# FTI Consulting, Inc. (FCN)

> Source: Nexqual · https://nexqual.com/FCN · data as of 2026-10-23 20:00 UTC · cite as "Nexqual, FTI Consulting, Inc. (FCN), nexqual.com/FCN" · informational, not investment advice.

**Price:** USD 157.24 (-0.22% on the day) · last close of Oct 23, 2026; US market closed, not a live price. Prev close 157.59 · day 154.58–158.28 · 52w 129.12–189.3 · market cap $4.34B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $3.92B, net income $253M (6.4% margin), free cash flow $359M (SEC filings).
- Valuation: P/E 17.2x (avg 23.7x at the last 3 fiscal year-ends).
- 1 of 80 tracked superinvestors hold FCN (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 1 Form 4 filings, $135K; 1 not under a Rule 10b5-1 plan ($135K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 3 Form 4 filings, $2.1M; 1 by opportunistic insiders, 0 by routine insiders.
- Total return with dividends: 1Y -0.4% vs S&P 500 +13.4%; 5Y +9.3% vs S&P 500 +76.9%.
- Next earnings: 2026-10-29, EPS estimate USD 2.74, revenue estimate $1.01B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $2.78B | $3.03B | $3.49B | $3.70B | $3.79B | $3.92B |
| Gross profit | $861M | $963M | $1.14B | $1.18B | $1.22B | — |
| Operating income | $312M | $304M | $378M | $347M | $389M | $380M |
| Net income | $235M | $236M | $275M | $280M | $271M | $253M |
| EPS (diluted) | $6.65 | $6.58 | $7.71 | $7.81 | $8.24 | — |
| Free cash flow | $287M | $135M | $175M | $360M | $93.6M | $359M |
| Gross margin | 31.0% | 31.8% | 32.5% | 32.0% | 32.1% | — |
| Operating margin | 11.2% | 10.0% | 10.8% | 9.4% | 10.3% | 9.7% |
| Net margin | 8.5% | 7.8% | 7.9% | 7.6% | 7.1% | 6.4% |
| Revenue growth | +12.8% | +9.1% | +15.2% | +6.0% | +2.4% | — |
| Cash + short-term investments | $494M | $492M | $329M | $660M | — | — |
| Total debt | $297M | $315M | $0K | $0K | $365M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 17.2x · P/S 1.1x · P/FCF 12.1x · P/B 3.3x · FCF yield 8.26% · Earnings yield 5.82% · Buyback yield (TTM) 19.39%
P/E at fiscal year-ends: Dec 2025 20.7x, Dec 2024 24.5x, Dec 2023 25.8x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold FCN. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Torray Funds |  | 0.27% | $2.0M | Added +4.4% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 1 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-11 | Boglioli Elsy Lisa | Director | 900 | $135K | 16.9% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
3 purchases, $2.1M. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-05-13 | Linton Paul Alderman | Chief Strategy/Transf. Officer | 2,400 | $346K | 144.04 | Too little history (no open-market trades in 2025) |
| 2026-05-13 | Gunby Steven Henry | CEO, Chairman and President | 10,000 | $1.4M | 144.17 | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-05-13 | Nam Eun | Chief Financial Officer | 2,000 | $289K | 144.59 | Too little history (no open-market trades in 2023–2025) |

## Analysts
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-23 | Truist Securities | Target lowered | Hold | $180 → $158 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-24) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -0.4% | +9.3% |
| S&P 500 (SPY) | +13.4% | +76.9% |
| Per year | -0.4% | +1.8% |
| Volatility (annualized) | 31.6% | 28.0% |
| Max drawdown | -30.3% (Apr 2026→Sep 2026) | -41.2% (Oct 2024→Sep 2026) |

## Peers (Consulting Services)
HURN (Huron Consulting Group Inc.) USD 195.69 +1.21% · BAH (Booz Allen Hamilton Holding Cor) USD 78.32 -0.32% · ICFI (ICF International, Inc.) USD 94.4 +1.15% · CRAI (CRA International,Inc.) USD 200.14 -0.40% · EFX (Equifax, Inc.) USD 182.36 -2.55% · VRSK (Verisk Analytics, Inc.) USD 195.88 -3.66%

## More
Full page: https://nexqual.com/FCN · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Corporate Finance | $411.4M | 41.4% | +8.5% |
| FLC | $194.3M | 19.6% | +4.1% |
| Economic Consulting | $188.8M | 19.0% | -1.5% |
| Strategic Communications | $100.0M | 10.1% | -2.6% |
| Technology | $99.0M | 10.0% | +18.4% |
| Total revenue | $993.5M | 100% | — |

## Revenue by region (fiscal year ended 2025-12-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $2.39B | 63.0% | +0.7% |
| All Other Countries | $888.4M | 23.4% | +5.2% |
| United Kingdom | $515.1M | 13.6% | +6.1% |
| Total revenue | $3.79B | 100% | — |

## Company outlook (8-K filed 2026-07-31)

- "Guidance, Updates EPS Guidance Range to Between $8.70 and $9.30 and Introduces Adjusted EPS Guidance Range of Between $9.10 and $9.70 Washington, D.C., July 30, 2026 — FTI Consulting, Inc."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $2.74 | $2.72 | +0.7% | $1.01B | 3 |
| Next quarter (ends 2026-12-31) | $2.49 | $2.40 | +3.9% | $1.01B | 3 |
| Current fiscal year (ends 2026-12-31) | $9.27 | $9.27 | +0.1% | $4.00B | 3 |
| Next fiscal year (ends 2027-12-31) | $10.87 | $11.16 | -2.7% | $4.27B | 3 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-10-29): ±9.6%; last 8 reports averaged ±3%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 27 | 43.6% | ±9.6% |
| 2026-12-18 | 55 | 40.2% | ±12.5% |
| 2027-03-19 | 146 | 40.0% | ±20.1% |
| 2027-06-17 | 236 | 39.0% | ±24.8% |