Charles River Laboratories International, Inc.

CRL · NYSE · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998
Valuation
Market cap	$10,023	$9,520	$12,127	$11,086	$19,014	$12,609	$7,709	$5,712	$5,523	$3,845	$4,057	$2,967	$2,532	$1,795	$1,389	$2,223	$2,202	$1,763	$4,406	$2,979	$2,949	$2,282	$1,563	$1,722	$1,378	$768	$436	$226
Enterprise value	$12,880	$12,054	$14,922	$13,955	$21,981	$14,543	$9,498	$7,215	$6,478	$4,961	$4,786	$3,589	$3,032	$2,348	$2,034	$2,737	$2,511	$2,096	$4,679	$3,377	$3,139	$2,771	$1,564	$1,811	$1,490	$951	$807	$203
P/E (TTM) at period end	–	924.49×	25.55×	22.80×	48.63×	34.61×	30.59×	25.23×	44.78×	24.84×	27.17×	23.42×	24.62×	18.45×	12.68×	–	19.24×	–	28.54×	–	20.77×	25.42×	19.51×	34.36×	38.93×	–	25.46×	9.68×
P/S (TTM) at period end	2.50×	2.35×	2.94×	2.79×	5.37×	4.31×	2.94×	2.52×	2.97×	2.29×	2.98×	2.29×	2.17×	1.59×	1.22×	1.96×	1.88×	1.36×	3.58×	2.81×	2.63×	2.98×	2.55×	3.11×	2.96×	2.51×	1.99×	1.17×
P/B at period end	3.17×	2.75×	3.37×	3.72×	7.50×	5.96×	4.72×	4.34×	5.29×	4.59×	5.53×	4.41×	3.95×	2.99×	2.64×	3.23×	1.60×	1.47×	2.37×	1.87×	1.61×	1.55×	3.36×	4.82×	4.76×	6.57×	–	1.34×
EV / EBITDA (TTM)	30.06×	20.46×	16.02×	14.61×	25.70×	21.78×	17.29×	14.63×	15.45×	13.62×	15.88×	13.09×	12.22×	9.50×	7.84×	–	9.67×	–	14.92×	12.36×	11.42×	13.56×	9.22×	12.24×	12.53×	11.33×	13.78×	4.40×
EV / Sales (TTM)	3.21×	2.98×	3.61×	3.51×	6.21×	4.97×	3.62×	3.18×	3.49×	2.95×	3.51×	2.77×	2.60×	2.08×	1.78×	2.41×	2.14×	1.62×	3.80×	3.19×	2.80×	3.61×	2.55×	3.27×	3.20×	3.10×	3.68×	1.05×
Returns
Return on equity	(4.6%)	0.3%	13.2%	16.3%	15.4%	17.2%	15.4%	17.2%	11.8%	18.5%	20.4%	18.8%	16.0%	16.2%	20.8%	(49.0%)	8.3%	(43.7%)	8.3%	(3.5%)	7.8%	6.1%	17.3%	14.0%	12.2%	(9.6%)	–	13.9%
Return on invested capital	0.4%	1.0%	8.0%	8.8%	8.9%	8.7%	8.6%	9.5%	6.0%	8.5%	10.9%	10.1%	10.0%	11.2%	12.9%	(28.5%)	12.5%	(28.7%)	7.5%	6.8%	8.2%	4.8%	17.8%	17.0%	13.7%	15.1%	8.6%	14.7%
Dividend yield	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.0%	0.1%	0.1%	0.1%	0.1%	–	–	–
Financial health
Current ratio	1.29×	1.41×	1.52×	1.32×	1.23×	1.43×	1.44×	1.61×	1.78×	1.53×	1.79×	1.97×	2.24×	1.42×	1.96×	2.13×	2.38×	2.05×	2.01×	1.93×	1.35×	1.46×	3.24×	2.45×	2.13×	1.86×	1.29×	1.56×
Debt / equity	0.68×	0.65×	0.74×	0.91×	1.05×	0.94×	1.16×	1.27×	1.10×	1.48×	1.18×	1.15×	1.04×	1.11×	1.37×	1.02×	0.36×	0.48×	0.27×	0.36×	0.16×	0.47×	0.40×	0.54×	0.54×	1.74×	(3.50×)	0.00×
Effective tax rate	(42.9%)	72.8%	17.4%	20.9%	17.0%	18.3%	16.5%	19.3%	57.7%	30.0%	22.2%	26.8%	23.8%	21.3%	12.9%	(0.0%)	26.6%	(12.1%)	27.3%	28.2%	10.3%	40.1%	38.5%	38.1%	39.0%	30.5%	47.6%	39.4%
Share count
Diluted shares outstanding	50	52	51	51	51	51	50	49	49	48	48	48	48	48	51	63	66	67	69	70	72	56	49	47	44	32	20	10

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998
Revenue and gross profit
Revenue	$3,999	$4,015	$4,050	$4,129	$3,976	$3,540	$2,924	$2,621	$2,266	$1,858	$1,681	$1,363	$1,298	$1,166	$1,130	$1,143	$1,133	$1,172	$1,295	$1,231	$1,058	$1,122	$767	$614	$555	$466	$307	$219	$193
Cost of revenue	($2,710)	($2,790)	($2,718)	($2,627)	($2,513)	($2,206)	($1,850)	($1,663)	($1,426)	($290)	($277)	($264)	($266)	($273)	($258)	($268)	($253)	($256)	($253)	($752)	($652)	–	–	($380)	($346)	($298)	($187)	–	($123)
Gross profit	$1,289	$1,226	$1,332	$1,503	$1,463	$1,335	$1,074	$958	$840	$1,568	$1,404	$1,099	$1,031	$893	$872	$875	$880	$916	$1,042	$478	$407	–	–	$234	$209	$167	$120	–	$71
Operating expenses
Research and development	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Selling, general and administrative	($762)	($743)	($751)	($748)	($665)	($620)	($529)	($518)	($444)	($371)	($365)	($300)	($269)	($226)	($208)	($199)	($232)	($228)	($224)	($217)	($181)	($158)	($117)	($90)	($83)	($68)	($51)	($40)	($34)
Total operating expenses	($1,199)	($1,200)	($1,104)	($885)	($812)	($745)	($641)	($607)	($509)	($1,280)	($1,167)	($893)	($854)	($741)	($706)	($700)	($1,179)	($746)	($1,494)	($251)	($218)	–	–	($95)	($87)	($77)	($55)	–	($35)
Total costs and expenses	($3,909)	($3,990)	($3,823)	($3,512)	($3,325)	($2,950)	($2,491)	($2,270)	($1,935)	($1,569)	($1,444)	($1,157)	($1,120)	($1,014)	($964)	($968)	($1,432)	($1,002)	($1,747)	($1,003)	($870)	($938)	($609)	($475)	($432)	($375)	($242)	($176)	($158)
Operating income	$90	$25	$227	$617	$651	$590	$433	$351	$331	$288	$238	$206	$178	$151	$166	$174	($299)	$170	($452)	$227	$188	$185	$158	$139	$122	$90	$65	$43	$35
Earnings
EBITDA	$388	$428	$589	$931	$955	$855	$668	$549	$493	$419	$364	$301	$274	$248	$247	$260	($205)	$260	($365)	$314	$273	$275	$204	$170	$148	$119	$84	$59	$46
Interest income	$5	$5	$9	$5	$1	$1	$1	$2	$1	$1	$1	$1	$1	$1	$1	$1	$1	$2	$8	$10	$7	$4	$3	–	$2	$1	–	–	–
Interest expense	($106)	($107)	($126)	($137)	($59)	($74)	($86)	($61)	($64)	($30)	($28)	($15)	($12)	($21)	($33)	($43)	($35)	($22)	($22)	($15)	($193)	($23)	($9)	($7)	($27)	($27)	($67)	($8)	–
Pre-tax income	($184)	($100)	$93	$581	$623	$481	$447	$304	$282	$297	$223	$195	$178	$138	$130	$133	($334)	$152	($471)	$217	$177	$160	$153	$133	$114	$69	$26	$33	$36
Income tax expense	($53)	($43)	($68)	($101)	($130)	($82)	($82)	($50)	($54)	($171)	($67)	($43)	($48)	($33)	($28)	($17)	($0)	($40)	($57)	($59)	($50)	($17)	($61)	($51)	($44)	($27)	($8)	($16)	($14)
Net income	($238)	($144)	$22	$475	$486	$391	$364	$252	$226	$123	$155	$149	$127	$103	$97	$110	($337)	$114	($525)	$154	($56)	$142	$90	$80	$50	$35	($11)	$17	$23
Per share
Diluted EPS (GAAP)	($4.85)	($2.91)	$0.20	$9.22	$9.48	$7.60	$7.20	$5.07	$4.62	$2.54	$3.23	$3.13	$2.66	$2.12	$2.01	$2.14	($5.38)	$1.74	($7.80)	$2.25	($0.80)	$1.96	$1.67	$1.64	$1.06	$0.80	($0.35)	$0.86	$2.27
Basic EPS (GAAP)	($4.84)	($2.91)	$0.20	$9.27	$9.57	$7.77	$7.35	$5.17	$4.72	$2.60	$3.29	$3.21	$2.72	$2.15	$2.03	$2.16	($5.38)	$1.75	($7.80)	$2.31	($0.81)	$2.04	$1.81	$1.76	$1.12	$0.86	($0.40)	$0.86	$2.27
Basic shares outstanding	49	50	51	51	51	50	50	49	48	47	47	46	47	48	48	51	63	65	67	67	69	70	50	46	45	41	28	20	10
Margins
Gross margin	32.2%	30.5%	32.9%	36.4%	36.8%	37.7%	36.7%	36.6%	37.1%	84.4%	83.5%	80.6%	79.5%	76.6%	77.2%	76.5%	77.7%	78.2%	80.5%	38.9%	38.4%	–	–	38.1%	37.7%	35.9%	39.1%	–	36.6%
Operating margin	2.3%	0.6%	5.6%	14.9%	16.4%	16.7%	14.8%	13.4%	14.6%	15.5%	14.1%	15.1%	13.7%	13.0%	14.7%	15.3%	(26.3%)	14.5%	(34.9%)	18.5%	17.8%	16.5%	20.6%	22.6%	22.0%	19.4%	21.2%	19.6%	18.3%
Net margin	(6.0%)	(3.6%)	0.5%	11.5%	12.2%	11.0%	12.5%	9.6%	10.0%	6.6%	9.2%	11.0%	9.8%	8.8%	8.6%	9.6%	(29.7%)	9.8%	(40.5%)	12.5%	(5.3%)	12.7%	11.7%	13.1%	9.0%	7.6%	(3.7%)	7.8%	12.1%

Analyst consensus

Buy37 analysts

Bearish · 0 · Hold · 10 · Bullish · 27

Earnings history

	EPS	Estimate
Q3 2024	$2.59	$2.42	Beat
Q4 2024	$2.66	$2.50	Beat
Q1 2025	$2.34	$2.06	Beat
Q2 2025	$3.12	$2.50	Beat
Q3 2025	$2.43	$2.32	Beat
Q4 2025	$2.39	$2.33	Beat
Q1 2026	$2.06	$1.96	Beat
Q2 2026	$3.02	$2.74	Beat

Peers

Company overview

IPO dateJun 23, 2000

CEOBirgit Girshick

Employees19,000

SectorHealthcare

IndustryMedical - Diagnostics & Research

CountryUS

ExchangeNew York Stock Exchange

Websitewww.criver.com

Charles River Laboratories International, Inc. operates as a contract research organization (CRO), providing essential preclinical services to the pharmaceutical and biotechnology industries. Its core business revolves around assisting clients with drug discovery, non-clinical development, and thorough safety testing, with its services extending globally across the United States, Europe, Canada, and the Asia Pacific region. The company organizes its diverse offerings into three principal segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Solutions. 1. Research Models and Services (RMS): This division is a key supplier of high-quality rodent research models, including specially bred strains of rats and mice for experimental purposes. It also offers a comprehensive array of support services to help clients effectively utilize these models in their research and for the screening of potential non-clinical drug candidates. These include providing genetically engineered models, insourcing solutions for facility management, and diagnostic services for research animals. 2. Discovery and Safety Assessment (DSA): The DSA segment plays a crucial role in advancing early-stage drug pipelines. It delivers early-phase and in vivo discovery services focused on identifying and validating new therapeutic targets, chemical compounds, and antibodies. The ultimate goal is to prepare promising non-clinical drug and therapeutic candidates for subsequent safety evaluations. Additionally, this segment provides an extensive range of safety assessment services, such as toxicology, pathology, safety pharmacology, bioanalysis, drug metabolism studies, and pharmacokinetics. 3. Manufacturing Solutions: This segment addresses critical quality control requirements by offering in vitro methods for both routine and rapid testing of the quality of sterile and non-sterile pharmaceuticals, as well as consumer products. It also serves as a vital provider of specialized biologics testing, which is often outsourced by pharmaceutical and biotechnology companies. Furthermore, the segment supplies avian vaccine services, including specific-pathogen-free (SPF) fertile chicken eggs, SPF chickens, and diagnostic products, all essential for vaccine production. Beyond these specialized segments, Charles River also manages contract vivarium operations, providing crucial animal housing and care facilities for its biopharmaceutical clients. The company was founded in 1947 and is headquartered in Wilmington, Massachusetts.

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