Docoh
Loading...

FCN FTI Consulting

FTI Consulting, Inc. engages in the provision of financial, legal, operational, political and regulatory, reputational and transactional advisory services. It operates through the following segments: Corporate Finance and Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology, and Strategic Communications. The Corporate Finance and Restructuring segment focuses on the strategic, operational, financial, and capital needs of clients. The Forensic and Litigation Consulting segment offers law firms, companies, government clients, and other interested parties with multidisciplinary, independent dispute advisory, investigations, data analytics, forensic accounting, business intelligence, risk mitigation services and interim management services for health solutions practice clients. The Economic Consulting segment comprises of the analysis of complex economic issues for use in legal, regulatory and international arbitration proceedings, strategic decision making, and public policy debates for law firms, companies, government entities and other interested parties. The Technology segment consists of portfolio of information governance, e-discovery and data analytics software, services, and consulting support to corporations, law firms, courts and government agencies. The Strategic Communications segment designs and executes communications strategies for management teams and boards of directors relating to managing financial, regulatory and reputational challenges, navigate market disruptions, articulate brand, stake a competitive position, and preserve and grow operations. The company was founded in 1982 and is headquartered in Washington, DC.

Company profile

Ticker
FCN
Exchange
CEO
Steven Gunby
Employees
Incorporated
Fiscal year end
Former names
FORENSIC TECHNOLOGIES INTERNATIONAL CORP, FTI CONSULTING INC
SEC CIK
IRS number
521261113

FCN stock data

(
)

Calendar

25 Feb 21
11 Apr 21
31 Dec 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 294.95M 294.95M 294.95M 294.95M 294.95M 294.95M
Cash burn (monthly) 3.24M 6.2M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 10.92M 20.93M n/a n/a n/a n/a
Cash remaining 284.04M 274.03M n/a n/a n/a n/a
Runway (months of cash) 87.8 44.2 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
18 Mar 21 Keating Brendan J Common Stock Payment of exercise Dispose F No No 131.51 500 65.76K 6,500
13 Mar 21 Lu Curtis P Common Stock Payment of exercise Dispose F No No 125.78 449 56.48K 28,012
13 Mar 21 Paul Holly Common Stock Payment of exercise Dispose F No No 125.78 480 60.37K 36,330
13 Mar 21 Linton Paul Alderman Common Stock Payment of exercise Dispose F No No 125.78 480 60.37K 38,215
13 Mar 21 Sabherwal Ajay Common Stock Payment of exercise Dispose F No No 125.78 480 60.37K 13,690

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

98.5% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 318 317 +0.3%
Opened positions 57 65 -12.3%
Closed positions 56 48 +16.7%
Increased positions 73 92 -20.7%
Reduced positions 154 126 +22.2%
13F shares
Current Prev Q Change
Total value 4.32B 3.7B +16.6%
Total shares 33.74M 34.89M -3.3%
Total puts 78K 37.9K +105.8%
Total calls 44.8K 31.8K +40.9%
Total put/call ratio 1.7 1.2 +46.1%
Largest owners
Shares Value Change
Vanguard 3.27M $365.14M -4.2%
BLK Blackrock 3.07M $343.15M +0.5%
Kayne Anderson Rudnick Investment Management 2.91M $325.18M NEW
JPM JPMorgan Chase & Co. 2.26M $252.36M -13.0%
Dimensional Fund Advisors 1.49M $166.2M -11.6%
Black Creek Investment Management 1.21M $134.77M +259.7%
Victory Capital Management 1.1M $123.26M -7.1%
Greenvale Capital 905K $101.11M +20.7%
Nitorum Capital 885.4K $98.92M +60.2%
STT State Street 839.02K $93.74M -1.0%
Largest transactions
Shares Bought/sold Change
Kayne Anderson Rudnick Investment Management 2.91M +2.91M NEW
FMR 236.99K -1.45M -86.0%
TROW T. Rowe Price 347.05K -1.22M -77.8%
Black Creek Investment Management 1.21M +870.9K +259.7%
Naya Capital Management Uk 0 -838.06K EXIT
Brown Advisory 631.67K +631.67K NEW
Marathon Asset Management 431.01K +431.01K NEW
WFC Wells Fargo & Co. 424.78K +381.76K +887.3%
Norges Bank 368.67K +368.67K NEW
JPM JPMorgan Chase & Co. 2.26M -336.95K -13.0%

Financial report summary

?
Competition
CanadaFranklin CoveyFronteoKLDiscovery
Risks
  • The COVID-19 pandemic has had, and could continue to have, a negative impact on our financial results and it could potentially have a material adverse impact on our business, financial condition and results of operations, the extent of which is not predictable.
  • The COVID-19 pandemic has impacted, and could continue to impact, our segments and practices, the types of services they provide, and the regions in which we operate, differently.
  • The COVID-19 pandemic could heighten risks related to, or otherwise negatively impact the effectiveness of, cybersecurity, information technology, financial reporting and other corporate functions that the Company relies upon to operate.
  • The COVID-19 pandemic could adversely impact the health and welfare of our client-facing professionals, as well as our executive officers and other employees of our Company, which could have a material adverse effect on our ability to secure or perform client engagements and our results of operations.
  • Our revenues, operating income and cash flows are likely to fluctuate.
  • If we do not effectively manage the utilization of our professionals or billable rates, our financial results could decline.
  • Our segments may face risks of fee non-payment, clients may seek to renegotiate existing fees and contract arrangements, and clients may not accept billable rate or price increases, which could result in loss of clients, fee write-offs, reduced revenues and less profitable business.
  • Our Technology segment faces certain risks, including (i) industry consolidation and a highly competitive environment, (ii) client concentration, (iii) downward pricing pressure, (iv) technology changes and obsolescence, and (v) failure to protect intellectual property ("IP") used by the segment, which individually or together could cause the financial results and prospects of this segment and the Company to decline.
  • We face certain risks relating to cybersecurity, the failure to protect the confidentiality of client information against misuse or disclosure, and the use or misuse of social media.
  • We may not manage our growth effectively, and our profitability may suffer.
  • Our international operations involve special risks.
  • Failure to comply with governmental, regulatory and legal requirements or with our company-wide Code of Ethics and Business Conduct, Anti-Corruption Policy, Policy on Inside Information and Insider Trading, and other policies could lead to governmental or legal proceedings that could expose us to significant liabilities and damage our reputation.
  • We may be required to recognize goodwill impairment charges, which could materially affect our financial results.
  • The compromise of confidential or proprietary information could damage our reputation, harm our businesses and adversely impact our financial results.
  • Governmental focus on data privacy and security has increased, and could continue to increase, our costs of operations.
  • Our failure to recruit and retain qualified professionals and manage headcount needs and utilization could negatively affect our financial results and our ability to staff client engagements, maintain relationships with clients and drive future growth.
  • We incur substantial costs to hire and retain our professionals, and we expect these costs to continue and to grow.
  • We rely heavily on our executive officers and the heads of our segments and industry and regional leaders for the success of our business.
  • Professionals may leave our Company to form or join competitors, and we may not have, or may choose not to pursue, legal recourse against such professionals.
  • If we are unable to accept client engagements due to real or perceived relationship issues, our revenues, growth, client engagements and prospects may be negatively affected.
  • Claims involving our services or adverse publicity could harm our overall professional reputation and our ability to compete and attract business or hire or retain qualified professionals.
  • We may incur significant costs and may lose engagements as a result of claims by our clients regarding our services.
  • Our clients may terminate our engagements with little or no notice and without penalty, which may result in unexpected declines in our utilization and revenues.
  • We may not have, or may choose not to pursue, legal remedies against clients that terminate their engagements.
  • Failures of our internal information technology systems controls may harm our overall professional reputation and disrupt our business operations.
  • If we fail to compete effectively, we may miss new business opportunities or lose existing clients, and our revenues and profitability may decline.
  • We may face competition from parties who sell us their businesses and from professionals who cease working for us.
  • We may have difficulty integrating acquisitions or convincing clients to allow assignment of their engagements to us, which can reduce the benefits we receive from acquisitions.
  • We may have a different system of governance and management from a company we acquire or its parent, which could cause professionals who join us from an acquired company to leave us.
  • Our leverage could adversely affect our financial condition or operating flexibility if the Company fails to comply with operating covenants under applicable debt instruments.
  • We and our subsidiaries may incur significant additional indebtedness.
  • We may not be able to generate sufficient cash to service our indebtedness, and we may be forced to take other actions to satisfy our payment obligations under our indebtedness, which may not be successful.
  • Our Credit Facility is guaranteed by substantially all of our domestic subsidiaries and will be required to be guaranteed by future domestic subsidiaries, including those that join us in connection with acquisitions.
  • We may not have the ability to raise the funds necessary to settle conversions of the 2023 Convertible Notes or to repurchase the 2023 Convertible Notes upon a fundamental change, and the agreements governing our other indebtedness contain, and our future debt may contain, limitations on our ability to pay cash upon conversion or repurchase of the 2023 Convertible Notes.
  • The conditional conversion feature of the 2023 Convertible Notes, if triggered, may adversely affect our financial condition and operating results.
  • The accounting method for convertible debt securities that may be settled in cash, such as the 2023 Convertible Notes, could have a material effect on our reported financial results.
  • Our variable rate indebtedness will subject us to interest rate risk, which could cause our annual debt service obligations to increase significantly.
Management Discussion
  • (1)Excluded from non-GAAP financial measures.
  • Revenues for the year ended December 31, 2020 increased $108.6 million, or 4.6%, as compared with the year ended December 31, 2019. Acquisition-related revenues contributed $40.7 million, or 1.7%, compared with 2019. Excluding the acquisition-related revenues, revenues increased $67.8 million, or 2.9%, primarily due to increased demand for our Corporate Finance segment, which was partially offset by lower demand for our FLC segment, as well as a $38.5 million decrease in pass-through revenues, primarily resulting from a Coronavirus Disease 2019 ("COVID-19") pandemic related decline in billable travel and entertainment expenses, compared with 2019.
  • During the year ended December 31, 2020, we recorded a special charge of $7.1 million, which consists of the following components:
Content analysis
?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Avg
New words: abandonment, accuracy, adherence, afflicted, ALM, attachment, Barcelona, Belonging, billion, bono, California, career, cessation, charitable, citizenship, confirming, contractor, controversial, counterparty, cure, deeper, Delta, Disease, distancing, Dubai, elevated, empowering, encounter, encountered, exclusively, faster, FCA, footage, foster, greatest, GunbyPresident, home, IBA, ICE, induction, inflow, intention, intersection, Johannesburg, Licensee, Licensor, lifetime, magnitude, milestone, Officerand, Pacesetter, pandemic, possession, profile, prolonged, publish, published, reconciled, recovery, relocation, remitted, remote, remotely, replicated, rulemaking, sample, shortly, spent, stay, stoppage, strive, Sydney, talent, tenor, unregulated, view, viewed, virtual, voluntarily, volunteering, welfare, wholly, worsen, xii, xiii, xiv, xv, xvi, xvii
Removed: abuse, accelerate, activism, addressing, administratively, aerospace, affiliated, affordability, agriculture, aimed, alongside, analytical, analyzing, animal, appointment, array, articulate, articulating, aspect, assured, atop, attorney, audio, automotive, aviation, avoidance, backup, behavior, benchmarking, Berlin, biodiversity, broadcast, broader, budget, building, bundling, candidate, capita, care, centralized, clean, climate, coaching, coal, collaborate, collaboration, collar, collateralized, collectability, collecting, commodity, community, comparability, comparative, compliant, Computation, condo, confidently, confronting, consisted, consultancy, contamination, contend, contracting, copyright, corruption, creating, credentialed, credibility, crude, cumulative, curtailment, customary, customized, cyber, decommissioning, deductibility, deep, defense, defensible, defensive, deleted, deregulation, designing, digital, disciplined, discover, discreet, discrimination, disposing, disseminate, distressed, Diversification, diversify, doubtful, econometric, efficiency, electric, elimination, email, empirical, enabling, energy, engineering, equation, ESI, exacerbate, excessive, exclusionary, executable, executing, explaining, Extensive, extraordinary, fact, Fast, favorably, feasibility, fell, fiduciary, fill, fixing, food, forecasting, formulate, friendly, gaming, gas, GILTI, governed, hardware, headroom, hedge, hospital, hospitality, hostile, identifying, identity, image, imminent, implementing, improvement, improving, incident, influenced, infringement, inorganic, insist, instant, institute, interconnected, intergroup, interruption, invention, investigating, investor, IPO, jurisdictional, labor, lack, laundering, leisure, leveraging, licensing, locate, manipulation, mapping, master, Melbourne, message, messaging, migration, minimizing, minimum, mining, misplaced, mobile, modern, modified, monetizing, monitoring, monopolization, narrative, natural, navigating, negotiating, noncore, noncurrent, oil, optimal, optimization, optimizing, Organisation, organizational, organize, overhaul, partnership, patient, percent, perception, persuasive, polling, positioning, PR, predatory, predictability, preferential, preparing, production, profitably, project, promote, protected, proven, provisional, purported, Qualifying, quantify, quantifying, quantity, Radiance, radio, rail, reached, reactive, realign, realignment, rebuilding, rebut, receivership, recognizing, recommend, recording, refined, refinement, refund, REIT, reluctant, remediate, renewable, rent, repair, research, responding, retrospective, reuse, reviewing, seasoned, sector, securitized, segregation, seize, server, shaping, shared, sharing, situation, solution, solvency, stabilizing, stake, stakeholder, statistical, story, structured, structuring, substitution, suffered, tactical, targeted, targeting, taxation, taxing, testify, theory, thought, TMT, today, toxic, trademark, traditional, transformative, transition, transportation, treasurer, trial, TrialMax, trucking, TV, tying, UK, UKBA, underperforming, unidentified, universe, unplanned, unrealizable, unrepatriated, upfront, utility, valuable, vehicle, video, vision, visual, visualize, voicemail, void, wage, weather, white, wireline, workstation, worldwide