Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

CRA International, Inc. (CRAI)

Company Dividend Discount ModelIndustry: Consulting ServicesSector: Industrials

Valuation Snapshot

Stable Growth$247.70 - $982.08$421.67
Multi-Stage$154.56 - $168.98$161.63
Blended Fair Value$291.65
Current Price$205.17
Upside42.15%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS12.63%0.00%1.821.601.411.221.111.000.890.730.170.00
YoY Growth--13.82%12.81%15.57%10.48%10.58%12.33%22.24%323.76%0.00%0.00%
Dividend Yield--1.05%1.07%1.31%1.43%1.47%3.19%1.76%1.39%0.49%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)56.58
(-) Cash Dividends Paid (M)13.55
(=) Cash Retained (M)43.04
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)11.327.074.24
Cash Retained (M)43.0443.0443.04
(-) Cash Required (M)-11.32-7.07-4.24
(=) Excess Retained (M)31.7235.9638.79
(/) Shares Outstanding (M)6.786.786.78
(=) Excess Retained per Share4.685.315.73
LTM Dividend per Share2.002.002.00
(+) Excess Retained per Share4.685.315.73
(=) Adjusted Dividend6.687.317.72
WACC / Discount Rate8.35%8.35%8.35%
Growth Rate5.50%6.50%7.50%
Fair Value$247.70$421.67$982.08
Upside / Downside20.73%105.52%378.66%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)56.5860.2664.1868.3572.7977.5279.85
Payout Ratio23.94%37.15%50.37%63.58%76.79%90.00%92.50%
Projected Dividends (M)13.5522.3932.3243.4655.9069.7773.86

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.35%8.35%8.35%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)20.4720.6720.86
Year 2 PV (M)27.0227.5428.06
Year 3 PV (M)33.2134.1735.14
Year 4 PV (M)39.0640.5642.11
Year 5 PV (M)44.5846.7348.97
PV of Terminal Value (M)882.84925.48969.76
Equity Value (M)1,047.191,095.151,144.89
Shares Outstanding (M)6.786.786.78
Fair Value$154.56$161.63$168.98
Upside / Downside-24.67%-21.22%-17.64%

High-Yield Dividend Screener

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