FTI Consulting, Inc
FTI Consulting is a global business advisory firm that helps organizations manage crisis, transformation, disputes, and regulatory pressure. It combines specialist expertise across corporate finance, forensics, economics, technology, and strategic communications to advise clients on complex, often event-driven situations.
Fiscal year 2025 · change from previous year
Development 2020–2025
Business
Share of revenueAdvisory for transactions, operational change, capital structure, and restructuring situations.
Investigations, disputes, cybersecurity, healthcare risk, and data-enabled forensic work.
Expert economic analysis for antitrust, litigation, arbitration, and regulatory matters.
Digital insights, e-discovery, AI, data processing, and information governance services.
Reputation, crisis, investor, and public affairs communications advisory services.
Customers
FTI Consulting sells mainly to enterprises and institutions facing high-stakes business, legal, or regulatory issues rather than routine outsourced work. Its client base includes companies, boards, investors, private equity sponsors, lenders, law firms, governments, and regulators, with many engagements tied to disputes, transactions, investigations, or crisis response. The firm also serves a large base of repeat referral sources, especially major law firms, which often bring matters on behalf of multiple end clients.
Buy restructuring, transaction, cyber, communications, and advisory support to manage change and risk.
Engage FTI for expert testimony, disputes, investigations, and economic analysis on behalf of clients.
Use the firm for crisis management, strategic communications, and high-stakes decision support.
Buy turnaround, valuation, restructuring, and transaction support in stressed or complex deals.
Purchase investigations, public policy, antitrust, and regulatory advisory services.
Strategy
FTI Consulting is focused on deepening its position as a specialist expert firm for crisis and transformation work. Its strategy centers on integrated cross-segment solutions, elite professional talent, and global reach so it can win complex, multi-discipline engagements that competitors cannot easily replicate.
Clients increasingly want one advisor across legal, financial, operational, and reputational issues.
The business competes on expert credibility, not scale alone, so recognized professionals drive win rates.
Data, AI, and e-discovery are increasingly central to disputes, compliance, and investigations.
Geography
2025FTI Consulting operates as a global advisory platform, with client work driven by where disputes, transactions, investigations, and regulatory matters arise. The company emphasizes worldwide reach across the U.S., Europe, and other major markets, and its service delivery is tied closely to client location and the jurisdiction of the matter. Geography matters because demand is influenced by local legal systems, capital markets activity, and regulatory intensity rather than by a single manufacturing footprint.
Share of the revenue the company reports by geography.
Risks
Demand is cyclical and tied to capital markets, M&A activity, litigation volumes, regulation, and geopolitical conditions, so revenue can weaken when client activity slows. The firm also faces execution risk from talent retention, pricing pressure in technology-related services, and judgment-heavy work where revenue timing, success fees, and estimates can move results between periods.
- Cyclical demand in capital markets and M&AImpact: HighLikelihood: Medium
Corporate Finance and related advisory work depends on transaction activity and financing conditions.
Exposure - Litigation, regulatory, and geopolitical slowdownImpact: HighLikelihood: Low
Many engagements are event-driven and can fall when disputes, investigations, or regulatory actions ease.
Exposure - Talent retention and low barriers to entryImpact: MediumLikelihood: Medium
The business depends on expert professionals who can leave to competitors or start independent practices.
Exposure: All segments
- Revenue timing and success-fee volatilityImpact: MediumLikelihood: Medium
Performance-based fees and milestone-based work can shift revenue recognition between quarters.
Exposure - AI and technology adoption riskImpact: MediumLikelihood: Medium
New tools may create legal, operational, ethical, or compliance issues and require added investment.
Exposure: Technology segment and AI-enabled services
Accounting
Judgemental itemsEngagements include time-and-expense, fixed-fee, unit-based, and success-fee structures that affect timing.
Impact: Quarterly revenue and margin volatility
The company tests reporting units using qualitative and quantitative valuation methods.
Impact: Potential non-cash impairment charges
Litigation-related work and tax positions require judgment on reserves and outcomes.
Impact: Earnings and balance sheet sensitivity
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Last updated: 24/09/2026