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FTI Consulting (FCN) Financials

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$151.23 -0.20 (-0.13%)
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Annual Income Statements for FTI Consulting

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

Quarterly Income Statements for FTI Consulting

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 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 83 82 80 84 66 50 76 105 83 48 58
Consolidated Net Income / (Loss)		 83 82 80 84 66 50 62 72 83 58 58
Net Income / (Loss) Continuing Operations		 83 82 80 84 66 50 62 72 83 58 58
Total Pre-Tax Income 		108 103 99 103 89 60 81 92 112 79 73
Total Operating Income		 107 115 100 104 91 53 79 99 118 84 85
Total Gross Profit		 294 311 303 311 298 270 289 303 318 307 316
Total Revenue		 893 925 929 949 926 895 898 944 956 983 993
Operating Revenue		 893 925 929 949 926 895 898 944 956 983 993
Total Cost of Revenue		 599 614 626 638 628 625 609 641 638 677 677
Operating Cost of Revenue		 599 614 626 638 628 625 609 641 638 677 677
Total Operating Expenses		 187 196 203 207 207 217 211 203 200 223 231
Selling, General & Admin Expense		 186 195 202 206 206 208 184 202 199 222 231
Amortization Expense		 1.34 1.22 1.02 1.08 1.05 1.03 1.02 1.05 0.78 0.61 0.54
Restructuring Charge		 - - - - - - 25 0.00 - 0.00 0.00
Total Other Income / (Expense), net		 1.35 -13 -0.28 -1.41 -2.11 10 1.87 -7.33 -5.94 -5.37 -12
Interest Expense		 -0.67 12 0.14 1.41 2.11 -7.06 -1.87 7.33 5.94 5.37 12
Income Tax Expense		 24 21 20 19 22 10 19 20 29 21 15
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)		 - - - - - - -15 -34 - 10 0.20
Basic Earnings per Share		 $2.44 $2.36 $2.29 $2.38 $1.88 $1.41 $1.76 $2.16 $2.63 $1.92 $2.01
Weighted Average Basic Shares Outstanding		 35.51M 35.53M 35.70M 35.90M 35.94M 35.92M 34.29M 32.36M 30.88M 30.14M 27.61M
Diluted Earnings per Share		 $2.34 $2.28 $2.23 $2.34 $1.85 $1.39 $1.74 $2.13 $2.60 $1.90 $1.99
Weighted Average Diluted Shares Outstanding		 35.51M 35.53M 35.70M 35.90M 35.94M 35.92M 34.29M 32.36M 30.88M 30.14M 27.61M
Weighted Average Basic & Diluted Shares Outstanding		 35.51M 35.53M 35.70M 35.90M 35.94M 35.92M 34.29M 32.36M 30.88M 30.14M 27.61M

Annual Cash Flow Statements for FTI Consulting

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

Quarterly Cash Flow Statements for FTI Consulting

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 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
Net Change in Cash & Equivalents		 -2.39 102 -59 -18 160 274 -509 1.71 -6.86 -67 -35
Net Cash From Operating Activities		 107 383 -275 135 219 315 -465 56 202 -310 152
Net Cash From Continuing Operating Activities		 107 383 -275 135 219 315 -465 56 202 -310 152
Net Income / (Loss) Continuing Operations		 83 82 80 84 66 50 62 72 83 58 58
Consolidated Net Income / (Loss)		 83 82 80 84 66 50 62 72 83 58 58
Depreciation Expense		 10 11 10 11 11 12 10 11 12 12 12
Amortization Expense		 1.77 29 13 1.23 1.38 53 11 22 21 24 40
Non-Cash Adjustments To Reconcile Net Income		 24 32 21 17 15 36 17 7.28 22 15 23
Changes in Operating Assets and Liabilities, net		 -12 229 -399 22 126 165 -565 -56 64 -418 19
Net Cash From Investing Activities		 -39 -6.26 21 -10 -7.03 -14 -18 -17 -15 -11 -53
Net Cash From Continuing Investing Activities		 -39 -6.26 21 -10 -7.03 -14 -18 -17 -15 -11 -53
Purchase of Property, Plant & Equipment		 -14 -6.26 -4.64 -10 -7.03 -14 -18 -17 -15 -11 -11
Net Cash From Financing Activities		 -58 -288 199 -140 -63 -11 -32 -52 -193 258 -134
Net Cash From Continuing Financing Activities		 -58 -288 199 -140 -63 -11 -32 -52 -193 258 -134
Repayment of Debt		 -535 -397 -73 -385 -141 1.86 -73 -203 -253 -499 -234
Repurchase of Common Equity		 - - 0.00 - - -10 -183 -354 -234 -127 -393
Issuance of Debt		 480 110 280 240 80 - 235 510 295 890 495
Other Financing Activities, net		 -3.25 -1.08 -8.71 5.01 -2.27 -2.16 -12 -4.61 -0.81 -5.95 -2.15
Effect of Exchange Rate Changes		 -12 13 -3.64 -2.43 11 -17 5.94 15 -0.75 -4.67 0.53
Cash Interest Paid		 6.02 4.23 0.77 3.26 1.43 0.47 0.46 1.42 7.46 4.77 12
Cash Income Taxes Paid		 9.64 13 26 49 9.72 32 40 66 23 10 18

Annual Balance Sheets for FTI Consulting

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 Deferred Revenue		 29 30 - - - - - - - - 57
Current Employee Benefit Liabilities		 228 262 269 334 417 456 508 542 601 640 712
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

Quarterly Balance Sheets for FTI Consulting

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 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
Total Assets		 3,101 3,246 3,319 3,325 3,358 3,517 3,348 3,494 3,490 3,507 3,535
Total Current Assets		 1,352 1,480 1,567 1,545 1,569 1,716 1,429 1,503 1,499 1,557 1,587
Cash & Equivalents		 239 204 201 244 226 386 151 153 146 198 164
Note & Lease Receivable		 28 31 32 45 45 45 76 87 89 91 94
Accounts Receivable		 988 1,138 1,207 1,157 1,191 1,184 1,096 1,127 1,141 1,148 1,158
Prepaid Expenses		 98 108 127 98 107 100 105 137 123 119 171
Plant, Property, & Equipment, net		 163 165 165 153 152 150 162 169 171 166 164
Total Noncurrent Assets		 1,586 1,601 1,587 1,627 1,636 1,651 1,757 1,822 1,821 1,783 1,784
Noncurrent Note & Lease Receivables		 62 75 74 97 106 108 231 275 269 246 242
Goodwill		 1,230 1,232 1,226 1,231 1,231 1,240 1,232 1,243 1,241 1,240 1,240
Intangible Assets		 22 21 19 19 18 18 16 15 14 13 12
Other Noncurrent Operating Assets		 271 273 267 280 281 285 279 290 296 285 291
Total Liabilities & Shareholders' Equity		 3,101 3,246 3,319 3,325 3,358 3,517 3,348 3,494 3,490 3,507 3,535
Total Liabilities		 1,380 1,451 1,454 1,270 1,208 1,265 1,198 1,594 1,740 1,845 2,201
Total Current Liabilities		 538 645 709 628 714 823 637 713 809 677 782
Accounts Payable		 177 172 171 227 183 202 236 185 187 254 219
Current Employee Benefit Liabilities		 309 421 481 333 464 557 333 467 562 369 505
Other Current Liabilities		 52 52 57 68 68 65 68 62 60 53 58
Total Noncurrent Liabilities		 842 806 746 642 494 442 561 881 931 1,168 1,418
Long-Term Debt		 361 341 285 205 60 - 160 470 510 754 1,019
Noncurrent Deferred & Payable Income Tax Liabilities		 158 156 158 136 136 139 111 107 107 103 99
Other Noncurrent Operating Liabilities		 323 310 303 301 298 303 290 304 314 310 300
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		 1,721 1,795 1,864 2,054 2,149 2,252 2,150 1,900 1,750 1,662 1,334
Total Preferred & Common Equity		 1,721 1,795 1,864 2,054 2,149 2,252 2,150 1,900 1,750 1,662 1,334
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		 1,721 1,795 1,864 2,054 2,149 2,252 2,150 1,900 1,750 1,662 1,334
Common Stock		 0.34 5.81 10 22 34 42 0.35 0.33 0.31 0.30 0.28
Retained Earnings		 1,887 1,950 2,033 2,195 2,279 2,345 2,311 2,028 1,882 1,801 1,474
Accumulated Other Comprehensive Income / (Loss)		 -167 -160 -179 -162 -164 -135 -162 -128 -133 -140 -140

Annual Metrics And Ratios for FTI Consulting

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%

Quarterly Metrics And Ratios for FTI Consulting

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
DEI Shares Outstanding		 - - - - - - - - - 30,876,070.00 30,144,043.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 30,876,070.00 30,144,043.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - 1.54 1.91
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 15.13% 19.40% 15.10% 9.78% 3.67% -3.22% -3.26% -0.58% 3.26% 9.47% 5.28%
EBITDA Growth		 20.46% 34.79% 40.77% 15.06% -13.83% -24.38% -19.07% 2.84% 30.16% 20.16% 4.17%
EBIT Growth		 22.79% 58.31% 49.15% 17.34% -15.61% -54.14% -20.89% -4.64% 29.46% 6.62% -14.35%
NOPAT Growth		 13.74% 67.88% 57.62% 30.84% -17.82% -51.89% -24.59% -9.04% 28.19% 1.96% -13.01%
Net Income Growth		 7.83% 71.87% 68.18% 34.54% -20.23% -39.11% -22.69% -14.59% 24.60% -6.78% -19.37%
EPS Growth		 8.84% 70.15% 66.42% 33.71% -20.94% -39.04% -21.97% -8.97% 40.54% 9.20% -6.57%
Operating Cash Flow Growth		 -16.85% 67.07% -8.11% 1,330.00% 105.65% -17.67% -69.28% -58.81% -7.97% 33.36% 173.45%
Free Cash Flow Firm Growth		 -507.92% -26.08% 17.74% 119.29% 164.54% 251.76% 10.45% -556.70% -206.69% 102.91% 160.54%
Invested Capital Growth		 19.36% 11.49% 9.36% 2.63% -4.23% -4.79% 7.10% 11.81% 13.28% 2.74% -1.24%
Revenue Q/Q Growth		 3.32% 3.52% 0.42% 2.22% -2.44% -3.36% 0.38% 5.05% 1.33% 0.00% 1.03%
EBITDA Q/Q Growth		 18.80% 29.65% -12.77% 4.28% -11.03% 13.78% -15.07% 32.42% 14.18% 0.00% 14.80%
EBIT Q/Q Growth		 21.41% 6.80% -13.38% 4.48% -12.68% -41.97% 49.22% 26.12% 18.54% 0.00% 1.32%
NOPAT Q/Q Growth		 27.30% 10.06% -12.13% 6.27% -20.04% -35.57% 37.74% 28.19% 12.68% 0.00% 9.37%
Net Income Q/Q Growth		 33.53% -2.02% -2.04% 4.98% -20.82% -25.21% 24.37% 15.97% 15.51% 0.00% 0.31%
EPS Q/Q Growth		 33.71% -2.56% -2.19% 4.93% -20.94% -24.86% 25.18% 22.41% 22.07% 0.00% 4.74%
Operating Cash Flow Q/Q Growth		 1,070.30% 259.02% -171.76% 149.21% 62.23% 43.73% -247.54% 111.97% 262.51% 0.00% 149.12%
Free Cash Flow Firm Q/Q Growth		 -31.12% 64.90% -12.85% 137.14% 338.76% -17.47% -166.59% -89.39% -2.50% 0.00% 3,838.26%
Invested Capital Q/Q Growth		 0.84% -13.87% 20.09% -1.61% -5.91% -14.37% 35.09% 2.71% -4.66% 0.00% -1.27%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 32.96% 33.62% 32.58% 32.81% 32.17% 30.18% 32.21% 32.06% 33.25% 31.20% 31.84%
EBITDA Margin		 13.42% 16.80% 11.99% 12.23% 11.15% 13.13% 11.11% 14.00% 15.78% 12.19% 13.86%
Operating Margin		 11.98% 12.44% 10.73% 10.97% 9.82% 5.89% 8.76% 10.52% 12.31% 8.53% 8.56%
EBIT Margin		 12.06% 12.44% 10.73% 10.97% 9.82% 5.89% 8.76% 10.52% 12.31% 8.53% 8.56%
Profit (Net Income) Margin		 9.33% 8.83% 8.61% 8.84% 7.18% 5.55% 6.88% 7.60% 8.66% 5.86% 5.82%
Tax Burden Percent		 77.36% 79.23% 80.37% 81.75% 74.86% 83.12% 76.72% 77.98% 74.12% 73.37% 79.20%
Interest Burden Percent		 100.00% 89.58% 99.86% 98.65% 97.68% 113.39% 102.38% 92.62% 94.95% 93.60% 85.85%
Effective Tax Rate		 22.64% 20.77% 19.63% 18.25% 25.14% 16.88% 23.28% 22.02% 25.88% 26.63% 20.80%
Return on Invested Capital (ROIC)		 17.29% 21.60% 16.14% 16.93% 14.37% 11.06% 11.82% 14.31% 16.93% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 18.74% 25.56% 15.88% 24.76% 15.41% 9.84% 2.26% 6.73% 56.41% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.38% -3.35% 0.35% -0.18% -1.13% -2.24% -0.02% 0.25% -0.31% 0.00% 0.00%
Return on Equity (ROE)		 17.67% 18.26% 16.49% 16.74% 13.23% 8.82% 11.80% 14.56% 16.62% 0.00% 0.00%
Cash Return on Invested Capital (CROIC)		 -3.52% 7.33% 7.60% 14.73% 21.34% 21.84% 5.49% 0.76% 1.08% -2.70% 1.25%
Operating Return on Assets (OROA)		 12.58% 13.22% 12.06% 12.27% 10.71% 6.30% 9.63% 11.25% 12.97% 0.00% 0.00%
Return on Assets (ROA)		 9.73% 9.38% 9.68% 9.90% 7.83% 5.94% 7.57% 8.12% 9.13% 0.00% 0.00%
Return on Common Equity (ROCE)		 17.67% 18.26% 16.49% 16.74% 13.23% 8.82% 11.80% 14.56% 16.62% 0.00% 0.00%
Return on Equity Simple (ROE_SIMPLE)		 12.91% 0.00% 14.96% 15.30% 13.85% 0.00% 12.19% 13.14% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 83 91 80 85 68 44 60 77 87 62 67
NOPAT Margin		 9.27% 9.86% 8.62% 8.97% 7.35% 4.90% 6.72% 8.20% 9.12% 6.26% 6.78%
Net Nonoperating Expense Percent (NNEP)		 -1.46% -3.96% 0.27% -7.84% -1.04% 1.22% 9.56% 7.58% -39.48% 1.40% 1.63%
Return On Investment Capital (ROIC_SIMPLE)		 - 4.60% - - - 1.94% 2.61% 3.27% 3.86% 2.55% 2.86%
Cost of Revenue to Revenue		 67.04% 66.38% 67.42% 67.19% 67.83% 69.82% 67.79% 67.94% 66.75% 68.80% 68.16%
SG&A Expenses to Revenue		 20.83% 21.05% 21.74% 21.73% 22.25% 23.25% 20.52% 21.43% 20.86% 22.61% 23.22%
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		 20.98% 21.18% 21.85% 21.84% 22.36% 24.28% 23.45% 21.54% 20.94% 22.67% 23.28%
Earnings before Interest and Taxes (EBIT)		 108 115 100 104 91 53 79 99 118 84 85
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 120 155 111 116 103 118 100 132 151 120 138
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 3.26 3.57 3.63 3.58 3.63 3.04 2.74 2.91 2.99 3.28 3.37
Price to Tangible Book Value (P/TBV)		 9.81 9.71 9.28 8.55 8.22 6.77 6.53 8.62 10.59 13.35 54.90
Price to Revenue (P/Rev)		 1.82 2.03 2.07 2.08 2.19 1.86 1.61 1.51 1.42 0.00 0.00
Price to Earnings (P/E)		 25.22 25.73 24.30 23.40 26.18 24.53 22.50 22.18 19.66 0.00 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		 3.97% 3.89% 4.12% 4.27% 3.82% 4.08% 4.44% 4.51% 5.09% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 3.16 4.03 3.69 3.80 4.17 3.89 2.73 2.64 2.65 2.71 2.44
Enterprise Value to Revenue (EV/Rev)		 1.84 1.94 2.06 2.04 2.09 1.68 1.61 1.60 1.51 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 16.05 14.89 16.19 15.88 16.99 13.75 13.91 13.67 12.08 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 18.36 17.93 18.10 17.68 19.00 17.70 18.08 18.20 16.06 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 24.32 23.37 23.29 22.20 23.99 22.39 22.91 23.41 20.77 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 87.05 30.15 36.44 21.50 16.82 15.72 28.84 46.77 51.95 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 58.04 50.69 26.11 19.13 17.36 51.53 366.27 259.43 0.00 194.26
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.15 0.00 0.10 0.03 0.00 0.00 0.07 0.25 0.29 0.45 0.76
Long-Term Debt to Equity		 0.15 0.00 0.10 0.03 0.00 0.00 0.07 0.25 0.29 0.45 0.76
Financial Leverage		 0.02 -0.13 0.02 -0.01 -0.07 -0.23 -0.01 0.04 -0.01 0.15 0.36
Leverage Ratio		 1.82 1.79 1.70 1.67 1.66 1.63 1.59 1.69 1.75 1.80 2.17
Compound Leverage Factor		 1.82 1.61 1.70 1.65 1.62 1.85 1.62 1.57 1.66 1.68 1.87
Debt to Total Capital		 13.26% 0.00% 9.07% 2.72% 0.00% 0.00% 6.93% 19.83% 22.57% 31.22% 43.32%
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		 13.26% 0.00% 9.07% 2.72% 0.00% 0.00% 6.93% 19.83% 22.57% 31.22% 43.32%
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		 86.74% 100.00% 90.93% 97.28% 100.00% 100.00% 93.07% 80.17% 77.43% 68.78% 56.69%
Debt to EBITDA		 0.74 0.00 0.45 0.13 0.00 0.00 0.38 1.10 1.10 0.00 0.00
Net Debt to EBITDA		 0.22 0.00 -0.08 -0.35 0.00 0.00 0.02 0.74 0.79 0.00 0.00
Long-Term Debt to EBITDA		 0.74 0.00 0.45 0.13 0.00 0.00 0.38 1.10 1.10 0.00 0.00
Debt to NOPAT		 1.13 0.00 0.64 0.18 0.00 0.00 0.62 1.88 1.89 0.00 0.00
Net Debt to NOPAT		 0.33 0.00 -0.12 -0.49 0.00 0.00 0.03 1.27 1.35 0.00 0.00
Long-Term Debt to NOPAT		 1.13 0.00 0.64 0.18 0.00 0.00 0.62 1.88 1.89 0.00 0.00
Altman Z-Score		 4.79 5.45 5.97 6.28 6.26 5.38 5.38 4.31 3.97 2.87 2.16
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		 2.21 1.74 2.46 2.20 2.08 1.95 2.24 2.11 1.85 2.30 2.03
Quick Ratio		 2.03 1.61 2.30 2.05 1.96 1.85 2.08 1.92 1.70 2.12 1.81
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -233 -82 -92 34 151 124 -83 -157 -161 2.41 95
Operating Cash Flow to CapEx		 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% 1,351.68%
Free Cash Flow to Firm to Interest Expense		 0.00 -6.83 -669.48 24.33 71.48 0.00 0.00 -21.39 -27.03 0.45 7.89
Operating Cash Flow to Interest Expense		 0.00 31.96 -1,991.43 95.91 104.17 0.00 0.00 7.60 33.98 -57.72 12.66
Operating Cash Flow Less CapEx to Interest Expense		 0.00 31.44 -2,025.06 88.77 100.83 0.00 0.00 5.22 31.47 -59.70 11.72
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.04 1.06 1.12 1.12 1.09 1.07 1.10 1.07 1.05 0.00 0.00
Accounts Receivable Turnover		 3.10 3.49 3.37 3.17 3.12 3.49 3.26 3.16 3.18 0.00 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		 21.57 22.29 22.86 23.30 23.65 23.87 23.29 22.82 23.01 0.00 0.00
Accounts Payable Turnover		 13.10 11.84 12.01 13.95 13.46 11.23 10.80 13.62 12.94 0.00 0.00
Days Sales Outstanding (DSO)		 117.79 104.52 108.44 114.99 117.06 104.72 112.11 115.46 114.90 0.00 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)		 27.86 30.83 30.38 26.16 27.12 32.50 33.79 26.80 28.21 0.00 0.00
Cash Conversion Cycle (CCC)		 89.93 73.69 78.05 88.83 89.94 72.22 78.32 88.67 86.69 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 1,948 1,678 2,015 1,983 1,866 1,598 2,159 2,217 2,114 2,218 2,190
Invested Capital Turnover		 1.87 2.19 1.87 1.89 1.96 2.26 1.76 1.74 1.86 0.00 0.00
Increase / (Decrease) in Invested Capital		 316 173 172 51 -82 -80 143 234 248 59 -28
Enterprise Value (EV)		 6,155 6,769 7,428 7,527 7,784 6,210 5,903 5,855 5,595 6,014 5,347
Market Capitalization		 6,071 7,072 7,467 7,694 8,170 6,870 5,894 5,537 5,231 5,458 4,492
Book Value per Share		 $54.79 $55.80 $57.55 $60.21 $62.73 $62.83 $59.84 $55.41 $54.07 $55.13 $44.25
Tangible Book Value per Share		 $18.19 $20.52 $22.53 $25.21 $27.70 $28.24 $25.11 $18.73 $15.27 $13.57 $2.71
Total Capital		 2,149 1,981 2,259 2,209 2,252 2,258 2,310 2,370 2,260 2,416 2,353
Total Debt		 285 0.00 205 60 0.00 0.00 160 470 510 754 1,019
Total Long-Term Debt		 285 0.00 205 60 0.00 0.00 160 470 510 754 1,019
Net Debt		 84 -303 -39 -166 -386 -660 8.88 317 364 556 856
Capital Expenditures (CapEx)		 14 6.26 4.64 10 7.03 14 18 17 15 11 11
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 658 359 673 629 506 227 640 637 544 682 641
Debt-free Net Working Capital (DFNWC)		 859 663 917 855 893 888 792 790 690 880 804
Net Working Capital (NWC)		 859 663 917 855 893 888 792 790 690 880 804
Net Nonoperating Expense (NNE)		 -0.52 9.49 0.11 1.15 1.58 -5.87 -1.44 5.71 4.40 3.94 9.53
Net Nonoperating Obligations (NNO)		 84 -303 -39 -166 -386 -660 8.88 317 364 556 856
Total Depreciation and Amortization (D&A)		 12 40 12 12 12 65 21 33 33 36 53
Debt-free, Cash-free Net Working Capital to Revenue		 19.69% 10.30% 18.64% 17.02% 13.58% 6.14% 17.46% 17.38% 14.72% 0.00% 0.00%
Debt-free Net Working Capital to Revenue		 25.72% 18.99% 25.39% 23.14% 23.95% 24.00% 21.58% 21.55% 18.67% 0.00% 0.00%
Net Working Capital to Revenue		 25.72% 18.99% 25.39% 23.14% 23.95% 24.00% 21.58% 21.55% 18.67% 0.00% 0.00%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $2.44 $2.36 $2.29 $2.38 $1.88 $1.41 $1.76 $2.16 $2.63 $1.92 $2.01
Adjusted Weighted Average Basic Shares Outstanding		 35.51M 35.53M 35.70M 35.90M 35.94M 35.92M 34.29M 32.36M 30.88M 30.14M 27.61M
Adjusted Diluted Earnings per Share		 $2.34 $2.28 $2.23 $2.34 $1.85 $1.39 $1.74 $2.13 $2.60 $1.90 $1.99
Adjusted Weighted Average Diluted Shares Outstanding		 35.51M 35.53M 35.70M 35.90M 35.94M 35.92M 34.29M 32.36M 30.88M 30.14M 27.61M
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		 35.51M 35.53M 35.70M 35.90M 35.94M 35.92M 34.29M 32.36M 30.88M 30.14M 27.61M
Normalized Net Operating Profit after Tax (NOPAT)		 83 91 80 85 68 44 60 77 87 62 67
Normalized NOPAT Margin		 9.27% 9.86% 8.62% 8.97% 7.35% 4.90% 6.72% 8.20% 9.12% 6.26% 6.78%
Pre Tax Income Margin		 12.06% 11.14% 10.72% 10.82% 9.59% 6.68% 8.97% 9.74% 11.69% 7.99% 7.35%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 9.60 721.98 73.82 43.16 0.00 0.00 13.55 19.80 15.62 7.07
NOPAT to Interest Expense		 0.00 7.60 580.26 60.35 32.31 0.00 0.00 10.57 14.68 11.46 5.60
EBIT Less CapEx to Interest Expense		 0.00 9.08 688.36 66.69 39.82 0.00 0.00 11.17 17.29 13.65 6.13
NOPAT Less CapEx to Interest Expense		 0.00 7.08 546.64 53.22 28.97 0.00 0.00 8.19 12.17 9.49 4.66
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		 34.42% 7.63% 0.00% 0.00% 0.00% 3.65% 73.62% 219.02% 293.59% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

FTI Consulting (NYSE: FCN) showed continued revenue growth in the second quarter of 2026, but the balance sheet and cash-flow statements point to higher financial risk. Revenue increased to $993.5 million, up 5.3% from $943.7 million in Q2 2025 and 1.0% from Q1 2026. The company’s longer-term revenue trend is also favorable, rising from $775.9 million in Q3 2022 to nearly $1.0 billion in Q2 2026.

Profitability was more mixed. Gross profit increased 4.5% year over year to $316.3 million, but the gross margin narrowed to approximately 31.8% from 32.1%. Operating income fell 14.3% year over year to $85.0 million, as selling, general and administrative expense increased faster than revenue. Net income attributable to common shareholders declined to $57.6 million from $105.5 million in Q2 2025, although the prior-year comparison includes a substantial favorable adjustment.

Cash generation improved substantially from the first quarter, when operating cash flow was negative $310.0 million. FTI Consulting generated $152.3 million of operating cash flow in Q2 2026, compared with $55.7 million in Q2 2025. However, first-half operating cash flow remained negative at approximately $157.7 million because of significant working-capital outflows, particularly changes in operating assets and liabilities.

  • Revenue growth remains intact: Q2 2026 revenue rose 5.3% year over year, extending a multi-year growth trend from roughly $776 million in Q3 2022 to nearly $1.0 billion.
  • Quarterly operating cash flow rebounded: Operating cash flow improved to $152.3 million in Q2 from negative $310.0 million in Q1 and exceeded the $55.7 million recorded in Q2 2025.
  • Liquidity remains adequate on a current basis: Cash and equivalents totaled $163.7 million, while total current assets of $1.59 billion exceeded current liabilities of $782.4 million by approximately $806 million.
  • Share repurchases are supporting per-share results: The company repurchased $393.2 million of common stock during Q2, and diluted weighted-average shares declined to 27.6 million from 32.4 million in Q2 2025. Diluted EPS was $1.99 despite the decline in reported net income.
  • Capital spending is relatively controlled: Q2 purchases of property, plant and equipment were $11.3 million, a modest amount relative to quarterly operating cash flow.
  • Accounts receivable continue to represent a substantial asset concentration: Receivables were approximately $1.16 billion, or nearly three-quarters of current assets. This supports the consulting business but makes cash conversion dependent on timely collections.
  • Goodwill remains elevated: Goodwill was approximately $1.24 billion, representing about 35% of total assets. While the balance was broadly stable, future impairment charges could affect reported earnings and equity.
  • Leverage increased sharply: Long-term debt rose to approximately $1.02 billion from $754.3 million in Q1 2026 and $510 million in Q3 2025. Total liabilities reached $2.20 billion, up from $1.84 billion at the end of Q1.
  • Debt issuance helped fund capital returns: FTI Consulting issued $495 million of debt in Q2 while repaying $233.6 million and repurchasing $393.2 million of stock. This combination produced negative financing cash flow of $134.0 million and raises questions about the sustainability of buybacks at higher leverage.
  • Operating profitability weakened: Operating income fell to $85.0 million from $99.3 million in Q2 2025, and the operating margin declined to approximately 8.6% from 10.5%. Interest expense also increased to $12.0 million from $7.3 million, adding pressure to pretax earnings.

Overall, FTI Consulting’s top-line expansion and improved second-quarter cash generation are encouraging. However, higher debt, increased interest expense, weaker operating margins and negative first-half operating cash flow are important risks for investors. The company’s future financial profile will depend on whether cash conversion remains strong enough to support both debt reduction and continued share repurchases.

08/10/26 12:07 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 financial year ends in December. Their financial 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. See FTI Consulting's forecast for analyst expectations on what's next for the company.

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%.


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Financial statements for NYSE:FCN last updated on 7/30/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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