FTI Consulting vs Verisk Analytics

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KIRA’s take AI analyst

I put FTI Consulting and Verisk Analytics side by side, using each one’s latest annual report. Here is what stands out:

FTI Consulting is the larger business, with $3.8B of revenue in fiscal 2025 against $3.1B for Verisk Analytics.
Verisk Analytics grew revenue faster (6.6%, against 2.4%).
Verisk Analytics kept more of each dollar of sales as operating profit (43.7% operating margin, against 10.3%).
Verisk Analytics turned more of its sales into free cash flow (38.8% FCF margin, against 2.5%).
Verisk Analytics earned a higher return on the capital invested in it (35.5%, against 16.6%).
Investors pay more for each dollar of Verisk Analytics’s earnings: a P/E of 29.9x against 19.4x for FTI Consulting.

Who comes out ahead

Of the 10 measures where higher (or lower) is clearly better, how many each company leads.

FTI Consulting

FCN

3/10

5-year growthNet debt / EBITDAShare count change

Verisk Analytics

VRSK

7/10

Revenue growthGross marginOperating marginNet marginFCF marginReturn on capitalPiotroski F-score

Side by side

Best in the row

Latest fiscal year	FCN FY25	VRSK FY25
Size
Market cap	$4.7B	$26.5B
Revenue	$3.8B	$3.1B
Free cash flow	$93.6M	$1.2B
Net income	$271M	$908M
Growth
Revenue growth	2.4%	6.6%
5-year growth	9.0%	6.3%
Share count change	−8.3%	−1.9%
Profitability
Gross margin	32.1%	69.9%
Operating margin	10.3%	43.7%
Net margin	7.2%	29.6%
FCF margin	2.5%	38.8%
Return on capital	16.6%	35.5%
Return on equity	13.6%	—
Balance sheet
Net debt	$99.9M	$2.6B
Net debt / EBITDA	0.2x	1.6x
Dividends and buybacks	$859M	$875M
Valuation & quality
P/E	19.4x	29.9x
Piotroski F-score	4	7

Ten years

Revenue

FY16

FCN $1.8B

VRSK $2.0B

FY17

FCN $1.8B

VRSK $2.1B

FY18

FCN $2.0B

VRSK $2.4B

FY19

FCN $2.4B

VRSK $2.6B

FY20

FCN $2.5B

VRSK $2.3B

FY21

FCN $2.8B

VRSK $2.5B

FY22

FCN $3.0B

VRSK $2.5B

FY23

FCN $3.5B

VRSK $2.7B

FY24

FCN $3.7B

VRSK $2.9B

FY25

FCN $3.8B

VRSK $3.1B

FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25

FCN VRSK

Operating margin

FY16

FCN 7.9%

VRSK 38.5%

FY17

FCN 6.0%

VRSK 37.4%

FY18

FCN 11.1%

VRSK 34.8%

FY19

FCN 13.0%

VRSK 26.7%

FY20

FCN 11.5%

VRSK 42.1%

FY21

FCN 11.2%

VRSK 37.0%

FY22

FCN 10.0%

VRSK 56.3%

FY23

FCN 10.8%

VRSK 42.2%

FY24

FCN 9.4%

VRSK 43.5%

FY25

FCN 10.3%

VRSK 43.7%

FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25

FCN VRSK

Free cash flow

FY16

FCN $205M

VRSK $421M

FY17

FCN $116M

VRSK $560M

FY18

FCN $198M

VRSK $703M

FY19

FCN $176M

VRSK $740M

FY20

FCN $292M

VRSK $821M

FY21

FCN $287M

VRSK $887M

FY22

FCN $135M

VRSK $784M

FY23

FCN $175M

VRSK $831M

FY24

FCN $360M

VRSK $920M

FY25

FCN $93.6M

VRSK $1.2B

FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25

FCN VRSK

Return on capital

FY16

FCN 6.7%

VRSK 13.2%

FY17

FCN 7.9%

VRSK 15.3%

FY18

FCN 12.1%

VRSK 14.6%

FY19

FCN 17.0%

VRSK 11.1%

FY20

FCN 16.3%

VRSK 13.9%

FY21

FCN 17.7%

VRSK 11.9%

FY22

FCN 16.6%

VRSK 20.2%

FY23

FCN 18.3%

VRSK 20.3%

FY24

FCN 17.1%

VRSK 33.0%

FY25

FCN 16.6%

VRSK 35.5%

FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25

FCN VRSK

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.