BAH vs FCN: Booz Allen Hamilton Holding and FTI Consulting compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Booz Allen Hamilton Holding is the larger company, worth $9.1B, about 2.1 times FTI Consulting.
- FTI Consulting grew revenue faster over the last year (+5.3% vs -4.2%).
- FTI Consulting keeps more of each dollar of revenue as operating profit (9.7% vs 9.5%).
- On earnings, Booz Allen Hamilton Holding is the cheaper stock (11.1x vs 17.2x).
- FTI Consulting's price assumes faster free cash flow growth: about 16% a year, against -5% for Booz Allen Hamilton Holding (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | BAH | FCN |
|---|---|---|
| Market cap | $9.1B | $4.4B |
| Share price | $73.94 | $136.16 |
| Revenue (last fiscal year) | $11.2B | $3.8B |
| Free cash flow (last fiscal year) | $951M | $94M |
| Revenue growth, last year | -4.2% | +5.3% |
| Revenue growth per year, last 5 fiscal years | +7.6% | +8.1% |
| Operating margin | 9.5% | 9.7% |
| Net margin | 7.0% | 6.4% |
| Return on equity | 64.7% | 18.9% |
| P/E (trailing) | 11.1x | 17.2x |
| Price / free cash flow | 9.94x | 27.8x |
| EV / EBITDA | 12.1x | 12.6x |
| FCF growth the price implies | -4.8% | 16.1% |
| Dividend yield | 2.9% | — |
| Debt / equity | 5.33x | 1.65x |
| Fundamental grade | C | C |
| Superinvestors holding it | 7 | 3 |
| Insider purchases, last 12 months | 1 | 7 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Booz Allen Hamilton Holding
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $8.4B | $657M | 8.2% |
| 2023 | $9.3B | $527M | 4.8% |
| 2024 | $10.7B | $192M | 9.5% |
| 2025 | $12.0B | $911M | 11.4% |
| 2026 | $11.2B | $951M | 9.2% |
FTI Consulting
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $2.8B | $287M | 11.2% |
| 2022 | $3.0B | $135M | 10.0% |
| 2023 | $3.5B | $175M | 10.8% |
| 2024 | $3.7B | $360M | 9.4% |
| 2025 | $3.8B | $94M | 10.3% |
Where the revenue comes from
Booz Allen Hamilton Holding
No segment breakdown reported.
FTI Consulting · by segments, 2025
Corporate Finance$1.6B41%
Forensic And Litigation Consulting$765M20%
Economic Consulting$721M19%
Strategic Communications$378M10%
Technology$374M10%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open BAH in InvestinglyQuestions
Which is bigger, Booz Allen Hamilton Holding or FTI Consulting?
Booz Allen Hamilton Holding (BAH), at $9.1B against $4.4B.
Is BAH or FCN cheaper?
By trailing P/E, Booz Allen Hamilton Holding (11.1x) is cheaper than FTI Consulting (17.2x). A lower multiple can also mean the market expects less growth.
Which grows faster, BAH or FCN?
FTI Consulting: revenue grew +5.3% over the last year, against -4.2%.
More comparisons
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.