CRA International, Inc. (CRAI) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q4 26	$2.15	$2.16	+0.5%	—	—	—
Q3 26	$2.02	$1.99	-1.5%	—	—	—
Q2 26	$1.8	$2.06	+14.4%	—	—	—
Q1 26	$1.84	$1.88	+2.2%	—	—	—
Q4 25	$1.95	$2.22	+13.8%	—	—	—
Q3 25	$1.62	$2.03	+25.3%	—	—	—
Q2 25	$1.58	$1.77	+12.0%	—	—	—
Q1 25	$1.5	$1.83	+22.0%	—	—	—
Q4 24	$1.4	$1.96	+40.0%	—	—	—
Q3 24	$1.1	$1.63	+48.2%	—	—	—
Q2 24	$1.39	$1.13	-18.7%	—	—	—
Q1 24	$1.36	$1.42	+4.4%	—	—	—
Q4 23	$1.33	$1.29	-3.0%	—	—	—
Q3 23	$1.4	$1.19	-15.0%	—	—	—
Q2 23	$1.23	$1.64	+33.3%	—	—	—
Q1 23	$1.28	$1.58	+23.4%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$8.23	—	—	$751.6M	—
FY24	—	$6.82	—	—	$687.4M	—
FY23	—	$5.48	—	—	$624M	—
FY22	—	$6.02	—	—	$590.9M

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$324.8M	$370.1M	$417.6M	$451.4M	$508.4M	$565.9M	$590.9M	$624M	$687.4M	$751.6M
YoY change	+6.99%	+13.9%	+12.9%	+8.07%	+12.6%	+11.3%	+4.41%	+5.6%	+10.2%	+9.33%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	324.8M	370.1M	417.6M	451.4M	508.4M	565.9M	590.9M	624M	687.4M	751.6M
Cost of revenue	227.4M	258.8M	289.2M	317.8M	370.7M	400.1M	410.1M	439.8M	479.9M	519.3M
Gross profit	97.4M	111.2M	128.5M	133.6M	137.7M	165.9M	180.8M	184.2M	207.5M	232.3M
Gross margin	30%	30.1%	30.8%	29.6%	27.1%	29.3%	30.6%	29.5%	30.2%	30.9%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	70.6M	86.5M	89.5M	93.6M	90M	97.4M	110.1M	115.1M	125M	135M
Operating expenses	70.6M	86.5M	89.5M	93.6M	90M	97.4M	110.1M	115.1M	125M	135M
Operating income	18.9M	15.8M	28.9M	29.3M	34.8M	55.7M	58.7M	57.5M	70.8M	83.1M
Operating margin	5.83%	4.26%	6.93%	6.5%	6.84%	9.85%	9.94%	9.22%	10.3%	11.1%
Non-operating income, net	3.4M	-116K	645K	-1.3M	42K	-494K	1.9M	-1.4M	-92K	-1.2M
Pretax income	21.9M	15.2M	28.9M	26.8M	33.6M	54.3M	58.8M	52.3M	66.2M	76.6M
Income tax	7.7M	7.5M	6.5M	6M	9.1M	12.6M	15.2M	13.8M	19.6M	21.8M
Net income	14.2M	7.7M	22.5M	20.7M	24.5M	41.7M	43.6M	38.5M	46.7M	54.8M
Net margin	4.38%	2.08%	5.38%	4.6%	4.82%	7.36%	7.38%	6.17%	6.79%	7.29%
EBITDA	26.4M	24.7M	38.9M	50.7M	59.7M	81.5M	84.5M	83.4M	97.6M	112.6M
EPS	1.5	0.91	2.76	2.63	3.14	5.59	6.02	5.48	6.82	8.23
Diluted EPS	1.49	0.89	2.61	2.53	3.07	5.45	5.91	5.39	6.74	8.14

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	147.6M	161.6M	171.8M	171.4M	167.7M	176.4M	181.9M	186.9M	185.9M	197M	201M	210.8M
Cost of revenue	105.9M	112.7M	118.9M	125.3M	115.2M	120.5M	120.4M	128.5M	131.5M	138.9M	145M	148.7M
Gross profit	41.7M	48.9M	52.9M	46.1M	52.6M	55.9M	61.5M	58.3M	54.4M	58M	55.9M	62.1M
Gross margin	28.2%	30.3%	30.8%	26.9%	31.3%	31.7%	33.8%	31.2%	29.3%	29.5%	27.8%	29.4%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	27.9M	29M	30.5M	32M	31.3M	31.3M	32.5M	35.1M	33.7M	33.7M	34.5M	35.3M
Operating expenses	27.9M	29M	30.5M	32M	31.3M	31.3M	32.5M	35.1M	33.7M	33.7M	34.5M	35.3M
Operating income	10.8M	17.1M	19.6M	11.3M	18.4M	21.5M	25.5M	19.7M	17.2M	20.6M	18M	23.5M
Operating margin	7.31%	10.6%	11.4%	6.58%	11%	12.2%	14%	10.6%	9.26%	10.5%	8.97%	11.2%
Non-operating income, net	755K	-986K	-142K	-191K	-904K	1.1M	-474K	-815K	763K	-666K	378K	-467K
Pretax income	10.5M	15.6M	19M	9.6M	16M	21.6M	24.6M	17.1M	16.2M	18.6M	17.4M	20.1M
Income tax	1.9M	4.1M	5.3M	3.1M	4.6M	6.6M	6.6M	5M	4.8M	5.4M	6.3M	6.6M
Net income	8.6M	11.5M	13.7M	6.5M	11.4M	15M	18M	12.1M	11.5M	13.2M	11.1M	13.5M
Net margin	5.83%	7.09%	7.97%	3.81%	6.82%	8.49%	9.9%	6.49%	6.17%	6.69%	5.54%	6.41%
EBITDA	17.1M	23.6M	26M	18M	25.1M	28.5M	32.8M	27.2M	24.6M	28.1M	25.1M	30.5M
EPS	1.22	—	1.97	0.96	1.68	2.21	2.65	1.81	1.74	2.01	1.71	2.13
Diluted EPS	1.21	—	1.95	0.94	1.67	2.18	2.62	1.79	1.73	1.99	1.69	2.1

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	311.2M	372.7M	345M	428.5M	395.6M	693M	883.7M	692.7M	1.3B	1.3B	1B
Enterprise value	257.7M	318.7M	306.9M	562.2M	503M	765.7M	974.2M	755.9M	1.4B	1.4B	1.3B
Shares outstanding	8.5M	8.3M	8.1M	7.9M	7.8M	7.4M	7.2M	7M	6.8M	6.6M	6.6M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	21.9	48.4	15.4	20.7	16.1	16.6	20.3	18	27.4	24.3	21.8
P/S	0.96	1.01	0.83	0.95	0.78	1.22	1.5	1.11	1.86	1.77	1.29
P/B	1.5	1.8	1.76	2.17	1.89	3.37	4.19	3.27	6.02	6.24	5.63
EV/EBITDA	9.75	12.9	7.88	11.1	8.43	9.39	11.5	9.07	13.9	12.8	13.9
EV/Sales	0.79	0.86	0.73	1.25	0.99	1.35	1.65	1.21	1.97	1.92	1.64
Earnings yield	4.57%	2.07%	6.51%	4.84%	6.19%	6.01%	4.94%	5.55%	3.65%	4.11%	4.58%
FCF yield	11.3%	9.69%	6.01%	2.6%	9.5%	10.5%	2.41%	8.33%	2.59%	1.39%	3.03%
PEG	—	—	—	—	—	—	—	—	—	—	1.24

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	30%	30.1%	30.8%	29.6%	27.1%	29.3%	30.6%	29.5%	30.2%	30.9%	29.4%
Operating margin	5.83%	4.26%	6.93%	6.5%	6.84%	9.85%	9.94%	9.22%	10.3%	11.1%	11.2%
Net margin	4.38%	2.08%	5.38%	4.6%	4.82%	7.36%	7.38%	6.17%	6.79%	7.29%	6.2%
ROE	6.85%	3.72%	11.4%	10.5%	11.7%	20.2%	20.7%	18.1%	22%	25.6%	26%
ROA	4.4%	2.13%	6.06%	3.89%	4.39%	7.5%	7.92%	6.96%	8.16%	8.71%	7.72%
ROIC	7.97%	5.23%	14.2%	6.85%	8.02%	15.4%	14.4%	15.4%	17.3%	18.4%	11.7%
Return on tangible assets	8.43%	4.66%	12.6%	6.04%	6.62%	11.3%	12.5%	11%	12.6%	12.8%	10.3%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.81	1.51	1.27	1.07	1.1	1.17	1.15	1.12	1.07	0.92	0.82
Quick ratio	1.81	1.51	1.27	1.07	1.1	1.17	1.15	1.12	1.07	0.92	0.82
Debt / equity	0	—	0	0.81	0.73	0.67	0.58	0.51	0.49	0.6	1.67
Debt / assets	0	—	0	0.3	0.27	0.25	0.22	0.2	0.18	0.2	0.45
Net debt / EBITDA	-2.03	—	-0.98	2.64	1.8	0.89	1.07	0.76	0.78	0.97	2.61
Interest coverage	47.7	32.3	45.7	22.4	28.6	57	33.2	14.7	16	15.3	11.2
Effective tax rate	35%	49.2%	22.3%	22.6%	27.1%	23.2%	25.8%	26.4%	29.6%	28.5%	31.8%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	38.2	44.6	51.5	57.4	65.4	76.2	81.9	89	100.8	113.2	122.5
EPS (basic)	1.5	0.91	2.76	2.63	3.14	5.59	6.02	5.48	6.82	8.23	8.23
EPS (diluted)	1.49	0.89	2.61	2.53	3.07	5.45	5.91	5.39	6.74	8.14	7.5
Book value per share	24.4	25	24.2	25.1	26.9	27.7	29.3	30.3	31.1	32.2	29.1
FCF per share	4.13	4.35	2.56	1.42	4.84	9.84	2.95	8.23	4.85	2.79	-4.33
Cash per share	6.3	6.52	4.69	3.26	5.88	8.91	4.36	6.5	3.92	2.74	3.42
Capex per share	1.53	1.18	1.91	2.12	2.2	0.35	0.53	0.34	2.44	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	4.01%	2.64%	3.7%	3.7%	3.36%	0.46%	0.65%	0.38%	2.42%	—	—
Capex / operating cash flow	19%	22.5%	76.9%	121.9%	46.1%	2.94%	14.8%	4.06%	27.7%	—	—
Payout ratio	8.19%	64.2%	26.9%	32.7%	30.6%	19.9%	22%	28.1%	26.4%	25.2%	29.3%
Dividend yield	0.37%	1.33%	1.75%	1.58%	1.9%	1.2%	1.08%	1.56%	0.96%	1.04%	1.38%

Yield

1.38%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.57

ex-dividend Aug 25, 2026

Payout ratio

29%

of earnings

Dividend growth

9 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 25, 2026	$0.57
May 26, 2026	$0.57
Mar 10, 2026	$0.57
Nov 25, 2025	$0.57
Aug 26, 2025	$0.49
May 27, 2025	$0.49
Mar 4, 2025	$0.49
Nov 26, 2024

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$147.6M	$161.6M	$171.8M	$171.4M	$167.7M	$176.4M	$181.9M	$186.9M	$185.9M	$197M	$201M	$210.8M
YoY change	-0.6%	+11.5%	+12.4%	+5.85%	+13.7%	+9.17%	+5.86%	+9%	+10.8%	+11.6%	+10.5%	+12.8%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	53.5M	54M	38M	25.6M	45.7M	66.1M	31.4M	45.6M	26.7M	18.2M
Receivables	66.9M	79.8M	94.5M	107.8M	111.6M	117M	143.6M	142.7M	162.3M	183.3M
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	170.5M	184.3M	181.1M	184.1M	220M	249.3M	248.9M	265.5M	269.4M	303.1M
Property, plant & equipment	36.4M	44.6M	48.1M	191.5M	185M	164.1M	142.3M	125.1M	126.4M	112.8M
Goodwill & intangibles	154.9M	196.4M	192.1M	190M	188.6M	186.2M	203M	202.4M	201.9M	200.8M
Total assets	323.6M	361.8M	370.8M	533.2M	558.5M	555.4M	550.9M	553.2M	571.4M	628.9M
Accounts payable	13.7M	18.5M	21.9M	26.1M	19.4M	23.5M	27.6M	28.7M	28.2M	30.2M
Short-term debt	0	—	—	12.8M	13.6M	14.3M	16M	16.5M	18.7M	51.2M
Total current liabilities	94.1M	122M	142.5M	171.4M	200.1M	213.1M	217.1M	236.1M	251.3M	330M
Long-term debt	—	—	0	146.6M	139.4M	124.5M	106M	92.3M	84.5M	76M
Total liabilities	115.8M	154.5M	174.4M	335.5M	349.5M	349.5M	339.8M	341.1M	359.4M	415.3M
Shareholders' equity	207.9M	207.2M	196.5M	197.8M	209M	205.8M	211.2M	212.1M	212.1M	213.6M
Total debt	0	—	0	159.4M	153M	138.8M	122M	108.8M	103.2M	127.2M
Net debt	-53.5M	—	-38M	133.8M	107.3M	72.7M	90.5M	63.2M	76.5M	109M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	27.6M	45.6M	37.1M	24.6M	24.5M	26.7M	25.6M	19.4M	22.5M	18.2M	32.5M	21.4M
Receivables	124.9M	142.7M	139.1M	140.1M	152.1M	162.3M	140.3M	159.7M	151.9M	183.3M	141M	168.1M
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	248.7M	265.5M	275.4M	271.2M	285.5M	269.4M	278.1M	293.1M	305.6M	303.1M	316.5M	339M
Property, plant & equipment	128.8M	125.1M	121.5M	118.2M	125.5M	126.4M	121.4M	124.7M	119.2M	112.8M	108.4M	104.3M
Goodwill & intangibles	202M	202.4M	201.3M	203.7M	204.4M	201.9M	201.9M	202.7M	201.3M	200.8M	199.6M	199M
Total assets	539M	553.2M	552.5M	546M	582.3M	571.4M	590.4M	606.7M	629M	628.9M	662.4M	678.5M
Accounts payable	24.7M	28.7M	33.4M	23M	28.4M	28.2M	19.7M	24.6M	26.4M	30.2M	24.3M	25.2M
Short-term debt	48.2M	16.5M	86.7M	104M	78.6M	18.7M	104M	138.7M	113.7M	51.2M	209.2M	236.7M
Total current liabilities	224.2M	236.1M	236.8M	252.7M	268.3M	251.3M	270.5M	317.3M	338.6M	330M	380.8M	415.2M
Long-term debt	95.4M	92.3M	89M	84.5M	89.4M	84.5M	81M	85.2M	80.7M	76M	70.9M	67M
Total liabilities	331.1M	341.1M	340.8M	354.3M	377.8M	359.4M	363.1M	409.8M	427.4M	415.3M	464M	496.6M
Shareholders' equity	208M	212.1M	211.8M	191.7M	204.5M	212.1M	227.3M	197M	201.7M	213.6M	198.4M	181.8M
Total debt	143.6M	108.8M	175.7M	188.5M	168M	103.2M	184.9M	223.9M	194.3M	127.2M	280.1M	303.7M
Net debt	116M	63.2M	138.6M	163.8M	143.6M	76.5M	159.3M	204.4M	171.8M	109M	247.6M	282.2M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	14.2M	7.7M	22.5M	20.7M	24.5M	41.7M	43.6M	38.5M	46.7M	54.8M
Depreciation & amortization	7.9M	8.9M	10M	21.3M	24.9M	25.8M	25.8M	25.8M	26.8M	29.5M
Stock-based compensation	6.9M	6.6M	4.8M	3.5M	3.2M	4.1M	4.8M	4.4M	5.3M	5.9M
Change in working capital	27.9M	15.3M	-20M	-30.8M	-16.8M	17.1M	-48.5M	-5.8M	-15.9M	-71.8M
Operating cash flow	68.5M	43.3M	20.1M	13.7M	37.1M	89.1M	25.8M	58.3M	60M	22.4M
Capital expenditure	-13M	-9.8M	-15.4M	-16.7M	-17.1M	-2.6M	-3.8M	-2.4M	-16.6M	—
Investing cash flow	-11.9M	-25.7M	-15.4M	-16.7M	-17.1M	-2.6M	-18.2M	-2.9M	-18.1M	0
Dividends paid	-1.2M	-4.9M	-6M	-6.8M	-7.5M	-8.3M	-9.6M	-10.8M	-12.3M	-13.8M
Share repurchases	-19.3M	-19.5M	-27.9M	-18.1M	-13.4M	-45M	-27.6M	-31.4M	-33.3M	-47.1M
Financing cash flow	-22M	-28.3M	-37.9M	-27M	-98.7M	-131.2M	-166.4M	-150.3M	-48.9M	-127.8M
Net change in cash	34.6M	-10.6M	-33.3M	-30M	-78.7M	-44.7M	-158.7M	-95M	-7M	-105.4M
Free cash flow	35.1M	36.1M	20.7M	11.1M	37.6M	73.1M	21.3M	57.7M	33.1M	18.6M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	8.6M	11.5M	13.7M	6.5M	11.4M	15M	18M	12.1M	11.5M	13.2M	11.1M	13.5M
Depreciation & amortization	6.4M	6.5M	6.4M	6.7M	6.7M	7M	7.3M	7.4M	7.4M	7.4M	7.1M	7M
Stock-based compensation	926K	1.4M	1M	1.4M	1.4M	1.5M	1.4M	962K	1.6M	1.9M	1.4M	2.4M
Change in working capital	50.8M	38.8M	-81.9M	-11.5M	18M	59.6M	-106.4M	-14.9M	14.2M	35.3M	-130.8M	-31.8M
Operating cash flow	65.6M	54.7M	-61M	3.1M	38.1M	79.8M	-80.8M	5.9M	36.5M	60M	-113.9M	-4.4M
Capital expenditure	-726K	-358K	-730K	-2.3M	-3M	-10.6M	-974K	—	—	—	—	—
Investing cash flow	-733K	-358K	-730K	-3.8M	-3M	-10.6M	-974K	—	0	0	—	—
Dividends paid	-2.5M	-3M	-3.1M	-2.9M	-2.9M	-3.5M	-3.5M	-3.4M	-3.2M	-3.7M	-3.8M	-3.6M
Share repurchases	0	-7.8M	-9.2M	-24.1M	0	0	0	-43.1M	-4M	0	-21.5M	-27.8M
Financing cash flow	-98.6M	-75.9M	56.1M	-16.4M	-58.9M	-71.6M	74.1M	-18.9M	-57.3M	-125.7M	81.3M	-27.7M
Net change in cash	-33.7M	-21.6M	-5.7M	-17M	-23.8M	-2.4M	-7.7M	-13M	-20.7M	-65.7M	-32.6M	-32.1M
Free cash flow	64.2M	59.7M	-63.8M	-509K	28.6M	68.8M	-81M	4.7M	35.9M	59M	-116.5M	-6.1M

CRA International, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement