Forensic Analysis · Professional & Commercial Services · as of Aug 8, 2026

Exponent Inc (EXPO)

A forensic read on Exponent Inc built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

A · High-quality compounder

Forensic grade

Safe

Financial health

14.7

Distress distance

Clean

Earnings quality

Forensic signals

29.8

P / E (ttm)

27.2%

ROE

$3.2B

Market cap

1.87%

Dividend yield

4.2%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Exponent Inc earns an A (High-quality compounder) forensic quality grade, and its balance-sheet distress test reads 14.7, placing it in the Safe zone. 2 forensic signals were flagged in its latest SEC filings, led by shareholder returns.

What the filings flag

129% of FCF

FY2026

Shareholder returns. Returned $158M to shareholders (buybacks + dividends) in FY2026 — 129% of free cash flow. More than free cash flow generated — and beyond operating cash too, so the extra is coming from debt or cash reserves, which isn't sustainable indefinitely. Counting the $24M of stock-based comp paid out in shares on top of that, the combined claim on free cash flow is 148%.

-0.5%/yr

FY2022–FY2026

Share count. Diluted share count changed -2% over the last 4 years to FY2026 (-0.5%/yr). Roughly flat — buybacks ($97M) are about offsetting stock comp ($24M), not shrinking the count. Per-share value isn't being meaningfully helped or hurt by the count.

Key fundamentals

Latest Revenue$582.0M

Revenue Growth YoY+4.2%

Revenue CAGR (3yr)+4.1%

Net Margin18.2%

Free Cash Flow$122.3M

Return on Equity27.2%

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Data from SEC EDGAR public filings · metrics as of Aug 8, 2026. Forensic signals flag probability, not certainty.