Charles River Laboratories International Inc
CRL—
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Charles River Laboratories International Inc AI Insights
Informational only. Not investment advice.Snapshot
- Goodwill of 2.9B is 86% of equity (3.4B) with negative tangible book value (-88M) - material impairment risk if biotech spending slows[Goodwill]
- FCF of 544M TTM (13.5% margin) despite -83M net loss - non-cash charges masking operational cash generation[Free Cash Flow TTM]
- EPS declined -16% 3Y and -12% 5Y CAGR while trading at 101x P/E vs industry median 27x - valuation disconnected from fundamentals[P/E Ratio]
Watch Triggers
- Free Cash Flow TTM: Falls below 400M or FCF margin below 10% — FCF is only buffer against balance sheet stress - deterioration threatens debt service
- Goodwill: Additional impairments exceeding 200M annually — Further writedowns would push equity toward zero, triggering covenant concerns
- Operating Margin TTM: Drops below 5% — Already thin 8.8% margin - compression signals pricing power loss in biotech downturn
Bull Case
FCF yield of 5.9% (544M/9.2B market cap) with operating cash flow 749M provides debt paydown capacity despite net losses
Free Cash Flow TTMCash Flow TTMTotal Debt
Essential CRO infrastructure with 2B PPE creates switching costs - biotech recovery would drive operating leverage on fixed cost base
PPEOperating Margin TTMGross Margin TTM
Bear Case
Negative tangible book (-88M) with 2.6B debt and 111M interest expense - balance sheet stress if FCF deteriorates
Tangible Book ValueTotal DebtInterest Expense TTM
101x P/E on declining EPS (-16% 3Y CAGR) vs 27x industry median - multiple compression risk if biotech spending doesn't recover
P/E RatioEPS Growth 3YEPS Growth 5Y
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
35%
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Forward Thesis
Cash generation will diverge from reported earnings as goodwill impairments continue
1-3yhigh
- 215M unusual items TTM likely goodwill-related
- Negative tangible book forces focus on FCF
- Interest expense 111M straining net income
FCF 544M vs net loss -83M TTMGoodwill 86% of equityDebt/equity 0.77 with 2.6B debt
Biotech funding cycle will determine revenue trajectory - CRL lacks pricing power in downturn
1-3ymed
- Revenue 4B flat amid biotech pullback
- Operating margin 8.8% leaves little cushion
- High fixed cost base in PPE (2B)
Operating margin 8.8% vs 0% medianAsset turnover 0.52x below median 0.27xCapex -206M maintaining capacity
Valuation Context
Caveats
CRL Fundamentals
Professional, Scientific, and Technical Services → Professional, Scientific, and Technical Services
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$7.65B | — | ||
$10.52B | — | ||
0.00 | — | ||
$4.03B | +0.1% | — | |
$-3.71 | -67.3% | — | |
11.1% | +1.4% | — | |
-4.59% | -3.8% | — | |
$391.29M | -30.5% | — | |
-6.02% | -5.1% | — | |
Beta 5Y (Monthly) | unknown | — |
CRL Dividend History
No dividends
CRL Stock Splits
No stock splits
CRL SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
05/07/26 | 03/28/26 | 10-Q | |
02/18/26 | 12/27/25 | 10-K | |
11/05/25 | 09/27/25 | 10-Q | |
08/06/25 | 06/28/25 | 10-Q | |
05/07/25 | 03/29/25 | 10-Q | |
02/19/25 | 12/31/24 | 10-K | |
02/19/25 | 12/30/24 | Unknown | |
11/06/24 | 09/28/24 | 10-Q | |
08/07/24 | 06/29/24 | 10-Q | |
05/09/24 | 03/30/24 | 10-Q | |
02/14/24 | 12/30/23 | 10-K | |
11/08/23 | 09/30/23 | 10-Q | |
08/09/23 | 07/01/23 | 10-Q | |
05/11/23 | 04/01/23 | 10-Q | |
02/22/23 | 12/31/22 | 10-K | |
11/02/22 | 09/24/22 | 10-Q | |
08/03/22 | 06/25/22 | 10-Q | |
05/04/22 | 03/26/22 | 10-Q | |
02/16/22 | 12/31/21 | 10-K | |
11/03/21 | 09/25/21 | 10-Q | |
08/04/21 | 06/26/21 | 10-Q | |
05/04/21 | 03/27/21 | 10-Q | |
02/17/21 | 12/26/20 | 10-K | |
11/09/20 | 09/26/20 | 10-Q | |
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05/07/20 | 03/28/20 | 10-Q | |
02/11/20 | 12/28/19 | 10-K | |
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