Feed / FCN

FTI Consulting, Inc.

FCN

Industrials · 147.84 -1.6% today

Isolated · not yet confirmedMarket checked 11 Sept, 15:55 GMT-4

Market read

FTI Consulting, Inc.'s current read is isolated; its market group is not confirming.

The latest filing evidence is available. 0 of 18 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 0 directly disclosed connections are confirming.

What changed
  • Revenue increased 9.5% versus the comparable filing period.
  • Gross margin fell 1.0 percentage points.
Company-1.6% todayVolume comparison unavailable
Market group0 of 18 activeElectronics Supply Chain · unavailable
Disclosed network0 of 1 confirmingNo filing-linked name is confirming now
What would change this read
  • Interest expense rose to $18.1M for the six months ended June 30, 2026, driven by higher borrowings on the Revolving Facility and Incremental Term Loan.

Invalidation: The isolated read changes if FCN's group or a disclosed connection begins moving with it.

Watch this read

Research brief

The story so far

Industrials · Consulting Services

The latest filing evidence is available. 0 of 18 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 0 directly disclosed connections are confirming.

Evidence that supports
  • Revenue increased 9.5% versus the comparable filing period.
Evidence that challenges
  • Gross margin fell 1.0 percentage points.
  • Net margin fell 1.0 percentage points.
  • Operating cash flow covered only -5.38x net income.
What would clarify the read
  • Interest expense rose to $18.1M for the six months ended June 30, 2026, driven by higher borrowings on the Revolving Facility and Incremental Term Loan.

Company research

Understand the business, not just the ticker

As of Sep 12, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods9
Price observations328
Usable filing statements178
Verified relationships0
Evidence supporting the case
  • Capital investment and capacity has repeated favorable evidence across 5 filings.
  • Credit and interest rates has repeated favorable evidence across 5 filings.
  • Restructuring and cost reductions has repeated favorable evidence across 3 filings.
Evidence challenging the case

No qualifying adverse evidence was identified; that is not proof there is no downside.

Questions before a position

No credible peer-relative valuation comparison is available yet.

Longer-term price context

Price as of Sep 11, 2026

147.84
6m-9.0%12m-8.5%24m
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2021-12-31$2.8B+12.8%$6.65-4.9%
2022-12-31$3.0B+9.1%$6.58+1.3%
2023-12-31$3.5B+15.2%$7.71-0.4%
2024-12-31$3.7B+6.0%$7.81+0.6%
2025-12-31$3.8B+2.4%$8.24-8.3%

What management says matters

Persistent and emerging business drivers

Capital investment and capacitymixed · 5 filings
The increase in net cash used in investing activities was due to a $42.1 million payment for a tax equity investment, which was partially offset by a $13.3 million decrease in capital expenditures, primarily related to lower spend on leasehold improvements as…
10-Q · Jul 30, 2026
Credit and interest ratesmixed · 5 filings
The increase in net cash provided by financing activities was primarily due to receipt of $300.0 million in proceeds from the Incremental Term Loan, which was partially offset by a decrease in net borrowings of $115.0 million under our Revolving Credit Facili…
10-Q · Jul 30, 2026
Demand and volumemixed · 4 filings
Excluding pass-through revenues, revenues increased $21.4 million, or 12.9%, to $186.8 million, primarily due to higher demand for corporate reputation, financial communications and public affairs services.
10-Q · Jul 30, 2026
Restructuring and cost reductionspositive · 3 filings
28 Six Months Ended June 30, 2026 Compared to Six Months Ended June 30, 2025 Revenues increased $98.0 million, or 13.6%, to $820.9 million for the six months ended June 30, 2026, primarily due to higher demand and realized bill rates for our transformation, t…
10-Q · Jul 30, 2026

Valuation discipline

Descriptive valuation snapshot

Price/sales 1.3× · EV/sales 1.3×. Comparisons use only industry-matched filing peers.

Scenario scaffold

Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.

Price action

How the market is pricing the story

147.84-1.6% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for FCN. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Latest filing assessment · baseline

The latest filing shows material pressure

10-Q filed 2026-04-30 against the comparable filing from 2025-04-24.

cautious
OperationsmixedEvidence score +1
liquiditycautiousEvidence score -1
valuationmixed

What improved

  • Revenue increased 9.5% versus the comparable filing period.

What weakened

  • Gross margin fell 1.0 percentage points.
  • Net margin fell 1.0 percentage points.
  • Operating cash flow covered only -5.38x net income.

Filing receipts

The increase in net cash provided by financing activities was primarily due to receipt of $300.0 million in proceeds from the Incremental Term Loan and a decrease of $55.8 million in payments for common stock repurchases under the Repurchase Program, which was partially offset by a decrease in net borrowings of $70.0 million under our Revolving Credit Facility compared to the three months ended March 31, 2025.

Interest expense Interest expense increased $5.5 million to $6.4 million for the three months ended March 31, 2026 compared to $1.0 million for the three months ended March 31, 2025, primarily due to higher borrowings on our senior unsecured bank revolving credit facility (“ Revolving Credit Facility”).

The decrease in net income was primarily due to higher direct costs and selling, general and administrative (“SG&A”) expenses, including the impact of legal settlement gains recorded in the same quarter in the prior year which did not recur, as well as an increase in interest expense and a higher effective tax rate.

Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.

Business ecosystem

The relationships behind FCN

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Filing peers

Companies whose filings use similar operating language.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks 1 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

FCN is currently a Follower in the organic co-movement group Electronics Supply Chain. This group is discovered from market behaviour rather than assigned from an industry taxonomy. No verified filing-linked names are available yet.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.