CRVLNasdaqInsurance Agents, Brokers & ServiceFiscal year ends March 31
CORVEL CORP
Financials through Q1 FY2027, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$79.72+0.03 (+0.04%)
Close on Oct 19, 2026
- Market cap
- $4.06B
- P/E (TTM)
- 35.4
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2012 to 2026
Gross margin
24.3%+1.9 pts over 5 years
Net margin
11.5%+3.1 pts over 5 years
Growth rates
Compound annual growth to fiscal 2026
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +7.0% | +10.1% | +11.6% | +6.6% | |
| Gross profit | +11.0% | +13.7% | +13.5% | +8.3% | |
| Net income | +16.0% | +18.5% | +18.9% | +14.5% | |
| EPS, diluted | +16.9% | +19.3% | +20.3% | +16.2% | |
| Free cash flow | +20.4% | +25.4% | +7.4% | +12.3% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2021 | FY2026 | Trend |
|---|---|---|---|---|
| Return on equity | 21.8% | 22.6% | 30.8% | |
| Return on assets | 12.9% | 11.0% | 18.6% | |
| Current ratio | 1.43 | 1.66 | 2.03 | |
| Capex to revenue | 6.0% | 3.1% | 4.7% | |
| Diluted shares | 59M | 54M | 52M |
Where the cash went
Fiscal 2022 to 2026, five years combined
Corvel generated $531.70M from operations and spent $489.77M on capital expenditure, dividends and share buybacks. 34% of that went back into the business.
Generated
$531.70M
Used
$489.77M
Capital expenditure$166.49M34%Dividends$00%Share buybacks$323.28M66%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin11.5%
×Asset turnover1.61×
×Equity multiplier1.66×
=Return on equity, FY202630.8%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2026 | 11.5% | 1.61× | 1.66× | 30.8% |
| FY2025 | 10.6% | 1.79× | 1.76× | 33.4% |
| FY2024 | 9.6% | 1.87× | 1.89× | 33.9% |
| FY2023 | 9.2% | 1.78× | 1.95× | 32.0% |
| FY2022 | 10.3% | 1.54× | 1.94× | 30.7% |
| FY2021 | 8.4% | 1.31× | 2.05× | 22.6% |
| FY2020 | 8.0% | 1.61× | 1.91× | 24.6% |
| FY2019 | 7.8% | 2.01× | 1.62× | 25.5% |
| FY2018 | 6.4% | 2.19× | 1.64× | 23.0% |
| FY2017 | 5.7% | 2.28× | 1.68× | 21.8% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2026 against fiscal 2025
6of 8 tests passed in fiscal 2026. Some tests lack the figures they need.
- ProfitableNet income above zero$110.34M
- Cash generatingOperating cash flow above zero$155.64M
- Return on assets improvedROA up on the prior year20.9% → 20.2%
- Earnings backed by cashOperating cash flow above net income$155.64M vs $110.34M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose1.90 → 2.03
- No dilutionShare count did not rise52M → 52M
- Gross margin improvedGross margin up on the prior year23.42% → 24.29%
- More efficientAsset turnover rose1.97 → 1.76