CORVEL CORP CRVL

Financials SIC 6411 - Insurance Agents, Brokers & Service NAICS Finance and Insurance › Insurance Carriers and Related Activities › Agencies, Brokerages, and Other Insurance Related Activities › Insurance Agencies and Brokerages derived Nasdaq

CorVel is an independent nationwide provider of medical cost containment and managed care services designed to address the escalating medical costs of workers' compensation benefits, automobile insurance claims, and group health insurance. CorVel applies certain technology, including artificial intelligence, machine learning, and natural language processing, to enhance the management of episodes of care and the related health-care costs. We provide services to insurance companies, third-party administrators ("TPAs"), government entities, and self-administered employers to assist them in managing the increasing medical costs of workers' compensation, group health and auto insurance, and monitoring the quality of care provided to claimants. Our diverse suite of solutions combines our integrated technologies with a human touch. CorVel's customized services, delivered locally, are backed by a national team to support its clients, as well as their customers and patients.

Last close 83.87 2026-10-23
Market cap $4.24B 2026-06-30 share count
52-week range 44.83 - 84.56

Valuation FY2025 figures against the last close

P/S4.4x
P/E39.2x
P/FCF38.4x
EV/EBITDA—
Dividend yield—
Diluted EPS2.14

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $958.5M$895.6M$795.3M$718.6M$646.2M$552.6M$592.2M$595.7M$558.4M$518.7M
Cost of revenue $725.7M$685.9M$623.6M$560.3M$494.1M$429.0M$466.3M$470.9M$451.1M$413.9M
Gross profit $232.9M$209.7M$171.7M$158.3M$152.1M$123.6M$125.9M$124.8M$107.3M$104.8M
SG&A $89.7M$88.9M$76.6M$73.7M$67.6M$64.4M$65.2M$63.3M$59.4M$57.2M
Pre-tax income $143.1M$120.8M$95.1M$84.6M$84.5M$59.2M$60.7M$61.5M$47.9M$47.5M
Income tax $32.8M$25.7M$18.8M$18.2M$18.1M$12.8M$13.3M$14.8M$12.2M$18.1M
Net income $110.3M$95.2M$76.3M$66.4M$66.4M$46.4M$47.4M$46.7M$35.7M$29.5M
EPS, basic 2.151.851.481.283.742.592.592.481.901.52
EPS, diluted 2.141.831.471.263.662.552.552.461.871.51
Shares, diluted (wtd. avg.) 51.6M52.0M52.0M52.8M18.1M18.2M18.6M19.0M19.0M19.6M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $233.1M$170.6M$105.6M$71.3M$97.5M$139.7M$83.2M$91.7M$55.8M$28.6M
Receivables $101.3M$104.1M$97.1M$81.0M$82.6M$64.7M$65.8M$71.3M$64.9M$62.8M
Total current assets $462.3M$386.7M$302.2M$243.8M$265.0M$268.9M$209.0M$215.5M$163.3M$128.9M
Property, plant and equipment $117.9M$92.1M$85.9M$82.8M$76.3M$70.6M$75.9M$62.0M$69.4M$63.0M
Goodwill $36.8M$36.8M$36.8M$36.8M$36.8M$36.8M$36.8M$36.8M$36.8M$36.8M
Other intangibles $263.0K$438.0K$821.0K$1.2M$1.7M$2.1M$2.5M$3.0M$3.4M$3.9M
Total assets $643.0M$546.0M$454.7M$393.9M$415.2M$424.8M$416.3M$318.0M$274.0M$235.4M
Accounts payable $24.3M$15.4M$16.4M$15.1M$14.1M$12.4M$15.1M$9.9M$11.8M$13.9M
Total current liabilities $228.1M$204.0M$184.5M$167.9M$171.4M$162.5M$133.7M$116.9M$98.0M$90.1M
Total liabilities $248.8M$224.0M$207.0M$191.7M$202.9M$204.4M$226.5M$123.2M$102.8M$96.7M
Retained earnings $1.01B$903.1M$807.9M$731.7M$665.3M$598.9M$552.5M$505.2M$458.5M$422.8M
Total equity $394.2M$322.0M$247.6M$202.2M$212.4M$220.4M$189.7M$194.8M$171.2M$138.6M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $155.6M$127.3M$99.2M$82.3M$67.2M$94.4M$80.8M$78.6M$62.2M$52.1M
Depreciation and amortisation $31.8M$29.5M$26.3M$25.1M$23.9M$23.4M$22.5M$23.0M$21.8M$20.9M
Stock-based compensation $5.4M$5.7M$5.0M$5.6M$5.2M$5.0M$4.5M$4.3M$3.2M$2.4M
Capital expenditure $45.4M$35.8M$29.2M$26.3M$29.8M$17.2M$32.4M$15.3M$27.7M$31.0M
Investing cash flow -$45.4M-$35.8M-$29.2M-$26.3M-$29.8M-$17.2M-$32.4M-$15.3M-$27.7M-$31.0M
Financing cash flow -$47.8M-$26.5M-$35.8M-$82.1M-$79.6M-$20.6M-$57.0M-$27.4M-$7.3M-$25.2M
Buybacks $56.2M$37.6M$45.7M$93.7M$90.1M$32.7M$65.6M$35.2M$11.2M$28.0M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-285509.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 250M 500M 750M 1B Revenue, FY2016: 518.7M Gross profit, FY2016: 104.8M Net income, FY2016: 29.5M Revenue, FY2017: 558.4M Gross profit, FY2017: 107.3M Net income, FY2017: 35.7M Revenue, FY2018: 595.7M Gross profit, FY2018: 124.8M Net income, FY2018: 46.7M Revenue, FY2019: 592.2M Gross profit, FY2019: 125.9M Net income, FY2019: 47.4M Revenue, FY2020: 552.6M Gross profit, FY2020: 123.6M Net income, FY2020: 46.4M Revenue, FY2021: 646.2M Gross profit, FY2021: 152.1M Net income, FY2021: 66.4M Revenue, FY2022: 718.6M Gross profit, FY2022: 158.3M Net income, FY2022: 66.4M Revenue, FY2023: 795.3M Gross profit, FY2023: 171.7M Net income, FY2023: 76.3M Revenue, FY2024: 895.6M Gross profit, FY2024: 209.7M Net income, FY2024: 95.2M Revenue, FY2025: 958.5M Gross profit, FY2025: 232.9M Net income, FY2025: 110.3M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $518.7M $558.4M $595.7M $592.2M $552.6M $646.2M $718.6M $795.3M $895.6M $958.5M
Gross profit $104.8M $107.3M $124.8M $125.9M $123.6M $152.1M $158.3M $171.7M $209.7M $232.9M
Net income $29.5M $35.7M $46.7M $47.4M $46.4M $66.4M $66.4M $76.3M $95.2M $110.3M

Recent filings and events

  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Shareholder vote Item 5.07
  • Results announced Item 2.02
  • Annual report filed Form 10-K

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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