# Consulting Services — company-by-company sector analysis

> Consulting Services: FTI Consulting, Inc. owns the largest revenue base; Huron Consulting Group Inc. has the fastest current growth.

Sector Alpha — machine-written from the numbers. Data as of 2026-07-28. Not investment advice.

## Bottom line

Consulting Services has outperformed S&P 500 by 13% over 52 weeks and 8.6% over 13 weeks. 1 of 11 covered companies beat the S&P 500 on Mansfield relative strength, while 1 of 11 beat the sector itself. FTI Consulting, Inc. leads with revenue of $3,874 million, based on 7 of 13 comparable companies through Mar 2026.

### Is the Consulting Services sector outperforming S&P 500?

Consulting Services has outperformed S&P 500 by 13% over 52 weeks and 8.6% over 13 weeks. 1 of 11 covered companies beat the S&P 500 on Mansfield relative strength, while 1 of 11 beat the sector itself.

### Which Consulting Services company is largest by revenue?

FTI Consulting, Inc. leads with revenue of $3,874 million, based on 7 of 13 comparable companies through Mar 2026.

### Which Consulting Services company is growing fastest?

Huron Consulting Group Inc. has the fastest current revenue growth at 11.8%, across 7 of 13 comparable companies.

### Which Consulting Services company has the strongest 4-Factor Sector Score?

Verisk Analytics, Inc. ranks first at 54.6/100 with 82% evidence confidence. The score prioritizes research; it is not a buy recommendation.

### Which Consulting Services company reports the most CAPEX?

Equifax Inc. reports the largest latest CAPEX at $135 million, with 12 of 13 companies comparable.

### Which Consulting Services company has the least gross debt?

Etoiles Capital Group Co., Ltd has the lowest comparable gross debt at $2 million. Equifax Inc. has the highest at $5,467 million.

### Which Consulting Services company has the lowest comparable PEG?

SBC Medical Group Holdings Incorporated has the lowest comparable Guarded PEG at 0.73, among 5 of 13 companies that pass the metric’s comparability rules.

### How much history does this Consulting Services comparison include?

The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

### How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

## Sector relative strength

Consulting Services has outperformed S&P 500 by 13% over the last 52 weeks. Over 13 weeks the gap is a lead of 8.6%. 1 of 11 covered companies currently beats the S&P 500 on Mansfield relative strength, so leadership inside the sector is selective. Forrester Research, Inc. is the strongest against the sector itself at +12.4%.

13-week sector return versus NIFTY 500: 8.6%
52-week sector return versus NIFTY 500: 13%
Stocks leading NIFTY: 1/11
Stocks leading sector: 1/11

Central tension: The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Companies: 13
Combined market value: ₹69.2K Cr

## 4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

1. Verisk Analytics, Inc. (VRSK): 55/100 — Mixed-positive evidence; evidence 82%
   - Growth & earnings 22.4/35 | Capital efficiency 13.4/25 | Valuation 7.3/20 | Relative strength 11.5/20
   - Exact sum: 22.4 + 13.4 + 7.3 + 11.5 = 54.6
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2. Forrester Research, Inc. (FORR): 54/100 — Thin evidence · provisional; evidence 59%
   - Growth & earnings 22.1/35 | Capital efficiency 6.1/25 | Valuation 8.5/20 | Relative strength 17.0/20
   - Exact sum: 22.1 + 6.1 + 8.5 + 17 = 53.7
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
3. Equifax Inc. (EFX): 53/100 — Thin evidence · provisional; evidence 59%
   - Growth & earnings 20.5/35 | Capital efficiency 12.8/25 | Valuation 9.8/20 | Relative strength 10.0/20
   - Exact sum: 20.5 + 12.8 + 9.8 + 10 = 53.1
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
4. FTI Consulting, Inc. (FCN): 50/100 — Mixed-negative evidence; evidence 82%
   - Growth & earnings 19.3/35 | Capital efficiency 12.8/25 | Valuation 11.4/20 | Relative strength 6.4/20
   - Exact sum: 19.3 + 12.8 + 11.4 + 6.4 = 49.9
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5. Huron Consulting Group Inc. (HURN): 47/100 — Mixed-negative evidence; evidence 76%
   - Growth & earnings 19.1/35 | Capital efficiency 9.1/25 | Valuation 13.9/20 | Relative strength 4.8/20
   - Exact sum: 19.1 + 9.1 + 13.9 + 4.8 = 46.9
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
6. Resources Connection, Inc. (RGP): 46/100 — Thin evidence · provisional; evidence 59%
   - Growth & earnings 20.5/35 | Capital efficiency 10.2/25 | Valuation 9.5/20 | Relative strength 6.1/20
   - Exact sum: 20.5 + 10.2 + 9.5 + 6.1 = 46.3
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
7. ICF International, Inc. (ICFI): 45/100 — Mixed-negative evidence; evidence 76%
   - Growth & earnings 12.3/35 | Capital efficiency 11.5/25 | Valuation 10.7/20 | Relative strength 10.3/20
   - Exact sum: 12.3 + 11.5 + 10.7 + 10.3 = 44.8
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
8. SBC Medical Group Holdings Incorporated (SBC): 42/100 — Mixed-negative evidence; evidence 76%
   - Growth & earnings 6.5/35 | Capital efficiency 16.2/25 | Valuation 16.2/20 | Relative strength 3.0/20
   - Exact sum: 6.5 + 16.2 + 16.2 + 3 = 41.9
   - Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
9. Booz Allen Hamilton Holding Corporation (BAH): 41/100 — Thin evidence · provisional; evidence 59%
   - Growth & earnings 18.0/35 | Capital efficiency 10.1/25 | Valuation 11.5/20 | Relative strength 1.4/20
   - Exact sum: 18 + 10.1 + 11.5 + 1.4 = 41
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
10. Zi Yun Dong Fang Limited (YLY): 54/100 — Thin evidence · provisional; evidence 9%
   - Growth & earnings 17.5/35 | Capital efficiency 16.8/25 | Valuation 10.0/20 | Relative strength 10.0/20
   - Exact sum: 17.5 + 16.8 + 10 + 10 = 54.3
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
11. CRA International, Inc. (CRAI): 46/100 — Thin evidence · provisional; evidence 48%
   - Growth & earnings 14.5/35 | Capital efficiency 11.3/25 | Valuation 8.8/20 | Relative strength 11.2/20
   - Exact sum: 14.5 + 11.3 + 8.8 + 11.2 = 45.8
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
12. Etoiles Capital Group Co., Ltd (EFTY): 45/100 — Thin evidence · provisional; evidence 20%
   - Growth & earnings 15.1/35 | Capital efficiency 9.8/25 | Valuation 10.0/20 | Relative strength 10.0/20
   - Exact sum: 15.1 + 9.8 + 10 + 10 = 44.9
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
13. Enigmatig Limited (EGG): 42/100 — Thin evidence · provisional; evidence 26%
   - Growth & earnings 16.0/35 | Capital efficiency 8.6/25 | Valuation 10.0/20 | Relative strength 6.9/20
   - Exact sum: 16 + 8.6 + 10 + 6.9 = 41.5
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

## Revenue Scale & Growth Durability

What the numbers say: FTI Consulting, Inc. is the scale leader at $3,874 million, 24.8% ahead of Verisk Analytics, Inc.. Huron Consulting Group Inc.'s growth is 11.8% from a $1,747 million base, with 19 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

Investor read: FTI Consulting, Inc. is the scale benchmark; Huron Consulting Group Inc. is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: FTI Consulting, Inc.'s growth falls below Huron Consulting Group Inc.'s for two consecutive comparable reports while operating margin also compresses.

Evidence: FTI Consulting, Inc. · $3,874 million | 24.8% versus #2 · Verisk Analytics, Inc. | 5/8 recent comparable periods | 7/13 companies · 190 observations

Definition: Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

### Revenue — largest
1. FTI Consulting, Inc. (FCN): ₹3.9K Cr
2. Verisk Analytics, Inc. (VRSK): ₹3.1K Cr
3. ICF International, Inc. (ICFI): ₹1.8K Cr
4. Huron Consulting Group Inc. (HURN): ₹1.7K Cr
5. Resources Connection, Inc. (RGP): ₹485 Cr

### Revenue growth — fastest growers
1. Huron Consulting Group Inc. (HURN): 12%
2. Verisk Analytics, Inc. (VRSK): 5.9%
3. FTI Consulting, Inc. (FCN): 5.6%
4. Forrester Research, Inc. (FORR): -7.3%
5. ICF International, Inc. (ICFI): -9.4%

### 20-quarter Revenue history
- VRSK: Sep 2021 ₹759 Cr | Dec 2021 ₹766 Cr | Mar 2022 ₹644 Cr | Jun 2022 ₹613 Cr | Sep 2022 ₹610 Cr | Dec 2022 ₹630 Cr | Mar 2023 ₹652 Cr | Jun 2023 ₹675 Cr | Sep 2023 ₹678 Cr | Dec 2023 ₹677 Cr | Mar 2024 ₹704 Cr | Jun 2024 ₹717 Cr | Sep 2024 ₹725 Cr | Dec 2024 ₹736 Cr | Mar 2025 ₹753 Cr | Jun 2025 ₹773 Cr | Sep 2025 ₹768 Cr | Dec 2025 ₹779 Cr | Mar 2026 ₹783 Cr | Jun 2026 —
- EFX: Sep 2021 ₹1.2K Cr | Dec 2021 ₹1.3K Cr | Mar 2022 ₹1.4K Cr | Jun 2022 ₹1.3K Cr | Sep 2022 ₹1.2K Cr | Dec 2022 ₹1.2K Cr | Mar 2023 ₹1.3K Cr | Jun 2023 ₹1.3K Cr | Sep 2023 ₹1.3K Cr | Dec 2023 ₹1.3K Cr | Mar 2024 ₹1.4K Cr | Jun 2024 ₹1.4K Cr | Sep 2024 ₹1.4K Cr | Dec 2024 ₹1.4K Cr | Mar 2025 ₹1.4K Cr | Jun 2025 ₹1.5K Cr | Sep 2025 ₹1.5K Cr | Dec 2025 ₹1.6K Cr | Mar 2026 ₹1.6K Cr | Jun 2026 —
- BAH: Sep 2021 ₹2.1K Cr | Dec 2021 ₹2.0K Cr | Mar 2022 ₹2.2K Cr | Jun 2022 ₹2.3K Cr | Sep 2022 ₹2.3K Cr | Dec 2022 ₹2.3K Cr | Mar 2023 ₹2.4K Cr | Jun 2023 ₹2.7K Cr | Sep 2023 ₹2.7K Cr | Dec 2023 ₹2.6K Cr | Mar 2024 ₹2.8K Cr | Jun 2024 ₹2.9K Cr | Sep 2024 ₹3.1K Cr | Dec 2024 ₹2.9K Cr | Mar 2025 ₹3.0K Cr | Jun 2025 ₹2.9K Cr | Sep 2025 ₹2.9K Cr | Dec 2025 ₹2.6K Cr | Mar 2026 ₹2.8K Cr | Jun 2026 —
- FCN: Sep 2021 ₹702 Cr | Dec 2021 ₹676 Cr | Mar 2022 ₹724 Cr | Jun 2022 ₹755 Cr | Sep 2022 ₹776 Cr | Dec 2022 ₹774 Cr | Mar 2023 ₹807 Cr | Jun 2023 ₹865 Cr | Sep 2023 ₹893 Cr | Dec 2023 ₹925 Cr | Mar 2024 ₹929 Cr | Jun 2024 ₹949 Cr | Sep 2024 ₹926 Cr | Dec 2024 ₹895 Cr | Mar 2025 ₹898 Cr | Jun 2025 ₹944 Cr | Sep 2025 ₹956 Cr | Dec 2025 ₹991 Cr | Mar 2026 ₹983 Cr | Jun 2026 —
- HURN: Sep 2021 ₹228 Cr | Dec 2021 ₹261 Cr | Mar 2022 ₹265 Cr | Jun 2022 ₹281 Cr | Sep 2022 ₹292 Cr | Dec 2022 ₹321 Cr | Mar 2023 ₹326 Cr | Jun 2023 ₹355 Cr | Sep 2023 ₹367 Cr | Dec 2023 ₹350 Cr | Mar 2024 ₹363 Cr | Jun 2024 ₹381 Cr | Sep 2024 ₹378 Cr | Dec 2024 ₹399 Cr | Mar 2025 ₹404 Cr | Jun 2025 ₹412 Cr | Sep 2025 ₹441 Cr | Dec 2025 ₹442 Cr | Mar 2026 ₹452 Cr | Jun 2026 —
- ICFI: Sep 2021 ₹394 Cr | Dec 2021 ₹388 Cr | Mar 2022 ₹413 Cr | Jun 2022 ₹423 Cr | Sep 2022 ₹468 Cr | Dec 2022 ₹476 Cr | Mar 2023 ₹483 Cr | Jun 2023 ₹500 Cr | Sep 2023 ₹502 Cr | Dec 2023 ₹478 Cr | Mar 2024 ₹494 Cr | Jun 2024 ₹512 Cr | Sep 2024 ₹517 Cr | Dec 2024 ₹496 Cr | Mar 2025 ₹488 Cr | Jun 2025 ₹476 Cr | Sep 2025 ₹465 Cr | Dec 2025 ₹444 Cr | Mar 2026 ₹438 Cr | Jun 2026 —
- CRAI: Sep 2021 ₹148 Cr | Dec 2021 ₹136 Cr | Mar 2022 ₹135 Cr | Jun 2022 ₹148 Cr | Sep 2022 ₹149 Cr | Dec 2022 ₹148 Cr | Mar 2023 — | Jun 2023 ₹153 Cr | Sep 2023 ₹162 Cr | Dec 2023 — | Mar 2024 ₹172 Cr | Jun 2024 ₹171 Cr | Sep 2024 ₹168 Cr | Dec 2024 — | Mar 2025 — | Jun 2025 ₹182 Cr | Sep 2025 ₹187 Cr | Dec 2025 ₹186 Cr | Mar 2026 — | Jun 2026 ₹201 Cr
- SBC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 ₹47 Cr | Dec 2023 ₹62 Cr | Mar 2024 ₹55 Cr | Jun 2024 ₹53 Cr | Sep 2024 ₹53 Cr | Dec 2024 ₹44 Cr | Mar 2025 ₹47 Cr | Jun 2025 ₹43 Cr | Sep 2025 ₹43 Cr | Dec 2025 ₹40 Cr | Mar 2026 ₹43 Cr | Jun 2026 —
- EFTY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 ₹1 Cr | Sep 2024 — | Dec 2024 ₹2 Cr | Mar 2025 — | Jun 2025 ₹2 Cr | Sep 2025 — | Dec 2025 ₹1 Cr | Mar 2026 — | Jun 2026 —
- FORR: Sep 2021 ₹118 Cr | Dec 2021 ₹134 Cr | Mar 2022 ₹125 Cr | Jun 2022 ₹148 Cr | Sep 2022 ₹128 Cr | Dec 2022 ₹137 Cr | Mar 2023 ₹114 Cr | Jun 2023 ₹136 Cr | Sep 2023 ₹113 Cr | Dec 2023 ₹118 Cr | Mar 2024 ₹100 Cr | Jun 2024 ₹122 Cr | Sep 2024 ₹103 Cr | Dec 2024 ₹108 Cr | Mar 2025 ₹90 Cr | Jun 2025 ₹112 Cr | Sep 2025 ₹94 Cr | Dec 2025 ₹101 Cr | Mar 2026 ₹85 Cr | Jun 2026 —
- RGP: Sep 2021 ₹183 Cr | Dec 2021 ₹200 Cr | Mar 2022 ₹205 Cr | Jun 2022 ₹217 Cr | Sep 2022 ₹204 Cr | Dec 2022 ₹200 Cr | Mar 2023 ₹187 Cr | Jun 2023 ₹184 Cr | Sep 2023 ₹170 Cr | Dec 2023 ₹163 Cr | Mar 2024 ₹151 Cr | Jun 2024 ₹148 Cr | Sep 2024 ₹137 Cr | Dec 2024 ₹146 Cr | Mar 2025 ₹129 Cr | Jun 2025 ₹139 Cr | Sep 2025 ₹120 Cr | Dec 2025 ₹118 Cr | Mar 2026 ₹108 Cr | Jun 2026 —
- EGG: Sep 2021 — | Dec 2021 — | Mar 2022 ₹1 Cr | Jun 2022 — | Sep 2022 ₹2 Cr | Dec 2022 — | Mar 2023 ₹3 Cr | Jun 2023 — | Sep 2023 ₹2 Cr | Dec 2023 — | Mar 2024 ₹1 Cr | Jun 2024 — | Sep 2024 ₹3 Cr | Dec 2024 — | Mar 2025 ₹3 Cr | Jun 2025 — | Sep 2025 ₹2 Cr | Dec 2025 — | Mar 2026 — | Jun 2026 —

### 20-quarter Revenue growth history
- VRSK: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -18% | Sep 2022 -20% | Dec 2022 -18% | Mar 2023 1.2% | Jun 2023 10% | Sep 2023 11% | Dec 2023 7.5% | Mar 2024 8.0% | Jun 2024 6.2% | Sep 2024 6.9% | Dec 2024 8.7% | Mar 2025 7.0% | Jun 2025 7.8% | Sep 2025 5.9% | Dec 2025 5.8% | Mar 2026 4.0% | Jun 2026 —
- EFX: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 6.6% | Sep 2022 1.7% | Dec 2022 -4.4% | Mar 2023 -4.5% | Jun 2023 0.1% | Sep 2023 6.0% | Dec 2023 11% | Mar 2024 6.7% | Jun 2024 8.6% | Sep 2024 9.3% | Dec 2024 6.9% | Mar 2025 3.8% | Jun 2025 7.4% | Sep 2025 7.1% | Dec 2025 9.3% | Mar 2026 14% | Jun 2026 —
- BAH: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 13% | Sep 2022 9.2% | Dec 2022 12% | Mar 2023 8.7% | Jun 2023 18% | Sep 2023 16% | Dec 2023 13% | Mar 2024 14% | Jun 2024 11% | Sep 2024 18% | Dec 2024 14% | Mar 2025 7.4% | Jun 2025 -0.6% | Sep 2025 -8.1% | Dec 2025 -10% | Mar 2026 -6.5% | Jun 2026 —
- FCN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 6.2% | Sep 2022 11% | Dec 2022 15% | Mar 2023 11% | Jun 2023 15% | Sep 2023 15% | Dec 2023 20% | Mar 2024 15% | Jun 2024 9.7% | Sep 2024 3.7% | Dec 2024 -3.2% | Mar 2025 -3.3% | Jun 2025 -0.5% | Sep 2025 3.2% | Dec 2025 11% | Mar 2026 9.5% | Jun 2026 —
- HURN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 21% | Sep 2022 28% | Dec 2022 23% | Mar 2023 23% | Jun 2023 26% | Sep 2023 26% | Dec 2023 9.0% | Mar 2024 11% | Jun 2024 7.3% | Sep 2024 3.0% | Dec 2024 14% | Mar 2025 11% | Jun 2025 8.1% | Sep 2025 17% | Dec 2025 11% | Mar 2026 12% | Jun 2026 —
- ICFI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 7.6% | Sep 2022 19% | Dec 2022 23% | Mar 2023 17% | Jun 2023 18% | Sep 2023 7.3% | Dec 2023 0.4% | Mar 2024 2.3% | Jun 2024 2.4% | Sep 2024 3.0% | Dec 2024 3.8% | Mar 2025 -1.2% | Jun 2025 -7.0% | Sep 2025 -10% | Dec 2025 -10% | Mar 2026 -10% | Jun 2026 —
- CRAI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 0.7% | Dec 2022 8.8% | Mar 2023 — | Jun 2023 3.4% | Sep 2023 8.7% | Dec 2023 — | Mar 2024 — | Jun 2024 12% | Sep 2024 3.7% | Dec 2024 — | Mar 2025 — | Jun 2025 6.4% | Sep 2025 11% | Dec 2025 — | Mar 2026 — | Jun 2026 10%
- SBC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 13% | Dec 2024 -29% | Mar 2025 -15% | Jun 2025 -19% | Sep 2025 -19% | Dec 2025 -9.1% | Mar 2026 -8.5% | Jun 2026 —
- EFTY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 100% | Sep 2025 — | Dec 2025 -50% | Mar 2026 — | Jun 2026 —
- FORR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 15% | Sep 2022 8.5% | Dec 2022 2.2% | Mar 2023 -8.8% | Jun 2023 -8.1% | Sep 2023 -12% | Dec 2023 -14% | Mar 2024 -12% | Jun 2024 -10% | Sep 2024 -8.9% | Dec 2024 -8.5% | Mar 2025 -10% | Jun 2025 -8.2% | Sep 2025 -8.7% | Dec 2025 -6.5% | Mar 2026 -5.6% | Jun 2026 —
- RGP: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 26% | Sep 2022 11% | Dec 2022 0.0% | Mar 2023 -8.8% | Jun 2023 -15% | Sep 2023 -17% | Dec 2023 -19% | Mar 2024 -19% | Jun 2024 -20% | Sep 2024 -19% | Dec 2024 -10% | Mar 2025 -15% | Jun 2025 -6.1% | Sep 2025 -12% | Dec 2025 -19% | Mar 2026 -16% | Jun 2026 —
- EGG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 200% | Jun 2023 — | Sep 2023 0.0% | Dec 2023 — | Mar 2024 -67% | Jun 2024 — | Sep 2024 50% | Dec 2024 — | Mar 2025 200% | Jun 2025 — | Sep 2025 -33% | Dec 2025 — | Mar 2026 — | Jun 2026 —

## Operating Economics & Margin Trend

What the numbers say: Verisk Analytics, Inc. leads opm at 45%; Forrester Research, Inc. leads margin change at +75.7 percentage points.

Investor read: Verisk Analytics, Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Evidence: Verisk Analytics, Inc. · 45% | 9.2% versus #2 · SBC Medical Group Holdings Incorporated | 6/8 recent comparable periods | 11/13 companies · 182 observations

Definition: Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

### OPM — highest
1. Verisk Analytics, Inc. (VRSK): 45%
2. SBC Medical Group Holdings Incorporated (SBC): 41%
3. Equifax Inc. (EFX): 17%
4. Booz Allen Hamilton Holding Corporation (BAH): 9.5%
5. CRA International, Inc. (CRAI): 9.0%

### Margin change — fastest expanders
1. Forrester Research, Inc. (FORR): +75.7 pp
2. Resources Connection, Inc. (RGP): +30.7 pp
3. Verisk Analytics, Inc. (VRSK): +1.2 pp
4. Equifax Inc. (EFX): +1.0 pp
5. Booz Allen Hamilton Holding Corporation (BAH): +0.3 pp

### 20-quarter OPM history
- VRSK: Sep 2021 38% | Dec 2021 25% | Mar 2022 97% | Jun 2022 40% | Sep 2022 42% | Dec 2022 45% | Mar 2023 45% | Jun 2023 45% | Sep 2023 42% | Dec 2023 37% | Mar 2024 44% | Jun 2024 45% | Sep 2024 43% | Dec 2024 43% | Mar 2025 44% | Jun 2025 46% | Sep 2025 45% | Dec 2025 40% | Mar 2026 45% | Jun 2026 —
- EFX: Sep 2021 22% | Dec 2021 20% | Mar 2022 24% | Jun 2022 23% | Sep 2022 20% | Dec 2022 15% | Mar 2023 16% | Jun 2023 18% | Sep 2023 19% | Dec 2023 19% | Mar 2024 16% | Jun 2024 20% | Sep 2024 17% | Dec 2024 20% | Mar 2025 16% | Jun 2025 20% | Sep 2025 17% | Dec 2025 18% | Mar 2026 17% | Jun 2026 —
- BAH: Sep 2021 10% | Dec 2021 8.7% | Mar 2022 6.6% | Jun 2022 9.2% | Sep 2022 9.7% | Dec 2022 2.6% | Mar 2023 -1.8% | Jun 2023 8.8% | Sep 2023 10% | Dec 2023 9.6% | Mar 2024 9.6% | Jun 2024 8.7% | Sep 2024 18% | Dec 2024 10% | Mar 2025 9.2% | Jun 2025 8.8% | Sep 2025 9.8% | Dec 2025 8.8% | Mar 2026 9.5% | Jun 2026 —
- FCN: Sep 2021 13% | Dec 2021 7.5% | Mar 2022 11% | Jun 2022 8.5% | Sep 2022 11% | Dec 2022 9.4% | Mar 2023 8.3% | Jun 2023 10% | Sep 2023 12% | Dec 2023 12% | Mar 2024 11% | Jun 2024 11% | Sep 2024 9.8% | Dec 2024 5.9% | Mar 2025 8.8% | Jun 2025 11% | Sep 2025 12% | Dec 2025 9.4% | Mar 2026 8.5% | Jun 2026 —
- HURN: Sep 2021 8.0% | Dec 2021 3.9% | Mar 2022 6.0% | Jun 2022 10% | Sep 2022 10% | Dec 2022 7.9% | Mar 2023 5.6% | Jun 2023 11% | Sep 2023 10% | Dec 2023 8.5% | Mar 2024 5.5% | Jun 2024 16% | Sep 2024 11% | Dec 2024 12% | Mar 2025 8.1% | Jun 2025 11% | Sep 2025 11% | Dec 2025 11% | Mar 2026 8.1% | Jun 2026 —
- ICFI: Sep 2021 8.2% | Dec 2021 4.8% | Mar 2022 6.7% | Jun 2022 7.0% | Sep 2022 6.0% | Dec 2022 4.8% | Mar 2023 6.5% | Jun 2023 6.4% | Sep 2023 6.4% | Dec 2023 7.7% | Mar 2024 8.3% | Jun 2024 8.3% | Sep 2024 8.9% | Dec 2024 7.3% | Mar 2025 7.9% | Jun 2025 8.4% | Sep 2025 8.3% | Dec 2025 6.5% | Mar 2026 8.0% | Jun 2026 —
- CRAI: Sep 2021 11% | Dec 2021 9.4% | Mar 2022 9.2% | Jun 2022 11% | Sep 2022 10% | Dec 2022 10% | Mar 2023 — | Jun 2023 9.0% | Sep 2023 9.8% | Dec 2023 — | Mar 2024 11% | Jun 2024 6.6% | Sep 2024 11% | Dec 2024 — | Mar 2025 — | Jun 2025 14% | Sep 2025 11% | Dec 2025 9.3% | Mar 2026 — | Jun 2026 9.0%
- SBC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 42% | Dec 2023 39% | Mar 2024 45% | Jun 2024 51% | Sep 2024 26% | Dec 2024 11% | Mar 2025 51% | Jun 2025 34% | Sep 2025 37% | Dec 2025 33% | Mar 2026 41% | Jun 2026 —
- EFTY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 -1.0% | Sep 2024 — | Dec 2024 53% | Mar 2025 — | Jun 2025 41% | Sep 2025 — | Dec 2025 -54% | Mar 2026 — | Jun 2026 —
- FORR: Sep 2021 5.5% | Dec 2021 8.6% | Mar 2022 5.2% | Jun 2022 14% | Sep 2022 6.7% | Dec 2022 -2.2% | Mar 2023 -4.5% | Jun 2023 6.1% | Sep 2023 4.5% | Dec 2023 -1.2% | Mar 2024 -9.3% | Jun 2024 9.3% | Sep 2024 -0.7% | Dec 2024 -0.5% | Mar 2025 -98% | Jun 2025 6.2% | Sep 2025 4.7% | Dec 2025 -37% | Mar 2026 -22% | Jun 2026 —
- RGP: Sep 2021 9.8% | Dec 2021 9.9% | Mar 2022 8.6% | Jun 2022 13% | Sep 2022 12% | Dec 2022 12% | Mar 2023 3.8% | Jun 2023 9.2% | Sep 2023 2.9% | Dec 2023 5.1% | Mar 2024 2.8% | Jun 2024 7.6% | Sep 2024 -3.5% | Dec 2024 -53% | Mar 2025 -38% | Jun 2025 -47% | Sep 2025 -1.7% | Dec 2025 -10% | Mar 2026 -7.7% | Jun 2026 —

### 20-quarter Margin change history
- VRSK: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +4.6 pp | Sep 2022 +3.5 pp | Dec 2022 +19.5 pp | Mar 2023 −51.7 pp | Jun 2023 +4.9 pp | Sep 2023 −0.1 pp | Dec 2023 −7.8 pp | Mar 2024 −1.4 pp | Jun 2024 −0.8 pp | Sep 2024 +1.4 pp | Dec 2024 +6.0 pp | Mar 2025 +0.1 pp | Jun 2025 +1.4 pp | Sep 2025 +2.1 pp | Dec 2025 −2.7 pp | Mar 2026 +1.2 pp | Jun 2026 —
- EFX: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 −1.7 pp | Sep 2022 −2.8 pp | Dec 2022 −5.4 pp | Mar 2023 −8.6 pp | Jun 2023 −5.1 pp | Sep 2023 −0.8 pp | Dec 2023 +3.8 pp | Mar 2024 +0.4 pp | Jun 2024 +1.7 pp | Sep 2024 −1.6 pp | Dec 2024 +1.8 pp | Mar 2025 +0.2 pp | Jun 2025 +0.5 pp | Sep 2025 0.0 pp | Dec 2025 −2.0 pp | Mar 2026 +1.0 pp | Jun 2026 —
- BAH: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +2.1 pp | Sep 2022 −0.7 pp | Dec 2022 −6.1 pp | Mar 2023 −8.4 pp | Jun 2023 −0.4 pp | Sep 2023 +0.3 pp | Dec 2023 +7.0 pp | Mar 2024 +11.4 pp | Jun 2024 −0.1 pp | Sep 2024 +7.5 pp | Dec 2024 +0.4 pp | Mar 2025 −0.4 pp | Jun 2025 +0.1 pp | Sep 2025 −7.7 pp | Dec 2025 −1.2 pp | Mar 2026 +0.3 pp | Jun 2026 —
- FCN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 −3.3 pp | Sep 2022 −1.3 pp | Dec 2022 +1.9 pp | Mar 2023 −2.7 pp | Jun 2023 +1.8 pp | Sep 2023 +0.7 pp | Dec 2023 +3.0 pp | Mar 2024 +2.4 pp | Jun 2024 +0.7 pp | Sep 2024 −2.2 pp | Dec 2024 −6.5 pp | Mar 2025 −1.9 pp | Jun 2025 −0.5 pp | Sep 2025 +2.5 pp | Dec 2025 +3.5 pp | Mar 2026 −0.3 pp | Jun 2026 —
- HURN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +3.4 pp | Sep 2022 +2.0 pp | Dec 2022 +4.0 pp | Mar 2023 −0.4 pp | Jun 2023 +0.9 pp | Sep 2023 +0.2 pp | Dec 2023 +0.6 pp | Mar 2024 −0.1 pp | Jun 2024 +4.4 pp | Sep 2024 +1.0 pp | Dec 2024 +3.3 pp | Mar 2025 +2.6 pp | Jun 2025 −4.5 pp | Sep 2025 +0.1 pp | Dec 2025 −0.4 pp | Mar 2026 0.0 pp | Jun 2026 —
- ICFI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 −1.1 pp | Sep 2022 −2.2 pp | Dec 2022 0.0 pp | Mar 2023 −0.2 pp | Jun 2023 −0.6 pp | Sep 2023 +0.4 pp | Dec 2023 +2.9 pp | Mar 2024 +1.8 pp | Jun 2024 +1.9 pp | Sep 2024 +2.5 pp | Dec 2024 −0.4 pp | Mar 2025 −0.4 pp | Jun 2025 +0.1 pp | Sep 2025 −0.6 pp | Dec 2025 −0.8 pp | Mar 2026 +0.1 pp | Jun 2026 —
- CRAI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −0.7 pp | Dec 2022 +0.6 pp | Mar 2023 — | Jun 2023 −1.5 pp | Sep 2023 −0.3 pp | Dec 2023 — | Mar 2024 — | Jun 2024 −2.4 pp | Sep 2024 +1.2 pp | Dec 2024 — | Mar 2025 — | Jun 2025 +7.4 pp | Sep 2025 −0.4 pp | Dec 2025 — | Mar 2026 — | Jun 2026 −5.0 pp
- SBC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 −16.3 pp | Dec 2024 −27.9 pp | Mar 2025 +6.5 pp | Jun 2025 −17.8 pp | Sep 2025 +10.5 pp | Dec 2025 +21.9 pp | Mar 2026 −9.9 pp | Jun 2026 —
- EFTY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 +41.7 pp | Sep 2025 — | Dec 2025 −106.3 pp | Mar 2026 — | Jun 2026 —
- FORR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +3.8 pp | Sep 2022 +1.2 pp | Dec 2022 −10.8 pp | Mar 2023 −9.7 pp | Jun 2023 −7.9 pp | Sep 2023 −2.2 pp | Dec 2023 +1.0 pp | Mar 2024 −4.8 pp | Jun 2024 +3.2 pp | Sep 2024 −5.2 pp | Dec 2024 +0.7 pp | Mar 2025 −88.2 pp | Jun 2025 −3.1 pp | Sep 2025 +5.4 pp | Dec 2025 −36.1 pp | Mar 2026 +75.7 pp | Jun 2026 —
- RGP: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +4.0 pp | Sep 2022 +2.5 pp | Dec 2022 +1.8 pp | Mar 2023 −4.8 pp | Jun 2023 −3.8 pp | Sep 2023 −9.4 pp | Dec 2023 −6.6 pp | Mar 2024 −1.0 pp | Jun 2024 −1.6 pp | Sep 2024 −6.4 pp | Dec 2024 −57.8 pp | Mar 2025 −41.2 pp | Jun 2025 −54.6 pp | Sep 2025 +1.8 pp | Dec 2025 +42.4 pp | Mar 2026 +30.7 pp | Jun 2026 —

## Profit Scale & Acceleration

What the numbers say: Verisk Analytics, Inc. leads with $910 million of TTM profit, 239.6% above FTI Consulting, Inc.. FTI Consulting, Inc. shows 2.3% growth from a $268 million profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

Investor read: Verisk Analytics, Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Evidence: Verisk Analytics, Inc. · $910 million | 239.6% versus #2 · FTI Consulting, Inc. | 6/8 recent comparable periods | 8/13 companies · 197 observations

Definition: Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

### Net profit — largest
1. Verisk Analytics, Inc. (VRSK): ₹910 Cr
2. FTI Consulting, Inc. (FCN): ₹268 Cr
3. Huron Consulting Group Inc. (HURN): ₹103 Cr
4. ICF International, Inc. (ICFI): ₹86 Cr
5. SBC Medical Group Holdings Incorporated (SBC): ₹40 Cr

### Profit growth — fastest growers
1. FTI Consulting, Inc. (FCN): 2.3%
2. Verisk Analytics, Inc. (VRSK): -5.6%
3. Huron Consulting Group Inc. (HURN): -16%
4. SBC Medical Group Holdings Incorporated (SBC): -20%
5. ICF International, Inc. (ICFI): -23%

### 20-quarter Net profit history
- VRSK: Sep 2021 ₹205 Cr | Dec 2021 ₹142 Cr | Mar 2022 ₹487 Cr | Jun 2022 ₹174 Cr | Sep 2022 ₹166 Cr | Dec 2022 ₹182 Cr | Mar 2023 ₹194 Cr | Jun 2023 ₹204 Cr | Sep 2023 ₹187 Cr | Dec 2023 ₹182 Cr | Mar 2024 ₹219 Cr | Jun 2024 ₹308 Cr | Sep 2024 ₹220 Cr | Dec 2024 ₹204 Cr | Mar 2025 ₹232 Cr | Jun 2025 ₹253 Cr | Sep 2025 ₹226 Cr | Dec 2025 ₹197 Cr | Mar 2026 ₹234 Cr | Jun 2026 —
- EFX: Sep 2021 ₹207 Cr | Dec 2021 ₹123 Cr | Mar 2022 ₹223 Cr | Jun 2022 ₹201 Cr | Sep 2022 ₹167 Cr | Dec 2022 ₹109 Cr | Mar 2023 ₹114 Cr | Jun 2023 ₹139 Cr | Sep 2023 ₹164 Cr | Dec 2023 ₹135 Cr | Mar 2024 ₹126 Cr | Jun 2024 ₹165 Cr | Sep 2024 ₹143 Cr | Dec 2024 ₹173 Cr | Mar 2025 ₹134 Cr | Jun 2025 ₹193 Cr | Sep 2025 ₹162 Cr | Dec 2025 ₹176 Cr | Mar 2026 ₹173 Cr | Jun 2026 —
- BAH: Sep 2021 ₹155 Cr | Dec 2021 ₹129 Cr | Mar 2022 ₹91 Cr | Jun 2022 ₹138 Cr | Sep 2022 ₹171 Cr | Dec 2022 ₹31 Cr | Mar 2023 ₹-69 Cr | Jun 2023 ₹161 Cr | Sep 2023 ₹171 Cr | Dec 2023 ₹146 Cr | Mar 2024 ₹128 Cr | Jun 2024 ₹165 Cr | Sep 2024 ₹390 Cr | Dec 2024 ₹187 Cr | Mar 2025 ₹193 Cr | Jun 2025 ₹271 Cr | Sep 2025 ₹175 Cr | Dec 2025 ₹200 Cr | Mar 2026 ₹205 Cr | Jun 2026 —
- FCN: Sep 2021 ₹69 Cr | Dec 2021 ₹38 Cr | Mar 2022 ₹59 Cr | Jun 2022 ₹51 Cr | Sep 2022 ₹77 Cr | Dec 2022 ₹47 Cr | Mar 2023 ₹48 Cr | Jun 2023 ₹62 Cr | Sep 2023 ₹83 Cr | Dec 2023 ₹82 Cr | Mar 2024 ₹80 Cr | Jun 2024 ₹84 Cr | Sep 2024 ₹66 Cr | Dec 2024 ₹50 Cr | Mar 2025 ₹62 Cr | Jun 2025 ₹72 Cr | Sep 2025 ₹83 Cr | Dec 2025 ₹55 Cr | Mar 2026 ₹58 Cr | Jun 2026 —
- HURN: Sep 2021 ₹14 Cr | Dec 2021 ₹31 Cr | Mar 2022 ₹27 Cr | Jun 2022 ₹14 Cr | Sep 2022 ₹18 Cr | Dec 2022 ₹17 Cr | Mar 2023 ₹13 Cr | Jun 2023 ₹25 Cr | Sep 2023 ₹22 Cr | Dec 2023 ₹3 Cr | Mar 2024 ₹18 Cr | Jun 2024 ₹37 Cr | Sep 2024 ₹27 Cr | Dec 2024 ₹34 Cr | Mar 2025 ₹25 Cr | Jun 2025 ₹19 Cr | Sep 2025 ₹30 Cr | Dec 2025 ₹31 Cr | Mar 2026 ₹23 Cr | Jun 2026 —
- ICFI: Sep 2021 ₹20 Cr | Dec 2021 ₹12 Cr | Mar 2022 ₹18 Cr | Jun 2022 ₹18 Cr | Sep 2022 ₹19 Cr | Dec 2022 ₹9 Cr | Mar 2023 ₹16 Cr | Jun 2023 ₹20 Cr | Sep 2023 ₹24 Cr | Dec 2023 ₹22 Cr | Mar 2024 ₹27 Cr | Jun 2024 ₹26 Cr | Sep 2024 ₹33 Cr | Dec 2024 ₹25 Cr | Mar 2025 ₹27 Cr | Jun 2025 ₹24 Cr | Sep 2025 ₹24 Cr | Dec 2025 ₹17 Cr | Mar 2026 ₹21 Cr | Jun 2026 —
- CRAI: Sep 2021 ₹12 Cr | Dec 2021 ₹11 Cr | Mar 2022 ₹9 Cr | Jun 2022 ₹11 Cr | Sep 2022 ₹12 Cr | Dec 2022 ₹12 Cr | Mar 2023 — | Jun 2023 ₹9 Cr | Sep 2023 ₹10 Cr | Dec 2023 ₹-143 Cr | Mar 2024 ₹14 Cr | Jun 2024 ₹7 Cr | Sep 2024 ₹11 Cr | Dec 2024 ₹-152 Cr | Mar 2025 — | Jun 2025 ₹18 Cr | Sep 2025 ₹12 Cr | Dec 2025 ₹11 Cr | Mar 2026 ₹-175 Cr | Jun 2026 ₹11 Cr
- SBC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 ₹0 Cr | Sep 2022 ₹0 Cr | Dec 2022 — | Mar 2023 ₹1 Cr | Jun 2023 ₹0 Cr | Sep 2023 ₹8 Cr | Dec 2023 ₹14 Cr | Mar 2024 ₹19 Cr | Jun 2024 ₹19 Cr | Sep 2024 ₹3 Cr | Dec 2024 ₹7 Cr | Mar 2025 ₹21 Cr | Jun 2025 ₹2 Cr | Sep 2025 ₹13 Cr | Dec 2025 ₹14 Cr | Mar 2026 ₹11 Cr | Jun 2026 —
- EFTY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 ₹0 Cr | Sep 2024 — | Dec 2024 ₹1 Cr | Mar 2025 — | Jun 2025 ₹1 Cr | Sep 2025 — | Dec 2025 ₹-1 Cr | Mar 2026 — | Jun 2026 —
- FORR: Sep 2021 ₹5 Cr | Dec 2021 ₹8 Cr | Mar 2022 ₹4 Cr | Jun 2022 ₹14 Cr | Sep 2022 ₹5 Cr | Dec 2022 ₹-2 Cr | Mar 2023 ₹-4 Cr | Jun 2023 ₹5 Cr | Sep 2023 ₹2 Cr | Dec 2023 ₹-1 Cr | Mar 2024 ₹-7 Cr | Jun 2024 ₹6 Cr | Sep 2024 ₹-6 Cr | Dec 2024 ₹0 Cr | Mar 2025 ₹-87 Cr | Jun 2025 ₹4 Cr | Sep 2025 ₹-2 Cr | Dec 2025 ₹-34 Cr | Mar 2026 ₹-22 Cr | Jun 2026 —
- RGP: Sep 2021 ₹13 Cr | Dec 2021 ₹14 Cr | Mar 2022 ₹19 Cr | Jun 2022 ₹21 Cr | Sep 2022 ₹18 Cr | Dec 2022 ₹17 Cr | Mar 2023 ₹7 Cr | Jun 2023 ₹12 Cr | Sep 2023 ₹3 Cr | Dec 2023 ₹5 Cr | Mar 2024 ₹3 Cr | Jun 2024 ₹10 Cr | Sep 2024 ₹-6 Cr | Dec 2024 ₹-69 Cr | Mar 2025 ₹-44 Cr | Jun 2025 ₹-73 Cr | Sep 2025 ₹-2 Cr | Dec 2025 ₹-13 Cr | Mar 2026 ₹-9 Cr | Jun 2026 —
- EGG: Sep 2021 — | Dec 2021 — | Mar 2022 ₹0 Cr | Jun 2022 — | Sep 2022 ₹0 Cr | Dec 2022 — | Mar 2023 ₹1 Cr | Jun 2023 — | Sep 2023 ₹0 Cr | Dec 2023 — | Mar 2024 ₹0 Cr | Jun 2024 — | Sep 2024 ₹1 Cr | Dec 2024 — | Mar 2025 ₹1 Cr | Jun 2025 — | Sep 2025 ₹-1 Cr | Dec 2025 — | Mar 2026 — | Jun 2026 —

### 20-quarter Profit growth history
- VRSK: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 14% | Sep 2022 -19% | Dec 2022 28% | Mar 2023 -60% | Jun 2023 17% | Sep 2023 13% | Dec 2023 0.0% | Mar 2024 13% | Jun 2024 51% | Sep 2024 18% | Dec 2024 12% | Mar 2025 5.9% | Jun 2025 -18% | Sep 2025 2.7% | Dec 2025 -3.4% | Mar 2026 0.9% | Jun 2026 —
- EFX: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -6.9% | Sep 2022 -19% | Dec 2022 -11% | Mar 2023 -49% | Jun 2023 -31% | Sep 2023 -1.8% | Dec 2023 24% | Mar 2024 11% | Jun 2024 19% | Sep 2024 -13% | Dec 2024 28% | Mar 2025 6.4% | Jun 2025 17% | Sep 2025 13% | Dec 2025 1.7% | Mar 2026 29% | Jun 2026 —
- BAH: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 50% | Sep 2022 10% | Dec 2022 -76% | Mar 2023 -176% | Jun 2023 17% | Sep 2023 0.0% | Dec 2023 371% | Mar 2024 — | Jun 2024 2.5% | Sep 2024 128% | Dec 2024 28% | Mar 2025 51% | Jun 2025 64% | Sep 2025 -55% | Dec 2025 7.0% | Mar 2026 6.2% | Jun 2026 —
- FCN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -19% | Sep 2022 12% | Dec 2022 24% | Mar 2023 -19% | Jun 2023 22% | Sep 2023 7.8% | Dec 2023 74% | Mar 2024 67% | Jun 2024 35% | Sep 2024 -20% | Dec 2024 -39% | Mar 2025 -23% | Jun 2025 -14% | Sep 2025 26% | Dec 2025 10% | Mar 2026 -6.5% | Jun 2026 —
- HURN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 7.7% | Sep 2022 29% | Dec 2022 -45% | Mar 2023 -52% | Jun 2023 79% | Sep 2023 22% | Dec 2023 -82% | Mar 2024 38% | Jun 2024 48% | Sep 2024 23% | Dec 2024 1,033% | Mar 2025 39% | Jun 2025 -49% | Sep 2025 11% | Dec 2025 -8.8% | Mar 2026 -8.0% | Jun 2026 —
- ICFI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -10% | Sep 2022 -5.0% | Dec 2022 -25% | Mar 2023 -11% | Jun 2023 11% | Sep 2023 26% | Dec 2023 144% | Mar 2024 69% | Jun 2024 30% | Sep 2024 38% | Dec 2024 14% | Mar 2025 0.0% | Jun 2025 -7.7% | Sep 2025 -27% | Dec 2025 -32% | Mar 2026 -22% | Jun 2026 —
- CRAI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 0.0% | Dec 2022 9.1% | Mar 2023 — | Jun 2023 -18% | Sep 2023 -17% | Dec 2023 -1,292% | Mar 2024 — | Jun 2024 -22% | Sep 2024 10% | Dec 2024 — | Mar 2025 — | Jun 2025 157% | Sep 2025 9.1% | Dec 2025 — | Mar 2026 — | Jun 2026 -39%
- SBC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 1,800% | Jun 2024 — | Sep 2024 -63% | Dec 2024 -50% | Mar 2025 11% | Jun 2025 -89% | Sep 2025 333% | Dec 2025 100% | Mar 2026 -48% | Jun 2026 —
- EFTY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 -200% | Mar 2026 — | Jun 2026 —
- FORR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 75% | Sep 2022 0.0% | Dec 2022 -125% | Mar 2023 -200% | Jun 2023 -64% | Sep 2023 -60% | Dec 2023 — | Mar 2024 — | Jun 2024 20% | Sep 2024 -400% | Dec 2024 — | Mar 2025 — | Jun 2025 -33% | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- RGP: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -8.7% | Sep 2022 38% | Dec 2022 21% | Mar 2023 -63% | Jun 2023 -43% | Sep 2023 -83% | Dec 2023 -71% | Mar 2024 -57% | Jun 2024 -17% | Sep 2024 -300% | Dec 2024 -1,480% | Mar 2025 -1,567% | Jun 2025 -830% | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- EGG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 -100% | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 -200% | Dec 2025 — | Mar 2026 — | Jun 2026 —

## Capacity Spending & Returns On It

What the numbers say: Equifax Inc. reports $135 million of CAPEX; Etoiles Capital Group Co., Ltd has the highest covered intensity at 100%. Coverage is only 12 of 13 companies and 189 reported observations, so this is partial evidence—not a complete sector rank.

Investor read: Use the CAPEX rank as a diligence queue. Verify commissioning, utilization, cash conversion and post-investment ROCE before treating spend as value creation.

This conclusion weakens if: CAPEX rises without higher utilization, operating cash flow or incremental returns.

Evidence: Equifax Inc. · $135 million | 110.9% versus #2 · Verisk Analytics, Inc. | 8/8 recent comparable periods | 12/13 companies · 189 observations

Definition: CAPEX is cash spent on property, plant, equipment and other reported capital assets. CAPEX intensity divides that spend by revenue; high intensity is a reinvestment signal, not proof that the reinvestment will earn attractive returns.

### CAPEX — largest spenders
1. Equifax Inc. (EFX): ₹135 Cr
2. Verisk Analytics, Inc. (VRSK): ₹64 Cr
3. Booz Allen Hamilton Holding Corporation (BAH): ₹20 Cr
4. FTI Consulting, Inc. (FCN): ₹11 Cr
5. Forrester Research, Inc. (FORR): ₹6 Cr

### CAPEX intensity — highest reinvestment intensity
1. Etoiles Capital Group Co., Ltd (EFTY): 100% — older report
2. Verisk Analytics, Inc. (VRSK): 8.2%
3. Equifax Inc. (EFX): 7.3%
4. Forrester Research, Inc. (FORR): 7.1%
5. SBC Medical Group Holdings Incorporated (SBC): 2.3%

### 20-quarter CAPEX history
- VRSK: Sep 2021 ₹61 Cr | Dec 2021 ₹85 Cr | Mar 2022 ₹60 Cr | Jun 2022 ₹69 Cr | Sep 2022 ₹66 Cr | Dec 2022 ₹80 Cr | Mar 2023 ₹61 Cr | Jun 2023 ₹58 Cr | Sep 2023 ₹54 Cr | Dec 2023 — | Mar 2024 ₹55 Cr | Jun 2024 ₹58 Cr | Sep 2024 ₹56 Cr | Dec 2024 — | Mar 2025 ₹54 Cr | Jun 2025 ₹56 Cr | Sep 2025 ₹67 Cr | Dec 2025 — | Mar 2026 ₹64 Cr | Jun 2026 —
- EFX: Sep 2021 ₹97 Cr | Dec 2021 ₹136 Cr | Mar 2022 ₹157 Cr | Jun 2022 ₹159 Cr | Sep 2022 ₹153 Cr | Dec 2022 ₹156 Cr | Mar 2023 ₹158 Cr | Jun 2023 ₹163 Cr | Sep 2023 ₹134 Cr | Dec 2023 ₹146 Cr | Mar 2024 ₹132 Cr | Jun 2024 ₹137 Cr | Sep 2024 ₹124 Cr | Dec 2024 ₹119 Cr | Mar 2025 ₹107 Cr | Jun 2025 ₹122 Cr | Sep 2025 ₹122 Cr | Dec 2025 ₹130 Cr | Mar 2026 ₹120 Cr | Jun 2026 ₹135 Cr
- BAH: Sep 2021 ₹21 Cr | Dec 2021 ₹22 Cr | Mar 2022 ₹28 Cr | Jun 2022 ₹14 Cr | Sep 2022 ₹16 Cr | Dec 2022 ₹22 Cr | Mar 2023 ₹25 Cr | Jun 2023 ₹10 Cr | Sep 2023 ₹17 Cr | Dec 2023 ₹23 Cr | Mar 2024 ₹16 Cr | Jun 2024 ₹32 Cr | Sep 2024 ₹24 Cr | Dec 2024 ₹17 Cr | Mar 2025 ₹25 Cr | Jun 2025 ₹23 Cr | Sep 2025 ₹26 Cr | Dec 2025 ₹13 Cr | Mar 2026 ₹28 Cr | Jun 2026 ₹20 Cr
- FCN: Sep 2021 ₹25 Cr | Dec 2021 ₹16 Cr | Mar 2022 ₹13 Cr | Jun 2022 ₹13 Cr | Sep 2022 ₹13 Cr | Dec 2022 ₹14 Cr | Mar 2023 ₹18 Cr | Jun 2023 ₹11 Cr | Sep 2023 ₹14 Cr | Dec 2023 ₹6 Cr | Mar 2024 ₹5 Cr | Jun 2024 ₹10 Cr | Sep 2024 ₹7 Cr | Dec 2024 ₹14 Cr | Mar 2025 ₹18 Cr | Jun 2025 ₹17 Cr | Sep 2025 ₹15 Cr | Dec 2025 ₹8 Cr | Mar 2026 ₹11 Cr | Jun 2026 —
- HURN: Sep 2021 ₹3 Cr | Dec 2021 ₹2 Cr | Mar 2022 ₹4 Cr | Jun 2022 ₹3 Cr | Sep 2022 ₹3 Cr | Dec 2022 ₹3 Cr | Mar 2023 ₹2 Cr | Jun 2023 ₹2 Cr | Sep 2023 ₹1 Cr | Dec 2023 ₹4 Cr | Mar 2024 ₹1 Cr | Jun 2024 ₹2 Cr | Sep 2024 ₹2 Cr | Dec 2024 ₹3 Cr | Mar 2025 ₹2 Cr | Jun 2025 ₹2 Cr | Sep 2025 ₹4 Cr | Dec 2025 ₹3 Cr | Mar 2026 ₹6 Cr | Jun 2026 —
- ICFI: Sep 2021 ₹5 Cr | Dec 2021 ₹8 Cr | Mar 2022 ₹6 Cr | Jun 2022 ₹5 Cr | Sep 2022 ₹6 Cr | Dec 2022 ₹7 Cr | Mar 2023 ₹6 Cr | Jun 2023 ₹7 Cr | Sep 2023 ₹5 Cr | Dec 2023 ₹4 Cr | Mar 2024 ₹5 Cr | Jun 2024 ₹5 Cr | Sep 2024 ₹5 Cr | Dec 2024 ₹6 Cr | Mar 2025 ₹3 Cr | Jun 2025 ₹6 Cr | Sep 2025 ₹6 Cr | Dec 2025 ₹7 Cr | Mar 2026 ₹3 Cr | Jun 2026 —
- CRAI: Sep 2021 ₹0 Cr | Dec 2021 ₹1 Cr | Mar 2022 ₹1 Cr | Jun 2022 ₹1 Cr | Sep 2022 ₹1 Cr | Dec 2022 ₹1 Cr | Mar 2023 — | Jun 2023 ₹1 Cr | Sep 2023 ₹1 Cr | Dec 2023 ₹0 Cr | Mar 2024 ₹1 Cr | Jun 2024 ₹2 Cr | Sep 2024 ₹3 Cr | Dec 2024 ₹11 Cr | Mar 2025 — | Jun 2025 ₹1 Cr | Sep 2025 ₹1 Cr | Dec 2025 ₹1 Cr | Mar 2026 ₹1 Cr | Jun 2026 ₹3 Cr
- SBC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 ₹7 Cr | Mar 2024 ₹1 Cr | Jun 2024 ₹1 Cr | Sep 2024 ₹1 Cr | Dec 2024 ₹1 Cr | Mar 2025 ₹1 Cr | Jun 2025 ₹1 Cr | Sep 2025 ₹0 Cr | Dec 2025 ₹1 Cr | Mar 2026 ₹1 Cr | Jun 2026 —
- EFTY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 ₹0 Cr | Sep 2024 — | Dec 2024 ₹0 Cr | Mar 2025 — | Jun 2025 ₹0 Cr | Sep 2025 — | Dec 2025 ₹1 Cr | Mar 2026 — | Jun 2026 —
- FORR: Sep 2021 ₹5 Cr | Dec 2021 ₹1 Cr | Mar 2022 ₹1 Cr | Jun 2022 ₹1 Cr | Sep 2022 ₹2 Cr | Dec 2022 ₹1 Cr | Mar 2023 ₹2 Cr | Jun 2023 ₹1 Cr | Sep 2023 ₹1 Cr | Dec 2023 ₹2 Cr | Mar 2024 ₹1 Cr | Jun 2024 ₹1 Cr | Sep 2024 ₹0 Cr | Dec 2024 ₹1 Cr | Mar 2025 ₹1 Cr | Jun 2025 ₹1 Cr | Sep 2025 ₹1 Cr | Dec 2025 ₹1 Cr | Mar 2026 ₹6 Cr | Jun 2026 —
- RGP: Sep 2021 ₹1 Cr | Dec 2021 ₹1 Cr | Mar 2022 ₹0 Cr | Jun 2022 ₹0 Cr | Sep 2022 ₹1 Cr | Dec 2022 ₹0 Cr | Mar 2023 ₹0 Cr | Jun 2023 ₹1 Cr | Sep 2023 ₹1 Cr | Dec 2023 ₹0 Cr | Mar 2024 ₹0 Cr | Jun 2024 ₹0 Cr | Sep 2024 ₹0 Cr | Dec 2024 ₹2 Cr | Mar 2025 ₹0 Cr | Jun 2025 ₹0 Cr | Sep 2025 ₹0 Cr | Dec 2025 ₹0 Cr | Mar 2026 ₹0 Cr | Jun 2026 —
- EGG: Sep 2021 — | Dec 2021 — | Mar 2022 ₹0 Cr | Jun 2022 — | Sep 2022 ₹0 Cr | Dec 2022 — | Mar 2023 ₹0 Cr | Jun 2023 — | Sep 2023 ₹0 Cr | Dec 2023 — | Mar 2024 ₹0 Cr | Jun 2024 — | Sep 2024 ₹0 Cr | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —

### 20-quarter CAPEX intensity history
- VRSK: Sep 2021 8.0% | Dec 2021 11% | Mar 2022 9.3% | Jun 2022 11% | Sep 2022 11% | Dec 2022 13% | Mar 2023 9.4% | Jun 2023 8.6% | Sep 2023 8.0% | Dec 2023 — | Mar 2024 7.8% | Jun 2024 8.1% | Sep 2024 7.7% | Dec 2024 — | Mar 2025 7.2% | Jun 2025 7.2% | Sep 2025 8.7% | Dec 2025 — | Mar 2026 8.2% | Jun 2026 —
- EFX: Sep 2021 7.9% | Dec 2021 11% | Mar 2022 12% | Jun 2022 12% | Sep 2022 12% | Dec 2022 13% | Mar 2023 12% | Jun 2023 12% | Sep 2023 10% | Dec 2023 11% | Mar 2024 9.5% | Jun 2024 9.6% | Sep 2024 8.6% | Dec 2024 8.4% | Mar 2025 7.4% | Jun 2025 7.9% | Sep 2025 7.9% | Dec 2025 8.4% | Mar 2026 7.3% | Jun 2026 —
- BAH: Sep 2021 1.0% | Dec 2021 1.1% | Mar 2022 1.3% | Jun 2022 0.6% | Sep 2022 0.7% | Dec 2022 1.0% | Mar 2023 1.0% | Jun 2023 0.4% | Sep 2023 0.6% | Dec 2023 0.9% | Mar 2024 0.6% | Jun 2024 1.1% | Sep 2024 0.8% | Dec 2024 0.6% | Mar 2025 0.8% | Jun 2025 0.8% | Sep 2025 0.9% | Dec 2025 0.5% | Mar 2026 1.0% | Jun 2026 —
- FCN: Sep 2021 3.6% | Dec 2021 2.4% | Mar 2022 1.8% | Jun 2022 1.7% | Sep 2022 1.7% | Dec 2022 1.8% | Mar 2023 2.2% | Jun 2023 1.3% | Sep 2023 1.6% | Dec 2023 0.6% | Mar 2024 0.5% | Jun 2024 1.1% | Sep 2024 0.8% | Dec 2024 1.6% | Mar 2025 2.0% | Jun 2025 1.8% | Sep 2025 1.6% | Dec 2025 0.8% | Mar 2026 1.1% | Jun 2026 —
- HURN: Sep 2021 1.3% | Dec 2021 0.8% | Mar 2022 1.5% | Jun 2022 1.1% | Sep 2022 1.0% | Dec 2022 0.9% | Mar 2023 0.6% | Jun 2023 0.6% | Sep 2023 0.3% | Dec 2023 1.1% | Mar 2024 0.3% | Jun 2024 0.5% | Sep 2024 0.5% | Dec 2024 0.8% | Mar 2025 0.5% | Jun 2025 0.5% | Sep 2025 0.9% | Dec 2025 0.7% | Mar 2026 1.3% | Jun 2026 —
- ICFI: Sep 2021 1.3% | Dec 2021 2.1% | Mar 2022 1.5% | Jun 2022 1.2% | Sep 2022 1.3% | Dec 2022 1.5% | Mar 2023 1.2% | Jun 2023 1.4% | Sep 2023 1.0% | Dec 2023 0.8% | Mar 2024 1.0% | Jun 2024 1.0% | Sep 2024 1.0% | Dec 2024 1.2% | Mar 2025 0.6% | Jun 2025 1.3% | Sep 2025 1.3% | Dec 2025 1.6% | Mar 2026 0.7% | Jun 2026 —
- CRAI: Sep 2021 0.0% | Dec 2021 0.7% | Mar 2022 0.7% | Jun 2022 0.7% | Sep 2022 0.7% | Dec 2022 0.7% | Mar 2023 — | Jun 2023 0.7% | Sep 2023 0.6% | Dec 2023 — | Mar 2024 0.6% | Jun 2024 1.2% | Sep 2024 1.8% | Dec 2024 — | Mar 2025 — | Jun 2025 0.5% | Sep 2025 0.5% | Dec 2025 0.5% | Mar 2026 — | Jun 2026 1.5%
- SBC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 11% | Mar 2024 1.8% | Jun 2024 1.9% | Sep 2024 1.9% | Dec 2024 2.3% | Mar 2025 2.1% | Jun 2025 2.3% | Sep 2025 0.0% | Dec 2025 2.5% | Mar 2026 2.3% | Jun 2026 —
- EFTY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 0.0% | Sep 2024 — | Dec 2024 0.0% | Mar 2025 — | Jun 2025 0.0% | Sep 2025 — | Dec 2025 100% | Mar 2026 — | Jun 2026 —
- FORR: Sep 2021 4.2% | Dec 2021 0.7% | Mar 2022 0.8% | Jun 2022 0.7% | Sep 2022 1.6% | Dec 2022 0.7% | Mar 2023 1.8% | Jun 2023 0.7% | Sep 2023 0.9% | Dec 2023 1.7% | Mar 2024 1.0% | Jun 2024 0.8% | Sep 2024 0.0% | Dec 2024 0.9% | Mar 2025 1.1% | Jun 2025 0.9% | Sep 2025 1.1% | Dec 2025 1.0% | Mar 2026 7.1% | Jun 2026 —
- RGP: Sep 2021 0.5% | Dec 2021 0.5% | Mar 2022 0.0% | Jun 2022 0.0% | Sep 2022 0.5% | Dec 2022 0.0% | Mar 2023 0.0% | Jun 2023 0.5% | Sep 2023 0.6% | Dec 2023 0.0% | Mar 2024 0.0% | Jun 2024 0.0% | Sep 2024 0.0% | Dec 2024 1.4% | Mar 2025 0.0% | Jun 2025 0.0% | Sep 2025 0.0% | Dec 2025 0.0% | Mar 2026 0.0% | Jun 2026 —
- EGG: Sep 2021 — | Dec 2021 — | Mar 2022 0.0% | Jun 2022 — | Sep 2022 0.0% | Dec 2022 — | Mar 2023 0.0% | Jun 2023 — | Sep 2023 0.0% | Dec 2023 — | Mar 2024 0.0% | Jun 2024 — | Sep 2024 0.0% | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —

## Debt Load & Balance-Sheet Headroom

What the numbers say: SBC Medical Group Holdings Incorporated has the clearest covered balance-sheet capacity with $116 million net cash and gross debt of $52 million. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.

Investor read: Prioritize net-cash capacity and leverage relative to operating scale, not the smallest absolute rupee debt.

This conclusion weakens if: Net debt rises faster than revenue and profit for two consecutive reported periods.

Evidence: Etoiles Capital Group Co., Ltd · $2 million | 91.7% versus #2 · Resources Connection, Inc. | 3/3 recent comparable periods | 11/13 companies · 190 observations

Definition: Gross debt shows contractual borrowings. Net debt subtracts reported cash; a negative value means net cash. Lower debt can create capacity, but should be read against the scale and capital intensity of the business.

### Gross debt — lowest gross debt
1. Etoiles Capital Group Co., Ltd (EFTY): ₹2 Cr — older report
2. Resources Connection, Inc. (RGP): ₹24 Cr
3. SBC Medical Group Holdings Incorporated (SBC): ₹52 Cr
4. Forrester Research, Inc. (FORR): ₹62 Cr
5. CRA International, Inc. (CRAI): ₹280 Cr

### Net debt — lowest net debt
1. SBC Medical Group Holdings Incorporated (SBC): ₹-116 Cr
2. Forrester Research, Inc. (FORR): ₹-83 Cr
3. Resources Connection, Inc. (RGP): ₹-59 Cr
4. Etoiles Capital Group Co., Ltd (EFTY): ₹-4 Cr — older report
5. CRA International, Inc. (CRAI): ₹248 Cr

### 20-quarter Gross debt history
- VRSK: Sep 2021 ₹3.4K Cr | Dec 2021 ₹3.6K Cr | Mar 2022 ₹3.9K Cr | Jun 2022 ₹3.7K Cr | Sep 2022 ₹3.7K Cr | Dec 2022 ₹4.0K Cr | Mar 2023 ₹3.1K Cr | Jun 2023 ₹3.1K Cr | Sep 2023 ₹3.1K Cr | Dec 2023 ₹3.1K Cr | Mar 2024 ₹3.1K Cr | Jun 2024 ₹3.3K Cr | Sep 2024 ₹3.3K Cr | Dec 2024 ₹3.2K Cr | Mar 2025 ₹3.9K Cr | Jun 2025 ₹3.4K Cr | Sep 2025 ₹4.9K Cr | Dec 2025 ₹4.9K Cr | Mar 2026 ₹4.6K Cr | Jun 2026 —
- EFX: Sep 2021 ₹5.5K Cr | Dec 2021 ₹5.3K Cr | Mar 2022 ₹5.8K Cr | Jun 2022 ₹5.7K Cr | Sep 2022 ₹5.9K Cr | Dec 2022 ₹5.8K Cr | Mar 2023 ₹5.8K Cr | Jun 2023 ₹5.7K Cr | Sep 2023 ₹6.0K Cr | Dec 2023 ₹5.7K Cr | Mar 2024 ₹5.6K Cr | Jun 2024 ₹5.5K Cr | Sep 2024 ₹5.5K Cr | Dec 2024 ₹5.0K Cr | Mar 2025 ₹5.0K Cr | Jun 2025 ₹4.9K Cr | Sep 2025 ₹4.8K Cr | Dec 2025 ₹5.1K Cr | Mar 2026 ₹5.3K Cr | Jun 2026 ₹5.5K Cr
- BAH: Sep 2021 ₹3.1K Cr | Dec 2021 ₹3.1K Cr | Mar 2022 ₹3.1K Cr | Jun 2022 ₹3.1K Cr | Sep 2022 ₹3.1K Cr | Dec 2022 ₹3.1K Cr | Mar 2023 ₹3.1K Cr | Jun 2023 ₹3.1K Cr | Sep 2023 ₹3.7K Cr | Dec 2023 ₹3.6K Cr | Mar 2024 ₹3.6K Cr | Jun 2024 ₹3.6K Cr | Sep 2024 ₹3.6K Cr | Dec 2024 ₹3.6K Cr | Mar 2025 ₹4.2K Cr | Jun 2025 ₹4.2K Cr | Sep 2025 ₹4.2K Cr | Dec 2025 ₹4.1K Cr | Mar 2026 ₹4.1K Cr | Jun 2026 ₹4.2K Cr
- FCN: Sep 2021 ₹552 Cr | Dec 2021 ₹533 Cr | Mar 2022 ₹554 Cr | Jun 2022 ₹532 Cr | Sep 2022 ₹528 Cr | Dec 2022 ₹537 Cr | Mar 2023 ₹588 Cr | Jun 2023 ₹564 Cr | Sep 2023 ₹503 Cr | Dec 2023 ₹224 Cr | Mar 2024 ₹419 Cr | Jun 2024 ₹275 Cr | Sep 2024 ₹217 Cr | Dec 2024 ₹208 Cr | Mar 2025 ₹361 Cr | Jun 2025 ₹687 Cr | Sep 2025 ₹736 Cr | Dec 2025 ₹590 Cr | Mar 2026 ₹969 Cr | Jun 2026 —
- HURN: Sep 2021 ₹330 Cr | Dec 2021 ₹297 Cr | Mar 2022 ₹397 Cr | Jun 2022 ₹401 Cr | Sep 2022 ₹400 Cr | Dec 2022 ₹346 Cr | Mar 2023 ₹501 Cr | Jun 2023 ₹448 Cr | Sep 2023 ₹408 Cr | Dec 2023 ₹374 Cr | Mar 2024 ₹621 Cr | Jun 2024 ₹558 Cr | Sep 2024 ₹487 Cr | Dec 2024 ₹399 Cr | Mar 2025 ₹615 Cr | Jun 2025 ₹694 Cr | Sep 2025 ₹651 Cr | Dec 2025 ₹548 Cr | Mar 2026 ₹887 Cr | Jun 2026 —
- ICFI: Sep 2021 ₹403 Cr | Dec 2021 ₹648 Cr | Mar 2022 ₹680 Cr | Jun 2022 ₹662 Cr | Sep 2022 ₹927 Cr | Dec 2022 ₹776 Cr | Mar 2023 ₹821 Cr | Jun 2023 ₹823 Cr | Sep 2023 ₹745 Cr | Dec 2023 ₹643 Cr | Mar 2024 ₹682 Cr | Jun 2024 ₹636 Cr | Sep 2024 ₹616 Cr | Dec 2024 ₹602 Cr | Mar 2025 ₹687 Cr | Jun 2025 ₹644 Cr | Sep 2025 ₹624 Cr | Dec 2025 ₹571 Cr | Mar 2026 ₹602 Cr | Jun 2026 —
- CRAI: Sep 2021 ₹192 Cr | Dec 2021 ₹149 Cr | Mar 2022 ₹139 Cr | Jun 2022 ₹195 Cr | Sep 2022 ₹200 Cr | Dec 2022 ₹169 Cr | Mar 2023 — | Jun 2023 ₹218 Cr | Sep 2023 ₹194 Cr | Dec 2023 ₹109 Cr | Mar 2024 ₹176 Cr | Jun 2024 ₹188 Cr | Sep 2024 ₹168 Cr | Dec 2024 ₹103 Cr | Mar 2025 — | Jun 2025 ₹185 Cr | Sep 2025 ₹224 Cr | Dec 2025 ₹194 Cr | Mar 2026 ₹127 Cr | Jun 2026 ₹280 Cr
- SBC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 ₹0 Cr | Dec 2022 ₹0 Cr | Mar 2023 ₹0 Cr | Jun 2023 ₹1 Cr | Sep 2023 ₹1 Cr | Dec 2023 ₹23 Cr | Mar 2024 ₹3 Cr | Jun 2024 ₹3 Cr | Sep 2024 ₹28 Cr | Dec 2024 ₹12 Cr | Mar 2025 ₹14 Cr | Jun 2025 ₹16 Cr | Sep 2025 ₹28 Cr | Dec 2025 ₹52 Cr | Mar 2026 ₹52 Cr | Jun 2026 —
- EFTY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 ₹0 Cr | Mar 2025 — | Jun 2025 ₹0 Cr | Sep 2025 — | Dec 2025 ₹2 Cr | Mar 2026 — | Jun 2026 —
- FORR: Sep 2021 ₹167 Cr | Dec 2021 ₹140 Cr | Mar 2022 ₹121 Cr | Jun 2022 ₹108 Cr | Sep 2022 ₹104 Cr | Dec 2022 ₹101 Cr | Mar 2023 ₹84 Cr | Jun 2023 ₹80 Cr | Sep 2023 ₹76 Cr | Dec 2023 ₹73 Cr | Mar 2024 ₹69 Cr | Jun 2024 ₹66 Cr | Sep 2024 ₹63 Cr | Dec 2024 ₹60 Cr | Mar 2025 ₹57 Cr | Jun 2025 ₹70 Cr | Sep 2025 ₹67 Cr | Dec 2025 ₹65 Cr | Mar 2026 ₹62 Cr | Jun 2026 —
- RGP: Sep 2021 ₹62 Cr | Dec 2021 ₹71 Cr | Mar 2022 ₹78 Cr | Jun 2022 ₹76 Cr | Sep 2022 ₹43 Cr | Dec 2022 ₹41 Cr | Mar 2023 ₹19 Cr | Jun 2023 ₹18 Cr | Sep 2023 ₹17 Cr | Dec 2023 ₹25 Cr | Mar 2024 ₹15 Cr | Jun 2024 ₹13 Cr | Sep 2024 ₹25 Cr | Dec 2024 ₹29 Cr | Mar 2025 ₹27 Cr | Jun 2025 ₹25 Cr | Sep 2025 ₹25 Cr | Dec 2025 ₹25 Cr | Mar 2026 ₹24 Cr | Jun 2026 —

### 20-quarter Net debt history
- VRSK: Sep 2021 ₹3.1K Cr | Dec 2021 ₹3.5K Cr | Mar 2022 ₹3.5K Cr | Jun 2022 ₹3.3K Cr | Sep 2022 ₹3.4K Cr | Dec 2022 ₹3.8K Cr | Mar 2023 ₹2.8K Cr | Jun 2023 ₹2.8K Cr | Sep 2023 ₹2.7K Cr | Dec 2023 ₹2.8K Cr | Mar 2024 ₹2.7K Cr | Jun 2024 ₹2.7K Cr | Sep 2024 ₹2.8K Cr | Dec 2024 ₹3.0K Cr | Mar 2025 ₹2.8K Cr | Jun 2025 ₹2.8K Cr | Sep 2025 ₹2.8K Cr | Dec 2025 ₹2.7K Cr | Mar 2026 ₹4.1K Cr | Jun 2026 —
- EFX: Sep 2021 ₹3.4K Cr | Dec 2021 ₹5.1K Cr | Mar 2022 ₹5.6K Cr | Jun 2022 ₹5.5K Cr | Sep 2022 ₹5.6K Cr | Dec 2022 ₹5.5K Cr | Mar 2023 ₹5.6K Cr | Jun 2023 ₹5.5K Cr | Sep 2023 ₹5.6K Cr | Dec 2023 ₹5.5K Cr | Mar 2024 ₹5.4K Cr | Jun 2024 ₹5.3K Cr | Sep 2024 ₹5.0K Cr | Dec 2024 ₹4.8K Cr | Mar 2025 ₹4.8K Cr | Jun 2025 ₹4.7K Cr | Sep 2025 ₹4.6K Cr | Dec 2025 ₹4.9K Cr | Mar 2026 ₹5.1K Cr | Jun 2026 ₹5.3K Cr
- BAH: Sep 2021 ₹2.4K Cr | Dec 2021 ₹2.5K Cr | Mar 2022 ₹2.4K Cr | Jun 2022 ₹2.6K Cr | Sep 2022 ₹2.3K Cr | Dec 2022 ₹2.7K Cr | Mar 2023 ₹2.7K Cr | Jun 2023 ₹2.9K Cr | Sep 2023 ₹3.1K Cr | Dec 2023 ₹3.0K Cr | Mar 2024 ₹3.1K Cr | Jun 2024 ₹3.3K Cr | Sep 2024 ₹3.1K Cr | Dec 2024 ₹3.1K Cr | Mar 2025 ₹3.3K Cr | Jun 2025 ₹3.5K Cr | Sep 2025 ₹3.3K Cr | Dec 2025 ₹3.3K Cr | Mar 2026 ₹3.4K Cr | Jun 2026 ₹3.6K Cr
- FCN: Sep 2021 ₹209 Cr | Dec 2021 ₹39 Cr | Mar 2022 ₹283 Cr | Jun 2022 ₹276 Cr | Sep 2022 ₹201 Cr | Dec 2022 ₹45 Cr | Mar 2023 ₹349 Cr | Jun 2023 ₹360 Cr | Sep 2023 ₹302 Cr | Dec 2023 ₹-79 Cr | Mar 2024 ₹175 Cr | Jun 2024 ₹49 Cr | Sep 2024 ₹-169 Cr | Dec 2024 ₹-452 Cr | Mar 2025 ₹210 Cr | Jun 2025 ₹534 Cr | Sep 2025 ₹590 Cr | Dec 2025 ₹325 Cr | Mar 2026 ₹771 Cr | Jun 2026 —
- HURN: Sep 2021 ₹319 Cr | Dec 2021 ₹276 Cr | Mar 2022 ₹387 Cr | Jun 2022 ₹389 Cr | Sep 2022 ₹391 Cr | Dec 2022 ₹334 Cr | Mar 2023 ₹489 Cr | Jun 2023 ₹431 Cr | Sep 2023 ₹399 Cr | Dec 2023 ₹362 Cr | Mar 2024 ₹602 Cr | Jun 2024 ₹540 Cr | Sep 2024 ₹469 Cr | Dec 2024 ₹377 Cr | Mar 2025 ₹592 Cr | Jun 2025 ₹633 Cr | Sep 2025 ₹627 Cr | Dec 2025 ₹523 Cr | Mar 2026 ₹861 Cr | Jun 2026 —
- ICFI: Sep 2021 ₹395 Cr | Dec 2021 ₹640 Cr | Mar 2022 ₹673 Cr | Jun 2022 ₹656 Cr | Sep 2022 ₹919 Cr | Dec 2022 ₹765 Cr | Mar 2023 ₹816 Cr | Jun 2023 ₹816 Cr | Sep 2023 ₹740 Cr | Dec 2023 ₹637 Cr | Mar 2024 ₹678 Cr | Jun 2024 ₹632 Cr | Sep 2024 ₹609 Cr | Dec 2024 ₹597 Cr | Mar 2025 ₹681 Cr | Jun 2025 ₹637 Cr | Sep 2025 ₹620 Cr | Dec 2025 ₹566 Cr | Mar 2026 ₹598 Cr | Jun 2026 —
- CRAI: Sep 2021 ₹178 Cr | Dec 2021 ₹129 Cr | Mar 2022 ₹73 Cr | Jun 2022 ₹151 Cr | Sep 2022 ₹184 Cr | Dec 2022 ₹145 Cr | Mar 2023 — | Jun 2023 ₹182 Cr | Sep 2023 ₹180 Cr | Dec 2023 ₹63 Cr | Mar 2024 ₹139 Cr | Jun 2024 ₹163 Cr | Sep 2024 ₹144 Cr | Dec 2024 ₹76 Cr | Mar 2025 — | Jun 2025 ₹159 Cr | Sep 2025 ₹205 Cr | Dec 2025 ₹172 Cr | Mar 2026 ₹109 Cr | Jun 2026 ₹248 Cr
- SBC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 ₹0 Cr | Dec 2022 ₹0 Cr | Mar 2023 ₹0 Cr | Jun 2023 ₹0 Cr | Sep 2023 ₹0 Cr | Dec 2023 ₹-80 Cr | Mar 2024 ₹1 Cr | Jun 2024 ₹2 Cr | Sep 2024 ₹-109 Cr | Dec 2024 ₹-113 Cr | Mar 2025 ₹-118 Cr | Jun 2025 ₹-137 Cr | Sep 2025 ₹-99 Cr | Dec 2025 ₹-112 Cr | Mar 2026 ₹-116 Cr | Jun 2026 —
- EFTY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 ₹-1 Cr | Mar 2025 — | Jun 2025 ₹-2 Cr | Sep 2025 — | Dec 2025 ₹-4 Cr | Mar 2026 — | Jun 2026 —
- FORR: Sep 2021 ₹21 Cr | Dec 2021 ₹6 Cr | Mar 2022 ₹-11 Cr | Jun 2022 ₹-15 Cr | Sep 2022 ₹-15 Cr | Dec 2022 ₹-22 Cr | Mar 2023 ₹-37 Cr | Jun 2023 ₹-44 Cr | Sep 2023 ₹-35 Cr | Dec 2023 ₹-51 Cr | Mar 2024 ₹-49 Cr | Jun 2024 ₹-45 Cr | Sep 2024 ₹-52 Cr | Dec 2024 ₹-45 Cr | Mar 2025 ₹-77 Cr | Jun 2025 ₹-65 Cr | Sep 2025 ₹-65 Cr | Dec 2025 ₹-63 Cr | Mar 2026 ₹-83 Cr | Jun 2026 —
- RGP: Sep 2021 ₹0 Cr | Dec 2021 ₹0 Cr | Mar 2022 ₹-4 Cr | Jun 2022 ₹-28 Cr | Sep 2022 ₹-30 Cr | Dec 2022 ₹-48 Cr | Mar 2023 ₹-85 Cr | Jun 2023 ₹-99 Cr | Sep 2023 ₹-96 Cr | Dec 2023 ₹-71 Cr | Mar 2024 ₹-99 Cr | Jun 2024 ₹-96 Cr | Sep 2024 ₹-65 Cr | Dec 2024 ₹-49 Cr | Mar 2025 ₹-45 Cr | Jun 2025 ₹-61 Cr | Sep 2025 ₹-53 Cr | Dec 2025 ₹-65 Cr | Mar 2026 ₹-59 Cr | Jun 2026 —

## Return On Capital Employed

What the numbers say: Zi Yun Dong Fang Limited leads ROCE at 110.6%, 100.7 percentage points above Verisk Analytics, Inc.. Forrester Research, Inc. has the strongest latest improvement at +23.4 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

Investor read: Zi Yun Dong Fang Limited sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

Evidence: Zi Yun Dong Fang Limited · 110.6% | 11.2× versus #2 · Verisk Analytics, Inc. | Not enough history | 13/13 companies · 204 observations

Definition: ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

### ROCE — highest
1. Zi Yun Dong Fang Limited (YLY): 111%
2. Verisk Analytics, Inc. (VRSK): 9.9%
3. SBC Medical Group Holdings Incorporated (SBC): 6.3%
4. CRA International, Inc. (CRAI): 6.0%
5. Booz Allen Hamilton Holding Corporation (BAH): 5.0%

### ROCE change — fastest improvers
1. Forrester Research, Inc. (FORR): +23.4 pp
2. Resources Connection, Inc. (RGP): +10.1 pp
3. Verisk Analytics, Inc. (VRSK): +0.8 pp
4. Equifax Inc. (EFX): +0.2 pp
5. FTI Consulting, Inc. (FCN): +0.1 pp

### 20-quarter ROCE history
- VRSK: Sep 2021 5.0% | Dec 2021 3.2% | Mar 2022 10% | Jun 2022 4.3% | Sep 2022 4.7% | Dec 2022 5.3% | Mar 2023 6.5% | Jun 2023 6.9% | Sep 2023 6.6% | Dec 2023 6.1% | Mar 2024 9.0% | Jun 2024 9.2% | Sep 2024 9.2% | Dec 2024 9.6% | Mar 2025 9.1% | Jun 2025 9.7% | Sep 2025 9.6% | Dec 2025 9.1% | Mar 2026 9.9% | Jun 2026 —
- EFX: Sep 2021 3.4% | Dec 2021 3.2% | Mar 2022 4.1% | Jun 2022 3.8% | Sep 2022 2.6% | Dec 2022 1.9% | Mar 2023 2.2% | Jun 2023 2.5% | Sep 2023 2.5% | Dec 2023 2.5% | Mar 2024 2.2% | Jun 2024 2.7% | Sep 2024 2.3% | Dec 2024 2.9% | Mar 2025 2.3% | Jun 2025 3.1% | Sep 2025 2.6% | Dec 2025 2.9% | Mar 2026 2.9% | Jun 2026 3.3%
- BAH: Sep 2021 5.2% | Dec 2021 4.2% | Mar 2022 3.4% | Jun 2022 4.6% | Sep 2022 4.8% | Dec 2022 1.3% | Mar 2023 -0.9% | Jun 2023 5.1% | Sep 2023 5.2% | Dec 2023 5.1% | Mar 2024 5.6% | Jun 2024 5.3% | Sep 2024 10% | Dec 2024 5.9% | Mar 2025 5.3% | Jun 2025 5.0% | Sep 2025 5.5% | Dec 2025 4.4% | Mar 2026 4.8% | Jun 2026 5.0%
- FCN: Sep 2021 3.9% | Dec 2021 2.3% | Mar 2022 3.4% | Jun 2022 2.7% | Sep 2022 3.7% | Dec 2022 3.0% | Mar 2023 2.7% | Jun 2023 3.5% | Sep 2023 4.2% | Dec 2023 4.7% | Mar 2024 3.8% | Jun 2024 4.0% | Sep 2024 3.4% | Dec 2024 2.1% | Mar 2025 2.9% | Jun 2025 3.7% | Sep 2025 4.4% | Dec 2025 3.6% | Mar 2026 3.0% | Jun 2026 —
- HURN: Sep 2021 2.0% | Dec 2021 1.1% | Mar 2022 1.6% | Jun 2022 3.0% | Sep 2022 3.1% | Dec 2022 2.7% | Mar 2023 1.7% | Jun 2023 3.8% | Sep 2023 3.7% | Dec 2023 3.1% | Mar 2024 1.8% | Jun 2024 5.5% | Sep 2024 4.1% | Dec 2024 4.8% | Mar 2025 2.8% | Jun 2025 3.9% | Sep 2025 4.4% | Dec 2025 4.7% | Mar 2026 2.9% | Jun 2026 —
- ICFI: Sep 2021 2.6% | Dec 2021 1.4% | Mar 2022 2.0% | Jun 2022 2.1% | Sep 2022 1.9% | Dec 2022 1.5% | Mar 2023 1.9% | Jun 2023 2.0% | Sep 2023 1.8% | Dec 2023 2.3% | Mar 2024 2.4% | Jun 2024 2.5% | Sep 2024 2.8% | Dec 2024 2.3% | Mar 2025 2.3% | Jun 2025 2.4% | Sep 2025 2.3% | Dec 2025 1.8% | Mar 2026 2.1% | Jun 2026 —
- CRAI: Sep 2021 — | Dec 2021 3.7% | Mar 2022 3.5% | Jun 2022 4.4% | Sep 2022 4.5% | Dec 2022 4.4% | Mar 2023 — | Jun 2023 4.2% | Sep 2023 5.0% | Dec 2023 -44% | Mar 2024 6.3% | Jun 2024 3.7% | Sep 2024 5.8% | Dec 2024 -48% | Mar 2025 — | Jun 2025 8.0% | Sep 2025 6.8% | Dec 2025 5.7% | Mar 2026 -56% | Jun 2026 6.0%
- SBC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 0.0% | Dec 2022 0.0% | Mar 2023 0.0% | Jun 2023 0.0% | Sep 2023 29% | Dec 2023 17% | Mar 2024 36% | Jun 2024 160% | Sep 2024 11% | Dec 2024 2.5% | Mar 2025 19% | Jun 2025 11% | Sep 2025 6.3% | Dec 2025 4.9% | Mar 2026 6.3% | Jun 2026 —
- EFTY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 112% | Mar 2025 — | Jun 2025 109% | Sep 2025 — | Dec 2025 -0.4% | Mar 2026 — | Jun 2026 —
- FORR: Sep 2021 1.8% | Dec 2021 3.1% | Mar 2022 1.8% | Jun 2022 5.8% | Sep 2022 2.4% | Dec 2022 -0.9% | Mar 2023 -1.5% | Jun 2023 2.5% | Sep 2023 1.5% | Dec 2023 -0.4% | Mar 2024 -2.9% | Jun 2024 3.5% | Sep 2024 -0.2% | Dec 2024 -0.2% | Mar 2025 -33% | Jun 2025 2.5% | Sep 2025 1.7% | Dec 2025 -16% | Mar 2026 -9.6% | Jun 2026 —
- RGP: Sep 2021 4.2% | Dec 2021 4.6% | Mar 2022 4.2% | Jun 2022 6.4% | Sep 2022 5.8% | Dec 2022 5.3% | Mar 2023 1.6% | Jun 2023 3.8% | Sep 2023 1.1% | Dec 2023 1.9% | Mar 2024 1.0% | Jun 2024 2.6% | Sep 2024 -1.1% | Dec 2024 -19% | Mar 2025 -13% | Jun 2025 -20% | Sep 2025 -0.6% | Dec 2025 -4.3% | Mar 2026 -3.3% | Jun 2026 —
- EGG: Sep 2021 0.0% | Dec 2021 — | Mar 2022 — | Jun 2022 -71% | Sep 2022 -71% | Dec 2022 170% | Mar 2023 170% | Jun 2023 24% | Sep 2023 24% | Dec 2023 -10% | Mar 2024 -10% | Jun 2024 45% | Sep 2024 45% | Dec 2024 29% | Mar 2025 29% | Jun 2025 -3.9% | Sep 2025 -3.9% | Dec 2025 — | Mar 2026 — | Jun 2026 —

### 20-quarter ROCE change history
- VRSK: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −0.3 pp | Dec 2022 +2.1 pp | Mar 2023 −3.9 pp | Jun 2023 +2.6 pp | Sep 2023 +1.9 pp | Dec 2023 +0.8 pp | Mar 2024 +2.5 pp | Jun 2024 +2.3 pp | Sep 2024 +2.6 pp | Dec 2024 +3.5 pp | Mar 2025 +0.1 pp | Jun 2025 +0.5 pp | Sep 2025 +0.4 pp | Dec 2025 −0.5 pp | Mar 2026 +0.8 pp | Jun 2026 —
- EFX: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −0.8 pp | Dec 2022 −1.3 pp | Mar 2023 −1.9 pp | Jun 2023 −1.3 pp | Sep 2023 −0.1 pp | Dec 2023 +0.6 pp | Mar 2024 0.0 pp | Jun 2024 +0.2 pp | Sep 2024 −0.2 pp | Dec 2024 +0.4 pp | Mar 2025 +0.1 pp | Jun 2025 +0.4 pp | Sep 2025 +0.3 pp | Dec 2025 0.0 pp | Mar 2026 +0.6 pp | Jun 2026 +0.2 pp
- BAH: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −0.4 pp | Dec 2022 −2.9 pp | Mar 2023 −4.3 pp | Jun 2023 +0.5 pp | Sep 2023 +0.4 pp | Dec 2023 +3.8 pp | Mar 2024 +6.5 pp | Jun 2024 +0.2 pp | Sep 2024 +5.2 pp | Dec 2024 +0.8 pp | Mar 2025 −0.3 pp | Jun 2025 −0.3 pp | Sep 2025 −4.9 pp | Dec 2025 −1.5 pp | Mar 2026 −0.5 pp | Jun 2026 0.0 pp
- FCN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −0.2 pp | Dec 2022 +0.7 pp | Mar 2023 −0.7 pp | Jun 2023 +0.8 pp | Sep 2023 +0.5 pp | Dec 2023 +1.7 pp | Mar 2024 +1.1 pp | Jun 2024 +0.5 pp | Sep 2024 −0.8 pp | Dec 2024 −2.6 pp | Mar 2025 −0.9 pp | Jun 2025 −0.3 pp | Sep 2025 +1.0 pp | Dec 2025 +1.5 pp | Mar 2026 +0.1 pp | Jun 2026 —
- HURN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +1.1 pp | Dec 2022 +1.6 pp | Mar 2023 +0.1 pp | Jun 2023 +0.8 pp | Sep 2023 +0.6 pp | Dec 2023 +0.4 pp | Mar 2024 +0.1 pp | Jun 2024 +1.7 pp | Sep 2024 +0.4 pp | Dec 2024 +1.7 pp | Mar 2025 +1.0 pp | Jun 2025 −1.6 pp | Sep 2025 +0.3 pp | Dec 2025 −0.1 pp | Mar 2026 +0.1 pp | Jun 2026 —
- ICFI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −0.7 pp | Dec 2022 +0.1 pp | Mar 2023 −0.1 pp | Jun 2023 −0.1 pp | Sep 2023 −0.1 pp | Dec 2023 +0.8 pp | Mar 2024 +0.5 pp | Jun 2024 +0.5 pp | Sep 2024 +1.0 pp | Dec 2024 0.0 pp | Mar 2025 −0.1 pp | Jun 2025 −0.1 pp | Sep 2025 −0.5 pp | Dec 2025 −0.5 pp | Mar 2026 −0.2 pp | Jun 2026 —
- CRAI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +0.7 pp | Mar 2023 — | Jun 2023 −0.2 pp | Sep 2023 +0.5 pp | Dec 2023 −47.9 pp | Mar 2024 — | Jun 2024 −0.5 pp | Sep 2024 +0.8 pp | Dec 2024 −4.1 pp | Mar 2025 — | Jun 2025 +4.3 pp | Sep 2025 +1.0 pp | Dec 2025 +53.3 pp | Mar 2026 — | Jun 2026 −2.0 pp
- SBC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 +28.9 pp | Dec 2023 +16.8 pp | Mar 2024 +36.1 pp | Jun 2024 +159.8 pp | Sep 2024 −17.5 pp | Dec 2024 −14.3 pp | Mar 2025 −16.9 pp | Jun 2025 −149.0 pp | Sep 2025 −5.1 pp | Dec 2025 +2.4 pp | Mar 2026 −12.9 pp | Jun 2026 —
- EFTY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 −112.5 pp | Mar 2026 — | Jun 2026 —
- FORR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.6 pp | Dec 2022 −4.0 pp | Mar 2023 −3.3 pp | Jun 2023 −3.3 pp | Sep 2023 −0.9 pp | Dec 2023 +0.5 pp | Mar 2024 −1.4 pp | Jun 2024 +1.0 pp | Sep 2024 −1.7 pp | Dec 2024 +0.2 pp | Mar 2025 −30.1 pp | Jun 2025 −1.0 pp | Sep 2025 +1.9 pp | Dec 2025 −15.8 pp | Mar 2026 +23.4 pp | Jun 2026 —
- RGP: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +1.6 pp | Dec 2022 +0.7 pp | Mar 2023 −2.6 pp | Jun 2023 −2.6 pp | Sep 2023 −4.7 pp | Dec 2023 −3.4 pp | Mar 2024 −0.6 pp | Jun 2024 −1.2 pp | Sep 2024 −2.2 pp | Dec 2024 −21.3 pp | Mar 2025 −14.4 pp | Jun 2025 −22.2 pp | Sep 2025 +0.5 pp | Dec 2025 +15.1 pp | Mar 2026 +10.1 pp | Jun 2026 —
- EGG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −70.6 pp | Dec 2022 — | Mar 2023 — | Jun 2023 +94.5 pp | Sep 2023 +94.5 pp | Dec 2023 −180.6 pp | Mar 2024 −180.6 pp | Jun 2024 +21.2 pp | Sep 2024 +21.2 pp | Dec 2024 +39.8 pp | Mar 2025 +39.8 pp | Jun 2025 −49.0 pp | Sep 2025 −49.0 pp | Dec 2025 — | Mar 2026 — | Jun 2026 —

## Valuation Against Growth & Quality

What the numbers say: SBC Medical Group Holdings Incorporated has the lowest comparable Guarded PEG at 0.73×, 12% below Huron Consulting Group Inc.. Only 5 of 13 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

Evidence: SBC Medical Group Holdings Incorporated · 0.73× | 12% versus #2 · Huron Consulting Group Inc. | 0/8 recent comparable periods | 5/13 companies · 35 observations

Definition: PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data sources reconciled. A missing PEG is more honest than a low-base fiction.

### Guarded PEG — lowest PEG
1. SBC Medical Group Holdings Incorporated (SBC): 0.7
2. Huron Consulting Group Inc. (HURN): 0.8
3. FTI Consulting, Inc. (FCN): 1.4
4. ICF International, Inc. (ICFI): 1.4
5. Verisk Analytics, Inc. (VRSK): 1.7

### P/E — lowest P/E
1. Booz Allen Hamilton Holding Corporation (BAH): 9.5
2. SBC Medical Group Holdings Incorporated (SBC): 10.7
3. ICF International, Inc. (ICFI): 14.1
4. FTI Consulting, Inc. (FCN): 21.0
5. Huron Consulting Group Inc. (HURN): 21.8

### 20-quarter Guarded PEG history
- VRSK: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 1.3 | Jun 2024 0.9 | Sep 2024 0.9 | Dec 2024 0.7 | Mar 2025 1.7 | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- EFX: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 5.1 | Sep 2024 9.8 | Dec 2024 5.4 | Mar 2025 5.6 | Jun 2025 5.5 | Sep 2025 2.9 | Dec 2025 4.0 | Mar 2026 2.0 | Jun 2026 —
- BAH: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 0.3 | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- FCN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 3.9 | Sep 2023 3.7 | Dec 2023 1.5 | Mar 2024 0.7 | Jun 2024 0.6 | Sep 2024 0.9 | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 3.6 | Mar 2026 1.4 | Jun 2026 —
- HURN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 2.0 | Jun 2024 1.5 | Sep 2024 1.3 | Dec 2024 — | Mar 2025 — | Jun 2025 0.7 | Sep 2025 0.8 | Dec 2025 — | Mar 2026 — | Jun 2026 —
- ICFI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 1.1 | Mar 2024 0.6 | Jun 2024 0.5 | Sep 2024 0.5 | Dec 2024 0.6 | Mar 2025 0.8 | Jun 2025 1.4 | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- SBC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 0.7 | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —

### 20-quarter P/E history
- VRSK: Sep 2021 46.8 | Dec 2021 56.1 | Mar 2022 36.3 | Jun 2022 27.8 | Sep 2022 28.3 | Dec 2022 29.4 | Mar 2023 47.6 | Jun 2023 54.6 | Sep 2023 53.9 | Dec 2023 57.3 | Mar 2024 43.6 | Jun 2024 43.4 | Sep 2024 41.5 | Dec 2024 41.1 | Mar 2025 43.6 | Jun 2025 48.0 | Sep 2025 38.3 | Dec 2025 34.5 | Mar 2026 28.9 | Jun 2026 —
- EFX: Sep 2021 44.9 | Dec 2021 48.6 | Mar 2022 38.3 | Jun 2022 30.1 | Sep 2022 29.8 | Dec 2022 34.4 | Mar 2023 42.6 | Jun 2023 55.4 | Sep 2023 43.4 | Dec 2023 56.2 | Mar 2024 59.6 | Jun 2024 51.8 | Sep 2024 65.3 | Dec 2024 52.7 | Mar 2025 49.8 | Jun 2025 50.8 | Sep 2025 48.7 | Dec 2025 40.8 | Mar 2026 31.7 | Jun 2026 27.9
- BAH: Sep 2021 18.6 | Dec 2021 20.2 | Mar 2022 25.5 | Jun 2022 23.8 | Sep 2022 23.4 | Dec 2022 32.5 | Mar 2023 45.7 | Jun 2023 50.5 | Sep 2023 49.2 | Dec 2023 41.3 | Mar 2024 32.3 | Jun 2024 33.1 | Sep 2024 25.6 | Dec 2024 19.2 | Mar 2025 14.4 | Jun 2025 12.8 | Sep 2025 15.3 | Dec 2025 12.5 | Mar 2026 11.3 | Jun 2026 9.5
- FCN: Sep 2021 18.9 | Dec 2021 23.1 | Mar 2022 24.3 | Jun 2022 29.6 | Sep 2022 26.3 | Dec 2022 22.7 | Mar 2023 31.6 | Jun 2023 29.0 | Sep 2023 26.4 | Dec 2023 25.8 | Mar 2024 24.5 | Jun 2024 23.5 | Sep 2024 26.2 | Dec 2024 24.5 | Mar 2025 22.5 | Jun 2025 22.8 | Sep 2025 20.6 | Dec 2025 20.7 | Mar 2026 21.0 | Jun 2026 —
- HURN: Sep 2021 43.7 | Dec 2021 17.3 | Mar 2022 11.6 | Jun 2022 16.2 | Sep 2022 15.6 | Dec 2022 20.0 | Mar 2023 26.4 | Jun 2023 23.2 | Sep 2023 26.7 | Dec 2023 32.2 | Mar 2024 27.8 | Jun 2024 23.3 | Sep 2024 23.6 | Dec 2024 19.8 | Mar 2025 21.5 | Jun 2025 24.0 | Sep 2025 24.6 | Dec 2025 29.6 | Mar 2026 21.8 | Jun 2026 —
- ICFI: Sep 2021 23.7 | Dec 2021 27.6 | Mar 2022 25.4 | Jun 2022 26.3 | Sep 2022 30.7 | Dec 2022 29.3 | Mar 2023 33.0 | Jun 2023 36.4 | Sep 2023 33.0 | Dec 2023 30.8 | Mar 2024 30.6 | Jun 2024 28.5 | Sep 2024 29.3 | Dec 2024 20.5 | Mar 2025 14.6 | Jun 2025 14.7 | Sep 2025 17.5 | Dec 2025 17.2 | Mar 2026 14.1 | Jun 2026 —
- CRAI: Sep 2021 — | Dec 2021 19.7 | Mar 2022 17.1 | Jun 2022 15.2 | Sep 2022 15.7 | Dec 2022 15.1 | Mar 2023 — | Jun 2023 19.2 | Sep 2023 18.9 | Dec 2023 18.3 | Mar 2024 24.4 | Jun 2024 30.1 | Sep 2024 27.2 | Dec 2024 27.7 | Mar 2025 — | Jun 2025 62.7 | Sep 2025 56.3 | Dec 2025 55.8 | Mar 2026 24.6 | Jun 2026 45.1
- SBC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 12.9 | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 25.6 | Mar 2024 27.6 | Jun 2024 20.4 | Sep 2024 13.7 | Dec 2024 11.6 | Mar 2025 6.4 | Jun 2025 14.5 | Sep 2025 10.6 | Dec 2025 8.6 | Mar 2026 10.7 | Jun 2026 —
- FORR: Sep 2021 49.3 | Dec 2021 45.9 | Mar 2022 43.7 | Jun 2022 30.3 | Sep 2022 22.1 | Dec 2022 31.4 | Mar 2023 46.2 | Jun 2023 111.9 | Sep 2023 262.7 | Dec 2023 167.6 | Mar 2024 718.7 | Jun 2024 213.5 | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- RGP: Sep 2021 14.7 | Dec 2021 11.4 | Mar 2022 8.0 | Jun 2022 9.1 | Sep 2022 9.6 | Dec 2022 8.7 | Mar 2023 9.7 | Jun 2023 9.8 | Sep 2023 13.2 | Dec 2023 17.8 | Mar 2024 20.1 | Jun 2024 18.0 | Sep 2024 28.3 | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —

## Enterprise Value & Book Value

What the numbers say: SBC Medical Group Holdings Incorporated leads ev/ebitda at 5.15×; Resources Connection, Inc. leads p/bv at 0.69×.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

Evidence: SBC Medical Group Holdings Incorporated · 5.15× | 42.3% versus #2 · Booz Allen Hamilton Holding Corporation | 0/8 recent comparable periods | 10/13 companies · 166 observations

Definition: EV/EBITDA includes debt in enterprise value and is useful across different capital structures. P/BV prices the company against its own book. Both are market multiples on reported figures, not intrinsic-value estimates and not forecasts.

### EV/EBITDA — lowest EV/EBITDA
1. SBC Medical Group Holdings Incorporated (SBC): 5.2
2. Booz Allen Hamilton Holding Corporation (BAH): 8.9
3. ICF International, Inc. (ICFI): 9.0
4. Resources Connection, Inc. (RGP): 10.1
5. Equifax Inc. (EFX): 12.7

### P/BV — lowest P/BV
1. Resources Connection, Inc. (RGP): 0.7
2. Forrester Research, Inc. (FORR): 1.0
3. ICF International, Inc. (ICFI): 1.2
4. SBC Medical Group Holdings Incorporated (SBC): 1.7
5. FTI Consulting, Inc. (FCN): 3.2

### 20-quarter EV/EBITDA history
- VRSK: Sep 2021 24.7 | Dec 2021 31.3 | Mar 2022 21.4 | Jun 2022 17.8 | Sep 2022 17.9 | Dec 2022 17.8 | Mar 2023 22.1 | Jun 2023 25.0 | Sep 2023 25.9 | Dec 2023 26.2 | Mar 2024 25.3 | Jun 2024 28.0 | Sep 2024 27.1 | Dec 2024 26.7 | Mar 2025 28.0 | Jun 2025 28.4 | Sep 2025 22.6 | Dec 2025 20.2 | Mar 2026 17.1 | Jun 2026 —
- EFX: Sep 2021 22.7 | Dec 2021 25.1 | Mar 2022 20.7 | Jun 2022 16.4 | Sep 2022 15.8 | Dec 2022 18.1 | Mar 2023 20.2 | Jun 2023 23.7 | Sep 2023 19.3 | Dec 2023 23.3 | Mar 2024 24.3 | Jun 2024 21.5 | Sep 2024 25.0 | Dec 2024 21.2 | Mar 2025 20.2 | Jun 2025 20.7 | Sep 2025 20.0 | Dec 2025 17.1 | Mar 2026 14.2 | Jun 2026 12.7
- BAH: Sep 2021 15.8 | Dec 2021 16.5 | Mar 2022 16.9 | Jun 2022 16.0 | Sep 2022 15.9 | Dec 2022 20.7 | Mar 2023 24.3 | Jun 2023 27.4 | Sep 2023 25.3 | Dec 2023 22.5 | Mar 2024 19.0 | Jun 2024 19.4 | Sep 2024 16.1 | Dec 2024 12.8 | Mar 2025 10.7 | Jun 2025 10.7 | Sep 2025 12.3 | Dec 2025 11.1 | Mar 2026 10.7 | Jun 2026 8.9
- FCN: Sep 2021 14.1 | Dec 2021 16.4 | Mar 2022 18.2 | Jun 2022 22.2 | Sep 2022 20.2 | Dec 2022 15.6 | Mar 2023 23.4 | Jun 2023 21.1 | Sep 2023 19.4 | Dec 2023 16.5 | Mar 2024 18.5 | Jun 2024 18.1 | Sep 2024 19.4 | Dec 2024 16.2 | Mar 2025 15.8 | Jun 2025 15.7 | Sep 2025 14.2 | Dec 2025 12.8 | Mar 2026 13.7 | Jun 2026 —
- HURN: Sep 2021 24.7 | Dec 2021 17.4 | Mar 2022 15.4 | Jun 2022 17.0 | Sep 2022 15.1 | Dec 2022 13.6 | Mar 2023 15.7 | Jun 2023 14.6 | Sep 2023 16.1 | Dec 2023 14.9 | Mar 2024 15.6 | Jun 2024 13.4 | Sep 2024 13.6 | Dec 2024 13.3 | Mar 2025 15.0 | Jun 2025 15.4 | Sep 2025 15.3 | Dec 2025 16.6 | Mar 2026 13.6 | Jun 2026 —
- ICFI: Sep 2021 14.2 | Dec 2021 18.0 | Mar 2022 16.9 | Jun 2022 16.9 | Sep 2022 20.3 | Dec 2022 16.6 | Mar 2023 17.1 | Jun 2023 17.9 | Sep 2023 16.7 | Dec 2023 16.4 | Mar 2024 17.4 | Jun 2024 16.4 | Sep 2024 16.9 | Dec 2024 12.9 | Mar 2025 10.3 | Jun 2025 10.1 | Sep 2025 11.1 | Dec 2025 10.4 | Mar 2026 9.0 | Jun 2026 —
- CRAI: Sep 2021 — | Dec 2021 13.2 | Mar 2022 11.1 | Jun 2022 11.3 | Sep 2022 12.1 | Dec 2022 11.1 | Mar 2023 — | Jun 2023 13.6 | Sep 2023 12.8 | Dec 2023 10.8 | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 10.2 | Mar 2025 — | Jun 2025 30.6 | Sep 2025 29.2 | Dec 2025 28.8 | Mar 2026 10.6 | Jun 2026 25.7
- SBC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 5.9 | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 0.7 | Sep 2024 7.5 | Dec 2024 6.2 | Mar 2025 2.9 | Jun 2025 5.6 | Sep 2025 5.6 | Dec 2025 4.9 | Mar 2026 5.2 | Jun 2026 —
- FORR: Sep 2021 16.7 | Dec 2021 17.8 | Mar 2022 17.2 | Jun 2022 12.9 | Sep 2022 9.5 | Dec 2022 12.0 | Mar 2023 13.6 | Jun 2023 17.1 | Sep 2023 19.8 | Dec 2023 17.1 | Mar 2024 16.3 | Jun 2024 11.4 | Sep 2024 16.1 | Dec 2024 14.0 | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- RGP: Sep 2021 11.6 | Dec 2021 9.2 | Mar 2022 7.0 | Jun 2022 6.3 | Sep 2022 6.7 | Dec 2022 5.8 | Mar 2023 5.7 | Jun 2023 5.2 | Sep 2023 6.9 | Dec 2023 8.7 | Mar 2024 8.1 | Jun 2024 7.5 | Sep 2024 10.1 | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —

### 20-quarter P/BV history
- VRSK: Sep 2021 11.9 | Dec 2021 13.1 | Mar 2022 12.8 | Jun 2022 11.7 | Sep 2022 13.5 | Dec 2022 15.6 | Mar 2023 405.5 | Jun 2023 111.5 | Sep 2023 89.1 | Dec 2023 110.4 | Mar 2024 119.3 | Jun 2024 89.2 | Sep 2024 126.5 | Dec 2024 386.4 | Mar 2025 338.7 | Jun 2025 139.6 | Sep 2025 93.1 | Dec 2025 100.2 | Mar 2026 -21.3 | Jun 2026 —
- EFX: Sep 2021 8.7 | Dec 2021 10.0 | Mar 2022 7.6 | Jun 2022 5.9 | Sep 2022 5.6 | Dec 2022 6.0 | Mar 2023 6.1 | Jun 2023 6.9 | Sep 2023 5.3 | Dec 2023 6.7 | Mar 2024 7.3 | Jun 2024 6.4 | Sep 2024 7.4 | Dec 2024 6.6 | Mar 2025 6.1 | Jun 2025 6.3 | Sep 2025 6.4 | Dec 2025 5.7 | Mar 2026 4.7 | Jun 2026 4.3
- BAH: Sep 2021 10.2 | Dec 2021 10.6 | Mar 2022 11.1 | Jun 2022 10.9 | Sep 2022 10.0 | Dec 2022 11.5 | Mar 2023 12.3 | Jun 2023 14.4 | Sep 2023 13.3 | Dec 2023 15.3 | Mar 2024 18.4 | Jun 2024 18.4 | Sep 2024 17.3 | Dec 2024 13.5 | Mar 2025 13.0 | Jun 2025 12.1 | Sep 2025 12.3 | Dec 2025 10.0 | Mar 2026 8.5 | Jun 2026 6.1
- FCN: Sep 2021 3.0 | Dec 2021 3.3 | Mar 2022 3.3 | Jun 2022 3.8 | Sep 2022 3.5 | Dec 2022 3.2 | Mar 2023 3.9 | Jun 2023 3.6 | Sep 2023 3.4 | Dec 2023 3.6 | Mar 2024 3.7 | Jun 2024 3.6 | Sep 2024 3.6 | Dec 2024 3.0 | Mar 2025 2.7 | Jun 2025 2.8 | Sep 2025 2.9 | Dec 2025 3.0 | Mar 2026 3.2 | Jun 2026 —
- HURN: Sep 2021 2.0 | Dec 2021 1.9 | Mar 2022 1.6 | Jun 2022 2.3 | Sep 2022 2.3 | Dec 2022 2.5 | Mar 2023 2.9 | Jun 2023 2.9 | Sep 2023 3.5 | Dec 2023 3.5 | Mar 2024 3.5 | Jun 2024 3.5 | Sep 2024 3.7 | Dec 2024 3.9 | Mar 2025 5.1 | Jun 2025 5.0 | Sep 2025 5.1 | Dec 2025 5.6 | Mar 2026 5.3 | Jun 2026 —
- ICFI: Sep 2021 2.1 | Dec 2021 2.4 | Mar 2022 2.2 | Jun 2022 2.2 | Sep 2022 2.5 | Dec 2022 2.2 | Mar 2023 2.4 | Jun 2023 2.7 | Sep 2023 2.5 | Dec 2023 2.8 | Mar 2024 3.1 | Jun 2024 3.0 | Sep 2024 3.2 | Dec 2024 2.3 | Mar 2025 1.6 | Jun 2025 1.6 | Sep 2025 1.7 | Dec 2025 1.5 | Mar 2026 1.2 | Jun 2026 —
- CRAI: Sep 2021 — | Dec 2021 3.7 | Mar 2022 3.3 | Jun 2022 3.0 | Sep 2022 3.2 | Dec 2022 3.1 | Mar 2023 — | Jun 2023 3.8 | Sep 2023 3.5 | Dec 2023 3.2 | Mar 2024 4.9 | Jun 2024 6.1 | Sep 2024 5.6 | Dec 2024 6.0 | Mar 2025 — | Jun 2025 4.9 | Sep 2025 6.5 | Dec 2025 6.4 | Mar 2026 6.2 | Jun 2026 5.4
- SBC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -45.0 | Dec 2022 -10.8 | Mar 2023 -10.0 | Jun 2023 -7.1 | Sep 2023 -6.8 | Dec 2023 0.3 | Mar 2024 7.1 | Jun 2024 7.4 | Sep 2024 4.0 | Dec 2024 2.9 | Mar 2025 1.5 | Jun 2025 2.0 | Sep 2025 1.8 | Dec 2025 1.8 | Mar 2026 1.7 | Jun 2026 —
- EFTY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 48.5 | Mar 2026 — | Jun 2026 —
- FORR: Sep 2021 4.7 | Dec 2021 5.5 | Mar 2022 5.3 | Jun 2022 4.3 | Sep 2022 3.2 | Dec 2022 3.1 | Mar 2023 2.8 | Jun 2023 2.4 | Sep 2023 2.4 | Dec 2023 2.2 | Mar 2024 1.8 | Jun 2024 1.4 | Sep 2024 1.5 | Dec 2024 1.3 | Mar 2025 1.2 | Jun 2025 1.2 | Sep 2025 1.3 | Dec 2025 1.2 | Mar 2026 1.0 | Jun 2026 —
- RGP: Sep 2021 1.6 | Dec 2021 1.7 | Mar 2022 1.6 | Jun 2022 1.6 | Sep 2022 1.8 | Dec 2022 1.6 | Mar 2023 1.5 | Jun 2023 1.3 | Sep 2023 1.2 | Dec 2023 1.1 | Mar 2024 1.1 | Jun 2024 0.9 | Sep 2024 0.8 | Dec 2024 0.9 | Mar 2025 0.9 | Jun 2025 0.8 | Sep 2025 0.8 | Dec 2025 0.8 | Mar 2026 0.7 | Jun 2026 —

## Market action

Etoiles Capital Group Co., Ltd has the strongest one-year price move in Consulting Services at +136.5%. Forrester Research, Inc. leads on Mansfield relative strength against the S&P 500 at +22.9%. 1 of 11 covered companies is above zero on that measure. Every line covers 314 weekly closes through 2026-07-28.

### Strongest one-year price performers
1. Etoiles Capital Group Co., Ltd (EFTY): 137%
2. CRA International, Inc. (CRAI): 5.8%
3. FTI Consulting, Inc. (FCN): 1.0%
4. Huron Consulting Group Inc. (HURN): -0.5%
5. Forrester Research, Inc. (FORR): -5.8%

### Strongest relative strength versus NIFTY 500
1. Forrester Research, Inc. (FORR): 23%
2. CRA International, Inc. (CRAI): -5.1%
3. ICF International, Inc. (ICFI): -5.3%
4. FTI Consulting, Inc. (FCN): -6.4%
5. Verisk Analytics, Inc. (VRSK): -6.9%

## What can make this comparison misleading?
- A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
- A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
- The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
- An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
- 2 companies have older fundamental reporting dates than the sector’s freshest reporters; their ranks carry a stale marker.

## Every company
- Verisk Analytics, Inc. (VRSK) — market value ₹27.8K Cr; latest fundamentals Mar 2026
- Equifax Inc. (EFX) — market value ₹22.0K Cr; latest fundamentals Jun 2026
- Booz Allen Hamilton Holding Corporation (BAH) — market value ₹8.8K Cr; latest fundamentals Jun 2026
- FTI Consulting, Inc. (FCN) — market value ₹4.9K Cr; latest fundamentals Mar 2026
- Huron Consulting Group Inc. (HURN) — market value ₹1.8K Cr; latest fundamentals Mar 2026
- ICF International, Inc. (ICFI) — market value ₹1.5K Cr; latest fundamentals Mar 2026
- CRA International, Inc. (CRAI) — market value ₹1.2K Cr; latest fundamentals Jun 2026
- SBC Medical Group Holdings Incorporated (SBC) — market value ₹330 Cr; latest fundamentals Mar 2026
- Etoiles Capital Group Co., Ltd (EFTY) — market value ₹302 Cr; latest fundamentals Dec 2025
- Forrester Research, Inc. (FORR) — market value ₹200 Cr; latest fundamentals Mar 2026
- Resources Connection, Inc. (RGP) — market value ₹136 Cr; latest fundamentals Mar 2026
- Zi Yun Dong Fang Limited (YLY) — market value ₹106 Cr; latest fundamentals unavailable
- Enigmatig Limited (EGG) — market value ₹57 Cr; latest fundamentals Sep 2025

## Methodology and freshness

Fundamentals through Jun 2026; prices through 2026-07-28.
Up to 20 quarters per company. Reported history is normalized to Indian rupees crore. Missing values are not interpolated. Derived metrics are calculated only when their inputs are comparable.

## Frequently asked questions

### Which Consulting Services company is the biggest?

FTI Consulting, Inc. is the largest, with trailing-twelve-month revenue of $3,874 million, ahead of Verisk Analytics, Inc. at $3,103 million. That covers 7 of 13 companies with comparable reporting through Mar 2026.

### Which Consulting Services company is growing fastest?

Huron Consulting Group Inc. has the fastest revenue growth at 11.8% year on year, across 7 of 13 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.

### Which Consulting Services company has the best profit margins?

Verisk Analytics, Inc. has the highest operating margin at 45%, from 11 of 13 comparable companies. Forrester Research, Inc. shows the biggest recent improvement, at +75.7 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

### Which Consulting Services company makes the most profit?

Verisk Analytics, Inc. earns the most, at $910 million of trailing-twelve-month net profit, from 8 of 13 comparable companies. FTI Consulting, Inc. has the fastest profit growth at 2.3%, though growth off a small or recovering profit base overstates how much has actually changed.

### Which Consulting Services company earns the highest return on capital?

Zi Yun Dong Fang Limited leads on return on capital employed at 110.6%, across 13 of 13 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

### Which Consulting Services stock is the cheapest?

On guarded PEG — where a LOWER number is cheaper — SBC Medical Group Holdings Incorporated screens cheapest at 0.73×. Only 5 of 13 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

### Which Consulting Services company has the strongest balance sheet?

Etoiles Capital Group Co., Ltd carries the lowest comparable gross debt at $2 million, from 11 of 13 companies. Absolute rupee debt alone does not settle it, because company scale differs — net debt and debt-to-equity in the chart above carry more information, and a very low-debt balance sheet can also mean under-investment.

### Which Consulting Services company is investing most in new capacity?

Equifax Inc. reports the largest capital spending at $135 million, across 12 of 13 companies. Spending consumes cash before it earns anything, so treat the ranking as a diligence queue: check commissioning, utilisation and the return earned on the completed assets before reading spend as value creation.

### Is the Consulting Services sector beating the market?

Consulting Services has outperformed S&P 500 by 13% over the last 52 weeks and 8.6% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 1 of 11 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

### Which Consulting Services stock has the strongest price momentum?

Forrester Research, Inc. has the strongest relative strength against S&P 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

### Which Consulting Services company scores highest for research priority?

Verisk Analytics, Inc. scores 54.6 out of 100 with 82% evidence confidence, from 22.4 points on growth and earnings, 13.4 on capital efficiency, 7.3 on valuation and 11.5 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

### How many Consulting Services companies does this comparison cover, and over what period?

It compares 13 listed companies over up to 20 reported quarters of fundamentals and 6 fiscal years of capital allocation, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

### What is the total market cap of the Consulting Services sector?

The 13 Consulting Services companies on this page carry $69,172 million of combined market value. Verisk Analytics, Inc. is the largest at $27,811 million, about 40% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-28.

### What is the Consulting Services sector's P/E ratio?

The median price-to-earnings ratio across the 13 Consulting Services companies on this page is 27.9×, measured on the 10 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-07-28.

### How is the Consulting Services sector performing?

1 of the 11 covered Consulting Services companies are beating S&P 500 on Mansfield relative strength. The sector itself is 13% ahead of S&P 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-07-28.

### How many Consulting Services stocks are listed in the US?

This comparison covers 13 listed Consulting Services companies in the US, each above the size floor the site applies. The full ranked list is on this page, with reported fundamentals through Jun 2026. Membership is the full industry list — nothing is dropped for having thin data.

### Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

### Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.

Narrative sector analysis: https://www.sectoralpha.in/sectors/consulting-services