CorVel (CRVL) financial statements
CorVel reported revenue of $959M in fiscal 2026, up 7.1% a year over 9 years.
Net income was $110M.
Free cash flow was $110M, and the company returned $56M in net buybacks.
The diluted share count fell 12% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from CorVel's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $519M | $558M | $596M | $592M | $553M | $646M | $719M | $795M | $896M | $959M |
| Cost of revenue | $414M | $451M | $471M | $466M | $429M | $494M | $560M | $624M | $686M | $726M |
| Gross profit | $105M | $107M | $125M | $126M | $124M | $152M | $158M | $172M | $210M | $233M |
| Selling, general and admin | $57M | $59M | $63M | $65M | $64M | $68M | $74M | $77M | $89M | $90M |
| Pre-tax income | $48M | $48M | $62M | $61M | $59M | $85M | $85M | $95M | $121M | $143M |
| Income tax | $18M | $12M | $15M | $13M | $13M | $18M | $18M | $19M | $26M | $33M |
| Net income | $29M | $36M | $47M | $47M | $46M | $66M | $66M | $76M | $95M | $110M |
| EPS (diluted) | $0.50 | $0.62 | $0.82 | $0.85 | $0.85 | $1.22 | $1.26 | $1.47 | $1.83 | $2.14 |
| Diluted shares | 59M | 57M | 57M | 56M | 54M | 54M | 53M | 52M | 52M | 52M |
| Gross margin | 20.2% | 19.2% | 21.0% | 21.3% | 22.4% | 23.5% | 22.0% | 21.6% | 23.4% | 24.3% |
| Net margin | 5.7% | 6.4% | 7.8% | 8.0% | 8.4% | 10.3% | 9.2% | 9.6% | 10.6% | 11.5% |
Balance sheet
Fiscal years, from CorVel's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $29M | $56M | $92M | $83M | $140M | $98M | $71M | $106M | $171M | $233M |
| Receivables | $63M | $65M | $71M | $66M | $65M | $83M | $81M | $97M | $104M | $101M |
| Total current assets | $129M | $163M | $215M | $209M | $269M | $265M | $244M | $302M | $387M | $462M |
| Property, plant and equipment | $63M | $69M | $62M | $76M | $71M | $76M | $83M | $86M | $92M | $118M |
| Goodwill | $37M | $37M | $37M | $37M | $37M | $37M | $37M | $37M | $37M | $37M |
| Total assets | $235M | $274M | $318M | $416M | $425M | $415M | $394M | $455M | $546M | $643M |
| Total current liabilities | $90M | $98M | $117M | $134M | $162M | $171M | $168M | $184M | $204M | $228M |
| Total liabilities | $97M | $103M | $123M | $227M | $204M | $203M | $192M | $207M | $224M | $249M |
| Shareholders' equity | $139M | $171M | $195M | $190M | $220M | $212M | $202M | $248M | $322M | $394M |
| Net debt | -$29M | -$56M | -$92M | -$83M | -$140M | -$98M | -$71M | -$106M | -$171M | -$233M |
Cash flow
Fiscal years, from CorVel's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $52M | $62M | $79M | $81M | $94M | $67M | $82M | $99M | $127M | $156M |
| Capital spending | $31M | $28M | $15M | $32M | $17M | $30M | $26M | $29M | $36M | $45M |
| Free cash flow | $21M | $34M | $63M | $48M | $77M | $37M | $56M | $70M | $92M | $110M |
| Stock-based compensation | $2M | $3M | $4M | $4M | $5M | $5M | $6M | $5M | $6M | $5M |
| Share buybacks (net) | -$28M | -$11M | -$35M | -$66M | -$33M | -$90M | -$94M | -$46M | -$38M | -$56M |
| Free cash flow margin | 4.1% | 6.2% | 10.6% | 8.2% | 14.0% | 5.8% | 7.8% | 8.8% | 10.2% | 11.5% |
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Open CRVL in InvestinglyQuestions
What was CorVel's revenue in 2026?
$959M in fiscal 2026, from its 10-K filing.
How much free cash flow does CorVel generate?
$110M in fiscal 2026 (operating cash flow minus capital spending).
From CorVel's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.