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FTI Consulting, Inc key statistics and ratios

In fiscal 2025, FTI Consulting, Inc had return on equity of 13.6% and a net margin of 7.1%. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Dec 20092010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMSept 2026
Net margin10.0%4.7%6.6%−2.3%−0.6%3.3%3.7%4.7%6.0%7.4%9.2%8.6%8.5%7.8%7.9%7.6%7.1%5.9%
Return on equity12.7%5.8%9.1%−3.4%−1.0%5.5%5.9%7.3%9.0%11.9%15.3%14.6%15.8%14.4%15.0%13.2%13.6%15.3%
Return on assets6.7%2.9%4.3%−1.6%−0.5%2.5%2.9%3.8%4.8%6.5%8.4%7.6%8.0%7.4%8.4%8.1%7.6%6.7%
Effective tax rate36.9%38.6%32.1%——42.0%37.3%33.1%−23.9%27.5%24.9%19.7%21.1%20.9%23.3%20.2%27.0%26.0%
R&D as % of revenue1.5%1.8%1.5%1.3%1.0%1.1%1.1%1.0%0.8%0.4%————————
SG&A as % of revenue24.6%24.3%23.8%24.0%23.9%24.7%24.3%24.1%23.9%23.0%21.4%19.8%19.4%21.2%21.5%22.2%21.1%22.1%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

4 of 7 checks passed · September 30, 2026
What it owns · $3.5bn
Short-term assets $1.5bnLonger-term assets $1.9bn
What it owes, and who funded it · $3.5bn
Short-term liabilities $900mLonger-term liabilities $1.2bnShareholders' equity $1.3bn
  • Short-term assets cover short-term liabilities $1.5bn of assets due within a year against $900m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.5bn short-term assets against $1.2bn of longer-dated liabilities.
  • More cash than debt $88m of cash against $851m of debt.
  • Debt below 40% of shareholders' equity Debt is 64% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 20% to 64% over five years.
  • A year's operating cash flow covers at least 20% of debt $392m of operating cash flow against $851m of debt.
  • Operating profit covers interest at least five times over Operating income of $352m against $39m of interest.

From FTI Consulting, Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

52 /100

Moderate moat

How hard FTI Consulting's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 11 / 20

    Net income has been a median 7.4% of total assets over 10 years.

  • Durability 9 / 20

    Operating margin has been a median 10.4%; its worst year was 4.8%.

  • Cash conversion 14 / 20

    Free cash flow was positive in 10 of 10 years, at a median 8.5% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 17.2% over five years; stock-based pay has been a median 0.9% of revenue.

AI disruption exposure: High. In this industry, the core product is information work that AI systems increasingly perform. The score above includes a 15-point deduction for that exposure (67 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: FCN vs NIQFCN vs ULSFCN vs TRUFCN vs VRSK

More: Research & Consulting Services stocks compared, Industrials sector, rankings of US companies

Figures from FTI Consulting, Inc's SEC filings (10-K and 10-Q), retrieved October 30, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to FTI Consulting, Inc.