CRA International, Inc. (CRAI) 10-Year Financial Performance & Capital Metrics

CRAI • • Industrial / General

IndustrialsConsulting ServicesEconomic & Financial ConsultingLitigation & Regulatory Economists

AboutCRA International, Inc., together with its subsidiaries, provides economic, financial, and management consulting services in the United States, the United Kingdom, and internationally. It advises clients on economic and financial matters pertaining to litigation and regulatory proceedings; and guides corporations through business strategy and performance-related issues. The company also offers consulting services, including research and analysis, expert testimony, and support in litigation and regulatory proceedings in the areas of finance, accounting, economics, insurance, and forensic accounting and investigations to corporate clients and attorneys. In addition, it offers management consulting services comprising strategy development, performance improvement, corporate strategy and portfolio analysis, estimation of market demand, new product pricing strategies, valuation of intellectual property and other assets, assessment of competitors' actions, and analysis of new sources of supply. The company serves various industries, including communications and media; consumer, health, and wellness products; energy; entertainment and leisure; financial services; healthcare; life sciences; manufacturing and industries; natural resources; retail and distribution; technology; and transportation. CRA International, Inc. was incorporated in 1965 and is headquartered in Boston, Massachusetts.Show more

Revenue $687M +10.2%
EBITDA $98M +18.3%
Net Income $47M +21.2%
EPS (Diluted) 6.74 +25.0%
Gross Margin 30.18% +9.7%
EBITDA Margin 14.19% +7.4%
Operating Margin 10.29% +13.4%
Net Margin 6.79% +10.0%
ROE 22% +21.0%
ROIC 18.64% +27.8%
Debt/Equity 0.49 -9.7%
Interest Coverage 16.02 +7.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 20.4%
✓Strong 5Y profit CAGR of 17.6%
✓Strong Piotroski F-Score: 8/9
✓Share count reduced 3.0% through buybacks
✓Trading near 52-week high
✓Efficient asset utilization: 1.2x turnover

✗Weaknesses

No significant weaknesses identified

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y8.42%

5Y8.78%

3Y6.7%

TTM8.69%

Profit (Net Income) CAGR

10Y13.09%

5Y17.59%

3Y3.83%

TTM31.21%

EPS CAGR

10Y17.19%

5Y21.65%

3Y7.34%

TTM34.63%

ROCE

10Y Avg12.53%

5Y Avg16.51%

3Y Avg18.99%

Latest22.2%

Peer Comparison

Litigation & Regulatory Economists

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CRAICRA International, Inc.	1.43B	217.29	32.24	10.17%	7.74%	28.06%	2.32%	0.49

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	303.56M	324.78M	370.07M	417.65M	451.37M	508.37M	565.93M	590.9M	623.98M	687.41M
Revenue Growth %	-0.01%	0.07%	0.14%	0.13%	0.08%	0.13%	0.11%	0.04%	0.06%	0.1%
Cost of Goods Sold+	207.65M	227.38M	258.83M	289.19M	317.76M	370.71M	400.05M	410.08M	452.25M	479.94M
COGS % of Revenue	0.68%	0.7%	0.7%	0.69%	0.7%	0.73%	0.71%	0.69%	0.72%	0.7%
Gross Profit+	95.91M	97.4M	111.25M	128.46M	133.61M	137.66M	165.88M	180.82M	171.73M	207.48M
Gross Margin %	0.32%	0.3%	0.3%	0.31%	0.3%	0.27%	0.29%	0.31%	0.28%	0.3%
Gross Profit Growth %	-0.04%	0.02%	0.14%	0.15%	0.04%	0.03%	0.2%	0.09%	-0.05%	0.21%
Operating Expenses+	78.99M	78.48M	95.48M	99.53M	104.26M	102.87M	110.14M	122.08M	115.12M	136.73M
OpEx % of Revenue	0.26%	0.24%	0.26%	0.24%	0.23%	0.2%	0.19%	0.21%	0.18%	0.2%
Selling, General & Admin	72.44M	70.58M	86.54M	89.53M	93.61M	90.03M	97.37M	110.09M	115.12M	125.05M
SG&A % of Revenue	0.24%	0.22%	0.23%	0.21%	0.21%	0.18%	0.17%	0.19%	0.18%	0.18%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	-647K	-397K	-366K	387K	10.65M	12.84M	12.77M	12M	0	11.68M
Operating Income+	12.39M	18.92M	15.76M	28.93M	29.35M	34.8M	55.74M	58.74M	56.61M	70.75M
Operating Margin %	0.04%	0.06%	0.04%	0.07%	0.07%	0.07%	0.1%	0.1%	0.09%	0.1%
Operating Income Growth %	-0.48%	0.53%	-0.17%	0.84%	0.01%	0.19%	0.6%	0.05%	-0.04%	0.25%
EBITDA+	18.95M	26.82M	24.71M	38.93M	50.66M	59.67M	81.52M	84.49M	82.45M	97.58M
EBITDA Margin %	0.06%	0.08%	0.07%	0.09%	0.11%	0.12%	0.14%	0.14%	0.13%	0.14%
EBITDA Growth %	-0.38%	0.42%	-0.08%	0.58%	0.3%	0.18%	0.37%	0.04%	-0.02%	0.18%
D&A (Non-Cash Add-back)	6.55M	7.9M	8.95M	9.99M	21.31M	24.88M	25.78M	25.75M	25.84M	26.82M
EBIT	12.35M	22.36M	15.65M	29.58M	28.05M	34.84M	55.24M	60.63M	56.1M	70.66M
Net Interest Income+	-538K	-469K	-484K	-647K	-1.25M	-1.22M	-970K	-1.83M	-3.81M	-4.42M
Interest Income	45K	0	0	0	0	0	0	0	0	0
Interest Expense	583K	469K	484K	647K	1.25M	1.22M	970K	1.83M	3.81M	4.42M
Other Income/Expense	-579K	2.97M	-600K	-2K	-2.55M	-1.17M	-1.46M	63K	-4.32M	-4.51M
Pretax Income+	11.81M	21.89M	15.16M	28.93M	26.8M	33.62M	54.27M	58.8M	52.29M	66.24M
Pretax Margin %	0.04%	0.07%	0.04%	0.07%	0.06%	0.07%	0.1%	0.1%	0.08%	0.1%
Income Tax+	5.49M	7.66M	7.46M	6.46M	6.05M	9.12M	12.6M	15.18M	13.81M	19.59M
Effective Tax Rate %	0.65%	0.59%	0.5%	0.78%	0.77%	0.73%	0.77%	0.74%	0.74%	0.7%
Net Income+	7.66M	12.89M	7.62M	22.49M	20.75M	24.51M	41.68M	43.62M	38.48M	46.65M
Net Margin %	0.03%	0.04%	0.02%	0.05%	0.05%	0.05%	0.07%	0.07%	0.06%	0.07%
Net Income Growth %	-0.44%	0.68%	-0.41%	1.95%	-0.08%	0.18%	0.7%	0.05%	-0.12%	0.21%
Net Income (Continuing)	6.33M	14.23M	7.7M	22.47M	20.75M	24.51M	41.68M	43.62M	38.48M	46.65M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	-688K	663K	321K	0	0	0	0	0	0	0
EPS (Diluted)+	0.83	1.49	0.89	2.62	2.53	3.07	5.45	5.91	5.39	6.74
EPS Growth %	-0.4%	0.8%	-0.4%	1.94%	-0.03%	0.21%	0.78%	0.08%	-0.09%	0.25%
EPS (Basic)	0.84	1.50	0.91	2.62	2.63	3.14	5.59	6.02	5.47	6.82
Diluted Shares Outstanding	9.2M	8.6M	8.5M	8.57M	8.17M	7.95M	7.62M	7.36M	7.12M	6.91M
Basic Shares Outstanding	9.01M	8.5M	8.29M	8.57M	7.87M	7.77M	7.42M	7.22M	7.01M	6.82M
Dividend Payout Ratio	-	0.09%	0.65%	0.27%	0.33%	0.31%	0.2%	0.22%	0.28%	0.26%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	140.79M	170.51M	184.28M	181.14M	184.08M	219.97M	249.35M	248.86M	265.48M	269.36M
Cash & Short-Term Investments	38.14M	53.53M	54.03M	38.03M	25.64M	45.68M	66.13M	31.45M	45.59M	26.71M
Cash Only	38.14M	53.53M	54.03M	38.03M	25.64M	45.68M	66.13M	31.45M	45.59M	26.71M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	86.38M	91.79M	113.33M	130.59M	151.16M	167.22M	172.63M	204.65M	208.31M	226.08M
Days Sales Outstanding	103.86	103.16	111.78	114.12	122.24	120.06	111.34	126.41	121.86	120.04
Inventory	0	0	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	0	0	0	0	7.28M	7.07M	10.59M	12.76M	0	0
Total Non-Current Assets+	172.92M	153.13M	177.48M	189.71M	349.17M	338.54M	306.01M	302.06M	287.74M	302.08M
Property, Plant & Equipment	31.34M	36.38M	44.64M	48.09M	191.47M	185.02M	164.09M	142.31M	125.06M	126.36M
Fixed Asset Turnover	9.69x	8.93x	8.29x	8.69x	2.36x	2.75x	3.45x	4.15x	4.99x	5.44x
Goodwill	76.97M	74.76M	89M	88.21M	88.5M	89.19M	88.94M	92.92M	93.99M	93.74M
Intangible Assets	3.59M	2.69M	9.21M	7.85M	6.48M	5.11M	4.18M	8.59M	7.2M	7.22M
Long-Term Investments	-18.86M	-10.05M	-8.71M	-9.33M	48.39M	46.86M	38.02M	46.79M	45.18M	48.96M
Other Non-Current Assets	61.02M	39.3M	34.63M	45.56M	3.66M	2.69M	1.47M	2.29M	2.42M	9.16M
Total Assets+	313.72M	323.64M	361.76M	370.85M	533.24M	558.51M	555.36M	550.92M	553.21M	571.44M
Asset Turnover	0.97x	1.00x	1.02x	1.13x	0.85x	0.91x	1.02x	1.07x	1.13x	1.20x
Asset Growth %	-0%	0.03%	0.12%	0.03%	0.44%	0.05%	-0.01%	-0.01%	0%	0.03%
Total Current Liabilities+	86.46M	94.1M	121.98M	142.5M	171.41M	200.13M	213.09M	217.13M	236.09M	251.31M
Accounts Payable	13.65M	13.73M	18.47M	21.94M	26.07M	19.43M	23.51M	27.58M	28.7M	28.16M
Days Payables Outstanding	24	22.04	26.05	27.69	29.94	19.13	21.45	24.55	23.16	21.41
Short-Term Debt	75K	0	0	0	12.85M	13.56M	14.34M	15.97M	5.59M	0
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0
Other Current Liabilities	59.85M	69.65M	82.14M	96.17M	22.45M	17.24M	20.75M	20.83M	151.23M	204.46M
Current Ratio	1.63x	1.81x	1.51x	1.27x	1.07x	1.10x	1.17x	1.15x	1.12x	1.07x
Quick Ratio	1.63x	1.81x	1.51x	1.27x	1.07x	1.10x	1.17x	1.15x	1.12x	1.07x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	16.19M	21.66M	32.55M	31.88M	164.08M	149.36M	136.44M	122.64M	105.02M	108.06M
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	146.55M	139.45M	124.46M	106.01M	92.28M	84.54M
Deferred Tax Liabilities	11.01M	122K	365K	302K	504K	725K	1.03M	953K	1.06M	1.19M
Other Non-Current Liabilities	16.19M	21.54M	32.18M	31.57M	17.03M	9.19M	10.95M	15.68M	11.68M	22.33M
Total Liabilities	102.65M	115.76M	154.53M	174.37M	335.49M	349.49M	349.53M	339.76M	341.11M	359.37M
Total Debt+	75K	0	0	0	159.4M	153M	138.8M	121.98M	114.34M	103.24M
Net Debt	-38.06M	-53.53M	-54.03M	-38.03M	133.76M	107.33M	72.67M	90.53M	68.76M	76.53M
Debt / Equity	0.00x	-	-	-	0.81x	0.73x	0.67x	0.58x	0.54x	0.49x
Debt / EBITDA	0.00x	-	-	-	3.15x	2.56x	1.70x	1.44x	1.39x	1.06x
Net Debt / EBITDA	-2.01x	-2.00x	-2.19x	-0.98x	2.64x	1.80x	0.89x	1.07x	0.83x	0.78x
Interest Coverage	21.26x	40.34x	32.57x	44.72x	23.40x	28.62x	57.46x	32.17x	14.85x	16.02x
Total Equity+	210.38M	208.55M	207.55M	196.47M	197.75M	209.02M	205.83M	211.15M	212.1M	212.07M
Equity Growth %	-0.02%	-0.01%	-0%	-0.05%	0.01%	0.06%	-0.02%	0.03%	0%	-0%
Book Value per Share	22.88	24.25	24.43	22.93	24.21	26.30	27.01	28.71	29.80	30.70
Total Shareholders' Equity	211.07M	207.88M	207.23M	196.47M	197.75M	209.02M	205.83M	211.15M	212.1M	212.07M
Common Stock	65.73M	54.12M	47.41M	22.84M	9.27M	503K	0	1.74M	0	1.66M
Retained Earnings	155.28M	166.91M	169.39M	186.23M	200.25M	217M	215.78M	224.39M	224.28M	225.46M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-9.25M	-13.82M	-9.9M	-12.59M	-11.76M	-8.48M	-9.95M	-14.98M	-12.18M	-15.05M
Minority Interest	-688K	663K	321K	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	20.42M	48.16M	45.86M	36.19M	27.83M	54.66M	75.7M	25.12M	60.07M	49.73M
Operating CF Margin %	0.07%	0.15%	0.12%	0.09%	0.06%	0.11%	0.13%	0.04%	0.1%	0.07%
Operating CF Growth %	-0.32%	1.36%	-0.05%	-0.21%	-0.23%	0.96%	0.38%	-0.67%	1.39%	-0.17%
Net Income	6.33M	14.23M	7.7M	22.47M	20.75M	24.51M	41.68M	43.62M	38.48M	46.65M
Depreciation & Amortization	6.54M	7.88M	8.86M	9.94M	21.27M	24.88M	25.78M	25.75M	25.84M	26.82M
Stock-Based Compensation	5.79M	6.87M	6.62M	4.82M	3.46M	3.23M	4.09M	4.77M	4.4M	5.29M
Deferred Taxes	-1.71M	8.4M	1.65M	-829K	-1.16M	1.11M	446K	189K	-4.63M	-2.87M
Other Non-Cash Items	10.09M	-301K	6.59M	1.98M	206K	-90K	-631K	-223K	594K	66K
Working Capital Changes	-6.62M	11.09M	14.44M	-2.2M	-16.69M	1.02M	4.34M	-48.99M	-4.61M	-26.23M
Change in Receivables	-3.44M	-8.8M	-14.36M	-14.43M	-12.76M	-1.95M	-5.69M	-24.93M	2.21M	-21.4M
Change in Inventory	-257K	-16.54M	-31.05M	-21.77M	-16.55M	-29.28M	-19.27M	0	0	0
Change in Payables	-515K	16.32M	23.41M	18.79M	16.19M	25.34M	14.88M	2.25M	4.01M	23.16M
Cash from Investing+	-16.5M	-11.92M	-25.67M	-15.45M	-16.69M	-17.09M	-2.62M	-18.16M	-2.94M	-18.12M
Capital Expenditures	-17.98M	-13.02M	-9.76M	-15.45M	-16.69M	-17.09M	-2.62M	-3.81M	-2.37M	-16.62M
CapEx % of Revenue	0.06%	0.04%	0.03%	0.04%	0.04%	0.03%	0%	0.01%	0%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	1.48M	1.1M	250K	0	0	0	0	0	0	0
Cash from Financing+	-13.04M	-19.19M	-21.85M	-35.75M	-23.82M	-19.5M	-51.99M	-38.95M	-44.48M	-48.86M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	-1.17M	-4.94M	-5.78M	-6.79M	-7.5M	-8.29M	-9.58M	-10.81M	-12.3M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	62K	1.37M	2.62M	-1.82M	-2.18M	-862K	1.27M	-1.74M	-2.26M	-3.21M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	2.45M	35.14M	36.1M	20.74M	11.14M	37.57M	73.08M	21.31M	57.71M	33.11M
FCF Margin %	0.01%	0.11%	0.1%	0.05%	0.02%	0.07%	0.13%	0.04%	0.09%	0.05%
FCF Growth %	-0.91%	13.35%	0.03%	-0.43%	-0.46%	2.37%	0.95%	-0.71%	1.71%	-0.43%
FCF per Share	0.27	4.09	4.25	2.42	1.36	4.73	9.59	2.90	8.11	4.79
FCF Conversion (FCF/Net Income)	2.67x	3.74x	6.01x	1.61x	1.34x	2.23x	1.82x	0.58x	1.56x	1.07x
Interest Paid	240K	405K	314K	509K	1.16M	1.16M	727K	1.58M	3.54M	4.14M
Taxes Paid	9.69M	6.18M	7.42M	4.81M	7.59M	6.54M	14.95M	15.65M	14.01M	21.44M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	3.6%	6.15%	3.66%	11.13%	10.53%	12.05%	20.09%	20.92%	18.18%	22%
Return on Invested Capital (ROIC)	5.46%	8.67%	7.66%	13.91%	8.98%	8.06%	14.06%	15.19%	14.58%	18.64%
Gross Margin	31.59%	29.99%	30.06%	30.76%	29.6%	27.08%	29.31%	30.6%	27.52%	30.18%
Net Margin	2.52%	3.97%	2.06%	5.39%	4.6%	4.82%	7.36%	7.38%	6.17%	6.79%
Debt / Equity	0.00x	-	-	-	0.81x	0.73x	0.67x	0.58x	0.54x	0.49x
Interest Coverage	21.26x	40.34x	32.57x	44.72x	23.40x	28.62x	57.46x	32.17x	14.85x	16.02x
FCF Conversion	2.67x	3.74x	6.01x	1.61x	1.34x	2.23x	1.82x	0.58x	1.56x	1.07x
Revenue Growth	-0.92%	6.99%	13.95%	12.86%	8.07%	12.63%	11.32%	4.41%	5.6%	10.17%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Time-and-Materials Contract	-	-	-	-	-	-	-	480.77M	509.99M	560.76M
Time-and-Materials Contract Growth	-	-	-	-	-	-	-	-	6.08%	9.95%
Fixed-Price Contract	-	-	-	-	-	-	-	110.13M	113.98M	126.66M
Fixed-Price Contract Growth	-	-	-	-	-	-	-	-	3.50%	11.12%

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	-	-	-	-	357.16M	405.81M	451.44M	470.23M	493.92M	558.8M
UNITED STATES Growth	-	-	-	-	-	13.62%	11.24%	4.16%	5.04%	13.14%
UNITED KINGDOM	-	-	-	-	72.17M	79.92M	86.19M	89.23M	94.44M	86.53M
UNITED KINGDOM Growth	-	-	-	-	-	10.74%	7.84%	3.53%	5.84%	-8.38%
Countries Other Than United States United Kingdom	-	-	-	22.1M	22.05M	22.64M	28.31M	31.43M	35.61M	42.08M
Countries Other Than United States United Kingdom Growth	-	-	-	-	-0.23%	2.71%	25.01%	11.05%	13.28%	18.17%
U	243.26M	251.96M	295.23M	329.68M	-	-	-	-	-	-
U Growth	-	3.58%	17.17%	11.67%	-	-	-	-	-	-
G	44.25M	52.51M	53.64M	65.87M	-	-	-	-	-	-
G Growth	-	18.67%	2.16%	22.80%	-	-	-	-	-	-
Non Us	-	72.82M	74.84M	-	-	-	-	-	-	-
Non Us Growth	-	-	2.78%	-	-	-	-	-	-	-
Other Foreign Countries	16.05M	20.31M	21.2M	-	-	-	-	-	-	-
Other Foreign Countries Growth	-	26.53%	4.39%	-	-	-	-	-	-	-
Foreign Countries	60.3M	-	-	-	-	-	-	-	-	-
Foreign Countries Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

CRA International, Inc. (CRAI) has a price-to-earnings (P/E) ratio of 32.2x. This suggests investors expect higher future growth.

Growth & Financials

CRA International, Inc. (CRAI) reported $731.1M in revenue for fiscal year 2024. This represents a 140% increase from $305.2M in 2011.

CRA International, Inc. (CRAI) grew revenue by 10.2% over the past year. This is steady growth.

Yes, CRA International, Inc. (CRAI) is profitable, generating $56.6M in net income for fiscal year 2024 (6.8% net margin).

Dividend & Returns

Yes, CRA International, Inc. (CRAI) pays a dividend with a yield of 0.82%. This makes it attractive for income-focused investors.

CRA International, Inc. (CRAI) has a return on equity (ROE) of 22.0%. This is excellent, indicating efficient use of shareholder capital.

CRA International, Inc. (CRAI) generated $28.4M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

...