CRAICRA International, Inc.
Is the business good?
The checks split: nothing decisive, though profits without cash flow.
Reports an operating profit but operating cash flow is negative, a red flag. Conversion is worsening vs a year ago.
Operating profit is falling even as sales grow, costs are outrunning the top line.
A balanced mix of margins, efficiency, and leverage. ROE 26% = margin × turnover × leverage.
Unless marked, from derived.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is CRAI?
CRA International, Inc. earns 17% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
Return on invested capital · cost of capital 9.0% · 7.5 points above what the capital costs: growth creates value
- Operating margin
- 10.0%
Operating margin · Consulting Services median 10.0% · 12 months to Q2 2026
- Cash conversion
- −0.40×
Cash conversion · 0.61× a year ago · the operating profit has not turned into cash yet
- Share count, year on year
- −5.1%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2020 | 6.8% |
| FY2021 | 9.8% |
| FY2022 | 9.9% |
| FY2023 | 9.2% |
| FY2024 | 10% |
| FY2025 | 11% |
Details›
- Gross margin12 months to Q2 2026
- 29%
- Operating margin12 months to Q2 2026
- 10.0%
- Net margin12 months to Q2 2026
- 6.2%
- Free cash flow margin
- −3.5%
- Revenue, trailing twelve months
- $795M
- Free cash flow, trailing twelve months
- −$28M
- Net income, trailing twelve months
- $49M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 17%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.