FTI Consulting, Inc.
Description
FTI Consulting, Inc. provides business advisory services to manage change, mitigate risk, and resolve disputes worldwide. The company operates through Corporate Finance & Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology, and Strategic Communications segments. The Corporate Finance & Restructuring segment provides business transformation and strategy, transactions, and turnaround and restructuring services. The Forensic and Litigation Consulting segment offers construction and environmental solutions, data and analytics, disputes, health solutions, and risk and investigation services. The Economic Consulting segment provides antitrust and competition economics, financial economics, and international arbitration services. The Technology segment offers corporate legal department consulting; e-discovery and expertise; and information governance, privacy, and security services. The Strategic Communications segment provides corporate reputation, financial communications, and public affairs services. It serves aerospace and defense, airlines and aviation, blockchain and digital assets, chemicals, construction and environmental solutions, energy, financial services, food and agriculture, healthcare and life sciences, hospitality, gaming and leisure, automotive and industrial, insurance, mining, private equity, power and renewable, public sector and government contracts, real estate, retail and consumer products, telecom, media and technology, and transportation and logistics sectors. FTI Consulting, Inc. was incorporated in 1982 and is headquartered in Washington, the District of Columbia.
About
Earnings
| Date | Estimate EPS | Actual EPS | Difference | % Surprise |
|---|---|---|---|---|
| Oct 22, 2025 | — | — | — | — |
| Jul 23, 2025 | — | — | — | — |
| Apr 23, 2025 | — | — | — | — |
| Feb 20, 2025 | 1.73 | — | — | — |
| Oct 24, 2024 | 2.06 | 1.85 | -0.21 | -10.19% |
Earnings estimate
|
Next Quarter
(Mar 2025)
|
Next Year
(Dec 2025)
|
|||
|---|---|---|---|---|
| Number of analysts | — | 3 | — | 3 |
| Average estimate | — | 1.96 | — | 8.68 |
| Low estimate | — | 1.87 | — | 8.55 |
| High estimate | — | 2.13 | — | 8.80 |
| Last year EPS | — | 2.23 | — | 8.15 |
Growth estimates
Analyst Ratings
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| Sep 25, 2024 |
Truist Securities
Tobey Sommer
|
Maintains | Buy | ▲ Raises $255 → $275 |
| Feb 23, 2024 |
Truist Securities
Tobey Sommer
|
Maintains | Buy | ▲ Raises $240 → $255 |
| Nov 28, 2023 |
Truist Securities
Tobey Sommer
|
Reiterates | Buy | Maintains $240 |
| Oct 18, 2023 |
Truist Securities
Tobey Sommer
|
Reiterates | Buy | Maintains $210 |
| Mar 24, 2023 |
Goldman Sachs
James Yaro
|
Maintains | Neutral | ▲ Raises $190 → $210 |
| Mar 13, 2023 |
Truist Securities
Tobey Sommer
|
Maintains | Buy | ▲ Raises $220 → $240 |
| Jan 11, 2023 |
Goldman Sachs
James Yaro
|
Initiates | Neutral | Announces $167 |
| Jun 6, 2022 |
Truist Securities
Tobey Sommer
|
Maintains | Buy | ▲ Raises $200 → $220 |
| May 7, 2021 |
Berenberg
|
Initiates | Buy | — |
| May 1, 2020 |
Sidoti & Co.
Marc Riddick
|
Upgrade | Buy | ▲ Raises $152 → $171 |
| Oct 25, 2019 |
Sidoti & Co.
|
Maintains | Buy | ▲ Raises $134 → $150 |
| Oct 10, 2019 |
Sidoti & Co.
|
Maintains | Buy | ▲ Raises $121 → $134 |
| Jul 23, 2019 |
Sidoti & Co.
|
Maintains | Buy | ▲ Raises $99 → $117 |
| Jul 10, 2019 |
SunTrust Robinson Humphrey
|
Upgrade | Buy | — |
| Jan 6, 2017 |
SunTrust Robinson Humphrey
|
Downgrade | Hold | — |
| Oct 31, 2016 |
Avondale Partners
|
Downgrade | Market Perform | — |
| Aug 18, 2016 |
Deutsche Bank
|
Initiates | Hold | — |
| Mar 11, 2016 |
William Blair
|
Downgrade | Market Perform | — |
| Oct 30, 2015 |
SunTrust Robinson Humphrey
|
Maintains | Buy | ▼ Lowers $51 → $45 |
| Jun 19, 2015 |
Deutsche Bank
|
Maintains | Hold | ▲ Raises $42 → $43 |
| Oct 31, 2014 |
Deutsche Bank
|
Maintains | Hold | ▲ Raises $36 → $40 |
| Oct 6, 2014 |
Stifel
|
Upgrade | Buy | — |
| Sep 29, 2014 |
Avondale Partners
|
Upgrade | Market Outperform | ▲ Raises $42 → $43 |
| Sep 24, 2014 |
William Blair
|
Upgrade | Outperform | — |
| Jun 23, 2014 |
Macquarie
|
Upgrade | Outperform | — |
| Jun 18, 2014 |
Deutsche Bank
|
Maintains | Hold | ▲ Raises $30 → $36 |
| Feb 21, 2014 |
Macquarie
|
Maintains | Neutral | ▼ Lowers $42 → $30 |
| Dec 12, 2013 |
Stifel
|
Initiates | Hold | — |
| Dec 12, 2013 |
Stifel Nicolaus
|
Initiates | Hold | — |
| Dec 11, 2013 |
Stifel Nicolaus
|
Initiates | Hold | — |
Income statement
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total reported revenue | 3.49B | 3.03B | 2.78B | 2.46B | 2.35B |
| Cost of revenue | 2.35B | 2.07B | 1.92B | 1.67B | 1.53B |
| Gross profit | 1.14B | 962.93M | 860.72M | 788.56M | 817.82M |
| Operating expense | |||||
| Research & development | — | — | — | — | — |
| Selling general and admin | 751.31M | 641.07M | 537.84M | 488.41M | 504.07M |
| Other operating expenses | — | 1.28M | — | 2.76M | — |
| Operating income | 377.56M | 310.94M | 312.05M | 287.01M | 305.60M |
| Non operating interest income | |||||
| Income | 5.21M | 4.62M | 3.49M | 3.74M | 4.76M |
| Expense | 14.33M | 10.05M | 20.29M | 19.81M | 19.21M |
| Other income expense | -10.08M | -7.76M | 2.70M | -8.49M | -2.70M |
| Pretax income | 358.36M | 297.75M | 297.95M | 262.45M | 288.45M |
| Tax provision | 83.47M | 62.24M | 62.98M | 51.76M | 71.72M |
| Net income | 274.89M | 235.51M | 234.97M | 210.68M | 216.73M |
| Basic EPS | 8.10 | 6.99 | 7.02 | 5.92 | 5.89 |
| Diluted EPS | 7.71 | 6.58 | 6.65 | 5.67 | 5.69 |
| Basic average shares | 33.92M | 33.69M | 33.49M | 35.60M | 36.77M |
| Diluted average shares | 33.92M | 33.69M | 33.49M | 35.60M | 36.77M |
| EBITDA | 429.27M | 360.34M | 360.91M | 333.74M | 349.02M |
| Net income from continuing op. | 274.89M | 235.51M | 234.97M | 210.68M | 216.73M |
| Minority interests | — | — | — | — | — |
| Preferred stock dividends | — | — | — | — | — |
Balance sheet
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total assets | 3.33B | 3.24B | 3.10B | 2.78B | 2.78B |
| Current assets | |||||
| Cash | — | — | — | — | — |
| Cash equivalents | — | — | — | — | — |
| Cash and cash equivalents | 303.22M | 491.69M | 494.49M | 294.95M | 369.37M |
| Other short term investments | 25.46M | — | — | — | — |
| Accounts receivable | 745.37M | 633.06M | 542.06M | 513.46M | 482.33M |
| Other receivables | 421.49M | 308.87M | 248.68M | 236.29M | 246.21M |
| Inventory | — | — | — | — | — |
| Prepaid assets | 51.14M | 46.90M | 52.75M | 48.22M | 39.74M |
| Restricted cash | — | — | — | — | — |
| Assets held for sale | — | — | — | — | — |
| Hedging assets | — | — | — | — | — |
| Other current assets | 27.43M | 37.61M | 31.16M | 29.62M | 32.91M |
| Non current assets | |||||
| Properties | 208.91M | 203.76M | 216.00M | 156.65M | 159.78M |
| Land and improvements | — | — | — | — | — |
| Machinery furniture equipment | 181.49M | 147.32M | 140.12M | 134.03M | 156.60M |
| Construction in progress | 5.73M | 43.93M | 21.05M | 15.29M | 4.36M |
| Leases | 149.13M | 129.04M | 128.95M | 97.07M | 99.84M |
| Accumulated depreciation | -176.69M | -166.82M | -147.96M | -144.75M | -167.13M |
| Goodwill | 2.49B | 2.48B | 2.50B | 2.51B | 2.44B |
| Investment properties | — | — | — | — | — |
| Financial assets | — | — | — | — | — |
| Intangible assets | 18.29M | 25.51M | 31.99M | 41.55M | 38.43M |
| Investments and advances | — | — | — | — | — |
| Other non current assets | 73.57M | 64.49M | 54.40M | 51.82M | 40.80M |
| Total liabilities | 1.34B | 1.56B | 1.52B | 1.38B | 1.29B |
| Current liabilities | |||||
| Accounts payable | 21.72M | 20.27M | 16.19M | 13.12M | 18.35M |
| Accrued expenses | 74.73M | 67.33M | 63.77M | 67.98M | 48.75M |
| Short term debt | 33.86M | 31.92M | 30.83M | 42.72M | 35.73M |
| Deferred revenue | 67.94M | 53.65M | 45.54M | 44.17M | 36.70M |
| Tax payable | 58.73M | 20.36M | 18.91M | 14.72M | 35.90M |
| Pensions | 601.07M | 541.89M | 507.56M | 455.93M | 416.90M |
| Other current liabilities | 34.72M | 34.08M | 35.33M | 31.52M | 20.21M |
| Non current liabilities | |||||
| Long term debt | 223.77M | 536.78M | 533.18M | 447.81M | 451.99M |
| Provision for risks and charges | — | — | — | — | — |
| Deferred liabilities | 140.98M | 162.37M | 170.61M | 158.34M | 151.35M |
| Derivative product liabilities | — | — | — | — | — |
| Other non current liabilities | 86.94M | 91.05M | 95.68M | 100.86M | 78.12M |
| Shareholders equity | |||||
| Common stock | 355,000 | 340,000 | 343,000 | 345,000 | 374,000 |
| Retained earnings | 2.11B | 1.86B | 1.70B | 1.51B | 1.41B |
| Other shareholders equity | -150.46M | -176.72M | -128.84M | -106.44M | -140.85M |
| Total shareholders equity | 1.98B | 1.68B | 1.58B | 1.40B | 1.49B |
| Additional paid in capital | 16.76M | — | 13.66M | — | 216.16M |
| Treasury stock | — | — | — | — | — |
| Minority interest | — | — | — | — | — |
Cash flow statement
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 | 1995 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||||||||||||||||||||
| Net Income | 274.89M | 235.51M | 234.97M | 210.68M | 216.73M | 150.61M | 107.96M | 85.52M | 66.05M | 58.81M | -10.59M | -36.99M | 103.90M | 65.98M | 143.03M | 120.91M | 92.12M | 42.02M | 56.37M | 42.88M | 59.47M | 37.16M | 16.47M | 2.56M | 3.00M | 2.60M | 3.30M | 1.70M | 700,000 |
| Depreciation | 47.24M | 45.54M | 45.09M | 43.05M | 38.31M | 39.70M | 41.74M | 49.01M | 43.12M | 50.65M | 55.59M | 56.51M | 50.95M | 79.00M | 53.47M | 44.86M | 29.97M | 24.37M | 17.89M | 15.95M | 10.68M | 5.98M | 8.92M | 7.49M | 4.90M | 3.00M | 1.70M | 900,000 | 600,000 |
| Deferred Taxes | -25.45M | -10.46M | 4.96M | -9.13M | -3.71M | 20.83M | -51.58M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 2.96M | -134,000 | -254,000 | -200,000 | -600,000 | -200,000 | 300,000 | -200,000 |
| Stock-Based Compensation | 29.53M | 25.41M | 23.05M | 22.90M | 17.98M | 15.58M | 16.03M | 16.92M | 17.95M | 22.85M | 35.13M | 29.36M | 37.35M | 35.25M | 25.63M | 26.38M | 22.70M | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Non-Cash Items | 5.74M | 4.40M | 11.38M | 16.85M | 14.29M | 6.70M | 4.89M | 2.95M | 561,000 | 493,000 | -9.75M | 6.27M | -94,000 | 14.34M | 25.48M | 33.01M | 15.27M | 25.34M | — | 3.27M | 2.81M | 849,000 | — | — | — | -100,000 | — | — | 100,000 |
| Accounts Receivable | -252.22M | -183.07M | -48.63M | -18.77M | -131.45M | -63.05M | -35.90M | 6.62M | -32.54M | -61.33M | -63.83M | -29.42M | -97.96M | -41.04M | -31.68M | -58.63M | -107.60M | -56.01M | -34.66M | -27.86M | 179,000 | 551,000 | -2.09M | -8.20M | -2.50M | 1.30M | -3.70M | -2.70M | -1.30M |
| Accounts Payable | 8.69M | 8.43M | -2.10M | 13.90M | -8.91M | 8.91M | 4.42M | 3.27M | -4.72M | 980,000 | 8.51M | -12.46M | 11.47M | 18.61M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Assets & Liabilities | 43.09M | 4.95M | 12.22M | -15.37M | 16.36M | -12.78M | 42.26M | 22.79M | 13.12M | 22.86M | 5.01M | 5.32M | 4.99M | 1.90M | 2.92M | 10.91M | 18.52M | 8.50M | 36.06M | 6.79M | -1.36M | 19.84M | 3.47M | 3.77M | 3.20M | -1.50M | 1.20M | -700,000 | 300,000 |
| Operating Cash Flow | 131.52M | 130.72M | 280.93M | 264.11M | 159.59M | 166.51M | 129.82M | 187.07M | 103.54M | 95.31M | 20.05M | 18.59M | 110.62M | 174.05M | 218.84M | 177.43M | 70.98M | 44.23M | 75.65M | 41.03M | 71.79M | 67.33M | 26.63M | 5.37M | 8.40M | 4.70M | 2.30M | -500,000 | 200,000 |
| Investing Activities | |||||||||||||||||||||||||||||
| Capital Expenditures | -49.48M | -53.32M | -68.67M | -34.85M | -41.82M | -32.27M | -32.00M | -28.94M | -31.40M | -39.26M | -42.54M | -27.76M | -31.09M | -22.60M | -28.56M | -35.67M | -36.42M | -30.36M | -17.83M | -11.94M | -10.26M | -8.78M | -3.14M | -6.59M | -2.50M | -29.70M | -6.60M | -1.70M | -1.60M |
| Net Intangibles | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Net Acquisitions | — | -6.74M | -10.43M | -25.27M | -18.79M | 50.28M | -8.93M | -1.25M | -575,000 | -23.47M | -55.50M | -62.89M | -62.35M | -63.09M | -46.71M | -343.17M | -32.24M | -267.33M | -52.18M | -1.25M | -233.71M | -145.41M | -211,000 | -49.40M | — | — | — | — | — |
| Purchase of Investments | -24.36M | — | — | — | — | — | — | — | — | — | -5.09M | — | — | — | -35.72M | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Sale of Investments | — | — | — | — | — | — | — | — | — | — | — | — | — | 15.00M | 20.58M | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Investing Cash Flow | -73.84M | -60.06M | -79.09M | -60.10M | -60.35M | 18.74M | -40.64M | -30.13M | -31.74M | -57.60M | -108.19M | -90.41M | -93.65M | -71.09M | -89.89M | -374.14M | -68.18M | -297.39M | -64.86M | -13.69M | -243.89M | -156.39M | -6.30M | -56.66M | -4.60M | -30.10M | -6.20M | -2.30M | -1.80M |
| Financing Activities | |||||||||||||||||||||||||||||
| Long-Term Debt Issuance | 835.00M | 165.00M | 402.50M | 289.50M | 45.00M | 549.75M | 422.00M | — | 200.00M | — | — | 292.61M | 25.00M | 410.45M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Long-Term Debt Payments | -1.15B | -165.00M | -402.50M | -289.50M | -45.00M | -633.50M | -392.00M | -130.00M | -425.67M | -6.01M | -6.02M | -377.86M | -31.99M | -229.75M | -13.76M | -11.02M | -32.95M | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Financing Charges | -17.92M | -20.59M | -15.54M | -6.46M | 2.49M | -16.51M | -2.34M | 4.47M | -425,000 | 11.94M | 263,000 | -4.56M | 6.56M | -2.41M | 7.78M | 10.71M | 17.99M | -7.00M | -13.11M | -50,000 | -3.78M | -3.20M | -14,000 | -5.30M | 100,000 | -1.90M | -200,000 | 100,000 | — |
| Financing Cash Flow | -354.66M | -106.01M | -61.67M | -360.05M | -103.31M | -255.99M | -110.43M | -277.02M | -52.63M | 1.56M | -72.52M | -64.84M | -198.73M | 143.85M | -240.28M | 17.98M | 244.65M | -20.16M | -151.61M | -7.99M | 104.31M | 3.33M | 12.83M | 18.58M | 500,000 | -300,000 | -100,000 | 10.70M | -800,000 |
| Other Cash Details | |||||||||||||||||||||||||||||
| End Cash Position | 303.22M | 491.69M | 494.49M | 294.95M | 369.37M | 312.07M | 189.96M | 216.16M | 149.76M | 283.68M | 205.83M | 156.79M | 264.42M | 384.57M | 118.87M | 191.84M | 360.46M | 91.92M | 153.38M | 25.70M | 5.77M | 9.91M | 12.86M | 3.24M | 5.00M | — | — | — | — |
| Income Tax Paid | 79.59M | 77.01M | 47.50M | 83.45M | 50.94M | 45.57M | 4.93M | 20.27M | 20.65M | 27.33M | 35.07M | 46.92M | 38.74M | 33.24M | 54.12M | 64.95M | 58.35M | — | — | — | — | — | — | — | — | — | — | — | — |
| Interest Paid | 14.39M | 7.84M | 9.10M | 7.75M | 7.61M | 21.69M | 23.29M | 23.15M | 46.97M | 48.17M | 48.16M | 57.08M | 50.66M | 35.44M | 38.74M | 39.01M | 40.20M | — | — | — | — | — | — | — | — | — | — | — | — |
| Free Cash Flow | 174.98M | 135.48M | 286.82M | 292.22M | 176.07M | 198.40M | 115.62M | 204.55M | 108.52M | 96.15M | 150.73M | 92.43M | 142.74M | 172.45M | 222.21M | 161.81M | 32.31M | 33.61M | 81.55M | 46.50M | 89.57M | 71.88M | 31.06M | 8.96M | 5.30M | -24.50M | -3.00M | -2.20M | -100,000 |
Top Institutional Holders
| Holder | Date Reported | Shares | Value | % Held |
|---|---|---|---|---|
| Victory Portfolios-Sycamore Established Value Fund | Sep 30, 2024 | 1,400,000 | 271.01M | 3.89% |
| iShares Core S&P Midcap ETF | Nov 30, 2024 | 1,133,187 | 219.36M | 3.15% |
| Vanguard Total Stock Market Index Fund | Sep 30, 2024 | 1,130,123 | 218.77M | 3.14% |
| Vanguard Small-Cap Index Fund | Sep 30, 2024 | 898,759 | 173.98M | 2.50% |
| Price (T.Rowe) All-Cap Opportunities Fund | Sep 30, 2024 | 866,380 | 167.71M | 2.41% |
| Eaton Vance Atlanta Capital SMID-Cap Fd | Sep 30, 2024 | 781,999 | 151.38M | 2.18% |
| Virtus Equity Tr-Virtus KAR Small Cap Core Fd | Sep 30, 2024 | 609,294 | 117.95M | 1.70% |
| Vanguard Small Cap Value Index Fund | Sep 30, 2024 | 608,372 | 117.77M | 1.69% |
| Vanguard Extended Market Index Fund | Sep 30, 2024 | 529,735 | 102.55M | 1.47% |
| Neuberger & Berman Genesis Fund | Nov 30, 2024 | 410,783 | 79.52M | 1.14% |
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