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Exponent, Inc.

EXPO Industrials Engineering & Construction

Exponent, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $582.0 million, up 4.21% from fiscal 2024.

Revenue
+18.1%
EPS
+16.9%
Free cash flow
−14.2%

Quarter to September 2026, against a year earlier

85.55 1.88 −2.15%
Market cap
$4.1B
P/E
36.8×
Fwd P/E
34.0×
Dividend yield
1.44%
F-score
5/9
Altman Z
8.32
Beneish M
−2.52
Dividend safety
80/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.01
Sold, $m 2.73
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — 1 — —
Sell 1 1 2 1 — 5 1 1 1 — — 1
Insider Ownership 2.52%

Capital & Financial Ratios $m

Size
Market Cap 4,080.00
Revenue ttm 659.07
Net income ttm 111.77
Free cash flow ttm 108.56
Net debt Q (114.69)
Valuation
P/E 36.83 (above 35: high)
Forward P/E 34.00
Price / sales 6.25
Forward P/S Powerpack
Price / FCF 37.93
Price / book 13.37 (above 6: high)
Financial health
Current ratio Q 1.94 (at or above 1.5: strong)
Debt / equity Q 0.00 (at or below 0.5: strong)
Interest coverage Q —
Growth
Revenue growth Q +18.09% (above 0%: growing)
Operating income growth Q +44.21% (above 0%: growing)
EPS, this year +13.94%
EPS, next year A +15.07% (at or above 15%: strong)
Revenue, next year A +5.46%
EPS, past 5 yrs +5.96%
EPS, next 5 yrs A +13.25%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 6.1×, against a ten-year median of 7.5×; over the ten years it ranged from 3.4× in 2016 to 13.5× in 2021.
P/E against its own 10 years 31.13%
10-year low 10-year high
P/S against its own 10 years 28.86%
10-year low 10-year high
P/B against its own 10 years 80.49%
10-year low 10-year high
EV/Sales against its own 10 years 31.94%
10-year low 10-year high
EV/FCF against its own 10 years 54.31%
10-year low 10-year high

Dividends raised every year since 2017

Yield
1.44%
Annual rate
1.23
Payout ratio
53.0%
Growth, 2017–25
+14.0%/yr
  1. 0.42 ’17
  2. 0.46 ’18 +8
  3. 0.64 ’19 +41
  4. 0.76 ’20 +19
  5. 0.80 ’21 +5
  6. 0.96 ’22 +20
  7. 1.04 ’23 +8
  8. 1.12 ’24 +8
  9. 1.20 ’25 +7
  10. 1.24 ’26e +3
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 187 259 222 115
Receivables 167 161 182 210
Inventory — — — —
Other — — — —
380 447 428 353
2023 2024 2025 Q'26
Payables 22 22 31 35
ST’ Debt — — — —
Other — — — —
162 163 178 182

Compound Annual Growth %

10y 5y 3y
Sales 6.41% 7.79% 4.28%
Cash Flow 8.09% 4.98% 11.98%
Earnings 9.29% 5.13% 1.18%
Book Value 4.04% 1.55% 6.76%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.60 Actual 0.64

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.47 0.49 Beat by 0.02
Q1 FY26 0.56 0.59 Beat by 0.03
Q2 FY26 0.55 0.60 Beat by 0.05
Q3 FY26 0.60 0.64 Beat by 0.04
Q4 FY26 0.52 — Reports 4 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.59 0.60 0.64 — —
’25 0.52 0.52 0.55 0.49 2.07
’24 0.59 0.57 0.50 0.46 2.11
’23 0.56 0.50 0.48 0.41 1.94
’22 0.56 0.49 0.47 0.44 1.96
’21 0.58 0.48 0.46 0.38 1.90
’20 0.49 0.31 0.34 0.41 1.55
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 166 172 174 — —
’25 146 142 147 147 582
’24 145 141 136 137 559
’23 140 140 133 123 537
’22 128 130 127 127 513
’21 116 120 116 114 466
’20 106 92 99 103 400
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (1) 31 — — —
’25 7 36 33 56 132
’24 10 48 30 56 145
’23 (7) 41 22 71 127
’22 (6) 30 29 41 94
’21 1 44 25 54 125
’20 (14) 48 28 41 103
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (3) 29 — — —
’25 6 34 30 53 122
’24 9 47 28 53 138
’23 (12) 35 19 69 111
’22 (9) 27 26 38 82
’21 (1) 42 24 53 118
’20 (15) 47 27 40 98
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 315 348 380 417 400 466 513 537 559 582 659 +7.1% 614 669 733 +8.0%
Gross margin, % 94.96 94.79 93.44 93.81 94.63 93.26 90.36 92.63 92.83 92.22 88.48 (2.7) pt
EBT 69 83 93 104 97 126 132 136 147 147 160 +8.8%
EBT margin, % 21.94 23.72 24.59 24.97 24.24 26.99 25.76 25.32 26.39 25.31 24.31 +3.4 pt
Net income 47 41 72 82 83 101 102 100 109 106 112 +9.3%
Per share, $
Per share, $ Revenue 5.95 6.60 7.17 7.92 7.63 8.86 9.92 10.49 10.92 11.43 13.69 +7.5%
Earnings 0.90 0.79 1.37 1.56 1.58 1.92 1.98 1.96 2.13 2.08 2.32 +9.8%
Cash flow 1.26 1.29 1.72 2.05 1.97 2.37 1.81 2.49 2.83 2.59 0.00 +8.3%
Capex (0.27) (0.09) (0.31) (0.44) (0.10) (0.13) (0.23) (0.32) (0.14) (0.18) 0.00 (4.2%)
Free cash flow 0.99 1.20 1.42 1.61 1.88 2.24 1.58 2.17 2.69 2.40 0.00 +10.3%
Book value 5.16 5.48 5.93 6.65 6.90 7.93 6.20 6.96 8.24 7.67 6.40 +4.5%
Shares, m 53 53 53 53 52 53 52 51 51 51 49 (0.4%)
Valuation, ×
Valuation, × P/E 33.22 45.32 37.15 44.24 56.98 60.48 50.35 46.38 41.83 33.39 36.83 44.9
P/S 5.03 5.39 7.07 8.72 11.79 13.17 10.00 8.66 8.16 6.08 6.25 8.4
P/B 5.79 6.49 8.55 10.38 13.05 14.72 16.00 13.06 10.82 9.06 13.37 10.8
EV/Sales 4.48 4.83 6.52 8.16 11.19 12.53 9.68 8.31 7.69 5.69 6.07 7.9
EV/FCF 26.84 26.61 33.04 40.04 45.50 49.63 60.78 40.21 31.23 27.09 36.87 38.1
Cash, $m
Cash, $m Operating cash flow 67 68 91 108 103 125 94 127 145 132 118 +7.8%
Capex (14) (5) (16) (23) (5) (7) (12) (16) (7) (9) (10) (4.6%)
Free cash flow 53 63 75 85 98 118 82 111 138 122 109 +9.8%
Balance, $m
Balance, $m Working capital 194 222 228 240 250 300 190 218 284 250 172 +2.8%
Net debt (174) (196) (209) (232) (243) (298) (161) (187) (259) (222) (115) +2.8%
Shareholders’ equity 273 289 314 350 361 417 321 356 421 390 308 +4.0%
Returns, %
Returns, % ROA 12.00 9.80 15.91 15.98 14.44 16.02 16.11 16.27 15.31 13.64 15.77 +1.6 pt
ROIC 38.84 48.58 54.25 44.83 43.73 57.03 55.26 41.19 46.08 44.45 45.43 +5.6 pt
ROE 17.71 14.69 23.96 24.83 23.20 26.00 27.74 29.65 28.05 26.13 32.27 +8.4 pt
People
People Employees 1,023 1,075 1,122 1,201 1,168 1,215 1,313 1,320 1,168 1,212 — +1.9%
Revenue/emp, $m 0.31 0.32 0.34 0.35 0.34 0.38 0.39 0.41 0.48 0.48 — +5.1%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

Exponent, Inc. vs peers in Engineering & Construction (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
KBR KBR, Inc. $4.8B 10.8× 11.0× +5.02% (above 0%: growing) +19.93% (above 0%: growing) −14.21% (below 0%: shrinking) 14.84% 9.17% Compare
ROAD Construction Partners, Inc. $4.4B 30.2× 31.2× +28.25% (above 0%: growing) +33.75% (above 0%: growing) −19.66% (below 0%: shrinking) 16.85% 10.94% Compare
TPC Tutor Perini Corporation $4.3B 30.5× 20.2× +21.54% (above 0%: growing) +457.14% (above 0%: growing) +21.22% (above 0%: growing) 12.87% 7.29% Compare
EXPO Exponent, Inc. $4.1B 36.8× 34.0× +18.09% (above 0%: growing) +16.89% (above 0%: growing) −14.24% (below 0%: shrinking) 88.10% 24.10%
MYRG MYR Group, Inc. $3.8B 19.9× 21.2× +32.47% (above 0%: growing) +86.07% (above 0%: growing) −84.04% (below 0%: shrinking) 13.60% 6.76% Compare
ECG Everus Construction Group, Inc. $3.7B 12.8× — +40.27% (above 0%: growing) +60.60% (above 0%: growing) −20.67% (below 0%: shrinking) 14.81% 8.84% Compare
AGX Argan, Inc. $3.7B 20.3× 25.8× +61.51% (above 0%: growing) +47.86% (above 0%: growing) +178.70% (above 0%: growing) 19.33% 14.79% Compare
PRIM Primoris Services Corporation $3.2B 33.5× 57.6× −10.38% (below 0%: shrinking) −45.21% (below 0%: shrinking) −33.74% (below 0%: shrinking) 10.48% 4.86% Compare
LGN Legence Corp. $2.8B — (loss-making) 15.4× +110.74% (above 0%: growing) n/m +106.83% (above 0%: growing) 17.45% (0.52%) Compare
Median of peers $3.8B 20.3× 21.2× +30.36% +47.86% −16.93% 14.83% 8.07%

All 51 Engineering & Construction stocks →

Pay and ownership Proxy statement filed 20 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2026 3.74m 2.49m 82.00
2025 3.50m 3.47m 103.00
2023 3.56m 2.83m 101.00
2022 3.59m 2.32m 112.00
2021 3.02m 5.15m 131.00
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Read the proxy statement

Exponent, Inc. (EXPO) Latest News

31 Oct

Impact 3 · · Simply Wall St.

30 Oct

Impact 3 · · The Motley Fool transcript
Impact 3 · · Moby

29 Oct

Impact 4 · · MarketBeat
Impact 4 · · GlobeNewswire
Impact 3 · · Associated Press
Impact 3 · · Zacks
Impact 3 · · GlobeNewswire

19 Oct

Impact 3 · · Zacks

9 Oct

Impact 3 · · Simply Wall St.

29 Sep

Impact 3 · · GlobeNewswire

11 Aug

Impact 4 ·

7 Aug

Impact 3 · · The Motley Fool transcript

31 Jul

Impact 4 ·
Impact 3 · · Moby transcript

30 Jul

Impact 3 · · MarketBeat
Impact 3 ·

14 May

Impact 4 · · PR Newswire

5 May

Impact 4 · · Simply Wall St.

1 May

Impact 4 · · GuruFocus.com

30 Apr

Impact 4 · · MarketBeat
Impact 4 · · The Motley Fool transcript
Impact 4 · · StockStory
Impact 4 · · GlobeNewswire
Impact 3 · · Moby
Impact 3 · · Zacks

29 Apr

Impact 4 · · StockStory

2 Apr

Impact 3 · · StockStory

22 Mar

Impact 3 · · Simply Wall St.

6 Mar

Impact 3 · · Simply Wall St.

EXPO metrics, ten years each

stockrow.com/EXPO · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com