Exponent
EXPO · Research & Consulting Services
$77.43
0.4%FTI Consulting
FCN · Research & Consulting Services
$157.24
0.2%The short version
- FTI Consulting is the larger business, with $3.8B of revenue in fiscal 2025 against $582M for Exponent, about 6.5 times as much.
- Exponent grew revenue faster (4.2%, against 2.4%).
- Exponent kept more of each dollar of sales as operating profit (20.6% operating margin, against 10.3% operating margin).
- Exponent turned more of its sales into free cash flow (21.0% FCF margin, against 2.5% FCF margin).
- Exponent earned a higher return on the capital invested in it (52.2%, against 16.6%).
- Investors pay more for each dollar of Exponent’s earnings: a P/E of 34.7x against 18.9x for FTI Consulting.
| Latest fiscal year | EXPO · FY25 | FCN · FY25 |
|---|---|---|
| Size | ||
| Market cap | $3.8B | $4.6B |
| Revenue | $582M | $3.8B |
| Free cash flow | $122M | $93.6M |
| Net income | $106M | $271M |
| Growth | ||
| Revenue growth | 4.2% | 2.4% |
| 5-year growth | 7.8% | 9.0% |
| Share count change | −0.6% | −8.3% |
| Profitability | ||
| Gross margin | — | 32.1% |
| Operating margin | 20.6% | 10.3% |
| Net margin | 18.2% | 7.2% |
| FCF margin | 21.0% | 2.5% |
| Return on capital | 52.2% | 16.6% |
| Return on equity | 26.1% | 13.6% |
| Balance sheet | ||
| Net debt | −$222M | $99.9M |
| Net debt / EBITDA | −1.7x | 0.2x |
| Dividends and buybacks | $158M | $859M |
| Valuation & quality | ||
| P/E | 34.7x | 18.9x |
| Piotroski F-score | 4 | 4 |
FY16
EXPO $315M
FCN $1.8B
FY17
EXPO $348M
FCN $1.8B
FY18
EXPO $380M
FCN $2.0B
FY19
EXPO $417M
FCN $2.4B
FY20
EXPO $400M
FCN $2.5B
FY21
EXPO $466M
FCN $2.8B
FY22
EXPO $513M
FCN $3.0B
FY23
EXPO $537M
FCN $3.5B
FY24
EXPO $559M
FCN $3.7B
FY25
EXPO $582M
FCN $3.8B
EXPO
FCN
FY16
EXPO 19.7%
FCN 7.9%
FY17
EXPO 20.7%
FCN 6.0%
FY18
EXPO 24.1%
FCN 11.1%
FY19
EXPO 20.4%
FCN 13.0%
FY20
EXPO 20.8%
FCN 11.5%
FY21
EXPO 23.4%
FCN 11.2%
FY22
EXPO 27.4%
FCN 10.0%
FY23
EXPO 20.7%
FCN 10.8%
FY24
EXPO 21.4%
FCN 9.4%
FY25
EXPO 20.6%
FCN 10.3%
EXPO
FCN
FY16
EXPO $52.6M
FCN $205M
FY17
EXPO $63.1M
FCN $116M
FY18
EXPO $74.9M
FCN $198M
FY19
EXPO $85.0M
FCN $176M
FY20
EXPO $98.3M
FCN $292M
FY21
EXPO $118M
FCN $287M
FY22
EXPO $81.8M
FCN $135M
FY23
EXPO $111M
FCN $175M
FY24
EXPO $138M
FCN $360M
FY25
EXPO $122M
FCN $93.6M
EXPO
FCN
FY16
EXPO 44.6%
FCN 6.7%
FY17
EXPO 37.5%
FCN 7.9%
FY18
EXPO 71.5%
FCN 12.1%
FY19
EXPO 60.1%
FCN 17.0%
FY20
EXPO 59.7%
FCN 16.3%
FY21
EXPO 73.5%
FCN 17.7%
FY22
EXPO 78.2%
FCN 16.6%
FY23
EXPO 50.1%
FCN 18.3%
FY24
EXPO 53.4%
FCN 17.1%
FY25
EXPO 52.2%
FCN 16.6%
EXPO
FCN
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.