Latest Ratios: P/E Ratio 18.9x · EV/EBITDA 10.8x · ROE 13.6%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $4.7B | $5.6B | $6.9B | $7.1B | $5.7B | $5.4B | $4.2B | $4.2B | $2.6B | $1.7B | $1.9B |
| Enterprise Value | $5.0B | $5.9B | $6.4B | $7.1B | $5.8B | $5.5B | $4.3B | $4.3B | $2.5B | $1.9B | $2.0B |
| P/E Ratio → | 18.89 | 20.73 | 24.47 | 25.83 | 24.13 | 23.07 | 19.70 | 19.45 | 16.96 | 15.62 | 21.99 |
| P/S Ratio | 1.24 | 1.48 | 1.85 | 2.03 | 1.88 | 1.95 | 1.69 | 1.79 | 1.26 | 0.93 | 1.04 |
| P/B Ratio | 2.95 | 3.24 | 3.03 | 3.58 | 3.38 | 3.42 | 2.96 | 2.83 | 1.89 | 1.41 | 1.56 |
| P/FCF | 29.95 | 35.87 | 17.23 | 40.57 | 41.94 | 18.90 | 14.20 | 23.95 | 12.87 | 14.56 | 9.19 |
| P/OCF | 30.82 | 36.92 | 17.34 | 31.63 | 30.10 | 15.25 | 12.69 | 19.36 | 11.07 | 11.41 | 8.05 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.57 | 1.74 | 2.02 | 1.90 | 1.98 | 1.77 | 1.84 | 1.24 | 1.05 | 1.12 |
| EV / EBITDA | 10.81 | 12.82 | 16.27 | 16.60 | 16.48 | 15.37 | 13.34 | 12.61 | 9.44 | 12.56 | 10.62 |
| EV / EBIT | 12.10 | 15.14 | 17.98 | 18.93 | 18.71 | 17.25 | 15.40 | 14.09 | 10.67 | 16.81 | 13.30 |
| EV / FCF | — | 37.94 | 16.17 | 40.31 | 42.51 | 19.14 | 14.87 | 24.62 | 12.64 | 16.35 | 9.92 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 32.1% | 32.1% | 32.0% | 32.5% | 31.8% | 31.0% | 32.0% | 34.8% | 34.5% | 32.8% | 33.1% |
| Operating Margin | 10.9% | 10.9% | 9.4% | 10.8% | 10.0% | 11.2% | 11.5% | 13.0% | 11.1% | 6.0% | 7.9% |
| Net Profit Margin | 7.1% | 7.1% | 7.6% | 7.9% | 7.8% | 8.5% | 8.6% | 9.2% | 7.4% | 6.0% | 4.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 13.6% | 13.6% | 13.2% | 15.0% | 14.4% | 15.8% | 14.6% | 15.3% | 11.9% | 9.0% | 7.3% |
| ROA | 7.6% | 7.6% | 8.1% | 8.4% | 7.4% | 8.0% | 7.6% | 8.4% | 6.5% | 4.8% | 3.8% |
| ROIC | 15.9% | 15.9% | 13.8% | 15.3% | 13.4% | 14.4% | 13.2% | 15.8% | 12.6% | 5.9% | 7.5% |
| ROCE | 16.0% | 16.0% | 13.6% | 15.4% | 12.5% | 13.9% | 13.2% | 15.0% | 12.1% | 5.9% | 7.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.34 | 0.34 | 0.11 | 0.13 | 0.34 | 0.36 | 0.35 | 0.33 | 0.20 | 0.33 | 0.30 |
| Debt / EBITDA | 1.27 | 1.27 | 0.61 | 0.61 | 1.63 | 1.58 | 1.51 | 1.42 | 1.00 | 2.63 | 1.91 |
| Net Debt / Equity | — | 0.19 | -0.19 | -0.02 | 0.05 | 0.04 | 0.14 | 0.08 | -0.03 | 0.17 | 0.12 |
| Net Debt / EBITDA | 0.70 | 0.70 | -1.06 | -0.11 | 0.22 | 0.19 | 0.60 | 0.34 | -0.17 | 1.37 | 0.78 |
| Debt / FCF | — | 2.07 | -1.05 | -0.26 | 0.57 | 0.24 | 0.67 | 0.67 | -0.23 | 1.78 | 0.73 |
| Interest Coverage | 18.34 | 18.34 | 51.46 | 26.01 | 30.64 | 15.68 | 14.25 | 16.02 | 8.65 | 4.44 | 6.15 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.56 | 1.56 | 1.95 | 1.74 | 1.96 | 1.91 | 1.69 | 1.92 | 2.00 | 1.94 | 2.07 |
| Quick Ratio | 1.56 | 1.56 | 1.95 | 1.74 | 1.96 | 1.91 | 1.69 | 1.85 | 1.89 | 1.82 | 1.94 |
| Cash Ratio | 0.27 | 0.27 | 0.71 | 0.37 | 0.64 | 0.69 | 0.44 | 0.60 | 0.65 | 0.46 | 0.57 |
| Asset Turnover | — | 1.09 | 1.03 | 1.05 | 0.93 | 0.90 | 0.89 | 0.85 | 0.85 | 0.80 | 0.81 |
| Inventory Turnover | — | — | — | — | — | — | — | 32.04 | 24.28 | 25.09 | 25.47 |
| Days Sales Outstanding | — | 108.43 | 105.76 | 120.11 | 112.60 | 104.08 | 112.25 | 114.28 | 162.54 | 112.21 | 104.73 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.3% | 4.8% | 4.1% | 3.9% | 4.1% | 4.3% | 5.1% | 5.1% | 5.9% | 6.4% | 4.5% |
| FCF Yield | 3.3% | 2.8% | 5.8% | 2.5% | 2.4% | 5.3% | 7.0% | 4.2% | 7.8% | 6.9% | 10.9% |
| Buyback Yield | 18.3% | 15.3% | 0.1% | 0.3% | 1.5% | 0.9% | 8.5% | 2.5% | 2.2% | 10.0% | 1.1% |
| Total Shareholder Yield | 18.3% | 15.3% | 0.1% | 0.3% | 1.5% | 0.9% | 8.5% | 2.5% | 2.2% | 10.0% | 1.1% |
| Shares Outstanding | — | $33M | $36M | $36M | $36M | $35M | $37M | $38M | $38M | $39M | $42M |
Working capital and utilization
According to current market data, FCN trades at a forward P/E of 16.32, which, when compared to peers like CRA International, suggests investors are discounting the firm's earnings potential due to the inherent volatility of its project-based revenue model and the unpredictable nature of restructuring mandates.
The current valuation multiple appears to reflect a cautious outlook on the firm's ability to sustain margins during periods of lower utilization. Investors should monitor whether the PEG ratio of 2.36 indicates that the market is overpaying for growth that may be more cyclical than structural in nature.
Based on reported figures, FCN's ROIC has fluctuated between 2.0% and 4.2% over the last ten quarters, a trend that suggests the firm is struggling to generate high returns on its invested capital base, which is heavily weighted toward goodwill from past acquisitions.
The relatively low ROIC compared to peers like CRA International suggests that FCN's acquisition-led growth strategy may be diluting overall capital efficiency. This warrants further investigation into whether the firm can improve its return profile without relying on further capital-intensive expansion.
As reported in financial statements, FCN's DSO has remained elevated, frequently exceeding 110 days, which highlights the significant friction in converting billable hours into cash within the complex, litigation-heavy environments that define the firm's primary revenue-generating segments.
The persistent length of the collection cycle suggests that FCN carries substantial credit risk related to its client base, which is typical for firms involved in bankruptcy and forensic work. This inefficiency in working capital management forces the firm to maintain higher liquidity buffers than would otherwise be necessary.
According to recent SEC filings, FCN maintains a debt-to-equity ratio of 0.13 as of 2026Q1, a figure that underscores a disciplined approach to capital structure and provides the firm with significant financial flexibility to navigate potential market dislocations or pursue opportunistic talent acquisitions.
The low leverage profile is a key defensive characteristic, particularly given the volatility in operating cash flows observed in recent quarters. This balance sheet strength appears to be a deliberate management choice to mitigate the risks associated with the firm's high fixed-cost base.
The P/E ratio is frequently misapplied to FCN because it fails to account for the lumpy nature of success fees and the significant non-cash stock-based compensation expenses that distort reported earnings, often leading to a misleading assessment of the firm's true underlying cash-generating capacity.
Analysts should instead focus on EV/EBITDA or free cash flow metrics to better normalize for these accounting distortions. Relying solely on P/E may obscure the firm's actual operational performance and its ability to convert billable hours into sustainable shareholder value.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying FCN stock.
FTI Consulting, Inc.'s current P/E ratio is 18.9x. The historical average is 20.9x. This places it at the 30th percentile of its historical range.
FTI Consulting, Inc.'s current EV/EBITDA is 10.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.3x.
FTI Consulting, Inc.'s return on equity (ROE) is 13.6%. The historical average is 11.2%.
Based on historical data, FTI Consulting, Inc. is trading at a P/E of 18.9x. This is at the 30th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
FTI Consulting, Inc. has 32.1% gross margin and 10.9% operating margin. Operating margin between 10-20% is typical for established companies.
FTI Consulting, Inc.'s Debt/EBITDA ratio is 1.3x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.