“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 ↗
FTI Consulting, Inc.
FCN
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.
- Revenue increased 9.5% versus the comparable filing period.
- Gross margin fell 1.0 percentage points.
- 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.
Research brief
The story so far
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.
- Revenue increased 9.5% versus the comparable filing period.
- Gross margin fell 1.0 percentage points.
- Net margin fell 1.0 percentage points.
- Operating cash flow covered only -5.38x net income.
- 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
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
- 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.
No qualifying adverse evidence was identified; that is not proof there is no downside.
No credible peer-relative valuation comparison is available yet.
Price as of Sep 11, 2026
147.84Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
Persistent and emerging business drivers
“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 ↗
“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 ↗
“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.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
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.
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.