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Corvel Corp (CRVL) Financials

CRVL
Trailing 12 months to June 30, 2026
Revenue $983.7M +7.1% YoY
Net Income $115.3M +14.4% YoY
EPS (Diluted) $2.25 YoY not available
Free Cash Flow $113.8M +15.7% YoY
Market Cap $3.8B as of Oct 6, 2026
Price / Sales 3.9x on $983.7M revenue, trailing 12 months to June 30, 2026
Price / Earnings 33.3x on $115.3M net income, trailing 12 months to June 30, 2026
Price / Book 9.4x on $408.9M equity, Q1 FY2027

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 6, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q1 FY2027, ended Jun 30, 2026 Reported Currency USD FYE March

Newest figures come from the 10-Q for Q1 FY2027, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the CRVL SEC filings page.

Corvel Corp (CRVL) reported $983.7M in revenue over the twelve months to Jun 30, 2026, up 7.1% from the prior twelve months. 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

CorVel is turning faster growth into better margins and cash generation while relying less on balance-sheet leverage.

Revenue expanded across FY2023-FY2026 while net margin rose from 9.2% to 11.5%; SG&A also consumed a smaller share of sales, pointing to operating leverage rather than volume alone. Free cash flow margin rose from 5.8% in FY2022 to 11.5% in FY2026 while operating cash flow exceeded net income in the latest year, indicating improving cash conversion after reinvestment.

Debt-to-equity fell from 1.0x in FY2022 to 0.6x in FY2026 as equity expanded, pointing to a less debt-dependent funding structure. The current ratio reached 2.0x in FY2026, reinforcing greater short-term balance-sheet flexibility.

Gross margin recovered from 21.6% in FY2024 to 24.3% in FY2026 while SG&A grew more slowly than revenue. That combination supports margin recovery plus cost absorption, although the missing operating-income figures prevent precise attribution between mix and cost efficiency.

[ 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

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Earnings & Revenue

Revenue
$259.9M
YoY+10.7%
QoQ+4.6%
5Y CAGR+11.2%
10Y CAGR+7.3%

Corvel Corp generated $259.9M in revenue in Q1 2027. This represents an increase of 10.7% from the same quarter a year earlier. Against the prior quarter it is up 4.6%.

Net Income
$32.2M
YoY+18.3%
QoQ+3.9%
5Y CAGR+13.9%
10Y CAGR+15.7%

Corvel Corp reported $32.2M in net income in Q1 2027. This represents an increase of 18.3% from the same quarter a year earlier. Against the prior quarter it is up 3.9%.

EPS (Diluted)
$0.63
YoY+21.2%
QoQ+3.3%
5Y CAGR-7.3%
10Y CAGR+5.2%

Corvel Corp earned $0.63 per diluted share (EPS) in Q1 2027. This represents an increase of 21.2% from the same quarter a year earlier. Against the prior quarter it is up 3.3%.

EBITDA

Not reported for Q1 2027.

Cash & Balance Sheet

Free Cash Flow
$43.1M
YoY+8.9%
QoQ+112.3%
5Y CAGR+40.0%
10Y CAGR+31.2%

Corvel Corp generated $43.1M in free cash flow in Q1 2027, representing cash available after capex. This represents an increase of 8.9% from the same quarter a year earlier. Against the prior quarter it is up 112.3%.

Cash & Debt
$255.9M
YoY+26.7%
QoQ+9.8%
5Y CAGR+13.0%
10Y CAGR+21.6%

Corvel Corp held $255.9M in cash as of Q1 2027; long-term debt is not reported for that period.

Shares Outstanding
51M
YoY-1.6%
QoQ-0.3%
5Y CAGR+23.2%
10Y CAGR+9.9%

Corvel Corp had 51M shares outstanding in Q1 2027. This represents a decrease of 1.6% from the same quarter a year earlier. Against the prior quarter it is down 0.3%.

Dividends Per Share

Not reported for Q1 2027.

Margins & Returns

Gross Margin
26.1%
YoY+1.9pp
QoQ+0.7pp
5Y change+1.7pp
10Y change+6.2pp

Corvel Corp's gross margin was 26.1% in Q1 2027, indicating the percentage of revenue retained after direct costs. This is up 1.9 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.7 percentage points.

Net Margin
12.4%
YoY+0.8pp
QoQ-0.1pp
5Y change+1.4pp
10Y change+6.6pp

Corvel Corp's net profit margin was 12.4% in Q1 2027, showing the share of revenue converted to profit. This is up 0.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.1 percentage points.

Return on Equity
7.9%
YoY-0.1pp
QoQ0.0pp
5Y change+0.5pp
10Y change+2.5pp

Corvel Corp's ROE was 7.9% in Q1 2027, measuring profit generated per dollar of shareholder equity. This is down 0.1 percentage points from the same quarter a year earlier. It is unchanged from the prior quarter.

Operating Margin

Not reported for Q1 2027.

Capital Allocation

Share Buybacks
$22.0M
YoY+128.4%
QoQ+8.8%
5Y CAGR+9.1%
10Y CAGR+29.6%

Corvel Corp spent $22.0M on share buybacks in Q1 2027, returning capital to shareholders by reducing shares outstanding. This represents an increase of 128.4% from the same quarter a year earlier. Against the prior quarter it is up 8.8%.

Capital Expenditures
$6.8M
YoY-55.8%
QoQ-25.5%
5Y CAGR+1.1%
10Y CAGR+2.6%

Corvel Corp invested $6.8M in capex in Q1 2027, funding long-term assets and infrastructure. This represents a decrease of 55.8% from the same quarter a year earlier. Against the prior quarter it is down 25.5%.

R&D Spending

Not reported for Q1 2027.

CRVL Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

CRVL quarterly income statement
MetricQ1'2710-QQ4'2610-QQ3'2610-QQ2'2610-QQ1'2610-QQ4'2510-KQ3'2510-QQ2'2510-Q
Revenue$259.9M+10.7%$248.5M+7.4%$235.6M+3.4%$239.6M+6.8%$234.7M+10.9%$231.5M+11.7%$228.0M+12.7%$224.4M+14.8%
Cost of Revenue$192.1M+8.0%$185.5M+6.9%$180.7M+3.2%$181.5M+4.5%$177.9M+8.8%$173.5M$175.1M+9.3%$173.6M+14.8%
Gross Profit$67.8M+19.4%$63.0M+8.7%$54.9M+3.9%$58.2M+14.6%$56.8M+17.9%$58.0M+33.6%$52.9M+25.4%$50.7M+14.7%
SG&A Expenses$24.5M+13.9%$23.3M-5.5%$22.7M+2.8%$22.3M+0.9%$21.5M+6.7%$24.6M$22.1M+11.4%$22.1M+13.0%
Income Tax$11.1M+38.1%$8.7M+25.9%$8.1M+14.6%$8.0M+51.6%$8.0M+24.6%$6.9M$7.0M+33.5%$5.3M+9.5%
Net Income$32.2M+18.3%$31.0M+17.4%$24.2M+1.7%$27.9M+19.3%$27.2M+26.2%$26.4M+35.8%$23.8M+39.1%$23.4M+17.6%
EPS (Basic)$0.63+18.9%$0.60+17.6%$0.47+2.2%$0.54+17.4%$0.53+26.2%$0.51-54.9%$0.46+39.4%$0.46-60.3%
EPS (Diluted)$0.63+21.2%$0.61+19.6%$0.47+2.2%$0.54$0.52$0.51$0.46$0.45
Diluted Shares (Avg)51M-1.9%N/A52M-0.9%52M52MN/A52M52M

Not reported in any period shown, so not listed: R&D Expenses, Operating Income, EBITDA, Interest Expense.

CRVL Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

CRVL quarterly balance sheet
MetricQ1'2710-QQ4'2610-QQ3'2610-QQ2'2610-QQ1'2610-QQ4'2510-KQ3'2510-QQ2'2510-Q
Total Assets$689.7M+15.4%$643.0M+17.8%$644.8M+19.7%$611.7M+18.0%$597.4M+22.9%$546.0M+20.1%$538.8M+21.1%$518.6M+19.5%
Current Assets$504.8M+19.7%$462.3M+19.6%$463.9M+21.1%$434.3M+19.5%$421.6M+26.5%$386.7M+27.9%$383.2M+30.2%$363.3M+28.9%
Cash & Equivalents$255.9M+26.7%$233.1M+36.6%$230.0M+41.2%$207.5M+49.9%$202.0M+53.2%$170.6M+61.6%$162.9M+52.3%$138.3M+50.8%
Short-Term Investments$0$0$0$0$0$0$0$0
Accounts Receivable$111.0M+8.8%$101.3M-2.7%$102.1M-3.8%$104.9M+2.5%$102.0M+4.3%$104.1M+7.2%$106.2M+14.6%$102.4M+17.8%
Long-Term Investments$0$0$0$0$0$0$0$0
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%
Total Liabilities$280.8M+10.2%$248.8M+11.1%$269.1M+13.1%$248.9M+5.6%$254.9M+14.7%$224.0M+8.2%$237.9M+12.5%$235.8M+11.5%
Current Liabilities$260.1M+10.6%$228.1M+11.8%$250.4M+15.6%$230.3M+8.2%$235.2M+17.3%$204.0M+10.6%$216.7M+15.0%$212.9M+14.1%
Non-Current Liabilities$20.8M+5.5%$20.7M+3.7%$18.6M-12.1%$18.6M-19.0%$19.7M-9.3%$20.0M-11.4%$21.2M-8.2%$22.9M-8.5%
Total Equity$408.9M+19.4%$394.2M+22.4%$375.7M+24.9%$362.8M+28.3%$342.5M+29.8%$322.0M+30.0%$300.9M+28.8%$282.8M+27.0%
Retained Earnings$1.0B+12.4%$1.0B+12.2%$982.4M+12.1%$958.2M+12.3%$930.3M+12.2%$903.1M+11.8%$876.7M+11.2%$852.9M+10.6%

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. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

CRVL quarterly cash flow statement
MetricQ1'2710-QQ4'2610-QQ3'2610-QQ2'2610-QQ1'2610-QQ4'2510-KQ3'2510-QQ2'2510-Q
Operating Cash Flow$49.9M-9.3%$29.5M+28.6%$46.1M+10.8%$25.0M+12.2%$55.0M+36.0%$22.9M+50.4%$41.6M+41.8%$22.3M+24.0%
Depreciation & Amortization$8.8M+15.5%$8.3M+8.7%$8.1M+7.6%$7.8M+1.7%$7.6M+12.8%$7.6M+13.7%$7.5M+11.2%$7.7M+19.3%
Stock-Based Compensation$1.4M-4.0%N/A$1.4M-25.3%$1.4M-5.7%$1.4M+32.4%N/A$1.8M$1.5M
Capital Expenditures$6.8M-55.8%$9.2M+5.9%$11.0M+15.0%$9.8M-1.3%$15.5M+101.5%$8.7M-13.8%$9.5M+37.8%$9.9M+36.8%
Free Cash Flow$43.1M+8.9%$20.3M+42.3%$35.2M+9.5%$15.3M+22.9%$39.5M+20.7%$14.3M+174.3%$32.1M+43.0%$12.4M+15.4%
Investing Cash Flow-$6.8M+55.8%-$9.2M-5.9%-$11.0M-15.0%-$9.8M+1.3%-$15.5M-101.5%-$8.7M+13.8%-$9.5M-37.8%-$9.9M-36.8%
Financing Cash Flow-$20.3M-150.1%-$17.3M-160.6%-$12.6M-67.5%-$9.8M-64.6%-$8.1M-26.3%-$6.6M+0.1%-$7.5M-4.2%-$6.0M-6.6%
Share Buybacks$22.0M+128.4%$20.2M+124.5%$13.6M+42.8%$12.8M+33.9%$9.6M+1.0%$9.0M-2.0%$9.5M+1.8%$9.6M+1.8%

Not reported in any period shown, so not listed: Dividends Paid.

CRVL Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

CRVL quarterly financial ratios
MetricQ1'2710-QQ4'2610-QQ3'2610-QQ2'2610-QQ1'2610-QQ4'2510-KQ3'2510-QQ2'2510-Q
Gross Margin26.1%+1.9pp25.4%+0.3pp23.3%+0.1pp24.3%+1.7pp24.2%+1.4pp25.0%+4.1pp23.2%+2.3pp22.6%0.0pp
Net Margin12.4%+0.8pp12.5%+1.1pp10.3%-0.2pp11.6%+1.2pp11.6%+1.4pp11.4%+2.0pp10.4%+2.0pp10.4%+0.3pp
Return on Equity7.9%-0.1pp7.9%-0.3pp6.4%-1.5pp7.7%-0.6pp8.0%-0.2pp8.2%+0.3pp7.9%+0.6pp8.3%-0.7pp
Return on Assets4.7%+0.1pp4.8%0.0pp3.8%-0.7pp4.6%+0.1pp4.6%+0.1pp4.8%+0.6pp4.4%+0.6pp4.5%-0.1pp
Current Ratio1.94+0.1x2.03+0.1x1.85+0.1x1.89+0.2x1.79+0.1x1.90+0.3x1.77+0.2x1.71+0.2x
Debt-to-Equity0.69-0.1x0.63-0.1x0.72-0.1x0.69-0.1x0.74-0.1x0.70-0.1x0.79-0.1x0.83-0.1x
Asset Turnover0.380.0x0.390.0x0.37-0.1x0.390.0x0.390.0x0.420.0x0.420.0x0.430.0x
FCF Margin16.6%-0.3pp8.2%+2.0pp14.9%+0.8pp6.4%+0.8pp16.9%+1.4pp6.2%+3.7pp14.1%+3.0pp5.5%0.0pp

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

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company Fiscal year Revenue Net income Net margin Market cap Health score
Corvel Corp CRVL FY2026 $958.5M $110.3M 11.5% $3.8B —
Goosehead Insurance, Inc. GSHD FY2025 $365.3M $27.8M 7.6% $1.1B 8/100
The Baldwin Insurance Group, Inc. BWIN FY2025 $1.5B -$54.2M -3.6% $3.1B 14/100
Willis Towers Watson Public Limited Company WTW FY2025 $9.7B $1.6B 16.5% $26.8B 16/100
Erie Indemnity Co ERIE FY2025 $4.1B $559.3M 13.8% $11.6B 29/100
Aon plc AON FY2025 $17.2B $3.7B 21.5% $57.2B 18/100

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) trades at 33.3x earnings, its market capitalization divided by net income of $115.3M net income, trailing 12 months to June 30, 2026. The market capitalization is $3.8B as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

Corvel Corp (CRVL) trades at 3.9x sales, its market capitalization divided by revenue of $983.7M revenue, trailing 12 months to June 30, 2026. The market capitalization is $3.8B as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

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.

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