NYSE : FCN
FTI Consulting, Inc. — Financial statements
Industrials · Consulting Services · United States
Last price 182.84 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 4.88B
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Financial statements
FTI Consulting, Inc. (FCN) reported revenue of 3.98B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 3.98B | 3.79B | 3.70B | 3.49B | 3.03B | 2.78B |
| Cost of Revenue | 2.70B | 2.57B | 2.52B | 2.35B | 2.07B | 1.92B |
| Gross Profit | 1.28B | 1.22B | 1.18B | 1.14B | 962.93M | 860.72M |
| Selling, General & Admin | 869.89M | 799.62M | 822.15M | 751.31M | 638.90M | 538.20M |
| Amortization of Goodwill & Intangibles | 2.32M | 3.48M | 4.18M | 6.16M | 9.64M | 10.82M |
| Operating Expenses | 872.21M | 803.10M | 826.33M | 757.47M | 648.54M | 549.03M |
| Operating Income | 409.35M | 414.37M | 355.59M | 377.56M | 314.39M | 311.69M |
| Interest Expense | -38.94M | -21.40M | -6.95M | -14.33M | -10.05M | -20.29M |
| Interest & Investment Income | 5.98M | 7.06M | 8.47M | 5.21M | 4.62M | 3.49M |
| Currency Exchange Gain (Loss) | -4.26M | -4.26M | 549.00K | -9.34M | 57.00K | 2.43M |
| Other Non Operating Income (Expenses) | 529.00K | 529.00K | 1.34M | -736.00K | -758.00K | 274.00K |
| EBT Excluding Unusual Items | 372.65M | 396.31M | 359.00M | 358.36M | 308.26M | 297.59M |
| Merger & Restructuring Charges | -46.01M | -25.30M | -8.23M | -8.34M | ||
| Other Unusual Items | -2.17M | 359.00K | ||||
| Pretax Income | 315.52M | 371.01M | 350.77M | 358.36M | 297.75M | 297.95M |
| Income Tax Expense | 82.10M | 100.14M | 70.68M | 83.47M | 62.23M | 62.98M |
| Net Income | 233.42M | 270.87M | 280.09M | 274.89M | 235.51M | 234.97M |
| Net Income to Common | 233.42M | 270.87M | 280.09M | 274.89M | 235.51M | 234.97M |
| Shares Outstanding (Basic) | 28.94M | 32.53M | 35.21M | 33.92M | 33.69M | 33.49M |
| Shares Outstanding (Diluted) | 29.24M | 32.88M | 35.84M | 35.65M | 35.78M | 35.34M |
| EPS (Basic) | 8.07 | 8.33 | 7.96 | 8.10 | 6.99 | 7.02 |
| EPS (Diluted) | 7.99 | 8.24 | 7.81 | 7.71 | 6.58 | 6.65 |
| Free Cash Flow | 353.71M | 93.60M | 359.69M | 174.98M | 135.47M | 286.82M |
| Free Cash Flow Per Share | 12.10 | 2.85 | 10.04 | 4.91 | 3.79 | 8.12 |
| Gross Margin | 32.20% | 32.13% | 31.96% | 32.53% | 31.79% | 31.00% |
| Operating Margin | 10.29% | 10.94% | 9.61% | 10.82% | 10.38% | 11.23% |
| Profit Margin | 5.87% | 7.15% | 7.57% | 7.88% | 7.78% | 8.46% |
| Free Cash Flow Margin | 8.89% | 2.47% | 9.72% | 5.01% | 4.47% | 10.33% |
| EBITDA | 461.20M | 463.62M | 403.69M | 424.80M | 359.93M | 356.78M |
| EBITDA Margin | 11.59% | 12.24% | 10.91% | 12.17% | 11.88% | 12.85% |
| D&A For EBITDA | 51.85M | 49.24M | 48.09M | 47.24M | 45.54M | 45.09M |
| EBIT | 409.35M | 414.37M | 355.59M | 377.56M | 314.39M | 311.69M |
| EBIT Margin | 10.29% | 10.94% | 9.61% | 10.82% | 10.38% | 11.23% |
| Effective Tax Rate | 26.02% | 26.99% | 20.15% | 23.29% | 20.90% | 21.14% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 88.10M | 265.09M | 660.49M | 303.22M | 491.69M | 494.49M |
| Short-Term Investments | 16.70M | 25.46M | ||||
| Cash & Short-Term Investments | 104.80M | 265.09M | 660.49M | 328.68M | 491.69M | 494.49M |
| Accounts Receivable | 1.20B | 1.04B | 1.02B | 1.10B | 896.15M | 754.12M |
| Other Receivables | 14.20M | 6.60M | 15.06M | 10.96M | 7.25M | |
| Receivables | 1.29B | 1.14B | 1.07B | 1.15B | 934.41M | 791.63M |
| Prepaid Expenses | 144.31M | 64.21M | 57.04M | 51.14M | 46.90M | 52.75M |
| Other Current Assets | 48.59M | 30.31M | 27.43M | 37.61M | 31.16M | |
| Total Current Assets | 1.54B | 1.52B | 1.82B | 1.56B | 1.51B | 1.37B |
| Property, Plant & Equipment | 340.57M | 370.82M | 348.61M | 368.57M | 357.23M | 358.16M |
| Goodwill | 1.24B | 1.24B | 1.23B | 1.23B | 1.23B | 1.23B |
| Other Intangible Assets | 11.84M | 13.55M | 16.77M | 18.29M | 25.51M | 31.99M |
| Long-Term Deferred Charges | 3.40M | 4.30M | 900.00K | |||
| Other Long-Term Assets | 96.64M | 95.08M | 76.26M | 70.17M | 60.19M | 53.50M |
| Total Assets | 3.46B | 3.49B | 3.60B | 3.33B | 3.24B | 3.10B |
| Accounts Payable | 187.78M | 14.98M | 26.02M | 21.72M | 20.27M | 16.19M |
| Accrued Expenses | 607.84M | 810.26M | 722.40M | 675.79M | 609.22M | 571.33M |
| Current Portion of Leases | 39.34M | 37.21M | 34.11M | 33.86M | 31.92M | 30.83M |
| Current Income Taxes Payable | 15.18M | 43.87M | 58.73M | 20.36M | 18.91M | |
| Current Unearned Revenue | 64.56M | 56.61M | 67.62M | 67.94M | 53.65M | 45.53M |
| Other Current Liabilities | 40.95M | 37.73M | 34.73M | 34.08M | 35.33M | |
| Total Current Liabilities | 899.51M | 975.19M | 931.76M | 892.77M | 769.49M | 718.12M |
| Long-Term Debt | 851.38M | 365.00M | 315.17M | 297.16M | ||
| Long-Term Leases | 197.14M | 224.51M | 208.04M | 223.77M | 221.60M | 236.03M |
| Long-Term Deferred Tax Liabilities | 98.41M | 99.61M | 111.83M | 140.98M | 162.37M | 170.61M |
| Other Long-Term Liabilities | 89.99M | 92.49M | 86.92M | 86.94M | 91.05M | 95.68M |
| Total Liabilities | 2.14B | 1.76B | 1.34B | 1.34B | 1.56B | 1.52B |
| Common Stock | 272.00K | 309.00K | 359.00K | 355.00K | 340.00K | 343.00K |
| Additional Paid-In Capital | 354.00K | 39.65M | 16.76M | 13.66M | ||
| Retained Earnings | 1.46B | 1.86B | 2.39B | 2.11B | 1.86B | 1.70B |
| Comprehensive Income & Other | -140.23M | -129.60M | -176.57M | -150.46M | -176.72M | -128.84M |
| Shareholders' Equity | 1.32B | 1.73B | 2.26B | 1.98B | 1.68B | 1.58B |
| Total Liabilities & Equity | 3.46B | 3.49B | 3.60B | 3.33B | 3.24B | 3.10B |
| Total Debt | 1.09B | 626.72M | 242.15M | 257.64M | 568.70M | 564.01M |
| Net Cash (Debt) | -983.07M | -361.63M | 418.35M | 71.05M | -77.01M | -69.53M |
| Net Cash Per Share | -33.62 | -11.00 | 11.67 | 1.99 | -2.15 | -1.97 |
| Filing Date Shares Outstanding | 26.68M | 30.01M | 35.31M | 34.91M | 33.24M | 33.57M |
| Total Common Shares Outstanding | 26.67M | 30.29M | 35.30M | 34.90M | 33.34M | 33.55M |
| Working Capital | 644.55M | 542.44M | 887.75M | 662.68M | 741.11M | 651.91M |
| Book Value Per Share | 49.61 | 57.24 | 63.97 | 56.77 | 50.44 | 47.19 |
| Tangible Book Value | 71.43M | 477.41M | 1.01B | 728.57M | 428.61M | 318.54M |
| Tangible Book Value Per Share | 2.68 | 15.76 | 28.75 | 20.88 | 12.86 | 9.49 |
| Machinery | 166.44M | 182.13M | 181.49M | 147.32M | 140.12M | |
| Construction In Progress | 13.92M | 13.22M | 5.73M | 43.93M | 21.05M | |
| Leasehold Improvements | 168.36M | 147.51M | 149.13M | 129.04M | 128.95M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 233.42M | 270.87M | 280.09M | 274.89M | 235.51M | 234.97M |
| Depreciation & Amortization | 51.85M | 49.24M | 48.09M | 47.24M | 45.54M | 45.09M |
| Other Amortization | 2.22M | 11.70M | ||||
| Stock-Based Compensation | 42.20M | 39.32M | 38.44M | 29.53M | 25.41M | 23.05M |
| Provision & Write-off of Bad Debts | 41.79M | 42.84M | 50.31M | 35.15M | 19.68M | 16.15M |
| Other Operating Activities | 101.89M | 98.53M | 35.32M | 8.07M | 22.52M | 4.63M |
| Change in Accounts Receivable | -102.70M | -34.26M | 18.34M | -229.30M | -182.67M | -61.27M |
| Change in Accounts Payable | 27.84M | 6.63M | 12.88M | 8.69M | 8.43M | -2.10M |
| Change in Unearned Revenue | 4.24M | -12.09M | 271.00K | 13.76M | 9.27M | 1.70M |
| Change in Income Taxes | -16.20M | -67.96M | -29.44M | 29.34M | -4.32M | 10.52M |
| Change in Other Net Operating Assets | -17.27M | -240.99M | -59.20M | 7.09M | 7.18M | 71.05M |
| Operating Cash Flow | 392.44M | 152.13M | 395.10M | 224.46M | 188.79M | 355.48M |
| Capital Expenditures | -38.73M | -58.53M | -35.41M | -49.48M | -53.32M | -68.67M |
| Cash Acquisitions | -6.74M | -10.43M | ||||
| Investment in Securities | -42.10M | 25.25M | -24.36M | |||
| Investing Cash Flow | -80.83M | -58.53M | -10.16M | -73.83M | -60.06M | -79.09M |
| Short-Term Debt Issued | 165.00M | 402.50M | ||||
| Long-Term Debt Issued | 1.28B | 600.00M | 835.00M | |||
| Total Debt Issued | 1.86B | 1.28B | 600.00M | 835.00M | 165.00M | 402.50M |
| Short-Term Debt Repaid | -165.00M | -402.50M | ||||
| Long-Term Debt Repaid | -915.00M | -600.00M | -1.15B | |||
| Total Debt Repaid | -1.51B | -915.00M | -600.00M | -1.15B | -165.00M | -402.50M |
| Net Debt Issued (Repaid) | 342.00M | 365.00M | -315.76M | |||
| Issuance of Common Stock | 1.39M | 1.39M | 10.89M | 1.30M | 2.62M | |
| Repurchase of Common Stock | -704.63M | -877.23M | -29.24M | -37.36M | -103.38M | -55.38M |
| Other Financing Activities | -4.16M | 358.00K | 2.97M | -2.84M | -5.26M | -6.29M |
| Financing Cash Flow | -365.40M | -510.48M | -15.38M | -354.66M | -106.01M | -61.67M |
| Foreign Exchange Rate Adjustments | -4.07M | 21.47M | -12.28M | 15.57M | -25.52M | -15.18M |
| Net Cash Flow | -57.87M | -395.40M | 357.27M | -188.47M | -2.80M | 199.53M |
| Free Cash Flow | 353.71M | 93.60M | 359.69M | 174.98M | 135.47M | 286.82M |
| Free Cash Flow Margin | 8.89% | 2.47% | 9.72% | 5.01% | 4.47% | 10.33% |
| Free Cash Flow Per Share | 12.10 | 2.85 | 10.04 | 4.91 | 3.79 | 8.12 |
| Levered Free Cash Flow | 287.72M | 224.84M | 379.26M | 174.53M | 119.30M | 216.87M |
| Unlevered Free Cash Flow | 312.06M | 238.21M | 383.60M | 183.49M | 123.35M | 217.86M |
| Cash Interest Paid | 38.76M | 19.67M | 5.92M | 14.39M | 7.84M | 9.10M |
| Cash Income Tax Paid | 63.97M | 144.36M | 116.73M | 79.59M | 77.01M | 47.50M |
| Change in Working Capital | -104.10M | -348.67M | -57.15M | -170.43M | -162.11M | 19.89M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 4.92B | 5.17B | 6.75B | 6.94B | 5.34B | 5.10B |
| Enterprise Value | 5.91B | 5.79B | 6.62B | 7.27B | 5.58B | 5.34B |
| Last Close Price | 182.84 | 170.83 | 191.13 | 199.15 | 158.80 | 153.42 |
| PE Ratio | 23.08 | 19.09 | 24.11 | 25.23 | 22.68 | 21.72 |
| Forward PE | 17.30 | 19.82 | 23.14 | 25.81 | 23.17 | 22.13 |
| PS Ratio | 1.23 | 1.36 | 1.82 | 1.99 | 1.76 | 1.84 |
| PB Ratio | 3.69 | 2.98 | 2.99 | 3.50 | 3.18 | 3.22 |
| P/TBV Ratio | 68.30 | 10.83 | 6.65 | 9.52 | 12.46 | 16.02 |
| P/FCF Ratio | 13.79 | 55.24 | 18.77 | 39.64 | 39.43 | 17.79 |
| P/OCF Ratio | 12.43 | 33.98 | 17.09 | 30.90 | 28.30 | 14.35 |
| PEG Ratio | 1.37 | 1.37 | 1.37 | 1.37 | 1.23 | |
| EV/Sales Ratio | 1.47 | 1.53 | 1.79 | 2.08 | 1.84 | 1.93 |
| EV/EBITDA Ratio | 12.71 | 12.50 | 16.39 | 17.11 | 15.49 | 14.98 |
| EV/EBIT Ratio | 14.32 | 13.98 | 18.61 | 19.26 | 17.74 | 17.15 |
| EV/FCF Ratio | 16.57 | 61.90 | 18.40 | 41.55 | 41.16 | 18.63 |
| Debt / Equity Ratio | 0.82 | 0.36 | 0.11 | 0.13 | 0.34 | 0.36 |
| Debt / EBITDA Ratio | 2.05 | 1.18 | 0.51 | 0.52 | 1.35 | 1.33 |
| Debt / FCF Ratio | 3.08 | 6.70 | 0.67 | 1.47 | 4.20 | 1.97 |
| Net Debt / Equity Ratio | 0.74 | 0.21 | -0.18 | -0.04 | 0.05 | 0.04 |
| Net Debt / EBITDA Ratio | 2.13 | 0.78 | -1.04 | -0.17 | 0.21 | 0.20 |
| Net Debt / FCF Ratio | 2.78 | 3.86 | -1.16 | -0.41 | 0.57 | 0.24 |
| Asset Turnover | 1.15 | 1.07 | 1.07 | 1.06 | 0.95 | 0.94 |
| Quick Ratio | 1.45 | 1.35 | 1.81 | 1.62 | 1.82 | 1.75 |
| Current Ratio | 1.72 | 1.56 | 1.95 | 1.74 | 1.96 | 1.91 |
| Return on Equity (ROE) | 15.19% | 13.57% | 13.21% | 15.01% | 14.43% | 15.75% |
| Return on Assets (ROA) | 7.36% | 7.31% | 6.42% | 7.19% | 6.20% | 6.63% |
| Return on Invested Capital (ROIC) | 12.83% | 15.38% | 15.14% | 15.79% | 14.58% | 15.13% |
| Return on Capital Employed (ROCE) | 16.00% | 16.50% | 13.30% | 15.50% | 12.70% | 13.10% |
| Earnings Yield | 4.33% | 5.24% | 4.15% | 3.96% | 4.41% | 4.61% |
| FCF Yield | 7.25% | 1.81% | 5.33% | 2.52% | 2.54% | 5.62% |
| Buyback Yield / Dilution | 14.45% | 8.27% | -0.56% | 0.38% | -1.26% | 4.88% |