FTI Consulting vs TransUnion

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KIRA’s take AI analyst

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

TransUnion is the larger business, with $4.6B of revenue in fiscal 2025 against $3.8B for FTI Consulting.
TransUnion grew revenue faster (9.4%, against 2.4%).
TransUnion kept more of each dollar of sales as operating profit (18.7% operating margin, against 10.3%).
TransUnion turned more of its sales into free cash flow (14.5% FCF margin, against 2.5%).
FTI Consulting earned a higher return on the capital invested in it (16.6%, against 7.1%).
Investors pay more for each dollar of TransUnion’s earnings: a P/E of 22.1x 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

4/10

Return on capitalReturn on equityNet debt / EBITDAShare count change

TransUnion

TRU

6/10

Revenue growth5-year growthOperating marginNet marginFCF marginPiotroski F-score

Side by side

Best in the row

Latest fiscal year	FCN FY25	TRU FY25
Size
Market cap	$4.7B	$15.5B
Revenue	$3.8B	$4.6B
Free cash flow	$93.6M	$662M
Net income	$271M	$455M
Growth
Revenue growth	2.4%	9.4%
5-year growth	9.0%	12.6%
Share count change	−8.3%	−0.1%
Profitability
Gross margin	32.1%	—
Operating margin	10.3%	18.7%
Net margin	7.2%	10.0%
FCF margin	2.5%	14.5%
Return on capital	16.6%	7.1%
Return on equity	13.6%	10.5%
Balance sheet
Net debt	$99.9M	$4.2B
Net debt / EBITDA	0.2x	3.0x
Dividends and buybacks	$859M	$393M
Valuation & quality
P/E	19.4x	22.1x
Piotroski F-score	4	8

Ten years

Revenue

FY16

FCN $1.8B

TRU $1.7B

FY17

FCN $1.8B

TRU $1.9B

FY18

FCN $2.0B

TRU $2.3B

FY19

FCN $2.4B

TRU $2.5B

FY20

FCN $2.5B

TRU $2.5B

FY21

FCN $2.8B

TRU $3.0B

FY22

FCN $3.0B

TRU $3.7B

FY23

FCN $3.5B

TRU $3.8B

FY24

FCN $3.7B

TRU $4.2B

FY25

FCN $3.8B

TRU $4.6B

FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25

FCN TRU

Operating margin

FY16

FCN 7.9%

TRU 17.6%

FY17

FCN 6.0%

TRU 24.0%

FY18

FCN 11.1%

TRU 22.1%

FY19

FCN 13.0%

TRU 22.0%

FY20

FCN 11.5%

TRU 19.8%

FY21

FCN 11.2%

TRU 22.0%

FY22

FCN 10.0%

TRU 16.9%

FY23

FCN 10.8%

TRU 3.4%

FY24

FCN 9.4%

TRU 15.9%

FY25

FCN 10.3%

TRU 18.7%

FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25

FCN TRU

Free cash flow

FY16

FCN $205M

TRU $266M

FY17

FCN $116M

TRU $331M

FY18

FCN $198M

TRU $376M

FY19

FCN $176M

TRU $589M

FY20

FCN $292M

TRU $582M

FY21

FCN $287M

TRU $584M

FY22

FCN $135M

TRU −$1.0M

FY23

FCN $175M

TRU $335M

FY24

FCN $360M

TRU $517M

FY25

FCN $93.6M

TRU $662M

FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25

FCN TRU

Return on capital

FY16

FCN 6.7%

TRU 5.4%

FY17

FCN 7.9%

TRU 11.9%

FY18

FCN 12.1%

TRU 8.6%

FY19

FCN 17.0%

TRU 7.6%

FY20

FCN 16.3%

TRU 6.9%

FY21

FCN 17.7%

TRU 6.8%

FY22

FCN 16.6%

TRU 4.8%

FY23

FCN 18.3%

TRU 1.1%

FY24

FCN 17.1%

TRU 5.7%

FY25

FCN 16.6%

TRU 7.1%

FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25

FCN TRU

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.