Fti Consulting (FCN)
NYSE:FCN
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FTI Consulting
(NYSE:FCN)
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Rating:68Neutral
Price Target:
$178.00
▼(-3.53% Downside)
Action:ReiteratedDate:03/19/26
The score is driven primarily by solid underlying financial performance and a constructive earnings outlook, tempered by margin compression and uneven cash generation. Technicals are mildly bearish (below key moving averages with negative MACD), while valuation appears mid-range with no stated dividend support.
Positive Factors
Steady fee-based revenue growth
FTI’s diversified professional-services model produced durable top-line growth over multiple years, reflecting recurring fee-based demand across restructuring, forensics, tech and communications. That multi-segment revenue base supports predictable billing and reduces reliance on any single cyclical driver.
Negative Factors
Multi-year margin compression
FTI’s declining EBITDA and net margins reflect structural cost pressure and mix shift toward lower-margin assignments or heavier investment in senior hires and technology. Persistent margin erosion reduces operating leverage, making earnings more sensitive to revenue swings and limiting long-term cash-generation improvements.
Read all positive and negative factors
Positive Factors
Negative Factors
Steady fee-based revenue growth
FTI’s diversified professional-services model produced durable top-line growth over multiple years, reflecting recurring fee-based demand across restructuring, forensics, tech and communications. That multi-segment revenue base supports predictable billing and reduces reliance on any single cyclical driver.
Read all positive factors
FTI Consulting (FCN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.64B
Dividend YieldN/A
Average Volume (3M)367.92K
Price to Earnings (P/E)19.9
Beta (1Y)0.43
Revenue Growth-0.95%
EPS Growth-10.54%
CountryUS
Employees8,105
SectorIndustrials
Sector Strength72
IndustryConsulting Services
Share Statistics
EPS (TTM)1.78
Shares Outstanding30,581,898
10 Day Avg. Volume353,558
30 Day Avg. Volume367,920
Financial Highlights & Ratios
PEG Ratio2.47
Price to Book (P/B)3.10
Price to Sales (P/S)1.42
P/FCF Ratio34.35
Enterprise Value/Market Cap1.07
Enterprise Value/Revenue1.59
Enterprise Value/Gross Profit4.95
Enterprise Value/Ebitda12.77
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)9.28
Revenue Forecast (FY)$3.96B
FTI Consulting Business Overview & Revenue Model
Company Description
FTI Consulting, Inc. provides business advisory services to manage change, mitigate risk, and resolve disputes worldwide. The company operates through five segments: Corporate Finance & Restructuring, Forensic and Litigation Consulting, Economic C...
How the Company Makes Money
FTI Consulting primarily makes money by billing clients for professional services delivered by its consultants and other specialists across its business segments. Revenue is largely generated from fee-based engagements that may be priced on a time...
FTI Consulting Earnings Call Summary
Earnings Call Date:Feb 26, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 23, 2026
Earnings Call Sentiment Positive
The call communicated a broadly positive outcome: management reported record full-year and quarterly results driven by strong performances in CorpFin, FLC, Stratcom and a technology rebound, supported by aggressive share repurchases and constructive 2026 guidance (+6.1% midpoint). However, material weaknesses remain—primarily the Compass Lexecon disruption that severely hit Economic Consulting EBITDA, a significant decline in operating cash flow tied to forgivable loans, higher SG&A expectations, and challenging early-2026 comparisons. Management provided a clear remediation path (senior hires, junior hiring, expected stabilization of Econ by H2 2026) and expressed confidence in long-term franchise strength and AI-driven demand, leading to an overall positive tone despite near-term headwinds.Positive Updates
Record Full-Year Financials
Full-year 2025 revenues of $3.79 billion, up 2.4% year-over-year; record adjusted EBITDA of $463.6 million; record GAAP EPS of $8.24 and adjusted EPS of $8.83; 11th consecutive year of adjusted EPS growth.
Negative Updates
Economic Consulting (Compass Lexecon) Decline and Disruption
Economic Consulting Q4 revenues $176.2 million, down 14.5% YoY; Q4 adjusted segment EBITDA collapsed to $1.0 million (0.6% margin) from $15.8 million (7.7%) prior year. Management cites substantial Compass Lexecon disruption that drove a material adjusted EBITDA headwind and expects Q1 2026 to be the lowest point for the segment.
Read all updates
Q4-2025 Updates
Positive
Negative
Record Full-Year Financials
Full-year 2025 revenues of $3.79 billion, up 2.4% year-over-year; record adjusted EBITDA of $463.6 million; record GAAP EPS of $8.24 and adjusted EPS of $8.83; 11th consecutive year of adjusted EPS growth.
Read all positive updates
Company Guidance
FTI guided 2026 revenues of $3.94 billion to $4.10 billion (midpoint ≈ 6.1% YoY growth) and GAAP (and adjusted) EPS of $8.90 to $9.50, with an expected effective tax rate of 22%–24% (vs. 27% in 2025) and no variance expected between GAAP and adjusted EPS; management flagged approximately $45 million higher full‑year SG&A (with Q1 SG&A roughly $30 million above Q1 2025), expects Economic Consulting adjusted segment EBITDA to trough in Q1 2026 but to stop dragging year‑over‑year EBITDA in H2 2026 as Compass Lexecon is rebuilt, assumes aggregate revenue growth across CorpFin, FLC, Tech and Stratcom will exceed the midpoint, and will continue investing in talent after 85 senior hires in 2025 while adding selective senior and more junior hires in 2026.FTI Consulting Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
66
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 3.79B | 3.70B | 3.49B | 3.03B | 2.78B |
| Gross Profit | 1.22B | 1.18B | 1.14B | 962.93M | 860.72M |
| EBITDA | 441.65M | 405.81M | 419.93M | 353.34M | 363.33M |
| Net Income | 270.87M | 280.09M | 274.89M | 235.51M | 234.97M |
Balance Sheet | |||||
| Total Assets | 3.49B | 3.60B | 3.33B | 3.24B | 3.10B |
| Cash, Cash Equivalents and Short-Term Investments | 265.09M | 660.49M | 328.68M | 491.69M | 494.49M |
| Total Debt | 589.51M | 242.15M | 257.64M | 568.70M | 564.01M |
| Total Liabilities | 1.76B | 1.34B | 1.34B | 1.56B | 1.52B |
| Stockholders Equity | 1.73B | 2.26B | 1.98B | 1.68B | 1.58B |
Cash Flow | |||||
| Free Cash Flow | 156.59M | 397.72M | 174.98M | 135.47M | 286.82M |
| Operating Cash Flow | 152.13M | 395.10M | 224.46M | 188.79M | 355.48M |
| Investing Cash Flow | -58.53M | -10.16M | -73.83M | -60.06M | -79.09M |
| Financing Cash Flow | -510.48M | -15.38M | -354.66M | -106.01M | -61.67M |
FTI Consulting Technical Analysis
Positive
184.51
Price Trends
169.44
Positive
170.27
Positive
167.22
Positive
Market Momentum
4.17
Negative
70.96
Negative
93.89
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FCN, the sentiment is Positive. The current price of 184.51 is above the 20-day moving average (MA) of 170.93, above the 50-day MA of 169.44, and above the 200-day MA of 167.22, indicating a bullish trend. The MACD of 4.17 indicates Negative momentum. The RSI at 70.96 is Negative, neither overbought nor oversold. The STOCH value of 93.89 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FCN.
FTI Consulting Risk Analysis
FTI Consulting disclosed 38 risk factors in its most recent earnings report. FTI Consulting reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
FTI Consulting Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $3.24B | 33.69 | 25.51% | 1.66% | 4.90% | -1.52% | |
71 Outperform | $2.23B | 28.72 | 21.03% | ― | 12.50% | 29.40% | |
70 Outperform | $1.08B | 24.31 | 26.10% | 0.97% | 8.69% | 34.58% | |
69 Neutral | $10.14B | 13.00 | 81.85% | 2.60% | 2.42% | 3.05% | |
68 Neutral | $5.64B | 19.86 | 14.38% | ― | -0.95% | -10.54% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
60 Neutral | $1.23B | 17.06 | 9.11% | 0.65% | -3.81% | -7.05% |
* Industrials Sector Average
FCN
FTI Consulting
184.51
31.64
20.70%
BAH
Booz Allen
84.08
-20.02
-19.23%
CRAI
Cra International
164.07
5.46
3.44%
EXPO
Exponent
65.80
-8.70
-11.68%
HURN
Huron Consulting
131.62
-3.92
-2.89%
ICFI
Icf International
67.57
-10.51
-13.46%
FTI Consulting Corporate Events
Business Operations and StrategyPrivate Placements and Financing
FTI Consulting Adds $300 Million Incremental Term Loan Facility
Positive
Mar 18, 2026
On March 17, 2026, FTI Consulting, Inc. amended its existing credit agreement to add a new $300 million incremental term loan facility with a syndicate of lenders, arranged by Bank of America, N.A. as administrative agent. The term loan, which mat...
Business Operations and StrategyExecutive/Board Changes
FTI Consulting Names Eun Angela Nam as New CFO
Positive
Mar 9, 2026
FTI Consulting announced on March 9, 2026, that its board has elected Eun Angela Nam as Chief Financial Officer, with her employment beginning on May 1, 2026, and responsibility for all finance functions and the information technology function. Sh...
Business Operations and StrategyStock BuybackFinancial Disclosures
FTI Consulting Reports Record 2025 Results, Issues 2026 Outlook
Positive
Feb 27, 2026
FTI Consulting reported record full-year 2025 revenues of $3.79 billion, up 2.4% year on year, and record EPS of $8.24, with Adjusted EPS rising 11% to $8.83, despite net income slipping to $270.9 million on higher direct costs, taxes, special cha...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.