FCN Industrials

FTI Consulting, Inc.

$193.65+0.98%

Price as of close on Nov 3, 2026 · Financials updated Oct 8, 2026

Basics

Sector: Industrials
Industry: Consulting Services
Country: United States
Market cap: 5.3B USD
Enterprise value: 5.0B USD
Full-time employees: 8,124

Overall health

Drawback: more debt relative to equity (0.76× vs a peer median of 0.40×)more debt vs equity (0.76× vs peers 0.40×)
About average: valuation and risk (debt, liquidity and share-price swings)valuation and risk

Ranks #726 of 2,308 industrials companies (top 32%)

See how it ranks against its peers

Worth knowing

Returning more cash than it generates. Paid out $890M vs $628M of free cash flow over the 3 fiscal years to 2025.
FTI Consulting returned $890M to shareholders over three years, 142% of the free cash flow it produced. That gap has to be covered by cash reserves or new debt, which can't last indefinitely.
Share count shrinking. Shares outstanding down 19% from December 2022 to July 2026.
FTI Consulting had 19% fewer shares at July 2026 than at December 2022, mainly through buybacks, so each remaining share owns a larger slice of the business.
Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $2.5B in 2020 to $3.8B in 2025.
FTI Consulting's fiscal-year revenue rose in each of the five years to 2025, from $2.5B to $3.8B.
Profit is backed by cash. Free cash flow is 142% of reported profit.
FTI Consulting's free cash flow is 142% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.

StockQuotient Score

60/ 100▼ 2 since Oct 27 close

Oct 5 64 → Nov 4 60 (-4)

Valuation

Is the price right?

55/100

Moderate▼ 9 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

Share count down 8.4%

Valuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 64 → 55

Share price +21.9%-9
Company's reported figures updated+1
Peer companies moved-1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Helped by:

▲ FCF yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield4.7%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score 0.32Sector median: 0.0377 · MAD: 0.0294

EBITDA yield7.0%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score 0.00Sector median: 0.0695 · MAD: 0.0425

Free cash flow yield6.7%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score 0.81Sector median: 0.0370 · MAD: 0.0370

Other data (not scored)

Book yield24.9%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.5027 · MAD: 0.2823

Growth

Is it growing?

61/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ EPS growth
▲ 3-yr revenue

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth18.6%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.47Sector median: 0.0709 · MAD: 0.2481

3-year revenue growth6.8%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score 0.41Sector median: 0.0421 · MAD: 0.0625

Revenue growth7.1%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.36Sector median: 0.0439 · MAD: 0.0766

Profitability

Does it earn well?

73/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ ROA
▲ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin9.7%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.39Sector median: 0.0773 · MAD: 0.0507

Return on assets7.2%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 1.68Sector median: 0.0311 · MAD: 0.0241

Return on invested capital13.7%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 1.18Sector median: 0.0715 · MAD: 0.0558

Other data (not scored)

Gross margin31.8%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.2573 · MAD: 0.1038

Return on equity19.0%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0802 · MAD: 0.0639

Risk

Debt, liquidity, price swings

Moderate

Moderate relative risk

2/3 inputs reported · Partial data

Since last quarter: Changed: worth a look

Debt up 35%

Why

Mixed versus peers:

▲ Current ratio
▼ Debt / equity

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

BetaUnavailable

Missing · left out of the score · no sector data, so not countedNot counted · remaining weights rescaledSector median: 0.6440 · MAD: 0.2745

Current ratio2.03×

SEC filings · latest balance sheetReported value33% base weight · Z-score 0.76Sector median: 1.6180 · MAD: 0.5360

Debt / equity0.76×

SEC filings · latest balance sheetReported value33% base weight · Z-score -1.07Sector median: 0.4019 · MAD: 0.3378

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about FTI Consulting

Is FTI Consulting getting weaker?: Its latest SEC filing (Jul 30, 2026) got stronger: share count down 8.4%; debt up 35%. Its overall score is 60/100, down 2 since Oct 28, 2026.
How is FTI Consulting valued vs its peers?: Priced about in line with its peers. Valuation scores 55/100 against 2,459 industrials peers. Free cash flow yield 6.7% vs a peer median of 3.7% (stronger than 72% of peers).Free cash flow yield 6.7% vs peers 3.7% (stronger than 72% of peers).
Is FTI Consulting growing?: Yes, faster than most of its peers. Growth scores 61/100 against 2,459 industrials peers. Earnings per share growth 18.6% vs a peer median of 7.1% (stronger than 66% of peers).Earnings per share growth 18.6% vs peers 7.1% (stronger than 66% of peers).
How profitable is FTI Consulting?: More profitable than most of its peers. Profitability scores 73/100 against 2,459 industrials peers. Return on assets 7.2% vs a peer median of 3.1% (stronger than 84% of peers).Return on assets 7.2% vs peers 3.1% (stronger than 84% of peers).
How risky is FTI Consulting?: Moderate risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Current ratio 2.03× vs a peer median of 1.62× (stronger than 66% of peers).Current ratio 2.03× vs peers 1.62× (stronger than 66% of peers). Debt / equity 0.76× vs a peer median of 0.40× (weaker than 68% of peers).Debt / equity 0.76× vs peers 0.40× (weaker than 68% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Jul 30, 2026 · compared with the quarter ended Mar 31, 2026

Got stronger

Share count down 8.4%
Debt up 35%

	Previous quarter	Latest quarter	Change
Revenue (12 months)	3.9B USD	3.9B USD	+1.3%
Net income (12 months)	266.7M USD	252.8M USD	−5.2%
Operating margin	10.2%	9.7%	−0.5 pts
Free cash flow (12 months)	256.0M USD	358.7M USD	+40.1%
Debt	754.3M USD	1.0B USD	+35.1%
Cash	198.3M USD	163.7M USD	−17.4%
Shares outstanding	30.1M	27.6M	−8.4%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Sector: Industrials · 318 companies

Valuations in Industrials are near the top of their range since 2016.

85% of months since 2016 were valued lower than now.
41% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +20% and earnings +14% (medians): prices and earnings moved broadly together.
Median price-to-sales is −24% vs the whole market, against a usual −31%.

2016Shaded: most expensive fifth of its range2026

Shown for Industrials: too few Consulting Services companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	—	31.8%	32.5%	32.0%	32.1%	▲ 0.2 pts
Operating margin	11.2%	10.0%	10.8%	9.4%	10.3%	▲ 0.9 pts
Net margin	8.5%	7.8%	7.9%	7.6%	7.1%	▼ 0.4 pts
Return on assets (ROA)	7.6%	7.3%	8.3%	7.8%	7.8%	▼ 0.0 pts
Return on equity (ROE)	14.8%	14.0%	13.9%	12.4%	15.6%	▲ 3.2 pts
Free cash flow margin	10.3%	4.5%	5.0%	9.7%	2.5%	▼ 7.3 pts
Current ratio	1.91×	1.96×	1.74×	1.95×	1.56×	▼ 20%
Debt to equity	0.19×	0.19×	0.00×	0.00×	0.21×	—
Interest coverage	15.38×	30.25×	26.35×	49.97×	18.18×	▼ 64%

FCN price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Worth knowing

Returning more cash than it generates. Paid out $890M vs $628M of free cash flow over the 3 fiscal years to 2025.

FTI Consulting returned $890M to shareholders over three years, 142% of the free cash flow it produced. That gap has to be covered by cash reserves or new debt, which can't last indefinitely.

Share count shrinking. Shares outstanding down 19% from December 2022 to July 2026.

FTI Consulting had 19% fewer shares at July 2026 than at December 2022, mainly through buybacks, so each remaining share owns a larger slice of the business.

Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $2.5B in 2020 to $3.8B in 2025.

FTI Consulting's fiscal-year revenue rose in each of the five years to 2025, from $2.5B to $3.8B.

Profit is backed by cash. Free cash flow is 142% of reported profit.

FTI Consulting's free cash flow is 142% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.

Questions investors ask about FTI Consulting

Is FTI Consulting getting weaker?

Its latest SEC filing (Jul 30, 2026) got stronger: share count down 8.4%; debt up 35%. Its overall score is 60/100, down 2 since Oct 28, 2026.

How is FTI Consulting valued vs its peers?

Priced about in line with its peers. Valuation scores 55/100 against 2,459 industrials peers. Free cash flow yield 6.7% vs a peer median of 3.7% (stronger than 72% of peers).Free cash flow yield 6.7% vs peers 3.7% (stronger than 72% of peers).

Is FTI Consulting growing?

Yes, faster than most of its peers. Growth scores 61/100 against 2,459 industrials peers. Earnings per share growth 18.6% vs a peer median of 7.1% (stronger than 66% of peers).Earnings per share growth 18.6% vs peers 7.1% (stronger than 66% of peers).

How profitable is FTI Consulting?

More profitable than most of its peers. Profitability scores 73/100 against 2,459 industrials peers. Return on assets 7.2% vs a peer median of 3.1% (stronger than 84% of peers).Return on assets 7.2% vs peers 3.1% (stronger than 84% of peers).

How risky is FTI Consulting?

Moderate risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Current ratio 2.03× vs a peer median of 1.62× (stronger than 66% of peers).Current ratio 2.03× vs peers 1.62× (stronger than 66% of peers). Debt / equity 0.76× vs a peer median of 0.40× (weaker than 68% of peers).Debt / equity 0.76× vs peers 0.40× (weaker than 68% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

3.9B USD

3.9B USD

+1.3%

Net income (12 months)

266.7M USD

252.8M USD

−5.2%

Operating margin

10.2%

9.7%

−0.5 pts

Free cash flow (12 months)

256.0M USD

358.7M USD

+40.1%

Debt

754.3M USD

1.0B USD

+35.1%

Cash

198.3M USD

163.7M USD

−17.4%

Shares outstanding

30.1M

27.6M

−8.4%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

—

31.8%

32.5%

32.0%

32.1%

▲ 0.2 pts

Operating margin

11.2%

10.0%

10.8%

9.4%

10.3%

▲ 0.9 pts

Net margin

8.5%

7.8%

7.9%

7.6%

7.1%

▼ 0.4 pts

Return on assets (ROA)

7.6%

7.3%

8.3%

7.8%

▼ 0.0 pts

Return on equity (ROE)

14.8%

14.0%

13.9%

12.4%

15.6%

▲ 3.2 pts

Free cash flow margin

10.3%

4.5%

5.0%

9.7%

2.5%

▼ 7.3 pts

Current ratio

1.91×

1.96×

1.74×

1.95×

1.56×

▼ 20%

Debt to equity

0.19×

0.00×

0.21×

—

Interest coverage

15.38×

30.25×

26.35×

49.97×

18.18×

▼ 64%