FTI CONSULTING, INC FCN
Unless otherwise indicated or required by the context, when we use the terms "Company," "FTI Consulting," "we," "us" and "our," we mean FTI Consulting, Inc., a Maryland corporation, and its consolidated subsidiaries.
FTI Consulting is a leading global expert firm for organizations facing crisis and transformation. Individually, each of our segments and practices is staffed with experts recognized for the depth of their knowledge and a track record of making an impact.
•Strategic Communications.
The Company renamed its Corporate Finance & Restructuring segment to Corporate Finance to better align with the segment's business activities, structure and strategy, as of December 31, 2025. The segment name change did not result in any change to the composition of the segment and has no impact on previously reported financial information.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.79B | $3.70B | $3.49B | $3.03B | $2.78B | $2.46B | $2.35B | $2.03B | $1.81B | $1.81B |
| Cost of revenue | $2.57B | $2.52B | $2.35B | $2.07B | $1.92B | $1.67B | $1.53B | $1.33B | $1.22B | $1.21B |
| Gross profit | $1.22B | $1.18B | $1.14B | $962.9M | $860.7M | $788.6M | $817.8M | $699.8M | $592.2M | $599.6M |
| SG&A | $799.6M | $822.2M | $751.3M | $641.1M | $537.8M | $488.4M | $504.1M | $465.6M | $432.0M | $436.7M |
| Total operating expenses | $3.40B | $3.35B | $3.11B | $2.73B | $2.46B | $2.18B | $2.05B | $1.80B | $1.70B | $1.67B |
| Operating income | $389.1M | $347.4M | $377.6M | $303.9M | $312.0M | $282.7M | $305.6M | $226.0M | $108.7M | $142.2M |
| Interest expense | $21.4M | $7.0M | $14.3M | $10.0M | $20.3M | $19.8M | $19.2M | $27.1M | $25.4M | $24.8M |
| Pre-tax income | $371.0M | $350.8M | $358.4M | $297.7M | $297.9M | $262.4M | $288.4M | $207.8M | $87.1M | $127.8M |
| Income tax | $100.1M | $70.7M | $83.5M | $62.2M | $63.0M | $51.8M | $71.7M | $57.2M | $20.9M | $42.3M |
| Net income | $270.9M | $280.1M | $274.9M | $235.5M | $235.0M | $210.7M | $216.7M | $150.6M | $108.0M | $85.5M |
| EPS, basic | 8.33 | 7.96 | 8.10 | 6.99 | 7.02 | 5.92 | 5.89 | 4.06 | 2.79 | 2.09 |
| EPS, diluted | 8.24 | 7.81 | 7.71 | 6.58 | 6.65 | 5.67 | 5.69 | 3.93 | 2.75 | 2.05 |
| Shares, diluted (wtd. avg.) | $32.9M | $35.8M | $35.6M | $35.8M | $35.3M | $37.1M | $38.1M | $38.3M | $39.2M | $41.7M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $265.1M | $660.5M | $303.2M | $491.7M | $494.5M | $295.0M | $369.4M | $312.1M | $190.0M | $216.2M |
| Short-term investments | — | $0 | $25.5M | $0 | — | — | — | — | — | — |
| Receivables | $1.04B | $1.02B | $1.10B | $896.2M | $754.1M | $711.4M | $693.4M | $554.6M | $522.9M | $474.9M |
| Total current assets | $1.52B | $1.82B | $1.56B | $1.51B | $1.37B | $1.13B | $1.18B | $965.4M | $794.2M | $783.2M |
| Property, plant and equipment | $169.3M | $150.3M | $159.7M | $153.5M | $142.2M | $101.6M | $93.7M | $84.6M | $75.1M | $61.9M |
| Goodwill | $1.24B | $1.23B | $1.23B | $1.23B | $1.23B | $1.23B | $1.20B | $1.17B | $1.20B | $1.18B |
| Other intangibles | $13.5M | $16.8M | $18.3M | $25.5M | $32.0M | $41.5M | $38.4M | $34.6M | $44.1M | $52.1M |
| Total assets | $3.49B | $3.60B | $3.33B | $3.24B | $3.10B | $2.78B | $2.78B | $2.38B | $2.26B | $2.23B |
| Accounts payable | $15.0M | $26.0M | $21.7M | $20.3M | $16.2M | $13.1M | $18.3M | $17.7M | $14.1M | $15.8M |
| Short-term debt | — | — | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total current liabilities | $975.2M | $931.8M | $892.8M | $769.5M | $718.1M | $670.2M | $612.5M | $482.6M | $410.3M | $378.5M |
| Long-term debt | $365.0M | $0 | $0 | $315.2M | $297.2M | $286.1M | $275.6M | $265.6M | $396.3M | $365.5M |
| Total liabilities | $1.76B | $1.34B | $1.34B | $1.56B | $1.52B | $1.38B | $1.29B | $1.03B | $1.07B | $1.02B |
| Retained earnings | $1.86B | $2.39B | $2.11B | $1.86B | $1.70B | $1.51B | $1.41B | $1.20B | $1.05B | $941.0M |
| Total equity | $1.73B | $2.26B | $1.98B | $1.68B | $1.58B | $1.40B | $1.49B | $1.35B | $1.19B | $1.21B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $152.1M | $395.1M | $224.5M | $188.8M | $355.5M | $327.1M | $217.9M | $230.7M | $147.6M | $233.5M |
| Depreciation and amortisation | $45.8M | $43.9M | $41.1M | $35.9M | $34.3M | $32.6M | $30.1M | $26.2M | $24.4M | $26.7M |
| Stock-based compensation | $39.3M | $38.4M | $29.5M | $25.4M | $23.1M | $22.9M | $18.0M | $15.6M | $16.0M | $16.9M |
| Capital expenditure | $58.5M | $35.4M | $49.5M | $53.3M | $68.7M | $34.8M | $41.8M | $32.3M | $32.0M | $28.9M |
| Investing cash flow | -$58.5M | -$10.2M | -$73.8M | -$60.1M | -$79.1M | -$60.1M | -$60.6M | $18.7M | -$40.6M | -$30.1M |
| Financing cash flow | -$510.5M | -$15.4M | -$354.7M | -$106.0M | -$61.7M | -$360.1M | -$103.3M | -$117.5M | -$140.9M | -$125.3M |
| Buybacks | $858.7M | $10.2M | $21.0M | $85.4M | $46.1M | $353.6M | $105.8M | $55.7M | $168.1M | $21.5M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-165147.
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