olivLaw · US equity research
Advantage Solutions Inc. ADV
Services-Business Services, NEC · SIC 7389 · Vertical: Services-Business Services, NEC (SIC 7389)
Advantage Solutions provides outsourced sales, merchandising and in-store marketing services to consumer packaged goods manufacturers and retailers mainly in North America. Revenues in fiscal 2025 were 3542.6 million USD, and in the second quarter of 2026 revenues rose slightly while the Experiential Services segment was the main growth driver, in a context where pressure on consumer spending remains high.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Advantage Solutions Inc. (ADV) stock was 39.67 USD (+36.09% on the day), with market capitalisation 506.6 m USD, beta 1.27, 52-week range 12.55–46.82 USD. Latest reported quarter (Q3 2026): revenue of 913.7 m USD (−0.1% YoY), net income of -25.1 m USD (−222.0% YoY), diluted EPS -1.96 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 70.5
- overbought (≥ 70)
- Bollinger (20, 2)
- 25.32 – 35.02
- above the upper band · %B 1.48 · band width 32.2%
- SMA 50 / 200
- 31.01 / 30.44
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 0.61 / -0.25
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +44.9% | −1.1% | +46.0 pp | — |
| 3 months | +20.1% | −0.5% | +20.6 pp | — |
| 6 months | −8.9% | +4.4% | −13.3 pp | — |
| Year to date | +80.3% | +12.3% | +68.0 pp | — |
| 1 year | +29.0% | +13.5% | +15.5 pp | −4.0% |
| 3 years | −33.9% | +76.4% | −110.3 pp | +2.0% |
| 5 years | −82.2% | +63.7% | −145.9 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 892.3 m | 821.8 m | 873.7 m | 915.0 m | 932.1 m | 869.6 m | 889.5 m | 913.7 m |
| Cost of revenue | 760.9 m | 722.8 m | 746.9 m | 776.4 m | 802.2 m | 761.6 m | 783.8 m | 784.6 m |
| SG&A | 74.2 m | 64.9 m | 68.7 m | 57.6 m | 85.0 m | 53.3 m | 50.9 m | 62.5 m |
| Operating income | -170.6 m | -14.6 m | 10.0 m | 40.2 m | -162.0 m | 4.2 m | 1.7 m | 7.5 m |
| Depreciation & amortisation | 51.6 m | 50.4 m | 50.7 m | 50.7 m | 50.5 m | 51.6 m | 51.3 m | 51.0 m |
| Interest expense | 32.3 m | 34.4 m | 35.8 m | 35.0 m | 33.8 m | 34.8 m | 40.0 m | 38.8 m |
| Pre-tax income | -202.7 m | -49.0 m | -25.8 m | 5.3 m | -195.8 m | -48.5 m | -40.9 m | -31.5 m |
| Income tax | -24.7 m | 7.1 m | 4.6 m | -15.3 m | -34.1 m | 23.3 m | 21.8 m | -6.4 m |
| Net income | -178.0 m | -56.1 m | -30.4 m | 20.6 m | -161.7 m | -71.8 m | -62.7 m | -25.1 m |
| Diluted EPS | -0.56 ≈ | -4.36 | -2.35 | 1.51 | -0.13 ≈ | -5.49 | -4.85 | -1.96 |
| Operating cash flow | 15.1 m | -39.6 m | -8.1 m ≈ | 63.6 m ≈ | 45.6 m | 23.7 m | -6.5 m ≈ | 51.0 m ≈ |
| Capex | -42.5 m | 15.1 m | 2.1 m ≈ | 11.4 m ≈ | -22.2 m | 11.4 m | 9.4 m ≈ | 10.4 m ≈ |
| Share repurchases | 0 | 869.0 k | 0 ≈ | 0 ≈ | 0 | 2.3 m | 14.7 m ≈ | 2.3 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3.7 bn | 3.8 bn | 3.2 bn | 3.6 bn | 3.6 bn | 3.9 bn | 3.6 bn | 3.5 bn |
| Revenue YoY | unavailable | +2.1% | −16.6% | +14.2% | +1.2% | +7.0% | −8.6% | −0.7% |
| Net income | -1.2 bn | -21.2 m | -175.8 m | 54.5 m | -1.4 bn | -63.3 m | -327.0 m | -227.7 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | −2,633.3% | unavailable | unavailable | unavailable |
| Diluted EPS | unavailable | -0.10 | -0.79 | 0.17 | -4.33 | -0.20 | unavailable | unavailable |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | −2,647.1% | unavailable | unavailable | unavailable |
| net % | -31.2% | -0.6% | -5.6% | 1.5% | -37.9% | -1.6% | -9.2% | -6.4% |
| Free cash flow | 79.2 m | 98.9 m | 314.8 m | 94.8 m | 92.4 m | 207.8 m | 85.3 m | 55.1 m |
Reported results vs expectations
Loading…
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 240.9 m USD
- Financial debt
- 1.7 bn USD
- Net debt
- 1.4 bn USD
- Equity
- 554.0 m USD
- Total assets
- 2.8 bn USD
- Debt / equity
- 3.02x
- Current ratio
- 2.25x
- ROE
- -35.0%
- ROA
- -7.7%
- FCF margin
- 1.6%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 3.2 bn | 3.6 bn | 3.6 bn | 3.9 bn | 3.6 bn | 3.5 bn | SEC (XBRL)· 03 Mar 2026verified |
| Cost of revenue | 2.6 bn | 3.0 bn | 3.2 bn | 3.4 bn | 3.1 bn | 3.0 bn | SEC (XBRL)· 03 Mar 2026verified |
| Gross profit | 604.2 m ≈ | 638.2 m ≈ | 472.8 m ≈ | 485.1 m ≈ | 507.3 m ≈ | 494.3 m ≈ | SEC (XBRL)· 03 Mar 2026derived |
| SG&A | 306.3 m | 168.1 m | 175.4 m | 250.2 m | 324.6 m | 276.1 m | SEC (XBRL)· 03 Mar 2026verified |
| Operating income | 67.0 m | 230.0 m | -1.5 bn | 46.6 m | -295.0 m | -126.5 m | SEC (XBRL)· 03 Mar 2026verified |
| Depreciation & amortisation | 238.6 m | 240.0 m | 216.0 m | 208.9 m | 204.6 m | 202.3 m | SEC (XBRL)· 03 Mar 2026verified |
| EBITDA | 305.6 m ≈ | 470.1 m ≈ | -1.3 bn ≈ | 255.4 m ≈ | -90.4 m ≈ | 75.8 m ≈ | SEC (XBRL)· 03 Mar 2026derived |
| Interest expense | 234.0 m | 137.9 m | 104.5 m | 165.8 m | 146.8 m | 138.9 m | SEC (XBRL)· 03 Mar 2026verified |
| Pre-tax income | -180.4 m | 91.2 m | -1.6 bn | -118.9 m | -441.2 m | -265.3 m | SEC (XBRL)· 03 Mar 2026verified |
| Income tax | -5.3 m | 33.6 m | -158.4 m | -37.6 m | -62.8 m | -37.6 m | SEC (XBRL)· 03 Mar 2026verified |
| Net income | -175.8 m | 54.5 m | -1.4 bn | -63.3 m | -327.0 m | -227.7 m | SEC (XBRL)· 03 Mar 2026verified |
| Diluted EPS | -0.79 | 0.17 | -4.33 | -0.20 | — | — | SEC (XBRL)· 01 Mar 2024verified |
| Weighted average diluted shares | 223.2 m | 321.0 m | 318.7 m | 323.7 m | 321.5 m | 324.6 m | SEC (XBRL)· 03 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue; Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 204.3 m | 164.6 m | 118.0 m | 120.8 m | 205.2 m | 240.9 m | SEC (XBRL)· 03 Mar 2026verified |
| Receivables | — | — | 869.0 m | 659.5 m | 603.1 m | 595.0 m | SEC (XBRL)· 03 Mar 2026verified |
| Current assets | 899.8 m | 1.1 bn | 1.2 bn | 1.0 bn | 910.7 m | 972.6 m | SEC (XBRL)· 03 Mar 2026verified |
| Property, plant & equipment, net | 80.0 m | 63.7 m | 70.9 m | 64.7 m | 97.8 m | 115.9 m | SEC (XBRL)· 03 Mar 2026verified |
| Goodwill | 2.2 bn | 2.2 bn | 724.8 m | 710.2 m | 477.0 m | 438.9 m | SEC (XBRL)· 03 Mar 2026verified |
| Intangibles (excl. goodwill) | 2.5 bn | 2.3 bn | 1.9 bn | 1.6 bn | 1.3 bn | 993.9 m | SEC (XBRL)· 03 Mar 2026verified |
| Total assets | 5.8 bn | 5.9 bn | 4.3 bn | 3.8 bn | 3.1 bn | 2.8 bn | SEC (XBRL)· 03 Mar 2026verified |
| Accounts payable | 195.5 m | 277.4 m | 261.5 m | 172.9 m | 158.5 m | 162.4 m | SEC (XBRL)· 03 Mar 2026verified |
| Short-term debt | 63.7 m | 14.4 m | 14.0 m | 13.3 m | 13.3 m | 13.3 m | SEC (XBRL)· 03 Mar 2026verified |
| Long-term debt | 2.0 bn | 2.0 bn | 2.0 bn | 1.8 bn | 1.7 bn | 1.7 bn | SEC (XBRL)· 03 Mar 2026verified |
| Current liabilities | 575.0 m | 645.5 m | 600.7 m | 541.3 m | 460.1 m | 432.6 m | SEC (XBRL)· 03 Mar 2026verified |
| Total liabilities | 3.3 bn | 3.3 bn | 3.0 bn | 2.7 bn | 2.4 bn | 2.2 bn | SEC (XBRL)· 03 Mar 2026verified |
| Equity | 2.5 bn | 2.6 bn | 1.2 bn | 1.1 bn | 748.7 m | 554.0 m | SEC (XBRL)· 03 Mar 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 345.7 m | 126.0 m | 104.7 m | 228.5 m | 93.1 m | 61.5 m | SEC (XBRL)· 03 Mar 2026verified |
| Capex | 30.9 m | 31.2 m | 12.4 m | 20.7 m | 7.8 m | 6.5 m | SEC (XBRL)· 03 Mar 2026verified |
| Free cash flow | 314.8 m ≈ | 94.8 m ≈ | 92.4 m ≈ | 207.8 m ≈ | 85.3 m ≈ | 55.1 m ≈ | SEC (XBRL)· 03 Mar 2026derived |
| Investing cash flow | -99.0 m | -75.8 m | -106.1 m | -50.5 m | 206.4 m | 3.8 m | SEC (XBRL)· 03 Mar 2026verified |
| Financing cash flow | -230.2 m | -86.3 m | -31.4 m | -178.4 m | -211.4 m | -36.2 m | SEC (XBRL)· 03 Mar 2026verified |
| Share repurchases | 0 | 12.6 m | 0 | 6.4 m | 34.1 m | 869.0 k | SEC (XBRL)· 03 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 26 / 100
A scoring methodology on indicators and valuation, not investment advice.
score < 40
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 506.6 m USD
Key indicators
Coverage and freshness
Score by group
- Valuation44
- Returns54
- Quality20
- Balance sheet17
- Growth0
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 227.66 – 680.15 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)227.66 – 680.15 (Mid 359.74)WACC 6.1% · starting FCFF 228.6 m USD · terminal value share of EV 84%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: no growth between −30% and +40% justifies the price
- Peers: EV/EBITDAunavailable · insufficient data
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Unattractive profile · Score 26/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | -6.3% | 17 (vs peers) | 15% |
| Net margin · Quality | -8.9% | 23 (vs peers) | 9% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | -1.0% | 0 (on a fixed band) | 12% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | 25.2x | 0 (vs peers) | 15% |
| Interest coverage · Balance sheet | -1.0x | 0 (on a fixed band) | 9% |
| Current ratio · Balance sheet | 1.8x | 84 (on a fixed band) | 6% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | 34.3x | 0 (vs peers) | 15% |
| FCF yield · Valuation | 20.7% | 100 (on a fixed band) | 12% |
| Shareholder yield (distributions) · Returns | 3.8% | 54 (on a fixed band) | 9% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet17/100 · 3/3 factors with a value
- Growth· partial0/100 · 1/2 factors with a value
- Quality20/100 · 2/3 factors with a value
- Returns· partial54/100 · 1/2 factors with a value
- Valuation44/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Advantage Solutions Inc. (ADV). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 3.5 bn USD in 2025; YoY growth -0.7%; net margin -8.9%; ROE -59.0%; net debt/EBITDA 25.2x.
The estimated value range is 227.66–680.15 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 359.74 USD, the price of 39.67 USD leaves a potential of 806.8% (value / price − 1) and a margin of safety of 89.0% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 26/100, methodological classification: unattractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: growth, returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Current ratio: 1.8x
- FCF yield: 20.7%
- The price is below the estimated value range
What contradicts it
- ROIC: -6.3%
- Net margin: -8.9%
- Revenue CAGR 3Y: -1.0%
- Net debt / EBITDA: 25.2x
- Interest coverage: -1.0x
- EV/EBITDA: 34.3x
Not assessed (insufficient data or a ratio without meaning): FCF conversion, EPS CAGR 3Y, P/E (TTM), Payout ratio (FCF).
Versus the vertical median
Services-Business Services, NEC (SIC 7389) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| BABAAlibaba Group Holding Ltd | 195.6 bn | 131.6 | 10.3% | 10.1% | +8.1% | −33% / +41% |
| UBERUber Technologies, Inc. | 142.7 bn | 41.3 | 12.4% | 6.1% | +18.3% | −20% / +24% |
| MELIMercadoLibre, Inc. | 88.2 bn | 47.3 | 27.5% | 5.3% | +39.1% | −16% / +7% |
| EBAYeBay Inc. | 54.9 bn | 27.2 | 46.6% | 16.9% | +7.9% | +51% / +205% |
| PYPLPayPal Holdings, Inc. | 50.0 bn | 11.5 | 23.8% | 13.8% | +4.3% | −4% / +4% |
| MSCIMsci Inc. | 48.2 bn | 35.7 | — | 40.3% | +9.7% | +20% / +29% |
| FISVFiserv, Inc. | 33.0 bn | — | -17.0% | -18.9% | +3.6% | +1% / −52% |
| CPAYCorpay, Inc | 27.5 bn | 25.4 | 30.5% | 22.7% | +13.9% | +42% / +74% |
| GPNGlobal Payments Inc. | 25.4 bn | — | -4.1% | -9.1% | −0.4% | +27% / −17% |
| BRBroadridge Financial Solutions, Inc. | 21.4 bn | 20.9 | 40.2% | 13.9% | +8.5% | −17% / −2% |
| RBARB Global, Inc | 17.6 bn | 39.9 | 8.8% | 10.0% | +7.2% | −3% / +49% |
| FISFidelity National Information Services, Inc. | 15.3 bn | 4.4 | 23.0% | 26.8% | +5.4% | −55% / −49% |
| FICOFair Isaac Corp | 15.1 bn | 20.3 | — | 34.1% | +15.9% | −61% / −36% |
| CSGPCoStar Group, Inc. | 13.1 bn | 74.3 | 2.2% | 4.9% | +18.7% | −53% / −61% |
| HQYHealthequity, Inc. | 9.0 bn | 39.4 | 11.4% | 17.4% | +9.5% | +3% / +62% |
| WEXWEX Inc. | 5.9 bn | 15.5 | 35.6% | 14.0% | +1.2% | +21% / +2% |
| ALITAlight, Inc. | 5.7 bn | — | -67.9% | -46.0% | −3.0% | −72% / −92% |
| XMTRXometry, Inc. | 5.2 bn | — | -3.9% | -2.0% | +25.9% | +94% / +364% |
| CBZCBIZ, Inc. | 3.0 bn | 25.8 | 6.8% | 4.6% | +52.1% | −0% / +6% |
| FLYWFlywire Corporation | 2.7 bn | 36.3 | 9.1% | 10.3% | +26.6% | +56% / −6% |
| AHGAkso Health Group | 2.2 bn | 133.0 | -9.8% | -135.0% | −6.4% | −11% / +56% |
| PAYSPaysign, Inc. | 863.9 m | 58.4 | 30.8% | 15.7% | +40.5% | +194% / +551% |
| PHRPhreesia, Inc. | 818.1 m | 77.1 | 3.1% | 2.1% | +14.5% | −36% / −14% |
| CASSCass Information Systems, Inc. | 704.1 m | 18.9 | 16.3% | 18.9% | +5.3% | +31% / +33% |
| ADVAdvantage Solutions Inc. | 506.6 m | — | -59.0% | -8.9% | −0.7% | +29% / −34% |
1- and 3-year price returns: for ADV from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 05 Aug 2026; since then the company filed 8-K (04 Nov 2026 · results), 10-Q (04 Nov 2026).
In brief
Advantage Solutions provides outsourced sales, merchandising and in-store marketing services to consumer packaged goods manufacturers and retailers mainly in North America. Revenues in fiscal 2025 were 3542.6 million USD, and in the second quarter of 2026 revenues rose slightly while the Experiential Services segment was the main growth driver, in a context where pressure on consumer spending remains high 123.
SWOT
Strengths
- The company has a broad platform of business-critical services for manufacturers and retailers, a diverse client base and wide presence at the point of sale 1.
- The Experiential Services segment has shown solid growth and good operational execution in recent periods 13.
- The company has improved financial discipline by focusing on debt reduction and completing its large-scale SAP implementation 2.
Weaknesses
Opportunities
- If demand for events and demonstrations continues, Experiential Services could sustain revenue growth 3.
- Developing data, analytics and omni-commerce services could help win new clients and improve profitability 12.
- Simplifying the portfolio and focusing on core services could improve operating efficiency 1.
Risks
- Dependence on a few large clientshigh
The largest clients can reduce or cancel spending on short notice, and losing an important client could significantly affect revenues if not offset 1.
- Pressure on workforce costshigh
Market-driven wage increases and changes to minimum wage rules could raise costs and affect service quality 1.
- Indebtedness and refinancingmedium
Significant debt and refinancing terms can influence financial flexibility and interest costs, especially if operating results decline 13.
- Adapting to technological changemedium
If the company does not develop digital and omni-channel services in time, demand for its services could decline 1.
- Supply chain disruption and tariffslow
Tariffs, trade restrictions and supply chain disruptions can affect client volumes and profitability 1.
Investment thesis
What would need to be true (bull case)
- If Experiential Services sustains its growth and the Branded and Retailer segments stabilize, the company could return to more balanced revenue and profitability growth 23.
- Debt reduction and completion of major systems projects could improve cash flow and financial flexibility over the medium term 23.
- Its position as an omni-commerce provider for manufacturers and retailers could bring opportunities if demand for data and digital services grows 1.
What would break the thesis
- If Branded Services continues to lose clients and volumes, revenues and Adjusted EBITDA could remain under pressure 23.
- Client concentration and consolidation in client industries could reduce bargaining power and demand for outsourced services 1.
- High indebtedness and restructuring costs could limit the company's ability to invest in technology and new services 3.
What to watch
- Revenue and Adjusted EBITDA progress against fiscal 2026 guidanceQ3 2026
- Recovery pace of Branded Services and client retention2026
- Level of indebtedness and net leverage ratioQ3 2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 05 Aug 2026; since then the company filed 8-K (04 Nov 2026 · results), 10-Q (04 Nov 2026).
The business
Advantage Solutions is an omni-commerce business solutions provider to consumer packaged goods (CPG) manufacturers and retailers, with more than 4000 clients and presence in over 100000 retail locations 1. It operates through three reportable segments: Branded Services, Experiential Services and Retailer Services, and its revenue model combines commissions, fee-for-service and cost-plus structures 1.
Revenues depend on program volumes and workforce utilization, since expenses for employees, called teammates, are a major component of service delivery costs 1. As of December 31, 2025 the company employed approximately 73000 people, most of them part-time 1. In 2025 it continued simplifying its portfolio through divestitures of non-core businesses and modernization of enterprise systems 1.
Segments
Experiential Services
The segment provides in-store and digital sampling, demonstrations and experiential events for manufacturers and retailers on a fee-for-service or cost-plus basis 1. It represented 40.5% of revenues in 2025 and 45.6% in the first six months of 2026, making it the most dynamic segment 12.
Market context
The company operates in the North American market for business services to CPG and retail, competing with national and regional providers as well as in-house teams of manufacturers and retailers 1. The market is shaped by manufacturers' marketing budgets, retailer strategies and the shift toward omni-channel commerce 1.
Demand depends on consumer spending and on clients' ability to sustain promotional and in-store investments, which the company reported remained constrained in 2026 23. Year-over-year comparisons are also affected by divestitures completed after the second quarter of 2025 2.
Trends
- Consolidation of client industriesheadwind
Consolidation among CPG manufacturers and retailers could reduce demand for outsourced services and put pressure on pricing, since combined entities may renegotiate or insource functions 1.
- Shift toward omni-channel commercemixed
Rising online purchasing and fewer in-store visits could reduce demand for some services, but could also open opportunities in digital and omni-commerce services if developed in time 1.
- Demand for demonstrations and eventstailwind
Sustained demand for demonstrations and events supported Experiential Services in 2026, with growing event volumes and activity for new product launches 3.
- Wage pressure and minimum wage rulesheadwind
Market-driven wage increases and changes to minimum wage or job classification rules raise labor costs, which are a major component of the company's expenses 1.
Competitive position
The company competes with national and regional providers of outsourced sales, merchandising and marketing services, as well as in-house teams of CPG manufacturers and retailers 1. Competitive factors include service quality, data and analytics capabilities, technology, geographic coverage and cost-effectiveness 1.
Retaining clients and winning new accounts depends on developing solutions that meet changing needs of manufacturers and retailers, and the company has lost accounts in past competitive reviews 1.
- National and regional outsourced sales and merchandising providers
Named generically in the source without specific companies, so no ticker is given.
- In-house sales and marketing teams of CPG manufacturers
An internal alternative that can take over outsourced functions, cited in the source as a competitive force.
- In-house merchandising teams of retailers
Retailers can build their own merchandising and marketing capabilities, changing demand for external services.
- Providers designated by retailers as exclusive or preferred
Some retailers designate exclusive or preferred providers, which can include competitors of the company.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- AI helps Stanford scientists discover a “natural Ozempic” with a surprising advantageScienceDaily · 04 Nov 2026 · EN
- Democrats’ advantage on generic ballot narrow: SurveyThe Hill · 03 Nov 2026 · EN
- Will Chinese AI build a global advantage?The Japan Times · 02 Nov 2026 · EN
- ‘Why not take advantage?’: Pashinyan suggests auctioning first new Armenian passportOC Media (GE, EN) · 30 Oct 2026 · EN
- Putin’s two-war advantage over TrumpKyiv Independent (UA, EN) · 29 Oct 2026 · EN
- Japan's Advantage Partners eyes homegrown infrastructure fundNikkei Asia · 29 Oct 2026 · EN
- Democrats hold 8-point advantage 1 week before midterms: SurveyThe Hill · 27 Oct 2026 · EN
- Presentation: Serving LLMs at Scale: The Hidden KV Cache AdvantageInfoQ · 27 Oct 2026 · EN
- Lions manager acknowledges rest advantage over KBO postseason foe gone after rainoutYonhap News (KR, EN) · 26 Oct 2026 · EN
- Comparative Advantage and Economies of Scale under Uncertainty -- by Xiao Ma, Natalia RamondoNBER — New Working Papers · 26 Oct 2026 · EN
- Is your Medicare Advantage plan ending next year? Here's what to knowNPR News · 24 Oct 2026 · EN
- Advantage Infantino as AFC backing puts FIFA president on track for fourth termCNA (Channel NewsAsia) · 23 Oct 2026 · EN
- ‘She’s living the dream’: My stepmother said I can buy my childhood home for $850,000. Is she taking advantage of me?MarketWatch — Top Stories · 23 Oct 2026 · EN
- UnitedHealthcare, Humana Medicare Advantage cancellations to affect 1 millionThe Hill · 22 Oct 2026 · EN
- India pushes for 'competitive advantage' over peers in US trade dealNikkei Asia · 22 Oct 2026 · EN
- Northern Sea Route is Russia’s competitive advantage — ministerTASS (RU, EN) · 22 Oct 2026 · EN
- Democrats holding 10-point advantage ahead of midterms: SurveyThe Hill · 21 Oct 2026 · EN
- Advantage Partners readies Japan's first big forestry investment fundNikkei Asia · 19 Oct 2026 · EN
- How Starlink gave Ukraine a ‘middle strike’ advantage that is now at riskKyiv Independent (UA, EN) · 18 Oct 2026 · EN
- 🇷🇺 🇫🇮 ⚡ Russia may take advantage of NATO’s weak point in the Baltic Sea: a Finn…Telegram — Intel Slava Z (pro-RU OSINT EN) · 18 Oct 2026 · EN
SEC filings
- Quarterly report04 Nov 2026
- Current report04 Nov 2026Results of operations · Financial statements and exhibits
- Current report02 Nov 2026Departure or appointment of officers · Financial statements and exhibits
- Current report19 Oct 2026Amendments to articles or bylaws
- Current report05 Oct 2026Departure or appointment of officers · Financial statements and exhibits
- Quarterly report05 Aug 2026
- Current report05 Aug 2026Results of operations · Financial statements and exhibits
- Current report28 May 2026Shareholder vote · Financial statements and exhibits
- Quarterly report06 May 2026
- Current report06 May 2026Results of operations · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Advantage Solutions Inc. · 03 Mar 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Advantage Solutions Inc. · 05 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Advantage Solutions Inc. · 05 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.