FTI Consulting, Inc. (FCN) 10-Year Financial Performance & Capital Metrics

FCN • • Industrial / General

IndustrialsConsulting ServicesEconomic & Financial ConsultingFinancial Advisory & Restructuring

AboutFTI 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 Consulting, Technology, and Strategic Communications. Its Corporate Finance & Restructuring segment provides business transformation, transactions, and turnaround and restructuring services. The company's Forensic and Litigation Consulting segment offers. construction and environmental solution, data and analytics, dispute, health solution, and risk and investigation services. Its Economic Consulting segment provides. antitrust and competition economic, financial economic, and international arbitration services. The company's Technology segment offers corporate legal operation; e-discovery and expertise; and information governance, privacy, and security services. Its Strategic Communications segment provides corporate reputation, financial communication, and public affairs services. The company serves aerospace and defense, agriculture, airlines and aviation, automotive and industrial, construction, energy, power and products, environmental solutions, financial services, healthcare and life sciences, hospitality, gaming and leisure, insurance, mining, private equity, public sector, real estate, retail and consumer products, telecom, media and technology, and transportation and logistics industries. The company was founded in 1982 and is headquartered in Washington, District of Columbia.Show more

Revenue $3.7B +6.0%
EBITDA $395M -6.9%
Net Income $280M +1.9%
EPS (Diluted) 7.81 +1.3%
Gross Margin 31.96% -1.8%
EBITDA Margin 10.69% -12.2%
Operating Margin 9.39% -13.2%
Net Margin 7.57% -3.9%
ROE 13.21% -12.0%
ROIC 13.8% -10.0%
Debt/Equity 0.11 -17.5%
Interest Coverage 49.97 +89.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Efficient asset utilization: 1.0x turnover

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y7.73%

5Y9.47%

3Y10.03%

TTM-0.95%

Profit (Net Income) CAGR

10Y16.89%

5Y5.26%

3Y6.03%

TTM-14.73%

EPS CAGR

10Y18.42%

5Y6.54%

3Y5.51%

TTM-9.77%

ROCE

10Y Avg11.76%

5Y Avg13.73%

3Y Avg13.85%

Latest13.63%

Peer Comparison

Financial Advisory & Restructuring

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
FCNFTI Consulting, Inc.	5.48B	177.57	22.74	6%	7.2%	15.21%	7.25%	0.11

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.78B	1.81B	1.81B	2.03B	2.35B	2.46B	2.78B	3.03B	3.49B	3.7B
Revenue Growth %	0.01%	0.02%	-0%	0.12%	0.16%	0.05%	0.13%	0.09%	0.15%	0.06%
Cost of Goods Sold+	1.17B	1.21B	1.22B	1.33B	1.53B	1.67B	1.92B	2.07B	2.35B	2.52B
COGS % of Revenue	0.66%	0.67%	0.67%	0.65%	0.65%	0.68%	0.69%	0.68%	0.67%	0.68%
Gross Profit+	607.71M	599.62M	592.17M	699.8M	817.82M	788.56M	860.72M	962.93M	1.14B	1.18B
Gross Margin %	0.34%	0.33%	0.33%	0.35%	0.35%	0.32%	0.31%	0.32%	0.33%	0.32%
Gross Profit Growth %	-0.01%	-0.01%	-0.01%	0.18%	0.17%	-0.04%	0.09%	0.12%	0.18%	0.04%
Operating Expenses+	443.19M	457.47M	483.46M	473.8M	512.23M	505.9M	548.67M	659.05M	757.47M	834.56M
OpEx % of Revenue	0.25%	0.25%	0.27%	0.23%	0.22%	0.21%	0.2%	0.22%	0.22%	0.23%
Selling, General & Admin	432.67M	436.72M	432.01M	465.64M	504.07M	488.41M	537.84M	641.07M	751.31M	822.15M
SG&A % of Revenue	0.24%	0.24%	0.24%	0.23%	0.21%	0.2%	0.19%	0.21%	0.22%	0.22%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	10.53M	20.75M	51.45M	8.16M	8.15M	17.49M	10.82M	17.98M	6.16M	12.41M
Operating Income+	164.51M	142.16M	108.71M	226M	305.6M	282.66M	312.05M	303.88M	377.56M	347.36M
Operating Margin %	0.09%	0.08%	0.06%	0.11%	0.13%	0.11%	0.11%	0.1%	0.11%	0.09%
Operating Income Growth %	0.12%	-0.14%	-0.24%	1.08%	0.35%	-0.08%	0.1%	-0.03%	0.24%	-0.08%
EBITDA+	207.63M	191.16M	150.45M	265.7M	343.9M	325.71M	357.14M	349.42M	424.8M	395.45M
EBITDA Margin %	0.12%	0.11%	0.08%	0.13%	0.15%	0.13%	0.13%	0.12%	0.12%	0.11%
EBITDA Growth %	0.05%	-0.08%	-0.21%	0.77%	0.29%	-0.05%	0.1%	-0.02%	0.22%	-0.07%
D&A (Non-Cash Add-back)	43.12M	49.01M	41.74M	39.7M	38.3M	43.05M	45.09M	45.54M	47.24M	48.09M
EBIT	148.15M	152.62M	112.46M	234.94M	307.66M	282.25M	318.24M	307.8M	372.69M	357.72M
Net Interest Income+	-37.77M	-20.4M	-21.39M	-21.7M	-14.45M	-16.07M	-17.87M	-5.43M	-9.12M	1.52M
Interest Income	5M	4.42M	3.97M	5.45M	4.76M	3.73M	2.43M	4.62M	5.21M	8.47M
Interest Expense	42.77M	24.82M	25.36M	27.15M	19.21M	19.8M	20.29M	10.05M	14.33M	6.95M
Other Income/Expense	-59.13M	-14.35M	-21.61M	-18.21M	-17.14M	-20.22M	-14.1M	-6.13M	-19.2M	3.41M
Pretax Income+	105.39M	127.8M	87.11M	207.79M	288.45M	262.45M	297.95M	297.75M	358.36M	350.77M
Pretax Margin %	0.06%	0.07%	0.05%	0.1%	0.12%	0.11%	0.11%	0.1%	0.1%	0.09%
Income Tax+	39.33M	42.28M	-20.86M	57.18M	71.72M	51.76M	62.98M	62.23M	83.47M	70.68M
Effective Tax Rate %	0.63%	0.67%	1.24%	0.72%	0.75%	0.8%	0.79%	0.79%	0.77%	0.8%
Net Income+	66.05M	85.52M	107.96M	150.61M	216.73M	210.68M	234.97M	235.51M	274.89M	280.09M
Net Margin %	0.04%	0.05%	0.06%	0.07%	0.09%	0.09%	0.08%	0.08%	0.08%	0.08%
Net Income Growth %	0.12%	0.29%	0.26%	0.4%	0.44%	-0.03%	0.12%	0%	0.17%	0.02%
Net Income (Continuing)	66.05M	85.52M	107.96M	150.61M	216.73M	210.68M	234.97M	235.51M	274.89M	280.09M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	1.58	2.05	2.75	3.93	5.69	5.67	6.65	6.58	7.71	7.81
EPS Growth %	0.1%	0.3%	0.34%	0.43%	0.45%	-0%	0.17%	-0.01%	0.17%	0.01%
EPS (Basic)	1.62	2.09	2.79	4.06	5.89	5.92	7.02	6.99	8.10	7.96
Diluted Shares Outstanding	41.73M	41.71M	39.19M	38.32M	38.11M	37.15M	35.34M	35.78M	35.65M	35.84M
Basic Shares Outstanding	40.85M	40.94M	38.7M	37.1M	36.77M	35.6M	33.49M	33.69M	33.92M	35.21M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	741.63M	783.17M	794.18M	965.35M	1.18B	1.13B	1.37B	1.51B	1.56B	1.82B
Cash & Short-Term Investments	149.76M	216.16M	189.96M	312.07M	369.37M	294.95M	494.49M	491.69M	328.68M	660.49M
Cash Only	149.76M	216.16M	189.96M	312.07M	369.37M	294.95M	494.49M	491.69M	303.22M	660.49M
Short-Term Investments	0	0	0	0	0	0	0	0	25.46M	0
Accounts Receivable	551.05M	519.47M	555.76M	903.04M	736.64M	756.91M	791.63M	934.41M	1.15B	1.07B
Days Sales Outstanding	113.05	104.73	112.21	162.54	114.28	112.25	104.08	112.6	120.11	105.76
Inventory	45.93M	47.55M	48.45M	54.71M	47.9M	0	0	0	0	0
Days Inventory Outstanding	14.31	14.33	14.55	15.04	11.39	-	-	-	-	-
Other Current Assets	10.04M	59.46M	45.67M	14.74M	-14.99M	29.62M	31.16M	37.61M	27.43M	87.36M
Total Non-Current Assets+	1.49B	1.44B	1.46B	1.41B	1.6B	1.65B	1.73B	1.73B	1.77B	1.78B
Property, Plant & Equipment	74.76M	61.86M	75.08M	84.58M	253.45M	258.29M	358.16M	357.23M	368.57M	348.61M
Fixed Asset Turnover	23.80x	29.27x	24.08x	23.98x	9.28x	9.53x	7.75x	8.48x	9.47x	10.61x
Goodwill	1.2B	1.18B	1.2B	1.17B	1.2B	1.23B	1.23B	1.23B	1.23B	1.23B
Intangible Assets	63.94M	52.12M	44.15M	34.63M	38.43M	41.55M	31.99M	25.51M	18.29M	16.77M
Long-Term Investments	-32.91M	-69.28M	-26.37M	-70.62M	-151.35M	61.12M	53.54M	55.98M	0	109.12M
Other Non-Current Assets	43.52M	43.7M	40.93M	37.77M	109.83M	51.82M	54.4M	-97.88M	149M	76.26M
Total Assets+	2.23B	2.23B	2.26B	2.38B	2.78B	2.78B	3.1B	3.24B	3.33B	3.6B
Asset Turnover	0.80x	0.81x	0.80x	0.85x	0.85x	0.89x	0.90x	0.93x	1.05x	1.03x
Asset Growth %	-0.08%	-0%	0.01%	0.05%	0.17%	-0%	0.12%	0.05%	0.03%	0.08%
Total Current Liabilities+	347.08M	378.45M	410.33M	482.57M	612.54M	670.17M	718.12M	769.49M	892.77M	931.76M
Accounts Payable	9.94M	15.78M	14.08M	17.73M	18.35M	13.12M	16.19M	20.27M	21.72M	26.02M
Days Payables Outstanding	3.1	4.76	4.23	4.87	4.36	2.86	3.08	3.58	3.37	3.77
Short-Term Debt	0	0	0	0	0	42.72M	30.83M	0	0	0
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0
Other Current Liabilities	60.49M	62.31M	20.69M	18.93M	68.97M	99.51M	99.1M	101.4M	109.44M	827.75M
Current Ratio	2.14x	2.07x	1.94x	2.00x	1.92x	1.69x	1.91x	1.96x	1.74x	1.95x
Quick Ratio	2.00x	1.94x	1.82x	1.89x	1.85x	1.69x	1.91x	1.96x	1.74x	1.95x
Cash Conversion Cycle	124.26	114.31	122.54	172.7	121.31	-	-	-	-	-
Total Non-Current Liabilities+	734.34M	639.55M	654.94M	547.73M	681.46M	707.01M	799.47M	790.2M	451.69M	406.78M
Long-Term Debt	494.77M	365.53M	396.28M	265.57M	275.61M	286.13M	297.16M	315.17M	0	0
Capital Lease Obligations	0	0	0	0	176.38M	161.68M	236.03M	221.6M	223.77M	208.04M
Deferred Tax Liabilities	139.79M	173.8M	124.47M	155.09M	151.35M	158.34M	170.61M	162.37M	140.98M	111.83M
Other Non-Current Liabilities	99.78M	100.23M	134.19M	127.07M	78.12M	100.86M	95.68M	91.05M	86.94M	86.92M
Total Liabilities	1.08B	1.02B	1.07B	1.03B	1.29B	1.38B	1.52B	1.56B	1.34B	1.34B
Total Debt+	494.77M	365.53M	396.28M	265.57M	487.71M	490.52M	564.01M	568.7M	257.64M	242.15M
Net Debt	345.01M	149.37M	206.32M	-46.5M	118.34M	195.57M	69.53M	77.01M	-45.58M	-418.35M
Debt / Equity	0.43x	0.30x	0.33x	0.20x	0.33x	0.35x	0.36x	0.34x	0.13x	0.11x
Debt / EBITDA	2.38x	1.91x	2.63x	1.00x	1.42x	1.51x	1.58x	1.63x	0.61x	0.61x
Net Debt / EBITDA	1.66x	0.78x	1.37x	-0.18x	0.34x	0.60x	0.19x	0.22x	-0.11x	-1.06x
Interest Coverage	3.85x	5.73x	4.29x	8.32x	15.91x	14.27x	15.38x	30.25x	26.35x	49.97x
Total Equity+	1.15B	1.21B	1.19B	1.35B	1.49B	1.4B	1.58B	1.68B	1.98B	2.26B
Equity Growth %	0.04%	0.05%	-0.01%	0.13%	0.1%	-0.06%	0.13%	0.06%	0.18%	0.14%
Book Value per Share	27.50	28.95	30.41	35.20	39.07	37.69	44.81	47.00	55.59	63.00
Total Shareholders' Equity	1.15B	1.21B	1.19B	1.35B	1.49B	1.4B	1.58B	1.68B	1.98B	2.26B
Common Stock	412K	420K	377K	381K	374K	345K	343K	340K	355K	359K
Retained Earnings	855.48M	941M	1.05B	1.2B	1.41B	1.51B	1.7B	1.86B	2.11B	2.39B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-109M	-150.88M	-120.22M	-147.82M	-140.85M	-106.44M	-128.84M	-176.72M	-150.46M	-176.57M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	139.92M	233.49M	147.63M	230.67M	217.89M	327.07M	355.48M	188.79M	224.46M	395.1M
Operating CF Margin %	0.08%	0.13%	0.08%	0.11%	0.09%	0.13%	0.13%	0.06%	0.06%	0.11%
Operating CF Growth %	0.03%	0.67%	-0.37%	0.56%	-0.06%	0.5%	0.09%	-0.47%	0.19%	0.76%
Net Income	66.05M	85.52M	107.96M	150.61M	216.73M	210.68M	234.97M	235.51M	274.89M	280.09M
Depreciation & Amortization	43.12M	49.01M	41.74M	39.7M	38.3M	43.05M	45.09M	45.54M	47.24M	48.09M
Stock-Based Compensation	17.95M	16.92M	16.03M	15.58M	17.98M	22.9M	23.05M	25.41M	29.53M	38.44M
Deferred Taxes	35.15M	8.91M	15.39M	13.91M	-3.71M	-9.13M	4.96M	-10.46M	-25.45M	-16.61M
Other Non-Cash Items	561K	2.94M	4.89M	6.7M	33.89M	36.54M	27.53M	24.08M	68.68M	102.24M
Working Capital Changes	-22.92M	70.19M	-38.38M	4.17M	-85.3M	23.02M	19.89M	-131.3M	-170.43M	-57.15M
Change in Receivables	-35.65M	3.47M	-50.83M	-72.03M	-131.45M	-18.77M	-48.63M	-182.67M	-280M	-81.55M
Change in Inventory	-451K	305K	15.56M	6.73M	0	0	0	0	0	0
Change in Payables	-4.72M	3.27M	4.42M	8.91M	-8.91M	13.9M	-2.1M	8.43M	8.69M	12.88M
Cash from Investing+	-31.74M	-30.13M	-40.64M	18.74M	-60.61M	-60.12M	-79.09M	-60.06M	-73.83M	-10.16M
Capital Expenditures	-31.4M	-28.93M	-32M	-32.27M	-41.81M	-34.85M	-68.67M	-53.32M	-49.48M	-35.41M
CapEx % of Revenue	0.02%	0.02%	0.02%	0.02%	0.02%	0.01%	0.02%	0.02%	0.01%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	237K	54K	295K	731K	0	0	0	0	0	0
Cash from Financing+	-235.96M	-125.31M	-140.93M	-117.52M	-103.31M	-360.05M	-61.67M	-106.01M	-354.66M	-15.38M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	16.24M	26.18M	-2.84M	21.97M	2.49M	-6.46M	-15.54M	-1.26M	-17.92M	-5.17M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	108.52M	204.55M	115.62M	198.4M	176.07M	292.22M	286.82M	135.47M	174.98M	397.72M
FCF Margin %	0.06%	0.11%	0.06%	0.1%	0.07%	0.12%	0.1%	0.04%	0.05%	0.11%
FCF Growth %	0.13%	0.88%	-0.43%	0.72%	-0.11%	0.66%	-0.02%	-0.53%	0.29%	1.27%
FCF per Share	2.60	4.90	2.95	5.18	4.62	7.87	8.12	3.79	4.91	11.10
FCF Conversion (FCF/Net Income)	2.12x	2.73x	1.37x	1.53x	1.01x	1.55x	1.51x	0.80x	0.82x	1.41x
Interest Paid	46.97M	23.15M	23.29M	21.69M	7.61M	7.75M	9.1M	7.84M	14.39M	5.92M
Taxes Paid	20.65M	20.27M	4.93M	45.57M	50.94M	83.44M	47.5M	77.01M	79.59M	116.73M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	5.87%	7.26%	9%	11.86%	15.27%	14.58%	15.75%	14.43%	15.01%	13.21%
Return on Invested Capital (ROIC)	8.16%	7.48%	5.92%	12.55%	15.75%	13.24%	14.41%	13.36%	15.33%	13.8%
Gross Margin	34.16%	33.12%	32.76%	34.51%	34.76%	32.04%	31%	31.79%	32.53%	31.96%
Net Margin	3.71%	4.72%	5.97%	7.43%	9.21%	8.56%	8.46%	7.78%	7.88%	7.57%
Debt / Equity	0.43x	0.30x	0.33x	0.20x	0.33x	0.35x	0.36x	0.34x	0.13x	0.11x
Interest Coverage	3.85x	5.73x	4.29x	8.32x	15.91x	14.27x	15.38x	30.25x	26.35x	49.97x
FCF Conversion	2.12x	2.73x	1.37x	1.53x	1.01x	1.55x	1.51x	0.80x	0.82x	1.41x
Revenue Growth	1.31%	1.76%	-0.15%	12.18%	16.02%	4.61%	12.8%	9.1%	15.2%	6%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Corporate Finance	-	-	-	-	-	-	938.97M	-	-	1.39B
Corporate Finance Growth	-	-	-	-	-	-	-	-	-	-
Economic Consulting	447.91M	500.49M	496.03M	533.98M	592.54M	599.09M	697.4M	695.21M	771.37M	863.56M
Economic Consulting Growth	-	11.74%	-0.89%	7.65%	10.97%	1.10%	16.41%	-0.32%	10.96%	11.95%
Forensic And Litigation Consulting	482.27M	457.73M	462.32M	520.33M	577.78M	500.27M	584.84M	638.48M	654.11M	690.21M
Forensic And Litigation Consulting Growth	-	-5.09%	1.00%	12.55%	11.04%	-13.41%	16.90%	9.17%	2.45%	5.52%
Technology	218.6M	177.72M	174.85M	185.75M	215.58M	223.02M	287.37M	319.98M	387.86M	417.64M
Technology Growth	-	-18.70%	-1.61%	6.24%	16.06%	3.45%	28.85%	11.35%	21.21%	7.68%
Strategic Communications	189.97M	191.18M	192.49M	223.33M	243.09M	228.71M	267.65M	286.67M	329.23M	336.04M
Strategic Communications Growth	-	0.64%	0.68%	16.02%	8.85%	-5.91%	17.02%	7.11%	14.85%	2.07%
Corporate Finance Restructuring	440.4M	483.27M	482.04M	564.48M	723.72M	910.18M	-	1.09B	1.35B	-
Corporate Finance Restructuring Growth	-	9.73%	-0.25%	17.10%	28.21%	25.76%	-	-	23.71%	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	-	1.3B	1.26B	1.37B	1.56B	1.54B	1.71B	1.92B	2.21B	2.37B
UNITED STATES Growth	-	-	-2.76%	8.67%	13.34%	-0.67%	10.61%	12.50%	14.93%	7.21%
All Other Countries	-	-	293.21M	353.19M	408.25M	495.37M	606.2M	687.37M	808.83M	844.83M
All Other Countries Growth	-	-	-	20.46%	15.59%	21.34%	22.37%	13.39%	17.67%	4.45%
All Foreign Countries	265.42M	265.67M	-	-	-	-	-	-	-	-
All Foreign Countries Growth	-	0.09%	-	-	-	-	-	-	-	-
U S	1.28B	-	-	-	-	-	-	-	-	-
U S Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

FTI Consulting, Inc. (FCN) has a price-to-earnings (P/E) ratio of 22.7x. This is roughly in line with market averages.

Growth & Financials

FTI Consulting, Inc. (FCN) reported $3.69B in revenue for fiscal year 2024. This represents a 136% increase from $1.57B in 2011.

FTI Consulting, Inc. (FCN) grew revenue by 6.0% over the past year. This is steady growth.

Yes, FTI Consulting, Inc. (FCN) is profitable, generating $266.1M in net income for fiscal year 2024 (7.6% net margin).

Dividend & Returns

FTI Consulting, Inc. (FCN) has a return on equity (ROE) of 13.2%. This is reasonable for most industries.

FTI Consulting, Inc. (FCN) generated $96.1M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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