HURNNasdaqServices-Management Consulting ServicesUS GAAP · USD

Huron Consulting Group Inc.

Huron Consulting Group Inc. is a U.S.-based professional services firm that helps clients redesign operations, execute digital transformation, and manage complex business change. It serves healthcare, education, and commercial clients through consulting, managed services, and digital offerings, including proprietary software products that extend beyond traditional advisory work.

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Revenue1,699m USD
+11.7 %y/y
Operating profit (EBIT)179m USD
+5.8 %y/y
EBIT margin10.5%
−0.6 ppy/y
Net income105m USD
−9.9 %y/y
Free cash flow183m USD
−5.0 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

-50005001,0001,5002,000m USD2020: 871 m USD2020: EBIT -29 m USD20202021: 927 m USD2021: EBIT 53 m USD20212022: 1,159 m USD2022: EBIT 100 m USD20222023: 1,399 m USD2023: EBIT 125 m USD20232024: 1,522 m USD2024: EBIT 169 m USD20242025: 1,699 m USD2025: EBIT 179 m USD20251,699179
RevenueOperating profit (EBIT)

Business

Share of revenue
Healthcare45 %

Consulting, managed services, and digital tools for health systems and care delivery organizations.

Education25 %

Advisory and operational services for colleges, universities, academic medical centers, and research institutions.

Commercial25 %

Transformation, advisory, and managed services for regulated commercial industries and the public sector.

Digital and Software5 %

Proprietary software, analytics, and digital solutions sold alongside consulting engagements.

Customers

Huron sells primarily to large organizations that need specialized expertise to manage disruption, regulation, and operating complexity. Its core buyers are healthcare systems, higher-education institutions, and commercial enterprises in financial services, industrials, energy and utilities, and the public sector. In commercial accounts, buying decisions often involve senior executives and advisors such as CFOs, COOs, CROs, lenders, and law firms.

Healthcare providers

Large health systems and care organizations buy operational, digital, and compliance support to improve performance and care delivery.

Higher education and research institutions

Universities, academic medical centers, and research institutes buy advisory and managed services to modernize administration and research operations.

Financial services

Banks and other financial institutions buy regulatory, risk, and special situation advisory services to respond to change and stress.

Industrials, energy, and utilities

These clients buy transformation and performance improvement services to adapt operations and improve efficiency.

Public sector and other commercial industries

Government-related and broader commercial clients buy strategy, compliance, and digital services when facing disruption.

Strategy

Huron is focused on expanding in healthcare and education while building a larger commercial business to diversify end markets. It is also investing in digital capabilities, proprietary software, and a global delivery platform to improve margins, scale delivery, and deepen client relationships. Capital allocation emphasizes organic reinvestment, tuck-in acquisitions, and shareholder returns while maintaining a strong balance sheet.

Expand healthcare and education offeringsMedium term

These are core markets with strong client relationships and room to broaden wallet share.

Grow commercial industriesMedium term

Commercial markets diversify the portfolio and reduce dependence on healthcare and education.

Scale digital and proprietary softwareMedium term

Software and digital offerings can increase recurring revenue and differentiate the firm.

Improve operating marginShort term

Higher utilization, better pricing, and delivery efficiency support earnings growth.

Geography

Huron is headquartered in Chicago and operates across the United States with additional locations in Canada, France, India, Poland, Singapore, Switzerland, and the United Kingdom. The business is still centered on U.S. client demand, but its global delivery footprint, especially India, supports service delivery efficiency and margin expansion. International locations also help it serve multinational clients and deliver digital and managed services across time zones.

Risks

Huron’s results depend heavily on consultant utilization, billing rates, and the ability to move talent quickly between engagements, so weak demand or project timing can pressure margins. The firm also faces intense competition for advisory talent and client work, plus execution risk as it expands software, managed services, and new industry offerings. Brand, key-person retention, acquisition integration, and goodwill/intangible impairment are additional risks that can affect both operations and reported earnings.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Low consultant utilization or weaker billing rates1Competition for client mandates and talent2Retention of senior management and principals3Impairment on investments, goodwill, or intangibles4Expansion into new offerings and acquisitions5
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Low consultant utilization or weaker billing ratesImpact: HighLikelihood: Medium

    Revenue is generated by billable professionals, so idle capacity or pricing pressure directly reduces margins.

    Exposure: Consulting and managed services delivery model

  2. Competition for client mandates and talentImpact: HighLikelihood: Medium

    The market is fragmented and clients can choose large consultancies, accounting firms, or specialty advisors.

    Exposure: All segments

  3. Retention of senior management and principalsImpact: HighLikelihood: Medium

    Client relationships and business development are relationship-driven and depend on key people.

    Exposure: Sales and delivery leadership

  4. Impairment on investments, goodwill, or intangiblesImpact: MediumLikelihood: High

    Acquisitions and strategic investments require fair-value and impairment judgments that can hit earnings.

    Exposure: Balance sheet and other income/expense

  5. Expansion into new offerings and acquisitionsImpact: MediumLikelihood: Medium

    New services and tuck-in deals can bring integration, delivery, and demand-forecasting risk.

    ExposureDigitalManaged servicesAcquired practices

Accounting

Judgemental items
Revenue recognition

Different billing models require judgment on timing and amount of revenue recognized.

Impact: Affects reported revenue, contract assets, and margin timing

Unbilled services and doubtful accounts

Consulting work may be performed before billing, and collectability must be estimated.

Impact: Affects receivables, allowances, and operating income

Goodwill and intangible impairment

Acquisitions and strategic investments can lose value if performance weakens.

Impact: Can create material non-cash charges

Business combinations

Tuck-in acquisitions require purchase accounting and valuation of acquired intangibles.

Impact: Affects amortization expense and future earnings

Fair value of investments

The company marks certain investments to fair value and records unrealized gains or losses.

Impact: Can add volatility to other income and net earnings

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Last updated: 24/09/2026