Charles River stock forecast 2027–2029
MyStockButler's October 2026 analysis: The weighted forecast points to $204.63 in October 2027 and $292.48 in October 2029. It hinges on bookings becoming profitable studies.
Where could Charles River's shares be by October 2029?
The weighted forecast points to $204.63 in October 2027, a 41% loss, and $292.48 in October 2029, a 15% loss; it hinges on bookings becoming profitable studies, margins improving, and cash reducing debt.
The forecast assigns 35% probability to the bear case, 45% to the base case, and 20% to the bull case. The November 4, 2026 results call tests third-quarter guidance of 1.0%–3.0% organic revenue growth and adjusted EPS of $2.90–$3.00, with DSA bookings and study starts central to conversion. The December 2026 quarter tests second-half margin delivery and 2026 free cash flow. The March–September 2027 refinancing window could affect earnings and debt reduction. From 2027 through 2030, organic growth, margins, and savings must translate into cash.
| Case | Probability | October 2027 | October 2028 | October 2029 |
|---|---|---|---|---|
| Bear | 35 % | 123.96 (-64 %) | 133.40 (-61 %) | 149.74 (-57 %) |
| Base | 45 % | 232.71 (-33 %) | 272.03 (-21 %) | 315.90 (-9 %) |
| Bull | 20 % | 282.64 (-18 %) | 376.88 (+9 %) | 489.58 (+42 %) |
| Weighted | 100 % | 204.63 (-41 %) | 244.48 (-29 %) | 292.48 (-15 %) |
What has to go right or wrong for Charles River?
That margin reflects the 2021–2023 reported range, but remains below management’s 24% adjusted target. The bear case gives $475 million, then $511 million, because revenue begins at $3,650 million and margins are held to 13% and 14%. It reaches $570 million as utilization stabilizes. The bull case reaches $646 million, $747 million, and $859 million as faster bookings conversion lifts margins from 17% to 19%. The evidence is the $701 million of Q2 DSA bookings and 1.19 book-to-bill, offset by higher direct study costs and weak pricing.
How much cash does Charles River really make?
Free cash flow was $518.5 million in 2025 after capital spending. It had been $294.9 million in 2022, when capital spending was $324.7 million. Subtracting $71.1 million of stock compensation produces an analytical “real free cash flow” of $447.4 million, because stock awards transfer value even though they do not immediately consume cash.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Cash from operations | 737,646 | 734,577 | 683,898 | 619,640 | 760,799 |
| − Capital spending | 219,152 | 232,967 | 318,528 | 324,733 | 228,772 |
| = Free cash flow | 518,494 | 501,610 | 365,370 | 294,907 | 532,027 |
| − Stock pay | 71,083 | 69,891 | 72,048 | 73,617 | 71,474 |
| = Real free cash flow | 447,411 | 431,719 | 293,322 | 221,290 | 460,553 |
What this means. The company's own free cash flow is higher in 2022 because it leaves out 35,344 thousand dollars of tax paid when it sold the Avian Vaccine business.
What does an investor pay for Charles River today?
Charles River Laboratories is priced for a recovery that must become durable growth. At $345.37 a share on October 24, 2026, the stock asks investors to believe that stronger demand, fuller laboratories, and better cash conversion will last.
| Today (Oct 24, 2026) | |
|---|---|
| Share price | 345.37 |
| P/E, last 12 months (calculated) | not meaningful |
| P/E, next 12 months (calculated) | 27.0x |
| Free cash flow yield (calculated) | 3.1% |
| Real free cash flow yield (calculated) | 2.7% |
What this means. The last-12-month price-to-earnings number is not meaningful because the company lost money during that period.