Huron Consulting Group Inc. · NASDAQ:HURN
Huron Consulting — Investor Presentation (July 2025)
44 slides from Huron Consulting's investor presentation, July 2025
Slide 1: Huron Consulting Group Inc. Investor Presentation
Huron Consulting Group Inc. Investor Presentation July 2025 © 2025 Huron Consulting Group Inc. and affiliates.
Slide 2: Forward-Looking Statements
HURON | 2 Forward-Looking Statements Statements in this presentation that are not historical in nature, including those concerning the company’s current expectations about its future results, are “forward-looking” statements as defined in Section 21E of the Securities Exchange Act of 1934, as amende
Slide 3: Use of non-GAAP financial measures
HURON | 3 Use of non-GAAP financial measures In evaluating the company’s financial performance and outlook, management uses earnings before interest, taxes, depreciation and amortization (“EBITDA”), adjusted EBITDA, adjusted EBITDA as a percentage of revenues before reimbursable expenses, adjusted n
Slide 4: Our Business
Our Business © 2025 Huron Consulting Group Inc. and affiliates.
Slide 5: Focused on Serving Enduring End Markets; 2024 Financial Results
HURON | 5 Huron is a global professional services firm that collaborates with clients to put possible into practice by creating sound strategies, optimizing operations, accelerating digital transformation, and empowering businesses and their people to own their future. By embracing diverse perspecti
Slide 6: Our refreshed strategy for driving shareholder value
HURON | 6 Our refreshed strategy for driving shareholder value 1 2025+ Focus Leading Market Positions In Two Sustaining accelerated Medium-term Critical Industries growth in Healthcare and financial targets: Education ----------------------------- 2025+ Focus • Low double-digit 2 Growing Our Busine
Slide 7: Market-tested strategy and disciplined execution has driven results
HURON | 7 Market-tested strategy and disciplined execution has driven results and significant shareholder value Progress from 2021 to 2024(1) Drove Significant + + = Meaningfully Significantly Expanded Increased Shareholder Increased Revenue Margins Earnings Per Value Share (EPS) Creation • 18% Reve
Slide 8: Compelling mix of industry-differentiated offerings
HURON | 8 Compelling mix of industry-differentiated offerings Industries of Focus Healthcare Education Financial Energy and Industrials and Public Services Utilities Manufacturing Sector Capabilities Mix Consulting and Managed Services 2024 Revenues before Building on our long-term client relationsh
Slide 9: Our global enterprise platform and client-centric approach
HURON | 9 Our global enterprise platform is designed to provide a client-centric approach and bring the full breadth of Huron’s offerings to our industries of focus Commercial Financial Energy & Other Healthcare Education Industry Industry Services Utilities Commercial Industry Industry Industry Ind
Slide 10: Competitive advantage enabled by our collaborative culture and talented team
H U R O N | 10 Competitive advantage enabled by our distinct collaborative culture and highly talented and engaged team Vault Consulting Handshake Early Great Place to Work Talent Award Certified by Great Recognized as one of North Recognized as a best place Place To Work® in the America's Most Pre
Slide 11: Our Market Opportunity and Growth Initiatives
Our Market Opportunity and Growth Initiatives © 2025 Huron Consulting Group Inc. and affiliates.
Slide 12: Operate in a large, growing industry facing disruption
H U R O N | 12 Operate in a large, growing industry with core end markets facing significant disruption and/or regulatory change Total addressable market (TAM): $220B+ Healthcare(1) $63B Education(2) $35B Commercial Industries of Focus Financial Services(3) $23B Energy & Utilities(4) $22B Industrial
Slide 13: Healthcare segment
Healthcare segment H U R O N | 13 Healthcare Client Portfolio (As a % of 2024 Healthcare RBR) Our breadth of offerings creates a full-service partner, spanning strategy Other Healthcare 4% Hospitals, Health Systems, & and innovation, operations, digital and human capital management Payor 2% Physicia
Slide 14: A dynamic market environment
H U R O N | 14 A dynamic market environment The healthcare industry remains an attractive market where we are well positioned to build upon our leading market position as our clients’ trusted advisor Illustrative Challenges REGULATORY WATCH Potential near or medium-term impacts facing our clients CO
Slide 15: Sustaining accelerated growth in healthcare
H U R O N | 15 Sustaining accelerated growth in healthcare We will continue to be nimble and innovative while leveraging our unique ability to bring the full breadth of our offerings to bear for our clients in order to enhance our competitive advantage in the market the Cor G Portfolio Enhancement n
Slide 16: Our Healthcare business is a market leader with strong growth potential
H U R O N | 16 Our Healthcare business is a market leader with strong growth potential Strong Client Proven, Demonstrated Growing End Sustaining Relationships Consistent Track Record of Market Growth Client Results Performance Our strong client The healthcare industry We have and will relationships
Slide 17: Education segment
H U R O N | 17 Education segment Education Client Portfolio (As a % of 2024 Education RBR) Other Education and Nonprofit 7% Our breadth of offerings creates a full-service partner, spanning 4-Year Institution, System Office 9% Public 41% strategy and operations, digital and organizational transforma
Slide 18: A dynamic market environment
H U R O N | 18 A dynamic market environment The education industry remains an attractive end market as it faces potentially significant regulatory changes and an increasingly competitive landscape, which we believe play to our strengths given our scale and breadth of offerings Illustrative Challenge
Slide 19: Sustaining our accelerated growth trajectory
H U R O N | 19 Sustaining our accelerated growth trajectory We aim to increase our competitive advantage by building upon the strong foundation of our core business while further broadening our portfolio Portfolio Enhancement • Further diversify our consulting Portfolio Advancement n the Cor G and d
Slide 20: Our Education business is a market leader with strong growth potential
H U R O N | 20 Our Education business is a market leader with strong growth potential Clear Proven Growth Dynamic Market Sustaining Growth Differentiation Strategy The education industry is Trajectory Our strong client Our growth strategy and facing a dynamic We have and will continue relationships,
Slide 21: Commercial segment
Commercial segment H U R O N | 21 Commercial Industry Portfolio (As a % of 2024 Commercial RBR) We are a focused partner with distinct competitive advantage across Industrials and Manufacturing 16% our offerings Other 31% Consulting Managed Industry-specific $256M Financial Services Across Industri
Slide 22: A shifting competitive environment
H U R O N | 22 A shifting competitive environment Commercial industries face significant regulatory change and ongoing disruption as government mandates shift and the market landscape becomes increasingly competitive Illustrative Challenges Macroeconomic and Rise in AI and Physical and Digital REGUL
Slide 23: Sustaining our accelerated growth trajectory
H U R O N | 23 Sustaining our accelerated growth trajectory We aim to increase our competitive advantage by building upon the strong foundation of our core business while further broadening our portfolio Portfolio Enhancement • Invest further in current offering Portfolio Advancement adjacencies – s
Slide 24: Our Commercial segment has points of unique competitive differentiation
H U R O N | 24 Our Commercial segment has points of unique competitive differentiation across offerings that we believe we can build upon to further grow the segment Distinct Focused Sectors, Meaningful Balanced Competitive Large Market Growth Potential Portfolio Advantages We are focused on Signifi
Slide 25: Our Proven Results
Our Proven Results © 2025 Huron Consulting Group Inc. and affiliates.
Slide 26: Our proven results
Our proven results HURON | 26 Healthcare Education Financial Services Large, Multi-State Health System Premier U.S. Research Institution Northeastern U.S. Regional Bank Client Challenges Client Challenges Client Challenges • Significant financial and environmental • Sought greater liquidity ahead of
Slide 27: Our Financial Outlook
Our Financial Outlook © 2025 Huron Consulting Group Inc. and affiliates.
Slide 28: Strategic execution driving outperformance against 2022 investor day goals
H U R O N | 28 Disciplined strategic execution driving outperformance against 2022 investor day goals RBR & Adj. Diluted EPS(1) Adj. EBITDA(1) $1,800 $8.00 $1,660 $250 $237 18% RBR CAGR $1,600 (2021 to 2024) $7.00 $1,486 $7.50 $1,362 $201 $1,400 $200 $6.47 $6.00 $1,200 $1,132 $167 $5.00 $ in Million
Slide 29: Strong growth algorithm poised to drive shareholder value creation
H U R O N | 29 Strong growth algorithm poised to drive shareholder value creation 1 RBR Growth Goal: Low double-digit percentage RBR growth, primarily Grow driven by mid-upper single digit organic growth Revenues Grow Adj. EBITDA Margin(1) Expansion Goal: Expand adj. EBITDA margin to Margins 15-17%
Slide 30: Driving continued revenue growth
H U R O N | 30 Driving continued revenue growth Low Double Digit % • Reaffirmed commitment to low double-digit percentage RBR growth Grow RBR Growth Goals driven by: Revenues Achieved by: • Dynamic and • Mid-upper single digit organic RBR macroeconomically significant growth end markets create growt
Slide 31: A balanced portfolio of offerings across end markets and business cycles
H U R O N | 31 A balanced portfolio of offerings across end markets and business cycles Huron Offering Mix Healthcare Offering Mix Education Offering Mix Commercial Offering Mix (As a % of 2024 Huron RBR) (As a % of 2024 Healthcare RBR(1)) (As a % of 2024 Education RBR) (As a % of 2024 Commercial RB
Slide 32: Continued margin expansion
H U R O N | 32 Continued margin expansion Adj. EBITDA Grow • Committed to reinvesting for Revenues Margin(1) Expansion growth while driving Goals continued annual margin • Reaching the 15 to 17% expansion Grow range by 2029 Margins • Expansion of 50 to 75 • Key Margin Levers: & Cash bps per year • D
Slide 33: Runway for continued margin expansion
H U R O N | 33 Runway for continued margin expansion Multiple pathways to achieving our medium-term margin expansion goals Progress to date (2021 to 2024) Profitability Levers Opportunity Potential Medium-term Adj. EBITDA Margin Goal(3): • Increased project-level 15.0 – 17.0% contribution margin 230
Slide 34: Flexible balance sheet and strong underlying free cash flows
H U R O N | 34 Flexible balance sheet and strong underlying free cash flows Balance Sheet Optimization Free Cash Flow(1) $250 20% 18% 2024 Leverage $160 - $190 1.4x Free Cash Flow Yield $200 16% Ratio(2) $169 14% Free Cash Flow ($ in millions) $150 12% 10% $100 7.3% $100 8% 4.9% 2024 capital $61 6%
Slide 35: Strategic capital deployment framework
H U R O N | 35 Strategic capital deployment framework balances growth, flexibility and return of capital to shareholders Capital allocation strategy “North Stars” Target Free Cash Flow(1) Target Leverage Ratio of Guiding conversion of 75% of adj. 2.0x to 2.5x principles EBITDA (on average) Five-year
Slide 36: M&A will continue to shape our growth through a programmatic strategy
H U R O N | 36 M&A will continue to shape our growth trajectory through a programmatic strategy Our M&A Focus Proven M&A Approach • Well-defined enterprise and/or business unit strategy Portfolio Role Strategic Play alignment • Largely proprietary deal sourcing with some inbound pursuits Core Expand
Slide 37: Focused on identifying high quality, low risk opportunities
H U R O N | 37 Focused on identifying high quality, low risk opportunities that drive returns well in excess of WACC Revenue Potential at Scale Market Leadership Durable Organic Growth / Recurring Revenue Competitive Landscape Company Criteria Market Criteria Year 1 Margin and Investment Right to Wi
Slide 38: Successful programmatic acquisition track record
H U R O N | 38 Successful programmatic acquisition track record drives meaningful revenue contribution Perception Health AIMDATA GG+A Acquired: Acquired: Acquired: December 2021 January 2022 March 2024 Rationale: Rationale: Rationale: Bolster Huron’s care transformation, Enhance Huron’s data managem
Slide 39: Continued earnings growth
H U R O N | 39 Continued earnings growth Grow Low double-digit RBR Growth Revenues + Adj. Diluted EPS(1) Expand adj. EBITDA margin(1) to Growth Goal 15-17% by 2029 Grow Margins + & Cash • Double adj. diluted Flows EPS by 2029 Strong free cash flow conversion and balanced capital allocation = Grow EP
Slide 40: A clear and compelling investment thesis
H U R O N | 40 A clear and compelling investment thesis MEANINGFUL A PREEMINENT GROWTH EXPANSION OF CONTINUED STRONG BALANCE GLOBAL OPPORTUNITY IN INDUSTRY EXPERTISE MARGIN EXPANSION SHEET AND CASH CONSULTANCY AND OUR CORE AND CAPABILITIES OPPORTUNITY FLOW DIGITAL PARTNER INDUSTRIES Leading global O
Slide 41: Appendix
Appendix © 2024 2025 Huron Consulting Group Inc. and affiliates.
Slide 42: Reconciliations of Non-GAAP Measures
Reconciliations of Non-GAAP Measures(1) H U R O N | 42 Reconciliation of net income to adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) (in millions) 2021 2022 2023 2024 Revenues before reimbursable expenses $ 906 $ 1,132 $ 1,362 $ 1,486 Reimbursable expenses 21 27 37
Slide 43: Reconciliations of Non-GAAP Measures
H U R O N | 43 Reconciliations of Non-GAAP Measures(1) Reconciliation of net income (loss) from continuing operations to adjusted net income from continuing operations (in millions, except earnings per share) 2021 2022 2023 2024 Net income $ 63 $ 76 $ 62 $ 117 Weighted average shares – diluted 22 21
Slide 44: Reconciliations of Non-GAAP Measures
H U R O N | 44 Reconciliations of Non-GAAP Measures(1) Reconciliation of cash from operating activities to free cash flow (in millions) 2021 2022 2023 2024 Cash from operating activities $ 18 $ 85 $ 135 $ 201 Less: Capital expenditures (16) (24) (35) (33) Free cash flow $ 2 $ 61 $ 100 $ 169 Add back
Huron Consulting Group — Investor Presentation (July 2025) on 6ix