Booz Allen Hamilton vs FTI Consulting
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KIRA’s take AI analyst
I put Booz Allen Hamilton and FTI Consulting side by side, using each one’s latest annual report. Here is what stands out:
- Booz Allen Hamilton is the larger business, with $11.2B of revenue in fiscal 2026 against $3.8B for FTI Consulting, about 3.0 times as much.
- FTI Consulting grew revenue faster (2.4%, against −6.4%).
- FTI Consulting kept more of each dollar of sales as operating profit (10.3% operating margin, against 9.2%).
- Booz Allen Hamilton turned more of its sales into free cash flow (8.5% FCF margin, against 2.5%).
- Booz Allen Hamilton earned a higher return on the capital invested in it (24.2%, against 16.6%).
- Investors pay more for each dollar of FTI Consulting’s earnings: a P/E of 19.4x against 12.9x for Booz Allen Hamilton.
Who comes out ahead
Of the 11 measures where higher (or lower) is clearly better, how many each company leads.
Booz Allen Hamilton
BAH
6/11
Gross marginNet marginFCF marginReturn on capitalReturn on equityPiotroski F-score
FTI Consulting
FCN
5/11
Revenue growth5-year growthOperating marginNet debt / EBITDAShare count change
Side by side
Best in the row
| Latest fiscal year | BAH FY26 | FCN FY25 |
|---|---|---|
| Size | ||
| Market cap | $10.0B | $4.7B |
| Revenue | $11.2B | $3.8B |
| Free cash flow | $951M | $93.6M |
| Net income | $851M | $271M |
| Growth | ||
| Revenue growth | −6.4% | 2.4% |
| 5-year growth | 7.4% | 9.0% |
| Share count change | −4.6% | −8.3% |
| Profitability | ||
| Gross margin | 52.7% | 32.1% |
| Operating margin | 9.2% | 10.3% |
| Net margin | 7.6% | 7.2% |
| FCF margin | 8.5% | 2.5% |
| Return on capital | 24.2% | 16.6% |
| Return on equity | 80.7% | 13.6% |
| Balance sheet | ||
| Net debt | $3.2B | $99.9M |
| Net debt / EBITDA | 2.7x | 0.2x |
| Dividends and buybacks | $874M | $859M |
| Valuation & quality | ||
| P/E | 12.9x | 19.4x |
| Piotroski F-score | 5 | 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.