CorVel (CRVL) | Financial Analysis & Statements
Financial Overview
Latest Annual: 2025Income Metrics
Revenue
895.6M
Gross Profit
209.7M
23.42%
Operating Income
120.8M
13.49%
Net Income
95.2M
10.63%
Balance Sheet Metrics
Total Assets
546.0M
Total Liabilities
224.0M
Shareholders Equity
322.0M
Debt to Equity
0.70
Cash Flow Metrics
Operating Cash Flow
103.0M
Free Cash Flow
91.6M
Revenue & Profitability Trend
CorVel Income Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 895.6M | 795.3M | 718.6M | 646.2M | 552.6M |
| Cost of Goods Sold | 685.9M | 623.6M | 560.3M | 494.1M | 429.0M |
| Gross Profit | 209.7M | 171.7M | 158.3M | 152.1M | 123.6M |
| Operating Expenses | 88.9M | 76.6M | 73.7M | 67.6M | 64.4M |
| Operating Income | 120.8M | 95.1M | 84.6M | 84.5M | 59.2M |
| Pre-tax Income | 120.8M | 95.1M | 84.6M | 84.5M | 59.2M |
| Income Tax | 25.7M | 18.8M | 18.2M | 18.1M | 12.8M |
| Net Income | 95.2M | 76.3M | 66.4M | 66.4M | 46.4M |
| EPS (Diluted) | - | $1.47 | $3.77 | $3.66 | $2.55 |
Income Statement Trend
CorVel Balance Sheet From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Assets | |||||
| Current Assets | 386.7M | 302.2M | 243.8M | 265.0M | 268.9M |
| Non-Current Assets | 159.3M | 152.4M | 150.2M | 150.3M | 155.8M |
| Total Assets | 546.0M | 454.7M | 393.9M | 415.2M | 424.8M |
| Liabilities | |||||
| Current Liabilities | 204.0M | 184.5M | 167.9M | 171.4M | 162.5M |
| Non-Current Liabilities | 20.0M | 22.5M | 23.9M | 31.5M | 41.9M |
| Total Liabilities | 224.0M | 207.0M | 191.7M | 202.9M | 204.4M |
| Equity | |||||
| Total Shareholders Equity | 322.0M | 247.6M | 202.2M | 212.4M | 220.4M |
Balance Sheet Composition
CorVel Cash Flow Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Net Income | 95.2M | 76.3M | 66.4M | 66.4M | 46.4M |
| Operating Cash Flow | 103.0M | 80.5M | 85.7M | 64.6M | 60.6M |
| Investing Activities | |||||
| Capital Expenditures | -35.8M | -29.2M | -26.3M | -29.8M | -17.2M |
| Investing Cash Flow | -35.8M | -29.2M | -26.3M | -29.8M | -17.2M |
| Financing Activities | |||||
| Dividends Paid | - | - | - | - | - |
| Financing Cash Flow | -37.6M | -45.7M | -93.7M | -90.1M | -32.7M |
| Free Cash Flow | 91.6M | 70.0M | 56.0M | 37.4M | 77.1M |
Cash Flow Trend
CorVel Key Financial Ratios
Valuation Ratios
P/E Ratio (TTM)
56.43
Price to Book
16.47
Price to Sales
5.92
Profitability Ratios
Profit Margin
10.63%
Operating Margin
14.39%
Return on Equity
33.41%
Return on Assets
15.09%
Financial Health
Current Ratio
1.90
Debt to Equity
8.72
Beta
1.02
Per Share Data
EPS (TTM)
$1.83
Book Value per Share
$6.27
Revenue per Share
$17.43
Peer Financial Comparison
| Company | Market Cap | P/E Ratio | P/B Ratio | ROE | Profit Margin | Debt/Equity |
|---|---|---|---|---|---|---|
| crvl | 5.3B | 56.43 | 16.47 | 33.41% | 10.63% | 8.72 |
| Marsh & McLennan | 108.0B | 26.88 | 7.68 | 30.53% | 16.13% | 157.13 |
| Arthur J. Gallagher | 83.0B | 50.02 | 3.72 | 9.30% | 13.86% | 60.05 |
| Goosehead Insurance | 3.7B | 82.52 | -17.67 | 77.86% | 9.53% | -2.42 |
| Baldwin Insurance | 2.8B | -107.33 | 4.50 | -5.22% | -2.26% | 151.68 |
| Aon plc | 76.6B | 30.68 | 10.94 | 72.01% | 15.58% | 254.47 |
Financial data is updated regularly. All figures are in the company's reporting currency.