Tearsheet

FTI Consulting (FCN)

Market Price (12/20/2025): $176.325 | Market Cap: $5.6 Bil
Sector: Industrials | Industry: Research & Consulting Services

FTI Consulting (FCN)

Market Price (12/20/2025): $176.325
Market Cap: $5.6 Bil
Sector: Industrials
Industry: Research & Consulting Services

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0	Low stock price volatility Vol 12M is 26%	Weak multi-year price returns 2Y Excs Rtn is -56%, 3Y Excs Rtn is -60%	Expensive valuation multiples P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 52x
1	Megatrend and thematic drivers Megatrends include Corporate Resilience & Governance. Themes include Business Transformation & Restructuring, Litigation & Forensic Investigations, and Risk & Compliance Management.		Key risks FCN key risks include [1] uncertain recovery in key segments such as Economic Consulting and [2] losing its competitive position to rivals adopting disruptive technologies like artificial intelligence.

0	Low stock price volatility Vol 12M is 26%
1	Megatrend and thematic drivers Megatrends include Corporate Resilience & Governance. Themes include Business Transformation & Restructuring, Litigation & Forensic Investigations, and Risk & Compliance Management.
2	Weak multi-year price returns 2Y Excs Rtn is -56%, 3Y Excs Rtn is -60%
3	Expensive valuation multiples P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 52x
4	Key risks FCN key risks include [1] uncertain recovery in key segments such as Economic Consulting and [2] losing its competitive position to rivals adopting disruptive technologies like artificial intelligence.

Valuation, Metrics & Events

	12/20/25	2024	2023	2022	2021
Share Price CYE	$176.32	$191.13	$199.15	$158.80	$153.42
Market Cap CYE ($ Bil)	5.6	6.7	7.0	5.3	5.1
Total Debt ($ Bil)	0.7	0.2	0.3	0.6	0.6
Total Cash ($ Bil)	0.1	0.7	0.3	0.5	0.5
Enterprise Value ($ Bil)	6.1	6.9	7.3	5.9	5.7
Valuation Ratios
P/S TTM	1.5	1.8	1.9	1.8	1.9
P/EBIT TTM	15.4	18.8	18.1	17.4	16.1
P/E TTM	20.9	24.0	24.6	22.7	21.9
P/FCF TTM	126.7	18.7	38.6	39.5	17.9
Sector Ratios
P/S TTM (Sector)	1.7	1.5	1.4	1.1	1.6
P/EBIT TTM (Sector)	12.9	11.8	11.1	9.1	12.3
P/E TTM (Sector)	17.3	16.5	15.4	12.1	16.3
P/FCF TTM (Sector)	13.3	13.4	12.1	8.4	14.0

	12/20/25	2024	2023
Share Price CYE	$176.32	$191.13	$199.15
Market Cap CYE ($ Bil)	5.6	6.7	7.0
Total Debt ($ Bil)	0.7	0.2	0.3
Total Cash ($ Bil)	0.1	0.7	0.3
Enterprise Value ($ Bil)	6.1	6.9	7.3
Valuation Ratios
P/S TTM	1.5	1.8	1.9
P/EBIT TTM	15.4	18.8	18.1
P/E TTM	20.9	24.0	24.6
P/FCF TTM	126.7	18.7	38.6
Sector Ratios
P/S TTM (Sector)	1.7	1.5	1.4
P/EBIT TTM (Sector)	12.9	11.8	11.1
P/E TTM (Sector)	17.3	16.5	15.4
P/FCF TTM (Sector)	13.3	13.4	12.1

	FCN	S&P 500
REVENUE GROWTH
Rev LTM ($ Bil)	3.7
Rev Chg Q	3.3%	7.2%
Rev Chg LTM	-0.9%	6.0%
Rev Chg 3Y Avg	8.2%	5.5%
PROFITABILITY	POOR
Op Inc LTM ($ Bil)	0.4
CFO LTM ($ Bil)	0.1
Net Inc LTM ($ Bil)	0.3
Op Mgn LTM	10.3%	18.8%
CFO/Rev LTM	2.9%	20.4%
Net Inc Mgn	7.2%	13.1%
VALUATION	MODERATE
P/S	1.5	3.2
P/CFO	51.6	15.6
P/FCF	126.7	20.6
P/E	20.9	23.5
STABILITY	GOOD
Debt/Equity	0.13	0.21
Cash/Assets	0.04	0.07

AI Generated Analysis | Feedback

Metric	Value	Date	Source
Billable Professionals	6457	9302025	Link

Upcoming
2/19/2026	Earnings Release	Rev: - EPS: -

FCN Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

AI Generated Analysis | Feedback

The stock of FTI Consulting (FCN) experienced a 4.7% movement during the approximate period from August 31, 2025, to December 20, 2025, primarily influenced by its strong third-quarter earnings report and strategic initiatives.

1. Strong Q3 2025 Earnings Beat. FTI Consulting reported robust third-quarter 2025 financial results on October 23, 2025, significantly surpassing analyst expectations for profitability. The company announced earnings per share (EPS) of $2.60, a 41% increase year-over-year, beating the consensus estimate of $1.93 by $0.67. Quarterly revenue also rose by 3.3% year-over-year to $956.17 million, exceeding analysts' expectations of $941.19 million.

2. Record EPS Growth and Strategic Investments. The record EPS growth was attributed to strong segment performance and strategic investments in talent and technology. Net income increased by 25% year-over-year to $82.8 million, and adjusted EBITDA reached $130.6 million, or 13.7% of revenue, compared to $102.9 million or 11.1% in the prior year quarter.

3. Strong Performance in Key Segments. The Corporate Finance & Restructuring segment posted record revenue of $404.9 million, an 18.6% increase year-over-year, driven by strong demand in restructuring, transactions, and transformation strategy. The Forensic & Litigation Consulting (FLC) segment also saw significant growth, with revenues increasing by 15.4% to $194.7 million due to higher realized bill rates and demand for risk and investigations services.

4. Share Repurchases and Capital Allocation. FTI Consulting remained active in its capital allocation strategy, repurchasing 1.426 million shares of its common stock at an average price of $164.18 per share, totaling $234.1 million during Q3 2025. Post-quarter, the board authorized an additional $500 million for buybacks.

5. Updated Full-Year 2025 Guidance. Following the strong Q3 performance, management raised its adjusted EPS guidance for the full year 2025 to $8.20–$8.70 (previously $7.80–$8.40) and updated its expected revenue to $3.685–$3.735 billion. This updated guidance signaled confidence in continued robust profitability despite anticipated seasonal slowdowns in Q4.

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Stock Movement Drivers

Fundamental Drivers

The 9.2% change in FCN stock from 9/19/2025 to 12/19/2025 was primarily driven by a 5.7% change in the company's Net Income Margin (%).

	9192025	12192025	Change
Stock Price ($)	161.74	176.54	9.15%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	3662.89	3693.03	0.82%
Net Income Margin (%)	6.82%	7.20%	5.68%
P/E Multiple	21.54	20.92	-2.91%
Shares Outstanding (Mil)	33.26	31.52	5.23%
Cumulative Contribution			8.85%

LTM = Last Twelve Months as of date shown

Market Drivers

9/19/2025 to 12/19/2025

	Return	Correlation
FCN	9.2%
Market (SPY)	2.5%	3.3%
Sector (XLI)	1.8%	-0.7%

Fundamental Drivers

The 11.2% change in FCN stock from 6/20/2025 to 12/19/2025 was primarily driven by a 10.1% change in the company's Shares Outstanding (Mil).

	6202025	12192025	Change
Stock Price ($)	158.77	176.54	11.19%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	3668.38	3693.03	0.67%
Net Income Margin (%)	7.14%	7.20%	0.89%
P/E Multiple	21.25	20.92	-1.55%
Shares Outstanding (Mil)	35.05	31.52	10.07%
Cumulative Contribution			10.06%

LTM = Last Twelve Months as of date shown

Market Drivers

6/20/2025 to 12/19/2025

	Return	Correlation
FCN	11.2%
Market (SPY)	14.8%	5.1%
Sector (XLI)	9.8%	8.8%

Fundamental Drivers

The -9.7% change in FCN stock from 12/19/2024 to 12/19/2025 was primarily driven by a -13.9% change in the company's Net Income Margin (%).

	12192024	12192025	Change
Stock Price ($)	195.41	176.54	-9.66%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	3728.41	3693.03	-0.95%
Net Income Margin (%)	8.37%	7.20%	-13.91%
P/E Multiple	22.12	20.92	-5.43%
Shares Outstanding (Mil)	35.31	31.52	10.74%
Cumulative Contribution			-10.70%

LTM = Last Twelve Months as of date shown

Market Drivers

12/19/2024 to 12/19/2025

	Return	Correlation
FCN	-9.7%
Market (SPY)	17.5%	21.8%
Sector (XLI)	19.2%	24.8%

Fundamental Drivers

The 14.3% change in FCN stock from 12/20/2022 to 12/19/2025 was primarily driven by a 26.0% change in the company's Total Revenues ($ Mil).

	12202022	12192025	Change
Stock Price ($)	154.41	176.54	14.33%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	2930.71	3693.03	26.01%
Net Income Margin (%)	7.72%	7.20%	-6.67%
P/E Multiple	23.08	20.92	-9.36%
Shares Outstanding (Mil)	33.81	31.52	6.77%
Cumulative Contribution			13.81%

LTM = Last Twelve Months as of date shown

Market Drivers

12/20/2023 to 12/19/2025

	Return	Correlation
FCN	-10.9%
Market (SPY)	48.5%	23.7%
Sector (XLI)	42.8%	26.3%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
FCN Return	1%	37%	4%	25%	-4%	-9%	58%
Peers Return	2%	29%	16%	4%	39%	-12%	94%
S&P 500 Return	16%	27%	-19%	24%	23%	16%	112%
Monthly Win Rates [3]
FCN Win Rate	50%	50%	58%	67%	67%	50%
Peers Win Rate	45%	52%	43%	42%	50%	45%
S&P 500 Win Rate	58%	75%	42%	67%	75%	73%
Max Drawdowns [4]
FCN Max Drawdown	-12%	-6%	-11%	-2%	-6%	-21%
Peers Max Drawdown	-43%	-5%	-12%	-16%	-4%	-30%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: PSN, AM, G, CRAI, ACCL. See FCN Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/19/2025 (YTD)

How Low Can It Go

Unique Key	Event	FCN	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-24.1%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	31.8%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	137 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-31.7%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	46.5%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	154 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-29.4%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	41.6%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	188 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-50.7%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	103.0%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	3,436 days	1,480 days

Compare to PSN, AM, G, CRAI, ACCL

In The Past

FTI Consulting's stock fell -24.1% during the 2022 Inflation Shock from a high on 7/11/2022. A -24.1% loss requires a 31.8% gain to breakeven.

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About FTI Consulting (FCN)

FTI Consulting, Inc. provides business advisory services to manage change, mitigate risk, and resolve disputes worldwide. The company operates through five segments: Corporate Finance & Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology, and Strategic Communications. Its Corporate Finance & Restructuring segment provides business transformation, transactions, and turnaround and restructuring services. The company's Forensic and Litigation Consulting segment offers. construction and environmental solution, data and analytics, dispute, health solution, and risk and investigation services. Its Economic Consulting segment provides. antitrust and competition economic, financial economic, and international arbitration services. The company's Technology segment offers corporate legal operation; e-discovery and expertise; and information governance, privacy, and security services. Its Strategic Communications segment provides corporate reputation, financial communication, and public affairs services. The company serves aerospace and defense, agriculture, airlines and aviation, automotive and industrial, construction, energy, power and products, environmental solutions, financial services, healthcare and life sciences, hospitality, gaming and leisure, insurance, mining, private equity, public sector, real estate, retail and consumer products, telecom, media and technology, and transportation and logistics industries. The company was founded in 1982 and is headquartered in Washington, District of Columbia.

AI Generated Analysis | Feedback

FTI Consulting is like **the crisis management and restructuring division of a large professional services firm like Deloitte or PwC.**
FTI Consulting is like **McKinsey, but specializing in helping companies navigate financial distress, disputes, and complex investigations.**

AI Generated Analysis | Feedback

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Corporate Finance & Restructuring: Provides advisory services to companies, creditors, and other stakeholders in financially distressed situations, turnarounds, and transactions.
Forensic and Litigation Consulting: Offers investigative, dispute resolution, and expert testimony services related to fraud, financial investigations, and complex litigation.
Economic Consulting: Delivers economic analysis and expert testimony for legal, regulatory, and strategic matters, including antitrust, intellectual property, and valuation.
Strategic Communications: Advises clients on investor relations, public affairs, corporate reputation, and crisis communications to manage stakeholder perceptions.
Technology: Specializes in e-discovery, information governance, data analytics, and digital forensics to address complex legal and regulatory challenges.

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FTI Consulting (FCN) - Major Customers

FTI Consulting (FCN) is a global business advisory firm that primarily sells its services to other companies and organizations, rather than individuals. Characteristic of a professional services firm with a broad and diverse client base, FTI Consulting does not publicly disclose specific "major customers" by name. Their business model involves working on project-based engagements with a wide array of clients, and no single customer typically accounts for a material portion of their consolidated revenue, as indicated in their public filings. Client confidentiality is also paramount in their industry. Therefore, instead of listing specific companies, the following are the primary categories of organizations that engage FTI Consulting for their advisory services:

Corporations: Public and private companies of various sizes, spanning diverse industries such as energy, healthcare, technology, retail, real estate, and manufacturing. They engage FTI for services related to corporate finance & restructuring, litigation support, strategic communications, and more.
Law Firms: Legal practices frequently hire FTI Consulting for their expertise in areas like forensic investigations, economic analysis, expert testimony, and e-discovery technology, particularly in complex litigation, arbitration, and regulatory matters.
Financial Institutions: This category includes banks, investment funds, private equity firms, and hedge funds. They utilize FTI's services for due diligence, distressed asset management, M&A advisory, and other financial and restructuring consulting needs.
Governmental Agencies: Public sector entities engage FTI Consulting for advice on policy, regulatory compliance, investigations, and other specialized consulting services.
Boards of Directors and Special Committees: These governing bodies often seek independent advice from FTI Consulting on matters such as corporate governance, internal investigations, M&A transactions, and shareholder activism.

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Steven H. Gunby, President & Chief Executive Officer

Steven H. Gunby has served as President and Chief Executive Officer of FTI Consulting since January 2014. He also serves as a member of the company's Board of Directors. Before joining FTI Consulting, Mr. Gunby had a distinguished 30-year career at The Boston Consulting Group (BCG), a prominent business strategy consulting firm. His roles at BCG included Senior Partner and Managing Director, Global Leader in Transformation (from 2011 to 2014), and Chairman for North and South America (from 2003 to 2009). He was also a member of BCG's Executive Committee. Mr. Gunby is also on the board of Arrow Electronics, Inc.

Paul Linton, Chief Strategy & Transformation Officer and Interim Chief Financial Officer

Paul Linton currently holds the position of Chief Strategy & Transformation Officer at FTI Consulting. As of September 12, 2025, he assumed the role of Interim Chief Financial Officer. Mr. Linton brings 25 years of experience in strategy, operations, organization, and large-scale transformation to his roles. He joined FTI Consulting in 2014. Prior to his tenure at FTI, Mr. Linton spent 14 years with The Boston Consulting Group, where he served as a partner and managing director.

Ajay Sabherwal, Former Chief Financial Officer

Ajay Sabherwal served as Chief Financial Officer of FTI Consulting from 2016 until his departure on September 12, 2025, for a role outside the consulting industry. Before joining FTI, he held several CFO positions, including Executive Vice President and CFO of FairPoint Communications, Inc. from 2010 to 2016. At FairPoint, he played a key role in guiding the company through a Chapter 11 bankruptcy restructuring and its subsequent relisting on NASDAQ. Mr. Sabherwal also served as CFO of Mendel Biotechnology, Inc., a company that was acquired by Koch Industries in 2014. His past experience also includes CFO roles at Aventine Renewable Energy, Inc. and Choice One Communications, Inc. He began his career in telecommunications, working in business planning, consulting, and equity analysis at firms such as Deloitte, Barclays de Zoete Wedd, and Canadian Imperial Bank of Commerce (CIBC) World Markets.

Holly Paul, Chief Human Resources Officer

Holly Paul is the Chief Human Resources Officer at FTI Consulting, a role she has held since July 2014. She is responsible for attracting, engaging, hiring, developing, and retaining professionals. Prior to FTI Consulting, Ms. Paul served as CHRO of Vocus, a PR software company that was later sold. She also spent nearly 12 years with PricewaterhouseCoopers (PwC) in various roles, including US Talent Acquisition Leader and National Human Resource Leader.

Matthew Pachman, Vice President, Chief Ethics & Compliance Officer & Chief Risk Officer

Matthew Pachman serves as Vice President, Chief Ethics & Compliance Officer, and Chief Risk Officer at FTI Consulting, roles he has held since July 2012, March 2017, and 2010, respectively. He is responsible for overseeing the firm's global ethics and compliance programs, as well as all aspects of its risk management functions. Before joining FTI Consulting in 2012, Mr. Pachman was the Vice President and Chief Compliance Officer at Altegrity Inc. He also served as Vice President of Compliance – Ethics and Business Practices at Freddie Mac, where he led enterprise-wide ethics and compliance functions. Earlier in his career, Mr. Pachman was a lawyer with MCI WorldCom, Inc.

Sophie Ross, Global Chief Executive Officer, Technology Segment

Sophie Ross is the Global Chief Executive Officer of the Technology segment at FTI Consulting and a member of the firm's Executive Committee. She has over 20 years of experience in company management and operations across the United States, Europe, and Asia. Ms. Ross joined FTI Consulting through its 2008 acquisition of Strategic Discovery, a leader in the litigation discovery industry, where she served as Chief Operating Officer. Prior to Strategic Discovery, she was Executive Vice President of Global Delivery & Operations at Freeborders Inc., and also held strategic and operational leadership roles at Revlon Inc./MacAndrews & Forbes and The Boston Consulting Group.

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Key Risks to FTI Consulting (FCN)

    Economic and Market Uncertainties: FTI Consulting is significantly exposed to fluctuations in global economies, financial markets, and geopolitical disruptions, which can directly reduce demand for its advisory services and impact revenues and profitability. The recovery of certain segments, such as Economic Consulting, remains uncertain due to lingering market conditions.
    Cybersecurity Threats and Regulatory Compliance: The company faces substantial risks from cybersecurity incidents, which could harm its reputation and financial results. Additionally, compliance with evolving and increasingly stringent data privacy and security regulations, such as GDPR and CCPA, increases operational costs and complexity.
    Intense Competition and Technology Disruption: FTI Consulting operates in a highly competitive market with numerous firms offering similar services, which can put pressure on its market share and profitability. The rapid adoption of new technologies, particularly artificial intelligence (AI) and machine learning, by competitors poses an emerging risk that could adversely affect FTI Consulting's competitive position if not adequately addressed.

AI Generated Analysis | Feedback

The clear emerging threat for FTI Consulting is the rapid advancement and adoption of **Artificial Intelligence (AI) and advanced automation** within professional services.

This technology has the potential to:

Automate and commoditize core advisory tasks: AI can perform data analysis, document review, e-discovery, financial modeling, legal research, and market analysis with greater speed, accuracy, and lower cost than traditional human-intensive methods. This could significantly reduce the demand for FTI's current service delivery model or pressure its pricing.
Enable new, lean competitors: Specialized AI-first consulting firms or technology vendors focused on AI-powered solutions could emerge, offering targeted services (e.g., AI-driven forensic accounting, automated compliance solutions, AI-powered litigation support) that directly compete with FTI's offerings at potentially lower price points or with superior efficiency.
Empower client self-service: As sophisticated AI tools become more accessible and user-friendly, corporate clients may develop stronger in-house capabilities for tasks they previously outsourced to FTI, particularly in areas like e-discovery, data analytics, and routine compliance.

This threat is analogous to how Netflix's streaming model disrupted Blockbuster's physical rental business or how Uber's app-based network challenged traditional taxi services, by fundamentally altering the delivery mechanism, cost structure, and competitive landscape of the industry.

AI Generated Analysis | Feedback

FTI Consulting (symbol: FCN) operates across five main segments: Corporate Finance & Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology, and Strategic Communications. While FTI Consulting is a global firm with operations in 31 countries, the majority of its revenues (65% as of September 2023) are derived from North America. Here's an overview of the addressable markets for FTI Consulting's main products and services, where available: * Corporate Finance & Restructuring: The global Corporate Restructuring Consulting Market is projected to grow from $10.8 billion in 2025 to $19.7 billion by 2032, with a compound annual growth rate (CAGR) of 12.30% during that period. * Forensic and Litigation Consulting: The global forensic consulting service market was valued at $143 million in 2024 and is projected to reach $314.41 million by 2025. * Economic Consulting: Information on the specific addressable market size for FTI Consulting's Economic Consulting services was not explicitly available. * Technology: The global AI consulting market size reached $15.7 billion in 2022, and is projected to grow at a 35.4% CAGR from 2023 to 2032. This represents a portion of FTI Consulting's technology offerings. * Strategic Communications: While FTI Consulting's Strategic Communications segment has an estimated annual revenue of $246.7 million, a distinct addressable market size for this specific segment was not identified.

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FTI Consulting (symbol: FCN) is expected to drive future revenue growth over the next 2-3 years through several key areas:

Sustained Demand in Corporate Finance & Restructuring Services: FTI Consulting anticipates continued revenue growth from its Corporate Finance & Restructuring segment, propelled by increased demand for restructuring and transactions services. Additionally, higher realized bill rates for transformation and strategy services are expected to contribute to this growth.
Expansion of Forensic and Litigation Consulting Services: The Forensic and Litigation Consulting segment is poised for continued expansion, driven by higher realized bill rates across risk and investigations, data & analytics, and construction solutions services. The firm also anticipates increased demand for its risk and investigations services.
Growth in Strategic Communications, Particularly Crisis and Transformation Services: The Strategic Communications segment is experiencing increased demand for corporate reputation services, with particular strength noted in crisis, people, and transformation services. This reflects a growing need for FTI Consulting's expertise during periods of disruption and change, which is expected to continue to drive revenue.
Strategic Investments in Cybersecurity: FTI Consulting has a strategic focus and continues to invest in cybersecurity. This ongoing investment and the evolving landscape of cybersecurity threats suggest that this area will be a driver of future revenue as the company enhances and expands its offerings to meet market demands.

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Share Repurchases

On October 21, 2025, FTI Consulting's Board of Directors authorized an additional $500.0 million for share repurchases, bringing the aggregate authorization since June 2, 2016, to $2.2 billion. Approximately $500.0 million remained available under the program after this authorization.
In April 2025, FTI Consulting increased its stock repurchase authorization by $400 million, bringing the total authorization to $1.7 billion.
The company repurchased $354.9 million of its common stock in the second quarter of 2025.
FTI Consulting repurchased shares worth $10.2 million in 2024, $21 million in 2023, $85.4 million in 2022, and $46.1 million in 2021.

Capital Expenditures

FTI Consulting's capital expenditures were $35 million in 2024, $49 million in 2023, $53 million in 2022, $69 million in 2021, and $35 million in 2020.
For the second quarter of 2025, capital expenditure was $35.2 million.
Expected capital expenditures for the remainder of 2025 are projected to be between $29 million and $36 million, to support the organization.
The decrease in capital expenditures in 2024 was primarily due to lower spending on cloud computing costs and leasehold improvements.

Better Bets than FTI Consulting (FCN)

	FCN	Better Performance than FCN
Metric	Value	INDUSTRY: Research & Consulting Services
Rev Chg LTM	-0.9%	TRU (8.3%), VRSK (7.3%), EFX (6.4%), EXPO (4.9%), BAH (2.4%)
Rev Chg 3Y Avg	8.2%	HURN (14.9%), VRSK (13.4%), BAH (10.0%)
Op Mgn LTM	10.3%	VRSK (44.4%), EXPO (20.6%), TRU (18.7%), EFX (18.5%), HURN (11.1%)
CFO/Rev LTM	2.9%	VRSK (44.5%), EFX (24.7%), EXPO (23.1%), TRU (20.8%), BAH (7.8%)
FCF/Rev LTM	1.2%	VRSK (36.8%), EXPO (21.5%), EFX (16.8%), TRU (13.0%), BAH (7.0%)
Total Yield	4.8%	SBC (9.3%), BAH (7.9%), ICFI (6.9%), CRAI (5.1%)
P/S	1.5	RGP (0.3), FORR (0.4), ICFI (0.8), BAH (0.9)
P/Op Inc	14.6	SBC (6.2), BAH (9.5), ICFI (10.3), FORR (10.7)

	FCN	Better Performance than FCN
Metric	Value	SECTOR: Industrials
Rev Chg LTM	-0.9%	UBER (18.2%), GE (17.7%), BA (10.2%), GEV (9.4%), RTX (8.8%)
Rev Chg 3Y Avg	8.2%	UBER (19.6%), GE (15.7%), BA (10.1%), ETN (9.7%), RTX (9.4%)
Op Mgn LTM	10.3%	UNP (40.6%), GE (20.5%), HON (18.9%), DE (18.8%), CAT (17.7%)
CFO/Rev LTM	2.9%	UBER (18.1%), CAT (17.8%), GE (17.2%), RTX (9.3%), GEV (9.1%)
FCF/Rev LTM	1.2%	UBER (17.5%), GE (14.7%), CAT (11.7%), GEV (6.6%), RTX (5.5%)
Total Yield	4.8%	UBER (10.1%), UNP (7.4%), HON (7.2%), LMT (5.9%), DE (5.3%)
P/S	1.5	DAL (0.7), FDX (0.8), UPS (1.0), FERG (1.4), LMT (1.5)
P/Op Inc	14.6	UPS (10.5), FDX (10.7), CP (12.2), UNP (13.9), CSX (14.1)

	FCN	Better Performance than FCN
Metric	Value	ALL OTHER SECTORS
Rev Chg LTM	-0.9%	NVDA (65.2%), MSFT (15.6%), GOOGL (13.4%), AMZN (10.9%), AAPL (6.0%)
Rev Chg 3Y Avg	8.2%	NVDA (91.6%), META (17.3%), MSFT (13.2%), AMZN (11.3%), GOOGL (11.0%)
Op Mgn LTM	10.3%	NVDA (58.8%), MSFT (46.3%), GOOGL (32.2%), AAPL (31.9%), AMZN (11.4%)
CFO/Rev LTM	2.9%	MSFT (50.0%), NVDA (44.4%), GOOGL (39.3%), AAPL (26.6%), AMZN (18.1%)
FCF/Rev LTM	1.2%	NVDA (41.3%), MSFT (26.6%), AAPL (23.5%), GOOGL (19.1%), AMZN (2.0%)
Total Yield	4.8%	XOM (9.4%), JNJ (7.5%), JPM (6.6%), BRK-B (6.3%), V (5.2%)
P/S	1.5	UNH (0.7), VZ (1.2), WMT (1.3), COST (1.4), T (1.4)
P/Op Inc	14.6	UNH (11.3), MRK (11.3), TMUS (11.4), XOM (14.0), DIS (14.5)

		Best Bets In Industrials Sector
	FCN	GATX	VRSK	PAYX	ADT	AGX	AME	PCTY	TDG	FTV	VRRM
What You Pay
P/E	20.9	19.8	33.0	24.4	10.4	37.5	31.9	37.7	35.8	30.2	69.1
P/EBIT	15.4	9.5	22.5	17.7	5.2	37.6	25.4	27.1	17.7	14.7	20.5
What You Get
Rev Chg Q	3.3%	8.4%	5.9%	10.2%	4.4%	-2.3%	10.8%	12.5%	11.5%	2.3%	16.1%
Rev Chg LTM	-0.9%	10.7%	7.3%	5.6%	6.3%	13.5%	3.7%	13.3%	11.2%	27.9%	8.5%
Rev Chg 3Y Avg	8.2%	10.3%	13.4%	6.5%	3.4%	26.9%	5.9%	21.4%	17.7%	9.4%	9.1%
FCF/Rev 3Y Avg	4.4%	39.2%	33.2%	31.6%	24.7%	24.5%	23.2%	21.5%	21.0%	20.1%	19.0%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 16%, alpha of 4.2%, and sharpe of 0.76

Latest Trefis Analyses

	Title	Topic
0	DASHBOARDS
1	FTI Consulting Earnings Notes
2	With FTI Consulting Stock Surging, Have You Considered The Downside?	Return
3	FTI Consulting vs T-Mobile US: Which Is A Better Investment?	Counter-Intuitive Comparisons
4	FTI Consulting vs Lockheed Martin: Which Is A Better Investment?	Counter-Intuitive Comparisons
5	FTI Consulting vs Booz Allen Hamilton: Which Is A Better Investment?	Counter-Intuitive Comparisons
6	How Does FTI Consulting Stock Stack Up Against Its Peers?	Peer Comparison
7	Better Bet Than FCN Stock: Pay Less Than FTI Consulting To Get More From UNH, D
8	Better Bet Than FCN Stock: Pay Less Than FTI Consulting To Get More From UAL, BAH
9	Better Bet Than FCN Stock: Pay Less Than FTI Consulting To Get More From BAH, HURN
10	FCN Dip Buy Analysis

	Title
0	ARTICLES

Trade Ideas

Select past ideas related to FCN. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
CNM_11212025_Dip_Buyer_FCFYield	11212025	CNM	Core & Main	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	18.0%	18.0%	-1.6%
VRRM_11212025_Dip_Buyer_FCFYield	11212025	VRRM	Verra Mobility	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	3.7%	3.7%	-1.2%
LII_11212025_Dip_Buyer_ValueBuy	11212025	LII	Lennox International	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	6.8%	6.8%	0.0%
ADP_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	ADP	Automatic Data Processing	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	2.6%	2.6%	-1.2%
CW_11212025_Quality_Momentum_RoomToRun_10%	11212025	CW	Curtiss-Wright	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	3.6%	3.6%	-0.4%
FCN_9262025_Dip_Buyer_ValueBuy	09262025	FCN	FTI Consulting	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	9.3%	9.3%	-6.1%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
CNM_11212025_Dip_Buyer_FCFYield	11212025	CNM	Core & Main	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	18.0%	18.0%	-1.6%
VRRM_11212025_Dip_Buyer_FCFYield	11212025	VRRM	Verra Mobility	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	3.7%	3.7%	-1.2%
LII_11212025_Dip_Buyer_ValueBuy	11212025	LII	Lennox International	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	6.8%	6.8%	0.0%
ADP_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	ADP	Automatic Data Processing	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	2.6%	2.6%	-1.2%
CW_11212025_Quality_Momentum_RoomToRun_10%	11212025	CW	Curtiss-Wright	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	3.6%	3.6%	-0.4%
FCN_9262025_Dip_Buyer_ValueBuy	09262025	FCN	FTI Consulting	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	9.3%	9.3%	-6.1%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
LUNR	Intuitive Machines	1.8	37.7%	-17.7%
GTN-A	Gray Media	1.1	30.9%	55.5%
FOLD	Amicus Therapeutics	4.4	30.2%	50.5%
FLY	Firefly Aerospace	3.5	22.8%
CRWV	CoreWeave	40.4	22.6%
EVMN	Evommune	0.5	21.6%
EWTX	Edgewise Therapeutics	2.7	20.8%	-4.3%
FBYD	Falcons Beyond Global	0.7	19.9%	125.4%
ONDS	Ondas	1.4	18.2%	260.2%
BMRN	BioMarin Pharmaceutical	11.7	17.7%	-7.0%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
LW	Lamb Weston	6.2	-25.9%	-32.5%
BB	BlackBerry	2.2	-12.9%	-0.3%
IRON	Disc Medicine	2.8	-11.5%	26.2%
NKE	Nike	86.7	-10.5%	-20.6%
TLRY	Tilray Brands	11.8	-9.6%	-16.1%
OLMA	Olema Pharmaceuticals	2.4	-9.3%	379.1%
KBH	KB Home	3.8	-8.5%	-11.2%
PAHC	Phibro Animal Health	1.5	-7.8%	80.2%
EEX	Emerald	0.9	-7.7%	-1.3%
GETY	Getty Images	0.5	-7.4%	-41.7%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
FBYD	Falcons Beyond Global	0.7	60.2%	125.4%
DJT	Trump Media & Technology	4.5	51.1%	-52.8%
GTN-A	Gray Media	1.1	40.6%	55.5%
FOLD	Amicus Therapeutics	4.4	34.4%	50.5%
EEX	Emerald	0.9	27.4%	-1.3%
LUNR	Intuitive Machines	1.8	24.8%	-17.7%
QURE	uniQure	1.3	23.0%	35.8%
RIVN	Rivian Automotive	27.4	21.9%	68.8%
PHAT	Phathom Pharmaceuticals	1.3	20.4%	115.9%
TE	T1 Energy	1.0	20.2%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
NOW	ServiceNow	32.2	-82.0%	-26.7%
LWLG	Lightwave Logic	0.4	-28.0%	42.4%
LW	Lamb Weston	6.2	-26.3%	-32.5%
INSP	Inspire Medical Systems	2.8	-26.1%	-47.9%
BETR	Better Home & Finance	0.5	-21.1%	269.6%
FDMT	4D Molecular Therapeutics	0.5	-19.9%	55.8%
VSTM	Verastem	0.6	-19.3%	50.1%
CGEM	Cullinan Therapeutics	0.6	-18.8%	-20.5%
USAR	USA Rare Earth	1.4	-18.8%	46343.0%
BW	Babcock & Wilcox Enterprises	0.5	-17.6%	198.8%

1 Month Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
WVE	WAVE Life Sciences	2.6	132.3%	29.2%
TE	T1 Energy	1.0	122.5%
VERA	Vera Therapeutics	3.3	79.4%	21.1%
FTRE	Fortrea	1.6	76.7%	-4.9%
ARWR	Arrowhead Pharmaceuticals	9.5	74.9%	262.6%
ANF	Abercrombie & Fitch	5.8	73.7%	-19.0%
ALMS	Alumis	0.9	71.8%	43.6%
LUNR	Intuitive Machines	1.8	70.5%	-17.7%
VSCO	Victoria's Secret	4.5	63.0%	36.9%
PL	Planet Labs PBC	5.8	62.7%	374.8%

1 Month Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
RZLT	Rezolute	0.2	-82.6%	-63.9%
JANX	Janux Therapeutics	0.9	-52.1%	-74.2%
FRMI	Fermi	5.9	-50.1%
LENZ	LENZ Therapeutics	0.5	-36.6%	-37.7%
GOGO	Gogo	0.6	-34.9%	-44.0%
LWLG	Lightwave Logic	0.4	-34.0%	42.4%
BETR	Better Home & Finance	0.5	-32.1%	269.6%
IMSR	Terrestrial Energy	0.7	-30.8%
ORIC	ORIC Pharmaceuticals	0.6	-30.0%	-0.4%
PBF	PBF Energy	3.0	-29.7%	3.7%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
LUNR	Intuitive Machines	1.8	37.7%	-17.7%
GTN-A	Gray Media	1.1	30.9%	55.5%
FOLD	Amicus Therapeutics	4.4	30.2%	50.5%
FLY	Firefly Aerospace	3.5	22.8%
CRWV	CoreWeave	40.4	22.6%
EVMN	Evommune	0.5	21.6%
EWTX	Edgewise Therapeutics	2.7	20.8%	-4.3%
FBYD	Falcons Beyond Global	0.7	19.9%	125.4%
ONDS	Ondas	1.4	18.2%	260.2%
BMRN	BioMarin Pharmaceutical	11.7	17.7%	-7.0%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
LW	Lamb Weston	6.2	-25.9%	-32.5%
BB	BlackBerry	2.2	-12.9%	-0.3%
IRON	Disc Medicine	2.8	-11.5%	26.2%
NKE	Nike	86.7	-10.5%	-20.6%
TLRY	Tilray Brands	11.8	-9.6%	-16.1%
OLMA	Olema Pharmaceuticals	2.4	-9.3%	379.1%
KBH	KB Home	3.8	-8.5%	-11.2%
PAHC	Phibro Animal Health	1.5	-7.8%	80.2%
EEX	Emerald	0.9	-7.7%	-1.3%
GETY	Getty Images	0.5	-7.4%	-41.7%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
FBYD	Falcons Beyond Global	0.7	60.2%	125.4%
DJT	Trump Media & Technology	4.5	51.1%	-52.8%
GTN-A	Gray Media	1.1	40.6%	55.5%
FOLD	Amicus Therapeutics	4.4	34.4%	50.5%
EEX	Emerald	0.9	27.4%	-1.3%
LUNR	Intuitive Machines	1.8	24.8%	-17.7%
QURE	uniQure	1.3	23.0%	35.8%
RIVN	Rivian Automotive	27.4	21.9%	68.8%
PHAT	Phathom Pharmaceuticals	1.3	20.4%	115.9%
TE	T1 Energy	1.0	20.2%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
NOW	ServiceNow	32.2	-82.0%	-26.7%
LWLG	Lightwave Logic	0.4	-28.0%	42.4%
LW	Lamb Weston	6.2	-26.3%	-32.5%
INSP	Inspire Medical Systems	2.8	-26.1%	-47.9%
BETR	Better Home & Finance	0.5	-21.1%	269.6%
FDMT	4D Molecular Therapeutics	0.5	-19.9%	55.8%
VSTM	Verastem	0.6	-19.3%	50.1%
CGEM	Cullinan Therapeutics	0.6	-18.8%	-20.5%
USAR	USA Rare Earth	1.4	-18.8%	46343.0%
BW	Babcock & Wilcox Enterprises	0.5	-17.6%	198.8%

Peer Comparisons for FTI Consulting

Peers to compare with:

Financials

	FCN	PSN	AM	G	CRAI	ACCL	Median
Name	FTI Cons.	Parsons	Antero M.	Genpact	CRA Inte.	Acco
Mkt Price	176.54	61.38	17.51	47.91	208.80	3.16	54.64
Mkt Cap	5.6	6.6	8.4	8.3	1.4	-	6.6
Rev LTM	3,693	6,495	1,250	5,009	731	-	3,693
Op Inc LTM	382	411	702	753	84	-	411
FCF LTM	44	383	758	642	28	-	383
FCF 3Y Avg	164	398	550	545	37	-	398
CFO LTM	108	438	910	729	42	-	438
CFO 3Y Avg	214	444	823	621	44	-	444

Growth & Margins

	FCN	PSN	AM	G	CRAI	ACCL	Median
Name	FTI Cons.	Parsons	Antero M.	Genpact	CRA Inte.	Acco
Rev Chg LTM	-0.9%	-0.2%	8.7%	7.4%	8.7%	-	7.4%
Rev Chg 3Y Avg	8.2%	17.9%	9.0%	4.9%	8.0%	-	8.2%
Rev Chg Q	3.3%	-10.4%	8.7%	6.6%	10.8%	-	6.6%
QoQ Delta Rev Chg LTM	0.8%	-2.8%	2.0%	1.6%	2.5%	-	1.6%
Op Mgn LTM	10.3%	6.3%	56.2%	15.0%	11.5%	-	11.5%
Op Mgn 3Y Avg	10.5%	6.2%	56.0%	14.4%	10.1%	-	10.5%
QoQ Delta Op Mgn LTM	0.6%	-0.0%	0.2%	0.1%	-0.5%	-	0.1%
CFO/Rev LTM	2.9%	6.7%	72.8%	14.6%	5.7%	-	6.7%
CFO/Rev 3Y Avg	5.8%	7.3%	70.6%	13.1%	6.7%	-	7.3%
FCF/Rev LTM	1.2%	5.9%	60.7%	12.8%	3.9%	-	5.9%
FCF/Rev 3Y Avg	4.4%	6.5%	46.6%	11.5%	5.6%	-	6.5%

Valuation

	FCN	PSN	AM	G	CRAI	ACCL	Median
Name	FTI Cons.	Parsons	Antero M.	Genpact	CRA Inte.	Acco
Mkt Cap	5.6	6.6	8.4	8.3	1.4	-	6.6
P/S	1.5	1.0	6.7	1.7	1.9	-	1.7
P/EBIT	15.4	15.4	10.0	10.4	16.2	-	15.4
P/E	20.9	27.3	17.7	15.1	24.2	-	20.9
P/CFO	51.7	15.0	9.2	11.4	32.7	-	15.0
Total Yield	4.8%	3.7%	10.9%	8.0%	5.1%	-	5.1%
Dividend Yield	0.0%	0.0%	5.3%	1.4%	1.0%	-	1.0%
FCF Yield 3Y Avg	2.2%	4.6%	7.2%	7.8%	4.1%	-	4.6%
D/E	0.1	0.2	0.4	0.2	0.1	-	0.2
Net D/E	0.1	0.1	0.4	0.1	0.1	-	0.1

Returns

	FCN	PSN	AM	G	CRAI	ACCL	Median
Name	FTI Cons.	Parsons	Antero M.	Genpact	CRA Inte.	Acco
1M Rtn	8.1%	-26.3%	-2.2%	9.5%	20.5%	-22.2%	2.9%
3M Rtn	9.2%	-25.1%	-4.5%	17.0%	-0.6%	-74.8%	-2.5%
6M Rtn	11.2%	-8.4%	-2.3%	18.8%	16.8%	-74.8%	4.4%
12M Rtn	-9.7%	-35.5%	27.1%	15.0%	11.1%	-74.8%	0.7%
3Y Rtn	14.3%	33.7%	103.0%	11.8%	84.8%	-74.8%	24.0%
1M Excs Rtn	5.2%	-29.2%	-5.1%	6.6%	17.6%	-25.1%	0.0%
3M Excs Rtn	8.5%	-26.6%	-7.6%	14.8%	-1.6%	-76.9%	-4.6%
6M Excs Rtn	-3.9%	-21.0%	-15.6%	2.9%	1.4%	-88.2%	-9.8%
12M Excs Rtn	-23.2%	-49.2%	12.0%	-0.6%	-10.7%	-87.7%	-17.0%
3Y Excs Rtn	-60.5%	-41.5%	26.5%	-60.9%	14.8%	-145.8%	-51.0%

Comparison Analyses

	Title
0	How Does FTI Consulting Stock Stack Up Against Its Peers?
1	FTI Consulting vs. Antero Midstream: With Return Forecast Of 4.4%, FTI Consulting Is A Better Bet
2	JLL or FCN - With 26% Return Forecast, FCN Probably Deserves Your Money
3	FTI Consulting vs. Verisk Analytics: Both Seem Similar Bets
4	FTI Consulting vs. Arista Networks: With Return Forecast Of 17%, FTI Consulting Is A Better Bet
5	FTI Consulting vs. Cadence Design Systems: With Return Forecast Of 17%, FTI Consulting Is A Better Bet
6	FTI Consulting vs IDEXX Laboratories: Similar Revenue; Which Stock Is A Better Bet?
7	FTI Consulting vs Fortinet: Similar Revenue; Which Stock Is A Better Bet?
8	FTI Consulting vs DexCom: Similar Income; Which Stock Is A Better Bet?
9	FTI Consulting vs Integra LifeSciences: Similar Market Cap; Which Stock Is A Better Bet?

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	10/23/2025	2/20/2025	2/22/2024	2/23/2023	2/24/2022	2/25/2021	2/25/2020
Key Financials
Total Revenue	3,693	3,699	3,489	3,029	2,776	2,461	2,353
EBITDA	410	406	420	353	363	325	346
Operating Income	382	356	378	312	312	290	306
Net Income	266	280	275	236	235	211	217
EPS	7.96	7.96	8.10	6.99	7.02	5.92	5.89
Growth Rates
Total Revenue Growth	-0.9%	6.0%	15.2%	9.1%	12.8%	4.6%	16.0%
EBITDA Growth	-9.5%	-3.4%	18.8%	-2.8%	11.7%	-6.0%	26.0%
Operating Income Growth	-6.8%	-5.8%	20.9%	0.1%	7.7%	-5.2%	35.2%
Net Income Growth	-14.7%	1.9%	16.7%	0.2%	11.5%	-2.8%	43.9%
Margins
EBITDA Margin	11.1%	11.0%	12.0%	11.7%	13.1%	13.2%	14.7%
Operating Income Margin	10.3%	9.6%	10.8%	10.3%	11.2%	11.8%	13.0%
Net Income Margin	7.2%	7.6%	7.9%	7.8%	8.5%	8.6%	9.2%
Cash & Debt
Total Cash	146	660	329	492	494	295	369
Total Debt	736	242	258	569	564	491	488
Net Debt / (Cash)	590	-418	-71	77	70	196	118
Cash Flows
Net Cash from Operations	108	395	224	189	355	327	218
Free Cash from Operations	44	360	175	135	287	292	176
Returns to Shareholders
Dividends	0	-0	-0	-0	-0	-0	-0
Share Repurchases	781	10	21	85	46	354	106

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	10/23/2025	7/24/2025	4/24/2025	2/20/2025	10/24/2024	7/25/2024	4/25/2024	2/22/2024	10/26/2023	7/27/2023	4/27/2023	2/23/2023
Key Financials Quarterly
Total Revenue	956	944	898	895	926	949	929	925	893	865	807	774
Ebitda	132	112	93	73	103	118	113	119	124	100	78	77
Operating Income	118	99	104	61	91	104	100	115	107	89	67	81
Net Income	83	72	62	50	66	84	80	82	83	62	48	47
EPS	2.63	2.16	1.76	1.41	1.88	2.38	2.29	2.35	2.44	1.87	1.43	1.42
Key Financials TTM
Total Revenue TTM	3,693	3,663	3,668	3,699	3,728	3,696	3,611	3,489	3,339	3,222	3,112	3,029
Ebitda TTM	410	381	387	407	453	474	456	422	380	363	342	354
Operating Income TTM	382	355	360	356	410	426	410	378	344	324	300	312
Net Income TTM	266	250	262	280	312	329	307	275	241	235	224	236
Growth Rates Quarterly
Total Revenue Growth	3.3%	-0.6%	-3.3%	-3.2%	3.7%	9.8%	15.1%	19.4%	15.1%	14.5%	11.5%	14.5%
EBITDA Growth	28.5%	-5.3%	-17.7%	-38.6%	-16.9%	17.6%	43.6%	54.3%	16.1%	26.6%	-13.3%	23.0%
Operating Income Growth	29.5%	-4.6%	4.4%	-47.0%	-15.1%	17.3%	49.1%	42.0%	22.0%	38.1%	-15.7%	58.7%
Net Income Growth	24.6%	-14.6%	-22.7%	-39.1%	-20.2%	34.5%	68.2%	71.9%	7.8%	21.3%	-19.8%	24.3%
Margins Quarterly
EBITDA Margin	13.8%	11.8%	10.3%	8.2%	11.1%	12.4%	12.1%	12.9%	13.9%	11.6%	9.7%	10.0%
Operating Income Margin	12.3%	10.5%	11.6%	6.8%	9.8%	11.0%	10.7%	12.4%	12.0%	10.3%	8.3%	10.5%
Net Income Margin	8.7%	7.6%	6.9%	5.6%	7.2%	8.8%	8.6%	8.8%	9.3%	7.2%	5.9%	6.1%
Cash & Debt
Total Cash	146	153	151	660	386	226	244	329	201	204	239	492
Total Debt	736	687	361	242	217	275	419	258	503	564	588	569
Net Debt / (Cash)	590	534	210	-418	-169	48	175	-71	302	360	349	77
Cash Flows Quarterly
FCF from Operations	202	56	-465	315	219	135	-275	383	107	-11	-254	229
Cash Flows TTM
FCF from Operations TTM	108	125	205	395	463	350	204	224	71	92	138	189
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	234	354	183	10	-0	-0	-0	-0	-0	-0	21	62
Return on Invested Capital (ROIC) Quarterly
ROIC	59.1%	58.0%	151.9%	-	-	707.9%	183.4%	-	109.8%	72.2%	58.2%	314.3%
Return on Invested Capital (ROIC) TTM
ROIC TTM	50.1%	51.7%	135.3%	-	-	705.2%	182.7%	-	86.0%	69.4%	67.6%	320.7%

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
Corporate Finance	1,347	1,147	939	910	724
Economic Consulting	771	695	697	599	593
Forensic and Litigation Consulting (FLC)	654	580	585	500	578
Technology	388	320	287	223	216
Strategic Communications	329	287	268	229	243
Total	3,489	3,029	2,776	2,461	2,353

Price Behavior

Price Behavior

Market Price	$176.54
Market Cap ($ Bil)	5.6
First Trading Date	05/09/1996
Distance from 52W High	-11.2%
	50 Days	200 Days
DMA Price	$163.98	$164.28
DMA Trend	down	up
Distance from DMA	7.7%	7.5%
	3M	1YR
Volatility	23.4%	25.7%
Downside Capture	-1.08	49.92
Upside Capture	41.89	31.86
Correlation (SPY)	1.7%	21.6%

FCN Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	0.25	0.22	0.23	0.26	0.31	0.32
Up Beta	-0.13	0.33	0.79	0.31	0.40	0.44
Down Beta	0.12	-0.04	-0.02	0.01	0.05	0.12
Up Capture	14%	31%	6%	23%	17%	8%
Bmk +ve Days	12	25	38	73	141	426
Stock +ve Days	9	20	29	61	123	385
Down Capture	50%	28%	28%	45%	64%	65%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	10	21	33	63	124	363

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

1Y 5Y 10Y

Based On 1-Year Data

		Comparison of FCN With Other Asset Classes (Last 1Y)
	FCN	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-11.4%	14.6%	13.5%	62.9%	2.8%	-2.4%	-19.7%
Annualized Volatility	25.7%	19.0%	19.7%	19.2%	16.0%	17.7%	35.4%
Sharpe Ratio	-0.50	0.58	0.52	2.42	-0.01	-0.29	-0.33
Correlation With Other Assets		25.7%	22.7%	-1.6%	1.2%	28.9%	3.7%

ETFs used for asset classes: Sector ETF = XLI, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data

		Comparison of FCN With Other Asset Classes (Last 5Y)
	FCN	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	9.9%	13.6%	14.8%	18.3%	11.1%	4.7%	34.8%
Annualized Volatility	28.1%	17.2%	17.1%	15.5%	18.9%	18.9%	48.9%
Sharpe Ratio	0.36	0.63	0.70	0.95	0.48	0.16	0.62
Correlation With Other Assets		20.6%	19.3%	-0.6%	1.0%	17.2%	5.2%

Based On 10-Year Data

		Comparison of FCN With Other Asset Classes (Last 10Y)
	FCN	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	17.8%	13.5%	14.8%	14.5%	6.3%	5.4%	68.9%
Annualized Volatility	30.7%	19.9%	18.0%	14.7%	17.7%	20.8%	55.8%
Sharpe Ratio	0.60	0.60	0.71	0.81	0.28	0.23	0.89
Correlation With Other Assets		27.7%	28.3%	-3.2%	5.9%	22.6%	2.4%

Short Interest

Short Interest: As Of Date	11282025
Short Interest: Shares Quantity	1,210,003
Short Interest: % Change Since 11152025	4.2%
Average Daily Volume	233,311
Days-to-Cover Short Interest	5.19
Basic Shares Quantity	31,523,000
Short % of Basic Shares	3.8%

Returns Analyses

	Title
0	With FTI Consulting Stock Surging, Have You Considered The Downside?
1	FTI Consulting Stock Return Comparison
2	FTI Consulting Total Shareholder Return (TSR): 3.5% in 2022 and 12.8% 3-yr returns (below peer average)
3	FTI Consulting (FCN) Stock Return: AI Predicts FCN Average and Excess Return After a Fall or Rise

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
10/24/2025	5.5%	4.5%	2.8%
7/25/2025	-2.0%	-5.0%	-4.2%
2/21/2025	0.8%	0.6%	-2.3%
10/25/2024	-0.4%	-0.2%	2.5%
7/26/2024	0.4%	-1.7%	-1.3%
2/23/2024	1.8%	-5.4%	-3.2%
10/27/2023	-0.6%	-0.4%	0.8%
7/28/2023	-0.9%	4.3%	6.3%
...
SUMMARY STATS
# Positive	11	9	10
# Negative	7	9	8
Median Positive	1.1%	2.8%	6.2%
Median Negative	-1.3%	-1.6%	-3.2%
Max Positive	5.5%	5.9%	22.6%
Max Negative	-3.7%	-5.4%	-9.0%

SEC Filings

Expand for More

Report Date	Filing Date	Filing
9302025	10232025	10-Q 9/30/2025
6302025	7242025	10-Q 6/30/2025
3312025	4242025	10-Q 3/31/2025
12312024	2202025	10-K 12/31/2024
9302024	10242024	10-Q 9/30/2024
6302024	7252024	10-Q 6/30/2024
3312024	4252024	10-Q 3/31/2024
12312023	2222024	10-K 12/31/2023
9302023	10262023	10-Q 9/30/2023
6302023	7272023	10-Q 6/30/2023
3312023	4272023	10-Q 3/31/2023
12312022	2232023	10-K 12/31/2022
9302022	10272022	10-Q 9/30/2022
6302022	7282022	10-Q 6/30/2022
3312022	4282022	10-Q 3/31/2022
12312021	2242022	10-K 12/31/2021

Insider Activity

Expand for More

	Owner	Title	Filing Date	Action	Price	Shares	Transacted Value	Value of Held Shares	Form
0	Gunby Steven Henry	CEO, Chairman and President	10272025	Buy	151.12	7,500	1,133,400	44,430,338	Form

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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FTI Consulting (FCN)

Market Price (12/20/2025): $176.325 | Market Cap: $5.6 BilSector: Industrials | Industry: Research & Consulting Services

FTI Consulting (FCN)

Market Price (12/20/2025): $176.325Market Cap: $5.6 BilSector: IndustrialsIndustry: Research & Consulting Services

Valuation, Metrics & Events

FCN Stock

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

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Market Drivers

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How Low Can It Go

In The Past

Preserve Wealth

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About FTI Consulting (FCN)

FTI Consulting (FCN) - Major Customers

Key Risks to FTI Consulting (FCN)

Interactive Breakdown

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Based On 1-Year Data

Based On 5-Year Data

Based On 10-Year Data

Short Interest

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Earnings Returns History

SEC Filings

Insider Activity

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External Quote Links

Market Price (12/20/2025): $176.325 | Market Cap: $5.6 Bil
Sector: Industrials | Industry: Research & Consulting Services

Market Price (12/20/2025): $176.325
Market Cap: $5.6 Bil
Sector: Industrials
Industry: Research & Consulting Services