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Exponent Inc Financials

EXPO
Source SEC Filings (10-K/10-Q) Updated May 8, 2026 Currency USD FYE January

This page shows Exponent Inc (EXPO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI EXPO FY2026

Exponent’s asset-light expert-services model turns steady client work into strong cash generation with little reinvestment demand.

FY2026 looked less like a reinvestment year than a working-capital squeeze: revenue reached $582M, yet operating cash flow slipped to $132M. With receivables at $182M and capex only $9.4M, free-cash-flow pressure appears tied more to slower cash collection and heavy payouts than to a business that suddenly requires more assets to grow.

Across FY2023-FY2026, operating cash flow usually ran ahead of net income, and free-cash-flow margin stayed above 20.0% in 3 of 4 years. That pattern says Exponent’s reported earnings are generally backed by cash and that maintenance investment is light, which is why dividends and buybacks can absorb most excess cash.

The balance sheet still looks liquid rather than stretched, with $222M of cash and a 2.4x current ratio in FY2026. After returning $159M through dividends and buybacks, the bigger balance-sheet change is capital allocation rather than a reinvestment buildout, and no long-term debt was reported.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 64 / 100
Financial Profile 64/100

Based on FY2026 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Exponent Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability
69

Exponent Inc has an operating margin of 20.6%, meaning the company retains $21 of operating profit per $100 of revenue. This strong profitability earns a score of 69/100, reflecting efficient cost management and pricing power. This is down from 21.4% the prior year.

Growth
40

Exponent Inc's revenue grew a modest 4.2% year-over-year to $582.0M. This slow but positive growth earns a score of 40/100.

Leverage
82

Exponent Inc carries a low D/E ratio of 0.99, meaning only $0.99 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 82/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
45

Exponent Inc's current ratio of 2.40 indicates adequate short-term liquidity, earning a score of 45/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow
80

Exponent Inc converts 21.0% of revenue into free cash flow ($122.3M). This strong cash generation earns a score of 80/100.

Returns
70

Exponent Inc earns a strong 27.2% return on equity (ROE), meaning it generates $27 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 70/100. This is up from 24.7% the prior year.

Altman Z-Score Safe
7.68

Exponent Inc scores 7.68, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($3.1B) relative to total liabilities ($387.2M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Neutral
5/9

Exponent Inc passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed
1.24x

For every $1 of reported earnings, Exponent Inc generates $1.24 in operating cash flow ($131.7M OCF vs $106.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue
$582.0M
YoY+4.2%
5Y CAGR+6.9%
10Y CAGR+7.0%

Exponent Inc generated $582.0M in revenue in fiscal year 2026. This represents an increase of 4.2% from the prior year.

EBITDA
$129.9M
YoY+0.5%
5Y CAGR+7.2%
10Y CAGR+7.9%

Exponent Inc's EBITDA was $129.9M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 0.5% from the prior year.

Net Income
$106.0M
YoY-2.7%
5Y CAGR+5.2%
10Y CAGR+10.6%

Exponent Inc reported $106.0M in net income in fiscal year 2026. This represents a decrease of 2.7% from the prior year.

EPS (Diluted)
$2.07
YoY-1.9%
5Y CAGR+6.2%
10Y CAGR+4.1%

Exponent Inc earned $2.07 per diluted share (EPS) in fiscal year 2026. This represents a decrease of 1.9% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$122.3M
YoY-11.1%
5Y CAGR+7.5%
10Y CAGR+8.2%

Exponent Inc generated $122.3M in free cash flow in fiscal year 2026, representing cash available after capex. This represents a decrease of 11.1% from the prior year.

Cash & Debt
$221.9M
YoY-9.5%
5Y CAGR+16.0%
10Y CAGR+7.7%

Exponent Inc held $221.9M in cash against $0 in long-term debt as of fiscal year 2026.

Dividends Per Share
$1.20
YoY+7.1%
5Y CAGR+13.4%
10Y CAGR+14.9%

Exponent Inc paid $1.20 per share in dividends in fiscal year 2026. This represents an increase of 7.1% from the prior year.

Shares Outstanding
49M
YoY-2.9%
5Y CAGR-0.9%
10Y CAGR+14.2%

Exponent Inc had 49M shares outstanding in fiscal year 2026. This represents a decrease of 2.9% from the prior year.

Margins & Returns

Gross Margin
N/A
Operating Margin
20.6%
YoY-0.8pp
5Y CAGR+0.2pp
10Y CAGR+1.7pp

Exponent Inc's operating margin was 20.6% in fiscal year 2026, reflecting core business profitability. This is down 0.8 percentage points from the prior year.

Net Margin
18.2%
YoY-1.3pp
5Y CAGR-1.6pp
10Y CAGR+5.2pp

Exponent Inc's net profit margin was 18.2% in fiscal year 2026, showing the share of revenue converted to profit. This is down 1.3 percentage points from the prior year.

Return on Equity
27.2%
YoY+2.5pp
5Y CAGR+1.7pp
10Y CAGR+11.2pp

Exponent Inc's ROE was 27.2% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is up 2.5 percentage points from the prior year.

Capital Allocation

R&D Spending
N/A
Share Buybacks
$97.1M
YoY+1600.4%
5Y CAGR+34.6%
10Y CAGR+14.3%

Exponent Inc spent $97.1M on share buybacks in fiscal year 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 1600.4% from the prior year.

Capital Expenditures
$9.4M
YoY+35.3%
5Y CAGR-16.4%
10Y CAGR+4.2%

Exponent Inc invested $9.4M in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents an increase of 35.3% from the prior year.

EXPO Income Statement

Metric Q2'27 Q4'26 Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25
Revenue $166.3M+12.8% $147.4M+0.2% $147.1M+3.6% $142.0M-2.4% $145.5M+6.4% $136.8M+0.4% $136.3M-3.0% $140.5M
Cost of Revenue N/A N/A N/A N/A N/A N/A N/A N/A
Gross Profit N/A N/A N/A N/A N/A N/A N/A N/A
R&D Expenses N/A N/A N/A N/A N/A N/A N/A N/A
SG&A Expenses $6.2M-7.6% $6.7M-12.3% $7.7M+24.6% $6.1M+22.7% $5.0M-12.8% $5.7M+8.2% $5.3M-12.1% $6.0M
Operating Income $41.4M+42.0% $29.1M+0.4% $29.0M+69.1% $17.2M-61.3% $44.4M+63.0% $27.3M+5.4% $25.8M-27.7% $35.7M
Interest Expense N/A N/A N/A N/A N/A N/A N/A N/A
Income Tax $12.8M+36.7% $9.3M-11.6% $10.6M+3.0% $10.3M-7.6% $11.1M+43.6% $7.7M-21.8% $9.9M-5.4% $10.5M
Net Income $29.6M+19.4% $24.8M-11.7% $28.0M+5.6% $26.6M-0.4% $26.6M+13.0% $23.6M-9.4% $26.0M-10.9% $29.2M
EPS (Diluted) $0.59 N/A $0.55+5.8% $0.520.0% $0.52 N/A $0.50-12.3% $0.57

EXPO Balance Sheet

Metric Q2'27 Q4'26 Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25
Total Assets $687.4M-11.6% $777.5M+2.1% $761.4M+0.3% $759.4M-0.5% $763.2M-1.8% $777.3M+4.5% $744.1M+4.9% $709.2M
Current Assets $340.9M-20.3% $427.6M+2.6% $416.8M-2.1% $425.7M-1.7% $432.8M-3.2% $446.9M+8.3% $412.6M+5.4% $391.3M
Cash & Equivalents $118.6M-46.6% $221.9M+7.0% $207.4M-10.5% $231.8M-5.4% $245.1M-5.3% $258.9M+17.8% $219.7M+8.1% $203.3M
Inventory N/A N/A N/A N/A N/A N/A N/A N/A
Accounts Receivable $197.3M+8.7% $181.5M-0.3% $182.0M+6.4% $171.0M+2.5% $166.8M+3.3% $161.4M-4.3% $168.6M+1.7% $165.9M
Goodwill $8.6M0.0% $8.6M0.0% $8.6M0.0% $8.6M0.0% $8.6M0.0% $8.6M0.0% $8.6M0.0% $8.6M
Total Liabilities $349.0M-9.8% $387.2M+8.0% $358.6M+8.1% $331.7M+3.1% $321.8M-9.6% $356.2M+6.7% $333.8M+5.6% $316.0M
Current Liabilities $142.2M-20.1% $178.0M+15.0% $154.8M+14.7% $135.0M+3.6% $130.3M-20.2% $163.2M+18.5% $137.7M+4.5% $131.8M
Long-Term Debt N/A N/A N/A N/A N/A N/A N/A N/A
Total Equity $338.3M-13.3% $390.3M-3.1% $402.9M-5.8% $427.8M-3.1% $441.4M+4.8% $421.1M+2.6% $410.3M+4.3% $393.2M
Retained Earnings $682.0M+2.0% $668.4M+1.5% $658.8M+2.0% $646.0M+1.7% $635.0M+1.7% $624.2M+1.5% $615.0M+1.9% $603.4M

EXPO Cash Flow Statement

Metric Q2'27 Q4'26 Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25
Operating Cash Flow -$975K-101.8% $55.6M+70.2% $32.7M-9.9% $36.2M+398.0% $7.3M-87.0% $56.1M+88.6% $29.7M-38.5% $48.3M
Capital Expenditures $2.5M-8.7% $2.7M+0.4% $2.7M+17.6% $2.3M+29.6% $1.8M-32.5% $2.6M+51.5% $1.7M+49.6% $1.1M
Free Cash Flow -$3.4M-106.5% $52.9M+76.5% $30.0M-11.7% $33.9M+515.0% $5.5M-89.7% $53.5M+90.9% $28.0M-40.7% $47.2M
Investing Cash Flow -$2.5M+8.7% -$2.7M-0.4% -$2.7M-17.6% -$2.3M-29.6% -$1.8M+32.5% -$2.6M-51.5% -$1.7M-49.6% -$1.1M
Financing Cash Flow -$99.7M-159.6% -$38.4M+29.5% -$54.5M-14.8% -$47.5M-136.8% -$20.0M-62.7% -$12.3M+4.9% -$13.0M-2.8% -$12.6M
Dividends Paid $16.6M+11.4% $14.9M-1.2% $15.1M-1.0% $15.2M-7.0% $16.4M+15.0% $14.2M+0.1% $14.2M+0.1% $14.2M
Share Buybacks $78.8M+223.0% $24.4M-39.1% $40.0M N/A N/A $1K+200.0% -$1K-100.4% $244K

EXPO Financial Ratios

Metric Q2'27 Q4'26 Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25
Gross Margin N/A N/A N/A N/A N/A N/A N/A N/A
Operating Margin 24.9%+5.1pp 19.8%+0.0pp 19.7%+7.6pp 12.1%-18.4pp 30.5%+10.6pp 19.9%+1.0pp 19.0%-6.5pp 25.4%
Net Margin 17.8%+1.0pp 16.8%-2.3pp 19.1%+0.4pp 18.7%+0.4pp 18.3%+1.1pp 17.3%-1.9pp 19.1%-1.7pp 20.8%
Return on Equity 8.7%+2.4pp 6.3%-0.6pp 7.0%+0.7pp 6.2%+0.2pp 6.0%+0.4pp 5.6%-0.8pp 6.3%-1.1pp 7.4%
Return on Assets 4.3%+1.1pp 3.2%-0.5pp 3.7%+0.2pp 3.5%+0.0pp 3.5%+0.5pp 3.0%-0.5pp 3.5%-0.6pp 4.1%
Current Ratio 2.400.0 2.40-0.3 2.69-0.5 3.15-0.2 3.32+0.6 2.74-0.3 3.00+0.0 2.97
Debt-to-Equity 1.03+0.0 0.99+0.1 0.89+0.1 0.78+0.0 0.73-0.1 0.85+0.0 0.81+0.0 0.80
FCF Margin -2.1%-37.9pp 35.9%+15.5pp 20.4%-3.5pp 23.9%+20.1pp 3.8%-35.3pp 39.1%+18.5pp 20.5%-13.0pp 33.6%

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Frequently Asked Questions

Exponent Inc (EXPO) reported $582.0M in total revenue for fiscal year 2026. This represents a 4.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Exponent Inc (EXPO) revenue grew by 4.2% year-over-year, from $558.5M to $582.0M in fiscal year 2026.

Yes, Exponent Inc (EXPO) reported a net income of $106.0M in fiscal year 2026, with a net profit margin of 18.2%.

Exponent Inc (EXPO) reported diluted earnings per share of $2.07 for fiscal year 2026. This represents a -1.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Exponent Inc (EXPO) had EBITDA of $129.9M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.

Exponent Inc (EXPO) had an operating margin of 20.6% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.

Exponent Inc (EXPO) had a net profit margin of 18.2% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.

Yes, Exponent Inc (EXPO) paid $1.20 per share in dividends during fiscal year 2026.

Exponent Inc (EXPO) has a return on equity of 27.2% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.

Exponent Inc (EXPO) generated $122.3M in free cash flow during fiscal year 2026. This represents a -11.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Exponent Inc (EXPO) generated $131.7M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.

Exponent Inc (EXPO) had $777.5M in total assets as of fiscal year 2026, including both current and long-term assets.

Exponent Inc (EXPO) invested $9.4M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.

Yes, Exponent Inc (EXPO) spent $97.1M on share buybacks during fiscal year 2026, returning capital to shareholders by reducing shares outstanding.

Exponent Inc (EXPO) had 49M shares outstanding as of fiscal year 2026.

Exponent Inc (EXPO) had a current ratio of 2.40 as of fiscal year 2026, which is generally considered healthy.

Exponent Inc (EXPO) had a debt-to-equity ratio of 0.99 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.

Exponent Inc (EXPO) had a return on assets of 13.6% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.

Exponent Inc (EXPO) has an Altman Z-Score of 7.68, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

Exponent Inc (EXPO) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Exponent Inc (EXPO) has an earnings quality ratio of 1.24x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Exponent Inc (EXPO) scores 64 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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