Latest revenue
$983.3M
as of 2026-03-31
Latest net income
$57.6M
as of 2026-03-31
Net margin
5.9%
as of 2026-03-31
ActaClear Score
Computed from 5 years of SEC fundamentals + latest market data, ranked within Services-Management Consulting Services (50 peers). 10 = best in industry, 5 = median, 0 = worst. Refreshed Jun 7, 2026.
Fair value · DCF
DCF: 10-year forecast of free cash flow, discounted at the company's WACC, with a Gordon-growth terminal at year 10. FCF is proxied by last fiscal-year net income (proper FCF needs CFO − CapEx by year, which we don't store yet). Drag the slider to test your own growth thesis — the dominant assumption in any DCF is what comes next, not what the math does with it. Beta defaults to 1.0 when not reported.
Community sentiment
Where do you think FCN is heading?
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $5.50B
- Enterprise value
- $6.36B
- P/E (trailing)
- 20.3×
- Forward P/E
- —
- P/B
- 3.31×
- Dividend yield
- 0.0%
- 52-wk high
- $189.30
- 52-wk low
- $140.84
- Beta
- —
- Shares out
- 34.5M
5-year trend
What this company does
FTI Consulting is a global business advisory firm whose experts help companies navigate disputes, restructurings, investigations, regulatory matters, and complex strategic challenges. It earns fees by billing client engagements across five segments, generating $983 million in quarterly revenue, primarily from consulting services delivered by professional staff. The firm took on $390 million in net new debt this quarter to fund aggressive share buybacks, shrinking its share count roughly 14% year-over-year while margins remain pressured by rising compensation costs.
Generated from FCN's filing dated 2026-02-26
Key risks
- Leverage jumped: long-term debt rose to $754M from $365M in Q1, with new $300M term loan and revolver borrowings funding $127M buybacks.
- Margin pressure: SG&A rose 21% to $222M while revenue grew only 9.5%, and interest expense surged to $6.4M from $1.0M YoY.
- Working capital strain: receivables grew $110M and operating cash flow was negative $310M, with notes receivable balance of $337M tying up capital.
Generated from FCN's filing dated 2026-02-26
Profitability
Operating margin
10.3%
9.3%Net margin
7.1%
5.6%Return on equity
15.6%
26.0%Return on assets
7.8%
0.3%Leverage
Debt / equity
1.01×
71.0%Long-term debt / equity
0.21×
Debt / assets
50.3%
35.2%Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-03-31 | $983.3M | +9.5% | $57.6M | -6.8% | 5.9% |
Q4 2025 2025-12-31 | $990.7M | +10.7% | $54.5M | +9.7% | 5.5% |
Q3 2025 2025-09-30 | $956.2M | +3.3% | $82.8M | +24.6% | 8.7% |
Q2 2025 2025-06-30 | $943.7M | -0.6% | $71.7M | -14.6% | 7.6% |
Q1 2025 2025-03-31 | $898.3M | -3.3% | $61.8M | -22.7% | 6.9% |
Q4 2024 2024-12-31 | $894.9M | — | $49.7M | — | 5.6% |
Q3 2024 2024-09-30 | $926.0M | +3.7% | $66.5M | -20.2% | 7.2% |
Q2 2024 2024-06-30 | $949.2M | +9.8% | $83.9M | +34.5% | 8.8% |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
Services-Management Consulting Services · SIC 8742
Your notes
Keep private notes on FCN — thesis, target price, catalysts to watch.
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Insider activity
Insider buying
$3.2M
Insider selling
$2.2M
Net activity
+$973.4K
Distinct insiders
4
Open-market trades over the last 365 days.
Recent transactions
Source: SEC Form 4 filings. Officers, directors, and 10%+ owners must disclose share transactions within two business days. RSU grants and tax-withholding rows are excluded by default — compensation activity is not a trading signal.
Who owns FCN
Institutional value
$2.57B
Total shares held
15.2M
Distinct holders
277
-61 vs prior
As of
2026-03-31
Prior: 2025-12-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | BlackRock, Inc. | 2.8M | $487.3M | +13.4K (+0.5%) | Added |
| 2 | VANGUARD PORTFOLIO MANAGEMENT LLC | 1.4M | $248.9M | — | New |
| 3 | VANGUARD CAPITAL MANAGEMENT LLC | 1.4M | $241.1M | — | New |
| 4 | Mawer Investment Management Ltd. | 1.3M | $231.7M | -994.7K (-43.1%) | Trimmed |
| 5 | Black Creek Investment Management Inc. | 1.1M | $194.3M | +26.8K (+2.5%) | Added |
| 6 | DIMENSIONAL FUND ADVISORS LP | 921.2K | $162.8M | +59.5K (+6.9%) | Added |
| 7 | Capital International Investors | 512.9K | $90.7M | +0 (+0.0%) | No change |
| 8 | JPMORGAN CHASE & CO | 516.4K | $89.8M | +448.8K (+664.1%) | Added |
| 9 | VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. | 429.5K | $75.9M | — | New |
| 10 | Invesco Ltd. | 326.4K | $57.7M | +11.2K (+3.6%) | Added |
| 11 | WELLS FARGO & COMPANY/MN | 315.1K | $55.7M | -6.8K (-2.1%) | Trimmed |
| 12 | NEUMEIER POMA INVESTMENT COUNSEL LLC | 253.1K | $44.7M | +230.8K (+1035.5%) | Added |
| 13 | Bank of New York Mellon Corp | 209.7K | $37.1M | +4.6K (+2.2%) | Added |
| 14 | DIAMOND HILL CAPITAL MANAGEMENT INC | 204.6K | $36.2M | -6.4K (-3.0%) | Trimmed |
| 15 | UBS Group AG | 195.7K | $34.6M | +112.5K (+135.1%) | Added |
| 16 | VANGUARD FIDUCIARY TRUST CO | 188.8K | $33.4M | — | New |
| 17 | Russell Investments Group, Ltd. | 152.0K | $26.9M | +34.5K (+29.3%) | Added |
| 18 | UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | 103.6K | $18.3M | +3.4K (+3.4%) | Added |
| 19 | Boston Partners | 100.5K | $17.9M | — | New |
| 20 | SEI INVESTMENTS CO | 93.7K | $16.6M | +5.2K (+5.9%) | Added |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
- 1
Revenue grew 9.5% but net income fell to $57.6M from $61.8M; what specific segments drove the 11% jump in SG&A to $222M?
- 2
Long-term debt more than doubled to $754M while you spent $127M on buybacks; why lever up at these rates rather than preserve flexibility?
- 3
Notes receivable totals $337M with $23M amortized this quarter—what's the realization risk and average payback period on these guaranteed compensation arrangements?
Refreshed when FCN files a new report · last from 2026-02-26
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