Zacks Industry Outlook FTI, Exponent and CBIZ
For Immediate Release
Chicago, IL – December 18, 2025 – Today, Zacks Equity Research Equity areas FTI Consulting, Inc. FCN, Exponent, Inc. EXPO and CBIZ, Inc. CBZ.
Industry: Consulting Services
Economic strength, encouraging service activities and the success of the work-from-home trend enable Zacks Consulting Services industry players to support the demand environment.
Driven by these positives, investors interested in the industry would do well to consider including stocks like FTI Consulting, Inc., Exponent, Inc. and CBIZ, Inc. in their portfolios.
About the Industry
Companies grouped under the Consulting Services category offer professional advice in management, IT, human resources, environmental regulations, logistics and marketing and real estate, serving multiple end markets. The space includes prominent names such as Accenture and Gartner.
The industry focuses on channeling money and efforts toward more effective operational components, such as technology, digital transformation and data-driven decision-making. To position themselves suitably in the post-pandemic era and better utilize the opportunities that an economic recovery will bring, service providers are increasing their efforts to formulate and reassess strategic initiatives, identify sources of demand and target end markets.
What's Shaping the Future of the Consulting Services Industry?
Exponential Growth:This multi-billion-dollar industry has entered a trajectory of exponential expansion since the 2008 financial crisis, fueled by digital transformation and innovation-driven efficiencies. The trend has sustained steady revenues, profits, and cash-flow growth, enabling most industry players to distribute stable dividends.
Economic Recovery: The sector is a major beneficiary of the broader economy and increasingly digital-driven service activities. According to the third estimate released by the Bureau of Economic Analysis, the economy remained resilient, with GDP growing 3.8% in the second quarter of 2025 against a 0.6% decline in the first quarter. Non-manufacturing activities retained strength, as evidenced by the Services PMI, which stayed above the 50% threshold in November for the ninth time in 2025.
Strong Demand Environment: The consulting services industry remains among the least disrupted by recent global uncertainties. Even in volatile conditions, organizations seek extensive guidance on safeguarding their workforce while strengthening ties with consumers and shareholders. The industry was an early pioneer of remote collaboration, now embedded in the new normal. Its work model allows players to operate efficiently, increasingly powered by AI-driven insights, digital platforms, and agile delivery frameworks.
Zacks Industry Rank Indicates Bright Prospects
The Consulting Services industry, which is housed within the broader Business Services sector, currently carries a Zacks Industry Rank of #80. This rank places it in the top 33% of 243 Zacks industries.
The group’s Zacks Industry Rank, which is the average of the Zacks Rank of all the member stocks, indicates solid near-term growth prospects. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than two to one.
Before we present a few stocks that you may want to consider for your portfolio, let’s take a look at the industry’s recent stock market performance and current valuation.
Industry's Price Performance
The Consulting Services industry has underperformed the S&P 500 composite and the broader sector in the past year. The industry has declined 27% against the S&P 500 composite’s gain of 18% and the broader sector’s 9% fall.
Industry's Current Valuation
On the basis of the forward 12-month price-to-earnings (P/E), which is a commonly used multiple for valuing consulting services companies, we see that the industry is currently trading at 19.76X, above the S&P 500’s 23.3X and the sector’s 20.56X.
Over the past five years, the industry has traded as high as 31.53X and as low as 19.02X, with a median of 26.6X.
3 Consulting Services Stocks to Consider
FTI Consulting: The company’s diversified offerings and international operations strengthen top-line growth prospects. In 2024, the company generated nearly 36% of its revenues from its international operations. The broad range of practices and services, diversified revenue streams, specialized industry expertise and global reach differentiate FTI Consulting from its competitors. This diversification enables the company to mitigate the impacts of economic cycles, crises, events, and changes in a particular practice, industry, or country. FCN's revenues have grown at a compound annual growth rate of 8.5% from 2020 to 2024.
The Zacks Consensus Estimate for the company’s 2025 EPS has increased 4.3% in the past 60 days to $8.43. FCN currently carries a Zacks Rank #2 (Buy). The stock gained 6% in the past month. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Exponent: Technological innovation continues to raise both complexity and safety expectations, and Exponent is well-positioned to capitalize on these shifts. With a strong foundation of talent and deep multidisciplinary expertise, the company delivered year-over-year growth in dispute-related activities across construction, automotive and medical devices.
Proactive risk management work in the utilities sector further supported performance, offsetting softer demand in chemical regulatory engagements. Encouragingly, momentum is building in early-stage work tied to digital health, AI usability, and distributed energy systems, areas with substantial growth potential. These drivers underscore Exponent’s ability to achieve sustainable growth and create long-term shareholder value.
The Zacks Consensus Estimate for the company’s 2025 EPS has increased 4.6% in the past 60 days to $2.06. The stock has surged 8% in the past month. EXPO currently carries a Zacks Rank #2.
CBIZ: With its service breadth and specialized expertise, this provider of financial, insurance and advisory services has established itself as one of the largest professional services providers for middle-market businesses, solidifying its competitive edge and long-term growth potential.
CBIZ is entering a strong growth phase, fueled by strategic expansion and a reinforced market position. The integration of Marcum is expected to unlock new synergies, enhance service offerings, and strengthen relationships with clients and stakeholders. The Marcum transaction significantly expands CBIZ’s capabilities and client base, positioning the firm for broader market reach and cross-selling opportunities.
The Zacks Consensus Estimate for the company’s 2025 EPS has increased marginally in the past 60 days to $3.62. The stock has gained 7% in the past month. CBIZ currently carries a Zacks Rank #2.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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FTI Consulting, Inc. (FCN): Free Stock Analysis Report
CBIZ, Inc. (CBZ): Free Stock Analysis Report
Exponent, Inc. (EXPO): Free Stock Analysis Report
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