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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 guide 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. The company was incorporated in 1965 and is headquartered in Boston, Massachusetts.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $752M | $111M | $55M | $19M | 25.6% | 9.3% | 17.4% |
| 2024 | $687M | $97M | $47M | $33M | 22.0% | 10.2% | 21.2% |
| 2023 | $624M | $82M | $38M | $58M | 18.1% | 5.6% | -11.8% |
| 2022 | $591M | $86M | $44M | $21M | 20.7% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 590.90 | 623.98 | 687.41 | 751.58 |
| Operating Revenue | - | 590.90 | 623.98 | 687.41 | 751.58 |
| Cost Of Revenue | - | 410.08 | 439.75 | 479.94 | 519.29 |
| Gross Profit | - | 180.82 | 184.22 | 207.48 | 232.30 |
| Operating Expense | - | 122.08 | 126.68 | 136.73 | 149.17 |
| Selling General And Administration | - | 110.09 | 115.12 | 125.05 | 135.03 |
| Total Expenses | - | 532.16 | 566.43 | 616.66 | 668.46 |
| Operating Income | - | 58.74 | 57.54 | 70.75 | 83.12 |
| Total Operating Income As Reported | - | 58.74 | 57.54 | 70.75 | 83.12 |
| EBITDA | - | 86.38 | 81.94 | 97.48 | 111.44 |
| Normalized EBITDA | - | 84.49 | 83.38 | 97.58 | 112.63 |
| EBIT | - | 60.63 | 56.10 | 70.66 | 81.93 |
| Interest Expense | - | 1.83 | 3.81 | 4.42 | 5.36 |
| Net Interest Income | - | -1.83 | -3.81 | -4.42 | -5.36 |
| Other Income Expense | - | 1.89 | -1.44 | -0.09 | -1.19 |
| Interest Expense Non Operating | - | 1.83 | 3.81 | 4.42 | 5.36 |
| Net Non Operating Interest Income Expense | - | -1.83 | -3.81 | -4.42 | -5.36 |
| Pretax Income | - | 58.80 | 52.29 | 66.24 | 76.57 |
| Tax Provision | - | 15.18 | 13.81 | 19.59 | 21.79 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0.49 | -0.38 | -0.03 | -0.34 |
| Net Income Continuous Operations | - | 43.62 | 38.48 | 46.65 | 54.78 |
| Net Income From Continuing And Discontinued Operation | - | 43.62 | 38.48 | 46.65 | 54.78 |
| Net Income From Continuing Operation Net Minority Interest | - | 43.62 | 38.48 | 46.65 | 54.78 |
| Net Income | - | 43.62 | 38.48 | 46.65 | 54.78 |
| Net Income Common Stockholders | - | 43.45 | 38.34 | 46.53 | 54.68 |
| Net Income Including Noncontrolling Interests | - | 43.62 | 38.48 | 46.65 | 54.78 |
| Normalized Income | - | 42.22 | 39.54 | 46.72 | 55.64 |
| Diluted NI Availto Com Stockholders | - | 43.45 | 38.34 | 46.53 | 54.68 |
| Basic Average Shares | - | 7.22 | 7.01 | 6.82 | 6.64 |
| Diluted Average Shares | - | 7.36 | 7.12 | 6.91 | 6.71 |
| Reconciled Depreciation | - | 25.75 | 25.84 | 26.82 | 29.51 |
| Reconciled Cost Of Revenue | - | 396.33 | 425.48 | 464.79 | 503.92 |
| Total Unusual Items | - | 1.89 | -1.44 | -0.09 | -1.19 |
| Total Unusual Items Excluding Goodwill | - | 1.89 | -1.44 | -0.09 | -1.19 |
| Gain On Sale Of Security | - | 1.89 | -1.44 | -0.09 | -1.19 |
| Depreciation Amortization Depletion Income Statement | - | 12 | 11.56 | 11.68 | 14.14 |
| Depreciation And Amortization In Income Statement | - | 12 | 11.56 | 11.68 | 14.14 |
| Otherunder Preferred Stock Dividend | - | 0.17 | 0.14 | 0.13 | 0.10 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| CRA International, Inc.this co. | CRAI | $921M | 16.85↓ discount | 4.31 | 25.6% | 9.25 |
| Cardinal Infrastructure Group Inc. | CDNL | $967M | 42.62 | 16.54 | 38.8% | 13.93 |
| Resolute Holdings Management, Inc. | RHLD | $966M | -163.07 | 148.07 | -90.8% | 6.35 |
| Eastman Kodak Company | KODK | $950M | -7.42 | 1.55 | -20.8% | -41.08 |
| Aebi Schmidt Holding AG | AEBI |
| - |
| - |
| - |
| - |
| - |
| $942M |
| 96.77 |
| 1.16 |
| 1.2% |
| 16.49 |
| National Presto Industries, Inc. | NPK | $939M | 28.38 | 2.38 | 8.4% | 20.15 |
| Power Solutions International, Inc. | PSIX | $926M | 8.13 | 5.19 | 63.8% | 8.99 |
| Sun Country Airlines Holdings, Inc. | SNCY | $876M | 16.59 | 1.40 | 8.4% | 6.43 |
| Transcat, Inc. | TRNS | $871M | 161.88 | 2.90 | 1.8% | 25.78 |
| Peer Median | - | 22.49 | 2.64 | 5.1% | 11.46 | |