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CorVel (CRVL) | Financial Analysis & Statements

CorVel Corporation | Mid-cap | Financial Services

$92.64

2.86%

CorVel vs Marsh & McLennan CorVel vs Aon plc CorVel vs Goosehead Insurance CorVel vs Baldwin Insurance CorVel vs Arthur J. Gallagher CorVel vs S&P 500 | Market

TL;DR Income Statement Balance Sheet Cash Flow Key Ratios Peer Comparison

TL;DR: Financial Overview - Revenue, Profits & Key Metrics

Latest Quarterly: Jun 2025

Income Metrics

Revenue 234.7M

Gross Profit 56.8M 24.18%

Operating Income 35.3M 15.03%

Net Income 27.2M 11.60%

EPS (Diluted) $0.52

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 28.6M

Free Cash Flow 14.3M

Revenue & Profitability Trend

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This page uses interactive financial charts and dynamic data visualization tools that require JavaScript. For detailed financial analysis:

Available Financial Data:

Income statements (annual and quarterly)
Balance sheets with asset and liability details
Cash flow statements and free cash flow analysis
Key financial ratios and performance metrics
Peer comparison and industry benchmarking

All financial data is displayed in accessible table format below. Use the table headers and structure to analyze trends and compare metrics across different periods.

CorVel Income Statement From 2021 to 2025

Metric	2025	2024	2023	2022	2021
Revenue i	895.6M	795.3M	718.6M	646.2M	552.6M
Cost of Goods Sold i	685.9M	623.6M	560.3M	494.1M	429.0M
Gross Profit i	209.7M	171.7M	158.3M	152.1M	123.6M
Gross Margin % i	23.4%	21.6%	22.0%	23.5%	22.4%
Operating Expenses
Research & Development i	-	-	-	-	-
Selling, General & Administrative i	88.9M	76.6M	73.7M	67.6M	64.4M
Other Operating Expenses i	-	-	-	-	-
Total Operating Expenses i	88.9M	76.6M	73.7M	67.6M	64.4M
Operating Income i	120.8M	95.1M	84.6M	84.5M	59.2M
Operating Margin % i	13.5%	12.0%	11.8%	13.1%	10.7%
Non-Operating Items
Interest Income i	-	-	-	-	-
Interest Expense i	-	-	-	-	-
Other Non-Operating Income	-	-	-	-	-
Pre-tax Income i	120.8M	95.1M	84.6M	84.5M	59.2M
Income Tax i	25.7M	18.8M	18.2M	18.1M	12.8M
Effective Tax Rate % i	21.2%	19.8%	21.5%	21.4%	21.7%
Net Income i	95.2M	76.3M	66.4M	66.4M	46.4M
Net Margin % i	10.6%	9.6%	9.2%	10.3%	8.4%
Key Metrics
EBITDA i	150.4M	121.4M	109.7M	108.4M	82.6M
EPS (Basic) i	$1.85	$1.48	$3.83	$3.74	$2.59
EPS (Diluted) i	$1.83	$1.47	$3.77	$3.66	$2.55
Basic Shares Outstanding i	51379000	51366000	17328000	17753000	17930000
Diluted Shares Outstanding i	51379000	51366000	17328000	17753000	17930000

Income Statement Trend

CorVel Balance Sheet From 2021 to 2025

Metric	2025	2024	2023	2022	2021
Assets
Current Assets
Cash & Equivalents i	170.6M	105.6M	71.3M	97.5M	139.7M
Short-term Investments i	-	-	-	-	-
Accounts Receivable i	57.6M	54.7M	54.4M	55.3M	47.5M
Inventory i	-	-	-	-	-
Other Current Assets	-	-	-	-	-
Total Current Assets i	386.7M	302.2M	243.8M	265.0M	268.9M
Non-Current Assets
Property, Plant & Equipment i	20.8M	24.1M	27.7M	35.0M	45.3M
Goodwill i	74.1M	74.4M	74.9M	75.3M	75.7M
Intangible Assets i	438.0K	821.0K	1.2M	1.7M	2.1M
Long-term Investments	-	-	-	-	-
Other Non-Current Assets	9.2M	4.9M	1.6M	481.0K	958.0K
Total Non-Current Assets i	159.3M	152.4M	150.2M	150.3M	155.8M
Total Assets i	546.0M	454.7M	393.9M	415.2M	424.8M
Liabilities
Current Liabilities
Accounts Payable i	15.4M	16.4M	15.1M	14.1M	12.4M
Short-term Debt i	8.1M	8.9M	9.9M	13.3M	12.8M
Current Portion of Long-term Debt	-	-	-	-	-
Other Current Liabilities	-	-	-	-	-
Total Current Liabilities i	204.0M	184.5M	167.9M	171.4M	162.5M
Non-Current Liabilities
Long-term Debt i	20.0M	22.5M	23.9M	29.8M	41.9M
Deferred Tax Liabilities i	-	-	0	1.7M	0
Other Non-Current Liabilities	-	-	-	-	-
Total Non-Current Liabilities i	20.0M	22.5M	23.9M	31.5M	41.9M
Total Liabilities i	224.0M	207.0M	191.7M	202.9M	204.4M
Equity
Common Stock i	5.0K	3.0K	3.0K	3.0K	3.0K
Retained Earnings i	903.1M	807.9M	731.7M	665.3M	598.9M
Treasury Stock i	831.5M	793.9M	748.2M	654.5M	564.4M
Other Equity	-	-	-	-	-
Total Shareholders Equity i	322.0M	247.6M	202.2M	212.4M	220.4M
Key Metrics
Total Debt i	28.1M	31.4M	33.8M	43.1M	54.7M
Working Capital i	182.7M	117.7M	75.9M	93.6M	106.5M

Balance Sheet Composition

CorVel Cash Flow Statement From 2021 to 2025

Metric	2025	2024	2023	2022	2021
Operating Activities
Net Income i	95.2M	76.3M	66.4M	66.4M	46.4M
Depreciation & Amortization i	29.5M	26.3M	25.1M	23.9M	23.4M
Stock-Based Compensation i	5.7M	5.0M	5.6M	5.2M	5.0M
Working Capital Changes i	-22.3M	-23.6M	-9.5M	-33.2M	-5.8M
Operating Cash Flow i	103.0M	80.5M	85.7M	64.6M	60.6M
Investing Activities
Capital Expenditures i	-35.8M	-29.2M	-26.3M	-29.8M	-17.2M
Acquisitions i	-	-	-	-	-
Investment Purchases i	-	-	-	-	-
Investment Sales i	-	-	-	-	-
Investing Cash Flow i	-35.8M	-29.2M	-26.3M	-29.8M	-17.2M
Financing Activities
Share Repurchases i	-37.6M	-45.7M	-93.7M	-90.1M	-32.7M
Dividends Paid i	-	-	-	-	-
Debt Issuance i	-	-	-	-	-
Debt Repayment i	-	-	-	-	-
Financing Cash Flow i	-37.6M	-45.7M	-93.7M	-90.1M	-32.7M
Free Cash Flow i	91.6M	70.0M	56.0M	37.4M	77.1M
Net Change in Cash i	29.6M	5.6M	-34.3M	-55.3M	10.6M

Cash Flow Trend

CorVel Key Financial Ratios

Valuation Ratios

P/E Ratio (TTM) 46.66

Price to Book 13.49

Price to Sales 5.03

PEG Ratio 1.78

Profitability Ratios

Profit Margin 10.98%

Operating Margin 15.03%

Return on Equity 33.25%

Return on Assets 14.77%

Financial Health

Current Ratio 1.79

Debt to Equity 8.01

Beta 0.95

Per Share Data

EPS (TTM) $1.93

Book Value per Share $6.67

Revenue per Share $17.88

Peer Financial Comparison

Company	Market Cap	P/E Ratio	P/B Ratio	ROE	Profit Margin	Debt/Equity
crvl	4.6B	46.66	13.49	33.25%	10.98%	8.01
Marsh & McLennan	103.7B	25.32	6.58	28.41%	16.00%	135.27
Aon plc	80.9B	31.65	10.32	37.41%	15.54%	224.73
Goosehead Insurance	3.4B	78.50	-17.28	77.86%	8.78%	-2.69
Baldwin Insurance	2.4B	-86.08	3.85	-2.82%	-1.22%	161.64
Arthur J. Gallagher	78.3B	46.27	3.40	9.51%	14.21%	58.01

Financial data is updated regularly. All figures are in the company's reporting currency.