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CRA International Inc (CRAI)


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Upturn Advisory Summary
10/21/2025: CRAI (1-star) is currently NOT-A-BUY. Pass it for now.
1 Year Target Price $244
1 Year Target Price $244
0 | Strong Buy |
1 | Buy |
1 | Hold |
0 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 12.63% | Avg. Invested days 44 | Today’s Advisory PASS |
Upturn Star Rating ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 1.20B USD | Price to earnings Ratio 22.13 | 1Y Target Price 244 |
Price to earnings Ratio 22.13 | 1Y Target Price 244 | ||
Volume (30-day avg) 2 | Beta 0.89 | 52 Weeks Range 151.39 - 214.66 | Updated Date 10/21/2025 |
52 Weeks Range 151.39 - 214.66 | Updated Date 10/21/2025 | ||
Dividends yield (FY) 1.05% | Basic EPS (TTM) 8.27 |
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 - | When - | Estimate - | Actual - |
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 22.13 | Forward PE 22.83 | Enterprise Value 1501897366 | Price to Sales(TTM) 1.69 |
Enterprise Value 1501897366 | Price to Sales(TTM) 1.69 | ||
Enterprise Value to Revenue 2.11 | Enterprise Value to EBITDA 13.35 | Shares Outstanding 6584093 | Shares Floating 6329223 |
Shares Outstanding 6584093 | Shares Floating 6329223 | ||
Percent Insiders 3.87 | Percent Institutions 91.89 |
Upturn AI SWOT
CRA International Inc

Company Overview
History and Background
CRA International, Inc., founded in 1965 as Charles River Associates, is a global consulting firm. Initially focused on economics, it has expanded to offer a broader range of services, including management consulting and technology consulting, growing through acquisitions and organic expansion.
Core Business Areas
- Management Consulting: Provides strategy, operations, and performance improvement services to corporations, private equity firms, and government entities.
- Antitrust & Competition Economics: Offers economic analysis and expert testimony in antitrust and competition matters.
- Forensic Services: Provides litigation support, forensic accounting, and fraud investigation services.
- Energy: Provides consulting services to the energy sector.
Leadership and Structure
The company is led by its President and Chief Executive Officer, Paul Maleh. CRA International operates with a structure of senior management overseeing various consulting practices, supported by a board of directors.
Top Products and Market Share
Key Offerings
- Expert Testimony: Provides expert witness testimony in litigation and regulatory proceedings. Market share is difficult to pinpoint exactly but is a substantial portion of the economic expert witness market, competing with firms like FTI Consulting and Deloitte. Revenue from this offering is significant, estimated in the hundreds of millions annually.
- Management Consulting Services: Offers strategic advice to businesses. Market share is fragmented, competing with large firms like McKinsey and BCG. This segment contributes significantly to CRA's total revenue.
- Forensic Accounting: Offers forensic investigation and accounting expertise. Market share is competitive, with players such as AlixPartners and Kroll. This service also generates a notable portion of CRA's revenue.
Market Dynamics
Industry Overview
The consulting industry is dynamic, driven by factors such as technological advancements, globalization, and regulatory changes. Demand for expert services in litigation and regulatory matters remains strong.
Positioning
CRA International is positioned as a specialist consultancy, particularly strong in economics and regulatory expertise, setting it apart from broader management consulting firms. This allows CRA to compete on specialist knowledge that would be more expensive at other companies.
Total Addressable Market (TAM)
The global management consulting market is estimated to be hundreds of billions of dollars annually. CRA's TAM is within the segments it operates (economic consulting, forensic services, etc.), which is substantial. CRA captures a moderate portion of its addressable market due to its specialist position.
Upturn SWOT Analysis
Strengths
- Strong reputation for expertise in economics and regulatory matters
- Experienced consultants and expert witnesses
- Diversified client base
- Established brand recognition
- Global presence
Weaknesses
- Reliance on key personnel
- Potential for conflicts of interest
- Exposure to litigation risk
- Smaller scale compared to major management consulting firms
- Specialized focus may limit growth opportunities
Opportunities
- Expanding into new geographic markets
- Leveraging technology for consulting services
- Growing demand for forensic accounting and litigation support
- Increasing complexity of regulatory environments
- Strategic acquisitions to broaden service offerings
Threats
- Economic downturns affecting client spending
- Increased competition from larger consulting firms
- Changes in regulations impacting demand for services
- Loss of key personnel
- Reputational damage from litigation or ethical breaches
Competitors and Market Share
Key Competitors
- FTI Consulting (FCN)
- Navigant Consulting (now Guidehouse, private)
- AlixPartners (private)
Competitive Landscape
CRA International competes with larger consulting firms, differentiating itself through its specialized expertise in economics, regulatory matters, and forensic services. While larger firms offer breadth, CRA offers specialist depth.
Major Acquisitions
Marakon
- Year: 2018
- Acquisition Price (USD millions):
- Strategic Rationale: Strengthened CRA's strategy consulting capabilities.
Growth Trajectory and Initiatives
Historical Growth: CRA International has experienced steady growth through organic expansion and strategic acquisitions.
Future Projections: Analyst estimates suggest continued moderate growth, driven by demand for specialized consulting services.
Recent Initiatives: Recent initiatives often include acquisitions of specialized consulting firms and investments in technology-enabled solutions.
Summary
CRA International is a reputable global consulting firm with a strong focus on economics and regulatory expertise. While smaller than major management consulting firms, its specialization provides a competitive advantage in niche markets. Consistent growth and strategic acquisitions suggest a positive trajectory, but it must navigate competition and economic uncertainties.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company Website
- SEC Filings
- Analyst Reports
- Industry Research Reports
Disclaimers:
This analysis is based on publicly available information and is not financial advice. Market share data is estimated and may not be precise. Financial metrics are illustrative and would need to be updated with current data.
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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