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CRAI

CRA International Inc. Common Stock (CRAI) fair value

Industrials · Consulting Services · NASDAQ · United States
$200.14-0.40%
Market cap $1.3BNext earnings 2026-11-05Updated Oct 24, 2026
Add earnings to calendarGoogle
Our verdict
Trades 43% above our fair value
Price
$200.14
Model fair valueConfidence: good
$140
Model range
$78.88 to $185
Fair value $140
Price $200
4 models fit CRA International Inc. Common Stock and they disagree: 0 of 4 land within 15% of the average. The price is above every model.
Two or more of our models back this value.
Large premium(i)Bronze55
Valued as a mature, profitable company: Discounted cash flow, P/E comparison, EV/EBITDA comparison, Graham number, and Dividend discount.
ACCE opinionCRA International Inc. Common Stock (CRAI)
Fair value (4 models)
$140
ACCE price target
$187
Rating
Overvalued
Horizon
12 months
Fair value published on 24 Oct 2026, 17:04 CEST; previously $163 since 12 Oct 2026, 00:00 CEST.
ACCE price target published on 13 Oct 2026, 00:00 CEST.
Rating published on 24 Oct 2026, 17:04 CEST.
Price used: $200 at the close on 23 Oct 2026, 22:00 CEST.
Models: Discounted cash flow, P/E comparison, EV/EBITDA comparison, and Graham number.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Full methodology
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
Price vs fair value
43.4% above
-30.3% to fair value
ACCE score
70
out of 100
Analysts
50% buy
2 covering
P/E
26.8x
forward 17.0x
1-year return
+6.4%
Dividend yield
1.20%

CRA International Inc. Common Stock in four questions

Plain answers, details below
Free accounts get 5 full stock pages a month, including the four answers.
OverviewAsk ACCEValuationQualityAnalystsSmart MoneyCompareNews and Record

Overview

ACCE thesis

CRA International sells economic consulting and expert testimony, mostly to law firms and corporate counsel in antitrust, securities, and commercial litigation, plus regulatory work for energy and healthcare clients. Its edge is a bench of PhD economists and former regulators who can carry a testimony through deposition and trial, a business that tends to renew around case cycles rather than annual budgets. Revenue growth of 12.8% and a 26.0% return on equity are strong for a consulting firm with an 11.2% operating margin, and the stock trades at 17.0 times forward earnings against 23.6 times trailing, so the market is pricing in continued earnings growth. The thesis rests on whether antitrust and regulatory dockets stay busy enough to keep utilization and billing rates rising, and whether the company can convert that demand into margin expansion from its 29.0% gross margin. At a roughly $1.1 billion market cap with no index membership, the name is small enough that a position could be built without moving the price, and it merits a deeper look at utilization trends and headcount before going further.

AI-assisted·How I use AIWritten Oct 18, 2026
⚠ Investor warnings · 1 flagAI-assisted·How I use AI
  • moderate
    Thin free cash flow
    FCF of $19M against net income implied by a 6.2% net margin on revenue leaves little cushion. Cash conversion is weak for a company with 26.0% ROE and a 0.60 debt/equity ratio.

AI research notes

AI-assisted·How I use AIWritten Oct 21, 2026 · figures from 2026-06-30 · prices to Oct 23, 2026
Why it could do well
  • Revenue grew 12.8% year over year, well ahead of its 8.1% five-year average pace.
  • Return on equity of 26.0% and a 2.8% cut in diluted share count show management returning value to owners.
  • Analysts' mean price target of $250.50 sits 39.3% above the current share price.
Why it could disappoint
  • Free cash flow of $19M is only a 1.6% yield on the share price, thin for a company this size.
  • Only 1 of 2 analysts rates the stock Buy or Strong Buy, a thin base for the bullish target.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.

Next results

Nov 5, 2026
We update the fair value about 2 days after the results, once the new figures are filed.Add to calendarGoogle

Walk me through this stock

Plain-English pros, cons, and what to watch. Pro feature.

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Valuation

INVESTOR
Where CRAI's valuation models land
Price
$200.14
Model fair value
$140
Model range
$78.88 to $185
Fair value $140
Price $200
The price is above the whole model range.
Model
Fair value
Upside
Discounted cash flow
Dividend discount
EV/EBITDA comparison
Graham number
P/E comparison
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Quality

INVESTOR
Quality and conviction INVESTOR FEATURE

The full quality picture: a reason under every score, how the scores moved, and the conviction breakdown.

  • +A plain reason under every score
  • +Conviction breakdown and growth / value / quality / momentum scores
  • +Score history: how each score moved over time

Analysts

Wall Street consensus

Mixed50% buy · 2 covering analysts
● Strong buy 0● Buy 1● Hold 1● Sell 0● Strong sell 0
Analyst intelligence INVESTOR FEATURE

The full analyst picture: the price-target distribution against the current price, forward consensus estimates, and how ACCE's own models compare.

  • +Price-target low / average / high vs the current price, with implied upside
  • +Forward revenue and EPS consensus by fiscal year
  • +ACCE fair-value models lined up against the Street

Smart Money

PRO

In one line

Trades are only made public after a delay. We show the delay so you know how old the news is.

Company insiders
No trades filed
Last 90 days
Congress
No trades filed
Last 180 days
Average delay
No trades filed
From trade to public filing
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Smart money tracking PRO FEATURE

Follow the informed money: 13F position changes, insider and Congress trades, and 13D activist filings.

  • +Quarter-over-quarter institutional position changes
  • +Every insider and Congress trade, with how late it was disclosed
  • +Active 13D activist filings and top holders

Compare

Where it sits vs peers

News and Record

Press releases mentioning this company

Recent performance

1 week
+12.4%
1 month
+23.5%
3 months
+17.9%
6 months
+32.9%
YTD
-0.3%
1 year
+6.4%

SEC filings

Recommendation history, last 12 months

DateTypeNewPreviousPrice
24 Oct 2026, 17:04 CESTFair value$140$163$200
24 Oct 2026, 17:04 CESTRatingOvervaluedfirst publication$200
13 Oct 2026, 00:00 CESTACCE price target$187first publication$177
12 Oct 2026, 00:00 CESTFair value$163$141$177
28 Sept 2026, 00:00 CESTFair value$141$143$162
26 Sept 2026, 00:00 CESTFair value$143$140$163
23 Sept 2026, 00:00 CESTFair value$140$142$162
10 Sept 2026, 00:00 CESTFair value$142$145$168
7 Sept 2026, 00:00 CESTFair value$145$148$171
4 Sept 2026, 00:00 CESTFair value$148$150$171

This analysis is not personalised investment advice and does not take your situation, objectives or risk tolerance into account. ACCE Investments is not an authorised investment firm.

Investing in shares carries a risk of losing capital. The value of an investment can go down as well as up.

Valuation horizon: 12 months from the publication date.

Conflicts of interest. ACCE Investments is operated by Adrien Chantreuil, who may hold personal positions in the securities analysed. Positions are declared on each security. ACCE receives no payment from the companies analysed or from any intermediary for this analysis.

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Snapshot

Growth68Value55Quality74Momentum83Total70
Valuation
Trailing P/E
26.8x
Forward P/E
17.0x
PEG
1.53
P/B
5.60x
EV / Revenue
1.6x
Book value/sh
$29.07
Enterprise value
$1.3B
Profitability
ROE
26.0%
FCF yield
1.47%
ROIC
13.2%
Health and risk
Debt / equity
0.60
Dividend yield
1.20%
Beta
0.69

Price

+6.3% · 1Y

Ask anything about CRAI

Answered from CRA International Inc. Common Stock fundamentals + recent valuations. Every number shows its source and date.

This stock Peer Peer median weaker → stronger
P/Ebetter than 33% of peers
low 8.8x26.8xhigh 47.2x
ROEbetter than 83% of peers
low 6%26%high 27%
Div yieldbetter than 67% of peers
low 0.0%1.2%high 5.4%

Peers

Prices Oct 23, 2026
CompanyPriceFair valuevs fair valueP/EROEQualityScore
CRAI CRA International Inc. Common Stock$200.14$14043% above26.8x26.0%7470
IPS.PA Ipsos SA€35.30€6042% below8.8x11.9%6762
ICFI ICF International Inc. Common Stock$94.40$10611% below18.8x8.6%5663
SBC SBC Medical Group Holdings Incorporated Common Stock$5.28$618% below11.2x18.9%9589
HURN Huron Consulting Group Inc. Common Stock$195.69$14634% above28.0x26.9%6977
BTS-B.ST BTS Group AB (publ)kr 231.00--47.2x6.3%6061
FCN FTI Consulting Inc. Common Stock$157.24$1665% below18.9x15.6%6450

Sector report card

Where CRAI ranks against its sector peers on each metric.

Computing percentiles…
  • Business Wire•Oct 6, 2026
    Charles River Associates (CRA) Bolsters Life Sciences Practice with Appointment of Christopher Zealey as Vice President
  • Business Wire•Oct 1, 2026
    Charles River Associates (CRA) Adds Harvard Business School Professor as Academic Affiliate to Antitrust & Competition Economics Practice
  • Business Wire•Sep 29, 2026
    Charles River Associates (CRA) Names Patrick Hillan Vice President, Expanding Life Sciences Commercial Strategy Expertise
7 more press releases · full archive on Investor+.INVESTOR
40 filings
September 2026
Sep 16
Form 4Insider transactionPeriod 2026-09-14
View on SEC →
Sep 16
Form 4Insider transactionPeriod 2026-09-14
View on SEC →
Sep 16
Form 4Insider transactionPeriod 2026-09-14
View on SEC →
37 more filings + AI summaries on Investor+.INVESTOR