Revenue Analysis
Total Revenue for FCN showed a progressive annual increase, starting from $806,706,000 in 2023-03-31 to $928,553,000 by 2024-03-31. Operating Revenue mirrored these figures as they were identical throughout the periods observed. Gross Profit margins increase marginally in the recent quarters with $253,197,000 in 2023-03-31 increasing to $302,519,000 by 2024-03-31.
Cost Management
The Cost of Revenue reflected an uptrend, rising from $553,509,000 in 2023-03-31 to $626,034,000 by 2024-03-31. Operating Expenses also showed a similar increasing trend from $186,395,000 to $202,886,000 in the same periods. Consequently, Total Expenses escalated from $739,904,000 in 2023-03-31 to $828,920,000 in 2024-03-31.
Profitability Analysis
EBITDA showed variable performance, peaking at $123,895,000 in 2023-09-30, before reducing to $112,654,000 by 2024-03-31. Operating Income saw a high of $115,021,000 in the quarter ending in 2023-12-31. Pretax Income followed a generally upward curve, peaking at $107,702,000 in 2023-09-30, whereas Net Income demonstrated an overall improvement from $47,547,000 in 2023-03-31 to $79,965,000 as of 2024-03-31.
Cash Flow Indicators
Reconciled Depreciation maintained steady figures with a bit of fluctuation peaking slightly at $13,400,000 by 2023-09-30 and standing at $11,440,000 by 2024-03-31. Interest Expense varied quartile to quartile, yet the metric was high at around $4,281,000 in 2023-03-31 and decreased to $1,719,000 by 2024-03-31.
Taxation
Tax rates varied across the years, with a high of 0.267 in the period ending 2023-06-30 and a low of 0.196 in the most recent period of 2024-03-31. Tax Provisions were recorded highest in 2023-09-30 at $24,385,000 and had a reducing trend to $19,530,000 by 2024-03-31. No tax effect of unusual items was observed through all periods.
Shareholder Metrics
Diluted EPS showed an incremental jump from 1.34 in 2023-03-31 to 2.23 by 2024-03-31. Basic EPS also increased from 1.43 to 2.29 within the same timeframe. Diluted Average Shares stayed around 35 million with slight variances, indicating consistent shareholder equity dilution. Net Income Available to Common Stockholders was congruent with the reported Net Income across all periods.
Conclusion
FCN demonstrated a solid performance with consistent revenue growth and improving profitability indicators over the observed periods. Despite increasing costs, the increased efficiency in expense management and profitability indices suggest a healthy operational stature. Continuing to monitor cost controls and enhancing operational efficiencies could be beneficial strategies moving forward.