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CRVL logoCorVel Corporation(CRVL)Earnings, Financials & Key Ratios

CRVL•NASDAQ•Insurance & Managed Care
$55.37
$2.84B mkt cap·30.3× P/E·Price updated May 6, 2026
SectorFinancial ServicesIndustryInsurance BrokersSub-IndustryClaims and cost containment services
AboutCorVel Corporation provides workers' compensation, auto, liability, and health solutions for employers, third party administrators, insurance companies, and government agencies to assist them in managing the medical costs and monitoring the quality of care associated with healthcare claims. It applies technology, including artificial intelligence, machine learning, and natural language processing to enhance the managing of episodes of care and the related health care costs. The company offers network solutions services, including automated medical fee auditing, preferred provider management and reimbursement services, retrospective utilization review, facility claim review, professional review, pharmacy services, directed care services, Medicare solutions, clearinghouse services, independent medical examinations, and inpatient medical bill review. It also provides a range of patient management services, such as claims management, case management, 24/7 nurse triage, utilization management, vocational rehabilitation, and life care planning, as well as processing of claims for self-insured payors with respect to property and casualty insurance. The company was incorporated in 1987 and is headquartered in Fort Worth, Texas.Show more
  • Revenue$896M+12.6%
  • Combined Ratio86.51%-1.7%
  • Net Income$95M+24.8%
  • Return on Equity33.41%-1.4%
  • Medical Cost Ratio76.58%-2.3%
  • Operating Margin13.49%+12.8%
  • Net Margin10.63%+10.8%
  • ROA19.02%+5.8%
  • Equity / Assets58.97%+8.3%
  • Book Value per Share6.19+30.0%
  • Tangible BV/Share5.47+35.6%
  • Debt/Equity0.09-31.2%
Technical→

CRVL Key Insights

CorVel Corporation (CRVL) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓Profitable underwriting: 86.5% combined ratio
  • ✓Excellent 3Y average ROE of 33.1%
  • ✓Strong Piotroski F-Score: 8/9

✗Weaknesses

  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

CRVL Price & Volume

CorVel Corporation (CRVL) stock price & volume — 10-year historical chart

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CRVL Growth Metrics

CorVel Corporation (CRVL) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years6.16%
5 Years8.62%
3 Years11.49%
TTM8.06%

Profit CAGR

10 Years12.78%
5 Years14.97%
3 Years12.74%
TTM19.88%

EPS CAGR

10 Years2.94%
5 Years-6.49%
3 Years14.47%
TTM20%

Return on Capital

10 Years32.3%
5 Years33.78%
3 Years37.93%
Last Year39.48%

CRVL Recent Earnings

CorVel Corporation (CRVL) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
Q1 2026Latest
Feb 3, 2026
EPS
$0.47
Revenue
$236M
Q4 2025
Nov 4, 2025
EPS
$0.54
Revenue
$240M
Q3 2025
Aug 5, 2025
EPS
$0.52
Revenue
$235M
Q2 2025
May 22, 2025
EPS
$0.51
Revenue
$232M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q1 2026LatestFeb 3, 2026
$0.47
$236M
Q4 2025Nov 4, 2025
$0.54
$240M
Q3 2025Aug 5, 2025
$0.52
$235M
Q2 2025May 22, 2025
$0.51
$232M
Based on last 12 quarters of dataView full earnings history →

CRVL Peer Comparison

CorVel Corporation (CRVL) competitors in Claims and cost containment services — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
MGRC logoMGRCMcGrath RentCorpDirect Competitor2.78B113.0617.803.65%16.38%12.84%0.43
GBLI logoGBLIGlobal Indemnity Group, LLCDirect Competitor384.47M26.7915.312.02%7.45%0.02%0.01
MCRB logoMCRBSeres Therapeutics, Inc.Direct Competitor77.06M8.0012.50-40.89%-127.3%1.88
AMSF logoAMSFAMERISAFE, Inc.Direct Competitor556.33M29.6011.982.63%14.27%9.68%0.00
EHTH logoEHTHeHealth, Inc.Direct Competitor62.15M2.00-5.884.06%3.78%2.39%0.14
PINC logoPINCPremier, Inc.Direct Competitor2.34B28.26128.45-10.86%-2.42%-1.59%0.18
MCK logoMCKMcKesson CorporationProduct Competitor91.09B743.6728.9116.22%1.09%
TDOC logoTDOCTeladoc Health, Inc.Product Competitor1.23B6.80-5.96-1.54%-6.81%-12.37%0.75

Compare CRVL vs Peers

CorVel Corporation (CRVL) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs MGRC

Most directly comparable listed peer for CRVL.

Scale Benchmark

vs UNH

Larger-name benchmark to compare CRVL against a more recognizable public peer.

Peer Set

Compare Top 5

vs MGRC, GBLI, MCRB, AMSF

CRVL Income Statement

CorVel Corporation (CRVL) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Revenue518.69M558.35M595.74M592.23M552.64M646.23M718.56M795.31M895.59M941.49M
Revenue Growth %3%7.65%6.7%-0.59%-6.68%16.93%11.19%10.68%12.61%8.06%
Medical Costs & Claims413.89M451.1M470.93M466.3M429.02M494.12M560.3M623.62M685.86M713.67M
Medical Cost Ratio %79.8%80.79%79.05%78.74%77.63%76.46%77.98%78.41%76.58%75.8%
Gross Profit
104.79M▲ 0%
107.25M▲ 2.3%
124.81M▲ 16.4%
125.92M▲ 0.9%
123.62M▼ 1.8%
152.11M▲ 23.0%
158.26M▲ 4.0%
171.69M▲ 8.5%
209.73M▲ 22.2%
227.82M▲ 0%
Gross Margin %20.2%19.21%20.95%21.26%22.37%23.54%22.02%21.59%23.42%24.2%
Gross Profit Growth %0.24%2.35%16.37%0.89%-1.82%23.05%4.04%8.49%22.15%-
Operating Expenses57.24M59.35M63.3M65.21M64.45M67.6M73.7M76.59M88.9M91.09M
OpEx / Revenue %11.04%10.63%10.62%11.01%11.66%10.46%10.26%9.63%9.93%9.67%
Depreciation & Amortization20.97M21.77M22.98M22.52M23.44M23.92M25.12M26.25M29.54M30.88M
Combined Ratio %90.83%91.42%89.67%89.75%89.29%86.92%88.23%88.04%86.51%85.48%
Operating Income
47.55M▲ 0%
47.9M▲ 0.7%
61.51M▲ 28.4%
60.71M▼ 1.3%
59.17M▼ 2.5%
84.51M▲ 42.8%
84.55M▲ 0.0%
95.1M▲ 12.5%
120.82M▲ 27.0%
136.74M▲ 0%
Operating Margin %9.17%8.58%10.33%10.25%10.71%13.08%11.77%11.96%13.49%14.52%
Operating Income Growth %3.23%0.74%28.41%-1.3%-2.53%42.82%0.05%12.47%27.05%-
EBITDA68.52M69.68M84.5M83.23M82.61M108.43M109.67M121.35M150.36M167.61M
EBITDA Margin %13.21%12.48%14.18%14.05%14.95%16.78%15.26%15.26%16.79%17.8%
Interest Expense0000000000
Non-Operating Income0000000000
Pretax Income
47.55M▲ 0%
47.9M▲ 0.7%
61.51M▲ 28.4%
60.71M▼ 1.3%
59.17M▼ 2.5%
84.51M▲ 42.8%
84.55M▲ 0.0%
95.1M▲ 12.5%
120.82M▲ 27.0%
136.74M▲ 0%
Pretax Margin %9.17%8.58%10.33%10.25%10.71%13.08%11.77%11.96%13.49%14.52%
Income Tax18.07M12.21M14.81M13.33M12.82M18.1M18.19M18.85M25.66M31M
Effective Tax Rate %38%25.48%24.08%21.96%21.66%21.42%21.51%19.82%21.24%22.67%
Net Income
29.48M▲ 0%
35.7M▲ 21.1%
46.7M▲ 30.8%
47.38M▲ 1.4%
46.36M▼ 2.2%
66.41M▲ 43.3%
66.36M▼ 0.1%
76.25M▲ 14.9%
95.17M▲ 24.8%
105.73M▲ 0%
Net Margin %5.68%6.39%7.84%8%8.39%10.28%9.24%9.59%10.63%11.23%
Net Income Growth %3.34%21.09%30.84%1.44%-2.16%43.26%-0.07%14.9%24.8%19.88%
EPS (Diluted)
1.51▲ 0%
1.87▲ 23.8%
2.46▲ 31.6%
2.56▲ 4.1%
2.50▼ 2.3%
1.22▼ 51.2%
1.26▲ 3.3%
1.47▲ 16.7%
1.83▲ 24.5%
2.05▲ 0%
EPS Growth %5.59%23.84%31.55%4.06%-2.34%-51.2%3.28%16.67%24.49%20%
EPS (Basic)0.510.630.830.860.861.251.281.481.85-
Diluted Shares Outstanding19.57M19.04M19.01M18.54M18.54M54.38M52.78M52.04M52.04M51.58M

CRVL Balance Sheet

CorVel Corporation (CRVL) balance sheet — assets, liabilities & shareholders' equity

Line itemMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Total Assets235.38M274M318.02M416.26M424.76M415.25M393.92M454.68M545.98M644.78M
Asset Growth %6.86%16.41%16.06%30.89%2.04%-2.24%-5.13%15.42%20.08%80.6%
Total Investment Assets1.97M1.08M200K0000000
Long-Term Investments1.97M1.08M200K0000000
Short-Term Investments0000000000
Total Current Assets128.87M163.32M215.49M208.99M268.94M264.99M243.77M302.23M386.69M463.92M
Cash & Equivalents28.61M55.77M91.71M83.22M139.72M97.5M71.33M105.56M170.58M230.03M
Receivables62.84M64.94M71.34M65.77M64.72M82.59M81.03M97.11M104.13M413.12M
Other Current Assets32.47M35.5M0000000115.43M
Goodwill & Intangibles40.66M40.23M39.79M39.35M38.92M38.48M38.06M37.63M37.25M158.92M
Goodwill36.81M36.81M36.81M36.81M36.81M36.81M36.81M36.81M36.81M47.29M
Intangible Assets3.85M3.42M2.98M2.54M2.1M1.67M1.24M821K438K0
PP&E (Net)63.04M69.36M61.98M166.57M115.94M111.29M110.49M109.95M112.88M133.57M
Other Assets-14.43M-10.91M-11.57M1.35M345K481K1.38M1.32M454K0
Total Liabilities96.74M102.83M123.21M226.55M204.36M202.85M191.75M207.03M223.99M269.06M
Total Debt00098.32M54.66M43.14M33.76M31.4M28.08M37.23M
Net Debt-28.61M-55.77M-91.71M15.1M-85.05M-54.36M-37.57M-74.17M-142.5M-192.8M
Long-Term Debt00000000018.62M
Short-Term Debt0000000000
Total Current Liabilities90.05M97.99M116.92M133.69M162.46M171.37M167.89M184.5M204.04M250.45M
Accounts Payable13.87M11.79M9.93M15.14M12.35M14.08M15.06M16.41M15.42M30M
Deferred Revenue42.57M50.81M62.17M66.64M79.01M95.58M107M118.1M132.28M0
Other Current Liabilities01.67M-4.16M0000000
Deferred Taxes1000K1000K1000K1000K01000K0000
Other Liabilities000000000-18.62M
Total Equity
138.65M▲ 0%
171.18M▲ 23.5%
194.81M▲ 13.8%
189.71M▼ 2.6%
220.4M▲ 16.2%
212.4M▼ 3.6%
202.18M▼ 4.8%
247.65M▲ 22.5%
321.99M▲ 30.0%
375.72M▲ 0%
Equity Growth %5.08%23.46%13.8%-2.61%16.18%-3.63%-4.81%22.49%30.02%113.01%
Shareholders Equity138.65M171.18M194.81M189.71M220.4M212.4M202.18M247.65M321.99M375.72M
Minority Interest0000000000
Retained Earnings422.76M458.46M505.16M552.54M598.89M665.3M731.67M807.92M903.09M982.4M
Common Stock3K3K3K3K3K3K3K3K5K260.84M
Accumulated OCI-143.74M000000000
Return on Equity (ROE)21.79%23.04%25.52%24.64%22.61%30.69%32.02%33.9%33.41%28.14%
Return on Assets (ROA)12.94%14.01%15.78%12.9%11.02%15.81%16.4%17.97%19.02%16.4%
Equity / Assets58.9%62.47%61.26%45.58%51.89%51.15%51.32%54.47%58.97%58.27%
Debt / Equity---0.52x0.25x0.20x0.17x0.13x0.09x0.09x
Book Value per Share7.088.9910.2510.2311.893.913.834.766.197.28
Tangible BV per Share5.016.888.168.119.793.203.114.045.476.37

CRVL Cash Flow Statement

CorVel Corporation (CRVL) cash flow — operating, investing & free cash flow history

Line itemMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Cash from Operations52.05M62.15M78.64M80.83M94.38M67.22M82.29M99.24M127.31M127.31M
Operating CF Growth %1.44%19.4%26.53%2.78%16.77%-28.77%22.41%20.6%28.29%-1.44%
Operating CF / Revenue %10.04%11.13%13.2%13.65%17.08%10.4%11.45%12.48%14.22%13.52%
Net Income29.48M35.7M46.7M47.38M46.36M66.41M66.36M76.25M95.17M105.73M
Depreciation & Amortization20.95M21.77M22.98M22.52M23.44M23.92M25.12M26.25M29.54M23.03M
Stock-Based Compensation2.43M3.16M4.35M4.49M4.98M5.2M5.56M4.98M5.71M4.15M
Deferred Taxes-1.22M-874K1.46M1.47M-8.38M2.3M-1.91M-3.32M-5.16M-4.77M
Other Non-Cash Items3.07M3.76M2.18M1.75M2.61M280K1.63M2.12M3.89M-21.2M
Working Capital Changes-2.65M-1.37M966K3.22M25.37M-30.88M-14.47M-7.05M-1.83M-3.99M
Cash from Investing-31.01M-27.69M-15.27M-32.36M-17.24M-29.82M-26.32M-29.24M-35.76M-33.88M
Capital Expenditures-31.04M-27.69M-15.27M-32.36M-17.24M-29.82M-26.32M-29.24M-35.76M-33.88M
Acquisitions0000000000
Purchase of Investments0000000000
Sale/Maturity of Investments0000000000
Other Investing34K000000000
Cash from Financing-25.21M-7.3M-27.42M-56.96M-20.64M-79.61M-82.14M-35.76M-26.54M-24.57M
Dividends Paid0000000000
Share Repurchases-28M-11.19M-35.17M-65.61M-32.67M-90.08M-93.67M-45.71M-37.6M-31.45M
Stock Issued2.79M3.88M7.74M0000000
Debt Issuance (Net)0000000000
Other Financing2.79M3.88M7.74M8.65M12.03M10.47M11.53M9.95M11.07M6.88M
Net Change in Cash
-4.17M▲ 0%
27.16M▲ 751.6%
35.94M▲ 32.3%
-8.49M▼ 123.6%
56.49M▲ 765.4%
-42.21M▼ 174.7%
-26.18M▲ 38.0%
34.23M▲ 230.8%
65.02M▲ 89.9%
-162.94M▲ 0%
Exchange Rate Effect0000000000
Cash at Beginning32.78M28.61M55.77M91.71M83.22M139.72M97.5M71.33M105.56M207.45M
Cash at End28.61M55.77M91.71M83.22M139.72M97.5M71.33M105.56M170.58M0
Free Cash Flow
21.01M▲ 0%
34.46M▲ 64.0%
63.37M▲ 83.9%
48.47M▼ 23.5%
77.14M▲ 59.2%
37.4M▼ 51.5%
55.97M▲ 49.6%
70M▲ 25.1%
91.56M▲ 30.8%
69.08M▲ 0%
FCF Growth %-39.2%64.02%83.86%-23.51%59.15%-51.51%49.64%25.07%30.81%-16.27%
FCF Margin %4.05%6.17%10.64%8.18%13.96%5.79%7.79%8.8%10.22%7.34%
FCF per Share1.071.813.332.614.160.691.061.351.761.76

CRVL Key Ratios

CorVel Corporation (CRVL) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric201720182019202020212022202320242025TTM
Combined Ratio90.83%91.42%89.67%89.75%89.29%86.92%88.23%88.04%86.51%85.48%
Medical Cost Ratio79.8%80.79%79.05%78.74%77.63%76.46%77.98%78.41%76.58%75.8%
Return on Equity (ROE)21.79%23.04%25.52%24.64%22.61%30.69%32.02%33.9%33.41%28.14%
Return on Assets (ROA)12.94%14.01%15.78%12.9%11.02%15.81%16.4%17.97%19.02%16.4%
Equity / Assets58.9%62.47%61.26%45.58%51.89%51.15%51.32%54.47%58.97%58.27%
Book Value / Share7.088.9910.2510.2311.893.913.834.766.197.28
Debt / Equity---0.52x0.25x0.20x0.17x0.13x0.09x0.09x
Revenue Growth3%7.65%6.7%-0.59%-6.68%16.93%11.19%10.68%12.61%8.06%

CRVL SEC Filings & Documents

CorVel Corporation (CRVL) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Feb 3, 2026·SEC

Material company update

Nov 4, 2025·SEC

Material company update

Sep 12, 2025·SEC

10-K Annual Reports

2
FY 2025

May 23, 2025·SEC

FY 2024

May 24, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Feb 5, 2026·SEC

FY 2025

Nov 6, 2025·SEC

FY 2025

Aug 7, 2025·SEC

CRVL Frequently Asked Questions

CorVel Corporation (CRVL) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

CorVel Corporation (CRVL) grew revenue by 12.6% over the past year. This is steady growth.

Yes, CorVel Corporation (CRVL) is profitable, generating $105.7M in net income for fiscal year 2025 (10.6% net margin).

Dividend & Returns

CorVel Corporation (CRVL) has a return on equity (ROE) of 33.4%. This is excellent, indicating efficient use of shareholder capital.

Industry Metrics

CorVel Corporation (CRVL) has a combined ratio of 86.5%. A ratio below 100% indicates underwriting profitability.

Explore More CRVL

CorVel Corporation (CRVL) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

→

Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

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Valuation

DCF intrinsic value, peer multiples & estimates

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