STOCK TITAN

Corvel Corp Financials

CRVL
FY2026 annual
Revenue $958.5M +7.0% YoY
Net Income $110.3M +16.0% YoY
EPS (Diluted) $2.14 +16.9% YoY
Free Cash Flow $110.3M +20.4% YoY
Source SEC Filings (10-K/10-Q) Data as of Jun 30, 2026 Currency USD FYE March

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).

Rhea AI CRVL FY2026

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 21.6% in FY2024 to 24.3% in FY2026, and SG&A was nearly flat in the latest year despite higher sales. That points to fixed-cost absorption: the business did not need overhead to rise in step with revenue, so additional volume translated into better profitability.

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 $233.1M after share repurchases of $56.2M in FY2026, showing that capital returns have been funded by internally generated cash while liquidity continued to strengthen.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Financial health score not available

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.

Piotroski F-Score Partial
6/8

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.

Earnings Quality Cash-Backed
1.41x

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

Export CSV

Earnings & Revenue

Revenue
$958.5M
YoY+7.0%
5Y CAGR+11.6%
10Y CAGR+6.6%

Corvel Corp generated $958.5M in revenue in fiscal year 2026. This represents an increase of 7.0% from the prior year.

Net Income
$110.3M
YoY+16.0%
5Y CAGR+18.9%
10Y CAGR+14.5%

Corvel Corp reported $110.3M in net income in fiscal year 2026. This represents an increase of 16.0% from the prior year.

EPS (Diluted)
$2.14
YoY+16.9%

Corvel Corp earned $2.14 per diluted share (EPS) in fiscal year 2026. This represents an increase of 16.9% from the prior year.

EBITDA

Not reported for fiscal year 2026.

Cash & Balance Sheet

Free Cash Flow
$110.3M
YoY+20.4%
5Y CAGR+7.4%
10Y CAGR+12.3%

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.

Cash & Debt
$233.1M
YoY+36.6%
5Y CAGR+10.8%
10Y CAGR+21.7%

Corvel Corp held $233.1M in cash as of fiscal year 2026; long-term debt is not reported for that period.

Shares Outstanding
51M
YoY-0.9%

Corvel Corp had 51M shares outstanding in fiscal year 2026. This represents a decrease of 0.9% from the prior year.

Dividends Per Share

Not reported for fiscal year 2026.

Margins & Returns

Gross Margin
24.3%
YoY+0.9pp
5Y CAGR+1.9pp
10Y CAGR+3.5pp

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.

Net Margin
11.5%
YoY+0.9pp
5Y CAGR+3.1pp
10Y CAGR+5.8pp

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.

Return on Equity
28.0%
YoY-1.6pp
5Y CAGR+7.0pp
10Y CAGR+6.4pp

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.

Operating Margin

Not reported for fiscal year 2026.

Capital Allocation

Share Buybacks
$56.2M
YoY+49.5%
5Y CAGR+11.5%
10Y CAGR+6.0%

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.

Capital Expenditures
$45.4M
YoY+26.9%
5Y CAGR+21.3%
10Y CAGR+10.5%

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.

R&D Spending

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.

CRVL annual income statement
MetricTTMFY26FY25FY24FY23FY22FY21FY20FY19FY18FY17FY16FY15FY14FY13FY12
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.

CRVL annual balance sheet
MetricFY26FY25FY24FY23FY22FY21FY20FY19FY18FY17FY16FY15FY14FY13FY12
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.

CRVL annual cash flow statement
MetricTTMFY26FY25FY24FY23FY22FY21FY20FY19FY18FY17FY16FY15FY14FY13FY12
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%-$17.4MN/AN/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%-$26.7MN/AN/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.

CRVL annual financial ratios
MetricFY26FY25FY24FY23FY22FY21FY20FY19FY18FY17FY16FY15FY14FY13FY12
Gross Margin24.3%+0.9pp23.4%+1.8pp21.6%-0.4pp22.0%-1.5pp23.5%+1.2pp22.4%+1.1pp21.3%+0.3pp20.9%+1.7pp19.2%-1.0pp20.2%-0.6pp20.8%+0.5pp20.3%-2.4pp22.7%+1.3pp21.3%-1.4pp22.7%
Net Margin11.5%+0.9pp10.6%+1.0pp9.6%+0.4pp9.2%-1.0pp10.3%+1.9pp8.4%+0.4pp8.0%+0.2pp7.8%+1.4pp6.4%+0.7pp5.7%0.0pp5.7%-0.1pp5.8%-1.4pp7.2%+1.0pp6.2%-0.2pp6.4%
Return on Equity28.0%-1.6pp29.6%-1.2pp30.8%-2.0pp32.8%+1.6pp31.3%+10.2pp21.0%-3.9pp25.0%+1.0pp24.0%+3.1pp20.8%-0.4pp21.3%-0.4pp21.6%-0.7pp22.4%-4.8pp27.2%+3.2pp24.0%-0.1pp24.1%
Return on Assets17.2%-0.3pp17.4%+0.7pp16.8%-0.1pp16.9%+0.9pp16.0%+5.1pp10.9%-0.5pp11.4%-3.3pp14.7%+1.7pp13.0%+0.5pp12.5%-0.4pp13.0%-0.6pp13.5%-2.5pp16.0%+1.4pp14.7%-0.8pp15.4%
Current Ratio2.03+0.1x1.90+0.3x1.64+0.2x1.45-0.1x1.55-0.1x1.66+0.1x1.56-0.3x1.84+0.2x1.67+0.2x1.43-0.1x1.530.0x1.51-0.2x1.68-0.1x1.76-0.1x1.82
Debt-to-Equity0.63-0.1x0.70-0.1x0.84-0.1x0.950.0x0.960.0x0.93-0.3x1.19+0.6x0.630.0x0.60-0.1x0.700.0x0.670.0x0.650.0x0.70+0.1x0.64+0.1x0.56
FCF Margin11.5%+1.3pp10.2%+1.4pp8.8%+1.0pp7.8%+2.0pp5.8%-8.2pp14.0%+5.8pp8.2%-2.5pp10.6%+4.5pp6.2%+2.1pp4.0%-2.8pp6.9%+2.5pp4.3%-3.3pp7.6%-1.7pp9.3%+6.3pp3.0%

Not reported in any period shown, so not listed: Operating Margin.

Similar Companies

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%.

Corvel Corp (CRVL) reported diluted earnings per share of $2.14 for fiscal year 2026. This represents a 16.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

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.

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.

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.

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.

Corvel Corp (CRVL) generated $155.6M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.

Corvel Corp (CRVL) had $643.0M in total assets as of fiscal year 2026, including both current and long-term assets.

Corvel Corp (CRVL) invested $45.4M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.

Yes, Corvel Corp (CRVL) spent $56.2M on share buybacks during fiscal year 2026, returning capital to shareholders by reducing shares outstanding.

Corvel Corp (CRVL) had 51M shares outstanding as of fiscal year 2026.

Corvel Corp (CRVL) had a current ratio of 2.03 as of fiscal year 2026, which is generally considered healthy.

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.

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.

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.

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.

Back to top