A Business at a Glance
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CHARLES RIVER LABORATORIES INTERNATIONAL, INC.
CRL
$11.2B
Mkt Cap
$226.58
-1.18%
CHARLES RIVER LABORATORIES INTERNATIONAL, INC. (CRL) has a 5-year average return on invested capital (ROIC) of 6.3%. This is below average and may indicate limited pricing power.
CHARLES RIVER LABORATORIES INTERNATIONAL, INC. (CRL) has a market capitalization of $10.9B. It is classified as a large-cap stock.
CHARLES RIVER LABORATORIES INTERNATIONAL, INC. (CRL) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 1.98%.
CHARLES RIVER LABORATORIES INTERNATIONAL, INC. (CRL) operates in the Services-Commercial Physical & Biological Research industry, within the Industrials sector.
CHARLES RIVER LABORATORIES INTERNATIONAL, INC. (CRL) reported annual revenue of $4.0 billion in its most recent fiscal year, based on SEC EDGAR filings.
CHARLES RIVER LABORATORIES INTERNATIONAL, INC. (CRL) has a net profit margin of -3.6%. The company is currently unprofitable.
Charles River Laboratories is a leading, full-service non-clinical global drug development partner operating through three reportable segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Solutions. The RMS segment supplies purpose-bred research models, including over 140 different stocks and strains of rodents and large research models, along with related services supporting drug discovery and development, and operates the Insourcing Solutions business including CRADL facilities across North America, Europe, and Asia. The DSA segment is the largest provider of outsourced drug discovery, non-clinical development, and regulated safety testing services worldwide, serving pharmaceutical companies, biotechnology firms, and other entities seeking to reduce fixed costs and access specialized scientific expertise across multiple therapeutic modalities including cell and gene therapies, small and large molecule pharmaceuticals, and vaccines. The Manufacturing segment comprises Microbial Solutions, which provides quality control testing platforms including Endosafe, Celsis, and Accugenix, and Biologics Solutions, which supports the production and release of commercial therapies. The company operates over 120 sites across more than 20 countries, serving major global pharmaceutical companies, biotechnology firms, academic institutions, government agencies, and other commercial entities; the business model is asset-light and outsourcing-focused, with clients outsourcing to reduce costs and access expertise, while the company generates revenue through service delivery and product sales. In 2025, total revenue was $4.0 billion, with RMS representing 21.1%, DSA representing 59.8%, and Manufacturing representing the remainder, supported by approximately 16,000 employees including over 1,870 science professionals with advanced degrees.
【Strategic efficiency and margin expansion】 Management expects to generate at least $100 million in incremental cost savings in 2026 above 2025 levels, with cumulative annualized cost savings exceeding $300 million from actions taken over recent years, driving meaningful operating margin expansion of approximately 120–150 basis points in 2026 with most benefit in the second half. The company is pursuing strategic acquisitions and divestitures, including the completed acquisition of K.F. Cambodia to internally source most future non-human primate supply requirements for the DSA segment, which is expected to generate significant NHP sourcing cost reductions and margin improvement, while planned divestitures of certain European discovery sites and other non-core businesses are expected to contribute approximately $0.10 per share in accretion for the partial year 2026. DSA demand environment is expected to remain solid with a net book-to-bill of 1.04x in the first quarter and cautious optimism for average net book-to-bill around 1x for the year, supporting potential return to organic revenue growth in the second half, while the company continues to advance New Approach Methodologies capabilities and expects AI and lab automation investments by clients to gradually enhance the speed and efficiency of early discovery processes over time.
| Metric | Target | Period |
|---|---|---|
| Organic revenue | down 0.5%-1.5% | FY2026 |
| Non-GAAP earnings per share | $10.80-$11.30 | FY2026 |
| Operating margin expansion | approximately 120 basis points-150 basis points | FY2026 |
| Free cash flow | $375 million-$400 million | FY2026 |
| Net interest expense | $103 million-$108 million | FY2026 |
| Incremental cost savings | at least $100 million | FY2026 |
Organic revenue (FY2026): “We continue to expect an organic revenue decline of 0.5%-1.5%”
Non-GAAP earnings per share (FY2026): “non-GAAP earnings per share of $10.80-$11.30 or 5%-10% growth over 2025”
Operating margin expansion (FY2026): “we continue to expect to generate significant operating margin expansion of approximately 120 basis points-150 basis points in 2026”
Free cash flow (FY2026): “Our free cash flow outlook remains unchanged at $375 million-$400 million in 2026”
Net interest expense (FY2026): “our net interest expense outlook has increased by approximately $8 million to a range of $103 million-$108 million”
“we expect to generate at least $100 million in incremental cost savings this year above the 2025 levels”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 4.0B | 4.0B | 4.0B | 4.1B | 4.0B | 3.5B |
| Net Income | -185M | -144M | 10M | 475M | 486M | 391M |
| EPS | $-3.76 | $-2.91 | $0.20 | $9.22 | $9.48 | $7.60 |
| Free Cash Flow | 391M | 518M | 502M | 365M | 295M | 532M |
| ROIC | 1.0% | 0.5% | 2.3% | 8.6% | 9.5% | 10.8% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.91 | 0.83 | 0.80 | 0.87 | 1.06 | 1.16 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 70M | 25M | 227M | 617M | 651M | 590M |
| Operating Margin | 1.7% | 0.6% | 5.6% | 14.9% | 16.4% | 16.7% |
| ROE | -6.3% | -4.4% | 0.3% | 14.4% | 17.6% | 16.8% |
| Shares Outstanding | 48M | 50M | 51M | 51M | 51M | 51M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 1.3B | 1.4B | 1.7B | 1.9B | 2.3B | 2.6B | 2.9B | 3.5B | 4.0B | 4.1B | 4.0B | 4.0B | 4.0B |
| Gross Margin | 79.5% | 44.4% | 44.1% | 44.6% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 269M | 300M | 365M | 371M | 444M | 518M | 529M | 620M | 665M | 748M | 751M | 743M | 725M |
| EBIT | 178M | 206M | 238M | 288M | 331M | 351M | 433M | 590M | 651M | 617M | 227M | 25M | 70M |
| Op. Margin | 13.7% | 15.1% | 14.1% | 15.5% | 14.6% | 13.4% | 14.8% | 16.7% | 16.4% | 14.9% | 5.6% | 0.6% | 1.7% |
| Net Income | 127M | 149M | 155M | 123M | 226M | 252M | 364M | 391M | 486M | 475M | 10M | -144M | -185M |
| Net Margin | 9.8% | 11.0% | 9.2% | 6.6% | 10.0% | 9.6% | 12.5% | 11.0% | 12.2% | 11.5% | 0.3% | -3.6% | -4.6% |
| Non-Recurring | 10.0M | 8.0M | 18M | 4.8M | 9.6M | 14M | 13M | 32M | 132M | 29M | 321M | 268M | 108M |
| Returns on Capital | |||||||||||||
| ROIC | 11.0% | 12.0% | 9.9% | 8.9% | 11.0% | 9.5% | 9.7% | 10.8% | 9.5% | 8.6% | 2.3% | 0.5% | 1.0% |
| ROE | 19.3% | 21.3% | 19.7% | 13.1% | 19.2% | 17.1% | 19.4% | 16.8% | 17.6% | 14.4% | 0.3% | -4.4% | -6.3% |
| ROA | 7.2% | 7.6% | 6.5% | 4.4% | 6.7% | 5.9% | 7.2% | 6.2% | 6.6% | 6.0% | 0.1% | -2.0% | -2.4% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 252M | 307M | 317M | 318M | 441M | 481M | 547M | 761M | 620M | 684M | 735M | 738M | 607M |
| Free Cash Flow | 195M | 244M | 262M | 236M | 301M | 340M | 380M | 532M | 295M | 365M | 502M | 518M | 391M |
| Owner Earnings | 125M | 172M | 147M | 143M | 232M | 226M | 255M | 424M | 242M | 298M | 303M | 263M | 177M |
| CapEx | 57M | 63M | 55M | 82M | 140M | 141M | 167M | 229M | 325M | 319M | 233M | 219M | 216M |
| Maint. CapEx | 96M | 95M | 127M | 131M | 162M | 198M | 235M | 266M | 304M | 314M | 362M | 403M | 350M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 21M | 4.4M | 0 | 0 | 0 |
| D&A | 96M | 95M | 127M | 131M | 162M | 198M | 235M | 266M | 304M | 314M | 362M | 403M | 350M |
| CapEx/OCF | 22.6% | 21.9% | 17.4% | 25.9% | 31.7% | 29.2% | 30.5% | 30.1% | 52.4% | 46.6% | 31.7% | 29.7% | 35.5% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 122M | 117M | 12M | 107M | 14M | 18M | 24M | 41M | 39M | 24M | 119M | 361M | 216M |
| Buyback Yield | 4.0% | 3.1% | 0.3% | 2.0% | 0.3% | 0.2% | 0.2% | 0.2% | 0.4% | 0.2% | 1.2% | 3.6% | 2.0% |
| Stock-Based Comp | 31M | 40M | 44M | 44M | 47M | 57M | 56M | 71M | 74M | 72M | 70M | 71M | 80M |
| Debt Repayment | 195M | 417M | 657M | 372M | 2.2B | 3.1B | 2.2B | 6.2B | 2.9B | 852M | 1.5B | 1.3B | 1.3B |
| Balance Sheet | |||||||||||||
| Net Debt | 567M | 698M | 1.1B | 928M | 1.6B | 1.8B | 1.9B | 2.7B | 2.9B | 2.8B | 2.5B | 2.4B | 2.5B |
| Cash & Equiv. | 160M | 118M | 118M | 164M | 195M | 238M | 228M | 241M | 234M | 277M | 195M | 214M | 195M |
| Long-Term Debt | 722M | 821M | 1.2B | 1.1B | 1.6B | 1.8B | 1.9B | 2.7B | 2.7B | 2.6B | 2.2B | 2.1B | 2.7B |
| Debt/Equity | 1.12 | 1.14 | 1.45 | 1.07 | 1.33 | 1.24 | 1.02 | 1.16 | 1.06 | 0.87 | 0.80 | 0.83 | 0.91 |
| Interest Coverage | 14.9 | 13.7 | 8.6 | 9.7 | 5.2 | 5.8 | 5.0 | 8.0 | 11.0 | 4.5 | 1.8 | 0.2 | 282.7 |
| Equity | 672M | 733M | 837M | 1.0B | 1.3B | 1.6B | 2.1B | 2.5B | 3.0B | 3.6B | 3.5B | 3.2B | 2.9B |
| Total Assets | 1.9B | 2.1B | 2.7B | 2.9B | 3.9B | 4.7B | 5.5B | 7.0B | 7.6B | 8.2B | 7.5B | 7.1B | 7.7B |
| Total Liabilities | 1.2B | 1.3B | 1.9B | 1.9B | 2.5B | 3.0B | 3.3B | 4.4B | 4.6B | 4.5B | 4.0B | 3.9B | 4.7B |
| Intangibles | 179M | 281M | 394M | 370M | 611M | 689M | 788M | 1.1B | 955M | 864M | 723M | 340M | 249M |
| Retained Earnings | -139M | 11M | 165M | 289M | 42M | 280M | 625M | 981M | 1.4B | 1.9B | 1.8B | 1.4B | 1.4B |
| Working Capital | 285M | 247M | 227M | 363M | 340M | 311M | 361M | 241M | 347M | 554M | 409M | 327M | 395M |
| Current Assets | 579M | 559M | 657M | 827M | 898M | 1.0B | 1.2B | 1.3B | 1.4B | 1.6B | 1.4B | 1.4B | 1.5B |
| Current Liabilities | 295M | 312M | 430M | 464M | 558M | 710M | 840M | 1.0B | 1.1B | 1.1B | 994M | 1.1B | 1.1B |
| Per Share Data | |||||||||||||
| EPS | 2.66 | 3.13 | 3.23 | 2.54 | 4.62 | 5.07 | 7.20 | 7.60 | 9.48 | 9.22 | 0.20 | -2.91 | -3.76 |
| Owner EPS | 2.62 | 3.60 | 3.06 | 2.94 | 4.74 | 4.54 | 5.05 | 8.24 | 4.72 | 5.78 | 5.88 | 5.31 | 3.67 |
| Book Value | 14.11 | 15.37 | 17.46 | 21.52 | 26.89 | 32.88 | 41.79 | 49.27 | 58.03 | 69.87 | 67.23 | 63.80 | 61.05 |
| Cash Flow/Share | 5.29 | 6.43 | 6.61 | 6.55 | 9.00 | 9.68 | 10.80 | 14.79 | 12.08 | 13.29 | 14.27 | 14.87 | 3.43 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 47.6M | 47.7M | 47.9M | 48.6M | 49.0M | 49.7M | 50.6M | 51.4M | 51.3M | 51.5M | 51.5M | 49.6M | 48.2M |
| Valuation | |||||||||||||
| P/E Ratio | 24.2 | 25.5 | 23.4 | 43.2 | 24.2 | 30.0 | 34.3 | 48.9 | 22.7 | 25.9 | 930.8 | N/A | -60.3 |
| P/FCF | 15.7 | 15.6 | 13.8 | 22.6 | 18.2 | 22.2 | 32.9 | 36.0 | 37.4 | 33.6 | 19.1 | 19.5 | 27.9 |
| EV/EBIT | 20.0 | 21.5 | 19.6 | 21.4 | 20.5 | 26.0 | 32.9 | 36.6 | 21.0 | 24.0 | 52.4 | 486.6 | 190.2 |
| Price/Book | 4.6 | 5.2 | 4.3 | 5.1 | 4.2 | 4.6 | 5.9 | 7.5 | 3.7 | 3.4 | 2.8 | 3.2 | 3.7 |
| Price/Sales | 2.1 | 2.5 | 2.3 | 2.5 | 2.5 | 2.6 | 3.3 | 5.1 | 3.2 | 2.6 | 2.8 | 2.0 | 2.7 |
| FCF Yield | 6.4% | 6.4% | 7.2% | 4.4% | 5.5% | 4.5% | 3.0% | 2.8% | 2.7% | 3.0% | 5.2% | 5.1% | 3.6% |
| Market Cap | 3.1B | 3.8B | 3.6B | 5.3B | 5.5B | 7.6B | 12.5B | 19.1B | 11.0B | 12.3B | 9.6B | 10.1B | 10.9B |
| Avg. Price | 58.17 | 72.72 | 79.15 | 96.88 | 116.13 | 134.61 | 188.23 | 352.99 | 248.61 | 206.87 | 216.49 | 160.10 | 226.58 |
| Year-End Price | 64.29 | 79.70 | 75.60 | 109.74 | 111.72 | 151.93 | 247.17 | 371.96 | 215.04 | 238.78 | 186.16 | 203.66 | 226.58 |
CHARLES RIVER LABORATORIES INTERNATIONAL, INC. passes 2 of 9 quality checks, indicating weak fundamentals.
On a free-cash-flow basis, the stock trades at 21.5x vs a median of 22.4x. The company's 5-year average ROIC is 6.3%. Total shareholder yield (buybacks) is 2.0%. At current prices, the estimated annualized return to fair value is +5.9%.
CHARLES RIVER LABORATORIES INTERNATIONAL, INC. (CRL) generated $518 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
CHARLES RIVER LABORATORIES INTERNATIONAL, INC. (CRL) has a debt-to-equity ratio of 0.83. This indicates moderate leverage.
CHARLES RIVER LABORATORIES INTERNATIONAL, INC. (CRL) reported earnings per share (EPS) of $-2.91 in its most recent fiscal year.
CHARLES RIVER LABORATORIES INTERNATIONAL, INC. (CRL) has a return on equity (ROE) of -4.4%. A negative ROE may indicate losses or negative equity.
The Ledger Terminal provides 18 years of financial data for CHARLES RIVER LABORATORIES INTERNATIONAL, INC. (CRL), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
CHARLES RIVER LABORATORIES INTERNATIONAL, INC. (CRL) has a book value per share of $63.80, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects to generate at least $100 million in incremental cost savings in 2026 above 2025 levels, with cumulative annualized cost savings exceeding $300 million from actions taken over recent years, driving meaningful operating margin expansion of approximately 120–150 basis points in 2026 with most benefit in the second half. The company is pursuing strategic acquisitions and divestitures, including the completed acquisition of K.F. Cambodia to internally source most future non-human primate supply requirements for the DSA segment, which is expected to generate significant NHP sourcing cost reductions and margin improvement, while planned divestitures of certain European discovery sites and other non-core businesses are expected to contribute approximately $0.10 per share in accretion for the partial year 2026. DSA demand environment is expected to remain solid with a net book-to-bill of 1.04x in the first quarter and cautious optimism for average net book-to-bill around 1x for the year, supporting potential return to organic revenue growth in the second half, while the company continues to advance New Approach Methodologies capabilities and expects AI and lab automation investments by clients to gradually enhance the speed and efficiency of early discovery processes over time.
Based on recent SEC filings and earnings calls, CHARLES RIVER LABORATORIES INTERNATIONAL, INC. (CRL) has provided the following forward guidance: Organic revenue: down 0.5%-1.5% (FY2026); Non-GAAP earnings per share: $10.80-$11.30 (FY2026); Operating margin expansion: approximately 120 basis points-150 basis points (FY2026); Free cash flow: $375 million-$400 million (FY2026); Net interest expense: $103 million-$108 million (FY2026), plus 1 additional metric.