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CRA International Inc (CRAI)



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Upturn Advisory Summary
08/28/2025: CRAI (1-star) has a low Upturn Star Rating. Not recommended to BUY.
1 Year Target Price $239.5
1 Year Target Price $239.5
0 | Strong Buy |
1 | Buy |
1 | Hold |
0 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 21.17% | Avg. Invested days 40 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 1.32B USD | Price to earnings Ratio 23.76 | 1Y Target Price 239.5 |
Price to earnings Ratio 23.76 | 1Y Target Price 239.5 | ||
Volume (30-day avg) 2 | Beta 0.9 | 52 Weeks Range 151.39 - 211.81 | Updated Date 08/28/2025 |
52 Weeks Range 151.39 - 211.81 | Updated Date 08/28/2025 | ||
Dividends yield (FY) 0.94% | Basic EPS (TTM) 8.25 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date 2025-07-30 | When Before Market | Estimate 1.84 | Actual 1.88 |
Profitability
Profit Margin 7.93% | Operating Margin (TTM) 10.56% |
Management Effectiveness
Return on Assets (TTM) 9.21% | Return on Equity (TTM) 29.09% |
Valuation
Trailing PE 23.76 | Forward PE 24.75 | Enterprise Value 1494918228 | Price to Sales(TTM) 1.85 |
Enterprise Value 1494918228 | Price to Sales(TTM) 1.85 | ||
Enterprise Value to Revenue 2.1 | Enterprise Value to EBITDA 13.29 | Shares Outstanding 6584090 | Shares Floating 6329223 |
Shares Outstanding 6584090 | Shares Floating 6329223 | ||
Percent Insiders 3.87 | Percent Institutions 93.61 |
Upturn AI SWOT
CRA International Inc

Company Overview
History and Background
CRA International Inc., now known as Charles River Associates, was founded in 1965. Initially focusing on economic and management consulting, it has grown through acquisitions and organic growth to become a global consulting firm.
Core Business Areas
- Antitrust & Competition Economics: Provides expert economic analysis and testimony in antitrust and competition matters.
- Auction & Game Theory: Offers expertise in designing and analyzing auctions and applying game theory to strategic decision-making.
- Energy, Chemicals & Mining: Advises clients in the energy, chemicals, and mining industries on market analysis, regulatory issues, and strategic planning.
- Financial Economics: Provides economic analysis and expert testimony in financial disputes and regulatory matters.
- Life Sciences: Advises pharmaceutical, biotechnology, and medical device companies on a range of issues, including pricing, market access, and intellectual property.
- Litigation: Offers expert testimony and consulting services in complex litigation matters.
- Management Consulting: Provides strategic and operational consulting services to a variety of industries.
Leadership and Structure
Charles River Associates is led by its President and Chief Executive Officer, Rahul Khullar. The organizational structure includes various practice groups, each headed by a senior vice president. The company operates with a board of directors overseeing its strategic direction.
Top Products and Market Share
Key Offerings
- Expert Testimony: Provides expert witnesses for litigation and regulatory proceedings. Market share is difficult to pinpoint precisely but CRA has a significant presence in its core expertise areas. Competitors include FTI Consulting, Compass Lexecon, and Berkeley Research Group. Revenue from this product is a significant portion of total revenue, difficult to specifically isolate.
- Consulting Services: Offers strategic and operational consulting services to businesses and governments. Market share varies by industry and service area. Competitors include McKinsey, Bain, and Boston Consulting Group (BCG) for management consulting; specialized firms for other areas. Revenue from consulting services is a significant portion of total revenue, difficult to specifically isolate.
- Economic Analysis: Conducts economic analysis for antitrust, regulatory, and litigation purposes. Market share varies. Competitors are Compass Lexecon and FTI Consulting. Revenue from this product is a significant portion of total revenue, difficult to specifically isolate.
Market Dynamics
Industry Overview
The consulting industry is highly competitive and fragmented, driven by the need for specialized expertise and strategic advice. Demand is influenced by economic conditions, regulatory changes, and litigation trends.
Positioning
CRA International positions itself as a leading provider of economic, financial, and management consulting services, with a focus on providing expert testimony and strategic advice in complex situations. Its competitive advantage lies in its deep industry knowledge and the expertise of its consultants.
Total Addressable Market (TAM)
The global consulting market is estimated to be hundreds of billions of dollars. CRA International addresses segments within this market, including economic consulting, litigation support, and management consulting. The company is positioned to capture a portion of this TAM through its specialized expertise and global presence.
Upturn SWOT Analysis
Strengths
- Strong reputation for expertise
- Diversified service offerings
- Global presence
- Experienced consultants
- High-profile client base
Weaknesses
- Dependence on key personnel
- Susceptibility to economic cycles
- Intense competition
- Potential for conflicts of interest
- High operating expenses
Opportunities
- Expanding into new geographic markets
- Developing new service offerings
- Leveraging technology to enhance services
- Acquiring complementary businesses
- Increasing demand for specialized consulting services
Threats
- Economic downturns
- Increased competition
- Changes in regulations
- Loss of key personnel
- Litigation risks
Competitors and Market Share
Key Competitors
- FTI
- GLG
- EXPERT
Competitive Landscape
CRA International competes with a range of consulting firms, from large global players to smaller specialized firms. Its advantages include its deep industry knowledge and its reputation for providing expert testimony. Disadvantages include its smaller size relative to some of its competitors.
Major Acquisitions
Marakon Associates
- Year: 2013
- Acquisition Price (USD millions): 75
- Strategic Rationale: Expanded CRA's management consulting capabilities and provided access to new clients and markets.
Growth Trajectory and Initiatives
Historical Growth: CRA International has experienced steady growth over the past decade, driven by acquisitions and organic expansion.
Future Projections: Analyst estimates project continued revenue growth for CRA International, driven by demand for its specialized consulting services.
Recent Initiatives: Recent strategic initiatives include expanding into new service areas, enhancing its technological capabilities, and pursuing acquisitions to expand its market presence.
Summary
Charles River Associates is a robust consulting firm that has grown steadily through strategic acquisitions and organic growth. Its deep expertise and global presence are key strengths. However, it must manage its dependence on key personnel and navigate the competitive consulting landscape. Strong legal and economic expertise make it a high-value asset during economic uncertainty.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company Filings
- Analyst Reports
- Industry Publications
- Company Website
Disclaimers:
The information provided is for informational purposes only and should not be considered investment advice. The analysis is based on publicly available information and may be subject to change.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About CRA International Inc
Exchange NASDAQ | Headquaters Boston, MA, United States | ||
IPO Launch date 1998-04-24 | Chairman, President & CEO Mr. Paul A. Maleh | ||
Sector Industrials | Industry Consulting Services | Full time employees 937 | Website https://www.crai.com |
Full time employees 937 | Website https://www.crai.com |
CRA International, Inc., together with its subsidiaries, provides economic, financial, and management consulting services worldwide. 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 comprehensive 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 provides management consulting services, such as strategy development, performance improvement, corporate strategy and portfolio analysis, estimation of market demand, environmental, social and corporate governance and sustainability strategy and analysis, design and implementation of auction and bidding, new product pricing strategies, survey and market research, valuation of intellectual property and other assets, assessment of competitors' actions, and analysis of new sources of supply. The company serves various industries comprising blockchain and cryptocurrency; 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.

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