Exponent vs FTI Consulting
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KIRA’s take AI analyst
I put Exponent and FTI Consulting 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 $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%).
- Exponent turned more of its sales into free cash flow (21.0% FCF margin, against 2.5%).
- 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 34.8x 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.
Exponent
EXPO
7/10
Revenue growthOperating marginNet marginFCF marginReturn on capitalReturn on equityNet debt / EBITDA
FTI Consulting
FCN
2/10
5-year growthShare count change
Side by side
Best in the row
| Latest fiscal year | EXPO FY25 | FCN FY25 |
|---|---|---|
| Size | ||
| Market cap | $3.8B | $4.7B |
| 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 | 34.8x | 19.4x |
| Piotroski F-score | 4 | 4 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.