FCNFTI CONSULTING, INC
Services-Management Consulting Services
- Revenue
- $3.8B
- 2.4% YoY
- Operating margin
- 10.3%
- 9.3% YoY
- EBITDA
- $435M
- 11% YoY
- Market cap
- $5.0B
- Employees
- 8,118
- $467K revenue each
- Net debt / EBITDA
- 0.9×
- $407M net debt
- AI in 10-K
- 10.1
- mentions per 10K words
Takeover score 3 of 13
Fixable underperformance 2 of 7
- TSR below peersNo1 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$9M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashYes56% of net incomeCash flow under 80% of net income
- Dilutive SBCNo1% of revenueOver 10% of revenue
- Payouts exceed cash flowYes564% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo36% of assetsOver 40% of assets
- Shareholder dissentNo99% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo$467K · 80th pctBottom quartile of its SIC industry
- Quiet on AINo10.1 per 10K words · 93rd pctBottom quartile of AI mentions in 10-Ks
- Net cashNo0.9× EBITDA net debtMore cash than debt, positive EBITDA
- Buyout-sizedYes$5.0B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo$490K netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $2.8B | $3.0B | $3.5B | $3.7B | $3.8B | 2.4% |
| Operating income | $312M | $304M | $378M | $347M | $389M | 12% |
| Net income | $235M | $236M | $275M | $280M | $271M | 3.3% |
| Operating cash flow | $355M | $189M | $224M | $395M | $152M | 61% |
| Capex | $69M | $53M | $49M | $35M | $59M | 65% |
| Stock-based comp | $23M | $25M | $30M | $38M | $39M | 2.3% |
| Buybacks | $46M | $85M | $21M | $10M | $859M | 8304% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $2M · 4
- Open-market sells, 12 mo
- $2M · 2
- Net
- $490K
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $10M | $6M | 153 | 171 |
| FY2024 | $9M | $6M | 171 | 164 |
| FY2023 | $9M | $15M | 178 | 132 |
| FY2022 | $9M | $12M | 142 | 113 |
| FY2021 | $8M | $14M | 137 | 133 |