FTI Consulting (FCN) Financials

$153.25 -1.21 (-0.79%)

Closing price 03:59 PM Eastern

Extended Trading

$153.22 -0.02 (-0.01%)

As of 05:52 PM Eastern

Annual Income Statements for FTI Consulting

This table shows FTI Consulting's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	59	66	86	108	151	-1,848	211	235	236	275	280
Consolidated Net Income / (Loss)	59	66	86	108	151	217	211	235	236	275	280
Net Income / (Loss) Continuing Operations	59	66	86	108	151	-1,848	211	235	236	275	280
Total Pre-Tax Income	101	105	128	87	208	288	262	298	298	358	351
Total Operating Income	147	165	142	109	226	306	283	312	304	378	347
Total Gross Profit	611	608	600	592	700	818	789	861	963	1,135	1,182
Total Revenue	1,756	1,779	1,810	1,808	2,028	2,353	2,461	2,776	3,029	3,489	3,699
Operating Revenue	1,756	1,779	1,810	1,808	2,028	2,353	2,461	2,776	3,029	3,489	3,699
Total Cost of Revenue	1,145	1,171	1,211	1,216	1,328	1,535	1,673	1,916	2,066	2,354	2,517
Operating Cost of Revenue	1,145	1,171	1,211	1,216	1,328	1,535	1,673	1,916	2,066	2,354	2,517
Total Operating Expenses	464	443	457	483	474	2,559	506	549	659	757	835
Selling, General & Admin Expense	434	433	437	432	466	504	488	538	641	751	822
Amortization Expense	16	12	10	11	8.16	8.15	10	11	9.64	6.16	4.18
Other Operating Expenses / (Income)	16	0.00	10	41	0.00	2,047	7.10	-	8.34	0.00	8.23
Total Other Income / (Expense), net	-46	-59	-14	-22	-18	-34	-20	-14	-6.13	-19	6.82
Interest Expense	46	59	14	22	31	17	20	14	6.13	19	-3.41
Other Income / (Expense), net	-	-	0.00	0.00	13	-17	-	-	-	-	3.41
Income Tax Expense	43	39	42	-21	57	72	52	63	62	83	71
Basic Earnings per Share	$1.48	$1.62	$2.09	$2.79	$4.06	$5.89	$5.92	$7.02	$6.99	$8.10	$7.96
Weighted Average Basic Shares Outstanding	39.73M	40.85M	40.94M	38.70M	37.10M	37.49M	34.24M	34.35M	33.93M	35.53M	35.92M
Diluted Earnings per Share	$1.44	$1.58	$2.05	$2.75	$3.93	$5.69	$5.67	$6.65	$6.58	$7.71	$7.81
Weighted Average Diluted Shares Outstanding	39.73M	40.85M	40.94M	38.70M	37.10M	37.49M	34.24M	34.35M	33.93M	35.53M	35.92M
Weighted Average Basic & Diluted Shares Outstanding	39.73M	40.85M	40.94M	38.70M	37.10M	37.49M	34.24M	34.35M	33.93M	35.53M	35.92M

This table shows FTI Consulting's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	62	83	82	80	84	66	50	76	72	83	48
Consolidated Net Income / (Loss)	62	83	82	80	84	66	50	62	72	83	58
Net Income / (Loss) Continuing Operations	62	83	82	80	84	66	50	62	72	83	58
Total Pre-Tax Income	85	108	103	99	103	89	60	81	92	112	79
Total Operating Income	89	107	115	100	104	91	53	79	99	118	84
Total Gross Profit	276	294	311	303	311	298	270	289	303	318	307
Total Revenue	865	893	925	929	949	926	895	898	944	956	983
Operating Revenue	865	893	925	929	949	926	895	898	944	956	983
Total Cost of Revenue	588	599	614	626	638	628	625	609	641	638	677
Operating Cost of Revenue	588	599	614	626	638	628	625	609	641	638	677
Total Operating Expenses	188	187	196	203	207	207	217	211	203	200	223
Selling, General & Admin Expense	186	186	195	202	206	206	208	184	202	199	222
Amortization Expense	1.42	1.34	1.22	1.02	1.08	1.05	1.03	1.02	1.05	0.78	0.61
Restructuring Charge	-	-	-	-	-	-	-	25	-	-	0.00
Total Other Income / (Expense), net	-3.61	1.35	-13	-0.28	-1.41	-2.11	10	1.87	-7.33	-5.94	-5.37
Interest Expense	3.61	-0.67	12	0.14	1.41	2.11	-7.06	-1.87	7.33	5.94	5.37
Income Tax Expense	23	24	21	20	19	22	10	19	20	29	21
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)	-	-	-	-	-	-	-	-15	-	-	10
Basic Earnings per Share	$1.87	$2.44	$2.36	$2.29	$2.38	$1.88	$1.41	$1.76	$2.16	$2.63	$1.92
Weighted Average Basic Shares Outstanding	34.03M	35.51M	35.53M	35.70M	35.90M	35.94M	35.92M	34.29M	32.36M	30.88M	30.14M
Diluted Earnings per Share	$1.75	$2.34	$2.28	$2.23	$2.34	$1.85	$1.39	$1.74	$2.13	$2.60	$1.90
Weighted Average Diluted Shares Outstanding	34.03M	35.51M	35.53M	35.70M	35.90M	35.94M	35.92M	34.29M	32.36M	30.88M	30.14M
Weighted Average Basic & Diluted Shares Outstanding	34.03M	35.51M	35.53M	35.70M	35.90M	35.94M	35.92M	34.29M	32.36M	30.88M	30.14M

This table details how cash moves in and out of FTI Consulting's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	78	-134	66	-26	122	57	-74	200	-2.80	-188	357
Net Cash From Operating Activities	135	140	233	148	231	218	327	355	189	224	395
Net Cash From Continuing Operating Activities	135	140	233	148	231	218	327	355	189	224	395
Net Income / (Loss) Continuing Operations	59	66	86	108	151	217	211	235	236	275	280
Consolidated Net Income / (Loss)	59	66	86	108	151	217	211	235	236	275	280
Depreciation Expense	35	31	39	31	32	30	33	34	36	41	44
Amortization Expense	16	12	12	13	14	20	22	23	43	36	57
Non-Cash Adjustments To Reconcile Net Income	51	50	25	48	26	29	50	41	54	78	89
Changes in Operating Assets and Liabilities, net	-25	-19	72	-53	8.53	-79	12	23	-180	-206	-75
Net Cash From Investing Activities	-58	-32	-30	-41	19	-61	-60	-79	-60	-74	-10
Net Cash From Continuing Investing Activities	-58	-32	-30	-41	19	-61	-60	-79	-60	-74	-10
Purchase of Property, Plant & Equipment	-39	-31	-29	-32	-32	-42	-35	-69	-53	-49	-35
Acquisitions	-23	-0.58	-1.25	-8.93	0.00	-	-25	-10	-6.74	0.00	0.00
Purchase of Investments	-	-	-	-	-	-	-	0.00	0.00	-24	25
Net Cash From Financing Activities	6.33	-236	-125	-141	-118	-103	-360	-62	-106	-355	-15
Net Cash From Continuing Financing Activities	6.33	-236	-125	-141	-118	-103	-360	-62	-106	-355	-15
Repayment of Debt	-7.15	-430	-130	-392	-650	-45	-286	-401	-170	-1,154	-597
Repurchase of Common Equity	-4.37	-27	-21	-168	-56	-106	-354	-46	-85	-21	-10
Issuance of Debt	4.77	218	27	425	552	47	290	403	165	835	600
Other Financing Activities, net	-	-0.75	-0.87	-5.67	-3.03	0.89	-9.77	-17	-15	-15	-8.13
Effect of Exchange Rate Changes	-6.29	-6.14	-12	7.75	-9.79	3.34	19	-15	-26	16	-12
Cash Interest Paid	48	47	23	23	22	7.61	7.75	9.10	7.84	14	5.92
Cash Income Taxes Paid	27	21	20	4.93	46	51	83	48	77	80	117

This table details how cash moves in and out of FTI Consulting's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Net Change in Cash & Equivalents	-35	-2.39	102	-59	-18	160	274	-509	1.71	-6.86	-67
Net Cash From Operating Activities	-11	107	383	-275	135	219	315	-465	56	202	-310
Net Cash From Continuing Operating Activities	-11	107	383	-275	135	219	315	-465	56	202	-310
Net Income / (Loss) Continuing Operations	62	83	82	80	84	66	50	62	72	83	58
Consolidated Net Income / (Loss)	62	83	82	80	84	66	50	62	72	83	58
Depreciation Expense	10	10	11	10	11	11	12	10	11	12	12
Amortization Expense	2.07	1.77	29	13	1.23	1.38	53	11	22	21	24
Non-Cash Adjustments To Reconcile Net Income	11	24	32	21	17	15	36	17	7.28	22	15
Changes in Operating Assets and Liabilities, net	-96	-12	229	-399	22	126	165	-565	-56	64	-418
Net Cash From Investing Activities	-11	-39	-6.26	21	-10	-7.03	-14	-18	-17	-15	-11
Net Cash From Continuing Investing Activities	-11	-39	-6.26	21	-10	-7.03	-14	-18	-17	-15	-11
Purchase of Property, Plant & Equipment	-11	-14	-6.26	-4.64	-10	-7.03	-14	-18	-17	-15	-11
Net Cash From Financing Activities	-25	-58	-288	199	-140	-63	-11	-32	-52	-193	258
Net Cash From Continuing Financing Activities	-25	-58	-288	199	-140	-63	-11	-32	-52	-193	258
Repayment of Debt	-178	-535	-397	-73	-385	-141	1.86	-73	-203	-253	-499
Repurchase of Common Equity	-	-	-	0.00	-	-	-10	-183	-354	-234	-127
Issuance of Debt	155	480	110	280	240	80	-	235	510	295	890
Other Financing Activities, net	-1.69	-3.25	-1.08	-8.71	5.01	-2.27	-2.16	-12	-4.61	-0.81	-5.95
Effect of Exchange Rate Changes	12	-12	13	-3.64	-2.43	11	-17	5.94	15	-0.75	-4.67
Cash Interest Paid	0.52	6.02	4.23	0.77	3.26	1.43	0.47	0.46	1.42	7.46	4.77
Cash Income Taxes Paid	45	9.64	13	26	49	9.72	32	40	66	23	10

This table presents FTI Consulting's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	2,229	2,225	2,257	2,379	2,783	2,777	3,101	3,241	3,326	3,597	3,491
Total Current Assets	742	783	794	965	1,179	1,130	1,370	1,511	1,555	1,820	1,518
Cash & Equivalents	150	216	190	312	369	295	494	492	303	660	265
Note & Lease Receivable	36	32	26	29	35	35	30	27	31	45	88
Accounts Receivable	500	475	523	555	693	711	754	896	1,102	1,020	1,038
Prepaid Expenses	56	60	56	69	81	88	91	95	119	94	127
Plant, Property, & Equipment, net	75	62	75	85	94	102	142	153	160	150	169
Total Noncurrent Assets	1,413	1,380	1,388	1,329	1,511	1,546	1,589	1,577	1,611	1,627	1,804
Noncurrent Note & Lease Receivables	107	105	98	84	69	61	54	56	75	109	251
Goodwill	1,198	1,180	1,205	1,172	1,203	1,235	1,233	1,228	1,235	1,227	1,243
Intangible Assets	64	52	44	35	38	42	32	26	18	17	14
Other Noncurrent Operating Assets	44	44	41	38	201	208	270	268	282	275	297
Total Liabilities & Shareholders' Equity	2,229	2,225	2,257	2,379	2,783	2,777	3,101	3,241	3,326	3,597	3,491
Total Liabilities	1,081	1,018	1,065	1,030	1,294	1,377	1,518	1,560	1,344	1,339	1,757
Total Current Liabilities	347	378	410	483	613	670	718	769	893	932	975
Accounts Payable	90	87	95	105	159	170	165	174	224	224	206
Current Employee Benefit Liabilities	228	262	269	334	417	456	508	542	601	640	712
Other Current Liabilities	-	-	47	44	37	44	46	54	68	68	57
Total Noncurrent Liabilities	734	640	655	548	681	707	799	790	452	407	782
Long-Term Debt	495	366	396	266	276	286	297	315	-	0.00	365
Noncurrent Deferred & Payable Income Tax Liabilities	140	174	124	155	151	158	171	162	141	112	100
Other Noncurrent Operating Liabilities	100	100	134	127	255	263	332	313	311	295	317
Commitments & Contingencies	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,148	1,207	1,192	1,349	1,489	1,400	1,583	1,682	1,981	2,258	1,734
Total Preferred & Common Equity	1,148	1,207	1,192	1,349	1,489	1,400	1,583	1,682	1,981	2,258	1,734
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,148	1,207	1,192	1,349	1,489	1,400	1,583	1,682	1,981	2,258	1,734
Common Stock	401	417	266	300	217	0.35	14	0.34	17	40	0.66
Retained Earnings	855	941	1,046	1,197	1,413	1,506	1,698	1,858	2,115	2,395	1,863
Accumulated Other Comprehensive Income / (Loss)	-109	-151	-120	-148	-141	-106	-129	-177	-150	-177	-130

This table presents FTI Consulting's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	3,082	3,101	3,246	3,319	3,325	3,358	3,517	3,348	3,494	3,490	3,507
Total Current Assets	1,393	1,352	1,480	1,567	1,545	1,569	1,716	1,429	1,503	1,499	1,557
Cash & Equivalents	327	239	204	201	244	226	386	151	153	146	198
Note & Lease Receivable	27	28	31	32	45	45	45	76	87	89	91
Accounts Receivable	948	988	1,138	1,207	1,157	1,191	1,184	1,096	1,127	1,141	1,148
Prepaid Expenses	91	98	108	127	98	107	100	105	137	123	119
Plant, Property, & Equipment, net	145	163	165	165	153	152	150	162	169	171	166
Total Noncurrent Assets	1,544	1,586	1,601	1,587	1,627	1,636	1,651	1,757	1,822	1,821	1,783
Noncurrent Note & Lease Receivables	54	62	75	74	97	106	108	231	275	269	246
Goodwill	1,213	1,230	1,232	1,226	1,231	1,231	1,240	1,232	1,243	1,241	1,240
Intangible Assets	26	22	21	19	19	18	18	16	15	14	13
Other Noncurrent Operating Assets	252	271	273	267	280	281	285	279	290	296	285
Total Liabilities & Shareholders' Equity	3,082	3,101	3,246	3,319	3,325	3,358	3,517	3,348	3,494	3,490	3,507
Total Liabilities	1,438	1,380	1,451	1,454	1,270	1,208	1,265	1,198	1,594	1,740	1,845
Total Current Liabilities	649	538	645	709	628	714	823	637	713	809	677
Accounts Payable	175	177	172	171	227	183	202	236	185	187	254
Current Employee Benefit Liabilities	423	309	421	481	333	464	557	333	467	562	369
Other Current Liabilities	51	52	52	57	68	68	65	68	62	60	53
Total Noncurrent Liabilities	789	842	806	746	642	494	442	561	881	931	1,168
Long-Term Debt	315	361	341	285	205	60	-	160	470	510	754
Noncurrent Deferred & Payable Income Tax Liabilities	161	158	156	158	136	136	139	111	107	107	103
Other Noncurrent Operating Liabilities	312	323	310	303	301	298	303	290	304	314	310
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,645	1,721	1,795	1,864	2,054	2,149	2,252	2,150	1,900	1,750	1,662
Total Preferred & Common Equity	1,645	1,721	1,795	1,864	2,054	2,149	2,252	2,150	1,900	1,750	1,662
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,645	1,721	1,795	1,864	2,054	2,149	2,252	2,150	1,900	1,750	1,662
Common Stock	0.34	0.34	5.81	10	22	34	42	0.35	0.33	0.31	0.30
Retained Earnings	1,868	1,887	1,950	2,033	2,195	2,279	2,345	2,311	2,028	1,882	1,801
Accumulated Other Comprehensive Income / (Loss)	-224	-167	-160	-179	-162	-164	-135	-162	-128	-133	-140

This table displays calculated financial ratios and metrics derived from FTI Consulting's official financial filings.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	6.28%	1.31%	1.76%	-0.15%	12.18%	16.02%	4.61%	12.80%	9.10%	15.20%	6.00%
EBITDA Growth	44.55%	4.82%	-6.97%	-21.08%	86.43%	19.17%	-0.50%	9.46%	3.69%	18.84%	-0.65%
EBIT Growth	81.03%	11.59%	-13.59%	-23.53%	119.88%	20.67%	-2.01%	10.40%	-2.62%	24.25%	-7.10%
NOPAT Growth	415.21%	20.61%	-7.75%	41.65%	21.58%	40.17%	-1.17%	8.45%	-2.33%	20.49%	-4.23%
Net Income Growth	655.10%	12.32%	29.47%	26.24%	39.50%	43.90%	-2.79%	11.53%	0.23%	16.72%	1.89%
EPS Growth	633.33%	9.72%	29.75%	34.15%	42.91%	44.78%	-0.35%	17.28%	-1.05%	17.17%	1.30%
Operating Cash Flow Growth	-29.94%	3.34%	66.87%	-36.77%	56.26%	-5.54%	50.11%	8.69%	-46.89%	18.89%	76.02%
Free Cash Flow Firm Growth	123.36%	7.06%	79.13%	-59.67%	178.81%	-47.43%	69.11%	8.89%	-51.82%	-3.74%	206.77%
Invested Capital Growth	-2.25%	-1.70%	-9.10%	3.06%	-6.86%	7.15%	-0.29%	-0.39%	8.60%	11.49%	-4.79%
Revenue Q/Q Growth	0.52%	0.97%	-0.02%	1.45%	1.87%	4.31%	1.00%	1.82%	3.35%	4.50%	-0.80%
EBITDA Q/Q Growth	4.89%	0.30%	-3.56%	12.49%	9.37%	-3.45%	7.51%	-5.13%	15.09%	18.49%	-1.46%
EBIT Q/Q Growth	7.63%	1.14%	-8.43%	28.10%	10.80%	-4.55%	8.75%	-6.00%	7.66%	12.64%	-14.37%
NOPAT Q/Q Growth	10.09%	9.81%	-3.04%	110.74%	-19.80%	0.76%	13.83%	-8.00%	5.77%	14.45%	-14.50%
Net Income Q/Q Growth	15.88%	16.65%	-3.66%	124.10%	-22.28%	2.52%	14.41%	-6.89%	4.11%	14.18%	-10.23%
EPS Q/Q Growth	12.50%	16.18%	-3.76%	125.41%	-21.56%	2.89%	16.19%	-6.73%	4.11%	13.88%	-10.23%
Operating Cash Flow Q/Q Growth	23.15%	-11.57%	12.15%	1.15%	9.92%	-1.53%	15.98%	3.94%	18.65%	217.45%	-14.62%
Free Cash Flow Firm Q/Q Growth	222.87%	-20.39%	16.20%	-12.61%	11.72%	-13.49%	17.30%	11.93%	4.35%	285.13%	-12.07%
Invested Capital Q/Q Growth	-7.72%	-5.38%	-8.13%	-2.49%	-7.36%	-5.45%	-5.88%	-8.88%	-7.79%	-13.87%	-14.37%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	34.82%	34.16%	33.12%	32.76%	34.51%	34.76%	32.04%	31.00%	31.79%	32.53%	31.96%
EBITDA Margin	11.28%	11.67%	10.67%	8.43%	14.01%	14.39%	13.69%	13.29%	12.63%	13.03%	12.21%
Operating Margin	8.39%	9.25%	7.85%	6.01%	11.14%	12.99%	11.48%	11.24%	10.03%	10.82%	9.39%
EBIT Margin	8.39%	9.25%	7.85%	6.01%	11.79%	12.26%	11.48%	11.24%	10.03%	10.82%	9.48%
Profit (Net Income) Margin	3.35%	3.71%	4.72%	5.97%	7.43%	9.21%	8.56%	8.46%	7.78%	7.88%	7.57%
Tax Burden Percent	57.99%	62.68%	66.92%	123.94%	72.48%	75.13%	80.28%	78.86%	79.10%	76.71%	79.85%
Interest Burden Percent	68.79%	64.06%	89.90%	80.13%	86.93%	100.00%	92.85%	95.48%	97.98%	94.92%	100.00%
Effective Tax Rate	42.01%	37.32%	33.08%	-23.94%	27.52%	24.87%	19.72%	21.14%	20.90%	23.29%	20.15%
Return on Invested Capital (ROIC)	5.57%	6.85%	6.68%	9.78%	12.13%	17.02%	16.29%	17.72%	16.63%	18.20%	16.93%
ROIC Less NNEP Spread (ROIC-NNEP)	-0.19%	-2.89%	2.79%	-5.28%	-4.39%	35.39%	47.93%	28.51%	19.22%	24.33%	16.37%
Return on Net Nonoperating Assets (RNNOA)	-0.08%	-0.98%	0.59%	-0.78%	-0.28%	-1.75%	-1.70%	-1.97%	-2.20%	-3.19%	-3.72%
Return on Equity (ROE)	5.48%	5.87%	7.26%	9.00%	11.86%	15.27%	14.58%	15.75%	14.43%	15.01%	13.21%
Cash Return on Invested Capital (CROIC)	7.84%	8.57%	16.22%	6.76%	19.24%	10.12%	16.57%	18.11%	8.38%	7.33%	21.84%
Operating Return on Assets (OROA)	6.20%	7.12%	6.38%	4.85%	10.31%	11.18%	10.17%	10.62%	9.58%	11.50%	10.13%
Return on Assets (ROA)	2.47%	2.86%	3.84%	4.82%	6.50%	8.40%	7.58%	7.99%	7.43%	8.37%	8.09%
Return on Common Equity (ROCE)	5.48%	5.87%	7.26%	9.00%	11.86%	15.27%	14.58%	15.75%	14.43%	15.01%	13.21%
Return on Equity Simple (ROE_SIMPLE)	5.33%	5.76%	7.08%	9.06%	11.17%	14.55%	15.05%	14.84%	14.00%	13.87%	12.40%
Net Operating Profit after Tax (NOPAT)	85	103	95	135	164	230	227	246	240	290	277
NOPAT Margin	4.87%	5.80%	5.25%	7.45%	8.08%	9.76%	9.22%	8.86%	7.94%	8.30%	7.50%
Net Nonoperating Expense Percent (NNEP)	5.76%	9.74%	3.89%	15.06%	16.52%	-18.37%	-31.64%	-10.79%	-2.59%	-6.14%	0.56%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	12.04%	14.62%	12.28%
Cost of Revenue to Revenue	65.18%	65.84%	66.88%	67.24%	65.49%	65.24%	67.96%	69.00%	68.21%	67.47%	68.04%
SG&A Expenses to Revenue	24.70%	24.32%	24.12%	23.90%	22.96%	21.43%	19.84%	19.37%	21.17%	21.53%	22.23%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	26.42%	24.91%	25.27%	26.74%	23.36%	108.78%	20.55%	19.76%	21.76%	21.71%	22.56%
Earnings before Interest and Taxes (EBIT)	147	165	142	109	239	288	283	312	304	378	351
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	198	208	193	152	284	339	337	369	382	455	452
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.44	1.27	1.58	1.37	1.90	2.80	2.85	3.32	3.25	3.57	3.04
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	18.03	16.80	32.19	16.51	12.75	9.71	6.77
Price to Revenue (P/Rev)	0.90	0.82	1.06	0.90	1.26	1.77	1.62	1.89	1.80	2.03	1.86
Price to Earnings (P/E)	26.95	22.01	22.34	15.10	16.98	0.00	18.91	22.39	23.21	25.73	24.53
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	3.71%	4.54%	4.48%	6.62%	5.89%	0.00%	5.29%	4.47%	4.31%	3.89%	4.08%
Enterprise Value to Invested Capital (EV/IC)	1.32	1.21	1.52	1.31	1.93	2.92	2.86	3.65	3.51	4.03	3.89
Enterprise Value to Revenue (EV/Rev)	1.14	1.01	1.14	1.02	1.24	1.73	1.62	1.82	1.75	1.94	1.68
Enterprise Value to EBITDA (EV/EBITDA)	10.10	8.67	10.66	12.05	8.84	12.02	11.80	13.73	13.83	14.89	13.75
Enterprise Value to EBIT (EV/EBIT)	13.57	10.94	14.49	16.90	10.51	14.11	14.06	16.23	17.41	17.93	17.70
Enterprise Value to NOPAT (EV/NOPAT)	23.40	17.45	21.65	13.63	15.33	17.73	17.52	20.57	22.01	23.37	22.39
Enterprise Value to Operating Cash Flow (EV/OCF)	14.77	12.86	8.82	12.44	10.89	18.68	12.15	14.24	28.02	30.15	15.72
Enterprise Value to Free Cash Flow (EV/FCFF)	16.61	13.95	8.92	19.71	9.67	29.81	17.21	20.14	43.66	58.04	17.36
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.63	0.43	0.30	0.33	0.20	0.19	0.20	0.19	0.19	0.00	0.00
Long-Term Debt to Equity	0.62	0.43	0.30	0.33	0.20	0.19	0.20	0.19	0.19	0.00	0.00
Financial Leverage	0.43	0.34	0.21	0.15	0.06	-0.05	-0.04	-0.07	-0.11	-0.13	-0.23
Leverage Ratio	2.22	2.05	1.89	1.87	1.82	1.82	1.92	1.97	1.94	1.79	1.63
Compound Leverage Factor	1.53	1.32	1.70	1.50	1.59	1.82	1.79	1.88	1.90	1.70	1.63
Debt to Total Capital	38.81%	30.13%	23.24%	24.95%	16.45%	15.62%	16.97%	15.80%	15.78%	0.00%	0.00%
Short-Term Debt to Total Capital	0.61%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	38.20%	30.13%	23.24%	24.95%	16.45%	15.62%	16.97%	15.80%	15.78%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	61.19%	69.87%	76.76%	75.05%	83.55%	84.38%	83.03%	84.20%	84.22%	100.00%	100.00%
Debt to EBITDA	3.53	2.38	1.89	2.60	0.93	0.81	0.85	0.81	0.82	0.00	0.00
Net Debt to EBITDA	2.10	1.66	0.77	1.35	-0.16	-0.28	-0.03	-0.54	-0.46	0.00	0.00
Long-Term Debt to EBITDA	3.48	2.38	1.89	2.60	0.93	0.81	0.85	0.81	0.82	0.00	0.00
Debt to NOPAT	8.18	4.80	3.84	2.94	1.62	1.20	1.26	1.21	1.31	0.00	0.00
Net Debt to NOPAT	4.86	3.35	1.57	1.53	-0.28	-0.41	-0.04	-0.80	-0.73	0.00	0.00
Long-Term Debt to NOPAT	8.05	4.80	3.84	2.94	1.62	1.20	1.26	1.21	1.31	0.00	0.00
Altman Z-Score	2.38	2.60	2.96	2.73	3.62	4.07	3.92	4.33	4.42	5.71	5.66
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.33	2.14	2.07	1.94	2.00	1.92	1.69	1.91	1.96	1.74	1.95
Quick Ratio	2.17	1.98	1.91	1.80	1.86	1.79	1.55	1.78	1.84	1.61	1.85
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	120	129	231	93	260	137	231	251	121	117	358
Operating Cash Flow to CapEx	344.92%	445.62%	806.94%	461.27%	714.82%	521.07%	938.53%	517.71%	354.08%	453.65%	1,115.84%
Free Cash Flow to Firm to Interest Expense	2.62	2.18	16.10	4.31	8.31	7.96	11.42	17.83	19.77	6.07	0.00
Operating Cash Flow to Interest Expense	2.94	2.37	16.27	6.83	7.38	12.71	16.18	25.21	30.80	11.69	0.00
Operating Cash Flow Less CapEx to Interest Expense	2.09	1.84	14.25	5.35	6.35	10.27	14.45	20.34	22.10	9.11	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.74	0.77	0.81	0.81	0.87	0.91	0.89	0.94	0.96	1.06	1.07
Accounts Receivable Turnover	3.65	3.61	3.71	3.62	3.76	3.77	3.50	3.79	3.67	3.49	3.49
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	21.79	22.68	26.50	26.40	25.40	26.40	25.20	22.77	20.49	22.29	23.87
Accounts Payable Turnover	10.11	12.37	13.67	13.34	13.32	11.65	10.17	11.43	12.19	11.84	11.23
Days Sales Outstanding (DSO)	99.92	101.03	98.25	100.73	96.97	96.81	104.16	96.34	99.43	104.52	104.72
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	36.09	29.50	26.70	27.35	27.41	31.33	35.90	31.93	29.94	30.83	32.50
Cash Conversion Cycle (CCC)	63.83	71.53	71.55	73.38	69.56	65.47	68.26	64.41	69.49	73.69	72.22
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,518	1,493	1,357	1,398	1,302	1,395	1,391	1,386	1,505	1,678	1,598
Invested Capital Turnover	1.14	1.18	1.27	1.31	1.50	1.74	1.77	2.00	2.10	2.19	2.26
Increase / (Decrease) in Invested Capital	-35	-26	-136	42	-96	93	-4.02	-5.37	119	173	-80
Enterprise Value (EV)	2,000	1,799	2,060	1,837	2,512	4,070	3,975	5,063	5,290	6,769	6,210
Market Capitalization	1,585	1,454	1,910	1,631	2,558	4,164	3,984	5,261	5,466	7,072	6,870
Book Value per Share	$26.88	$27.35	$28.49	$31.40	$35.14	$39.57	$39.26	$46.18	$48.85	$55.80	$62.83
Tangible Book Value per Share	($4.53)	($2.73)	($0.58)	($1.50)	$3.70	$6.59	$3.47	$9.29	$12.45	$20.52	$28.24
Total Capital	1,802	1,642	1,573	1,588	1,614	1,765	1,686	1,880	1,997	1,981	2,258
Total Debt	699	495	366	396	266	276	286	297	315	0.00	0.00
Total Long-Term Debt	688	495	366	396	266	276	286	297	315	0.00	0.00
Net Debt	416	345	149	206	-46	-94	-8.82	-197	-177	-303	-660
Capital Expenditures (CapEx)	39	31	29	32	32	42	35	69	53	49	35
Debt-free, Cash-free Net Working Capital (DFCFNWC)	217	245	189	194	171	197	165	157	249	359	227
Debt-free Net Working Capital (DFNWC)	501	395	405	384	483	566	460	652	741	663	888
Net Working Capital (NWC)	490	395	405	384	483	566	460	652	741	663	888
Net Nonoperating Expense (NNE)	27	37	9.60	27	13	13	16	11	4.85	15	-2.72
Net Nonoperating Obligations (NNO)	416	345	149	206	-46	-94	-8.82	-197	-177	-303	-660
Total Depreciation and Amortization (D&A)	51	43	51	44	45	50	54	57	79	77	101
Debt-free, Cash-free Net Working Capital to Revenue	12.36%	13.76%	10.42%	10.73%	8.42%	8.36%	6.69%	5.67%	8.23%	10.30%	6.14%
Debt-free Net Working Capital to Revenue	28.51%	22.18%	22.36%	21.23%	23.81%	24.06%	18.67%	23.48%	24.47%	18.99%	24.00%
Net Working Capital to Revenue	27.89%	22.18%	22.36%	21.23%	23.81%	24.06%	18.67%	23.48%	24.47%	18.99%	24.00%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.48	$1.62	$2.09	$2.79	$4.06	$5.89	$5.92	$7.02	$6.99	$8.10	$7.96
Adjusted Weighted Average Basic Shares Outstanding	41.37M	41.23M	41.20M	37.44M	37.86M	37.49M	34.24M	34.35M	33.93M	35.53M	35.92M
Adjusted Diluted Earnings per Share	$1.44	$1.58	$2.05	$2.75	$3.93	$5.69	$5.67	$6.65	$6.58	$7.71	$7.81
Adjusted Weighted Average Diluted Shares Outstanding	41.37M	41.23M	41.20M	37.44M	37.86M	37.49M	34.24M	34.35M	33.93M	35.53M	35.92M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	41.37M	41.23M	41.20M	37.44M	37.86M	37.49M	34.24M	34.35M	33.93M	35.53M	35.92M
Normalized Net Operating Profit after Tax (NOPAT)	85	102	95	76	164	230	227	246	240	290	277
Normalized NOPAT Margin	4.81%	5.75%	5.25%	4.21%	8.08%	9.76%	9.22%	8.86%	7.94%	8.30%	7.50%
Pre Tax Income Margin	5.77%	5.92%	7.06%	4.82%	10.25%	12.26%	10.66%	10.73%	9.83%	10.27%	9.48%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.20	2.78	9.90	5.03	7.65	16.82	13.98	22.13	49.58	19.67	0.00
NOPAT to Interest Expense	1.86	1.74	6.63	6.24	5.24	13.39	11.22	17.45	39.22	15.09	0.00
EBIT Less CapEx to Interest Expense	2.35	2.25	7.89	3.55	6.62	14.39	12.26	17.26	40.88	17.09	0.00
NOPAT Less CapEx to Interest Expense	1.00	1.21	4.61	4.76	4.21	10.95	9.50	12.58	30.52	12.51	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	7.43%	40.17%	25.13%	155.70%	37.01%	48.82%	167.83%	19.63%	36.27%	7.63%	3.65%

This table displays calculated financial ratios and metrics derived from FTI Consulting's official financial filings.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	30,876,070.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	30,876,070.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	1.54
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	14.52%	15.13%	19.40%	15.10%	9.78%	3.67%	-3.22%	-3.26%	-0.58%	3.26%	9.47%
EBITDA Growth	30.59%	20.46%	34.79%	40.77%	15.06%	-13.83%	-24.38%	-19.07%	2.84%	30.16%	20.16%
EBIT Growth	36.94%	22.79%	58.31%	49.15%	17.34%	-15.61%	-54.14%	-20.89%	-4.64%	29.46%	6.62%
NOPAT Growth	27.54%	13.74%	67.88%	57.62%	30.84%	-17.82%	-51.89%	-24.59%	-9.04%	28.19%	1.96%
Net Income Growth	21.33%	7.83%	71.87%	68.18%	34.54%	-20.23%	-39.11%	-22.69%	-14.59%	24.60%	-6.78%
EPS Growth	22.38%	8.84%	70.15%	66.42%	33.71%	-20.94%	-39.04%	-21.97%	-8.97%	40.54%	9.20%
Operating Cash Flow Growth	-131.37%	-16.85%	67.07%	-8.11%	1,330.00%	105.65%	-17.67%	-69.28%	-58.81%	-7.97%	33.36%
Free Cash Flow Firm Growth	-1,142.69%	-507.92%	-26.08%	17.74%	119.29%	164.54%	251.76%	10.45%	-556.70%	-206.69%	102.91%
Invested Capital Growth	14.38%	19.36%	11.49%	9.36%	2.63%	-4.23%	-4.79%	7.10%	11.81%	13.28%	2.74%
Revenue Q/Q Growth	7.18%	3.32%	3.52%	0.42%	2.22%	-2.44%	-3.36%	0.38%	5.05%	1.33%	0.00%
EBITDA Q/Q Growth	27.58%	18.80%	29.65%	-12.77%	4.28%	-11.03%	13.78%	-15.07%	32.42%	14.18%	0.00%
EBIT Q/Q Growth	32.79%	21.41%	6.80%	-13.38%	4.48%	-12.68%	-41.97%	49.22%	26.12%	18.54%	0.00%
NOPAT Q/Q Growth	28.02%	27.30%	10.06%	-12.13%	6.27%	-20.04%	-35.57%	37.74%	28.19%	12.68%	0.00%
Net Income Q/Q Growth	31.23%	33.53%	-2.02%	-2.04%	4.98%	-20.82%	-25.21%	24.37%	15.97%	15.51%	0.00%
EPS Q/Q Growth	30.60%	33.71%	-2.56%	-2.19%	4.93%	-20.94%	-24.86%	25.18%	22.41%	22.07%	0.00%
Operating Cash Flow Q/Q Growth	95.68%	1,070.30%	259.02%	-171.76%	149.21%	62.23%	43.73%	-247.54%	111.97%	262.51%	0.00%
Free Cash Flow Firm Q/Q Growth	-58.39%	-31.12%	64.90%	-12.85%	137.14%	338.76%	-17.47%	-166.59%	-89.39%	-2.50%	0.00%
Invested Capital Q/Q Growth	4.84%	0.84%	-13.87%	20.09%	-1.61%	-5.91%	-14.37%	35.09%	2.71%	-4.66%	0.00%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	31.98%	32.96%	33.62%	32.58%	32.81%	32.17%	30.18%	32.21%	32.06%	33.25%	31.20%
EBITDA Margin	11.67%	13.42%	16.80%	11.99%	12.23%	11.15%	13.13%	11.11%	14.00%	15.78%	12.19%
Operating Margin	10.26%	11.98%	12.44%	10.73%	10.97%	9.82%	5.89%	8.76%	10.52%	12.31%	8.53%
EBIT Margin	10.26%	12.06%	12.44%	10.73%	10.97%	9.82%	5.89%	8.76%	10.52%	12.31%	8.53%
Profit (Net Income) Margin	7.22%	9.33%	8.83%	8.61%	8.84%	7.18%	5.55%	6.88%	7.60%	8.66%	5.86%
Tax Burden Percent	73.32%	77.36%	79.23%	80.37%	81.75%	74.86%	83.12%	76.72%	77.98%	74.12%	73.37%
Interest Burden Percent	95.94%	100.00%	89.58%	99.86%	98.65%	97.68%	113.39%	102.38%	92.62%	94.95%	93.60%
Effective Tax Rate	26.68%	22.64%	20.77%	19.63%	18.25%	25.14%	16.88%	23.28%	22.02%	25.88%	26.63%
Return on Invested Capital (ROIC)	13.38%	17.29%	21.60%	16.14%	16.93%	14.37%	11.06%	11.82%	14.31%	16.93%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	10.68%	18.74%	25.56%	15.88%	24.76%	15.41%	9.84%	2.26%	6.73%	56.41%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.61%	0.38%	-3.35%	0.35%	-0.18%	-1.13%	-2.24%	-0.02%	0.25%	-0.31%	0.00%
Return on Equity (ROE)	13.99%	17.67%	18.26%	16.49%	16.74%	13.23%	8.82%	11.80%	14.56%	16.62%	0.00%
Cash Return on Invested Capital (CROIC)	0.04%	-3.52%	7.33%	7.60%	14.73%	21.34%	21.84%	5.49%	0.76%	1.08%	-2.70%
Operating Return on Assets (OROA)	10.58%	12.58%	13.22%	12.06%	12.27%	10.71%	6.30%	9.63%	11.25%	12.97%	0.00%
Return on Assets (ROA)	7.44%	9.73%	9.38%	9.68%	9.90%	7.83%	5.94%	7.57%	8.12%	9.13%	0.00%
Return on Common Equity (ROCE)	13.99%	17.67%	18.26%	16.49%	16.74%	13.23%	8.82%	11.80%	14.56%	16.62%	0.00%
Return on Equity Simple (ROE_SIMPLE)	13.07%	12.91%	0.00%	14.96%	15.30%	13.85%	0.00%	12.19%	13.14%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	65	83	91	80	85	68	44	60	77	87	62
NOPAT Margin	7.52%	9.27%	9.86%	8.62%	8.97%	7.35%	4.90%	6.72%	8.20%	9.12%	6.26%
Net Nonoperating Expense Percent (NNEP)	2.70%	-1.46%	-3.96%	0.27%	-7.84%	-1.04%	1.22%	9.56%	7.58%	-39.48%	1.40%
Return On Investment Capital (ROIC_SIMPLE)	-	-	4.60%	-	-	-	1.94%	2.61%	3.27%	3.86%	2.55%
Cost of Revenue to Revenue	68.02%	67.04%	66.38%	67.42%	67.19%	67.83%	69.82%	67.79%	67.94%	66.75%	68.80%
SG&A Expenses to Revenue	21.56%	20.83%	21.05%	21.74%	21.73%	22.25%	23.25%	20.52%	21.43%	20.86%	22.61%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	21.72%	20.98%	21.18%	21.85%	21.84%	22.36%	24.28%	23.45%	21.54%	20.94%	22.67%
Earnings before Interest and Taxes (EBIT)	89	108	115	100	104	91	53	79	99	118	84
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	101	120	155	111	116	103	118	100	132	151	120
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.60	3.26	3.57	3.63	3.58	3.63	3.04	2.74	2.91	2.99	3.28
Price to Tangible Book Value (P/TBV)	11.91	9.81	9.71	9.28	8.55	8.22	6.77	6.53	8.62	10.59	13.35
Price to Revenue (P/Rev)	2.01	1.82	2.03	2.07	2.08	2.19	1.86	1.61	1.51	1.42	0.00
Price to Earnings (P/E)	27.54	25.22	25.73	24.30	23.40	26.18	24.53	22.50	22.18	19.66	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	3.63%	3.97%	3.89%	4.12%	4.27%	3.82%	4.08%	4.44%	4.51%	5.09%	0.00%
Enterprise Value to Invested Capital (EV/IC)	3.42	3.16	4.03	3.69	3.80	4.17	3.89	2.73	2.64	2.65	2.71
Enterprise Value to Revenue (EV/Rev)	2.05	1.84	1.94	2.06	2.04	2.09	1.68	1.61	1.60	1.51	0.00
Enterprise Value to EBITDA (EV/EBITDA)	18.14	16.05	14.89	16.19	15.88	16.99	13.75	13.91	13.67	12.08	0.00
Enterprise Value to EBIT (EV/EBIT)	20.89	18.36	17.93	18.10	17.68	19.00	17.70	18.08	18.20	16.06	0.00
Enterprise Value to NOPAT (EV/NOPAT)	27.09	24.32	23.37	23.29	22.20	23.99	22.39	22.91	23.41	20.77	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	71.49	87.05	30.15	36.44	21.50	16.82	15.72	28.84	46.77	51.95	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	9,453.47	0.00	58.04	50.69	26.11	19.13	17.36	51.53	366.27	259.43	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.19	0.15	0.00	0.10	0.03	0.00	0.00	0.07	0.25	0.29	0.45
Long-Term Debt to Equity	0.19	0.15	0.00	0.10	0.03	0.00	0.00	0.07	0.25	0.29	0.45
Financial Leverage	0.06	0.02	-0.13	0.02	-0.01	-0.07	-0.23	-0.01	0.04	-0.01	0.15
Leverage Ratio	1.82	1.82	1.79	1.70	1.67	1.66	1.63	1.59	1.69	1.75	1.80
Compound Leverage Factor	1.75	1.82	1.61	1.70	1.65	1.62	1.85	1.62	1.57	1.66	1.68
Debt to Total Capital	15.95%	13.26%	0.00%	9.07%	2.72%	0.00%	0.00%	6.93%	19.83%	22.57%	31.22%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	15.95%	13.26%	0.00%	9.07%	2.72%	0.00%	0.00%	6.93%	19.83%	22.57%	31.22%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	84.05%	86.74%	100.00%	90.93%	97.28%	100.00%	100.00%	93.07%	80.17%	77.43%	68.78%
Debt to EBITDA	0.94	0.74	0.00	0.45	0.13	0.00	0.00	0.38	1.10	1.10	0.00
Net Debt to EBITDA	0.38	0.22	0.00	-0.08	-0.35	0.00	0.00	0.02	0.74	0.79	0.00
Long-Term Debt to EBITDA	0.94	0.74	0.00	0.45	0.13	0.00	0.00	0.38	1.10	1.10	0.00
Debt to NOPAT	1.40	1.13	0.00	0.64	0.18	0.00	0.00	0.62	1.88	1.89	0.00
Net Debt to NOPAT	0.56	0.33	0.00	-0.12	-0.49	0.00	0.00	0.03	1.27	1.35	0.00
Long-Term Debt to NOPAT	1.40	1.13	0.00	0.64	0.18	0.00	0.00	0.62	1.88	1.89	0.00
Altman Z-Score	4.90	4.79	5.45	5.97	6.28	6.26	5.38	5.38	4.31	3.97	2.87
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.30	2.21	1.74	2.46	2.20	2.08	1.95	2.24	2.11	1.85	2.30
Quick Ratio	2.13	2.03	1.61	2.30	2.05	1.96	1.85	2.08	1.92	1.70	2.12
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-178	-233	-82	-92	34	151	124	-83	-157	-161	2.41
Operating Cash Flow to CapEx	-99.81%	751.39%	6,122.88%	-5,922.80%	1,344.19%	3,120.98%	2,305.10%	-2,613.10%	319.62%	1,353.71%	-2,919.79%
Free Cash Flow to Firm to Interest Expense	-49.33	0.00	-6.83	-669.48	24.33	71.48	0.00	0.00	-21.39	-27.03	0.45
Operating Cash Flow to Interest Expense	-3.05	0.00	31.96	-1,991.43	95.91	104.17	0.00	0.00	7.60	33.98	-57.72
Operating Cash Flow Less CapEx to Interest Expense	-6.10	0.00	31.44	-2,025.06	88.77	100.83	0.00	0.00	5.22	31.47	-59.70
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.03	1.04	1.06	1.12	1.12	1.09	1.07	1.10	1.07	1.05	0.00
Accounts Receivable Turnover	3.15	3.10	3.49	3.37	3.17	3.12	3.49	3.26	3.16	3.18	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	20.86	21.57	22.29	22.86	23.30	23.65	23.87	23.29	22.82	23.01	0.00
Accounts Payable Turnover	12.99	13.10	11.84	12.01	13.95	13.46	11.23	10.80	13.62	12.94	0.00
Days Sales Outstanding (DSO)	115.77	117.79	104.52	108.44	114.99	117.06	104.72	112.11	115.46	114.90	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	28.09	27.86	30.83	30.38	26.16	27.12	32.50	33.79	26.80	28.21	0.00
Cash Conversion Cycle (CCC)	87.68	89.93	73.69	78.05	88.83	89.94	72.22	78.32	88.67	86.69	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,932	1,948	1,678	2,015	1,983	1,866	1,598	2,159	2,217	2,114	2,218
Invested Capital Turnover	1.78	1.87	2.19	1.87	1.89	1.96	2.26	1.76	1.74	1.86	0.00
Increase / (Decrease) in Invested Capital	243	316	173	172	51	-82	-80	143	234	248	59
Enterprise Value (EV)	6,600	6,155	6,769	7,428	7,527	7,784	6,210	5,903	5,855	5,595	6,014
Market Capitalization	6,463	6,071	7,072	7,467	7,694	8,170	6,870	5,894	5,537	5,231	5,458
Book Value per Share	$52.83	$54.79	$55.80	$57.55	$60.21	$62.73	$62.83	$59.84	$55.41	$54.07	$55.13
Tangible Book Value per Share	$15.97	$18.19	$20.52	$22.53	$25.21	$27.70	$28.24	$25.11	$18.73	$15.27	$13.57
Total Capital	2,136	2,149	1,981	2,259	2,209	2,252	2,258	2,310	2,370	2,260	2,416
Total Debt	341	285	0.00	205	60	0.00	0.00	160	470	510	754
Total Long-Term Debt	341	285	0.00	205	60	0.00	0.00	160	470	510	754
Net Debt	137	84	-303	-39	-166	-386	-660	8.88	317	364	556
Capital Expenditures (CapEx)	11	14	6.26	4.64	10	7.03	14	18	17	15	11
Debt-free, Cash-free Net Working Capital (DFCFNWC)	632	658	359	673	629	506	227	640	637	544	682
Debt-free Net Working Capital (DFNWC)	836	859	663	917	855	893	888	792	790	690	880
Net Working Capital (NWC)	836	859	663	917	855	893	888	792	790	690	880
Net Nonoperating Expense (NNE)	2.64	-0.52	9.49	0.11	1.15	1.58	-5.87	-1.44	5.71	4.40	3.94
Net Nonoperating Obligations (NNO)	137	84	-303	-39	-166	-386	-660	8.88	317	364	556
Total Depreciation and Amortization (D&A)	12	12	40	12	12	12	65	21	33	33	36
Debt-free, Cash-free Net Working Capital to Revenue	19.62%	19.69%	10.30%	18.64%	17.02%	13.58%	6.14%	17.46%	17.38%	14.72%	0.00%
Debt-free Net Working Capital to Revenue	25.94%	25.72%	18.99%	25.39%	23.14%	23.95%	24.00%	21.58%	21.55%	18.67%	0.00%
Net Working Capital to Revenue	25.94%	25.72%	18.99%	25.39%	23.14%	23.95%	24.00%	21.58%	21.55%	18.67%	0.00%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.87	$2.44	$2.36	$2.29	$2.38	$1.88	$1.41	$1.76	$2.16	$2.63	$1.92
Adjusted Weighted Average Basic Shares Outstanding	34.03M	35.51M	35.53M	35.70M	35.90M	35.94M	35.92M	34.29M	32.36M	30.88M	30.14M
Adjusted Diluted Earnings per Share	$1.75	$2.34	$2.28	$2.23	$2.34	$1.85	$1.39	$1.74	$2.13	$2.60	$1.90
Adjusted Weighted Average Diluted Shares Outstanding	34.03M	35.51M	35.53M	35.70M	35.90M	35.94M	35.92M	34.29M	32.36M	30.88M	30.14M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	34.03M	35.51M	35.53M	35.70M	35.90M	35.94M	35.92M	34.29M	32.36M	30.88M	30.14M
Normalized Net Operating Profit after Tax (NOPAT)	65	83	91	80	85	68	44	60	77	87	62
Normalized NOPAT Margin	7.52%	9.27%	9.86%	8.62%	8.97%	7.35%	4.90%	6.72%	8.20%	9.12%	6.26%
Pre Tax Income Margin	9.84%	12.06%	11.14%	10.72%	10.82%	9.59%	6.68%	8.97%	9.74%	11.69%	7.99%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	24.60	0.00	9.60	721.98	73.82	43.16	0.00	0.00	13.55	19.80	15.62
NOPAT to Interest Expense	18.04	0.00	7.60	580.26	60.35	32.31	0.00	0.00	10.57	14.68	11.46
EBIT Less CapEx to Interest Expense	21.55	0.00	9.08	688.36	66.69	39.82	0.00	0.00	11.17	17.29	13.65
NOPAT Less CapEx to Interest Expense	14.98	0.00	7.08	546.64	53.22	28.97	0.00	0.00	8.19	12.17	9.49
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	44.02%	34.42%	7.63%	0.00%	0.00%	0.00%	3.65%	73.62%	219.02%	293.59%	0.00%

Financials Breakdown Chart

Key Financial Trends

Here are the key trends for FTI Consulting, Inc. (FCN) based on the latest quarterly data across the last four years. The bullets below are targeted to help retail investors gauge where FCN is showing strength, where volatility remains, and what to watch going forward.

Revenue growth: In Q3 2025 FCN posted revenue of $956,167,000, up from $926,019,000 in Q3 2024, signaling continuing top-line momentum.
Earnings per share strength: Q3 2025 basic EPS was $2.63 (vs. $2.44 in Q3 2024), and Q1 2026 shows $1.92 vs. $1.76 in Q1 2025, indicating improving profitability in several recent quarters.
Healthy margins on a solid quarter: Q1 2026 shows gross profit of $306,827,000 on revenue of $983,345,000, implying a gross margin of about 31.2% and a positive operating frame (operating income of $83,917,000 on $983M revenue).
Liquidity remains solid: FCN had approximately $198.3 million in cash and equivalents at 2026-Q1, with total current assets around $1.556 billion and total current liabilities about $676.8 million, implying a rough current ratio near 2.3.
Financing activity for liquidity: In 2026-Q1 FCN issued debt of $890 million, contributing to net cash from financing activities of about $258.5 million, supporting liquidity and potential strategic moves.

Operating cash flow is volatile: 2026-Q1 net cash from continuing operating activities was negative (-$310.0 million), driven largely by working-capital movements (net change in operating assets and liabilities was -$418.3 million in Q1 2026). This mirrors prior quarters where significant working-capital swings also affected cash from operations.
Capex is modest and steady: Quarterly purchases of property, plant and equipment (PPE) are in the low tens of millions (e.g., Q1 2026 PPE spend of about $10.6 million; similar patterns seen in other quarters), suggesting ongoing asset investment without heavy capital outlays.
Debt dynamics are evolving: Long-term debt rose to about $754.3 million in 2026-Q1, up from prior levels (e.g., ~$470 million in late-2024), and there was substantial debt issuance in early 2026, indicating a shift toward higher leverage to fund financing needs.

Sustained negative operating cash flow risk: Recurrent negative OCF in quarters like 2025-Q1 (-$465.2 million) and 2026-Q1 (-$310.0 million) raises questions about the sustainability of cash generation from operations if working-capital cycles persist.
Investing cash outflows persist: Net cash from investing activities has been negative in several recent quarters (e.g., 2025-Q1 around -$17.8 million; 2026-Q1 around -$10.6 million), reducing overall cash generation even when the top line and financing activities are favorable.
Rising leverage risk: A notable debt expansion in 2026-Q1 (debt issuance of $890 million and long-term debt at $754.3 million) increases interest costs and financing sensitivity should revenue growth slow or operating cash flow weaken.

Bottom line for FCN investors: FCN shows solid top-line momentum and improving profitability in several quarters, along with healthy liquidity and active use of financing to support growth. However, operating cash flow remains volatile due to working-capital swings, and a rising debt load could heighten financial risk if revenue growth slows or margin pressure mounts. Monitoring quarterly cash flow from operations, debt levels, and the sustainability of working-capital changes will be important as FCN continues to execute its strategy.

05/21/26 10:22 PM ETAI Generated. May Contain Errors.

FTI Consulting Financials - Frequently Asked Questions

According to the most recent income statement we have on file, FTI Consulting's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

FTI Consulting's net income appears to be on an upward trend, with a most recent value of $280.09 million in 2024, rising from $58.81 million in 2014. The previous period was $274.89 million in 2023. Find out what analysts predict for FTI Consulting in the coming months.

FTI Consulting's total operating income in 2024 was $347.36 million, based on the following breakdown:

Total Gross Profit: $1.18 billion
Total Operating Expenses: $834.56 million

Over the last 10 years, FTI Consulting's total revenue changed from $1.76 billion in 2014 to $3.70 billion in 2024, a change of 110.6%.

FTI Consulting's total liabilities were at $1.76 billion at the end of 2025, a 31.2% increase from 2024, and a 62.5% increase since 2015.

In the past 10 years, FTI Consulting's cash and equivalents has ranged from $149.76 million in 2015 to $660.49 million in 2024, and is currently $265.09 million as of their latest financial filing in 2025.

Over the last 10 years, FTI Consulting's book value per share changed from 26.88 in 2014 to 62.83 in 2024, a change of 133.7%.

Related Companies

Financial statements for NYSE:FCN last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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FTI Consulting (FCN) Financials

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FTI Consulting (FCN) Financials

Annual Income Statements for FTI Consulting

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