FTI Consulting, Inc.
- Open
- 148.39
- Day high
- 150.24
- Day low
- 147.13
- Prev close
- 149.29
- Volume
- 292K
- Mkt cap
- $4.5B
- P/E (TTM)
- 17.5
- EPS (TTM)
- $8.51
- P/B
- 2.7
- P/S
- 1.2
- Yield
- —
- Per share
- —
- ▲Insiders net buying $2.1M over the last 3 months (4 open-market buys, 0 sales)
- ◆Cluster buying — multiple insiders bought within days
- 🏛Institutions mixed (13F)
FTI Consulting, Inc. (FCN) is a Industrials company listed on NYSE. The stock is down 8% over the past year. Over the trailing 3 months, insiders filed 4 open-market buys and 0 sales (SEC Form 4).
FTI Consulting, Inc. (FCN) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
FCN earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 30, 2026 | $2.11 | $1.90 | -10.0% | $983M | +1.3% |
| Feb 26, 2026 | $1.39 | $1.78 | +28.1% | $991M | +7.9% |
| Oct 23, 2025 | $1.93 | $2.60 | +34.7% | $956M | +4.1% |
| Jul 24, 2025 | $1.87 | $2.13 | +13.9% | $944M | +0.3% |
| Apr 24, 2025 | $1.79 | $2.29 | +27.9% | $898M | -0.9% |
| Feb 20, 2025 | $1.73 | $1.56 | -9.8% | $895M | -5.1% |
| Oct 24, 2024 | $2.06 | $1.85 | -10.2% | $926M | +1.3% |
| Jul 25, 2024 | $2.02 | $2.34 | +15.8% | $949M | +1.1% |
| Apr 25, 2024 | $1.87 | $2.23 | +19.3% | $929M | +3.0% |
| Feb 22, 2024 | $1.67 | $2.28 | +36.5% | $925M | +10.0% |
| Oct 26, 2023 | $1.84 | $2.34 | +27.2% | $893M | +5.0% |
| Jul 27, 2023 | $1.60 | $1.75 | +9.4% | $865M | +4.9% |
FCN insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 8, 2026 | Costamagna Claudiodirector | Tax | 207 | $156.10 |
| Jun 8, 2026 | Boglioli Elsy Lisadirector | Tax | 138 | $156.10 |
| Jun 4, 2026 | Costamagna Claudiodirector | Grant | 1,616 | — |
| Jun 4, 2026 | Steigerwalt Eric Tdirector | Grant | 1,616 | — |
| Jun 4, 2026 | Seeger Laureendirector | Grant | 1,616 | — |
| Jun 4, 2026 | Robinson Stephen Cdirector | Grant | 1,616 | — |
| Jun 4, 2026 | Boglioli Elsy Lisadirector | Grant | 1,616 | — |
| Jun 4, 2026 | FANANDAKIS NICHOLAS Cdirector | Grant | 1,616 | — |
| Jun 4, 2026 | Seeger Laureendirector | Grant | 371 | — |
| Jun 4, 2026 | Zelenka Janetdirector | Grant | 1,616 | — |
| May 14, 2026 | Gunby Steven Henrydirector, officer: CEO, Chairman and President | Buy | 6,658 | $143.87 |
| May 14, 2026 | Linton Paul Aldermanofficer: Chief Strategy/Transf. Officer | Buy | 2,400 | $144.04 |
| May 14, 2026 | Gunby Steven Henrydirector, officer: CEO, Chairman and President | Buy | 3,342 | $144.77 |
| May 14, 2026 | Nam Eunofficer: Chief Financial Officer | Buy | 2,000 | $144.59 |
| May 7, 2026 | Gunby Steven Henrydirector, officer: CEO, Chairman and President | Option | 2,477 | $40.36 |
Source: FCN SEC Form 4 filings, latest Jun 8, 2026. For informational purposes only — not investment advice.
See the full FCN insider & 13F page →FTI Consulting, Inc. company profile
Overview
FTI Consulting, Inc. (NASDAQ:FCN) is a global business advisory firm founded in 1982 and headquartered in Washington, D.C. The company went public in 1996 and has grown to become one of the world's leading providers of professional services to help organizations manage change, mitigate risk, and resolve disputes. With operations spanning multiple continents, FTI Consulting serves clients across diverse industries through its five core business segments, offering specialized expertise in areas ranging from corporate restructuring to forensic investigations and strategic communications.
Business
FTI Consulting operates in the professional services industry, specifically providing business advisory services to corporations, law firms, government agencies, and other organizations facing complex challenges. The company's expertise spans crisis management, financial distress, legal disputes, regulatory compliance, and strategic transformation. The company operates through five distinct business segments: 1. Corporate Finance & Restructuring (approximately 38% of total revenue): This segment provides services to companies experiencing financial distress or undergoing significant business transformation. Services include turnaround and restructuring advisory, business transformation consulting, and transaction support. When companies face bankruptcy, debt restructuring, or operational challenges, FTI's professionals help develop and implement recovery strategies, negotiate with creditors, and manage complex reorganization processes. 2. Forensic and Litigation Consulting (approximately 19% of total revenue): This segment assists clients with legal disputes, investigations, and regulatory matters. Services include forensic accounting, data analytics, construction disputes, environmental consulting, and health solutions. When companies face lawsuits, regulatory investigations, or need to investigate potential fraud, FTI's experts provide technical analysis, expert testimony, and investigative services. 3. Economic Consulting (approximately 20% of total revenue): This segment provides economic analysis and expert testimony in legal and regulatory proceedings. Services include antitrust and competition economics, financial economics, and international arbitration support. When companies face antitrust investigations, merger reviews, or complex commercial disputes requiring economic analysis, FTI's economists provide quantitative analysis and expert opinions. 4. Technology (approximately 11% of total revenue): This segment offers legal technology services including e-discovery, information governance, cybersecurity, and privacy consulting. As legal proceedings increasingly involve vast amounts of electronic data, FTI helps clients manage, analyze, and produce electronic evidence while ensuring compliance with data protection regulations. 5. Strategic Communications (approximately 9% of total revenue): This segment provides corporate reputation management, financial communications, and public affairs services. When companies face crisis situations, regulatory scrutiny, or major transactions, FTI helps manage public perception, stakeholder communications, and media relations.
Revenue model
FTI Consulting generates revenue primarily through professional service fees charged on an hourly basis, though some services are provided on fixed-fee or success-fee arrangements. The company's clients include corporations, law firms, private equity firms, government agencies, and other organizations that require specialized expertise during critical situations. The business model is fundamentally people-driven, with revenue directly tied to the utilization rates and billing rates of its professional staff. Senior Managing Directors and Managing Directors typically command the highest billing rates, while junior professionals bill at lower rates. The company's ability to attract and retain top-tier talent is crucial to maintaining premium pricing and client relationships. Several factors influence FTI's revenue and margins. Economic uncertainty and market volatility generally increase demand for restructuring and crisis management services, as more companies face financial distress. Conversely, strong economic conditions may reduce restructuring demand but increase transaction-related work. Regulatory enforcement activity drives demand for forensic and compliance services, while M&A market activity affects both transaction advisory and antitrust consulting revenues. Talent competition represents a significant cost pressure, as the company must offer competitive compensation packages to attract experienced professionals from competitors. The company invests heavily in forgivable loans and signing bonuses to recruit senior talent, which can temporarily depress margins. Utilization rates also significantly impact profitability - when professionals are not actively engaged on billable client work, the company still incurs their compensation costs without corresponding revenue. The company's diverse service portfolio provides some revenue stability, as different segments often experience countercyclical demand patterns. When restructuring demand is low, transaction advisory work may be strong, and vice versa.
Competitive moat
FTI Consulting's competitive moat is moderately strong but not impregnable, built primarily on reputation, relationships, and specialized expertise rather than structural barriers to entry. The company's moat derives from several key factors. Reputation and track record serve as the primary competitive advantage. In high-stakes situations involving financial distress, major litigation, or corporate crises, clients typically seek advisors with proven expertise and successful case histories. FTI's decades of experience handling complex, high-profile matters creates trust and credibility that is difficult for new entrants to replicate quickly. Relationship-driven business model provides some protection, as senior professionals often maintain long-standing relationships with law firms, corporate clients, and other referral sources. These relationships can follow individual professionals when they change firms, but established firms like FTI benefit from institutional relationships built over many years. Specialized expertise and intellectual capital in niche areas like restructuring, forensic accounting, and economic analysis creates barriers to entry. The company's professionals often possess unique combinations of industry knowledge, technical skills, and regulatory expertise that cannot be easily replicated. However, the moat faces several vulnerabilities. Talent mobility represents the greatest threat, as key professionals can leave and potentially take clients with them. The company has experienced this challenge, particularly in its Economic Consulting segment where senior departures have created significant revenue headwinds. New competitors can emerge when experienced professionals from established firms start their own boutiques or join competing organizations. Technology disruption poses a long-term threat, as artificial intelligence and automation could potentially replace some analytical and document review functions, though complex advisory work requiring judgment and client interaction remains less susceptible to technological displacement. The professional services industry's low barriers to entry mean that well-funded competitors or teams of experienced professionals can establish competing practices relatively quickly, making FTI's moat more dependent on execution and talent retention than structural advantages.
Risks & safety
FTI Consulting demonstrates a moderate margin of safety with manageable financial risk but some operational vulnerabilities. Financial Position: - Cash position of $151 million with current ratio of 2.24, indicating solid short-term liquidity - Low debt-to-equity ratio of 0.17, minimal solvency risk - Positive free cash flow generation historically, though Q1 2025 showed negative $460 million due to timing of bonus payments and forgivable loan investments - Strong balance sheet with $3.3 billion in total assets Valuation Metrics: - Trading at 23.3x P/E ratio, reasonable for a professional services firm - EV/EBITDA of 16.1x, within acceptable range for the sector - Price-to-book ratio of 2.7x reflects asset-light business model Other Considerations: - Revenue concentration risk from talent departures, as evidenced by Economic Consulting segment challenges - Cyclical earnings exposure to economic conditions and M&A activity - High compensation costs create operating leverage in both directions - Forgivable loan investments ($162 million in Q1 2025) represent future talent retention costs
Recent development
Over the past few years, FTI Consulting has pursued several key strategic initiatives while navigating significant market challenges and operational changes. Aggressive Talent Acquisition Strategy: The company has substantially increased its investment in attracting senior professionals, hiring 25 Senior Managing Directors in the six months leading up to Q3 2024 and recruiting the largest campus class ever with 320 new professionals. This talent acquisition strategy includes significant upfront investments in forgivable loans, with $162 million funded in Q1 2025 alone, primarily in the Economic Consulting segment. Technology and AI Investment: FTI has been actively investing in artificial intelligence capabilities, focusing on building internal tools and enhancing client engagement capabilities. The company views AI as both an opportunity to improve service delivery and a potential competitive threat that requires proactive adaptation. Geographic Expansion: The company has continued building its international presence, particularly in the EMEA region, with strong growth in Germany and other European markets. This expansion aims to create multi-segment capabilities across different geographic markets. Operational Challenges and Restructuring: The company faced significant headwinds in 2024-2025, particularly in its Economic Consulting segment, where senior departures in the US competition practice created substantial revenue and margin pressures. In response, FTI implemented targeted headcount reductions affecting approximately 4% of its workforce, expecting to achieve $85 million in annual cost savings. Segment Performance Optimization: FTI has implemented performance-weighted compensation plans in underperforming segments like Forensic and Litigation Consulting to improve productivity and profitability. The company has also been focusing on improving utilization rates and pricing discipline across all segments. Market Positioning for Economic Recovery: Despite near-term challenges, the company has positioned itself to benefit from expected increases in restructuring activity, M&A transactions, and regulatory enforcement as market conditions evolve.
FCN company profile · for informational purposes only — not investment advice.
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