FTI Consulting (FCN)
NYSEIndustrialsConsulting ServicesSnapshot 2026-09-04
$151.70-1.08%
Close 2026-09-04 · 1-day change
NYSEIndustrialsConsulting ServicesSnapshot 2026-09-04
Broken: Recent financial performance freshly dropped to the bottom half of its industry.
FTI Consulting grows revenue about 7.5% a year, aiming for $3.94 to $4.10 billion in 2026. Earnings per share are guided between $8.90 and $9.60, showing steady profit growth. The company buys back shares actively and increased its credit line to support this. These moves show strong capital discipline and growth potential.
Recent earnings missed expectations and guidance is soft, signaling possible profit pressure. The stock is down 15% from its high, reflecting market doubts. Management has been volatile, and capital allocation risks remain with increased debt. Growth and earnings could fall short of targets.
The price is about 24% below our fair value near $211, reflecting cautious sentiment. Analysts expect roughly 7.5% revenue growth, which aligns with management guidance. Our view is that the market fairly prices in current growth but not upside from capital allocation or margin improvement.
Breaks if: No share repurchases or credit facility reduced below $900M
Continue disciplined capital allocation with active share repurchase program and enhanced credit facility for financial flexibility.
This is not a price target or investment advice.
A long-form read on the 1–3 year hold thesis. It updates when the weekly evidence changes.
This investment represents a turnaround opportunity in the Industrials sector. The current thesis state is weakened due to recent performance trends, but management is focused on reaffirming guidance and disciplined capital allocation.
The market currently prices FCN as cheap compared to its peers, with an expectations gap indicating that investors are not anticipating strong performance. The valuation reflects a low level of fragility, suggesting that the market is not fully accounting for potential execution risks.
Management has shown a consistent ability to reaffirm revenue and EPS guidance, which supports a stable outlook in the near term. However, the recent financial performance has shifted from the top half to the bottom half of its industry, indicating potential challenges ahead.
The thesis hinges on the ability of sector bellwethers to maintain or improve their earnings guidance. Additionally, any cuts to FCN's guidance could lead to significant negative reactions from the market.
The most important moves since the prior daily snapshot.
Yes, our read has weakened. Recent financial performance dropped to the bottom half of its industry. This change reflects a loss of market share in U.S. antitrust consulting. The company reaffirmed its full year 2026 revenue guidance, but margin pressures could hinder growth.
as of 2026-09-04
Review the evidence to watch, what would become a concern, and what would make it less concerning.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Stated as a priority in 3 of last 3 quarters. The Company repurchased 2.59 million shares for $390.9 million in 2026-Q2 and increased its revolving credit facility from $900 million to $1.5 billion, demonstrating active capital allocation and enhanced financial flexibility consistent with management's stated priorities.
“Board authorized an additional $370 million to repurchase shares; repurchased 2.59 million shares for $390.9 million.”
“Entered into third amendment of credit agreement increasing revolving credit from $900 million to $1.5 billion.”
“Repurchased 787,098 shares at average price $161.11 for $126.8 million; $364.9 million remained available for repurchases.”
Breaks if: Full year 2026 EPS falls below $8.90
Maintain full year 2026 EPS guidance range, recently updated to $8.70 to $9.30 with adjusted EPS guidance of $9.10 to $9.70.
Stated as a priority in 3 of last 3 quarters. Diluted EPS increased from $1.74 in 2025-Q1 to $1.99 in 2026-Q2. Management has reaffirmed full year 2026 EPS guidance, recently updating the range to $8.70 to $9.30 with adjusted EPS guidance of $9.10 to $9.70, showing consistent focus and delivery.
“The Company now estimates EPS for full year 2026 will range between $8.70 and $9.30, and Adjusted EPS between $9.10 and $9.70.”
“The Company is reaffirming its full year 2026 EPS guidance range of between $8.90 and $9.60.”
“The Company estimates that EPS for full year 2026 will range between $8.90 and $9.60.”
Breaks if: Full year 2026 revenue falls below $3.94 billion
Maintain full year 2026 revenue guidance range between $3.94 billion and $4.10 billion.
Stated as a priority in 3 of last 3 quarters. Revenue grew from $898.3 million in 2025-Q1 to $993.5 million in 2026-Q2. Management has consistently reaffirmed the full year 2026 revenue guidance range of $3.94 billion to $4.10 billion, indicating delivery on this priority.
“The Company is reaffirming its full year 2026 revenue guidance range of between $3.940 billion and $4.100 billion.”
“The Company is reaffirming its full year 2026 revenue guidance range of between $3.940 billion and $4.100 billion.”
“The Company estimates that revenues for full year 2026 will range between $3.940 billion and $4.100 billion.”
Over the next 1 to 3 years, FCN's performance will depend on management's execution and sector dynamics. Not investment advice.