CRAI Industrials

CRA International, Inc.

$195.26-0.97%

Price as of close on Nov 3, 2026 · Financials updated Oct 8, 2026

Basics

Sector: Industrials
Industry: Consulting Services
Country: United States
Market cap: 1.2B USD
Enterprise value: 1.5B USD
Full-time employees: 968

Overall health

Strength: more profitable than most peersmore profitable than peers
Strength: growing faster than most peersgrowing faster than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: higher risk than most peers: less short-term liquidity (current ratio 0.82 vs a peer median of 1.62) and more debt relative to equity (1.67× vs a peer median of 0.40×)higher risk: less liquidity (current ratio 0.82 vs peers 1.62) and more debt vs equity (1.67× vs peers 0.40×)

Ranks #1,152 of 2,308 industrials companies (top 50%)

See how it ranks against its peers

Worth knowing

Profitable, but burning cash. Reports a profit, but free cash flow is negative.
CRA International reports a profit but its free cash flow is negative: it spent more on investment and running the business than it brought in. That's common for companies building capacity, but it means the profit isn't yet turning into cash.
Profit growing, cash flow isn't. Profit +26% since 2022, operating cash flow −11%.
CRA International's reported profit rose 26% since 2022, but the cash its operations generate changed −11%. When profit and cash diverge like this, it's worth understanding why (for example, customers paying more slowly or gains that aren't cash).CRA International's reported profit rose 26% since 2022, but the cash its operations generate changed −11%. When profit and cash diverge like this, it's worth understanding why.
Returning more cash than it generates. Paid out $149M vs $109M of free cash flow over the 3 fiscal years to 2025.
CRA International returned $149M to shareholders over three years, 136% of the free cash flow it produced. That gap has to be covered by cash reserves or new debt, which can't last indefinitely.
Valuation signals disagree. Cheaper than 53% of peers on earnings, but only 0% on free cash flow.
Relative to its earnings, CRA International looks cheaper than 53% of peers; relative to its free cash flow, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.

StockQuotient Score

51/ 100

Oct 5 52 → Nov 4 51 (-1)

Valuation

Is the price right?

40/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

Share count down 2.9%

Valuation also moves with the share price every day.

Why

Held back by:

▼ FCF yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield4.0%

SEC filings · 12 months to Jul 2026Reported value30% base weight · Z-score 0.09Sector median: 0.0377 · MAD: 0.0294

EBITDA yield6.2%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 monthsReported value50% base weight · Z-score -0.18Sector median: 0.0695 · MAD: 0.0425

Free cash flow yield-2.3%

SEC filings · 12 months to Jul 2026 · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share price20% base weight · Z-score -1.00Sector median: 0.0370 · MAD: 0.0370

Other data (not scored)

Book yield14.8%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.5027 · MAD: 0.2823

Growth

Is it growing?

60/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 3.1%

Why

Stronger than most peers on:

▲ Revenue growth
▲ 3-yr revenue

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth-8.6%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score -0.63Sector median: 0.0709 · MAD: 0.2481

3-year revenue growth9.3%

SEC filings · 3 years to Jul 2026Reported value33% base weight · Z-score 0.82Sector median: 0.0421 · MAD: 0.0625

Revenue growth11.5%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score 0.92Sector median: 0.0439 · MAD: 0.0766

Profitability

Does it earn well?

91/100

Strong

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ ROIC
▲ ROA
▲ Operating margin

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin10.0%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score 0.45Sector median: 0.0773 · MAD: 0.0507

Return on assets7.3%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score 1.73Sector median: 0.0311 · MAD: 0.0241

Return on invested capital39.1%

SEC filings · 12 months to Jul 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score 4.82Sector median: 0.0715 · MAD: 0.0558

Other data (not scored)

Gross margin29.0%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsReported valueInformational · 0% composite weightSector median: 0.2573 · MAD: 0.1038

Return on equity27.1%

SEC filings · 12 months to Jul 2026Reported valueInformational · 0% composite weightSector median: 0.0802 · MAD: 0.0639

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Current ratio
▼ Debt / equity

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta0.69

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -0.18Sector median: 0.6440 · MAD: 0.2745

Current ratio0.82×

SEC filings · latest balance sheetReported value33% base weight · Z-score -1.50Sector median: 1.6180 · MAD: 0.5360

Debt / equity1.67×

Yahoo Finance fallback · no standard SEC debt tagReported value33% base weight · Z-score -3.75Sector median: 0.4019 · MAD: 0.3378

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about CRA International

Is CRA International getting weaker?: Its latest SEC filing (Aug 6, 2026) got stronger: share count down 2.9%. Its overall score is unchanged at 51/100 since Oct 28, 2026.
How is CRA International valued vs its peers?: Priced about in line with its peers. Valuation scores 40/100 against 2,459 industrials peers. Free cash flow yield -2.3% vs a peer median of 3.7% (weaker than 100% of peers).Free cash flow yield -2.3% vs peers 3.7% (weaker than 100% of peers).
Is CRA International growing?: Yes, faster than most of its peers. Growth scores 60/100 against 2,459 industrials peers. Revenue growth 11.5% vs a peer median of 4.4% (stronger than 74% of peers).Revenue growth 11.5% vs peers 4.4% (stronger than 74% of peers). Earnings per share growth -8.6% vs a peer median of 7.1% (weaker than 68% of peers).Earnings per share growth -8.6% vs peers 7.1% (weaker than 68% of peers).
How profitable is CRA International?: More profitable than most of its peers. Profitability scores 91/100 against 2,459 industrials peers. Return on invested capital 39.1% vs a peer median of 7.1% (stronger than 95% of peers).Return on invested capital 39.1% vs peers 7.1% (stronger than 95% of peers).
How risky is CRA International?: Higher risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Current ratio 0.82× vs a peer median of 1.62× (weaker than 92% of peers).Current ratio 0.82× vs peers 1.62× (weaker than 92% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jul 4, 2026 · filed Aug 6, 2026 · compared with the quarter ended Apr 4, 2026

Got stronger

Share count down 2.9%

	Previous quarter	Latest quarter	Change
Revenue (12 months)	770.7M USD	794.6M USD	+3.1%
Net income (12 months)	47.9M USD	49.3M USD	+2.9%
Operating margin	9.8%	10.0%	+0.2 pts
Free cash flow (12 months)	−17.0M USD	−27.7M USD	+63.1%
Cash	32.5M USD	21.4M USD	−34.0%
Shares outstanding	6.5M	6.3M	−2.9%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Sector: Industrials · 318 companies

Valuations in Industrials are near the top of their range since 2016.

85% of months since 2016 were valued lower than now.
41% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +20% and earnings +14% (medians): prices and earnings moved broadly together.
Median price-to-sales is −24% vs the whole market, against a usual −31%.

2016Shaded: most expensive fifth of its range2026

Shown for Industrials: too few Consulting Services companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Operating margin	9.8%	9.9%	9.2%	10.3%	11.1%	▲ 0.8 pts
Net margin	7.4%	7.4%	6.2%	6.8%	7.3%	▲ 0.5 pts
Return on assets (ROA)	7.5%	7.9%	7.0%	8.2%	8.7%	▲ 0.5 pts
Return on equity (ROE)	20.2%	20.7%	18.1%	22.0%	25.6%	▲ 3.6 pts
Free cash flow margin	12.9%	3.6%	9.2%	4.8%	2.5%	▼ 2.3 pts
Current ratio	1.17×	1.15×	1.12×	1.07×	0.92×	▼ 14%
Interest coverage	57.46×	32.17×	15.10×	16.02×	15.51×	▼ 3.1%

CRAI price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Strength: more profitable than most peersmore profitable than peers

Strength: growing faster than most peersgrowing faster than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: higher risk than most peers: less short-term liquidity (current ratio 0.82 vs a peer median of 1.62) and more debt relative to equity (1.67× vs a peer median of 0.40×)higher risk: less liquidity (current ratio 0.82 vs peers 1.62) and more debt vs equity (1.67× vs peers 0.40×)

Ranks #1,152 of 2,308 industrials companies (top 50%)

See how it ranks against its peers

Worth knowing

Profitable, but burning cash. Reports a profit, but free cash flow is negative.

CRA International reports a profit but its free cash flow is negative: it spent more on investment and running the business than it brought in. That's common for companies building capacity, but it means the profit isn't yet turning into cash.

Profit growing, cash flow isn't. Profit +26% since 2022, operating cash flow −11%.

CRA International's reported profit rose 26% since 2022, but the cash its operations generate changed −11%. When profit and cash diverge like this, it's worth understanding why (for example, customers paying more slowly or gains that aren't cash).CRA International's reported profit rose 26% since 2022, but the cash its operations generate changed −11%. When profit and cash diverge like this, it's worth understanding why.

Returning more cash than it generates. Paid out $149M vs $109M of free cash flow over the 3 fiscal years to 2025.

CRA International returned $149M to shareholders over three years, 136% of the free cash flow it produced. That gap has to be covered by cash reserves or new debt, which can't last indefinitely.

Valuation signals disagree. Cheaper than 53% of peers on earnings, but only 0% on free cash flow.

Relative to its earnings, CRA International looks cheaper than 53% of peers; relative to its free cash flow, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.

Questions investors ask about CRA International

Is CRA International getting weaker?

Its latest SEC filing (Aug 6, 2026) got stronger: share count down 2.9%. Its overall score is unchanged at 51/100 since Oct 28, 2026.

How is CRA International valued vs its peers?

Priced about in line with its peers. Valuation scores 40/100 against 2,459 industrials peers. Free cash flow yield -2.3% vs a peer median of 3.7% (weaker than 100% of peers).Free cash flow yield -2.3% vs peers 3.7% (weaker than 100% of peers).

Is CRA International growing?

Yes, faster than most of its peers. Growth scores 60/100 against 2,459 industrials peers. Revenue growth 11.5% vs a peer median of 4.4% (stronger than 74% of peers).Revenue growth 11.5% vs peers 4.4% (stronger than 74% of peers). Earnings per share growth -8.6% vs a peer median of 7.1% (weaker than 68% of peers).Earnings per share growth -8.6% vs peers 7.1% (weaker than 68% of peers).

How profitable is CRA International?

More profitable than most of its peers. Profitability scores 91/100 against 2,459 industrials peers. Return on invested capital 39.1% vs a peer median of 7.1% (stronger than 95% of peers).Return on invested capital 39.1% vs peers 7.1% (stronger than 95% of peers).

How risky is CRA International?

Higher risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Current ratio 0.82× vs a peer median of 1.62× (weaker than 92% of peers).Current ratio 0.82× vs peers 1.62× (weaker than 92% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

770.7M USD

794.6M USD

+3.1%

Net income (12 months)

47.9M USD

49.3M USD

+2.9%

Operating margin

9.8%

10.0%

+0.2 pts

Free cash flow (12 months)

−17.0M USD

−27.7M USD

+63.1%

Cash

32.5M USD

21.4M USD

−34.0%

Shares outstanding

6.5M

6.3M

−2.9%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Operating margin

9.8%

9.9%

9.2%

10.3%

11.1%

▲ 0.8 pts

Net margin

7.4%

6.2%

6.8%

7.3%

▲ 0.5 pts

Return on assets (ROA)

7.5%

7.9%

7.0%

8.2%

8.7%

▲ 0.5 pts

Return on equity (ROE)

20.2%

20.7%

18.1%

22.0%

25.6%

▲ 3.6 pts

Free cash flow margin

12.9%

3.6%

9.2%

4.8%

2.5%

▼ 2.3 pts

Current ratio

1.17×

1.15×

1.12×

1.07×

0.92×

▼ 14%

Interest coverage

57.46×

32.17×

15.10×

16.02×

15.51×

▼ 3.1%