CRA International (FRA:CR2) Cyclically Adjusted PB Ratio: 5.02 (As of Aug. 15, 2026) — 68% Above Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

FRA:CR2 CRA International Inc FRA:CR2
82 GF Score
Price €144.00
GF Value €180.04
! 2 Warning Signs
View Full Analysis

What is CRA International Cyclically Adjusted PB Ratio?

CRA International FRA:CR2 82 Cyclically Adjusted PB Ratio is 5.02 as of Aug. 15, 2026, which is 68% above its 10-year median of 2.98. GuruFocus rates FRA:CR2 with a GF Score™ of 82/100 and a GF Value™ of €180.04. The stock has 2 warning signs investors should review. Among 716 Business Services companies, CRA International ranks worse than 87.99% on this metric.

As of today (2026-08-15), CRA International's current share price is €144.00. CRA International's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 was €28.68. CRA International's Cyclically Adjusted PB Ratio for today is 5.02.

The historical rank and industry rank for CRA International's Cyclically Adjusted PB Ratio or its related term are showing as below:

FRA:CR2' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.98   Med: 2.98   Max: 6.74
Current: 5.12

During the past years, CRA International's highest Cyclically Adjusted PB Ratio was 6.74. The lowest was 0.98. And the median was 2.98.

FRA:CR2's Cyclically Adjusted PB Ratio is ranked worse than
87.99% of 716 companies
in the Business Services industry
Industry Median: 1.53 vs FRA:CR2: 5.12

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

CRA International's adjusted book value per share data for the three months ended in Jun. 2026 was €25.231. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is €28.68 for the trailing ten years ended in Jun. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


CRA International  (FRA:CR2) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


CRA International Cyclically Adjusted PB Ratio Related Terms


CRA International Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for CRA International's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

CRA International Cyclically Adjusted PB Ratio Chart

CRA International Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3.34 4.16 3.24 5.97 6.25

CRA International Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.85 6.48 6.25 4.95 4.32

FRA:CR2 vs ICFI, ROMA, HURN: Cyclically Adjusted PB Ratio Comparison

For the Consulting Services subindustry, CRA International's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


CRA International Cyclically Adjusted PB Ratio vs Business Services Industry

For the Business Services industry and Industrials sector, CRA International's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where CRA International's Cyclically Adjusted PB Ratio falls into.


FRA:CR2
82GF Score
CRA International Inc FRA:CR2
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

CRA International Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

CRA International's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=144.00/28.68
=5.02

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

CRA International's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, CRA International's adjusted Book Value per Share data for the three months ended in Jun. 2026 was:

Adj_Book=Book Value per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=25.231/333.9520*333.9520
=25.231

Current CPI (Jun. 2026) = 333.9520.

CRA International Quarterly Data

Book Value per Share CPI Adj_Book
201609 22.449 241.428 31.052
201612 23.572 241.432 32.605
201703 23.566 243.801 32.280
201706 22.624 244.955 30.844
201709 21.603 246.819 29.229
201712 21.072 246.524 28.545
201803 20.120 249.554 26.924
201806 20.929 251.989 27.736
201809 21.280 252.439 28.151
201812 21.560 251.233 28.659
201903 21.875 254.202 28.738
201906 22.030 256.143 28.722
201909 22.659 256.759 29.471
201912 22.774 256.974 29.596
202003 22.912 258.115 29.644
202006 23.081 257.797 29.899
202009 22.420 260.280 28.766
202012 22.334 260.474 28.634
202103 23.272 264.877 29.341
202106 22.374 271.696 27.501
202109 23.478 274.310 28.583
202112 24.740 278.802 29.634
202203 25.882 287.504 30.063
202206 26.265 296.311 29.601
202209 28.511 296.808 32.079
202212 27.878 296.797 31.368
202303 26.264 301.836 29.059
202306 26.858 305.109 29.397
202309 27.920 307.789 30.293
202312 28.050 306.746 30.538
202403 28.284 312.332 30.242
202406 26.379 314.175 28.040
202409 27.250 315.301 28.862
202412 29.920 315.605 31.659
202503 30.968 319.799 32.339
202506 26.028 322.561 26.947
202509 26.243 324.800 26.982
202512 27.862 324.054 28.713
202603 26.631 330.213 26.933
202606 25.231 333.952 25.231

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

What does a Cyclically Adjusted PB Ratio of 5.02 mean?
CRA International (FRA:CR2) has a Cyclically Adjusted PB Ratio of 5.02 as of Aug. 15, 2026. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on CRA International and its competitors. This is 68% above median its historical median of 2.98. Over the past decade, CRA International's Cyclically Adjusted PB Ratio has ranged from 0.98 to 6.74. According to the industry distribution chart, CRA International ranks #630 out of 716 companies in the Business Services industry, placing it in the top 88%.
Is CRA International's Cyclically Adjusted PB Ratio too high?
CRA International's current Cyclically Adjusted PB Ratio of 5.02 is 68% above median its 10-year median of 2.98. Over the past 10 years, this metric has ranged from a low of 0.98 to a high of 6.74. The Business Services industry median Cyclically Adjusted PB Ratio is 1.53. CRA International's value of 5.02 is 228.1% above this industry median. Based on the distribution chart, CRA International ranks #630 out of 716 companies in the Business Services industry, which is in the bottom quartile relative to peers. Overall, CRA International has a GF Score™ of 82/100, reflecting its overall financial health beyond just this single metric.
How does CRA International's Cyclically Adjusted PB Ratio compare to ICFI and ROMA?
According to the Business Services industry distribution chart, CRA International ranks #630 out of 716 companies for Cyclically Adjusted PB Ratio. This places CRA International in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.53. CRA International's value of 5.02 is 228.1% above this benchmark. Historically, CRA International's own Cyclically Adjusted PB Ratio has ranged from 0.98 to 6.74 over the past decade. While the company's 10-year median is 2.98 vs. the industry median of 1.53, CRA International has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PB Ratio for a Business Services company?
The median Cyclically Adjusted PB Ratio among Business Services companies is 1.53, based on 716 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. CRA International's current Cyclically Adjusted PB Ratio of 5.02 is 228.1% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PB Ratio mean?
A high Cyclically Adjusted PB Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on CRA International and its competitors. For the Business Services industry, the median Cyclically Adjusted PB Ratio is 1.53 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. CRA International's current Cyclically Adjusted PB Ratio is 5.02, which is 68% above median its own 10-year median of 2.98. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CRA International stock overvalued right now?
CRA International (FRA:CR2) has a current Cyclically Adjusted PB Ratio of 5.02. The stock's GF Value™ is €180.04, compared to a current price of €144.00 — trading 20% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 5.02, which is 68% above median its 10-year median of 2.98 and 228.1% above the Business Services industry median of 1.53. CRA International's overall GF Score™ is 82/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PB Ratio calculated?
Cyclically Adjusted PB Ratio is calculated from a company's financial statements. For CRA International (FRA:CR2), the current Cyclically Adjusted PB Ratio is 5.02 as of Aug. 15, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is CRA International (FRA:CR2) Overvalued in 2026?

Based on GuruFocus' analysis, CRA International stock appears to be undervalued. The current stock price of €144.00 is trading 20% below its estimated GF Value™ of €180.04.

Key valuation signals for FRA:CR2:

  • Cyclically Adjusted PB Ratio: 5.02 (68% above median its 10-year median of 2.98)
  • GF Value™: €180.04 vs. price of €144.00 (20% below fair value)
  • GF Score™: 82/100 with 2 warning signs
  • Industry Position: 228.1% above the Business Services median (#630 of 716)

No single metric tells the full story. See the FRA:CR2 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


CRA International Business Description

Other Exchanges CRAI:USA
Address 200 Clarendon Street, Boston, MA, USA, 02116-5092
CRA International Inc is a consulting firm specializing in providing economic, financial and management consulting services. The company provides advisory services on economic and financial matters related to litigation and regulatory proceedings, and advises corporations on business and performance-related matters. Its consulting services are organized into two areas: litigation, regulatory and financial consulting, and management consulting. The company's clients include domestic and foreign companies, government agencies, public and private utilities, and national and international trade associations. It derives revenues by providing professional and consulting services. Geographically, the maximum revenue is derived from the United States, followed by United Kingdom and other regions.
82GF Score

Get the complete analysis for FRA:CR2

Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€144.00
Price
€180.04
GF Value