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Primary reporting period: 2026-01-03 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
CRA International, Inc., along with its affiliated entities, delivers specialized advisory services across the domains of economics, finance, and management in the United States, the United Kingdom, and globally. The firm provides expert guidance to clients on economic and financial considerations arising from legal disputes and regulatory challenges. Additionally, it collaborates with corporations to address matters of business strategy and operational effectiveness.
How they make money
CRA International, Inc. provides economic, financial, and business management consulting services. The company generates revenue primarily through professional fees charged for the time and expertise of its consultants, who apply advanced analytical techniques to complex engagements for law firms, corporations, and government entities.
Products & services
Consulting services in two broad areas: litigation, regulatory, and financial consulting, and management consulting, delivered through an international network of offices.
Brands & revenue mix
Charles River Associates
The primary registered trade name under which the company operates its consulting business.
Separate brand revenue is not available in this research.Source
Revenue share is not unit sales or a best-seller ranking. Parent brands and included sub-brands can overlap; do not add overlapping rows.
Calculated from reported segment revenue. Check the source period and revenue basis before comparing shares. Categories can overlap and may not add to 100%.
Calculated from reported segment revenue. Check the source period and revenue basis before comparing shares. Categories can overlap and may not add to 100%.
National and international trade associationsSource
Customer concentration
The company does not have a single client that accounts for 10% or more of its consolidated revenue as of the fiscal year ended January 3, 2026.
Suppliers, materials & equipment
Professional services and office infrastructure providers — The company relies on various third-party vendors for office space, technology infrastructure, and professional business services to support its global operations.Source
Overall investment score · Quality, value, risk and opportunity
45
Weak
PoorElite
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
68
Fair
Financial Strength
62
Business Quality / Moat
60
Management
90
Growth Quality
44
Risk / Durability
96
Weak Company · Expensive Stock
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
48
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
53/100
Building Historical Record
Model Score 53/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
Click for full breakdown →
WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
At today’s price, the WSS valuation framework currently reads as less attractive based on the available valuation and market data.
The model outlook is currently moderate.
What we like
•Recent buyback activity is present
What to watch
•Valuation is a weaker part of the current profile
•Revenue fundamentals are weak
•Asset quality is a weaker factor
Company-specific research
Questions worth answering for CRAI
Research inputs 100% complete
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
•Can CRAI maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
•Is CRAI's positive free cash flow repeatable, or is the current level being helped by temporary working-capital or spending changes?
•Is CRAI's debt load manageable relative to cash generation, interest costs and upcoming maturities?
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
Volatility = How violently is it moving?
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for CRAI
Detected from reported data — verify before acting.
Dividend history reported
Dividend payments are recorded. Review the dates and regular/special classification below; past payments do not guarantee future dividends.
Historical repurchase activity
Reported cash flows or share-count measures indicate past repurchase activity. This does not verify an active buyback authorization or future purchases.
Community Sentiment
0 active · 0 total calls
0% Bullish (0) 0% Bearish (0)
No personal call yet on CRAI.
Potential upside factors
+Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
+High level of repeat business.
+Base of highly recognized employee consultants.
+Positive free cash flow may provide capacity to invest in growth.
Potential downside factors
−Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Consulting Services industry.
−Dependence on the ability to attract and retain qualified consultants.
−Risks associated with international operations and foreign currency fluctuations.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
Create a free account to make a call.
Scores
Click any score for full breakdown
Wall Street Score
Weak45/ 100
Weak (0–50)Fair (51–71)Strong (72+)
Debt
Fair
61
Debt Cost4.2%
Debt Reduction YoY-23.2%
Debt / Equity0.60x
Tap for breakdown →
Revenue
Poor
28
Revenue YoY5.7%
Revenue CAGR9.8%
Net Margin6.2%
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Asset
Weak
43
Asset Growth YoY10.1%
Liquidation/Share$27.23
Net Assets/MCap0.44x
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Capital
Weak
43
Earnings Yield4.6%
Buyback Yield3.3%
Debt Cost4.2%
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Management
Elite
90
ROIC16.6%
ROE27.0%
ROA7.4%
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Moat
Fair
60
EPS Growth19.3%
FCF/Share Growth-5.2%
Rev/Share Growth12.3%
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Valuation
Weak
41
Intrinsic Value$191.49
Value Reference$114.89
MOS-0.7%
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Buffett
Fair
54
Revenue28
Moat60
Valuation41
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MOS
Poor
36
MOS %-0.7%
Value Reference$114.89
Deep Discount Reference$76.60
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Financial
Poor
35
Interest Coverage15.5x
ROIC16.6%
FCF Yield1.7%
Tap for breakdown →
Master
Poor
38
Financial35
Valuation41
Debt61
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Resilience
Fair
54
Survival Years0.2 yrs
Current Ratio0.92x
FCF Margin2.5%
Tap for breakdown →
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Score Changes
6 historical score records available
Previous Score
45
Sep 17, 2026
Change
+0.1
points
Current Score
45
Oct 1, 2026
Category Changes
Revenue0
Debt0
Assets0
Capital0
Management0
Moat+0.9
Valuation+0.2
Buffett+0.1
CRAI increased 0.1 points because overall fundamentals improved.
Projected Score
Projected Score
45
Projected Change
+0.4 points
Preliminary comparable-period financial changes suggest improvement of approximately 0.4 points. This is a projected estimate, not the official WallStreetScore.
Monetary values in USD. Share counts in raw units.
Income StatementBalance SheetCash Flow
AnnualQuarterlyTTM + Annual
All rows
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
Line Item
TTM
2026
2024
2023
2022
2021
2020
2019
2018
2017
2016
Revenue
$794.6M
$751.6M
$687.4M
$624.0M
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Cost of Revenue
$433.0M
$533.4M
$479.9M
$452.2M
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Gross Profit
$361.7M
$218.2M
$207.5M
$171.7M
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Research & Development
$0.00
$0.00
$0.00
$0.00
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SG&A Expenses
$137.2M
$135.0M
$125.0M
$115.1M
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Operating Expenses
$282.3M
$135.0M
$136.7M
$115.1M
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EBITDA
$247.6M
$96.1M
$97.5M
$81.9M
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Operating Income
$79.4M
$83.1M
$70.8M
$56.6M
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Interest Expense
$5.1M
$5.4M
$4.4M
$3.8M
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Income Before Tax
$72.3M
$76.6M
$66.2M
$52.3M
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Income Tax Expense
$23.0M
$21.8M
$19.6M
$13.8M
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Net Income
$49.3M
$54.8M
$46.7M
$38.5M
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Basic EPS
$7.60
$8.23
$6.82
$5.47
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Basic Shares
6.35M
6.64M
6.82M
7.01M
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Diluted Shares
6.41M
6.71M
6.91M
7.12M
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Upgrade to Premium for up to 10 annual periods, where available.
Estimated earnings date:A future estimated earnings date is not currently available.
Jul 4, 2026Q2FY2026
Revenue
$210.8M
Estimate unavailable.
Revenue Beat/Miss
Not available (no estimate stored)
EPS
$2.10
Estimate unavailable.
EPS Beat/Miss
Not available (no estimate stored)
Debt Change
-13.3%
Cash Change
-6.4%
Margin Change
-0.1 pp
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
Debt reduced
What Weakened
Margins contracted
Cash position declined
Potential Score Impact
Positive indicators included revenue growth, EPS growth, debt levels. Pressure indicators included cash levels, net income margin. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue increased 12.8%. EPS increased 17.3%. Cash declined 6.4%. Total debt declined 13.3%. Net income margin declined by 0.1 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Upgrade to Premium to unlock all earnings history.View plans
Government disclosed trading activity is available on the Smart Money directory. Filings may be delayed and may not represent complete current holdings.
Dividend HistoryShare
Dividend History
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Predictions & Historical PerformanceShare
Conservative Projected Values
3 Years
$———.——
Premium
5 Years
$———.——
Premium
10 Years
$———.——
Premium
Conservative Projection Rate
——%
Premium
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.