The case for & against
Bull & Bear analysis
Bearish
FTI Consulting, Inc. (NYSE: FCN) is a prominent global business advisory firm specializing in various consulting services including corporate finance, economic consulting, forensic and litigation support, and strategic communications. The firm operates in high-demand sectors, significantly during times of economic uncertainty and regulatory changes, leveraging its expertise to assist clients in navigating complex challenges. Notably, its subsidiary Compass Lexecon has been recognized as a leading economic consulting firm, enhancing FTI's reputation in the industry.
Bull says
- ↑FY25 revenue $3.79B (+2.4% YoY); Q4 rev $990.7M (+10.7% YoY)
- ↑Corporate finance & restructuring segment at $423.2M rev (+26.1% YoY)
- ↑Recruited 85 senior specialists in 2025 to boost service capacity
- ↑Repurchased 5.3M shares for $858.6M; $491.8M repurchase capacity left
- ↑Integrating AI across services to enhance crisis and compliance offerings
- ↑Strong balance sheet with high earnings yield, strong liquidity, low leverage
Bear says
- ↓Q4 Adj. EBITDA fell to $104.5M as SG&A rose to $230.7M
- ↓Economic consulting revenues dropped 14.5% YoY on weak antitrust demand
- ↓GAAP EPS guidance cut to $0.87–$0.93 due to legal expense headwinds
- ↓SG&A growth outpaces revenue, threatening long-term margin sustainability
- ↓Negative profitability and momentum factors raise return and price risks
- ↓Revenue swings risk as legacy work runs off before new mandates ramp
Investment themes with FCN
Buybacks↓ -0.29%
Companies repurchasing their own shares
C · JCI · WFC
Earnings Call · Q2 2025 · Mgmt. Guidance
Updated 08-14-2026neutral
Transcript signals
Bull points
- Notably, in corporate finance and restructuring and strategic communication, we set new records for revenues and adjusted EBITDA this quarter.
- In corporate finance and restructuring, record revenue of $379.2 million increased 9%.
- Record adjusted segment EBITDA of $81.7 million or .5% of segment revenue compared to $66.5 million or .1% of segment revenues in the prior year quarter.
Bear points
- Earnings per share of $2.13 compared to $2.34 in the prior year quarter and $1.74 in Q1 of 2025.
- Net income of $71.7 million compared to $83.9 million in the prior year quarter.
- Our economic consulting segments revenues of $191.7 million decrease 17%.
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