FTI Consulting reported record revenues for the full year 2025, driven by strong performance in Corporate Finance, Forensic and Litigation Consulting, and Strategic Communications segments. Despite facing headwinds in some businesses, the company achieved its eleventh consecutive year of Adjusted EPS growth, underscoring the resilience of its client-focused strategy.
Full Year 2025 Record Revenues of $3.789 Billion, up 2.4% compared to the prior year.
positiveFourth Quarter 2025 Record Revenues of $990.7 Million, up 10.7% compared to the prior year quarter.
positiveFull Year 2025 EPS of $8.24, up 6% compared to $7.81 in the prior year.
positiveFourth Quarter 2025 EPS of $1.78, up 29% compared to $1.38 in the prior year quarter.
positiveAdjusted EBITDA of $463.6 million for Full Year 2025, an increase of 15% compared to $403.7 million in the prior year.
positiveCorporate Finance segment revenues increased 26.1% year-over-year in Q4 2025, driven by higher demand and bill rates for turnaround & restructuring, transactions, and transformation services.
positiveStrategic Communications segment revenues increased 14.8% year-over-year in Q4 2025, driven by higher demand for corporate reputation services.
positiveNet income for Full Year 2025 decreased to $270.9 million from $280.1 million in the prior year, primarily due to higher direct costs, increased income taxes, special charges, and interest expense.
negativeNet cash provided by operating activities decreased significantly to $152.1 million for Full Year 2025 from $395.1 million in the prior year, primarily due to higher forgivable loan issuances, compensation, and income tax payments.
negativeEconomic Consulting segment revenues decreased 14.5% year-over-year in Q4 2025, due to lower demand for antitrust services.
negativeEconomic Consulting segment reported an operating loss of $0.3 million in Q4 2025, compared to an operating income of $14.4 million in the prior year quarter.
negativeFull Year 2025 included a $25.3 million special charge related to severance and other employee-related costs, reducing EPS by $0.59.
attentionCash and cash equivalents decreased to $265.1 million at December 31, 2025, from $660.5 million at December 31, 2024.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
Corporate Finance | N/A | — | — | — |
Forensic and Litigation Consulting | N/A | — | — | — |
Economic Consulting | N/A | — | — | — |
Technology | N/A | — | — | — |
Strategic Communications | N/A | — | — | — |
| Total Revenue | $0.00M | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.
Special items are non-recurring events that may distort period-over-period comparisons. Analysts typically adjust for these when calculating normalized earnings.
Delivered eleventh year in a row of Adjusted EPS growth and eighth year in a row of record revenues.
Achieved record results notwithstanding major headwinds in a couple of businesses.
Underscores the power and resilience of a business committed to investing in great talent and helping clients with their most significant challenges and opportunities.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.