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CRA International, Inc. (CRAI) stock

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NASDAQ: CRAI Nasdaq Research & Consulting Services Next results ~November 5, 2026

B Fundamentals grade

CRA International, Inc. is a US-listed company in the research & consulting services industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: our cash-flow value ($39.15) was left out of our combined valuation (it is more than 3x away from the median of our other models), so it can't be the basis of a rating.

Price vs value

Under review: our cash-flow value ($39.15) was left out of our combined valuation (it is more than 3x away from the median of our other models), so it can't be the basis of a rating. We'll show the comparison once resolved.

CRA International, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 4 selling0 purchases and 38 sales by directors and officers, last 12 monthsInsider trades
  • Funds125 adding, 85 cuttingOf 50 active managers that changed their stake, 23 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter CRA International files

Where CRA International stands after its latest 10-Q

Revenue for the twelve months to July 2026 was $795m, up 11.5% on a year earlier, faster than the 10.5% growth a quarter earlier. Free-cash-flow margin fell to -3.5% from 3.0% a year earlier. The diluted share count is down 4.0% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 1 of our 2 financial-health checks.

Our model value for CRA International is under review, so past values are not shown until it is resolved.

Source: 10-Q filed August 6, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

CRA International, Inc.'s trailing-twelve-month revenue grew 11.5% year on year, with a free-cash-flow margin of -3.5%. Where it stands out: stock pay as % of revenue of 0.9% ranks 3 of 30 research & consulting services companies we cover. Where it lags: free-cash-flow margin of -3.5% ranks 27 of 33 research & consulting services companies we cover.

Our discounted-cash-flow model values the business at ~$39 per share in the base case (~$22–$62 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Revenue growth accelerating: TTM revenue growth rose to 11.5% (+1.0pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Shrinking share count. Diluted shares fell 4.0% in a year, so each share owns more of the business.

Things to watch

  • Burning cash. Free cash flow was -3.5% of revenue over the last 12 months.
  • Weak cash conversion. Free cash flow was -56% of net income over the last 12 months.
  • Missing expectations. Earnings per share fell short of the consensus estimate in 2 of the last four quarters.

Latest results: FY2026 Q2

Filed August 6, 2026
Earnings per share
$2.16 against an average estimate of $2.15: beat by 0.6%
Revenue
$211m, up 12.8% on a year earlier
Share reaction
-4.1% in the first session after the results on August 6, 2026, against +0.5% for the S&P 500
Guidance given
revenue $805m to $820m (full-year fiscal 2026); non-GAAP EBITDA margin 12% to 13% (full-year fiscal 2026)
Next report
November 5, 2026; average EPS estimate $2.07

CRA International's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+0.6%
  • 1 week-2.2%
  • 1 month+15.7%
  • This year-0.7%
  • 1 year+4.9%
  • 5 years+81.2%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$795M
Operating margin
10.0%
Net margin
6.2%
EPS (TTM, diluted)
$7.52

Growth

Revenue growth
+11.5%
Change in growth rate
+1.0 pts
Share count change
−4.0%

Cash

Free cash flow (TTM)
-$27.7M
FCF margin
-3.5%
Stock pay % of revenue
0.9%

Earnings

Last results
August 6, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Insider trade
  2. Results
  3. Guidance
  4. Shareholder vote

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

CRA International, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: held for review: our cash-flow value ($39.15) was left out of our combined valuation (it is more than 3x away from the median of our other models), so it can't be the basis of a rating.

Our value per share comes from a discounted-cash-flow model of CRA International, Inc.'s free cash flow after stock-based pay ( $17.6M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value CRA International, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 8.9%: the 10-year Treasury yield (4.9%) plus a beta of 0.89 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$39 ~$22–$62 Left out: out of range vs price (0.20x)
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$110 ~$130–$190 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$120 ~$85–$170 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$100 ~$85–$120 Included
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare CRA International, Inc. with Research & Consulting Services in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 2016201720182019202020212022202320242025Now
Share price$31.74$39.60$36.54$48.74$47.34$87.90$116.85$95.74$182.88$198.45$197.17
Market value$273m$336m$313m$398m$376m$670m$859m$682m$1.3bn$1.3bn$1.3bn
+ Net debt (− = net cash)−$54m−$54m−$38m−$26m−$46m−$66m−$31m−$46m−$27m$16m$198m
Enterprise value$219m$282m$275m$372m$331m$604m$828m$636m$1.2bn$1.3bn$1.5bn
Multiples
Price / sales 0.8x0.9x0.7x0.9x0.7x1.2x1.5x1.1x1.8x1.8x1.6x
Price / earnings 21.2x44.1x13.9x19.2x15.4x16.1x19.7x17.7x27.1x24.3x26.2x
Price / free cash flow 7.8x9.3x15.1x35.7x10.0x9.2x40.3x11.8x38.2x71.8x—
EV / EBITDA 8.2x11.5x7.1x9.3x6.9x8.8x11.7x9.2x15.0x13.9x16.0x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

50 /100

Moderate moat

How hard CRA International's competitive advantage looks for rivals to wear away, judged from 9 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 11 / 20

    Cash operating profit has been a median 9.3% of total assets over 6 years.

  • Durability 10 / 20

    Operating margin has been a median 9.0%; its worst year was 5.3%.

  • Cash conversion 10 / 20

    Free cash flow was positive in 8 of 9 years, at a median 3.0% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 15.9% over five years; stock-based pay has been a median 0.7% of revenue.

AI disruption exposure: High. In this industry, the core product is information work that AI systems increasingly perform. The score above includes a 15-point deduction for that exposure (64 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, before the open. Analysts expect revenue of $199m and EPS of $2.07 (range $1.99 to $2.22) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $8.47 +3% $814m +8%
Next $9.56 +13% $847m +4%

Next year's EPS estimate has moved −0.7% in 90 days, across 3 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −1.5% on 90 days ago. In the last 30 days, 1 analyst raised CRA International, Inc.'s forecast and 2 cut it.

Consensus EPS forecast CRA International, Inc., last 90 days
$8.00 $8.50 $9.00 $9.50 $10.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $8.60 Current fiscal year, 60 days ago: $8.47 Current fiscal year, 30 days ago: $8.47 Current fiscal year, 7 days ago: $8.47 Current fiscal year, Now: $8.47 $8.47 Next fiscal year, 90 days ago: $9.63 Next fiscal year, 60 days ago: $9.56 Next fiscal year, 30 days ago: $9.56 Next fiscal year, 7 days ago: $9.56 Next fiscal year, Now: $9.56 $9.56

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $8.60$9.63
60 days ago $8.47$9.56
30 days ago $8.47$9.56
7 days ago $8.47$9.56
Now $8.47$9.56

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $2.15 $2.16 +0.6%
Mar 2026 $2.02 $1.99 −1.7%
Dec 2025 $2.07 $2.06 −0.3%
Sept 2025 $1.80 $2.06 +14.4%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 6, 2026
  • revenue full-year fiscal 2026 $805m to $820m Raised
    “For full-year fiscal 2026, on a constant currency basis relative to fiscal 2025, we expect revenue in the range of $805 million to $820 million and non-GAAP EBITDA margin in the range of 12.0% to 13.0%.” source
  • non-GAAP EBITDA margin full-year fiscal 2026 12% to 13% Non-GAAP Maintained
    “For full-year fiscal 2026, on a constant currency basis relative to fiscal 2025, we expect revenue in the range of $805 million to $820 million and non-GAAP EBITDA margin in the range of 12.0% to 13.0%.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows CRA International, Inc.'s revenue by +6.3% next year and +8.9% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+4.6%, weight 46%) , management guidance (+4.3%, weight 23%) and the company's own record (+10.4%, weight 31%) . How the weights are set.

Analyst recommendations

2 analysts, Oct 2026
Buy150%
Hold150%
Sell00%

Monthly trend

  1. Oct 2026112
  2. Sep 2026112
  3. Aug 2026112
  4. Jul 2026112

Counts of recommendations published by analysts covering CRA International, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
5.4%
of tradable shares
Days to cover
2.55
at average volume
Short interest, 1 month
+10%
to October 15, 2026
Held by institutions
95%
of shares
Held by insiders
3.7%
of shares
Employees
968
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +4.9%

$187.90 on October 31, 2025 to $197.17

ThenNowEffect
Revenue (last 12 months) $713m $795m +11.5%
Net margin 7.9% 6.2% −21.8%
P/E multiple 22.7x 26.2x +15.6%
Share count 7m 7m +4.2%

Biggest factor: net margin.

Last 3 years +138.4%

$82.70 on November 3, 2023 to $197.17

ThenNowEffect
Revenue (last 12 months) $608m $795m +30.6%
Net margin 6.4% 6.2% −3.2%
P/E multiple 15.3x 26.2x +71.3%
Share count 7m 7m +10.0%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
CRAI+86%+33%−18%+91%+8%−1%
Industry peers (median)+34%−22%+13%−4%−15%−2%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
CRAI92%50%33%67%42%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
CRAI−23%−19%−33%−18%−24%−38%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 61% from January 22, 2020 to March 18, 2020. Getting back needed a 155% gain, reached on January 12, 2021, 300 days after the low.

Price behaviour

52-week range
$136.77 – $221.02
From 52-week high
−10.8%
vs 50-day average
+12.8%
vs 200-day average
+19.4%
Volatility (1 year)
39%
Beta vs S&P 500
0.06

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 6 down
typical move ±6.6%
After a week
8 up, 4 down
typical move ±8.5%
After a month
7 up, 5 down
typical move ±8.5%
Results releasedNext dayS&P 500 next day5 days21 days
August 6, 2026 −4.1% +0.5% −3.3% −2.9%
May 7, 2026 −8.6% +0.5% −9.0% −4.5%
February 26, 2026 +7.7% −1.0% +15.7% −4.1%
October 30, 2025 +6.9% −0.8% +2.8% +0.5%
July 31, 2025 −1.7% −2.0% +8.1% +12.2%
May 1, 2025 +2.7% +2.2% +14.3% +17.8%
February 20, 2025 +6.1% −2.1% +0.4% −6.9%
October 31, 2024 −4.2% −1.5% +2.7% +0.4%
August 1, 2024 −12.3% −3.3% −10.2% −3.3%
May 2, 2024 +2.9% +2.2% +9.7% +20.6%
February 29, 2024 +10.6% +1.3% +18.0% +27.2%
November 2, 2023 −11.8% +2.8% −7.5% +1.1%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

CRA International, Inc. in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) CRA International, Inc.
$600M $650M $700M $750M $800M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $607.3M Revenue (TTM), FY23 Q4: $624M Revenue (TTM), FY24 Q1: $642.9M Revenue (TTM), FY24 Q2: $652.4M Revenue (TTM), FY24 Q3: $672.6M Revenue (TTM), FY24 Q4: $687.4M Revenue (TTM), FY25 Q1: $697.5M Revenue (TTM), FY25 Q2: $712.9M Revenue (TTM), FY25 Q3: $731.1M Revenue (TTM), FY25 Q4: $751.6M Revenue (TTM), FY26 Q1: $770.7M Revenue (TTM), FY26 Q2: $794.6M $794.6M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $607.3M
FY23 Q4 $624M
FY24 Q1 $642.9M
FY24 Q2 $652.4M
FY24 Q3 $672.6M
FY24 Q4 $687.4M
FY25 Q1 $697.5M
FY25 Q2 $712.9M
FY25 Q3 $731.1M
FY25 Q4 $751.6M
FY26 Q1 $770.7M
FY26 Q2 $794.6M
Revenue growth, TTM YoY CRA International, Inc.
4% 6% 8% 10% 12% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 4.6% Revenue growth, TTM YoY, FY23 Q4: 5.6% Revenue growth, TTM YoY, FY24 Q1: 8.0% Revenue growth, TTM YoY, FY24 Q2: 7.3% Revenue growth, TTM YoY, FY24 Q3: 10.7% Revenue growth, TTM YoY, FY24 Q4: 10.2% Revenue growth, TTM YoY, FY25 Q1: 8.5% Revenue growth, TTM YoY, FY25 Q2: 9.3% Revenue growth, TTM YoY, FY25 Q3: 8.7% Revenue growth, TTM YoY, FY25 Q4: 9.3% Revenue growth, TTM YoY, FY26 Q1: 10.5% Revenue growth, TTM YoY, FY26 Q2: 11.5% 11.5%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 4.6%
FY23 Q4 5.6%
FY24 Q1 8.0%
FY24 Q2 7.3%
FY24 Q3 10.7%
FY24 Q4 10.2%
FY25 Q1 8.5%
FY25 Q2 9.3%
FY25 Q3 8.7%
FY25 Q4 9.3%
FY26 Q1 10.5%
FY26 Q2 11.5%
Operating margin (TTM) CRA International, Inc.
8% 9% 10% 11% 12% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 8.8% Operating margin (TTM), FY23 Q4: 9.2% Operating margin (TTM), FY24 Q1: 9.9% Operating margin (TTM), FY24 Q2: 9.0% Operating margin (TTM), FY24 Q3: 9.9% Operating margin (TTM), FY24 Q4: 10.3% Operating margin (TTM), FY25 Q1: 11.0% Operating margin (TTM), FY25 Q2: 11.9% Operating margin (TTM), FY25 Q3: 11.5% Operating margin (TTM), FY25 Q4: 11.1% Operating margin (TTM), FY26 Q1: 9.8% Operating margin (TTM), FY26 Q2: 10.0% 10.0%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 8.8%
FY23 Q4 9.2%
FY24 Q1 9.9%
FY24 Q2 9.0%
FY24 Q3 9.9%
FY24 Q4 10.3%
FY25 Q1 11.0%
FY25 Q2 11.9%
FY25 Q3 11.5%
FY25 Q4 11.1%
FY26 Q1 9.8%
FY26 Q2 10.0%
FCF margin (TTM) CRA International, Inc.
-5% 0% 5% 10% 15% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 9.4% FCF margin (TTM), FY23 Q4: 9.2% FCF margin (TTM), FY24 Q1: 10.0% FCF margin (TTM), FY24 Q2: 9.1% FCF margin (TTM), FY24 Q3: 3.6% FCF margin (TTM), FY24 Q4: 4.8% FCF margin (TTM), FY25 Q1: 2.3% FCF margin (TTM), FY25 Q2: 3.0% FCF margin (TTM), FY25 Q3: 3.9% FCF margin (TTM), FY25 Q4: 2.5% FCF margin (TTM), FY26 Q1: -2.2% FCF margin (TTM), FY26 Q2: -3.5% -3.5%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 9.4%
FY23 Q4 9.2%
FY24 Q1 10.0%
FY24 Q2 9.1%
FY24 Q3 3.6%
FY24 Q4 4.8%
FY25 Q1 2.3%
FY25 Q2 3.0%
FY25 Q3 3.9%
FY25 Q4 2.5%
FY26 Q1 -2.2%
FY26 Q2 -3.5%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar CRA International took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $752M
  2. Selling, general and admin $135M · 18.0%
  3. Other operating costs $533M · 71.0%
  4. Operating income $83.1M · 11.1%
  5. Income tax $21.8M · 2.9%
  6. Interest and other $6.6M · 0.9%
  7. Net income $54.8M · 7.3%

Shares of revenue. Source: CRA International's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Jan 2021 2021 Jan 2022 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Jan 2026 LTM Jul 2026
Income
Revenue 325 370 418 451 508 566 591 624 687 752 795
Gross profit 97 — — — — — — — — — —
EBITDA 27 25 39 40 48 69 71 69 82 97 93
Operating income 19 16 29 29 35 56 59 58 71 83 79
Net income 13 8 22 21 25 42 44 38 47 55 49
Diluted EPS — — — — $3.07 $5.45 $5.91 $5.39 $6.74 $8.14 $7.52
Growth (year on year)
Revenue — +13.9% +12.9% +8.1% +12.6% +11.3% +4.4% +5.6% +10.2% +9.3% +11.5%
EBITDA — −8.1% +58.1% +2.7% +19.1% +43.8% +3.2% −2.3% +19.3% +18.0% −4.9%
Operating income — −16.7% +83.6% +1.4% +18.6% +60.2% +5.4% −2.0% +22.9% +17.5% −6.7%
Net income — −40.8% +195.0% −7.8% +18.1% +70.1% +4.7% −11.8% +21.2% +17.4% −12.8%
Diluted EPS — — — — — +77.5% +8.4% −8.8% +25.0% +20.8% −9.2%
Margins
Gross margin 30.0% — — — — — — — — — —
EBITDA margin 8.2% 6.7% 9.3% 8.9% 9.4% 12.1% 12.0% 11.1% 12.0% 12.9% 11.7%
Operating margin 5.8% 4.3% 6.9% 6.5% 6.8% 9.8% 9.9% 9.2% 10.3% 11.1% 10.0%
Net margin 4.0% 2.1% 5.4% 4.6% 4.8% 7.4% 7.4% 6.2% 6.8% 7.3% 6.2%
Free-cash-flow margin 10.8% 9.8% 5.0% 2.5% 7.4% 12.9% 3.6% 9.2% 4.8% 2.5% −3.5%
Cash flow
Cash from operations 48 46 36 28 55 76 25 60 50 22 −22
Capital spending 13 10 15 17 17 3 4 2 17 4 6
Free cash flow 35 36 21 11 38 73 21 58 33 19 −28
Stock-based pay 7 7 5 3 3 4 5 4 5 6 7
Free cash flow after stock pay 28 29 16 8 34 69 17 53 28 13 −35
Balance sheet
Cash 54 54 38 26 46 66 31 46 27 18 21
Total debt 0 0 0 0 0 0 0 0 0 34 219
Net debt (negative = net cash) −54 −54 −38 −26 −46 −66 −31 −46 −27 16 198
Diluted shares 9m 8m 9m 8m 8m 8m 7m 7m 7m 7m 7m
Returned to shareholders
Dividends 1 5 6 7 8 8 10 11 12 14 14
Buybacks 19 20 28 18 13 45 28 31 33 47 53
Total returned 20 24 34 25 21 53 37 42 46 61 68

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

1 of 2 checks passed · July 4, 2026
What it owns · $678m
Short-term assets $339mLonger-term assets $340m
What it owes, and who funded it · $597m
Short-term liabilities $415mShareholders' equity $182m
  • Short-term assets cover short-term liabilities $339m of assets due within a year against $415m of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Operating income of $79m against $7m of interest.

From CRA International, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$53.3M
Dividends (TTM)
$14.4M
Returned to shareholders
-244%
of free cash flow
Buybacks, last 3 fiscal years
$112M
Diluted share count
−4.0%
year over year
Total shareholder yield
5.5%
dividends 1.2% + buybacks 4.3% of market value
Dividend payout ratio
29%
of net income paid out
Sales & admin spending
17.3%
of revenue
Days sales outstanding
77 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in research & consulting services
Last 12 months unless stated CRAI ONT MG WLDN RMR EXPO Median
Revenue, last 12 months $795m $773m $748m $742m $639m $632m $632m
Revenue growth, last 12 months 11.5% −0.9% 4.6% 18.1% −15.2% 12.8% 4.8%
Revenue growth, 3-year average 9.3% 11.3% 2.7% 17.6% −13.3% 5.7% 6.8%
Revenue growth, latest quarter 12.8% −20.4% 4.6% 33.2% −0.8% 20.9% 4.4%
Gross margin — 40.4% 28.7% 37.8% — — 43.9%
Operating margin 10.0% 1.0% 6.1% 7.1% 6.4% 20.2% 6.1%
Operating margin, 3-year average 10.3% −1.8% 5.2% 6.0% 5.8% 20.9% 6.0%
Net margin 6.2% −1.4% 2.8% 8.8% 3.1% 17.7% 3.1%
Cash from operations / revenue −2.7% 9.6% 8.2% 9.6% 15.4% 18.7% 9.6%
Free-cash-flow margin −3.5% 6.7% 4.5% 8.4% 14.5% 17.2% 7.4%
Free-cash-flow margin, 3-year average 2.9% 4.1% 2.6% 8.6% 9.2% 21.8% 8.6%
Stock pay / revenue 0.9% 4.8% 1.0% 2.0% 2.6% 3.0% 2.5%
Change in share count −4.0% 18.8% 4.3% 4.9% −11.7% −2.7% 0.5%

Median of all 33 companies we cover in research & consulting services. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

33 research & consulting services companies
Measure Company Peer median Rank
Revenue growth Growth 11.5% 4.8% 10 of 33
Change in growth rate Growth +1.0pp +0.6pp 12 of 33
Operating margin Profitability 10.0% 6.1% 9 of 31
Net margin Profitability 6.2% 3.1% 12 of 33
Free-cash-flow margin Cash generation -3.5% 7.4% 27 of 33
Stock pay as % of revenue Cash generation 0.9% 2.6% 3 of 30
Change in share count Balance sheet -4.0% 0.6% 5 of 30
Days sales outstanding Balance sheet 77 days 63 days 21 of 29

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to January 3, 2026
Geography
Region Revenue Share YoY
United States $602M 80.1% ▲ 7.8%
United Kingdom $101M 13.5% ▲ 17.0%
Countries Other Than United States United Kingdom $48.2M 6.4% ▲ 14.5%

From CRA International, Inc.'s 10-K filed February 26, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$847M
Institutions reporting
211
Shares held vs prior quarter
▲ 0.1%
Positions opened / closed
34 / 33

Top buyers and sellers, Q2 2026: 125 institutions bought and 85 sold ; the biggest buyer was Point72 Asset Management, L.P (+116K shares) and the biggest seller Neuberger Berman Group LLC (−377K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $91.5M 643K 10.8% ▲ 8.3%
FMR LLC $66.9M 470K 7.9% ▼ 17.5%
Vanguard Capital Management LLC $39.5M 277K 4.7% ▲ 0.1%
Two Sigma Investments, LP $37.2M 262K 4.4% ▼ 7.2%
Needham Investment Management LLC $30.7M 216K 3.6% ▲ 53.9%
Dimensional Fund Advisors LP $27.8M 195K 3.3% ▲ 1.3%
Renaissance Technologies LLC $25.9M 182K 3.1% ▼ 19.0%
Point72 Asset Management, L.P. $25.6M 180K 3.0% ▲ 181.8%
Geode Capital Management, LLC $23.7M 167K 2.8% ▲ 4.5%
Jane Street Group, LLC $21.8M 153K 2.6% ▲ 5.9%
State Street Corp $21M 147K 2.5% ▲ 4.2%
Jupiter Topco LLC $20M 140K 2.4% —

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not CRA International, Inc.'s complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $6.5M 38 trades by 4 insiders · 97% under pre-set plans
Net ▼ $6.5M net selling
Insider Date Trade Shares Price Value
Maleh Paul A PRESIDENT AND CEO August 31, 2026 Sell pre-set plan 4,852 $173.04 $839,590
Maleh Paul A PRESIDENT AND CEO August 31, 2026 Sell pre-set plan 32 $174.78 $5,593
Maleh Paul A PRESIDENT AND CEO August 31, 2026 Sell pre-set plan 268 $174.13 $46,667
Maleh Paul A PRESIDENT AND CEO August 31, 2026 Sell pre-set plan 2,348 $172.06 $403,997
Yellin Jonathan D EVP AND GENERAL COUNSEL August 25, 2026 Sell pre-set plan 400 $174.26 $69,704
Yellin Jonathan D EVP AND GENERAL COUNSEL August 25, 2026 Sell pre-set plan 1,307 $173.34 $226,555
Yellin Jonathan D EVP AND GENERAL COUNSEL August 25, 2026 Sell pre-set plan 543 $172.30 $93,559
Tookes Heather Director July 23, 2026 Sell pre-set plan 88 $165.90 $14,599
Tookes Heather Director July 16, 2026 Sell pre-set plan 124 $173.31 $21,490
Maleh Paul A PRESIDENT AND CEO June 3, 2026 Sell pre-set plan 319 $136.86 $43,658
Maleh Paul A PRESIDENT AND CEO June 3, 2026 Sell pre-set plan 1,100 $142.17 $156,387
Maleh Paul A PRESIDENT AND CEO June 3, 2026 Sell pre-set plan 500 $134.48 $67,240

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around October 29, 2026 estimated from the company's past filing pattern, not announced

  • August 6, 2026
  • May 7, 2026
  • February 26, 2026
  • October 30, 2025
  • July 31, 2025
  • May 1, 2025

Recent SEC filings

Data status

When each part of this page on CRA International, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

CRA International, Inc. in brief

What does CRA International, Inc. do?
CRA International, Inc. is a US-listed company in the research & consulting services industry. Its financial year ends in December.
What is CRA International, Inc.'s stock ticker?
CRA International, Inc. trades under the ticker CRAI on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is CRA International, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, CRA International, Inc. reported revenue of $795M, 11.5% higher than a year earlier, according to its SEC filings.
What is CRA International, Inc.'s free cash flow?
CRA International, Inc.'s free-cash-flow margin is -3.5% of revenue over the trailing twelve months, ranking 27 of the 33 research & consulting services companies we cover.
Who are CRA International, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., FMR LLC and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is CRA International, Inc. buying back stock, and does it pay a dividend?
CRA International, Inc. spent $53.3M on share repurchases over the trailing twelve months, and its diluted share count fell 4.0% over the year.
What is CRA International, Inc.'s market cap?
On November 2, 2026, CRA International, Inc.'s market capitalisation was about $1.3B, with a price-to-earnings ratio of 26.2 and net debt of $198M. Market figures come from third-party market data and may be delayed.
Does CRA International, Inc. pay a dividend?
Yes: CRA International, Inc. paid $14.4M in dividends over the trailing twelve months, a dividend yield of 1.17% and a payout ratio of 29.2%.
Who are CRA International, Inc.'s competitors?
In our Research & Consulting Services peer group, the companies closest to CRA International, Inc. are Onterris, Inc., Mistras Group, Inc., Willdan Group, Inc., RMR Group Inc. and Exponent Inc. The side-by-side comparison below sets their revenue, margins and growth against CRA International, Inc.'s.
Are insiders buying or selling CRA International, Inc. stock?
Over the last 12 months, CRA International, Inc.'s directors and officers reported 0 open-market purchases and 38 sales on Form 4. The insider trading page charts every trade.
When is CRA International, Inc.'s next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — CRA International, Inc. announces its own schedule.