Exponent, Inc.
- Open
- 59.76
- Day high
- 61.44
- Day low
- 59.24
- Prev close
- 58.76
- Volume
- 191K
- Mkt cap
- $2.9B
- P/E (TTM)
- 28.1
- EPS (TTM)
- $2.15
- P/B
- 8.7
- P/S
- 4.9
- Yield
- 2.02%
- Per share
- $1.22
- ▼Insiders net selling -$1.5M over the last 3 months (0 open-market buys, 12 sales)
- 🏛Institutions mixed (13F)
Exponent, Inc. (EXPO) is a Industrials company listed on NASDAQ. The stock is down 23% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 12 sales (SEC Form 4).
Exponent, Inc. (EXPO) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
EXPO earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 30, 2026 | $0.56 | $0.59 | +5.4% | $152M | +1.5% |
| Feb 5, 2026 | $0.47 | $0.49 | +4.3% | $147M | +2.0% |
| Oct 30, 2025 | $0.50 | $0.55 | +10.0% | $147M | +14.5% |
| Jul 31, 2025 | $0.48 | $0.52 | +8.3% | $142M | +7.5% |
| May 1, 2025 | $0.48 | $0.52 | +8.3% | $146M | +8.1% |
| Feb 6, 2025 | $0.40 | $0.46 | +15.0% | $137M | +14.4% |
| Oct 24, 2024 | $0.48 | $0.50 | +4.2% | $136M | +12.7% |
| Jul 25, 2024 | $0.50 | $0.57 | +14.0% | $141M | +7.4% |
| Apr 25, 2024 | $0.47 | $0.59 | +25.5% | $145M | +15.0% |
| Feb 1, 2024 | $0.44 | $0.41 | -6.8% | $123M | +3.2% |
| Oct 26, 2023 | $0.49 | $0.48 | -2.0% | $133M | +5.7% |
| Jul 27, 2023 | $0.51 | $0.50 | -2.0% | $140M | +8.2% |
EXPO insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 29, 2026 | Corrigan Catherinedirector, officer: Chief Executive Officer | Option | 7,872 | $25.41 |
| Jun 17, 2026 | Corrigan Catherinedirector, officer: President & CEO | Sell | 1,793 | $57.13 |
| Jun 17, 2026 | Corrigan Catherinedirector, officer: President & CEO | Sell | 2,326 | $57.13 |
| Jun 17, 2026 | Corrigan Catherinedirector, officer: President & CEO | Option | 3,225 | $25.41 |
| Jun 17, 2026 | Corrigan Catherinedirector, officer: President & CEO | Option | 2,380 | $29.05 |
| Jun 4, 2026 | Zumwalt Debradirector | Option | 2,009 | — |
| Jun 4, 2026 | Lindstrom Caroldirector | Option | 2,009 | — |
| Jun 4, 2026 | RICHARDSON KAREN Adirector | Option | 2,009 | — |
| Jun 4, 2026 | JOHNSTON PAUL Rdirector | Option | 2,009 | — |
| Jun 4, 2026 | Zumwalt Debradirector | Grant | 2,859 | — |
| Jun 4, 2026 | Brown George H.director | Option | 2,009 | — |
| Jun 4, 2026 | Lindstrom Caroldirector | Grant | 2,859 | — |
| Jun 4, 2026 | RICHARDSON KAREN Adirector | Grant | 2,859 | — |
| Jun 4, 2026 | Brown George H.director | Grant | 2,859 | — |
| May 27, 2026 | James Bradley Aofficer: Group Vice President | Sell | 2,000 | $57.47 |
Source: EXPO SEC Form 4 filings, latest Jun 29, 2026. For informational purposes only — not investment advice.
See the full EXPO insider & 13F page →Exponent, Inc. company profile
Overview
Exponent, Inc. (NASDAQ:EXPO) is a science and engineering consulting company founded in 1967 and headquartered in Menlo Park, California. Originally known as The Failure Group, Inc., the company changed its name to Exponent in 1998 and went public in 1990. The firm has evolved from its origins in failure analysis to become a comprehensive multidisciplinary consulting organization serving clients across diverse industries worldwide. Today, Exponent operates through two main segments and provides approximately 90 technical disciplines to solve complex engineering, scientific, and regulatory challenges for corporations, government agencies, and legal firms.
Business
Exponent operates as a specialized consulting firm that applies scientific and engineering expertise to solve complex problems across multiple industries. The company's work falls into two primary categories: reactive services, which involve investigating failures, accidents, and disputes after they occur, and proactive services, which help clients prevent problems through risk assessment, product development support, and regulatory compliance. The company operates through two main business segments. The Engineering and Other Scientific segment accounts for approximately 83-84% of total revenues and provides services in biomechanics, biomedical engineering, building and structural analysis, civil engineering, construction consulting, data sciences, electrical engineering, computer science, human factors research, materials and corrosion engineering, mechanical engineering, polymer science, thermal sciences, and vehicle engineering. The Environmental and Health segment represents 16-17% of revenues and focuses on chemical regulation and food safety, ecological and biological sciences, environmental and earth sciences, and health sciences. Exponent's reactive work, which comprises about 60% of the business, typically involves failure analysis, accident reconstruction, product liability cases, and litigation support. This work is often driven by external events such as product recalls, industrial accidents, or legal disputes. The proactive work, representing 40% of the business, includes product development consulting, risk assessment, regulatory compliance support, and safety testing. This work is more closely tied to clients' business cycles and innovation timelines. The company serves diverse end markets including consumer products (25% of revenue), energy (20%), transportation (mid-teens percentage), chemicals (low-teens percentage), and life sciences (high single digits percentage). Each sector presents unique opportunities, with consumer products being predominantly proactive work tied to product development cycles, while transportation work is approximately 90% reactive, driven by increasing complexity in advanced vehicle technologies and autonomous systems.
Revenue model
Exponent generates revenue primarily through professional services fees charged on a time-and-materials basis. The company's consultants, who are typically PhD-level scientists and engineers, bill their time at premium hourly rates that reflect their specialized expertise. Revenue is also generated through project-based engagements and retainer arrangements with clients who require ongoing consulting support. The company's paying customers include corporations across various industries, government agencies, insurance companies, and law firms. Corporate clients engage Exponent for product development support, risk assessment, and regulatory compliance, while legal clients utilize the firm's expertise for litigation support and expert testimony. Insurance companies often retain Exponent to investigate claims and assess liability in complex technical matters. Exponent's business model benefits from several factors that can positively impact margins. The firm's multidisciplinary approach allows it to command premium rates, as clients value the ability to access diverse expertise from a single provider. The company's reputation and track record in high-stakes engagements, including expert testimony in major litigation cases, supports pricing power. Additionally, the reactive nature of much of the work creates demand that is relatively insensitive to economic cycles, as failures and disputes require immediate attention regardless of market conditions. However, several factors can pressure margins. Competition from other consulting firms and internal corporate teams can limit pricing flexibility. Economic downturns may cause clients to defer proactive work such as product development consulting and risk assessment. The company's high utilization rates, while beneficial for revenue, can limit flexibility to take on additional high-margin work. Additionally, the specialized nature of the work requires continuous investment in recruiting and retaining top-tier talent, which represents the company's primary cost structure. Fluctuations in demand across different industry sectors can also impact overall profitability, as some sectors may offer higher margins than others.
Competitive moat
Exponent's competitive moat stems from several interconnected factors, though the strength of this moat is moderate rather than insurmountable. The company's primary advantage lies in its multidisciplinary expertise and the ability to seamlessly integrate diverse scientific and engineering disciplines on complex projects. This breadth of capability is difficult for competitors to replicate, as it requires decades of investment in building teams across numerous technical specialties. The firm's reputation and track record in high-stakes engagements, particularly in litigation and regulatory matters, creates significant switching costs for clients. When facing major product liability cases or regulatory challenges, clients are reluctant to risk using unproven consultants. Exponent's history of successful expert testimony and problem-solving in complex technical disputes reinforces client loyalty and supports premium pricing. The company also benefits from network effects within the legal and regulatory communities. Attorneys and corporate legal departments often recommend Exponent based on past successful engagements, creating a self-reinforcing cycle of referrals. The firm's involvement in high-profile cases also serves as marketing, demonstrating capabilities to potential clients. However, Exponent's moat faces several potential threats. Large consulting firms such as McKinsey, Deloitte, and Accenture have been expanding their technical capabilities and could potentially compete for some of Exponent's work. Additionally, corporations are increasingly building internal technical expertise, which could reduce demand for external consulting. The rise of artificial intelligence and machine learning tools may also democratize some types of technical analysis, potentially reducing the need for specialized human expertise in certain areas. The company's dependence on human capital also creates vulnerability, as key experts could potentially leave to start competing firms or join clients directly. While Exponent has built strong retention programs and a collaborative culture, the specialized nature of the work means that individual experts can have significant impact on the firm's capabilities in specific areas.
Risks & safety
Exponent demonstrates a strong margin of safety based on its robust financial position and conservative capital structure. • Liquidity and Solvency: The company maintains excellent liquidity with $245 million in cash and short-term investments as of Q1 2025, representing about 32% of total assets. With a current ratio of 3.32 and minimal debt (debt-to-equity ratio of 0.18), solvency risk is very low. Free cash flow generation remains positive at $5.5 million in Q1 2025, though this represents a significant decline from $53.5 million in Q4 2024. • Valuation Metrics: The stock appears expensive on traditional metrics with a P/E ratio of 37.1 and EV/EBITDA of 23.5 as of Q1 2025. The price-to-book ratio of 9.0 suggests the market is pricing in significant growth expectations. These elevated multiples indicate limited margin of safety from a valuation perspective. • Other Considerations: The company's asset-light business model reduces capital requirements but increases dependence on human capital. Revenue visibility is limited due to the project-based nature of much of the work, though the reactive component provides some stability. The firm's strong market position and recurring client relationships provide some downside protection, but the premium valuation leaves little room for execution missteps or market disappointment.
Recent development
Over the past few years, Exponent has strategically positioned itself to capitalize on several emerging technological and regulatory trends. The company has significantly expanded its capabilities in artificial intelligence and machine learning, both as a tool for analysis and as a subject of investigation for safety-critical applications. This includes work on advanced driver assistance systems, autonomous vehicles, and AI-powered medical devices. The firm has also invested heavily in digital health and wearable technologies, recognizing the growing intersection of consumer electronics and healthcare. This expansion includes recruiting specialists in sensor technology, biomedical engineering, and regulatory affairs to support clients developing next-generation health monitoring devices. In response to the energy transition, Exponent has built substantial expertise in renewable energy technologies, including wind farms, solar installations, and energy storage systems. The company has expanded its capabilities in battery technology, grid integration, and the unique engineering challenges associated with clean energy infrastructure. The company has also strengthened its position in chemical regulation and PFAS (per- and polyfluoroalkyl substances) consulting, as regulatory scrutiny of these "forever chemicals" has intensified. This includes both proactive work helping companies understand regulatory requirements and reactive work related to litigation and environmental remediation. Strategically, Exponent has focused on selective hiring in high-growth areas rather than broad headcount expansion. The company has been particularly aggressive in recruiting talent in vehicle automation, asset risk management, and health sciences. This targeted approach allows the firm to maintain high utilization rates while building capabilities in the most promising market segments. The company has also enhanced its international presence, particularly in Asia, as clients increasingly seek to diversify their supply chains and navigate complex global regulatory environments. This expansion supports both proactive work in product development and reactive work in failure analysis and dispute resolution.
EXPO company profile · for informational purposes only — not investment advice.
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