FTI Consulting, Inc. (FCN) 株式分析

企業概要

FTI Consulting, Inc. operates as a provider of business advisory services designed to assist clients in managing change, mitigating risk, and resolving disputes on a global scale. The enterprise functions within the Industrials sector and specifically the Consulting Services industry, where it delivers specialized expertise across distinct operational segments including Corporate Finance, Forensic and Litigation Consulting, Economic Consulting, and Technology, and Strategic Communications. This major player commands a substantial market capitalization of 55.9 億ドル (5.59B), supported by an annual recurring revenue base of 37.9 億ドル (3.79B) and an extensive workforce comprising 8,118 従業員。Such valuation metrics and revenue figures indicate that the firm holds a significant position within the global advisory landscape, reflecting its ability to secure high-value mandates that drive substantial top-line growth relative to peers in the consulting services space.

財務健全性

The company reported trailing twelve-month revenue of 37.9 億ドル (3.79B), generating a net income of 27.087 億ドル (270.87M) and an EBITDA of 46.362 億ドル (463.62M). The substantial disparity between total revenue and net income reveals a cost structure where operating expenses, including overhead and administrative costs, consume a significant portion of earnings before interest and taxes. Free cash flow stands at 22.484 億ドル (224.84M), a metric that demonstrates the company's capacity to generate liquidity after capital expenditures, thereby providing financial flexibility for operational reinvestment or strategic acquisitions. Profitability efficiency is further evidenced by a gross margin of 32.1%, an operating margin of 9.4%, and a profit margin of 7.1%, indicating that while the firm maintains pricing power, operating leverage is critical to converting revenue into bottom-line earnings. Liquidity management is characterized by a cash balance of 26.509 億ドル (265.09M) against total debt of 62.672 億ドル (626.72M), resulting in a debt-to-equity ratio of 36.15 which suggests a leveraged balance sheet rather than a conservative one. Short-term solvency is supported by a current ratio of 1.56, indicating that current assets are 1.56 times greater than current liabilities, ensuring adequate liquidity to meet obligations due within a year. Return on equity measures management effectiveness at 13.6%, while return on assets stands at 7.3%, collectively revealing that the firm generates strong returns on shareholder capital relative to its total asset base.

バリュエーション評価

Valuation multiples show a trailing P/E ratio of 21.97 and a forward P/E of 16.36, implying that the market expects earnings to grow significantly in the coming year to justify the lower forward multiple. The price-to-book ratio is recorded at 3.16, suggesting that the stock trades at a significant premium over its tangible book value, reflecting intangible assets and brand strength not captured on the balance sheet. Alternative valuation metrics include a price-to-sales ratio of 1.48 and an EV/EBITDA of 12.50, which provide context on how the firm is valued relative to its revenue generation and operational profitability before interest, taxes, depreciation, and amortization. Historical price volatility is framed by a 52-week high of 185.61 ドル and a low of 149.31 ドル, meaning the current trading price sits at a level that reflects recent market sentiment relative to this established range. The beta coefficient is -0.01, an anomalous figure that indicates the stock's price movements have shown negligible correlation with the broader market index in the observed period.

Growth & Income

Revenue growth for the trailing twelve months is recorded at 10.7%, while earnings growth is markedly higher at 29.3%, indicating that profitability is expanding at a pace that outstrips top-line revenue expansion. This divergence suggests improved operational leverage or cost efficiencies are driving earnings per share faster than the company is adding new revenue streams. As the company does not pay dividends, evidenced by a dividend yield of N/A and a payout ratio of 0.0%, all generated earnings are retained and reinvested into the business to fund organic growth and strategic initiatives rather than being distributed to shareholders. Consequently, the overall growth and income profile is characterized by a focus on capital retention and internal expansion rather than income generation through dividends, aligning with a growth-oriented investment thesis for the consulting services sector.