CorVel Corporation (CRVL) Key Metrics
CRVL valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $4.03B
- Enterprise value
- $3.47B
- P/E (TTM)
- 35.6 10-yr median 19.6
- Forward P/E
- 23.8
- PEG ratio
- —
- Price / sales
- 4.1 10-yr median 2.0
- Price / book
- 9.1 10-yr median 5.0
- EV / EBITDA
- 19.0 10-yr median 10.8
- Dividend yield
- —
- Beta
- 1.05
CRVL key metrics, FY2017–FY2026
Fiscal year ended March 31, 2026 · U.S. dollarsCRVL valuation Price multiples at each fiscal year-end price.
CRVL returns How much profit the business earns on the capital it uses.
CRVL per-share figures Results divided by the shares outstanding at year-end.
CRVL financial health Debt, liquidity and how easily interest is covered.
CRVL efficiency & capital use Working capital cycle and where the cash goes.
CRVL valuation history
CRVL returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
CRVL debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
CRVL cash returned to shareholders
CRVL price vs earnings per share
CRVL key metrics
FY2017–FY2026| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $2.82B | $5.83B | $4.56B | $3.35B | $3.05B | $633.9M | $336.8M | $413.4M | $320.9M | $283.8M |
| Enterprise value | $2.62B | $5.68B | $4.49B | $3.31B | $3.00B | $548.9M | $351.9M | $327.4M | $265.1M | $255.2M |
| P/E ratio | 25.6 | 61.2 | 59.8 | 50.4 | 46.0 | 13.7 | 7.1 | 8.9 | 9.0 | 9.6 |
| Price / sales | 2.9 | 6.5 | 5.7 | 4.7 | 4.7 | 1.1 | 0.6 | 0.7 | 0.6 | 0.5 |
| Price / book | 7.2 | 18.1 | 18.4 | 16.6 | 14.4 | 2.9 | 1.8 | 2.1 | 1.9 | 2.0 |
| Price / free cash flow | 25.6 | 63.6 | 65.2 | 59.8 | 81.6 | 8.2 | 6.9 | 6.5 | 9.3 | 13.5 |
| Price / operating cash flow | 18.1 | 45.8 | 46.0 | 40.7 | 45.4 | 6.7 | 4.2 | 5.3 | 5.2 | 5.5 |
| EV / sales | 2.7 | 6.3 | 5.6 | 4.6 | 4.6 | 1.0 | 0.6 | 0.5 | 0.5 | 0.5 |
| EV / EBITDA | 15.0 | 37.8 | 37.0 | 30.2 | 27.7 | 6.6 | 4.2 | 3.9 | 3.8 | 3.7 |
| EV / free cash flow | 23.7 | 62.1 | 64.1 | 59.1 | 80.2 | 7.1 | 7.3 | 5.2 | 7.7 | 12.1 |
| Earnings yield | 3.9% | 1.6% | 1.7% | 2.0% | 2.2% | 7.3% | 14.1% | 11.3% | 11.1% | 10.4% |
| Free cash flow yield | 3.9% | 1.6% | 1.5% | 1.7% | 1.2% | 12.2% | 14.4% | 15.3% | 10.7% | 7.4% |
| Dividend yield | — | — | — | — | — | — | — | — | 0.0% | 0.0% |
| Shareholder yield (dividends + buybacks) | 2.0% | 0.6% | 1.0% | 2.8% | 3.0% | 5.2% | 19.5% | 8.5% | 3.5% | 9.9% |
| Share price at fiscal year-end | $54.65 | $111.97 | $87.65 | $63.43 | $56.15 | $34.20 | $18.17 | $21.75 | $16.85 | $14.50 |
| Per share | ||||||||||
| Revenue per share | $18.57 | $17.21 | $15.28 | $13.62 | $11.88 | $29.81 | $31.95 | $31.34 | $29.32 | $26.50 |
| Earnings per share | $2.14 | $1.83 | $1.47 | $1.26 | $1.22 | $2.50 | $2.56 | $2.46 | $1.87 | $1.51 |
| Operating cash flow per share | $3.01 | $2.45 | $1.91 | $1.56 | $1.24 | $5.09 | $4.36 | $4.14 | $3.26 | $2.66 |
| Free cash flow per share | $2.14 | $1.76 | $1.35 | $1.06 | $0.69 | $4.16 | $2.61 | $3.33 | $1.81 | $1.07 |
| Cash per share | $4.51 | $3.28 | $2.03 | $1.35 | $1.79 | $7.54 | $4.49 | $4.82 | $2.93 | $1.46 |
| Book value per share | $7.64 | $6.19 | $4.76 | $3.83 | $3.91 | $11.89 | $10.23 | $10.25 | $8.99 | $7.08 |
| Tangible book value per share | $6.92 | $5.47 | $4.04 | $3.11 | $3.20 | $9.79 | $8.11 | $8.16 | $6.88 | $5.01 |
| Dividends per share | — | — | — | — | — | — | — | — | $0.00 | $0.00 |
| Capex per share | $0.88 | $0.69 | $0.56 | $0.50 | $0.55 | $0.93 | $1.75 | $0.80 | $1.45 | $1.59 |
| Debt per share | $0.54 | $0.54 | $0.60 | $0.64 | $0.79 | $2.95 | $5.30 | $0.30 | $0.00 | $0.00 |
| Shares outstanding | 51.6M | 52.0M | 52.0M | 52.8M | 54.4M | 18.5M | 18.5M | 19.0M | 19.0M | 19.6M |
| Change in shares outstanding | −0.8% | −0.0% | −1.4% | −3.0% | +193.4% | 0.0% | −2.5% | −0.2% | −2.7% | −2.2% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 30.8% | 33.4% | 33.9% | 32.0% | 30.7% | 22.6% | 24.6% | 25.5% | 23.0% | 21.8% |
| Return on invested capital (ROIC) | 59.8% | 53.9% | 45.1% | 41.1% | 45.3% | 27.3% | 30.2% | 41.7% | 31.7% | 28.2% |
| Return on assets (ROA) | 18.6% | 19.0% | 18.0% | 16.4% | 15.8% | 11.0% | 12.9% | 15.8% | 14.0% | 12.9% |
| Return on tangible assets | 18.2% | 18.7% | 18.3% | 18.6% | 17.6% | 12.0% | 12.6% | 16.8% | 15.3% | 15.1% |
| Free cash flow margin | 11.5% | 10.2% | 8.8% | 7.8% | 5.8% | 14.0% | 8.2% | 10.6% | 6.2% | 4.1% |
| Income quality (OCF / net income) | 1.41 | 1.34 | 1.30 | 1.24 | 1.01 | 2.04 | 1.71 | 1.68 | 1.74 | 1.77 |
| Financial health | ||||||||||
| Total debt | $28.1M | $28.1M | $31.4M | $33.8M | $43.1M | $54.7M | $98.3M | $5.7M | $0 | $0 |
| Cash & short-term investments | $233.1M | $170.6M | $105.6M | $71.3M | $97.5M | $139.7M | $83.2M | $91.7M | $55.8M | $28.6M |
| Net debt | −$205.0M | −$142.5M | −$74.2M | −$37.6M | −$54.4M | −$85.1M | $15.1M | −$86.0M | −$55.8M | −$28.6M |
| Debt / equity | 0.07 | 0.09 | 0.13 | 0.17 | 0.20 | 0.25 | 0.52 | 0.03 | 0.00 | 0.00 |
| Debt / assets | 0.04 | 0.05 | 0.07 | 0.09 | 0.10 | 0.13 | 0.24 | 0.02 | 0.00 | 0.00 |
| Net debt / EBITDA | −1.17 | −0.95 | −0.61 | −0.34 | −0.50 | −1.03 | 0.18 | −1.02 | −0.80 | −0.42 |
| Current ratio | 2.03 | 1.90 | 1.64 | 1.45 | 1.55 | 1.66 | 1.56 | 1.84 | 1.67 | 1.43 |
| Quick ratio | 2.03 | 1.90 | 1.64 | 545.36 | 1.55 | 1.66 | 1.56 | 1.90 | 1.74 | 1.49 |
| Interest coverage | — | — | — | 3.4 | 3.5 | 2.5 | 2.7 | — | — | — |
| Working capital | $234.2M | $182.7M | $117.7M | $75.9M | $93.6M | $106.5M | $75.3M | $98.6M | $65.3M | $38.8M |
| Invested capital | $189.3M | $179.5M | $173.5M | $164.6M | $158.0M | $135.3M | $204.8M | $108.8M | $115.4M | $110.0M |
| Tangible asset value | $357.2M | $284.7M | $210.0M | $164.1M | $173.9M | $181.5M | $150.4M | $155.0M | $130.9M | $98.0M |
| Net current asset value | $213.5M | $162.7M | $95.2M | $52.0M | $62.1M | $64.6M | −$17.6M | $92.3M | $60.5M | $32.1M |
| Graham number | $19.16 | $15.96 | $12.53 | $10.41 | $10.36 | $25.86 | $24.26 | $23.80 | $19.47 | $15.50 |
| Graham net-net per share | $1.17 | $0.47 | −$0.55 | −$866.25 | −$0.80 | −$0.87 | −$5.07 | $0.97 | −$0.10 | −$1.20 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | — | — | — | — | — | $0 | $0 |
| Share buybacks (net) | $56.2M | $37.6M | $45.7M | $93.7M | $90.1M | $32.7M | $65.6M | $35.2M | $11.2M | $28.0M |
| Dividend payout ratio | — | — | — | — | — | — | — | — | 0.0% | 0.0% |
| Dividends + buybacks / free cash flow | 51.0% | 41.1% | 65.3% | 167.4% | 240.8% | 42.4% | 135.4% | 55.5% | 32.5% | 133.3% |
| Capex / revenue | 4.7% | 4.0% | 3.7% | 3.7% | 4.6% | 3.1% | 5.5% | 2.6% | 5.0% | 6.0% |
| Capex / operating cash flow | 29.1% | 28.1% | 29.5% | 32.0% | 44.4% | 18.3% | 40.0% | 19.4% | 44.6% | 59.6% |
| Capex / depreciation | 1.43 | 1.21 | 1.11 | 1.05 | 1.25 | 0.74 | 1.44 | 0.66 | 1.27 | 1.48 |
| Stock-based compensation / revenue | 0.6% | 0.6% | 0.6% | 0.8% | 0.8% | 0.9% | 0.8% | 0.7% | 0.6% | 0.5% |
| SG&A / revenue | 9,361.4% | 9.9% | 9.6% | 10.3% | 10.5% | 11.7% | 11.0% | 10.6% | 10.6% | 11.0% |
| Efficiency | ||||||||||
| Days sales outstanding | 39.1 | 41.0 | 40.9 | 41.6 | 41.6 | 43.1 | 42.2 | 41.7 | 41.8 | 43.1 |
| Days of inventory on hand | — | — | — | -59,486.0 | — | 0.0 | -2.8 | -5.5 | -4.9 | -4.4 |
| Days payables outstanding | 10.0 | 8.5 | 9.2 | 9.5 | 9.8 | 11.7 | 9.8 | 8.4 | 10.4 | 12.0 |
| Cash conversion cycle (days) | 29.1 | 32.5 | 31.7 | -59,453.9 | 31.8 | 31.4 | 29.6 | 27.8 | 26.5 | 26.8 |
| Receivables turnover | 9.33 | 8.90 | 8.93 | 8.78 | 8.77 | 8.47 | 8.64 | 8.74 | 8.74 | 8.46 |
| Payables turnover | 36.52 | 43.09 | 39.64 | 38.46 | 37.39 | 31.20 | 37.20 | 43.38 | 35.17 | 30.54 |
| Inventory turnover | — | — | — | — | — | 286,013,333.33 | — | — | — | — |
| Asset turnover | 1.61 | 1.79 | 1.87 | 1.78 | 1.54 | 1.31 | 1.61 | 2.01 | 2.19 | 2.28 |
| Average receivables | $102.7M | $100.6M | $89.1M | $81.8M | $73.7M | $65.2M | $68.6M | $68.1M | $63.9M | $61.3M |
| Average payables | $19.9M | $15.9M | $15.7M | $14.6M | $13.2M | $13.7M | $12.5M | $10.9M | $12.8M | $13.6M |
| Average inventory | — | — | — | −$91.32B | — | $2 | −$3.6M | −$7.1M | −$6.0M | −$4.9M |
| Intangibles / total assets | 5.8% | 6.8% | 8.3% | 9.7% | 9.3% | 9.2% | 9.5% | 12.5% | 14.7% | 17.3% |
Computed from CRVL's annual financial statements (latest annual report filed May 22, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
CRVL valuation and financial ratios
At the end of fiscal 2026 (March 31, 2026), CorVel traded at 25.6 times earnings, against a 10-year median of 19.6. Based on the latest twelve months, the trailing P/E is 35.6 and the forward P/E is 23.8. CorVel earned a return on equity of 30.8% and a return on invested capital of 59.8% in fiscal 2026. It ended the year with $28.1 million of debt and $233.1 million in cash and short-term investments, a net cash position of $205.0 million. It returned $56.2 million to shareholders: $0 in dividends and $56.2 million in share buybacks, 51% of free cash flow. The share count rose 163.8% from 19.6M to 51.6M over 9 years.
See the CRVL income statement, the CRVL chart for price history, or the CRVL stock overview for the latest quote and news.
CRVL key metrics FAQ
What is CorVel's P/E ratio?
CorVel's trailing P/E ratio is 35.6 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 23.8. At the end of fiscal 2026 it was 25.6, compared with a 10-year median of 19.6.
What is CorVel's EV/EBITDA?
CorVel's enterprise value was 15.0 times EBITDA at the end of fiscal 2026 (enterprise value $2.6 billion, EBITDA $174.9 million); the current EV/EBITDA is 19.0.
What is CorVel's return on equity?
CorVel's return on equity (ROE) was 30.8% in fiscal 2026: net income of $110.3 million on average shareholders' equity of $358.1 million.
What is CorVel's ROIC?
CorVel's return on invested capital was 59.8% in fiscal 2026, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does CorVel have?
CorVel had total debt of $28.1 million at the end of fiscal 2026, a debt-to-equity ratio of 0.07 and more cash than debt.
Does CorVel buy back its shares?
Yes. CorVel spent $56.2 million on net share repurchases in fiscal 2026 Shares outstanding changed −0.8% over the year, to 51.6M..
What is CorVel's free cash flow yield?
CorVel generated $110.3 million of free cash flow in fiscal 2026, a free cash flow yield of 3.9% on its market value at year-end ($2.8 billion).
What is CorVel's current ratio?
CorVel's current ratio was 2.03 at the end of fiscal 2026: current assets were 2.03 times current liabilities.