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Scientific and engineering consulting firm investigating product failures and providing expert litigation support.
Scientific and engineering consulting firm investigating product failures and providing expert litigation support.
Bills clients for its consultants' time, so revenue grows with the number of staff and how many hours they bill. Most consultants hold advanced degrees in science and engineering, and independence from the client is part of what it sells.
Moat: narrow (brand, IP / patents). Reputation and specialized multidisciplinary scientific expertise are hard to replicate quickly.
Headquarters: Menlo Park, California, US · Founded: 1967 · Employees: 1,212
Size Exponent (EXPO) is a United States Industrials company (Engineering & Construction) with a market value of $3.99B, the 1344th largest of 3,117 United States companies the cockpit tracks. Shares closed at $84.02 on 6 Nov 2026.
Performance Over six months the shares gained 36.8%, against -14.1% for the median peer and -1.1% for the United States market (cap-weighted) — 2nd highest of 21 in its peer set.
Growth Revenue grew 15.3% over the last twelve months (peer median +6.9%); the operating margin is 21.3% (peer median 8.3%).
Valuation It trades at 32.6× forward earnings against a peer median of 18.1× (4th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 11% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is +3 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 32.3 points above its cost of capital (8.2% WACC).
Short interest Short interest is 6.0% of the free float (15 Oct 2026).
Next results Next results expected around 4 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $659M | $582M | $559M | $537M | $513M |
| Revenue growth | — | +4% | +4% | +5% | — |
| Gross profit | $168M | $145M | $142M | $136M | $165M |
| EBITDA | $151M | $130M | $129M | $120M | $148M |
| Net income | $115M | $106M | $109M | $100M | $102M |
| Free cash flow | n/a | $122M | $138M | $111M | $81.8M |
| Capital expenditure | n/a | $9.39M | $6.94M | $16.4M | $12.0M |
| Total debt | $81.1M | $82.8M | $81.5M | $28.3M | $18.6M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Exponent EXPO | $3.99B | +37% | +15% | 21% | 32.6× | 10.8% |
| CRA International CRAI | $1.24B | +42% | +11% | 10% | 22.4× | n/a |
| ICF International ICFI | $1.43B | +14% | -8% | 8% | 10.8× | -2.2% |
| FTI Consulting FCN | $5.33B | +19% | +8% | 10% | 18.7× | -3.6% |
| Huron Consulting HURN | $2.63B | +39% | +12% | 12% | 16.5× | -4.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | EXPO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +20.4% | -5.9% | 2nd highest of 21 |
| 6-month return | +36.8% | -14.1% | 2nd highest of 21 |
| Distance from 52-week high | -7.2% | -41.0% | 3rd highest of 21 |
| Revenue growth (TTM) | +15.3% | +6.9% | 9th highest of 21 |
| Operating margin | 21.3% | 8.3% | 5th highest of 21 |
| Forward P/E | 32.6× | 18.1× | 4th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 10.8% | 4.9% | 6th most demanding of 16 |
| Growth delivered (Del g) | +7.8% | +11.5% | 5th lowest of 16 |
| Hurdle (Req g minus delivered) | +3.0 pp | -5.9 pp | 3rd most demanding of 16 |
| ROIC minus cost of capital | +32.3 pp | +2.4 pp | highest of 19 |
| EV / EBITDA | 26.3× | 10.2× | most expensive of 12 |
| Net debt / EBITDA | -0.2× | 2.1× | 5th least indebted of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Exponent EXPO | United States | $3.99B | +37% | +15% | 21% | 32.6× | 10.8% | +7.8% |
| Zhejiang Weiming Environment Protection 603568.SS | China | $4.01B | -27% | -25% | 36% | 11.0× | 6.4% | +15.0% |
| Guangdong Provincial Expressway Development 000429.SZ | China | $4.01B | +9% | +1% | 58% | 18.2× | n/a | n/a |
| Wuxi Taiji Industry 600667.SS | China | $3.98B | +32% | -14% | 3% | 21.9× | 13.0% | +11.5% |
| Everus Construction ECG | United States | $3.91B | -53% | +33% | 8% | 12.2× | 13.9% | +11.5% |
| China Everbright Environment 0257.HK | Hong Kong | $3.91B | -11% | -5% | 29% | 7.0× | -0.1% | -8.5% |
| MYR MYRG | United States | $4.09B | -40% | +23% | 6% | 18.1× | 14.0% | +10.2% |
| Argan AGX | United States | $3.89B | -59% | +29% | 15% | 20.5× | 0.3% | +19.2% |
| Guangdong Hongda 002683.SZ | China | $3.86B | -7% | +15% | 10% | 23.7× | 4.9% | +26.1% |
| Koninklijke BAM Groep BAMNB.AS | Netherlands | $3.85B | +37% | +7% | 3% | 11.5× | -5.2% | +0.8% |
| L&K Engineering 6139.TW | Taiwan | $3.81B | -23% | +78% | 17% | 6.5× | -9.1% | +41.0% |
| China Nuclear Engineering and Construction 601611.SS | China | $4.22B | -29% | -14% | 4% | 26.9× | n/a | n/a |
| Offshore Oil Engineering 600583.SS | China | $4.22B | -6% | +7% | 8% | 12.1× | n/a | n/a |
| Rail Vikas Nigam RVNL.NS | India | $4.27B | -37% | +5% | 4% | 46.0× | n/a | n/a |
| China Southern Power Grid Technology 688248.SS | China | $3.71B | -20% | +28% | 12% | 47.6× | 25.8% | +27.0% |
| Construction Partners ROAD | United States | $4.38B | -45% | +42% | 9% | 26.5× | 12.5% | +29.1% |
| Arcadis ARCAD.AS | Netherlands | $4.42B | +31% | -1% | 6% | 15.0× | 5.5% | +8.1% |
| Central New Energy 1735.HK | Hong Kong | $4.42B | -11% | +76% | 1% | 63.1× | n/a | n/a |
| INFRONEER 5076.T | Japan | $4.44B | +2% | +44% | 6% | 6.2× | 0.0% | +10.7% |
| Sacyr SCYR.MC | Spain | $3.58B | -14% | +6% | 24% | 20.5× | -5.4% | +0.5% |
| Comsys 1721.T | Japan | $3.55B | -15% | +4% | 8% | 13.3× | -0.7% | +2.3% |