FCN FTI CONSULTING, INC

Overview and Growth

In fiscal 2025, FTI CONSULTING, INC recorded $3.79B of revenue, net income of $270.87M, and an operating cash inflow of $152.13M. Revenue of $3.79B sets the scale for evaluating how effectively sales translated into profit and cash during the year. The top line expanded 2.4% from $3.70B in fiscal 2024, increasing the company’s operating scale. Diluted earnings per share were $8.24, translating the period’s attributable earnings into the amount reported for each diluted share. Against diluted EPS of $7.81 in fiscal 2024, the current result was 5.5% higher. Revenue equaled 1.09x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

After reported cost of revenue, the company retained $1.22B as gross profit before recognizing operating expenses and other items. Gross profit represented 32.1% of revenue, showing how much of the top line remained after direct costs. Operations produced $389.08M of income after the reported operating expense base, before the remaining non-operating and tax effects. Operating margin measured 10.3%, showing the portion of revenue preserved after the full set of operating costs. The bottom-line result was net income of $270.87M, after the operating, financing, tax, and other items recognized for the period. Net margin was 7.1%, meaning that this portion of revenue remained as net income after all recognized expenses. The earnings statement records $371.01M of pretax income, the profit base against which the reported tax provision can be assessed. The pretax margin was 9.8%, relating income before taxes directly to revenue. Income tax expense totaled $100.14M, providing the reported tax component that separates pretax and after-tax earnings. Relative to pretax income, the tax provision measured 27.0%, quantifying the portion of pre-tax earnings paid in income tax.

Liquidity and Capital Structure

Total assets were $3.49B, supported by $1.76B of liabilities and $1.73B of shareholder equity. Current assets were $1.52B against $975.19M of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. At 1.56x, the current ratio shows that short-term assets were greater than short-term liabilities at period end. Reported cash and equivalents were $265.09M, separating immediately recognizable cash resources from the rest of the current-asset base. Cash and equivalents represented 27.2% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. Total debt was $365.00M, establishing the amount of borrowing carried within the company’s capital structure. Against book equity, debt measured 0.21x, placing the company’s financial leverage in clear balance-sheet terms. Debt represented 10.5% of total assets, placing borrowing in the context of the company’s full resource base. The liabilities-to-assets relationship was 50.3%, placing reported obligations against the full positive asset balance. Measured against total assets, cash and equivalents represented 7.6%, a balance-sheet composition measure rather than a liquidity forecast.

Cash Flow and Earnings Quality

Cash flow from operations was $152.13M, a reported cash inflow that can be compared directly with net income and capital spending. Against net income, operating cash flow measured 0.56x, showing the relationship between accrual earnings and operating cash. Capital spending was $58.53M, absorbing part of the cash generated from operations before free cash flow. Relative to operating cash flow, capital expenditures measured 38.5%, connecting investment intensity with the company’s cash-generation base. Free cash flow came to $93.60M, leaving a positive amount after capital expenditures. The free-cash-flow margin was 2.5%, measuring cash remaining after capital spending against revenue. Measured against total assets, free cash flow represented 2.7%, showing the cash productivity of the company’s assets.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Sep 24, 2026.