Company file · CRL

Charles River Laboratories

Research Models and Services was Charles River Laboratories' fastest-growing segment in FY2025, up 2.0%

Revenue fell 0.9% to $4.0B in FY2025, from $4.0B in FY2024. It posted a net loss of $144M. Discovery and Safety Assessment was the largest segment, at 60% of revenue.

Prepared from SEC filings · Latest annual report: 10-K for FY2025 (filed Feb 18, 2026) · Latest quarter: 10-Q for the quarter ended Sep 26, 2026 (filed Nov 4, 2026) · Data pulled Nov 11, 2026

Key facts

Charles River Laboratories (NYSE: CRL) reported revenue of $4.0B for fiscal 2025, the year ended Dec 27, 2025, down 0.9% from fiscal 2024. Net income was −$144M, compared with $22M. In its latest 10-Q, for the quarter ended Sep 26, 2026, revenue was $983M, down 2.2% from the same quarter a year earlier, and net income was $333M. The largest piece by segment was Discovery and Safety Assessment, at 60% of fiscal 2025 revenue. Sources: 10-K for fiscal 2025 (filed Feb 18, 2026) and 10-Q for the quarter ended Sep 26, 2026 (filed Nov 4, 2026).

Revenue$4.0BFY2025 · −0.9% vs FY2024

Net income−$144MFY2025 · vs $22M in FY2024

Operating cash flow$738MFY2025 · +0.4% vs FY2024

Cash & equivalents$200Mat Sep 26, 2026 · −6.3% vs FY2025 end

Total debt$2.4Bat Sep 26, 2026 · +14.5% vs FY2025 end

Diluted shares50MFY2025 avg · −4.0% vs FY2024

Revenue and net income, three fiscal yearsBy fiscal year, $bn

RevenueNet income

Source: 10-K FY2025, filed Feb 18, 2026

Quarterly revenue: fiscal 2026 vs a year earlierFiscal Q1–Q3, $bn (each quarter from that quarter's 10-Q)

FY2025FY2026

Source: 10-Q filed May 7, 2026 · 10-Q filed Aug 5, 2026 · 10-Q filed Nov 4, 2026

How it makes money

By segment, FY2025

LineAmountSharevs FY2024
Discovery and Safety Assessment$2.4B60%−2.0%
Research Models and Services$846M21%+2.0%
Manufacturing Support$766M19%−0.4%

Source: 10-K FY2025, XBRL breakdown

By segment in FY2025: Discovery and Safety Assessment (60%), Research Models and Services (21%) and Manufacturing Support (19%), as shares of total revenue. Total revenue was $4.0B.

By segment: three-year mixShare of the total each fiscal year

FY2023

63%19%17%

FY2024

61%20%19%

FY2025

60%21%19%

Discovery and Safety AssessmentResearch Models and ServicesManufacturing Support

Source: 10-K FY2025

By product or service, FY2025

Services$3.3B81%−1.6%

Products$765M19%+2.6%

Share is of the FY2025 total; the last column is the change from FY2024.

Learn more: Revenue vs. net income · Gross, operating and net margin

What changed last quarter

How the quarter compared with a year earlier

Comparing Q3 2026 (Jul to Sep 2026) compared with Q3 2025 (Jul to Sep 2025)

Each pair of bars shows the dollar amount for both quarters. Longer bar, more money. Bars in a group share one scale.

Q3 2026Q3 2025

Company

Revenue

$983M Q3 2026

$1.0B Q3 2025

2.2% decrease

Net income

$333M Q3 2026

$54M Q3 2025

512.0% increase

Source: Charles River Laboratories 10-Q for the quarter ended Sep 26, 2026, filed Nov 4, 2026

By segment

Discovery and Safety Assessment

$596M Q3 2026

$601M Q3 2025

0.7% decrease

Research Models and Services

$208M Q3 2026

$213M Q3 2025

2.8% decrease

Manufacturing Support

$179M Q3 2026

$191M Q3 2025

6.2% decrease

Source: Charles River Laboratories 10-Q for the quarter ended Sep 26, 2026, filed Nov 4, 2026

Cash & equivalents $200M at Sep 26, 2026, vs $214M at FY2025 end.
Total debt $2.4B at Sep 26, 2026, vs $2.1B at FY2025 end.
Operating cash flow, first 9 months of fiscal 2026: $475M vs $590M a year earlier.

The bull case and the bear case

The bull case

Operating cash flow rose 0.4% in FY2025 to $738M. 10-K, FY2025
Diluted shares fell 4.0% in FY2025, so each share represents a larger slice of profit. 10-K, FY2025
Total debt fell 4.6% in FY2025 to $2.1B. 10-K, FY2025
Net income in the quarter ended Sep 26, 2026 was $333M, up 512.0% on a year earlier. 10-Q, quarter ended Sep 26, 2026

The bear case

Revenue fell 0.9% in FY2025 to $4.0B, from $4.0B a year earlier. 10-K, FY2025
It reported a net loss of $144M in FY2025. 10-K, FY2025
Revenue in the quarter ended Sep 26, 2026 was $983M, down 2.2% on a year earlier. 10-Q, quarter ended Sep 26, 2026
Discovery and Safety Assessment revenue fell 2.0% in FY2025 to $2.4B. 10-K, FY2025

What optimists and skeptics tend to point to, each tied to a filing. Ticker Sage doesn't pick a side, and neither list is a reason to buy or sell.

What the company does

Charles River Laboratories is in the life sciences tools & services industry, part of the health care sector. The SEC files it under Services-Commercial Physical & Biological Research.

Charles River Laboratories reports 3 segments: Discovery and Safety Assessment, Research Models and Services and Manufacturing Support.

Its fiscal year ends in December; the latest, FY2025, ended Dec 27, 2025.

Source: 10-K, Item 1 Business

Risks common in this industry

These are general risks for companies in the life sciences tools & services industry. They are not a summary of Charles River Laboratories’s own risk factors; for those, read Item 1A of its latest 10-K, linked below.

RegulationApprovals, safety rules and government oversight shape what it can sell and how.
Pricing and reimbursementPayers, insurers and governments influence what it can charge.
CompetitionNew treatments, generics and rival products can take share.
LitigationProduct liability and other legal claims can lead to costs.
SupplyManufacturing and supplier problems can interrupt products.

Source: 10-K, Item 1A Risk Factors (the company's own list, in the company's words)

Three years of key numbers

Every number links to its filing; hover for the XBRL tag. A dash means the number isn't cleanly available, and we don't estimate it.

US$	FY2023	FY2024	FY2025
Revenue	$4.1B	$4.0B	$4.0B
Net income	$475M	$22M	−$144M
Operating cash flow	$684M	$735M	$738M
Cash & equivalents (year end)	$277M	$195M	$214M
Total debt (year end)	$2.7B	$2.2B	$2.1B
Diluted shares	51M	52M	50M

Revenue: Total revenue for the fiscal year, as the company reports it on its income statement.
Net income: Net income attributable to the company's shareholders, after all costs, interest and taxes.
Operating cash flow: Cash the business brought in from its day-to-day operations during the year (cash flow statement).
Cash & equivalents: Cash and short-term investments that count as cash equivalents on the balance sheet. Excludes longer-dated marketable securities.
Total debt: The current part of long-term debt plus long-term debt, at carrying value.
Diluted shares: Weighted average shares outstanding for the year, including the effect of options and stock awards.

Learn more: How to read an income statement · Earnings per share, basic and diluted · Free cash flow · How to read a balance sheet · Growth rate calculator · P/E calculator · Market cap calculator · Free cash flow calculator · Return on equity and assets calculator

Explainers for this page

Plain-English guides to terms this file uses, with real numbers from filings.

About these numbers

Recent filings

Form	Filed	Period
10-Q	Nov 4, 2026	Sep 26, 2026
10-Q	Aug 5, 2026	Jun 27, 2026
10-Q	May 7, 2026	Mar 28, 2026
DEF 14A	Mar 31, 2026	May 5, 2026
10-K	Feb 18, 2026	Dec 27, 2025

Learn more: 10-K vs. 10-Q vs. 8-K · Form 4 insider filings · Fiscal years and quarters

Common questions about Charles River Laboratories

How does Charles River Laboratories make money?

Charles River Laboratories's revenue was $4.0B in fiscal 2025. By segment in FY2025: Discovery and Safety Assessment (60%), Research Models and Services (21%) and Manufacturing Support (19%), as shares of total revenue. Total revenue was $4.0B. Source: 10-K for fiscal 2025, filed Feb 18, 2026.

What was Charles River Laboratories's revenue in fiscal 2025?

$4.0B of revenue for the fiscal year ended Dec 27, 2025, down 0.9% from $4.0B in fiscal 2024. Fiscal 2023 was $4.1B. Source: 10-K for fiscal 2025, filed Feb 18, 2026.

Is Charles River Laboratories profitable?

Charles River Laboratories reported net income of −$144M for fiscal 2025, compared with $22M from $22M in fiscal 2024. That is a loss under US accounting rules (GAAP). In the quarter ended Sep 26, 2026, net income was $333M. The page's About these numbers section explains what is included. Source: 10-K for fiscal 2025, filed Feb 18, 2026.

What did Charles River Laboratories report in its latest quarterly filing?

Revenue was $983M in the quarter ended Sep 26, 2026, down 2.2% from $1.0B a year earlier. Net income was $333M, up 512.0% from $54M. Source: 10-Q for the quarter ended Sep 26, 2026, filed Nov 4, 2026.

How much cash and debt does Charles River Laboratories have?

Charles River Laboratories had $200M in cash and cash equivalents and $2.4B of total debt on Sep 26, 2026. Total debt here is the current part of long-term debt plus long-term debt, at carrying value. Source: 10-Q filed Nov 4, 2026.

What are the main risks Charles River Laboratories faces?

Charles River Laboratories's own risk factors are in Item 1A of its 10-K for fiscal 2025, filed Feb 18, 2026. Risks that are common among companies in the life sciences tools & services industry include Regulation; pricing and reimbursement; competition; litigation; supply. The first: Approvals, safety rules and government oversight shape what it can sell and how. Source: 10-K, Item 1A Risk Factors.

Where do these Charles River Laboratories numbers come from?

From Charles River Laboratories's own SEC filings: the 10-K for fiscal 2025 (filed Feb 18, 2026) and the 10-Q for the quarter ended Sep 26, 2026 (filed Nov 4, 2026), read through the SEC's public XBRL data. Each number on this page links to its filing. Methodology explains how fiscal years and missing numbers are handled.

Tracked funds that report owning Charles River Laboratories

Citadel Advisors: 1,193,601 shares, reported value $270.7M at Jun 30, 2026 (−1.5% in shares since the filing for Mar 31, 2026). Form 13F filed Sep 2, 2026.
Millennium Management: 486,462 shares, reported value $110.3M at Jun 30, 2026 (−47.9% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.

From each fund’s latest Form 13F, which is filed up to 45 days after quarter end and lists long positions in US-listed stocks only. A listing here is a fact about a filing, not a view on the stock. What a 13F does and doesn’t show.

Disclosures

Editor holdings in CRL: The editor holds no position in Charles River Laboratories (CRL). As of Nov 11, 2026.
Trading rule: The editor does not buy or sell CRL from 3 days before to 3 days after this page is published or substantively updated.
Compensation: Nobody paid for this page. No affiliate links on this page.
Sources: The company's SEC filings, linked next to each number or, for charts, in the source line under them.
Last updated: Nov 10, 2026

General education, the same for every reader. Not a recommendation to buy, sell or hold CRL, and it doesn't consider your situation.

Compare with peers

Company	Fiscal year	Revenue	Revenue growth	Net income
Charles River LaboratoriesCRL	FY2025	$4.0B	−0.9%	−$144M
Thermo FisherTMO	FY2025	$44.6B	+3.9%	$6.7B
DanaherDHR	FY2025	$24.6B	+2.9%	$3.6B
Agilent TechnologiesA	FY2025	$6.9B	+6.7%	$1.3B
WatersWAT	FY2025	$3.2B	+7.0%	$643M

Each row is that company’s latest fiscal year from its own 10-K, using its own revenue and net income lines. Fiscal years end in different months, and line definitions differ (banks, insurers and oil companies count revenue differently), so this is a rough side-by-side, not a like-for-like comparison.

More company files

New to filings? Learn has plain-English explainers and Tools has calculators. Methodology & Disclosures covers where every number comes from.