CRA INTERNATIONAL, INC. CRAI

Industrials SIC 8111 - Services-Legal Services NAICS Professional, Scientific, and Technical Services › Legal Services › Offices of Lawyers derived Nasdaq

Unless otherwise indicated or required by the context, when we use the terms "CRA", "the Company," "us," "we," or "our" we mean CRA International, Inc., a Massachusetts corporation, and its consolidated subsidiaries.

We are a leading global consulting firm specializing in providing economic, financial and management consulting services. We advise clients on economic and financial matters pertaining to litigation and regulatory proceedings, and guide corporations through critical business strategy and performance-related issues. Since our inception in 1965, we have been engaged by clients for our unique combination of functional expertise and industry knowledge, and for our objective solutions to complex problems. We combine economic and financial analysis with expertise in litigation and regulatory support, business strategy and planning, market and demand forecasting, and policy analysis. We are often retained in high-stakes matters, such as multibillion-dollar mergers and acquisitions, new product introductions, major strategy and capital investment decisions, and complex litigation, the outcomes of which often have significant consequences for the parties involved. These matters often require independent analysis and, as a result, the parties involved must rely on outside experts. Our analytical strength enables us to reach objective, factual conclusions that help clients make important business and policy decisions and resolve critical disputes. Clients turn to us because we can provide highly credentialed and experienced economic and finance experts to address critical, tough assignments, with high-stakes outcomes.

Last close 200.14 2026-10-23
Market cap $1.26B 2026-07-04 share count
52-week range 132.17 - 227.29

Valuation FY2025 figures against the last close

P/S1.7x
P/E24.6x
P/FCF67.7x
EV/EBITDA12.9x
Dividend yield1.1%
Diluted EPS8.14

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • United States
  • United Kingdom
  • Other
Revenue by geography, 3 categories over 3 years. The same figures are in the table below. FY2025 United States, FY2025: 602.2M (80.1%) 80% United States United Kingdom, FY2025: 101.2M (13.5%) 13% United Kingdom Other, FY2025: 48.2M (6.4%) 6% Other FY2024 United States, FY2024: 558.8M (81.3%) 81% United Kingdom, FY2024: 86.5M (12.6%) 13% Other, FY2024: 42.1M (6.1%) 6% FY2023 United States, FY2023: 493.9M (79.2%) 79% United Kingdom, FY2023: 94.4M (15.1%) 15% Other, FY2023: 35.6M (5.7%) 6%
Region FY2025FY2024FY2023
United States $602.2M $558.8M $493.9M
United Kingdom $101.2M $86.5M $94.4M
Other $48.2M $42.1M $35.6M

As the company reported it, from the “Revenues and Allowances - Disaggregation of Revenue (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $751.6M$687.4M$624.0M$590.9M$565.9M$508.4M$451.4M$417.6M$370.1M$324.8M
Cost of revenue ————————$258.8M$227.4M
Gross profit ————————$111.2M$97.4M
SG&A $135.0M$125.0M$115.1M$110.1M$97.4M$90.0M$93.6M$89.5M$86.5M$70.6M
Operating income $83.1M$70.8M$57.5M$58.7M$55.7M$34.8M$29.3M$28.9M$15.8M$18.9M
Interest expense $5.4M$4.4M$3.8M$1.8M$970.0K$1.2M$1.3M$647.0K$484.0K$469.0K
Pre-tax income $76.6M$66.2M$52.3M$58.8M$54.3M$33.6M$26.8M$28.9M$15.2M$21.9M
Income tax $21.8M$19.6M$13.8M$15.2M$12.6M$9.1M$6.0M$6.5M$7.5M$7.7M
Net income $54.8M$46.7M$38.5M$43.6M$41.7M$24.5M$20.7M$22.5M$7.6M$12.9M
EPS, basic 8.236.825.486.025.593.14————
EPS, diluted 8.146.745.395.915.453.07————
Shares, diluted (wtd. avg.) 6.7M6.9M7.1M7.4M7.6M7.9M8.2M8.6M8.5M8.6M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $18.2M$26.7M$45.6M$31.4M$66.1M$45.7M$25.6M$38.0M$54.0M$53.5M
Receivables $183.3M$162.3M$142.7M$143.6M$117.0M$111.6M$107.8M$94.5M$79.8M$66.9M
Total current assets $303.1M$269.4M$265.5M$248.9M$249.3M$220.0M$184.1M$181.1M$184.3M$170.5M
Property, plant and equipment $36.7M$45.2M$38.2M$45.6M$53.6M$62.9M$61.3M$48.1M$44.6M$36.4M
Goodwill $94.7M$93.7M$94.0M$92.9M$88.9M$89.2M$88.5M$88.2M$89.0M$74.8M
Other intangibles $5.7M$7.2M$7.2M$8.6M$4.2M$5.1M$6.5M$7.8M$9.2M$2.7M
Total assets $628.9M$571.4M$553.2M$550.9M$555.4M$558.5M$533.2M$370.8M$361.8M$323.6M
Accounts payable $30.2M$28.2M$28.7M$27.6M$23.5M$19.4M$26.1M$21.9M$18.5M$13.7M
Total current liabilities $330.0M$251.3M$236.1M$217.1M$213.1M$200.1M$171.4M$142.5M$122.0M$94.1M
Retained earnings $221.1M$225.5M$224.3M$224.4M$215.8M$217.0M$200.2M$186.2M$169.4M$166.9M
Total equity $213.6M$212.1M$212.1M$211.2M$205.8M$209.0M$197.8M$196.5M$207.2M$207.9M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $22.4M$49.7M$60.1M$25.1M$75.7M$54.7M$27.8M$36.2M$45.9M$48.2M
Depreciation and amortisation $14.1M$11.7M$11.6M$12.0M$12.8M$12.8M$10.6M$10.0M$8.9M$7.9M
Stock-based compensation $5.9M$5.3M$4.4M$4.8M$4.1M$3.2M$3.5M$4.8M$6.6M$6.9M
Capital expenditure $3.9M$16.6M$2.4M$3.8M$2.6M$17.1M$16.7M$15.4M$9.8M$13.0M
Investing cash flow -$3.9M-$18.1M-$2.9M-$18.2M-$2.6M-$17.1M-$16.7M-$15.4M-$25.7M-$11.9M
Financing cash flow -$29.8M-$48.9M-$44.5M-$39.0M-$52.0M-$19.5M-$23.8M-$35.7M-$21.9M-$19.2M
Dividends paid $13.8M$12.3M$10.8M$9.6M$8.3M$7.5M$6.8M$5.8M$4.9M$1.2M
Buybacks $47.1M$33.3M$31.4M$27.6M$45.0M$13.4M$18.1M$27.9M$19.5M$19.3M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-048570.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 200M 400M 600M 800M Revenue, FY2016: 324.8M Gross profit, FY2016: 97.4M Net income, FY2016: 12.9M Revenue, FY2017: 370.1M Gross profit, FY2017: 111.2M Net income, FY2017: 7.6M Revenue, FY2018: 417.6M Net income, FY2018: 22.5M Revenue, FY2019: 451.4M Net income, FY2019: 20.7M Revenue, FY2020: 508.4M Net income, FY2020: 24.5M Revenue, FY2021: 565.9M Net income, FY2021: 41.7M Revenue, FY2022: 590.9M Net income, FY2022: 43.6M Revenue, FY2023: 624M Net income, FY2023: 38.5M Revenue, FY2024: 687.4M Net income, FY2024: 46.7M Revenue, FY2025: 751.6M Net income, FY2025: 54.8M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $324.8M $370.1M $417.6M $451.4M $508.4M $565.9M $590.9M $624.0M $687.4M $751.6M
Gross profit $97.4M $111.2M — — — — — — — —
Net income $12.9M $7.6M $22.5M $20.7M $24.5M $41.7M $43.6M $38.5M $46.7M $54.8M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Regulation FD disclosure Item 7.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.