Exponent (EXPO) financial statements
Exponent reported revenue of $582M in fiscal 2025, up 7.1% a year over 9 years.
Net income was $106M and the operating margin 20.6%, against 19.6% in 2016.
Free cash flow was $122M, and the company returned $62M in dividends and $97M in net buybacks.
The diluted share count fell 6% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Exponent's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $315M | $348M | $380M | $417M | $400M | $466M | $513M | $537M | $559M | $582M |
| Selling, general and admin | $15M | $18M | $18M | $21M | $13M | $15M | $24M | $24M | $23M | $26M |
| Operating income | $62M | $72M | $91M | $85M | $83M | $109M | $141M | $111M | $120M | $120M |
| Pre-tax income | $69M | $83M | $93M | $104M | $97M | $126M | $132M | $136M | $147M | $147M |
| Income tax | $22M | $41M | $21M | $22M | $14M | $25M | $30M | $36M | $38M | $41M |
| Net income | $47M | $41M | $72M | $82M | $83M | $101M | $102M | $100M | $109M | $106M |
| EPS (diluted) | $0.87 | $0.77 | $1.33 | $1.53 | $1.55 | $1.90 | $1.96 | $1.94 | $2.11 | $2.07 |
| Diluted shares | 54M | 54M | 54M | 54M | 53M | 53M | 52M | 52M | 52M | 51M |
| Operating margin | 19.6% | 20.7% | 24.1% | 20.4% | 20.8% | 23.4% | 27.4% | 20.7% | 21.4% | 20.6% |
| Net margin | 15.1% | 11.9% | 19.0% | 19.8% | 20.6% | 21.7% | 19.9% | 18.7% | 19.5% | 18.2% |
Balance sheet
Fiscal years, from Exponent's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $174M | $196M | $209M | $232M | $243M | $298M | $161M | $187M | $259M | $222M |
| Receivables | $87M | $110M | $106M | $120M | $112M | $140M | $170M | $167M | $161M | $182M |
| Total current assets | $274M | $316M | $327M | $364M | $367M | $453M | $349M | $380M | $447M | $428M |
| Property, plant and equipment | $37M | $35M | $46M | $62M | $60M | $60M | $66M | $75M | $73M | $72M |
| Goodwill | $9M | $9M | $9M | $9M | $9M | $9M | $9M | $9M | $9M | $9M |
| Total assets | $404M | $440M | $469M | $563M | $580M | $684M | $587M | $647M | $777M | $778M |
| Total current liabilities | $80M | $93M | $98M | $124M | $117M | $153M | $159M | $162M | $163M | $178M |
| Total liabilities | $130M | $151M | $155M | $213M | $219M | $267M | $266M | $291M | $356M | $387M |
| Shareholders' equity | $273M | $289M | $314M | $350M | $361M | $417M | $321M | $356M | $421M | $390M |
| Net debt | -$115M | -$125M | -$127M | -$176M | -$198M | -$298M | -$161M | -$187M | -$259M | -$222M |
Cash flow
Fiscal years, from Exponent's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $67M | $68M | $91M | $108M | $103M | $125M | $94M | $127M | $145M | $132M |
| Capital spending | $14M | $5M | $16M | $23M | $5M | $7M | $12M | $16M | $7M | $9M |
| Free cash flow | $53M | $63M | $75M | $85M | $98M | $118M | $82M | $111M | $138M | $122M |
| Stock-based compensation | $13M | $16M | $17M | $17M | $17M | $19M | $20M | $20M | $23M | $24M |
| Dividends paid | $19M | $22M | $27M | $34M | $40M | $43M | $49M | $54M | $58M | $62M |
| Share buybacks (net) | -$24M | -$12M | -$28M | -$22M | -$40M | -$7M | -$156M | -$24M | -$6M | -$97M |
| Free cash flow margin | 16.7% | 18.1% | 19.7% | 20.4% | 24.6% | 25.3% | 15.9% | 20.7% | 24.6% | 21.0% |
| Dividends per share | $0.35 | $0.40 | $0.50 | $0.62 | $0.75 | $0.81 | $0.94 | $1.05 | $1.13 | $1.20 |
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Open EXPO in InvestinglyQuestions
What was Exponent's revenue in 2025?
$582M in fiscal 2025, from its 10-K filing.
How much free cash flow does Exponent generate?
$122M in fiscal 2025 (operating cash flow minus capital spending).
From Exponent's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.