FTI Consulting, Inc. (FCN) Balance Sheet
FCN balance sheet, 2025
December 31, 2025 · U.S. dollars$3.49B assets = $1.76B liabilities + $1.73B equity
Both columns are drawn to the same scale: what FCN owns equals what it owes plus shareholders’ equity. Hover a block for its value.
FCN financial health
Descriptive bands, not a rating. Fiscal 2025.
FCN balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $2.23B2016 | $3.49B2025 | +5.1%/yr | |
| Total liabilities | $1.02B2016 | $1.76B2025 | +6.3%/yr | |
| Shareholders’ equity | $1.21B2016 | $1.73B2025 | +4.1%/yr | |
| Cash & short-term investments | $216.2M2016 | $265.1M2025 | +2.3%/yr | |
| Total debt | $610.1M2016 | $626.7M2025 | +0.3%/yr | |
| Net cash (debt) | −$394.0M2016 | −$361.6M2025 | +$32.3M | |
| Working capital | $404.7M2016 | $542.4M2025 | +$137.7M | |
| Book value per share | $28.952016 | $52.732025 | +6.9%/yr | |
| Current ratio | 2.072016 | 1.562025 | −0.51 | |
| Debt / equity | 0.512016 | 0.362025 | −0.14 | |
| Shares outstanding | 41.7M2016 | 32.9M2025 | −2.6%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
FCN assets
FCN liabilities and equity
FCN debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
FCN balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $265.1M | $660.5M | $328.7M | $491.7M | $494.5M | $295.0M | $369.4M | $312.1M | $190.0M | $216.2M |
| Cash & equivalents | $265.1M | $660.5M | $303.2M | $491.7M | $494.5M | $295.0M | $369.4M | $312.1M | $190.0M | $216.2M |
| Short-term investments | — | $0 | $25.5M | $0 | — | — | — | — | $0 | $0 |
| Receivables | $1.14B | $1.07B | $1.15B | $934.4M | $791.6M | $756.9M | $736.6M | $583.8M | $548.6M | $506.8M |
| Inventory | $0 | $0 | $51.1M | $0 | $60.0M | $58.5M | $47.9M | $54.7M | $48.5M | $47.5M |
| Other current assets | $112.8M | $87.4M | $27.4M | $84.5M | $23.9M | $19.3M | $24.7M | $14.7M | $7.2M | $12.7M |
| Total current assets | $1.52B | $1.82B | $1.56B | $1.51B | $1.37B | $1.13B | $1.18B | $965.4M | $794.2M | $783.2M |
| Property, plant & equipment (net) | $370.8M | $348.6M | $368.6M | $357.2M | $358.2M | $258.3M | $253.4M | $84.6M | $75.1M | $61.9M |
| Goodwill & intangible assets | $1.26B | $1.24B | $1.25B | $1.25B | $1.26B | $1.28B | $1.24B | $1.21B | $1.25B | $1.23B |
| Long-term investments | $0 | $0 | $0 | $56.0M | $53.5M | $61.1M | $69.0M | $84.5M | $98.1M | $104.5M |
| Other non-current assets | $345.8M | $185.4M | $149.0M | $64.5M | $54.4M | $51.8M | $40.8M | $37.8M | $40.9M | $43.7M |
| Total assets | $3.49B | $3.60B | $3.33B | $3.24B | $3.10B | $2.78B | $2.78B | $2.38B | $2.26B | $2.23B |
| Liabilities | ||||||||||
| Accounts payable | $15.0M | $26.0M | $21.7M | $20.3M | $16.2M | $13.1M | $18.3M | $104.6M | $94.9M | $87.3M |
| Short-term debt | $37.2M | $34.1M | $33.9M | $31.9M | $30.8M | $42.7M | $35.7M | $314.6M | $247.8M | $244.6M |
| Deferred revenue | $56.6M | $67.6M | $67.9M | $53.6M | $45.5M | $44.2M | $36.7M | $44.4M | $46.9M | $29.6M |
| Total current liabilities | $975.2M | $931.8M | $892.8M | $769.5M | $718.1M | $670.2M | $612.5M | $482.6M | $410.3M | $378.5M |
| Long-term debt | $365.0M | $0 | $0 | $315.2M | $297.2M | $286.1M | $275.6M | $265.6M | $396.3M | $365.5M |
| Lease obligations | $261.7M | $242.1M | $257.6M | $253.5M | $266.9M | $204.4M | $212.1M | — | — | — |
| Other long-term liabilities | $416.6M | $406.8M | $451.7M | $475.0M | $502.3M | $420.9M | $405.9M | $282.2M | $258.7M | $274.0M |
| Total liabilities | $1.76B | $1.34B | $1.34B | $1.56B | $1.52B | $1.38B | $1.29B | $1.03B | $1.07B | $1.02B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $309,000 | $359,000 | $355,000 | $340,000 | $343,000 | $345,000 | $374,000 | $381,000 | $377,000 | $420,000 |
| Retained earnings (deficit) | $1.86B | $2.39B | $2.11B | $1.86B | $1.70B | $1.51B | $1.41B | $1.20B | $1.05B | $941.0M |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | −$129.6M | −$176.6M | −$150.5M | −$176.7M | −$128.8M | −$106.4M | −$140.8M | −$147.8M | −$120.2M | −$150.9M |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $1.73B | $2.26B | $1.98B | $1.68B | $1.58B | $1.40B | $1.49B | $1.35B | $1.19B | $1.21B |
| Key figures | ||||||||||
| Total debt | $626.7M | $242.1M | $257.6M | $568.7M | $564.0M | $490.5M | $487.7M | $580.2M | $644.1M | $610.1M |
| Net cash (debt) | −$361.6M | $418.3M | $71.0M | −$77.0M | −$69.5M | −$195.6M | −$118.3M | −$268.1M | −$454.1M | −$394.0M |
| Working capital | $542.4M | $887.8M | $662.7M | $741.1M | $651.9M | $459.5M | $566.1M | $482.8M | $383.9M | $404.7M |
| Tangible book value | $477.4M | $1.01B | $728.6M | $428.6M | $318.5M | $123.8M | $247.9M | $141.9M | −$57.0M | −$24.8M |
| Book value per share | $52.73 | $63.00 | $55.59 | $47.00 | $44.81 | $37.69 | $39.07 | $35.20 | $30.41 | $28.95 |
| Shares outstanding | 32.9M | 35.8M | 35.6M | 35.8M | 35.3M | 37.1M | 38.1M | 38.3M | 39.2M | 41.7M |
| Current ratio | 1.56 | 1.95 | 1.74 | 1.96 | 1.91 | 1.69 | 1.92 | 2.00 | 1.94 | 2.07 |
| Quick ratio | 1.44 | 1.86 | 1.65 | 1.85 | 1.79 | 1.57 | 1.81 | 1.86 | 1.80 | 1.91 |
| Debt / equity | 0.36 | 0.11 | 0.13 | 0.34 | 0.36 | 0.35 | 0.33 | 0.43 | 0.54 | 0.51 |
| Equity / assets | 49.7% | 62.8% | 59.6% | 51.9% | 51.1% | 50.4% | 53.5% | 56.7% | 52.8% | 54.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $163.7M | $198.3M | $265.1M | $146.0M | $152.8M | $151.1M | $660.5M | $386.3M | $226.4M | $244.0M | $328.7M | $201.1M |
| Cash & equivalents | $163.7M | $198.3M | $265.1M | $146.0M | $152.8M | $151.1M | $660.5M | $386.3M | $226.4M | $244.0M | $303.2M | $201.1M |
| Short-term investments | — | — | — | — | — | — | $0 | — | — | — | $25.5M | — |
| Receivables | $1.25B | $1.24B | $1.14B | $1.23B | $1.21B | $1.17B | $1.07B | $1.23B | $1.24B | $1.20B | $1.15B | $1.24B |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1 | $0 | $51.1M | $0 |
| Other current assets | $170.7M | $119.2M | $112.8M | $123.3M | $136.7M | $105.4M | $87.4M | $100.3M | $107.1M | $98.1M | $27.4M | $127.0M |
| Total current assets | $1.59B | $1.56B | $1.52B | $1.50B | $1.50B | $1.43B | $1.82B | $1.72B | $1.57B | $1.54B | $1.56B | $1.57B |
| Property, plant & equipment (net) | $354.2M | $360.0M | $370.8M | $372.0M | $364.5M | $354.4M | $348.6M | $357.3M | $354.8M | $352.5M | $368.6M | $367.4M |
| Goodwill & intangible assets | $1.25B | $1.25B | $1.26B | $1.26B | $1.26B | $1.25B | $1.24B | $1.26B | $1.25B | $1.25B | $1.25B | $1.25B |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $341.7M | $336.9M | $345.8M | $363.7M | $368.8M | $316.9M | $185.4M | $186.1M | $184.3M | $177.2M | $149.0M | $138.6M |
| Total assets | $3.53B | $3.51B | $3.49B | $3.49B | $3.49B | $3.35B | $3.60B | $3.52B | $3.36B | $3.32B | $3.33B | $3.32B |
| Liabilities | ||||||||||||
| Accounts payable | $179.8M | $216.5M | $15.0M | $153.3M | $148.9M | $202.2M | $26.0M | $165.6M | $145.1M | $192.1M | $21.7M | $137.5M |
| Short-term debt | $39.5M | $37.8M | $37.2M | $0 | $36.0M | $33.8M | $34.1M | $36.2M | $37.5M | $34.7M | $33.9M | $33.1M |
| Deferred revenue | $57.8M | $53.2M | $56.6M | $60.5M | $61.6M | $68.1M | $67.6M | $64.8M | $67.6M | $68.2M | $67.9M | $57.0M |
| Total current liabilities | $782.4M | $676.8M | $975.2M | $809.0M | $713.5M | $637.3M | $931.8M | $823.2M | $713.9M | $627.7M | $892.8M | $708.5M |
| Long-term debt | $1.02B | $754.3M | $365.0M | $510.0M | $470.0M | $160.0M | $0 | $0 | $60.0M | $205.0M | $0 | $285.0M |
| Lease obligations | $208.7M | $215.0M | $261.7M | $226.0M | $216.7M | $201.2M | $242.1M | $217.0M | $214.5M | $213.6M | $257.6M | $217.8M |
| Other long-term liabilities | $399.1M | $413.7M | $416.6M | $421.1M | $410.8M | $400.8M | $406.8M | $441.8M | $434.4M | $437.5M | $451.7M | $460.8M |
| Total liabilities | $2.20B | $1.84B | $1.76B | $1.74B | $1.59B | $1.20B | $1.34B | $1.26B | $1.21B | $1.27B | $1.34B | $1.45B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $277,000 | $301,000 | $309,000 | $313,000 | $327,000 | $349,000 | $359,000 | $360,000 | $359,000 | $357,000 | $355,000 | $355,000 |
| Retained earnings (deficit) | $1.47B | $1.80B | $1.86B | $1.88B | $2.03B | $2.31B | $2.39B | $2.35B | $2.28B | $2.19B | $2.11B | $2.03B |
| Accumulated other comprehensive income | −$139.9M | −$139.7M | −$129.6M | −$133.1M | −$128.2M | −$162.0M | −$176.6M | −$134.9M | −$163.6M | −$161.9M | −$150.5M | −$178.7M |
| Total shareholders' equity | $1.33B | $1.66B | $1.73B | $1.75B | $1.90B | $2.15B | $2.26B | $2.25B | $2.15B | $2.05B | $1.98B | $1.86B |
| Key figures | ||||||||||||
| Total debt | $1.27B | $1.01B | $626.7M | $736.0M | $722.8M | $395.0M | $242.1M | $253.2M | $312.1M | $453.3M | $257.6M | $535.8M |
| Net cash (debt) | −$1.10B | −$808.7M | −$361.6M | −$590.0M | −$569.9M | −$243.9M | $418.3M | $133.2M | −$85.6M | −$209.3M | $71.0M | −$334.7M |
| Working capital | $804.3M | $880.1M | $542.4M | $689.5M | $789.5M | $791.6M | $887.8M | $892.8M | $855.3M | $917.0M | $662.7M | $858.7M |
| Tangible book value | $81.8M | $409.0M | $477.4M | $494.1M | $642.0M | $902.1M | $1.01B | $994.4M | $900.1M | $804.3M | $728.6M | $618.9M |
| Book value per share | $41.88 | $52.17 | $56.52 | $54.98 | $56.56 | $60.55 | $63.00 | $62.75 | $59.96 | $57.41 | $55.38 | $52.29 |
| Shares outstanding | 31.9M | 31.9M | 30.7M | 31.8M | 33.6M | 35.5M | 35.8M | 35.9M | 35.8M | 35.8M | 35.8M | 35.7M |
| Current ratio | 2.03 | 2.30 | 1.56 | 1.85 | 2.11 | 2.24 | 1.95 | 2.08 | 2.20 | 2.46 | 1.74 | 2.21 |
| Quick ratio | 1.81 | 2.12 | 1.44 | 1.70 | 1.92 | 2.08 | 1.86 | 1.96 | 2.05 | 2.30 | 1.65 | 2.03 |
| Debt / equity | 0.95 | 0.61 | 0.36 | 0.42 | 0.38 | 0.18 | 0.11 | 0.11 | 0.15 | 0.22 | 0.13 | 0.29 |
| Equity / assets | 37.7% | 47.4% | 49.7% | 50.1% | 54.4% | 64.2% | 62.8% | 64.0% | 64.0% | 61.8% | 59.6% | 56.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 26, 2026); data from EODHD.
FCN financial position
At the end of fiscal 2025 (December 31, 2025), FTI Consulting had total assets of $3.5 billion (down 3.0% from a year earlier), total liabilities of $1.8 billion and shareholders' equity of $1.7 billion. It held $265.1 million in cash and short-term investments against $626.7 million of debt, net debt of $361.6 million. Its current ratio was 1.56. In the latest quarter (ended June 30, 2026) total assets were $3.5 billion and equity $1.3 billion.
Related: FCN income statement, FCN cash flow statement, FCN key metrics. See the FCN stock overview for the latest quote and news.
FCN balance sheet FAQ
What are FTI Consulting's total assets?
FTI Consulting reported total assets of $3.5 billion at the end of fiscal 2025 (December 31, 2025), compared with $3.6 billion a year earlier.
How much debt does FTI Consulting have?
FTI Consulting had $626.7 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.36.
How much cash does FTI Consulting have?
FTI Consulting held $265.1 million in cash and short-term investments at the end of fiscal 2025; with $626.7 million of debt that is net debt of $361.6 million.
What is FTI Consulting's book value?
FTI Consulting's shareholders' equity (book value) was $1.7 billion at the end of fiscal 2025, or $52.73 per share.
What is FTI Consulting's current ratio?
FTI Consulting had current assets of $1.5 billion and current liabilities of $975.2 million, a current ratio of 1.56 (it can cover its short-term obligations).
How much goodwill does FTI Consulting have?
FTI Consulting carried $1.3 billion of goodwill and intangible assets, 36.0% of total assets, at the end of fiscal 2025.