FTI Consulting (FCN) Could Be 12% Undervalued After Buybacks Lifted Debt
FTI Consulting (FCN) has drawn investor attention after approving an additional US$370 million share repurchase program, following US$390.9 million of buybacks in Q2 2026 that supported per share earnings but lifted net debt.
See our latest analysis for FTI Consulting.
At a share price of US$153.49, FTI Consulting has seen its share price return weaken year to date, with a year to date share price decline of 9.86% and a one year total shareholder return decline of 9.25%. This points to fading momentum even as buybacks and broad based revenue growth keep the story in focus.
If recent buybacks and consulting demand have put FTI Consulting on your radar, it can also be useful to broaden your search with the 21 top founder-led companies
FTI Consulting looks like a solid advisory business with broad revenue growth, yet the heavy use of buybacks and higher net debt raises a tougher question: Are investors still getting a fair deal at today’s price?
Most Popular Narrative: 12% Undervalued
Against FTI Consulting’s last close at $153.49, the most followed narrative pegs fair value at $174.50, which puts its recent buyback activity and debt load in a different light.
The consulting industry's trend toward consolidation and the challenging macro climate are expected to drive "shakeouts" among weaker competitors, strengthening FTI's competitive position, client retention, and potential for market share gains, all of which could result in sustainable margin expansion and earnings growth.
Want to see what really underpins that higher fair value for FTI Consulting? The narrative leans heavily on steady revenue compounding, firmer margins, and a future earnings multiple that assumes investors stay patient. Curious how those moving parts are stitched together into one cohesive valuation story.
Result: Fair Value of $174.50 (UNDERVALUED)
Have a read of the narrative in full and understand what's behind the forecasts.
However, FTI Consulting’s story also carries pressure points, including AI driven automation that could compress certain consulting fees, as well as a tougher consulting backdrop that tests project win rates.
Find out about the key risks to this FTI Consulting narrative.
Next Steps
With FTI Consulting showing both upside arguments and clear pressure points, this is a moment to move quickly and test the story against the numbers yourself. To weigh up both sides, start with the 4 key rewards and 1 important warning sign.
Looking for more investment ideas beyond FTI Consulting?
If you like the FTI Consulting story, do not stop here. Putting a few more targeted ideas on your radar could make a real difference over time.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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