CRA International Inc (CRAI) is slightly undervalued and ICF International Inc (ICFI) is undervalued.
Against our estimates of intrinsic value, ICFI trades at the wider discount: a margin of safety of +31%, against +15% for CRAI.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 8.0% (average of 3 methods) values the shares at $186.19; the price of $158.74 is 15% below that value, and 80% of that value comes from beyond year five.
Leak Score 74/100 on 9 of 12 signals
Discounting its cash flows at 7.6% (average of 3 methods) values the shares at $121.43; the price of $83.58 is 31% below that value, and 80% of that value comes from beyond year five.
Leak Score 73/100 on 10 of 12 signals
| Metric | CRAI | ICFI |
|---|---|---|
| Verdict | Slightly undervalued | Undervalued |
| Price | $158.74 | $83.58 |
| Intrinsic value | $186.19 | $121.43 |
| Margin of safety | +15% | +31% |
| Leak Score | 74/100 (9/12) | 73/100 (10/12) |
| Market cap | $996M | $1.5B |
| Revenue growth, 5 years | 8.1% | 4.4% |
| Operating margin | 10.0% | 8.1% |
| Net margin | 6.2% | 4.9% |
| Return on equity | 26.0% | 8.6% |
| Debt to equity | 1.67 | 0.54 |
| P/E | 21.1x | 17.3x |
| Forward P/E | 16.6x | 10.8x |
| P/B | 5.5x | 1.4x |
| Dividend yield | 1.4% | 0.7% |