# Charles River Laboratories International, Inc. (CRL) — Stock CV

Charles River Laboratories International, Inc. is a $14.4B healthcare company. Revenue shrank 0.7% over the last year, it currently loses money, and its net debt equals ~5.2 years of free cash flow.

> Charles River Laboratories was founded in 1947 and is a leading provider of drug discovery and development services.

## Identity

- **Ticker**: CRL
- **Sector**: Healthcare
- **Industry**: Services-Commercial Physical & Biological Research
- **Headquarters**: WILMINGTON, MA
- **Employees**: 19 700
- **Website**: https://www.criver.com
- **Market cap**: $14.4B
- **Last price**: $301.79
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $4.00B
- **Net income**: -$238M
- **Free cash flow**: $371M
- **Net debt**: $1.92B
- **P/E**: 20.8
- **Revenue growth (YoY)**: -0.7%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 50 |
| Growth | 6 |
| Profitability | 5 |
| Health | 27 |
| Quality | 65 |
| Moat | 43 |

## Qualifications (beginner checklist) — 5 of 10 passed

- [ ] Revenue growing — -0.7% YoY
- [ ] Profitable — -$238M TTM
- [ ] Profit growing — -750.1% YoY
- [x] Generates cash — $371M TTM
- [ ] Debt under control — ~5.2y of cash flow to repay
- [x] Established company — $14.4B market cap
- [x] Not printing shares — -2.1% shares over ~5y
- [x] Proven track record — 9/10 profitable years
- [ ] Financially stable — health score 15/100
- [x] Valuation not extreme — P/E 20.8

## Experience (career milestones)

- **FY2022** — Best year on record: $486M net income
- **2021** — Charles River announced the acquisition of Vigene Biosciences, a gene therapy contract development and…
- **FY2016** — First recorded profitable year: $155M net income
- **FY2016** — Revenue already above $1B: $1.68B in first reported year
- **FY2016** — Positive free cash flow every year since: 10-year streak
- **2010** — Charles River Laboratories attempted to acquire WuXi PharmaTech, a China-based contract research…
- **2005** — The company introduced preconditioning services in 2005 to provide customers with study-ready animals
- **2003** — Charles River Laboratories merged with Inveresk, a research company based in the United Kingdom
- **2002** — Charles River launched the Humane Care Imperative in 2002, designed to raise awareness and train employees on animal…
- **1996** — Between 1996 and 2000, the company acquired Endosafe, Inc. and Sierra Biomedical
- **1988** — Charles River purchased Specific Pathogen Antigen Free Avian Services (SPAFAS) and serologic diagnostic…
- **1981** — The first commercial, comprehensive genetic monitoring program was implemented by Charles River in 1981
- **1966** — The organization became an international entity in 1966 by opening a new animal production facility in France
- **1947** — Charles River was founded in 1947 by Henry Foster, a young veterinarian who purchased one thousand rat cages from a…

## Strengths

- None stand out in the data.

## Watch-outs

- Revenue shrinking 0.7% year over year
- Not profitable — 6.0% net margin
- Thin interest coverage (0.2×)
- Loss-making in 1 of the recent years
- Net debt equals ~5.2 years of free cash flow

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $3.54B | $391M | $532M |
| FY2022 | $3.98B | $486M | $295M |
| FY2023 | $4.13B | $475M | $365M |
| FY2024 | $4.05B | $22.2M | $502M |
| FY2025 | $4.02B | -$144M | $518M |

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Source: https://stockcv.com/CRL — derived from company filings; may be delayed or incomplete. Information, not investment advice.