NYSE: FCN — $166.58 (+5.54% as of Oct-27, 2025)

FTI Consulting is the suit you call when the boardroom is on fire, the deal needs saving, or the spreadsheet turned subpoena. With five complementary segments—Corporate Finance & Restructuring, Forensic & Litigation, Economic Consulting, Technology (e-discovery/IG), and Strategic Comms—FTI rides multiple cycles at once. And now the boss just wrote a personal check. 📈🖊️

The Fresh Catalyst (a.k.a. why the stock just got interesting)

Insider buy: Steven H. Gunby (CEO/COB/President—yes, all three hats 🎩🎩🎩) purchased 7,500 shares at ~$151.12 (~$1.13M). Insider conviction ≠ guaranteed profits, but it’s rarely a shrug.
Momentum: Q3’25 delivered record revenue ($956M, +3% YoY) and EPS $2.60 (+41% YoY). Corporate Finance & Restructuring and Forensic & Litigation hit records.
Capital returns: Active buybacks—$234M repurchased in Q3 at ~$164/share—and an extra $500M authorization. Fewer shares, bigger pie slice. 🍰

Institutions Are All Aboard 🚚📈

Major holders snapshot (as of 2025-06-30 unless noted):

• 🧑💼 Insiders: 1.92% of shares

• 🏦 Institutions: 109.26% of shares; 111.41% of float (yes, >100% — see note)

• 🧾 Institutions holding shares: 518

• 🧮 Shares outstanding: ~31M

Translation: It’s a who’s-who on Wall Street. Four firms own ~10%+ each (or near it), which is rare for a mid-cap advisory firm.

Top Institutional Holders (selected) 🏢

*Approximate % = Shares Held ÷ ~31M shares outstanding.

For FTI Consulting (FCN)'s Institutional Ownership breakdown, 🔍 see here.

Why this matters 🧭

• Signaling: High, sticky institutional ownership often reflects confidence in earnings durability and capital discipline (buybacks, margin stewardship).

• Support on dips: Large, long-only holders can provide liquidity backstops during volatility.

• Engagement: With several ~10% holders, governance and capital allocation tend to stay front-and-center.

📝 Why >100% of float?
Short lending and derivatives can cause double-counting in reported holdings (the same share effectively shows up at lender and borrower). It doesn’t mean more shares exist — it’s a reporting artifact common in heavily institution-owned names.

What FTI Actually Does (and why that matters)

• Corporate Finance & Restructuring (CFR): Turnarounds, transformations, transactions. Pro-cyclical and counter-cyclical.

• Forensic & Litigation: Investigations, disputes, construction, data & analytics. Think “truth with exhibits.” 🔍

• Economic Consulting: Antitrust/competition, financial economics, arbitration.

• Technology: E-discovery, info governance, privacy/security.

• Strategic Comms: Reputation, financial comms, public affairs—because the story matters.

The portfolio is designed to catch the ball whether the economy sprints, stalls, or trips on its shoelaces. 🏈

Numbers You Can Hang Your Hat On

• Q3’25 revenue: $956.2M (+3.3% YoY)

• Q3’25 EPS: $2.60 (+41% YoY)

• Adj. EBITDA margin: 13.7% (vs. 11.1% LY)

• Guidance (FY25): Revenue $3.685B–$3.735B, EPS $7.62–$8.12, Adj. EPS $8.20–$8.70 [vs Record Full Year 2024 Revenues of $3.699 Billion, Up 6% Compared to $3.489 Billion in Prior Year and Record Full Year 2024 EPS of $7.81 and Adjusted EPS of $7.99, Compared to EPS and Adjusted EPS of $7.71 in Prior Year]

• Share repurchases: ~$1.7B since 2016; $500M dry powder remains

• Clients: 90 of the Fortune 100; 8,100+ employees, 800+ SMDs; 2 Nobel laureates in the orbit

 👉 Want the full picture? Dive into FTI Consulting (FCN)'s financials here.

Why Bulls Are Smiling 😁

1) Insider alignment. When the tri-titled captain buys, investors notice.
2) Balanced engine. CFR and Forensic/Litigation humming while Eco Consulting/Tech cycle; diversification cushions.
3) Pricing power. Higher realized bill rates in several practices suggest strong demand + brand stickiness.
4) Buybacks. Accretive when done near or below intrinsic value; signal of confidence.
5) Reputation moat. In sensitive work (restructuring, antitrust, investigations), brand and bench depth win mandates.

But Also… Tap the Brakes 🛑

1) Growth isn’t hyper. Q3 headline growth was modest; some segments (Economic Consulting, Technology) declined YoY.
2) Competitive intensity. Elite boutiques, Big Four, and specialist firms vie for the same mandates.
3) Macro/M&A sensitivity. Deal pauses or litigation lulls can swing utilization.
4) Tech transition risk. Rapid AI/e-discovery shifts could compress pricing or demand if FTI under-monetizes new tools.
5) Valuation: Not “cheap-cheap.” By usual comps, P/S ~1.5 is reasonable; EV/EBITDA ~15 sits mid-teens—fine if earnings keep compounding.

💡💡💡 Curious about another deep oil exploration play?
Check our takes on UnitedHealth Group or even Oscar Health.

What Could Break

• Deal freeze: Prolonged M&A slump weakens Tech/Economic pipelines.

• Pricing pressure: Competitive bids compress rates/utilization.

• Execution risk: Mis-timed hiring or under-monetized AI tools dents margins.

• Macro shock: Litigation pauses, client budgets cut, geopolitical noise.

• Reg/Legal: Shifts in discovery rules or antitrust enforcement cadence.

Valuation Snapshot (quick-glance) 💹

• Trailing P/E: ~22.5 (a bit premium)

• Price/Sales: ~1.5 (reasonable for a premium advisory)

• EV/Revenue: ~1.5 (reasonable)

• EV/EBITDA: ~15 (mid-teens, reasonable if growth holds)

• Down ~32% from 2024 ATH ($243.60): rerating runway if execution stays crisp.

Investment Take (Fun but Serious)

If you want a “do-well-in-many-weather” professional services name with real insider skin in the game, improving margins, a heavy buyback, and blue-chip clientele, FCN fits. It’s not a moonshot; it’s a compounding consultancy with optionality across cycles. Consider buying on dips (or not) and letting time do the heavy lifting. 🧗♂️⏳

Quick Take / TL;DR ⚡

• Thesis: Insider buy + record Q3 + robust buybacks = aligned, confident story.

• Edge: Diversified practices catch multiple cycles; brand/pricing power evident.

• Watch-outs: Uneven segment trends; macro/M&A sensitivity; mid-teens EV/EBITDA needs delivery.

• Verdict: Quality compounder. Buy on pullbacks if you want durable, cycle-balanced exposure.

FAQs 🤔

Q: Does the insider purchase guarantee upside?
A: Nope. But CEO-COB-President buying seven figures is a strong signal of confidence.

Q: Isn’t growth slowing?
A: Headline growth is modest, but mix is improving (record CFR & Forensic/Lit). Margins expanded. Guidance nudged up.

Q: What could re-accelerate revenue?
A: Higher restructuring volumes, a pickup in investigations, and a thaw in antitrust/M&A assignments and Tech second-requests.

Q: Why do buybacks matter here?
A: With steady cash generation, shrinking share count boosts per-share metrics—especially if repurchases are sensibly timed.

Q: Where does AI fit?
A: Big time in Tech (e-discovery/IG), Forensic data analytics, and even modeling in Economic Consulting. Execution matters; under-pricing AI work could pinch.

Fun Corner (Boardroom Edition) 🎩

• Restructuring team motto: “We fix problems you can’t list on LinkedIn.”

• Forensic crew: “We put the ‘find’ in e-discovery.” 🔍

• Strategic Comms: “Turning ‘no comment’ into ‘notably compelling’ since 1982.” 🎙️

🧾⚠️📢 Fun(ny) Disclaimer: 🧾⚠️📢

🧫 Disclosure: We’re not your fiduciary—more like that overly caffeinated friend who reads filings for fun. ☕📄

Always DYOR, hold the FOMO, and don’t invest what you can’t afford to lose. Also, keep your humor cells alive. 🧬😄  

We laugh, we analyze, we meme. We sell jokes and opinions — and yes, we’re billing your sense of humor. 🎪💸 
We’re not financial advisors. We’re FUNancial advisors. 

Invest at your own risk. 💸💧 

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