NASDAQ · Financial Statements

CorVel Corp. (CRVL) Financial Statements

$83.87 NASDAQ: CRVL Market Cap $4.24B

CorVel Corp. most recently reported annual revenue of $959.0M, net profit of $110.0M. Revenue grew at an average annual rate of 11.6% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

CorVel Corp.: Revenue rose from $519.0M in 2017 to $959.0M in 2026, a change of +84.8% over 9 years; net profit was positive in all 10 reported years; operating margin moved from 9.2% to 14.9%, a shift of +5.8 percentage points; the most recent year shows net profit of $110.0M.

Income Statement — 10 Years (USD millions)

Metric2017201820192020202120222023202420252026
Revenue$519.0M$558.0M$596.0M$592.0M$553.0M$646.0M$719.0M$795.0M$896.0M$959.0M
Operating Expenses$471.0M$510.0M$534.0M$532.0M$493.0M$562.0M$634.0M$700.0M$775.0M$815.0M
Operating Profit$48.0M$48.0M$62.0M$61.0M$59.0M$85.0M$85.0M$95.0M$121.0M$143.0M
Operating Margin9.2%8.6%10.3%10.3%10.7%13.1%11.8%12.0%13.5%14.9%
Other Income$0$0$0$0$0$0$0$0$0$0
Interest$0$0$0$0$0$0$0$0$0$0
Depreciation$21.0M$22.0M$23.0M$23.0M$23.0M$24.0M$25.0M$26.0M$30.0M$32.0M
Profit Before Tax$48.0M$48.0M$62.0M$61.0M$59.0M$85.0M$85.0M$95.0M$121.0M$143.0M
Tax$38.0M$25.5M$24.1M$22.0M$21.7M$21.4M$21.5M$19.8M$21.2M$22.9M
Net Profit$29.0M$36.0M$47.0M$47.0M$46.0M$66.0M$66.0M$76.0M$95.0M$110.0M
EPS$1.51$1.87$2.46$2.56$2.50$1.22$1.26$1.47$1.83$2.14
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricSep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26Jun '26
Revenue$196.0M$202.0M$207.0M$212.0M$224.0M$228.0M$232.0M$235.0M$240.0M$236.0M$249.0M$260.0M
Operating Expenses$171.0M$180.0M$185.0M$184.0M$196.0M$197.0M$198.0M$199.0M$204.0M$203.0M$209.0M$217.0M
Operating Profit$25.0M$22.0M$23.0M$28.0M$29.0M$31.0M$33.0M$35.0M$36.0M$32.0M$40.0M$43.0M
Operating Margin12.6%11.1%10.9%13.2%12.8%13.5%14.4%15.0%15.0%13.7%16.0%16.7%
Interest$0$0$0$0$0$0$0$0$0$0$0$0
Profit Before Tax$25.0M$22.0M$23.0M$28.0M$29.0M$31.0M$33.0M$35.0M$36.0M$32.0M$40.0M$43.0M
Tax$19.5M$23.6M$13.9M$23.0M$18.4M$22.8M$20.7M$22.8M$22.3M$25.0M$21.9M$25.6M
Net Profit$20.0M$17.0M$19.0M$22.0M$23.0M$24.0M$26.0M$27.0M$28.0M$24.0M$31.0M$32.0M
EPS$0.38$0.33$0.37$0.42$0.45$0.46$0.51$0.52$0.54$0.47$0.61$0.63

Over the 10 years reported for CorVel Corp., cash stood at $233.0M in the latest year, shareholders' equity was $0, current assets covered current liabilities 2.03 times.

Balance Sheet — 10 Years (USD millions)

Metric2017201820192020202120222023202420252026
Total Assets$235.0M$274.0M$318.0M$416.0M$425.0M$415.0M$394.0M$455.0M$546.0M$643.0M
Current Assets$129.0M$163.0M$215.0M$209.0M$269.0M$265.0M$244.0M$302.0M$387.0M$462.0M
Cash$29.0M$56.0M$92.0M$83.0M$140.0M$98.0M$71.0M$106.0M$171.0M$233.0M
Inventory$0$0$0$0$0$0$0$0$0$0
Receivables$63.0M$65.0M$71.0M$66.0M$65.0M$83.0M$81.0M$97.0M$104.0M$101.0M
Fixed Assets$63.0M$69.0M$62.0M$167.0M$116.0M$111.0M$110.0M$110.0M$113.0M$139.0M
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$2.0M$1.0M$0$0$0$0$0$0$0$0
Other Assets$37.0M$37.0M$37.0M$37.0M$37.0M$37.0M$37.0M$37.0M$37.0M$37.0M
Total Liabilities$97.0M$103.0M$123.0M$227.0M$204.0M$203.0M$192.0M$207.0M$224.0M$249.0M
Current Liabilities$90.0M$98.0M$117.0M$134.0M$162.0M$171.0M$168.0M$184.0M$204.0M$228.0M
Borrowings$0$0$0$98.0M$55.0M$43.0M$34.0M$31.0M$28.0M$28.0M
Other Liabilities$97.0M$103.0M$123.0M$128.0M$150.0M$160.0M$158.0M$176.0M$196.0M$221.0M
Equity$0$0$0$0$0$0$0$0$0$0
Reserves$139.0M$171.0M$195.0M$190.0M$220.0M$212.0M$202.0M$248.0M$322.0M$394.0M

For CorVel Corp., operating cash flow was positive in 10 of 10 reported years; free cash flow in the latest year was $110.0M; free cash flow was positive in 10 of 10 years; financing activities used $56.0M in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 10 Years (USD millions)

Metric2017201820192020202120222023202420252026
Operating Cash Flow$52.0M$62.0M$79.0M$81.0M$94.0M$67.0M$82.0M$99.0M$127.0M$156.0M
Investing Cash Flow$-62.0M$-55.0M$-31.0M$-65.0M$-34.0M$-60.0M$-53.0M$-58.0M$-72.0M$-91.0M
Financing Cash Flow$-25.0M$-7.0M$-27.0M$-57.0M$-21.0M$-80.0M$-82.0M$-36.0M$-27.0M$-56.0M
Net Cash Flow$-4.0M$27.0M$36.0M$-8.0M$56.0M$-42.0M$-26.0M$34.0M$65.0M$62.0M
Free Cash Flow$21.0M$34.0M$63.0M$48.0M$77.0M$37.0M$56.0M$70.0M$92.0M$110.0M

Valuation & Return Ratios

MetricValue
PEG Ratio2.24
EV / EBITDA19.44
FCF Yield2.99%
Quick Ratio1.94
Interest Coverage—
Return 1Y-23.04%
Return 3Y-3.68%
Return 5Y28.55%

CorVel Corp. (CRVL) financials — frequently asked questions

What is CorVel Corp.'s annual revenue?

CorVel Corp. (CRVL) reported annual revenue of $959.0M in its most recent fiscal year.

What is CorVel Corp.'s net profit?

CorVel Corp. (CRVL) reported net profit of $110.0M in its most recent fiscal year.

What is CRVL EV/EBITDA?

CorVel Corp.'s enterprise value to EBITDA (EV/EBITDA) ratio is 19.44.

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