FTI CONSULTING, INC

FCN · Consumer Discretionary · $5.0B mkt cap · FY2025 filings · Narrow moat

On the watchlist

Narrow moat

The four filters

Pricing power56

Median gross margin 32.3% over 10y, very stable.

Returns on capital76

Median ROIC 16.1%, above the 9% hurdle in 80% of years.

Balance-sheet safety92

Net debt/EBITDA 0.2x, interest coverage 18x.

Capital discipline100

Owner earnings +12.3%/yr, share count shrinking (buybacks).

Margin of safety

Above valueOn sale

3% above value

Owner earnings (normalized): $270.9M
Est. intrinsic value / share: $157.97
Recent price: $162.35
Discount to value: 3% above value

Conservative model: 9% discount rate, 4% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

Moat Score history

Score history begins 2026-07-17. Check back as the record builds.

Scores are logged append-only and never overwritten — this record can't be backfilled, which is exactly why it's worth keeping.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell FCN. See the disclaimer.