Charles River Laboratories (CRL) financial statements
Charles River Laboratories reported revenue of $4.0B in fiscal 2025, up 10.2% a year over 9 years.
Net income was -$144M and the operating margin 0.6%, against 14.1% in 2016.
Free cash flow was $518M, and the company returned $361M in net buybacks.
The diluted share count rose 3% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Charles River Laboratories's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.7B | $1.9B | $2.3B | $2.6B | $2.9B | $3.5B | $4.0B | $4.1B | $4.0B | $4.0B |
| Cost of revenue | $277M | $290M | — | — | — | — | — | — | — | — |
| Gross profit | $1.4B | $1.6B | — | — | — | — | — | — | — | — |
| Selling, general and admin | $365M | $371M | $444M | $518M | $529M | $620M | $665M | $748M | $751M | $743M |
| Operating income | $238M | $288M | $331M | $351M | $433M | $590M | $651M | $617M | $227M | $25M |
| Interest expense | $28M | $30M | $64M | $61M | $86M | $74M | $59M | $137M | $126M | $107M |
| Pre-tax income | $223M | $297M | $282M | $304M | $447M | $481M | $623M | $581M | $93M | -$100M |
| Income tax | $67M | $171M | $54M | $50M | $82M | $82M | $130M | $101M | $68M | $43M |
| Net income | $155M | $123M | $226M | $252M | $364M | $391M | $486M | $475M | $22M | -$144M |
| EPS (diluted) | $3.23 | $2.54 | $4.62 | $5.07 | $7.20 | $7.60 | $9.48 | $9.22 | $0.20 | -$2.91 |
| Diluted shares | 48M | 49M | 49M | 50M | 51M | 51M | 51M | 51M | 52M | 50M |
| Gross margin | 83.5% | 84.4% | — | — | — | — | — | — | — | — |
| Operating margin | 14.1% | 15.5% | 14.6% | 13.4% | 14.8% | 16.7% | 16.4% | 14.9% | 5.6% | 0.6% |
| Net margin | 9.2% | 6.6% | 10.0% | 9.6% | 12.5% | 11.0% | 12.2% | 11.5% | 0.5% | -3.6% |
Balance sheet
Fiscal years, from Charles River Laboratories's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $121M | $192M | $196M | $239M | $229M | $242M | $234M | $277M | $195M | $214M |
| Receivables | $364M | $430M | $472M | $514M | $618M | $643M | $752M | $780M | $721M | $709M |
| Inventory | $96M | $115M | $128M | $161M | $186M | $199M | $256M | $380M | $279M | $299M |
| Total current assets | $657M | $827M | $898M | $1.0B | $1.2B | $1.3B | $1.4B | $1.6B | $1.4B | $1.4B |
| Property, plant and equipment | $756M | $782M | $933M | $1.0B | $1.1B | $1.3B | $1.5B | $1.6B | $1.6B | $1.7B |
| Goodwill | $788M | $805M | $1.2B | $1.5B | $1.8B | $2.7B | $2.8B | $3.1B | $2.8B | $2.8B |
| Total assets | $2.7B | $2.9B | $3.9B | $4.7B | $5.5B | $7.0B | $7.6B | $8.2B | $7.5B | $7.1B |
| Total current liabilities | $430M | $464M | $558M | $710M | $840M | $1.0B | $1.1B | $1.1B | $994M | $1.1B |
| Long-term debt | $1.2B | $1.1B | $1.6B | $1.8B | $1.9B | $2.7B | $2.7B | $2.6B | $2.2B | $2.1B |
| Total liabilities | $1.9B | $1.9B | $2.5B | $3.0B | $3.3B | $4.4B | $4.6B | $4.5B | $4.0B | $3.9B |
| Shareholders' equity | $837M | $1.0B | $1.3B | $1.6B | $2.1B | $2.5B | $3.0B | $3.6B | $3.5B | $3.2B |
| Net debt | $1.1B | $979M | $1.5B | $1.6B | $1.7B | $2.4B | $2.5B | $2.4B | $2.0B | $1.9B |
Cash flow
Fiscal years, from Charles River Laboratories's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $317M | $318M | $441M | $481M | $547M | $761M | $620M | $684M | $735M | $738M |
| Capital spending | $55M | $82M | $140M | $141M | $167M | $229M | $325M | $319M | $233M | $219M |
| Free cash flow | $262M | $236M | $301M | $340M | $380M | $532M | $295M | $365M | $502M | $518M |
| Stock-based compensation | $44M | $44M | $47M | $57M | $56M | $71M | $74M | $72M | $70M | $71M |
| Share buybacks (net) | -$12M | -$107M | -$14M | -$18M | -$24M | -$41M | -$39M | -$24M | -$119M | -$361M |
| Net borrowing | $1.0B | $237M | $2.8B | $3.4B | $2.2B | $7.0B | $3.0B | $776M | $1.1B | $1.2B |
| Free cash flow margin | 15.6% | 12.7% | 13.3% | 13.0% | 13.0% | 15.0% | 7.4% | 8.8% | 12.4% | 12.9% |
Questions
What was Charles River Laboratories's revenue in 2025?
$4.0B in fiscal 2025, from its 10-K filing.
How much free cash flow does Charles River Laboratories generate?
$518M in fiscal 2025 (operating cash flow minus capital spending).
From Charles River Laboratories's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.