Industrials · Consulting Services
Price
$60.70
Market Cap
$2.9B
Employees
966
Beta
0.73
Avg Volume
544,100
CEO
Catherine Ford Corrigan
Business Description
Exponent, Inc. functions as a global leader in scientific and engineering consulting, operating through its subsidiaries. The firm's activities are divided into two principal segments: Engineering and Other Scientific, and Environmental and Health. The Engineering and Other Scientific division offers a broad spectrum of services encompassing biomechanics, biomedical sciences, structural analysis, civil engineering, construction advisory, data analytics, electrical and computer science, human factors, materials and corrosion science, mechanical engineering, polymer chemistry, thermal dynamics, and vehicle system engineering. Concurrently, the Environmental and Health segment specializes in areas such as chemical regulatory compliance, food safety, ecological and biological studies, earth and environmental sciences, and various health-related scientific fields. With expertise spanning approximately 90 technical disciplines, Exponent is dedicated to addressing complex and pressing issues for its stakeholders. Its client base is diverse, covering industries like chemicals, construction, consumer products, energy, food and beverage, government, life sciences, insurance, manufacturing, technology, heavy industrial equipment, and transportation. The company, originally established in 1967 as The Failure Group, Inc., rebranded as Exponent, Inc. in 1998, and its headquarters are located in Menlo Park, California.
Business History
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
29.18
Stock Price: $60.70
EPS (Diluted): 2.08
EPS (Diluted): 2.08
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
9.15
Stock Price: $60.70
Total Equity: $390.34M
Shares: 51,244,000
Total Equity: $390.34M
Shares: 51,244,000
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
21.81
Market Cap: $2.94B
Total Debt: $6.89M
Cash: $221.93M
EBITDA: $157.38M
Total Debt: $6.89M
Cash: $221.93M
EBITDA: $157.38M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$3.4B
Market Cap: $2.94B
Total Debt: $6.89M
Cash: $221.93M
Total Debt: $6.89M
Cash: $221.93M
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
25.0%
Gross Profit: $145.31M
Revenue: $582.01M
Revenue: $582.01M
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
20.6%
Operating Income: $119.79M
Revenue: $582.01M
Revenue: $582.01M
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
18.2%
Net Income: $106.01M
Revenue: $582.01M
Revenue: $582.01M
ROE (Profit from shareholder equity)
CALCNet Income / Total Equity
27.2%
Net Income: $106.01M
Total Equity: $390.34M
Total Equity: $390.34M
ROIC (Profit from all invested capital)
CALCNOPAT / Invested Capital
49.2%
Operating Income: $119.79M
Tax Rate: 28.0%
Equity: $390.34M
Total Debt: $6.89M
Cash: $221.93M
Tax Rate: 28.0%
Equity: $390.34M
Total Debt: $6.89M
Cash: $221.93M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
2.40
Current Assets: $427.58M
Current Liabilities: $178.00M
Current Liabilities: $178.00M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.02
Short-Term Debt: $6.89M
Long-Term Debt: $0.00
Total Debt: $6.89M
Total Equity: $390.34M
Long-Term Debt: $0.00
Total Debt: $6.89M
Total Equity: $390.34M
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$11.36
Revenue: $582.01M
Shares: 51,244,000
Shares: 51,244,000
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$7.62
Total Equity: $390.34M
Shares: 51,244,000
Shares: 51,244,000
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$2.39
Operating CF: $131.73M
CapEx: -$9.39M
Shares: 51,244,000
CapEx: -$9.39M
Shares: 51,244,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
1.7%
Last Dividend: N/A
Stock Price: $60.70
Stock Price: $60.70
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $106.01M
Net Income: $106.01M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares EXPO against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 21, 2026 7:30pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2025 | 2026 |
|---|---|---|---|---|---|
| Revenue | $466.3M | $513.3M | $536.8M | $558.5M | $582.0M |
| Cost of Revenue | $342.1M | $348.8M | $401.0M | $416.2M | $436.7M |
| Gross Profit | $124.2M | $164.5M | $135.8M | $142.3M | $145.3M |
| Operating Expenses | $15.3M | $23.7M | $24.4M | $22.7M | $25.5M |
| Operating Income | $108.9M | $140.8M | $111.3M | $119.6M | $119.8M |
| Net Income | $101.2M | $102.3M | $100.3M | $109.0M | $106.0M |
| EBITDA | $132.3M | $139.3M | $144.8M | $157.1M | $157.4M |
| EPS | $1.92 | $1.98 | $1.96 | $2.13 | $2.08 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 21, 2026 7:30pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2025 | 2026 |
|---|---|---|---|---|---|
| Cash & Equivalents | $297.7M | $161.5M | $187.2M | $258.9M | $221.9M |
| Total Current Assets | $452.8M | $349.2M | $379.5M | $446.9M | $427.6M |
| Total Assets | $683.7M | $586.7M | $646.8M | $777.3M | $808.6M |
| Current Liabilities | $153.0M | $159.0M | $161.9M | $163.2M | $178.0M |
| Long-Term Debt | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $266.7M | $265.9M | $290.7M | $356.2M | $418.3M |
| Total Equity | $417.1M | $320.8M | $356.1M | $421.1M | $390.3M |
| Retained Earnings | $478.4M | $528.8M | $574.1M | $624.2M | $668.4M |
Cash Flow (Annual)
Last updated: Jun 21, 2026 7:30pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2025 | 2026 |
|---|---|---|---|---|---|
| Operating Cash Flow | $124.6M | $93.8M | $127.4M | $144.5M | $131.7M |
| Capital Expenditure | -$6.8M | -$12.0M | -$16.4M | -$6.9M | -$9.4M |
| Free Cash Flow | $117.7M | $81.8M | $111.0M | $137.6M | $122.3M |
| Acquisitions (net) | $0 | $0 | $0 | $0 | $0 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | -$7.0M | -$155.9M | -$24.2M | -$5.7M | -$97.1M |
| Net Change in Cash | $100.2M | -$136.2M | $25.7M | $71.8M | -$37.0M |
Analyst Estimates (Annual)
Last updated: Jun 26, 2026 12:36pm (20h ago)| Metric | 2026 | 2027 | 2028 | 2029 |
|---|---|---|---|---|
| Revenue |
$535.5M $534.7M – $536.9M
|
$583.1M $581.4M – $584.7M
|
$628.6M $623.3M – $633.9M
|
$667.4M $667.4M – $667.4M
|
| EBITDA |
$147.4M $147.2M – $147.8M
|
$160.5M $160.1M – $161.0M
|
$173.1M $171.6M – $174.5M
|
$183.8M $183.8M – $183.8M
|
| Net Income |
$108.9M $104.8M – $111.4M
|
$113.0M $112.8M – $122.7M
|
$130.2M $129.7M – $130.7M
|
$137.7M $134.6M – $146.4M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 21, 2026 7:30pm (5d ago)| Metric | 2022 | 2023 | 2025 | 2026 |
|---|---|---|---|---|
| Revenue Growth | +10.1% | +4.6% | +4.1% | +4.2% |
| Gross Profit Growth | +32.4% | -17.5% | +4.8% | +2.1% |
| Operating Income Growth | +29.3% | -21.0% | +7.4% | +0.2% |
| Net Income Growth | +1.1% | -1.9% | +8.6% | -2.7% |
| EBITDA Growth | +5.3% | +3.9% | +8.5% | +0.2% |
Dividend History (Last 20)
Last updated: Jun 21, 2026 7:30pm (5d ago)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2026-06-05 | $0.31 | 2026-04-29 | 2026-06-05 | 2026-06-18 |
| 2026-03-06 | $0.31 | 2026-02-04 | 2026-03-06 | 2026-03-20 |
| 2025-12-05 | $0.30 | 2025-10-30 | 2025-12-05 | 2025-12-19 |
| 2025-09-05 | $0.30 | 2025-07-29 | 2025-09-05 | 2025-09-19 |
| 2025-06-06 | $0.30 | 2025-04-30 | 2025-06-06 | 2025-06-20 |
| 2025-03-07 | $0.30 | 2025-02-06 | 2025-03-07 | 2025-03-21 |
| 2024-12-06 | $0.28 | 2024-10-23 | 2024-12-06 | 2024-12-20 |
| 2024-09-06 | $0.28 | 2024-07-25 | 2024-09-06 | 2024-09-20 |
| 2024-06-07 | $0.28 | 2024-04-25 | 2024-06-07 | 2024-06-21 |
| 2024-03-07 | $0.28 | 2024-02-01 | 2024-03-08 | 2024-03-22 |
| 2023-12-07 | $0.26 | 2023-10-26 | 2023-12-08 | 2023-12-22 |
| 2023-09-07 | $0.26 | 2023-07-27 | 2023-09-08 | 2023-09-22 |
| 2023-06-08 | $0.26 | 2023-04-27 | 2023-06-09 | 2023-06-23 |
| 2023-03-09 | $0.26 | 2023-02-02 | 2023-03-10 | 2023-03-24 |
| 2022-12-08 | $0.24 | 2022-10-27 | 2022-12-09 | 2022-12-23 |
| 2022-09-08 | $0.24 | 2022-07-28 | 2022-09-09 | 2022-09-23 |
| 2022-06-09 | $0.24 | 2022-04-28 | 2022-06-10 | 2022-06-24 |
| 2022-03-10 | $0.24 | 2022-02-03 | 2022-03-11 | 2022-03-25 |
| 2021-12-02 | $0.20 | 2021-10-28 | 2021-12-03 | 2021-12-17 |
| 2021-09-09 | $0.20 | 2021-07-29 | 2021-09-10 | 2021-09-24 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for EXPO — it's generated by the pipeline (
market-narrative step).
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30