Exponent Reports Q4 Revenue Growth and Higher Dividend

Exponent ( (EXPO) ) has shared an update.

On February 5, 2026, Exponent reported that fourth-quarter 2025 total revenues rose 7.8% year over year to $147.4 million, with revenues before reimbursements up 4.5% to $129.4 million, and net income improving to $24.8 million, or $0.49 per diluted share; EBITDA increased to $34.7 million, or 26.8% of revenues before reimbursements. For fiscal 2025, which ended January 2, 2026, total revenues grew 4.2% to $582.0 million and revenues before reimbursements rose 3.5% to $536.8 million, while net income edged down to $106.0 million, or $2.07 per diluted share, largely reflecting a less favorable tax impact from share-based awards, even as EBITDA ticked up to $148.1 million. The engineering and other scientific segment accounted for 85% of fourth-quarter revenues before reimbursements and drove growth via increased proactive work in utilities, medical devices and consumer electronics, as well as dispute-related projects in construction, energy and transportation, while the environmental and health segment, representing 15% of fourth-quarter revenues before reimbursements, saw a modest quarterly decline due partly to one fewer week in the reporting period. Exponent also highlighted its capital return program, noting that in fiscal 2025 it paid $61.5 million in dividends, repurchased $97.8 million of stock, ended the year with $221.9 million in cash and cash equivalents, and the board approved a higher quarterly dividend of $0.31 per share to be paid on March 20, 2026 to shareholders of record on March 6, 2026, underscoring confidence in the firm’s cash generation. Management reported headcount growth of about 4% in 2025 and improved utilization in the fourth quarter, and guided to high-single-digit growth in revenues before reimbursements and EBITDA margins in the upper-20% range for both the first quarter and full year 2026, signaling expectations of accelerated growth and sustained profitability as demand rises for Exponent’s multidisciplinary expertise in increasingly complex, technology-driven systems.

The most recent analyst rating on (EXPO) stock is a Buy with a $100.00 price target. To see the full list of analyst forecasts on Exponent stock, see the EXPO Stock Forecast page.

Spark’s Take on EXPO Stock

According to Spark, TipRanks’ AI Analyst, EXPO is a Outperform.

Exponent’s overall stock score reflects its strong financial performance, positive technical indicators, and robust earnings call results. The company’s solid financial foundation and strategic initiatives support its growth prospects, despite valuation concerns and sector-specific challenges. The positive momentum and demand in key sectors bolster confidence in its future performance.

To see Spark’s full report on EXPO stock, click here.

More about Exponent

Exponent, Inc., based in Menlo Park, California, is an engineering and scientific consulting firm whose core business spans engineering, environmental, health and related scientific disciplines. The company focuses on proactive and reactive engagements such as risk management for utilities facing infrastructure and weather-related challenges, regulatory support for medical device makers, user research for consumer electronics, and failure analysis and dispute-related services across sectors including energy, construction, transportation and life sciences.

Average Trading Volume: 387,422

Technical Sentiment Signal: Sell

Current Market Cap: $3.5B

See more insights into EXPO stock on TipRanks’ Stock Analysis page.