休伦咨询 2025年度报告

About Huron Huron is a global professional services firm thatpartners with clients to putpossible into practiceby creating sound strategies, optimizing operations,accelerating digital transformation, and empoweringbusinesses to own their future. By embracing diverseperspectives, encouraging new ideas and challengingthe status quo, we create sustainable results for theorganizations we serve. Our Values Collaboration– We commit toworking with respect and transparencyand recognize we are better togetherthan apart. Impact– We are passionate aboutmaking a difference and take initiativeto have a lasting impact on theorganizations and communities we serve. Excellence– We strive to excel andcontinually exceed the expectationsof our clients and our people,holding each other accountable forour actions and outcomes. Inclusion– We embrace differentperspectives and draw on the strengthof our diversity. Integrity– We value authenticity andhonesty. We do the right thingregardless of the consequences. Humility– While confident in ourabilities, we realize that our currentknowledge is but a fraction of what wehave yet to learn, discover and create. Intellectual Curiosity– As lifelonglearners, we explore and encourage newideas and challenge the status quo. 2025 Financial Performance Full year revenues before reimbursable expenses (RBR) grew 12% over 2024, resulting in recordRBR and a fifth consecutive year of growth. We are pleased with our continued margin andearnings per share expansion in 2025, including achieving adjusted diluted earnings per sharegrowth of 21% over 2024. Our market-tested strategy, balanced portfolio of offerings, and strongexecution by our highly talented team has delivered strong financial performance for our businessand our shareholders consistent with the financial goals outlined at our investor day. Financial Results Revenues beforeReimbursable Expenses (RBR) $1.66B Revenue beforereimbursableexpenses (RBR)Grew 12% over 2024Net Income MarginCompared to 7.7% in 20246.2%Adjusted EBITDA Margin(1)Expanded 80 basis pointsover 202414.3% Cash Generation $193M Cash FlowsFrom OperationsFree Cash Flow(1)$162M By Capability Capital Allocation $166M Capital Returned toShareholders via ShareRepurchases Capital Deployed onAcquisitions and CapitalExpenditures$143M RBR Growth in our Portfolio Digital10%increaseLed by growth inthe commercial andeducation industries Commercial27% Education6%increase Healthcare11%increase Driven by broad-baseddemand across offeringsand our acquisitions ofAdvancement Resourcesand Halpin Partnership(3) Driven by demand forour Digital offerings andour acquisitions of Treliantand Wilson Perumal(4) Driven by strong demandfor our consulting andmanaged services offeringsand our acquisition ofEclipse Insights(2) Executing our Growth Strategy A Fifth ConsecutiveYear of Growth Agility and focus have never been moreimportant than in today’s rapidly evolvingenvironment. We are advising our clientson how they can adapt to compete andwin in an increasingly uncertain future.Guided by our integrated growth strategy,we are acting with discipline to do the same,strengthening our competitive advantageand continuing to evolve our business inthe age of advanced technologies, such asartificial intelligence (AI). We achieved our fifth consecutive yearof strong financial performance that metor exceeded our stated investor goals.We continued to serve our global clientswith excellence, execute our strategy withdiscipline, and support our 8,600 globalcolleagues through our strong, collaborativeculture. Our consistent progress hasenabled us to reinvest in our growth strategyand highly talented team, strengthen ourcompetitive advantage, and efficientlyscale our operations, further building uponour solid foundation to deliver long-termshareholder value. Our strategy continues to focus onenhancing our differentiation in the market,while guiding how we serve our clients,operate our business, and invest to grow.Coupled with our integrated operatingmodel, we believe each pillar of ourgrowth strategy reinforces the others,enabling us to address increasingly complexclient challenges, while driving innovationand sustainable financial performance inour business. Led by growth across all three operatingsegments, full year revenues beforereimbursable expenses (RBR) grew12% over 2024, resulting in record RBR anda fifth consecutive year of growth. We arealso pleased with our continued marginand earnings per share expansion in 2025.We have demonstrated the power of ourstrong growth algorithm over the last severalyears, culminating in an increase in totalshareholder return of nearly 40% in 2025. Key Pillars of Our Growth Strategy(1) Sustaining Strong Growthin Healthcare and Education These results reflect our commitment tocreating shareholder value, as well as thecontinued strength of our market-testedstrategy and support of our clients, theresilience of demand across our endmarkets, and t