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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. In the quarter to June 2026, revenue grew 20.9%, EPS grew 15.4% and free cash flow fell 14.2%, each against the same quarter a year earlier. Dividend growth for five consecutive years, revenue growth for five; insiders bought in the last twelve months.

71.72 0.56 −0.77%
Market cap
$3.4B
P/E
32.2×
Fwd P/E
26.3×
Dividend yield
1.72%
F-score
5/9
Altman Z
8.32
Beneish M
−2.52
Dividend safety
80/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.01
Total sells 2.96
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — 1 —
Sell 1 1 1 2 1 — 5 1 1 1 — —
Insider Ownership 3.76%

Capital & Financial Ratios $m

Market Cap 3,440.00
Revenue 632.46
Net Income 111.77
Free Cash Flow 108.56
Net Debt (66.63)
Current Ratio 1.98 (at or above 1.5: strong)
Debt/Equity 0.00 (at or below 0.5: strong)
P/E ratio 32.16
Fwd P/E 26.30
P/S ratio 5.53
P/B ratio 12.11 (above 6: high)
Past 5Y EPS Growth 5.96%
This Y EPS Growth 11.42%
Next Y EPS Growth 14.04%
Next Y revenue growth 5.17%
Next 5Y EPS Growth 11.39%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 5.4×, 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 14.82%
10-year low 10-year high
P/S against its own 10 years 20.94%
10-year low 10-year high
P/B against its own 10 years 65.65%
10-year low 10-year high
EV/Sales against its own 10 years 25.65%
10-year low 10-year high
EV/FCF against its own 10 years 36.71%
10-year low 10-year high

Dividends

Payout Ratio 0.55
Annual Dividend Rate 1.23
Annual Dividend Yield 1.72%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 1.24
0.31
0.31
0.31
2025 1.20
0.30
0.30
0.30
0.30
2024 1.12
0.28
0.28
0.28
0.28
2023 1.04
0.26
0.26
0.26
0.26
2022 0.96
0.24
0.24
0.24
0.24
2021 0.80
0.20
0.20
0.20
0.20
2020 0.76
0.19
0.19
0.19
0.19
2019 0.64
0.16
0.16
0.16
0.16
2018 0.46
0.13
0.07
0.13
0.13
2017 0.42
0.11
0.11
0.11
0.11
2016 0.36
0.09
0.09
0.09
0.09
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 187 259 222 67
Receivables 167 161 182 219
Inventory — — — —
Other — — — —
380 447 428 312
2023 2024 2025 Q'26
Payables 22 22 31 27
ST’ Debt — — — —
Other — — — —
162 163 178 158

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%

Revenue $m

Mar Jun Sep Dec Year
’26 166 172 — — —
’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.

EPS $

Mar Jun Sep Dec Year
’26 0.59 0.60 — — —
’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.

Target Price Range

Analyst price targets

Recommendation Rating

1.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 22.41 27.88 34.90 47.10 58.03 82.13 80.97 64.61 68.70 63.81

Analyst estimates 2026–2028

Powerpack
High 32.40 38.58 54.58 72.70 91.01 127.61 118.93 112.75 115.75 97.57
People
People Employees 1,023 1,075 1,122 1,201 1,168 1,215 1,313 1,320 1,168 1,212
Revenue/emp, $m 0.31 0.32 0.34 0.35 0.34 0.38 0.39 0.41 0.48 0.48
Income, $m
Income, $m Revenue 315 348 380 417 400 466 513 537 559 582
Gross margin, % 94.96 94.79 93.44 93.81 94.63 93.26 90.36 92.63 92.83 92.22
EBT 69 83 93 104 97 126 132 136 147 147
EBT margin, % 21.94 23.72 24.59 24.97 24.24 26.99 25.76 25.32 26.39 25.31
Net income 47 41 72 82 83 101 102 100 109 106
Depreciation 6 6 6 6 7 6 7 9 10 10
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
Earnings 0.90 0.79 1.37 1.56 1.58 1.92 1.98 1.96 2.13 2.08
Cash flow 1.26 1.29 1.72 2.05 1.97 2.37 1.81 2.49 2.83 2.59
Capex (0.27) (0.09) (0.31) (0.44) (0.10) (0.13) (0.23) (0.32) (0.14) (0.18)
Free cash flow 0.99 1.20 1.42 1.61 1.88 2.24 1.58 2.17 2.69 2.40
Book value 5.16 5.48 5.93 6.65 6.90 7.93 6.20 6.96 8.24 7.67
Shares, m 53 53 53 53 52 53 52 51 51 51
Valuation, ×
Valuation, × P/E 33.22 45.32 37.15 44.24 56.98 60.48 50.35 46.38 41.83 33.39
P/S 5.03 5.39 7.07 8.72 11.79 13.17 10.00 8.66 8.16 6.08
P/B 5.79 6.49 8.55 10.38 13.05 14.72 16.00 13.06 10.82 9.06
EV/Sales 4.48 4.83 6.52 8.16 11.19 12.53 9.68 8.31 7.69 5.69
EV/FCF 26.84 26.61 33.04 40.04 45.50 49.63 60.78 40.21 31.23 27.09
Cash, $m
Cash, $m Operating cash flow 67 68 91 108 103 125 94 127 145 132
Capex (14) (5) (16) (23) (5) (7) (12) (16) (7) (9)
Free cash flow 53 63 75 85 98 118 82 111 138 122
Balance, $m
Balance, $m Working capital 194 222 228 240 250 300 190 218 284 250
Total debt — — — 24 20 15 19 — — —
Net debt (174) (196) (209) (232) (243) (298) (161) (187) (259) (222)
Shareholders’ equity 273 289 314 350 361 417 321 356 421 390
Returns, %
Returns, % ROA 12.00 9.80 15.91 15.98 14.44 16.02 16.11 16.27 15.31 13.64
ROIC 38.84 48.58 54.25 44.83 43.73 57.03 55.26 41.19 46.08 44.45
ROE 17.71 14.69 23.96 24.83 23.20 26.00 27.74 29.65 28.05 26.13
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

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
AGX Argan, Inc. $5.2B 26.9× 58.0× +61.51% (above 0%: growing) +47.86% (above 0%: growing) +178.70% (above 0%: growing) 19.33% 14.79% Compare
LGN Legence Corp. $4.9B — (loss-making) 13.0× +110.74% (above 0%: growing) n/m +106.83% (above 0%: growing) 17.45% (0.52%) Compare
GVA Granite Construction Incorporated $4.8B — (loss-making) 26.2× +29.30% (above 0%: growing) n/m +755.66% (above 0%: growing) 16.40% 8.71% Compare
ROAD Construction Partners, Inc. $4.7B 32.2× 38.5× +28.25% (above 0%: growing) +33.75% (above 0%: growing) −19.66% (below 0%: shrinking) 16.85% 10.94% Compare
KBR KBR, Inc. $4.6B 11.0× 9.6× +1.64% (above 0%: growing) +33.93% (above 0%: growing) −83.25% (below 0%: shrinking) 14.77% 8.67% Compare
MYRG MYR Group, Inc. $4.5B 26.4× 39.8× +20.15% (above 0%: growing) +88.24% (above 0%: growing) −283.31% (below 0%: shrinking) 13.19% 6.28% Compare
TPC Tutor Perini Corporation $4.1B 32.9× 19.8× +19.17% (above 0%: growing) +228.95% (above 0%: growing) −35.14% (below 0%: shrinking) 12.91% 7.19% Compare
PRIM Primoris Services Corporation $4.0B 28.4× 30.5× −10.71% (below 0%: shrinking) n/m −149.14% (below 0%: shrinking) 4.88% (1.59%) Compare
EXPO Exponent, Inc. $3.4B 32.2× 26.3× +20.89% (above 0%: growing) +15.38% (above 0%: growing) −14.24% (below 0%: shrinking) 86.74% 16.33%
Median of peers $4.7B 27.6× 28.4× +24.20% +47.86% −27.40% 15.59% 7.93%

All 51 Engineering & Construction stocks →

Exponent, Inc. (EXPO) key facts

  • Concern: Net income was $106.0 million, or $2.08 per share (basic), a net margin of 18.2%.
  • Strength: Exponent, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $582.0 million, up 4.21% from fiscal 2024.
  • Exponent, Inc. (EXPO) is an Engineering & Construction company in the Industrials sector, listed on Nasdaq.
  • As of October 16, 2026, EXPO traded at $71.72, a market capitalization of $3.4 billion.
  • At that price the stock trades at 32.2× trailing-twelve-month earnings and 5.5× sales; its P/E is higher than 15% of its own readings over the past ten years.
  • Exponent, Inc. pays an annual dividend of $1.23 per share, a yield of 1.72%, with a payout ratio of 55.2%.
  • Return on equity was 26.1% and debt-to-equity 0.00.
  • Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 8.32 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Exponent, Inc. (EXPO) Latest News

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stockrow.com/EXPO · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com