Corvel Corp (CRVL) reported $958.5M in revenue for fiscal year 2026, up 7.0% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Cash-rich scaling is the dominant mechanic, as working-capital discipline and a steadier cost base turn growth into liquidity.
From FY2024 to FY2026, accounts receivable stayed near$100M while revenue climbed to$958.5M , suggesting growth did not require much extra customer financing. That restraint helped operating cash flow reach$155.6M versus net income of$110.3M , so cash conversion improved as the business scaled instead of being absorbed by receivables.
Gross margin rebounded from
The balance sheet became more self-funded, with liabilities relative to equity easing from 0.8x to 0.6x over the last three years. Cash still reached
Financial Health Signals
Corvel Corp does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Corvel Corp passes 6 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Corvel Corp generates $1.41 in operating cash flow ($155.6M OCF vs $110.3M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Corvel Corp generated $958.5M in revenue in fiscal year 2026. This represents an increase of 7.0% from the prior year.
Corvel Corp reported $110.3M in net income in fiscal year 2026. This represents an increase of 16.0% from the prior year.
Corvel Corp earned $2.14 per diluted share (EPS) in fiscal year 2026. This represents an increase of 16.9% from the prior year.
Not reported for fiscal year 2026.
Cash & Balance Sheet
Corvel Corp generated $110.3M in free cash flow in fiscal year 2026, representing cash available after capex. This represents an increase of 20.4% from the prior year.
Corvel Corp held $233.1M in cash as of fiscal year 2026; long-term debt is not reported for that period.
Not reported for fiscal year 2026.
Margins & Returns
Corvel Corp's gross margin was 24.3% in fiscal year 2026, indicating the percentage of revenue retained after direct costs. This is up 0.9 percentage points from the prior year.
Corvel Corp's net profit margin was 11.5% in fiscal year 2026, showing the share of revenue converted to profit. This is up 0.9 percentage points from the prior year.
Corvel Corp's ROE was 28.0% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is down 1.6 percentage points from the prior year.
Not reported for fiscal year 2026.
Capital Allocation
Corvel Corp spent $56.2M on share buybacks in fiscal year 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 49.5% from the prior year.
Corvel Corp invested $45.4M in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents an increase of 26.9% from the prior year.
Not reported for fiscal year 2026.
CRVL Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $983.7M | $958.5M+7.0% | $895.6M+12.6% | $795.3M+10.7% | $718.6M+11.2% | $646.2M+16.9% | $552.6M-6.7% | $592.2M-0.6% | $595.7M+6.7% | $558.4M+7.6% | $518.7M+3.0% | $503.6M+2.2% | $492.6M+2.9% | $478.8M+11.5% | $429.3M+4.0% | $412.7M |
| Cost of Revenue | $739.8M | $725.7M+5.8% | $685.9M+10.0% | $623.6M+11.3% | $560.3M+13.4% | $494.1M+15.2% | $429.0M-8.0% | $466.3M-1.0% | $470.9M+4.4% | $451.1M+9.0% | $413.9M+3.7% | $399.0M+1.6% | $392.7M+6.0% | $370.3M+9.7% | $337.6M+5.9% | $318.8M |
| Gross Profit | $243.9M | $232.9M+11.0% | $209.7M+22.2% | $171.7M+8.5% | $158.3M+4.0% | $152.1M+23.0% | $123.6M-1.8% | $125.9M+0.9% | $124.8M+16.4% | $107.3M+2.3% | $104.8M+0.2% | $104.5M+4.6% | $100.0M-7.8% | $108.5M+18.4% | $91.7M-2.3% | $93.8M |
| SG&A Expenses | $92.7M | $89.7M+0.9% | $88.9M+16.1% | $76.6M+3.9% | $73.7M+9.0% | $67.6M+4.9% | $64.4M-1.2% | $65.2M+3.0% | $63.3M+6.6% | $59.4M+3.7% | $57.2M-2.1% | $58.5M+7.5% | $54.4M+4.7% | $52.0M+8.8% | $47.8M-5.2% | $50.4M |
| Income Tax | $35.9M | $32.8M+27.8% | $25.7M+36.1% | $18.8M+3.6% | $18.2M+0.5% | $18.1M+41.2% | $12.8M-3.9% | $13.3M-10.0% | $14.8M+21.3% | $12.2M-32.4% | $18.1M+3.1% | $17.5M+3.3% | $17.0M-23.2% | $22.1M+28.8% | $17.2M+1.7% | $16.9M |
| Net Income | $115.3M | $110.3M+16.0% | $95.2M+24.8% | $76.3M+14.9% | $66.4M-0.1% | $66.4M+43.3% | $46.4M-2.2% | $47.4M+1.4% | $46.7M+30.8% | $35.7M+21.1% | $29.5M+3.3% | $28.5M-0.2% | $28.6M-16.9% | $34.4M+28.7% | $26.7M+0.7% | $26.6M |
| EPS (Diluted) | — | $2.14+16.9% | $1.83 | $1.47+16.7% | $1.26 | $3.66+43.5% | $2.550.0% | $2.55+3.7% | $2.46+31.6% | $1.87+23.8% | $1.51+5.6% | $1.43+4.4% | $1.37-14.9% | $1.61+35.3% | $1.19 | $1.14 |
Not reported in any period shown, so not listed: R&D Expenses, Operating Income, Interest Expense.
TTM is the trailing twelve months, Q2 FY2026 through Q1 FY2027, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
CRVL Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $643.0M+17.8% | $546.0M+20.1% | $454.7M+15.4% | $393.9M-5.1% | $415.2M-2.2% | $424.8M+2.0% | $416.3M+30.9% | $318.0M+16.1% | $274.0M+16.4% | $235.4M+6.9% | $220.3M+4.1% | $211.6M-1.4% | $214.5M+17.6% | $182.4M+6.1% | $171.9M |
| Current Assets | $462.3M+19.6% | $386.7M+27.9% | $302.2M+24.0% | $243.8M-8.0% | $265.0M-1.5% | $268.9M+28.7% | $209.0M-3.0% | $215.5M+31.9% | $163.3M+26.7% | $128.9M+4.7% | $123.1M+9.9% | $112.0M-7.4% | $121.0M+30.2% | $92.9M+14.3% | $81.2M |
| Cash & Equivalents | $233.1M+36.6% | $170.6M+61.6% | $105.6M+48.0% | $71.3M-26.8% | $97.5M-30.2% | $139.7M+67.9% | $83.2M-9.3% | $91.7M+64.4% | $55.8M+94.9% | $28.6M-12.7% | $32.8M+28.5% | $25.5M-26.8% | $34.9M+75.9% | $19.8M+200.5% | $6.6M |
| Accounts Receivable | $101.3M-2.7% | $104.1M+7.2% | $97.1M+19.8% | $81.0M-1.9% | $82.6M+27.6% | $64.7M-1.6% | $65.8M-7.8% | $71.3M+9.8% | $64.9M+3.3% | $62.8M+5.2% | $59.7M+3.8% | $57.5M+0.5% | $57.2M+16.5% | $49.1M-0.5% | $49.3M |
| Goodwill | $36.8M0.0% | $36.8M0.0% | $36.8M0.0% | $36.8M0.0% | $36.8M0.0% | $36.8M0.0% | $36.8M0.0% | $36.8M0.0% | $36.8M0.0% | $36.8M0.0% | $36.8M0.0% | $36.8M0.0% | $36.8M0.0% | $36.8M0.0% | $36.8M |
| Total Liabilities | $248.8M+11.1% | $224.0M+8.2% | $207.0M+8.0% | $191.7M-5.5% | $202.9M-0.7% | $204.4M-9.8% | $226.5M+83.9% | $123.2M+19.8% | $102.8M+6.3% | $96.7M+9.5% | $88.3M+5.6% | $83.7M-4.9% | $88.0M+23.9% | $71.0M+15.4% | $61.5M |
| Current Liabilities | $228.1M+11.8% | $204.0M+10.6% | $184.5M+9.9% | $167.9M-2.0% | $171.4M+5.5% | $162.5M+21.5% | $133.7M+14.3% | $116.9M+19.3% | $98.0M+8.8% | $90.1M+12.0% | $80.4M+8.5% | $74.1M+3.1% | $71.8M+36.2% | $52.8M+17.9% | $44.8M |
| Total Equity | $394.2M+22.4% | $322.0M+30.0% | $247.6M+22.5% | $202.2M-4.8% | $212.4M-3.6% | $220.4M+16.2% | $189.7M-2.6% | $194.8M+13.8% | $171.2M+23.5% | $138.6M+5.1% | $131.9M+3.1% | $127.9M+1.1% | $126.5M+13.6% | $111.4M+0.9% | $110.4M |
| Retained Earnings | $1.0B+12.2% | $903.1M+11.8% | $807.9M+10.4% | $731.7M+10.0% | $665.3M+11.1% | $598.9M+8.4% | $552.5M+9.4% | $505.2M+10.2% | $458.5M+8.4% | $422.8M+7.5% | $393.3M+7.8% | $364.8M+8.5% | $336.2M+11.4% | $301.8M+9.7% | $275.0M |
Not reported in any period shown, so not listed: Inventory, Long-Term Debt.
CRVL Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $150.6M | $155.6M+22.2% | $127.3M+28.3% | $99.2M+20.6% | $82.3M+22.4% | $67.2M-28.8% | $94.4M+16.8% | $80.8M+2.8% | $78.6M+26.5% | $62.2M+19.4% | $52.1M+1.4% | $51.3M+15.8% | $44.3M-19.1% | $54.8M0.0% | $54.8M+53.7% | $35.7M |
| Capital Expenditures | $36.7M | $45.4M+26.9% | $35.8M+22.3% | $29.2M+11.1% | $26.3M-11.7% | $29.8M+72.9% | $17.2M-46.7% | $32.4M+111.9% | $15.3M-44.8% | $27.7M-10.8% | $31.0M+85.3% | $16.8M-26.7% | $22.9M+24.7% | $18.3M+23.2% | $14.9M-35.9% | $23.2M |
| Free Cash Flow | $113.8M | $110.3M+20.4% | $91.6M+30.8% | $70.0M+25.1% | $56.0M+49.6% | $37.4M-51.5% | $77.1M+59.2% | $48.5M-23.5% | $63.4M+83.9% | $34.5M+64.0% | $21.0M-39.2% | $34.6M+61.1% | $21.4M-41.2% | $36.5M-8.7% | $39.9M+220.5% | $12.5M |
| Investing Cash Flow | -$36.7M | -$45.4M-26.9% | -$35.8M-22.3% | -$29.2M-11.1% | -$26.3M+11.7% | -$29.8M-72.9% | -$17.2M+46.7% | -$32.4M-111.9% | -$15.3M+44.8% | -$27.7M+10.7% | -$31.0M-78.7% | -$17.4M | N/A | N/A | -$14.9M+36.0% | -$23.3M |
| Financing Cash Flow | -$60.0M | -$47.8M-80.1% | -$26.5M+25.8% | -$35.8M+56.5% | -$82.1M-3.2% | -$79.6M-285.7% | -$20.6M+63.8% | -$57.0M-107.7% | -$27.4M-275.5% | -$7.3M+71.0% | -$25.2M+5.5% | -$26.7M | N/A | N/A | -$26.7M-47.7% | -$18.1M |
| Share Buybacks | $68.6M | $56.2M+49.5% | $37.6M-17.7% | $45.7M-51.2% | $93.7M+4.0% | $90.1M+175.7% | $32.7M-50.2% | $65.6M+86.6% | $35.2M+214.4% | $11.2M-60.0% | $28.0M-11.2% | $31.5M-0.9% | $31.8M+17.0% | $27.2M-11.5% | $30.7M+42.0% | $21.6M |
Not reported in any period shown, so not listed: Dividends Paid.
TTM is the trailing twelve months, Q2 FY2026 through Q1 FY2027, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
CRVL Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 24.3%+0.9pp | 23.4%+1.8pp | 21.6%-0.4pp | 22.0%-1.5pp | 23.5%+1.2pp | 22.4%+1.1pp | 21.3%+0.3pp | 20.9%+1.7pp | 19.2%-1.0pp | 20.2%-0.6pp | 20.8%+0.5pp | 20.3%-2.4pp | 22.7%+1.3pp | 21.3%-1.4pp | 22.7% |
| Net Margin | 11.5%+0.9pp | 10.6%+1.0pp | 9.6%+0.4pp | 9.2%-1.0pp | 10.3%+1.9pp | 8.4%+0.4pp | 8.0%+0.2pp | 7.8%+1.4pp | 6.4%+0.7pp | 5.7%0.0pp | 5.7%-0.1pp | 5.8%-1.4pp | 7.2%+1.0pp | 6.2%-0.2pp | 6.4% |
| Return on Equity | 28.0%-1.6pp | 29.6%-1.2pp | 30.8%-2.0pp | 32.8%+1.6pp | 31.3%+10.2pp | 21.0%-3.9pp | 25.0%+1.0pp | 24.0%+3.1pp | 20.8%-0.4pp | 21.3%-0.4pp | 21.6%-0.7pp | 22.4%-4.8pp | 27.2%+3.2pp | 24.0%-0.1pp | 24.1% |
| Return on Assets | 17.2%-0.3pp | 17.4%+0.7pp | 16.8%-0.1pp | 16.9%+0.9pp | 16.0%+5.1pp | 10.9%-0.5pp | 11.4%-3.3pp | 14.7%+1.7pp | 13.0%+0.5pp | 12.5%-0.4pp | 13.0%-0.6pp | 13.5%-2.5pp | 16.0%+1.4pp | 14.7%-0.8pp | 15.4% |
| Current Ratio | 2.03+0.1x | 1.90+0.3x | 1.64+0.2x | 1.45-0.1x | 1.55-0.1x | 1.66+0.1x | 1.56-0.3x | 1.84+0.2x | 1.67+0.2x | 1.43-0.1x | 1.530.0x | 1.51-0.2x | 1.68-0.1x | 1.76-0.1x | 1.82 |
| Debt-to-Equity | 0.63-0.1x | 0.70-0.1x | 0.84-0.1x | 0.950.0x | 0.960.0x | 0.93-0.3x | 1.19+0.6x | 0.630.0x | 0.60-0.1x | 0.700.0x | 0.670.0x | 0.650.0x | 0.70+0.1x | 0.64+0.1x | 0.56 |
| FCF Margin | 11.5%+1.3pp | 10.2%+1.4pp | 8.8%+1.0pp | 7.8%+2.0pp | 5.8%-8.2pp | 14.0%+5.8pp | 8.2%-2.5pp | 10.6%+4.5pp | 6.2%+2.1pp | 4.0%-2.8pp | 6.9%+2.5pp | 4.3%-3.3pp | 7.6%-1.7pp | 9.3%+6.3pp | 3.0% |
Not reported in any period shown, so not listed: Operating Margin.
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Where Corvel Corp Ranks
Frequently Asked Questions
What is Corvel Corp's annual revenue?
Corvel Corp (CRVL) reported $958.5M in total revenue for fiscal year 2026. This represents a 7.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Corvel Corp's revenue growing?
Corvel Corp (CRVL) revenue grew by 7.0% year-over-year, from $895.6M to $958.5M in fiscal year 2026.
Is Corvel Corp profitable?
Yes, Corvel Corp (CRVL) reported a net income of $110.3M in fiscal year 2026, with a net profit margin of 11.5%.
What is Corvel Corp's gross margin?
Corvel Corp (CRVL) had a gross margin of 24.3% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.
What is Corvel Corp's net profit margin?
Corvel Corp (CRVL) had a net profit margin of 11.5% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.
What is Corvel Corp's return on equity (ROE)?
Corvel Corp (CRVL) has a return on equity of 28.0% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.
What is Corvel Corp's free cash flow?
Corvel Corp (CRVL) generated $110.3M in free cash flow during fiscal year 2026. This represents a 20.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Corvel Corp's operating cash flow?
Corvel Corp (CRVL) generated $155.6M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.
What are Corvel Corp's total assets?
Corvel Corp (CRVL) had $643.0M in total assets as of fiscal year 2026, including both current and long-term assets.
What are Corvel Corp's capital expenditures?
Corvel Corp (CRVL) invested $45.4M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.
What is Corvel Corp's current ratio?
Corvel Corp (CRVL) had a current ratio of 2.03 as of fiscal year 2026, which is generally considered healthy.
What is Corvel Corp's debt-to-equity ratio?
Corvel Corp (CRVL) had a debt-to-equity ratio of 0.63 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Corvel Corp's return on assets (ROA)?
Corvel Corp (CRVL) had a return on assets of 17.2% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.
What is Corvel Corp's Piotroski F-Score?
Corvel Corp (CRVL) has a Piotroski F-Score of 6 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Corvel Corp's earnings high quality?
Corvel Corp (CRVL) has an earnings quality ratio of 1.41x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.