CRAI
CRA International, Inc.
CRAI's fundamentals are mixed, but it looks expensive: trading at 25x earnings, above its usual 20x. Analysts expect earnings growth.
CRAI Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Under pressure | |
| Strong |
CRAI's revenue, profitability and balance sheet are currently healthy, but its cash flow is under pressure.
CRAI PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 16x | $130 | -35% |
| Fair | 20x | $162 | -19% |
| Forward | 22x | $199 | — |
| Current | 25x | $199 | — |
| Expensive | 26x | $204 | +2.6% |
Historical ranges are pointers, not guarantees.
CRAI's PE is in its expensive range at 25x. If earnings grow as analysts expect, today's price would be 22x next year's earnings, in its fair range.
CRAI Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Stable | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for CRAI, with profitability holding steady.
CRAI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $9.25 | +16% |
| Q3 2026 | $7.99 | -4% |
| Q2 2026 | $7.52 | -9% |
| Q1 2026 | $7.21 | -2.7% |
| Q4 2025 | $8.14 | +21% |
| Q3 2025 | $8.32 | +35% |
| Q2 2025 | $8.26 | +45% |
| Q1 2025 | $7.41 | +21% |
| Q4 2024 | $6.74 | +25% |
CRAI earned $7.99 per share over the past year, down 4% from the year before.
CRAI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $214.9M | +16% |
| Q2 2026 | $210.8M | +13% |
| Q1 2026 | $201M | +11% |
| Q4 2025 | $197M | +12% |
| Q3 2025 | $185.9M | +11% |
| Q2 2025 | $186.9M | +9% |
| Q1 2025 | $181.9M | +5.9% |
| Q4 2024 | $176.4M | +9.2% |
CRAI's revenue has grown year over year for 12 quarters in a row: $215M last quarter, up 16% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 11% | +1.9 points |
| Q2 2026 | 11% | +0.6 points |
| Q1 2026 | 9% | -5.1 points |
| Q4 2025 | 10% | -1.7 points |
| Q3 2025 | 9.3% | -1.7 points |
| Q2 2025 | 11% | +4 points |
| Q1 2025 | 14% | +2.6 points |
| Q4 2024 | 12% | +1.6 points |
CRAI's operating margin was 11% last quarter, up 1.9 points from the same quarter a year ago.
CRAI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $73.2M | +104% |
| Q2 2026 | -$6.1M | -230% |
| Q1 2026 | -$116.5M | -$35.6M |
| Q4 2025 | $59M | -14% |
| Q3 2025 | $35.9M | +26% |
| Q2 2025 | $4.7M | +$5.2M |
| Q1 2025 | -$81M | -$17.2M |
| Q4 2024 | $68.8M | +15% |
CRAI still generates free cash flow, though less than at its 2026 peak: $10M over the past year.
CRAI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.2% | -80K shares |
| 1 year | -4.4% | -294K shares |
| 3 years | -11% | -756K shares |
| 5 years | -16% | -1.2M shares |
| Available history | -23% | -1.8M shares |
CRAI has 6M diluted shares, down 4.4% from a year ago, with $49M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $27.8M |
| Q1 2026 | $21.5M |
| Q4 2025 | — |
| Q3 2025 | $4M |
| Q2 2025 | $43.2M |
| Q1 2025 | — |
| Q4 2024 | — |
CRAI spent $49M buying back its own shares over the past year, up 4.6% from the year before.
CRAI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.5x | Very low |
| Q2 2026 | 2.1x | Moderate |
| Q1 2026 | 1.8x | Healthy |
| Q4 2025 | 0.2x | Very low |
| Q3 2025 | 0.7x | Very low |
| Q2 2025 | 1.0x | Healthy |
| Q1 2025 | 0.7x | Very low |
| Q4 2024 | -0.3x | Net Cash |
CRAI's net debt is less than a year of its operating earnings (EBITDA).
CRAI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 64.2 | Neutral |
| Stochastic | 74.6 | Neutral |
CRAI's weekly RSI is 64 (neutral) and its Stochastic is 75 (neutral).
CRAI PE vs Industrials Sector
| Metric | CRAI | Sector median | Relative |
|---|---|---|---|
| PE | 25x | 24x | 3.8% above |
| PE % | 79 | 58 | 21 pts above |
CRAI is trading at 25x earnings, in line with the Industrials sector's median of 24x.
CRAI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $185.1 | 7.7% above |
| 20 week MA | $174.8 | 14% above |
| 50 week MA | $171.8 | 16% above |
| 100 week MA | $178.3 | 12% above |
| 200 week MA | $154.8 | 29% above |
CRAI is in an uptrend: it's above all five of its weekly moving averages, and 29% above its 200-week average.
CRAI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $53.6 | $50.5 | -5.7% |
| 2021 | $50.5 | $92.3 | +83% |
| 2022 | $92.3 | $120.0 | +30% |
| 2023 | $120.0 | $98.9 | -18% |
| 2024 | $98.9 | $186.8 | +89% |
| 2025 | $186.8 | $206.2 | +10% |
| 2026 YTD | $206.2 | $199.3 | -3.4% |
CRAI has finished higher in four of the last six years, two of them by more than 50%. It's down 3.4% so far in 2026.