CRVL · Corvel Corp - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Revenue | $958.53M | $895.59M | $795.31M | $718.56M | $646.23M | $552.64M |
| Cost of Revenue | $725.66M | $685.86M | $623.62M | $560.30M | $494.12M | $429.02M |
| Gross Profit | $232.86M | $209.73M | $171.69M | $158.26M | $152.11M | $123.62M |
| R&D | - | - | - | - | - | - |
| SG&A | $89.73M | $88.90M | $76.59M | $73.70M | $67.60M | $64.45M |
| Total Operating Expenses | - | - | - | - | - | - |
| D&A | $31.76M | $29.54M | $26.25M | $25.12M | $23.92M | $23.44M |
| Operating Income | $143.13M | $120.82M | $95.10M | $84.55M | $84.51M | $59.17M |
| Interest Expense | - | - | - | - | - | - |
| Income Tax | $32.79M | $25.66M | $18.85M | $18.19M | $18.10M | $12.82M |
| Net Income | $110.34M | $95.17M | $76.25M | $66.36M | $66.41M | $46.36M |
| EPS - Basic | $2.15 | $1.85 | $1.48 | $1.28 | $1.25 | $0.86 |
| EPS - Diluted | $2.14 | $1.83 | $1.47 | $1.26 | $1.22 | $0.85 |
Balance Sheet
| Line item | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $233.07M | $170.58M | $105.56M | $71.33M | $97.50M | $139.72M |
| Accounts Receivable | $101.31M | $104.13M | $97.11M | $81.03M | $82.59M | $64.72M |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | $24.32M | $15.42M | $16.41M | $15.06M | $14.08M | $12.35M |
| Current Assets | $462.30M | $386.69M | $302.23M | $243.77M | $264.99M | $268.94M |
| Total Assets | $642.99M | $545.98M | $454.68M | $393.92M | $415.25M | $424.76M |
| Current Liabilities | $228.07M | $204.04M | $184.50M | $167.89M | $171.37M | $162.46M |
| Long-term Debt | - | - | - | - | - | - |
| Total Liabilities | $248.75M | $223.99M | $207.03M | $191.75M | $202.85M | $204.36M |
| Stockholders' Equity | $394.23M | $321.99M | $247.65M | $202.18M | $212.40M | $220.40M |
| Retained Earnings | $1.01B | $903.09M | $807.92M | $731.67M | $665.30M | $598.89M |
Cash Flow
| Line item | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $155.64M | $127.31M | $99.24M | $82.29M | $67.22M | $94.38M |
| Investing Cash Flow | ($45.36M) | ($35.76M) | ($29.24M) | ($26.32M) | ($29.82M) | ($17.24M) |
| Financing Cash Flow | ($47.80M) | ($26.54M) | ($35.76M) | ($82.14M) | ($79.61M) | ($20.64M) |
| CapEx | $45.36M | $35.76M | $29.24M | $26.32M | $29.82M | $17.24M |
| Free Cash Flow | $110.28M | $91.56M | $70.00M | $55.97M | $37.40M | $77.14M |
Ratios
| Metric | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 24.3% | 23.4% | 21.6% | 22.0% | 23.5% | 22.4% |
| Operating margin | 14.9% | 13.5% | 12.0% | 11.8% | 13.1% | 10.7% |
| EBITDA margin | 18.2% | 16.8% | 15.3% | 15.3% | 16.8% | 14.9% |
| Net margin | 11.5% | 10.6% | 9.6% | 9.2% | 10.3% | 8.4% |
| Free cash flow margin | 11.5% | 10.2% | 8.8% | 7.8% | 5.8% | 14.0% |
| FCF / Net income | 1.00 | 0.96 | 0.92 | 0.84 | 0.56 | 1.66 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 9.4% | 9.9% | 9.6% | 10.3% | 10.5% | 11.7% |
| Effective tax rate | 22.9% | 21.2% | 19.8% | 21.5% | 21.4% | 21.7% |
| Return on assets | 17.2% | 17.4% | 16.8% | 16.8% | 16.0% | 10.9% |
| Return on equity | 28.0% | 29.6% | 30.8% | 32.8% | 31.3% | 21.0% |
| Return on invested capital | - | - | - | - | - | - |
| Liquidity | ||||||
| Current ratio | 2.03 | 1.90 | 1.64 | 1.45 | 1.55 | 1.66 |
| Quick ratio | 2.03 | 1.90 | 1.64 | 1.45 | 1.55 | 1.66 |
| Cash ratio | 1.02 | 0.84 | 0.57 | 0.42 | 0.57 | 0.86 |
| Leverage | ||||||
| Debt / Equity | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - |
| Equity multiplier | 1.63 | 1.70 | 1.84 | 1.95 | 1.96 | 1.93 |
| Liabilities / Assets | 0.39 | 0.41 | 0.46 | 0.49 | 0.49 | 0.48 |
| Efficiency | ||||||
| Asset turnover | 1.49 | 1.64 | 1.75 | 1.82 | 1.56 | 1.30 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 39d | 42d | 45d | 41d | 47d | 43d |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | 12d | 8d | 10d | 10d | 10d | 11d |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | 25.5x | 61.2x | 59.8x | 50.5x | 46.0x | 40.2x |
| P / B | 7.2x | 18.1x | 6.1x | 5.5x | 4.8x | 2.8x |
| P / S | 2.9x | 6.5x | 1.9x | 1.6x | 1.6x | 1.1x |
| EV / EBITDA | 14.8x | 37.6x | 11.7x | 9.5x | 8.5x | 5.8x |
| Growth | ||||||
| Revenue growth (YoY) | 7.0% | 12.6% | 10.7% | 11.2% | 16.9% | -6.7% |
| Revenue CAGR (3y) | 10.1% | 11.5% | 12.9% | 6.7% | 7.6% | - |
| Revenue CAGR (5y) | 11.6% | 8.6% | 8.9% | - | - | - |
| Gross profit growth (YoY) | 11.0% | 22.2% | 8.5% | 4.0% | 23.0% | -1.8% |
| Operating income growth (YoY) | 18.5% | 27.0% | 12.5% | 0.0% | 42.8% | -2.5% |
| Net income growth (YoY) | 16.0% | 24.8% | 14.9% | -0.1% | 43.3% | -2.2% |
| EPS growth (YoY) | 16.9% | 24.8% | 16.7% | 3.0% | 43.5% | -66.7% |
| EPS CAGR (3y) | 19.4% | 14.5% | 19.9% | -21.0% | -20.8% | -23.1% |
| EPS CAGR (5y) | 20.3% | -6.4% | -9.8% | -7.6% | -4.2% | -9.9% |
| FCF growth (YoY) | 20.4% | 30.8% | 25.1% | 49.6% | -51.5% | 59.2% |
| FCF CAGR (5y) | 7.4% | 13.6% | 2.0% | 18.8% | 12.2% | 17.4% |
| Book value growth (YoY) | 22.4% | 30.0% | 22.5% | -4.8% | -3.6% | 16.2% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2026-03-31.
Product / service
$958.53M totalPatient Management Services$596.70M · 62.3%
Network Solutions Services$361.82M · 37.7%
Stability scores
Altman Z′
FY 2026 · bankruptcy risk
4.44
Safe
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2026 · 9-point quality
6/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- -Long-term debt decreased
- ✓Current ratio improved
- ✓No share dilution
- ✓Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Insurance Agents, Brokers & Service
Comparing CORVEL CORP against the 5 most active filers in the same SIC group.