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FCN

FTI Consulting, Inc.

FCN

FTI Consulting, Inc. • NYSE
$163.15 ▼ -0.49% (-0.80)
Market Cap $5.51 B
52w High $208.28
52w Low $149.31
Dividend Yield 0%
P/E 20.89
Volume 129.99K
Outstanding Shares 33.78M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $956.167M ▲ $200.264M ▼ $82.818M ▲ 8.661% ▲ $2.63 ▲ $132.265M ▲
Q2-2025 $943.662M ▲ $203.257M ▼ $71.698M ▲ 7.598% ▲ $2.16 ▲ $111.64M ▲
Q1-2025 $898.282M ▲ $210.647M ▼ $61.824M ▲ 6.882% ▲ $1.76 ▲ $92.711M ▲
Q4-2024 $894.924M ▼ $217.315M ▲ $49.71M ▼ 5.555% ▼ $1.41 ▼ $73.292M ▼
Q3-2024 $926.019M $207.048M $66.466M 7.178% $1.88 $102.948M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $145.967M ▼ $3.49B ▼ $1.74B ▲ $1.75B ▼
Q2-2025 $152.831M ▲ $3.494B ▲ $1.594B ▲ $1.9B ▼
Q1-2025 $151.121M ▼ $3.348B ▼ $1.198B ▼ $2.15B ▼
Q4-2024 $660.493M ▲ $3.597B ▲ $1.339B ▲ $2.258B ▲
Q3-2024 $386.344M $3.517B $1.265B $2.252B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $82.818M ▲ $201.893M ▲ $-14.914M ▲ $-193.089M ▼ $-6.864M ▼ $200.988M ▲
Q2-2025 $71.698M ▲ $55.693M ▲ $-17.425M ▲ $-51.893M ▼ $1.71M ▲ $53.874M ▲
Q1-2025 $61.824M ▲ $-465.21M ▼ $-17.803M ▼ $-32.301M ▼ $-509.372M ▼ $-460.367M ▼
Q4-2024 $49.71M ▼ $315.315M ▲ $-13.679M ▼ $-10.51M ▲ $274.149M ▲ $301.636M ▲
Q3-2024 $66.466M $219.374M $-7.029M $-63.19M $159.916M $212.345M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Corporate Finance Segment
Corporate Finance Segment
 $0 ▲$340.00M ▲$380.00M ▲$400.00M ▲
Economic Consulting
Economic Consulting
 $630.00M ▲$180.00M ▼$190.00M ▲$170.00M ▼
Forensic And Litigation Consulting
Forensic And Litigation Consulting
 $0 ▲$190.00M ▲$190.00M ▲$190.00M ▲
Strategic Communications
Strategic Communications
 $250.00M ▲$90.00M ▼$100.00M ▲$90.00M ▼
Technology
Technology
 $300.00M ▲$100.00M ▼$80.00M ▼$90.00M ▲

Five-Year Company Overview

Income Statement

Income Statement FTI Consulting shows a pattern of steady, healthy growth in both revenue and earnings over the past five years. Sales have climbed consistently each year, and profits have risen alongside them rather than stalling out. Profit margins look solid for a consulting business and have generally held up well even as the firm has scaled. There was a small softening in operating profitability recently, but nothing that suggests a structural problem. Earnings per share have moved upward at a good pace, helped by both higher profits and disciplined cost control. The main risks here are the cyclical nature of advisory work, reliance on high billing rates, and the need to keep utilization of senior experts high to maintain margins.

Balance Sheet

Balance Sheet The balance sheet looks conservative and steadily stronger over time. Total assets and shareholder equity have both grown at a measured, healthy pace, suggesting the company is building value rather than stretching itself. Debt has come down from prior peak levels and now appears very manageable, especially relative to the firm’s earnings power. Cash on hand has increased meaningfully in the most recent year, giving the company more flexibility to weather slowdowns, invest in talent, or pursue selective opportunities. As with many consulting firms, much of the real value sits in people, brand, and client relationships, which do not appear as hard assets but are crucial for long-term strength.

Cash Flow

Cash Flow Cash generation is a clear positive. The company has produced solid operating cash flow each year, with noticeable improvement in the latest period. Free cash flow tracks operating cash flow closely because the business requires relatively modest capital spending, which is typical for an asset-light consulting model. This means a high share of accounting profits turns into actual cash that can be used for growth initiatives, buybacks, debt reduction, or other corporate priorities. The main watchpoint is that cash flow can be lumpy year to year, driven by the timing of large client engagements and collections, even when the overall trend is healthy.

Competitive Edge

Competitive Edge FTI Consulting operates in a highly competitive space but occupies a strong, specialized niche. It is well known in restructuring, investigations, disputes, and other high-stakes situations, and has deep relationships with leading law firms and large corporations. These engagements are complex and long-running, which tends to create high switching costs and sticky client relationships. The company’s brand reputation in crisis and litigation-heavy work is a meaningful advantage versus more generalist consulting firms. On the other hand, it competes with very large players such as the Big Four and global consultancies, all vying for the same expert talent. Maintaining a deep bench of top practitioners and avoiding fee pressure from large rivals remain key challenges.

Innovation and R&D

Innovation and R&D Innovation at FTI is less about traditional lab-style R&D and more about embedding advanced technology into expert-led services. The firm has built proprietary platforms in analytics and investigations, and its IQ.AI suite is a notable example of using artificial intelligence to speed up and improve document review, investigations, and data breach response. FTI differentiates itself by pairing these tools with seasoned practitioners, lawyers, and data scientists, which helps ensure the technology is practical, defensible, and aligned with regulatory expectations. The cross-segment digital initiative shows a push to knit together capabilities across the firm. The opportunity is to deepen this tech-enabled advantage faster than rivals; the risk is that AI and data tools are evolving quickly, and competitors are also investing heavily, so FTI must keep up the pace of development and talent hiring to preserve its lead.

Summary

Overall, FTI Consulting presents as a steadily growing, consistently profitable, and cash-generative consulting firm with a specialized focus in high-stakes legal, financial, and regulatory work. Its financial profile reflects an asset-light model: rising earnings, a stronger balance sheet over time, modest capital needs, and growing cash reserves. Strategically, the company is leaning into technology—especially AI and advanced analytics—to reinforce a long-standing reputation for expert-driven advice, which helps build a moat based on trust, relationships, and proprietary workflows rather than pure software. Key uncertainties include economic cyclicality, intense competition for both clients and expert talent, and the need to keep its technology offerings at the frontier. How well FTI balances these factors will largely shape its future performance.

NEWS

November 10, 2025 · 3:00 AM UTC

FTI Consulting Continues Investment in EMEA Tax Capabilities with Addition of Two Senior Hires

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October 23, 2025 · 7:30 AM UTC

FTI Consulting Reports Record Third Quarter 2025 Financial Results

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October 21, 2025 · 5:00 PM UTC

FTI Consulting Enhances Risk & Investigations Capabilities in Australia with Appointment of Warren Dunn as a Senior Managing Director

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October 16, 2025 · 8:30 AM UTC

FTI Consulting Continues Global Investments in Financial Services Sector

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October 15, 2025 · 7:30 AM UTC

FTI Consulting Adds Former FBI Deputy Director Paul Abbate to National Security Team

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