Three Industry Leaders Driving Growth in Consulting Services: Investment Opportunities Across Digital Transformation

The consulting services sector is experiencing robust expansion fueled by digital transformation initiatives and the normalization of remote work models. Within this thriving landscape, three companies—FTI Consulting, Inc. (FCN), Exponent, Inc. (EXPO), and CBIZ, Inc. (CBZ)—emerge as compelling opportunities for portfolios seeking exposure to the growth consulting space.

Understanding the Consulting Services Landscape

Professional services firms operating in management, IT, human resources, environmental compliance, logistics, marketing, and real estate have become essential partners for organizations navigating post-pandemic recovery. The industry encompasses major players alongside emerging specialists, all focused on channeling resources toward operational optimization, technology adoption, and analytics-driven strategies. As enterprises reassess their competitive positioning and identify emerging opportunities, growth consulting has become increasingly critical to their strategic planning.

Key Catalysts Propelling Industry Expansion

Sustained Momentum in Digital Transformation

The consulting services sector has followed an impressive growth trajectory since the 2008 financial crisis, driven primarily by continuous demand for digital transformation and innovation-powered solutions. This sustained expansion has translated into consistent revenue streams, profitability improvements, and robust cash generation, allowing industry participants to maintain reliable dividend distributions.

Macroeconomic Tailwinds

Economic resilience continues to benefit the sector significantly. According to the Bureau of Economic Analysis’s third estimate, U.S. GDP expanded 3.8% in Q2 2025, reversing the prior quarter’s 0.6% contraction. Services sector PMI remained above the 50% threshold throughout November, marking the ninth month this year of expansion in non-manufacturing activities. This economic backdrop ensures sustained demand for professional advisory services.

Resilience Against Disruption

The consulting industry has proven remarkably insulated from global volatility. Organizations consistently seek specialized guidance on workforce protection, stakeholder engagement, and consumer relationship management regardless of market conditions. The sector’s pioneering adoption of remote-first operations—now a market standard—positions firms to deliver services efficiently. Increasingly sophisticated AI applications, cloud-based collaboration platforms, and adaptive delivery methodologies enhance both service quality and operational margins.

Industry Valuation and Performance Metrics

Housed within the broader Business Services sector, the Consulting Services industry carries a Zacks Industry Rank of #80, placing it in the top 33% of 243 ranked industries. This positioning suggests meaningful near-term growth prospects, as historical analysis demonstrates top-50% ranked industries outperform bottom-50% counterparts by a factor exceeding 2:1.

On a valuation basis, the industry trades at 19.76X forward 12-month price-to-earnings, positioned below both the S&P 500’s 23.3X and the Business Services sector’s 20.56X. This pricing reflects a modest discount relative to broader benchmarks, offering attractive entry points for value-conscious investors.

Performance-wise, the industry declined 27% over the past 12 months compared to the S&P 500’s 18% gain and the sector’s 9% decline. This underperformance presents a potential contrarian opportunity for investors recognizing the sector’s fundamental strength and recovery potential.

Three Standout Operators in Growth Consulting

FTI Consulting: Diversification Across Global Markets

FTI Consulting’s competitive positioning reflects its diversified practice offerings and substantial international footprint. International operations generated approximately 36% of revenues in 2024, providing crucial revenue stability across economic cycles and geographic markets. The company’s specialized expertise across multiple industries and geographies mitigates concentration risk inherent in narrower competitors.

Revenue expansion has been deliberate and consistent, with compound annual growth of 8.5% from 2020 through 2024. Consensus analyst expectations for 2025 earnings per share have risen 4.3% over the past 60 days to $8.43, reflecting growing confidence in management execution. FCN carries a Zacks Rank of #2 (Buy), and the stock has appreciated 6% over the past month.

Exponent: Positioned for Emerging Tech Opportunities

Exponent demonstrates particular strength in navigating increasingly complex regulatory and safety requirements across multiple sectors. The company’s deep multidisciplinary talent base and technical expertise have generated consistent year-over-year growth in disputes spanning construction, automotive, and medical device sectors. Risk management services for utilities companies have further bolstered recent performance, partially offsetting moderation in chemical regulatory work.

Particularly noteworthy is accelerating activity in early-stage engagements linked to digital health applications, artificial intelligence validation, and distributed energy infrastructure—domains offering substantial expansion runway. This emerging work pipeline underscores Exponent’s positioning to sustain profitable growth and generate superior shareholder returns. The consensus estimate for 2025 EPS has increased 4.6% in 60 days to $2.06, while the stock has risen 8% recently. EXPO maintains a Zacks Rank of #2.

CBIZ: Strengthening Market Position Through Strategic Expansion

CBIZ has solidified its standing as a premier provider of financial, insurance, and advisory services to middle-market enterprises, a positioning reinforced by deepening specialization and competitive advantages. The firm is transitioning into a robust growth phase enabled by calculated strategic initiatives and market share gains. The completed Marcum integration represents a transformative event, expected to generate operational synergies, broaden service capabilities, and expand client relationships.

This acquisition substantially enhances CBIZ’s footprint, creates cross-selling pathways, and positions the organization for accelerated market penetration. The consensus estimate for 2025 EPS rose modestly to $3.62 over the past 60 days, and the stock has gained 7% recently. CBIZ carries a Zacks Rank of #2.

Investment Takeaway

The consulting services industry’s exposure to enduring secular trends—digital transformation, regulatory complexity, and evolving operational requirements—positions it favorably for sustained growth. Within this favorable landscape, FTI Consulting, Exponent, and CBIZ offer differentiated exposure to growth consulting opportunities through established market positions, proven operational execution, and catalysts supporting near-term appreciation potential.