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Consulting services · Industrials · Fiscal year ends Jan 1
Exponent reported revenue of $582M in the fiscal year ended Jan 2026, up 4.2% from the year before. Operating income was $120M, an operating margin of 20.6%, and net income was $106M. Operating cash flow of $132M less capital expenditure of $9M left free cash flow of $122M.
Ranks among the 10 consulting services companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Revenue | 466 | 513 | 537 | 559 | 582 |
| Operating income | 109 | 141 | 111 | 120 | 120 |
| Pre-tax income | 126 | 132 | 136 | 147 | 147 |
| Income tax | 24.6 | 29.9 | 35.6 | 38.4 | 41.3 |
| Net income | 101 | 102 | 100 | 109 | 106 |
| Diluted EPS | 1.90 | 1.96 | 1.94 | 2.11 | 2.07 |
| Diluted shares | 53.3 | 52.3 | 51.6 | 51.6 | 51.2 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | 298 | 161 | 187 | 259 | 222 |
| Receivables | 140 | 170 | 167 | 161 | 182 |
| Current assets | 453 | 349 | 380 | 447 | 428 |
| Net PP&E | 60.0 | 65.5 | 75.3 | 73.0 | 72.0 |
| Goodwill | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 |
| Total assets | 684 | 587 | 647 | 777 | 778 |
| Payables | 3.2 | 8.6 | 4.5 | 5.3 | 6.9 |
| Deferred revenue | 19.8 | 18.8 | 21.7 | 16.4 | 18.9 |
| Current liabilities | 153 | 159 | 162 | 163 | 178 |
| Total liabilities | 267 | 266 | 291 | 356 | 387 |
| Shareholders' equity | 417 | 321 | 356 | 421 | 390 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Operating cash flow | 125 | 93.8 | 127 | 145 | 132 |
| Capital expenditure | 6.8 | 12.0 | 16.4 | 6.9 | 9.4 |
| Free cash flow | 118 | 81.8 | 111 | 138 | 122 |
| Depreciation & amortisation | 6.5 | 7.1 | 8.9 | 9.7 | 10.1 |
| Stock-based compensation | 19.3 | 20.4 | 20.4 | 23.2 | 23.8 |
| Share buybacks | 7.0 | 156 | 24.2 | 5.7 | 97.1 |
| Dividends paid | 41.7 | 49.1 | 52.7 | 56.8 | 60.4 |
| Dividend per share | 0.80 | 0.96 | 1.04 | 1.12 | 1.20 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 10.1% | 4.6% | 4.1% | 4.2% |
| Operating income growth (YoY) | – | 29.3% | −21.0% | 7.4% | 0.2% |
| EPS growth (YoY) | – | 3.2% | −1.0% | 8.8% | −1.9% |
| Operating margin | 23.4% | 27.4% | 20.7% | 21.4% | 20.6% |
| Net margin | 21.7% | 19.9% | 18.7% | 19.5% | 18.2% |
| Return on equityBlank when equity is negative | 24.3% | 31.9% | 28.2% | 25.9% | 27.2% |
| ROCEEBIT ÷ (assets − current liabilities) | 20.5% | 32.9% | 23.0% | 19.5% | 20.0% |
| Free cash flow margin | 25.3% | 15.9% | 20.7% | 24.6% | 21.0% |
| Cash conversion (CFO ÷ net income) | 1.23x | 0.92x | 1.27x | 1.33x | 1.24x |
| Receivable days | 109 | 121 | 114 | 105 | 114 |
| Current ratio | 2.96x | 2.20x | 2.34x | 2.74x | 2.40x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.