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Charles River Associates

Global litigation, regulatory, and financial consulting

Overview

Charles River Associates (CRA) is a global consulting firm that specializes in litigation, regulatory, financial, and management consulting. It provides economic and financial analysis to support litigation and regulatory proceedings, helping clients make informed choices in strategy and operations. Services include expert economic testimony, financial advisory, and custom consulting for corporations, law firms, and government agencies. CRA distinguishes itself through deep functional expertise and industry knowledge applied to complex problems, supported by offices around the world. The firm’s goal is to deliver objective, high-value analysis and advice that helps clients navigate legal, regulatory, and business challenges and improve decision-making and outcomes.

Significant Headcount Growth

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About Charles River Associates

Simplify's Rating
Why Charles River Associates is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Data & AnalyticsConsultingFinancial Services

Company Size

1,001-5,000

Company Stage

IPO

Headquarters

City of Brussels, Belgium

Founded

1978

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What believers are saying

  • November 5, 2026 revenue hit $214.9 million, and guidance rose to $830-$840 million.
  • Project leads and new originations grew over 20%; utilization reached 78% in Q3.
  • Dividend rose 17.5% to $0.67, signaling confidence and rewarding employer-stability seekers.

What critics are saying

  • Third-quarter M&A value fell 41%; antitrust pipeline weakens if deal activity stays depressed.
  • August 2026 refinancing left $129.6 million net debt and stubborn cash-conversion pressure.
  • If legal and regulatory demand softens, CRA's specialized model loses its core utilization engine.

What makes Charles River Associates unique

  • CRA's 1965 Boston heritage anchors elite litigation, regulatory, and antitrust expert testimony.
  • November 2026 hires Jean-Philippe Poissant and Feng Zhu deepen disputes and digital-market credibility.
  • Nine global practices convert specialized expertise into recurring, high-margin engagements across law and corporate clients.

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Funding

Total Funding

$650M

Above

Industry Average

Funded Over

2 Rounds

Post IPO Debt funding comparison data is currently unavailable. We're working to provide this information soon!
Post IPO Debt Funding Comparison Coming Soon

Benefits

  • Wellness Program
  • Flexible Work Hours
  • Remote Work Options
  • Professional Development Budget

Stock Price

Growth & Insights and Company News

6 month growth

5%

1 year growth

6%

2 year growth

6%
BBNS
Nov 5th, 2026
Charles River Associates (NASDAQ:CRAI) releases earnings results, beats estimates by $0.12 EPS.

Charles River Associates (NASDAQ:CRAI) releases earnings results, beats estimates by $0.12 EPS. Charles River Associates (NASDAQ:CRAI - Get Free Report) announced its earnings results on Thursday. The business services provider reported $2.19 earnings per share for the quarter, topping analysts' consensus estimates of $2.07 by $0.12, FiscalAI reports. The firm had revenue of $214.92 million for the quarter, compared to the consensus estimate of $199.04 million. Charles River Associates had a return on equity of 27.31% and a net margin of 6.20%. Here are the key takeaways from Charles River Associates' conference call: * CRA posted record third-quarter revenue of $214.9 million, up 15.6% year over year, with record net income, diluted EPS and EBITDA. Seven practices grew, and Forensic Services, Life Sciences, and Risk, Investigations & Analytics each delivered double-digit revenue growth. * Management raised fiscal 2026 constant-currency revenue guidance to $830 million-$840 million, from $805 million-$820 million, and narrowed its non-GAAP EBITDA margin outlook to 12.2%-12.8%. * Weekly project lead flow and new project originations each increased more than 20% year over year; consultant utilization reached 78%, and headcount grew 6.2%. Management said it remains comfortable with mid-single-digit headcount growth for the full year, rather than guiding to high-single-digit growth. * CRA raised its quarterly dividend 17.5% to $0.67 per share, marking its tenth consecutive annual increase. The company returned $60.3 million to shareholders year to date through dividends and share repurchases. * Global M&A activity fell 41% sequentially in the third quarter, and management said it is monitoring whether the slowdown is temporary or a broader trend. CRA also expects fiscal 2026 non-cash forgivable-loan amortization expense to rise by about $15 million year over year. Charles River Associates stock up 4.2%. CRAI traded up $8.19 during trading on Thursday, hitting $202.94. 340,101 shares of the company traded hands, compared to its average volume of 110,429. Charles River Associates has a one year low of $132.17 and a one year high of $227.29. The stock's fifty day moving average is $176.36 and its 200 day moving average is $166.14. The firm has a market cap of $1.27 billion, a P/E ratio of 27.02, a price-to-earnings-growth ratio of 1.44 and a beta of 0.64. Charles River Associates increases dividend. Discover more Plan Finances Invest in Stocks The business also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Tuesday, November 24th will be given a dividend of $0.67 per share. The ex-dividend date is Tuesday, November 24th. This is an increase from Charles River Associates's previous quarterly dividend of $0.57. This represents a $2.68 annualized dividend and a yield of 1.3%. Charles River Associates's dividend payout ratio (DPR) is currently 30.36%. More Charles River Associates news. Here are the key news stories impacting Charles River Associates this week: * CRA reported fiscal third-quarter revenue of $214.9 million, above the $199.0 million consensus, and earnings of $2.19 per share, topping estimates of about $2.07. Earnings also increased from $2.06 per share a year earlier. * The company raised its FY 2026 revenue outlook to $830 million-$840 million, above the analyst consensus of $814.2 million, signaling expectations for stronger revenue than previously anticipated. * CRA increased its quarterly dividend 17.5%, from $0.57 to $0.67 per share. The new dividend equates to $2.68 annually, or a yield of about 1.3%; it is payable December 11 to shareholders of record November 24. Insider buying and selling. In other Charles River Associates news, EVP Jonathan Yellin sold 2,250 shares of Charles River Associates stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $173.25, for a total value of $389,812.50. Following the sale, the executive vice president owned 11,153 shares of the company's stock, valued at approximately $1,932,257.25. The trade was a 16.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 4.50% of the company's stock. Analyst upgrades and downgrades. Separately, Weiss Ratings upgraded Charles River Associates from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, September 25th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $245.00. Charles River Associates company profile. Charles River Associates, operating as CRA International, Inc, is a global consulting firm that provides economic, financial, and management consulting services. The company advises corporations, law firms, government agencies, and other organizations on complex business, legal, regulatory, and strategic matters. CRA's services include economic and financial analysis for litigation and regulatory proceedings, antitrust and competition consulting, corporate strategy, business performance improvement, and investigations. Receive News & Ratings for Charles River Associates Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Charles River Associates and related companies with MarketBeat.com's FREE daily email newsletter.

Yahoo Finance
Nov 3rd, 2026
CRA appoints litigation and valuation expert Jean-Philippe Poissant as Finance Practice vice president

Charles River Associates (CRA) has appointed Jean-Philippe Poissant as a vice president in its Finance Practice, the Boston-based consulting firm announced on November 3, 2026. Poissant brings nearly two decades of experience in commercial litigation. He spent 14 years at an international consulting firm, where he rose to co-head of the accounting practice and supported expert testimony in litigation and regulatory proceedings. His work also covers regulatory enforcement, financial reporting investigations, valuation, damages, forensic accounting, and corporate governance. "He is joining a talented team of CRA experts who advise clients on high-stakes commercial disputes," said Paul Maleh, president and chief executive officer. Poissant is a Certified Public Accountant and Certified Fraud Examiner. He holds an MBA from Saïd Business School at the University of Oxford.

Yahoo Finance
Oct 6th, 2026
Charles River Associates appoints Christopher Zealey as VP to expand life sciences practice

Charles River Associates (NASDAQ: CRAI) has appointed Christopher Zealey as Vice President in its Life Sciences Practice. Zealey brings expertise in cross-functional and medical strategic planning, insight generation, scientific communication strategy, and clinical positioning. Before joining CRA, Zealey was a partner at a life sciences and pharmaceutical consulting firm, where he led client engagements across strategic planning, insight generation, and medical intelligence to support product launches. His experience includes leveraging data and stakeholder perspectives to inform strategy. CRA's Life Sciences Practice works with biotech, medical device, and pharmaceutical companies, as well as law firms and regulatory agencies. The firm has been expanding its capabilities to help clients navigate complex medical affairs and launch decisions. Zealey holds an MSc in Biotechnology from McGill University and a BSc in Microbiology from the University of Waterloo.

Citybiz
Oct 1st, 2026
Charles River Associates adds Harvard professor Feng Zhu to antitrust practice.

Charles River Associates adds Harvard professor Feng Zhu to antitrust practice. October 1, 2026 Charles River Associates has added Harvard Business School professor Feng Zhu as an academic affiliate in its Antitrust & Competition Economics Practice, strengthening the consulting firm's expertise in digital markets, technology competition and regulatory economics. Zhu joins CRA while continuing his academic work at Harvard Business School, where he is the Harry E. Figgie, Jr. Professor of Business Administration. His research focuses on digital transformation, competitive strategy, business model innovation and the ways technology companies respond to changing competitive and regulatory conditions. The appointment expands CRA's capabilities as competition authorities, companies and courts increasingly confront questions involving digital platforms, artificial intelligence, software ecosystems and other technology-driven markets. Zhu's work examining the strategic behavior of large technology companies gives the firm additional academic expertise for matters where business models and market structure are closely tied to technology. "His research examines how technology-driven firms compete, evolve, and respond to regulatory dynamics," CRA President and CEO Paul Maleh said. At Harvard, Zhu leads the Platform Lab within the university's AI Institute and co-chairs the Analytics Program. He has written more than 80 articles, cases and research notes across academic and practitioner publications. His work combines academic research with direct exposure to the strategic issues facing major technology businesses. Zhu has advised business leaders at companies including Alphabet, Meta, Microsoft and Uber, according to CRA. That experience is particularly relevant to competition matters involving platform economics, where regulators and companies may need to evaluate issues such as network effects, market entry, business model changes and the competitive consequences of decisions made by large digital businesses. "Feng's recent work has focused on the strategic behavior of large technology companies and the broader economic and competitive implications of digital markets, which is of particular interest for many of our clients," said Margaret Sanderson, vice president and global practice leader of CRA's Antitrust & Competition Economics Practice. Zhu also has experience with antitrust and competition matters in China, adding expertise to CRA's China Competition Practice as the firm advises clients across multiple regulatory jurisdictions. CRA's competition economists provide economic analysis and expert testimony in antitrust and competition matters globally. The practice works across industries including technology, healthcare, energy, telecommunications, aerospace and defense, pharmaceuticals, financial services, transportation, retail and consumer products. The addition of Zhu gives the practice another resource for cases where traditional competition economics intersects with rapidly changing technology and operating models. Digital businesses can present different competitive dynamics from conventional industries because software platforms can connect multiple groups of users, scale rapidly and evolve their products and pricing models as markets develop. Zhu holds a Ph.D. in Science, Technology, and Management and a master's degree in Computer Science from Harvard University. He earned his bachelor's degree in Computer Science, Economics and Mathematics from Williams College. Boston-based Charles River Associates provides economic, financial and management consulting services, including support for litigation and regulatory proceedings as well as corporate strategy and performance matters. Founded in 1965, the firm operates offices globally. Zhu's appointment adds academic and technology-market expertise to CRA's antitrust practice as clients navigate increasingly complex questions involving digital competition, AI, platform businesses and regulatory scrutiny across international markets.

Associated Press
Oct 1st, 2026
CRA adds Harvard Business School professor to antitrust practice

Charles River Associates has appointed Harvard Business School Professor Feng Zhu as an Academic Affiliate in its Antitrust & Competition Economics Practice. Zhu is the Harry E. Figgie, Jr. Professor of Business Administration at Harvard Business School, where he leads the Platform Lab within the AI Institute and co-chairs the Analytics Programme. His research focuses on digital transformation, competitive strategy, and the strategic behaviour of large technology companies. Zhu has advised global business leaders at firms including Alphabet, Meta, Microsoft, and Uber. Margaret Sanderson, Global Practice Leader of the Antitrust & Competition Economics Practice at CRA, said Zhu's expertise combines academic research with technology business knowledge. He also brings experience in antitrust and competition matters in China.

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