Huron Consulting Group Inc.
HURN Nasdaq Services-Management Consulting Services Financials FY2016–FY2025
Revenue
Total sales reported in the income statement.
$1.7B
11.7%
vs prior year
Operating margin
Operating income as a share of revenue.
10.5%
0.6 pts
Net income
Profit after all expenses, interest and tax.
$105M
9.9%
Free cash flow
Cash from operations minus capital spending.
$183M
5.0%
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
13.7%
0.6 pts
Market cap
Last close times the latest diluted share count, so it is approximate.
—
P/E
Last close divided by diluted earnings per share over the last four quarters.
—
On $5.85 EPS (TTM)
What Huron Consulting Group Inc. does
No business description yet.
- Legal name
- Huron Consulting Group Inc.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 24, 2026
- Accession · CIK
- 0001628280-26-011093
0001289848
Revenue and margins
Huron Consulting Group Inc. had $1.7B of revenue in fiscal 2025, up 11.7% on the year before.
FY16
Revenue $798M
FY17
Revenue $808M
FY18
Revenue $878M
FY19
Revenue $965M
FY20
Revenue $871M
FY21
Revenue $927M
FY22
Revenue $1.2B
FY23
Revenue $1.4B
FY24
Revenue $1.5B
FY25
Revenue $1.7B
Q2 '23
Revenue $355M
Q3 '23
Revenue $367M
Q4 '23
Revenue $350M
Q1 '24
Revenue $363M
Q2 '24
Revenue $381M
Q3 '24
Revenue $378M
Q4 '24
Revenue $399M
Q1 '25
Revenue $404M
Q2 '25
Revenue $412M
Q3 '25
Revenue $441M
Q4 '25
Revenue $442M
Q1 '26
Revenue $452M
FY16
Gross 34.3%
Operating 9.3%
Net 4.7%
FCF 14.4%
FY17
Gross 33.0%
Operating −25.7%
Net −21.1%
FCF 9.3%
FY18
Gross 30.7%
Operating 5.9%
Net 1.6%
FCF 10.6%
FY19
Gross 30.6%
Operating 6.6%
Net 4.3%
FCF 12.3%
FY20
Gross 28.3%
Operating −3.3%
Net −2.7%
FCF 14.8%
FY21
Gross 28.6%
Operating 5.7%
Net 6.8%
FCF 0.8%
FY22
Gross —
Operating 8.6%
Net 6.5%
FCF 6.3%
FY23
Gross —
Operating 9.0%
Net 4.5%
FCF 9.0%
FY24
Gross —
Operating 11.1%
Net 7.7%
FCF 12.7%
FY25
Gross —
Operating 10.5%
Net 6.2%
FCF 10.8%
Gross
Operating
Net
FCF
Q2 '23
Gross —
Operating 11.2%
Net 7.0%
FCF 21.5%
Q3 '23
Gross —
Operating 10.2%
Net 5.9%
FCF 18.3%
Q4 '23
Gross —
Operating 8.5%
Net 0.8%
FCF 21.7%
Q1 '24
Gross —
Operating 5.5%
Net 5.0%
FCF −36.3%
Q2 '24
Gross —
Operating 15.6%
Net 9.8%
FCF 27.5%
Q3 '24
Gross —
Operating 11.2%
Net 7.2%
FCF 21.9%
Q4 '24
Gross —
Operating 11.8%
Net 8.5%
FCF 34.3%
Q1 '25
Gross —
Operating 8.1%
Net 6.1%
FCF −26.9%
Q2 '25
Gross —
Operating 11.1%
Net 4.7%
FCF 18.9%
Q3 '25
Gross —
Operating 11.3%
Net 6.9%
FCF 20.3%
Q4 '25
Gross —
Operating 11.4%
Net 6.9%
FCF 28.0%
Q1 '26
Gross —
Operating 8.1%
Net 5.1%
FCF −37.2%
Gross
Operating
Net
FCF
Net income and earnings per share
From fiscal 2016 to 2025, diluted EPS grew 14.3% a year. Loss periods are shown in red.
FY16
Net income $37.6M
FY17
Net income −$170M
FY18
Net income $13.6M
FY19
Net income $41.7M
FY20
Net income −$23.8M
FY21
Net income $63.0M
FY22
Net income $75.6M
FY23
Net income $62.5M
FY24
Net income $117M
FY25
Net income $105M
Q2 '23
Net income $24.7M
Q3 '23
Net income $21.5M
Q4 '23
Net income $2.8M
Q1 '24
Net income $18.0M
Q2 '24
Net income $37.5M
Q3 '24
Net income $27.1M
Q4 '24
Net income $34.0M
Q1 '25
Net income $24.5M
Q2 '25
Net income $19.4M
Q3 '25
Net income $30.4M
Q4 '25
Net income $30.7M
Q1 '26
Net income $23.2M
FY16
Diluted EPS $1.76
FY17
Diluted EPS −$7.93
FY18
Diluted EPS $0.62
FY19
Diluted EPS $1.85
FY20
Diluted EPS −$1.09
FY21
Diluted EPS $2.89
FY22
Diluted EPS $3.64
FY23
Diluted EPS $3.19
FY24
Diluted EPS $6.27
FY25
Diluted EPS $5.84
Q2 '23
Diluted EPS $1.27
Q3 '23
Diluted EPS $1.10
Q4 '23
Diluted EPS $0.14
Q1 '24
Diluted EPS $0.95
Q2 '24
Diluted EPS $2.03
Q3 '24
Diluted EPS $1.47
Q4 '24
Diluted EPS $1.82
Q1 '25
Diluted EPS $1.33
Q2 '25
Diluted EPS $1.09
Q3 '25
Diluted EPS $1.71
Q4 '25
Diluted EPS $1.71
Q1 '26
Diluted EPS $1.34
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY16
Return on capital 5.4%
Return on equity 5.8%
Return on assets 3.3%
FY17
Return on capital −19.8%
Return on equity −29.6%
Return on assets −15.5%
FY18
Return on capital 4.2%
Return on equity 2.6%
Return on assets 1.3%
FY19
Return on capital 6.5%
Return on equity 7.4%
Return on assets 3.9%
FY20
Return on capital −3.3%
Return on equity −4.2%
Return on assets −2.2%
FY21
Return on capital 5.3%
Return on equity 11.2%
Return on assets 5.8%
FY22
Return on capital 8.4%
Return on equity 13.4%
Return on assets 6.5%
FY23
Return on capital 11.1%
Return on equity 11.5%
Return on assets 5.1%
FY24
Return on capital 14.3%
Return on equity 21.3%
Return on assets 9.0%
FY25
Return on capital 13.7%
Return on equity 19.3%
Return on assets 7.3%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was $183M in fiscal 2025, 10.8% of revenue. Cash from operations minus capital spending.
FY16
Free cash flow $115M
FY17
Free cash flow $75.4M
FY18
Free cash flow $92.7M
FY19
Free cash flow $119M
FY20
Free cash flow $129M
FY21
Free cash flow $7.1M
FY22
Free cash flow $72.9M
FY23
Free cash flow $126M
FY24
Free cash flow $193M
FY25
Free cash flow $183M
Q2 '23
Free cash flow $76.5M
Q3 '23
Free cash flow $67.4M
Q4 '23
Free cash flow $76.1M
Q1 '24
Free cash flow −$132M
Q2 '24
Free cash flow $105M
Q3 '24
Free cash flow $82.8M
Q4 '24
Free cash flow $137M
Q1 '25
Free cash flow −$109M
Q2 '25
Free cash flow $78.0M
Q3 '25
Free cash flow $89.8M
Q4 '25
Free cash flow $124M
Q1 '26
Free cash flow −$168M
FY16
Cash from operations $129M
Capital spending $13.9M
FY17
Cash from operations $99.8M
Capital spending $24.4M
FY18
Cash from operations $102M
Capital spending $8.9M
FY19
Cash from operations $132M
Capital spending $13.2M
FY20
Cash from operations $137M
Capital spending $8.1M
FY21
Cash from operations $18.0M
Capital spending $10.9M
FY22
Cash from operations $85.4M
Capital spending $12.5M
FY23
Cash from operations $135M
Capital spending $9.4M
FY24
Cash from operations $201M
Capital spending $8.7M
FY25
Cash from operations $193M
Capital spending $10.4M
Cash from operations
Capital spending
Q2 '23
Cash from operations $78.2M
Capital spending $1.8M
Q3 '23
Cash from operations $68.8M
Capital spending $1.4M
Q4 '23
Cash from operations $80.4M
Capital spending $4.3M
Q1 '24
Cash from operations −$131M
Capital spending $1.2M
Q2 '24
Cash from operations $107M
Capital spending $2.5M
Q3 '24
Cash from operations $85.2M
Capital spending $2.4M
Q4 '24
Cash from operations $140M
Capital spending $2.6M
Q1 '25
Cash from operations −$107M
Capital spending $1.9M
Q2 '25
Cash from operations $80.0M
Capital spending $2.0M
Q3 '25
Cash from operations $93.8M
Capital spending $4.0M
Q4 '25
Cash from operations $126M
Capital spending $2.6M
Q1 '26
Cash from operations −$162M
Capital spending $5.7M
Cash from operations
Capital spending
Dividends, buybacks and share count
Huron Consulting Group Inc. returned $167M to shareholders in fiscal 2025, 91% of free cash flow. The diluted share count fell 3.3%.
FY16
Dividends —
Buybacks —
FY17
Dividends —
Buybacks —
FY18
Dividends —
Buybacks $0.0M
FY19
Dividends —
Buybacks $13.0M
FY20
Dividends —
Buybacks $27.1M
FY21
Dividends —
Buybacks $64.6M
FY22
Dividends —
Buybacks $120M
FY23
Dividends —
Buybacks $123M
FY24
Dividends —
Buybacks $123M
FY25
Dividends —
Buybacks $167M
Dividends
Buybacks
Q2 '23
Dividends —
Buybacks $15.2M
Q3 '23
Dividends —
Buybacks $28.5M
Q4 '23
Dividends —
Buybacks $33.9M
Q1 '24
Dividends —
Buybacks $61.0M
Q2 '24
Dividends —
Buybacks $36.3M
Q3 '24
Dividends —
Buybacks $7.3M
Q4 '24
Dividends —
Buybacks $18.5M
Q1 '25
Dividends —
Buybacks $65.3M
Q2 '25
Dividends —
Buybacks $69.1M
Q3 '25
Dividends —
Buybacks $18.7M
Q4 '25
Dividends —
Buybacks $13.6M
Q1 '26
Dividends —
Buybacks $153M
Dividends
Buybacks
FY16
Diluted shares 0.02B
FY17
Diluted shares 0.02B
FY18
Diluted shares 0.02B
FY19
Diluted shares 0.02B
FY20
Diluted shares 0.02B
FY21
Diluted shares 0.02B
FY22
Diluted shares 0.02B
FY23
Diluted shares 0.02B
FY24
Diluted shares 0.02B
FY25
Diluted shares 0.02B
Balance sheet
Cash, debt and the ratios that show how comfortably Huron Consulting Group Inc. can carry it.
FY16
Cash $17.0M
Debt $292M
FY17
Cash $16.9M
Debt $343M
FY18
Cash $33.1M
Debt $297M
FY19
Cash $11.6M
Debt $209M
FY20
Cash $67.2M
Debt $203M
FY21
Cash $20.8M
Debt $233M
FY22
Cash $11.8M
Debt $290M
FY23
Cash $12.1M
Debt $324M
FY24
Cash $21.9M
Debt $357M
FY25
Cash $24.5M
Debt $510M
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $20.8M | $11.8M | $12.1M | $21.9M | $24.5M |
| Debt incl. finance leases | $233M | $290M | $324M | $357M | $510M |
| Net debt / EBITDA | 2.7x | 2.2x | 2.1x | 1.7x | 2.3x |
| Debt / equity | 0.4x | 0.5x | 0.6x | 0.6x | 1.0x |
| Current ratio | 1.3x | 1.3x | 1.3x | 1.2x | 1.2x |
| Quick ratio | 1.3x | 1.3x | 1.3x | 1.2x | 1.2x |
| Total assets | $1.1B | $1.2B | $1.3B | $1.3B | $1.5B |
| Total liabilities | $547M | $647M | $729M | $782M | $998M |
| Shareholders' equity | $572M | $552M | $533M | $561M | $529M |
| Net debt (− = net cash) | $212M | $278M | $312M | $335M | $485M |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | ✓ | ✕ | ✓ | ✓ | ✕ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Cash from operations is positive | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Return on assets rose | — | ✕ | ✓ | ✓ | ✕ | ✓ | ✓ | ✕ | ✓ | ✕ |
| Cash from operations exceeds net income | ✓ | ✓ | ✓ | ✓ | ✓ | ✕ | ✓ | ✓ | ✓ | ✓ |
| Debt fell relative to assets | — | ✕ | ✓ | ✓ | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ |
| Current ratio rose | — | ✓ | ✕ | ✓ | ✓ | ✓ | ✓ | ✕ | ✕ | ✕ |
| Share count didn't rise | — | ✕ | ✕ | ✕ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Gross margin rose | — | ✕ | ✕ | ✕ | ✕ | ✓ | — | — | — | — |
| Revenue rose relative to assets | — | ✓ | ✓ | ✓ | ✕ | ✕ | ✓ | ✓ | ✓ | ✕ |
| F-score | — / 3 | 4 / 9 | 6 / 9 | 7 / 9 | 4 / 9 | 6 / 9 | 7 / 8 | 5 / 8 | 6 / 8 | 4 / 8 |
| Accruals ratio | −7.9% | −24.6% | −8.4% | −8.4% | −14.9% | 4.1% | −0.8% | −5.9% | −6.5% | −6.2% |
| Altman Z'' | 3.03 | 0.54 | 0.90 | 2.39 | 1.91 | 2.53 | 2.87 | 3.02 | 3.23 | 2.98 |
10 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $798M | $808M | $878M | $965M | $871M | $927M | $1.2B | $1.4B | $1.5B | $1.7B |
| Gross profit | $274M | $267M | $269M | $296M | $246M | $265M | — | — | — | — |
| Operating income | $74.2M | −$207M | $52.1M | $63.7M | −$28.9M | $52.8M | $99.8M | $125M | $169M | $179M |
| Pretax income | $59.2M | −$223M | $25.2M | $52.5M | −$33.9M | $80.0M | $109M | $83.9M | $154M | $135M |
| Income tax | $19.7M | −$52.0M | $11.3M | $10.5M | −$10.2M | $17.0M | $33.0M | $21.4M | $37.4M | $30.0M |
| Net income | $37.6M | −$170M | $13.6M | $41.7M | −$23.8M | $63.0M | $75.6M | $62.5M | $117M | $105M |
| Diluted EPS | $1.76 | −$7.93 | $0.62 | $1.85 | −$1.09 | $2.89 | $3.64 | $3.19 | $6.27 | $5.84 |
| Diluted shares | 0.02B | 0.02B | 0.02B | 0.02B | 0.02B | 0.02B | 0.02B | 0.02B | 0.02B | 0.02B |
| Cash flow | ||||||||||
| Cash from operations | $129M | $99.8M | $102M | $132M | $137M | $18.0M | $85.4M | $135M | $201M | $193M |
| Capital expenditure | $13.9M | $24.4M | $8.9M | $13.2M | $8.1M | $10.9M | $12.5M | $9.4M | $8.7M | $10.4M |
| Free cash flow | $115M | $75.4M | $92.7M | $119M | $129M | $7.1M | $72.9M | $126M | $193M | $183M |
| Depreciation and amortization | $46.8M | $50.1M | $39.3M | $34.4M | $30.2M | $26.0M | $27.4M | $24.9M | $25.3M | $32.4M |
| Stock-based compensation | $16.6M | $14.8M | $18.8M | $24.2M | $24.1M | $25.9M | $31.0M | $45.7M | $45.1M | $46.5M |
| Acquisitions | $69.1M | $107M | $0.2M | $2.5M | $8.7M | $44.8M | $3.4M | $1.6M | $49.5M | $112M |
| Share buybacks | — | — | $0.0M | $13.0M | $27.1M | $64.6M | $120M | $123M | $123M | $167M |
| Dividends and buybacks | — | — | $0.0M | $13.0M | $27.1M | $64.6M | $120M | $123M | $123M | $167M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $17.0M | $16.9M | $33.1M | $11.6M | $67.2M | $20.8M | $11.8M | $12.1M | $21.9M | $24.5M |
| Total debt | $292M | $343M | $297M | $209M | $203M | $233M | $290M | $324M | $357M | $510M |
| Current assets | $180M | $191M | $233M | $225M | $231M | $258M | $328M | $400M | $409M | $449M |
| Current liabilities | $136M | $139M | $418M | $205M | $187M | $205M | $246M | $303M | $339M | $383M |
| Property and equipment, net | $32.4M | $45.5M | $40.4M | $38.4M | $29.1M | $31.0M | $26.1M | $23.7M | $21.7M | $23.5M |
| Goodwill | $800M | $646M | $645M | $647M | $594M | $621M | $625M | $626M | $679M | $787M |
| Intangible assets | $81.3M | $72.3M | $47.9M | $31.6M | $20.5M | $31.9M | $23.4M | $18.1M | $26.1M | $72.9M |
| Total assets | $1.2B | $1.0B | $1.0B | $1.1B | $1.1B | $1.1B | $1.2B | $1.3B | $1.3B | $1.5B |
| Total liabilities | $505M | $534M | $509M | $519M | $499M | $547M | $647M | $729M | $782M | $998M |
| Shareholders' equity | $648M | $503M | $541M | $585M | $552M | $572M | $552M | $533M | $561M | $529M |
| Margins | ||||||||||
| Gross margin | 34.3% | 33.0% | 30.7% | 30.6% | 28.3% | 28.6% | — | — | — | — |
| Operating margin | 9.3% | −25.7% | 5.9% | 6.6% | −3.3% | 5.7% | 8.6% | 9.0% | 11.1% | 10.5% |
| EBITDA margin | 15.2% | −19.5% | 10.4% | 10.2% | 0.2% | 8.5% | 11.0% | 10.7% | 12.8% | 12.4% |
| Net margin | 4.7% | −21.1% | 1.6% | 4.3% | −2.7% | 6.8% | 6.5% | 4.5% | 7.7% | 6.2% |
| FCF margin | 14.4% | 9.3% | 10.6% | 12.3% | 14.8% | 0.8% | 6.3% | 9.0% | 12.7% | 10.8% |
| Returns | ||||||||||
| Return on capital | 5.4% | −19.8% | 4.2% | 6.5% | −3.3% | 5.3% | 8.4% | 11.1% | 14.3% | 13.7% |
| Return on capital employed | 7.3% | −23.1% | 8.3% | 7.1% | −3.3% | 5.8% | 10.5% | 13.1% | 16.8% | 15.6% |
| Return on equity | 5.8% | −29.6% | 2.6% | 7.4% | −4.2% | 11.2% | 13.4% | 11.5% | 21.3% | 19.3% |
| Return on assets | 3.3% | −15.5% | 1.3% | 3.9% | −2.2% | 5.8% | 6.5% | 5.1% | 9.0% | 7.3% |
| Growth | ||||||||||
| Revenue growth | — | 1.2% | 8.7% | 10.0% | −9.8% | 6.4% | 25.0% | 20.7% | 8.8% | 11.7% |
| Net income growth | — | −552.2% | — | 205.9% | −157.1% | — | 19.9% | −17.3% | 86.7% | −9.9% |
| EPS growth | — | −550.6% | — | 198.4% | −158.9% | — | 26.0% | −12.4% | 96.6% | −6.9% |
| FCF growth | — | −34.6% | 23.0% | 28.3% | 8.1% | −94.5% | 923.8% | 72.7% | 53.1% | −5.0% |
| Share count change | — | 0.1% | 2.9% | 2.0% | −2.8% | −0.3% | −4.9% | −5.5% | −5.0% | −3.3% |
| Financial health | ||||||||||
| Net debt / EBITDA | 2.3x | — | 2.9x | 2.0x | 99.3x | 2.7x | 2.2x | 2.1x | 1.7x | 2.3x |
| Debt / equity | 0.5x | 0.7x | 0.5x | 0.4x | 0.4x | 0.4x | 0.5x | 0.6x | 0.6x | 1.0x |
| Current ratio | 1.3x | 1.4x | 0.6x | 1.1x | 1.2x | 1.3x | 1.3x | 1.3x | 1.2x | 1.2x |
| Quick ratio | 1.3x | 1.4x | 0.6x | 1.1x | 1.2x | 1.3x | 1.3x | 1.3x | 1.2x | 1.2x |
| Capital allocation | ||||||||||
| Capex / revenue | 1.7% | 3.0% | 1.0% | 1.4% | 0.9% | 1.2% | 1.1% | 0.7% | 0.6% | 0.6% |
| Stock comp / revenue | 2.1% | 1.8% | 2.1% | 2.5% | 2.8% | 2.8% | 2.7% | 3.3% | 3.0% | 2.7% |
| Payouts / FCF | — | — | 0.0% | 10.9% | 21.1% | 908.0% | 165.3% | 97.6% | 63.8% | 91.1% |
| Quality scores | ||||||||||
| Piotroski F-score | — | 4.0 | 6.0 | 7.0 | 4.0 | 6.0 | 7.0 | 5.0 | 6.0 | 4.0 |
| Altman Z'' | 3.0 | 0.5 | 0.9 | 2.4 | 1.9 | 2.5 | 2.9 | 3.0 | 3.2 | 3.0 |
| Accruals ratio | −7.9% | −24.6% | −8.4% | −8.4% | −14.9% | 4.1% | −0.8% | −5.9% | −6.5% | −6.2% |
Source: SEC EDGAR XBRL filings (CIK 0001289848). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.