CorVel Corporation

CorVel Corporation

CRVLยทNASDAQ

$57.27

-8.1%
Financial ServicesInsurance - Brokers

CorVel Corporation provides workers' compensation, auto, liability, and health solutions for employers, third party administrators, insurance companies, and government agencies to assist them in managing the medical costs and monitoring the quality of care associated with healthcare claims. It applies technology, including artificial intelligence, machine learning, and natural language processing to enhance the managing of episodes of care and the related health care costs. The company offers network solutions services, including automated medical fee auditing, preferred provider management and reimbursement services, retrospective utilization review, facility claim review, professional review, pharmacy services, directed care services, Medicare solutions, clearinghouse services, independent medical examinations, and inpatient medical bill review. It also provides a range of patient management services, such as claims management, case management, 24/7 nurse triage, utilization management, vocational rehabilitation, and life care planning, as well as processing of claims for self-insured payors with respect to property and casualty insurance. The company was incorporated in 1987 and is headquartered in Fort Worth, Texas.

At a Glance

Live Snapshot
Market Cap$2.90B
EPS2.1500
P/E Ratio26.64
Earnings Date08/04/2026

Intrinsic Alpha Methodology

Thesis Lenses

Signal ยท Driver ยท Risk

Signal

High confidence

Valuation multiple is elevated (P/E 26.6).

Valuation inputs: P/E 26.6, earnings yield +3.8%, momentum -8.1%.

If multiples stay elevated while momentum fades, downside repricing risk rises.

Driver

High confidence

Return profile is strong (ROE +28.0%, ROIC +26.6%).

Profitability stack: net margin +11.5%, ROE +28.0%, ROIC +26.6%.

Quality deterioration often appears in margins before it shows up in headline EPS.

Risk

High confidence

Risk profile is balanced but has notable pressure points to monitor.

Risk factors: liabilities/assets 0.0%, momentum -8.1%, net margin +11.5%.

Higher leverage with weak momentum and thin margins can amplify drawdown severity.

crvl

CorVel Corporation Market vs Earnings Trajectory

CRVL ยท NASDAQ

Loading price and EPS data...

CorVel Corporation

CorVel Corporation Fair Value Envelope

CRVL ยท NASDAQ

Our analysis suggests that CRVL has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $57.27, this represents a potential HIDDEN relative to our calculated worth for CorVel Corporation.

Intrinsic Value
Current Price: $57.27
3Y+68.0%
5Y+150.0%
10Y+322.0%
3Y+33.0%
5Y+73.0%
10Y+85.0%
3Y+66.0%
5Y+138.0%
10Y+274.0%
3Y+89.0%
5Y+58.0%
10Y+148.0%
3Y+145.0%
5Y+89.0%
10Y+165.0%
3Y+63.0%
5Y+51.0%
10Y+173.0%
CorVel Corporation

CorVel Corporation Profit Bridge

CRVL ยท NASDAQ
Revenue958.53M
Cost of Goods Sold (0.00)
Gross Profit232.86M
Operating Expenses (0.00)
Operating Income143.13M
Interest Expense (0.00)
Other Income/Expense0.00
Pretax Income143.13M
Income Tax (32.79M)
Net Income110.34M
Net Income
110.34M

Profitability Analysis

Gross Margin

24.3%

Moderate margins typical of competitive industries. Monitor for pricing pressure or rising costs.

Operating Margin

14.9%

Acceptable margins but limited operational leverage. Operating expense control is important.

Net Profit Margin

11.5%

Strong net margins indicate efficient operations and favorable tax/interest management.

Effective Tax Rate

22.9%

Moderate tax rate typical for most corporations. Represents standard tax burden on profits.

Profitability Insight

Efficient profit conversion: Minimal margin compression from gross to net indicates lean operations and favorable tax/interest environment.

24.29%
Gross Profit Margin
4%
3Y+10.0%
5Y+9.0%
10Y+20.0%
14.93%
Operating Profit Margin
11%
3Y+27.0%
5Y+39.0%
10Y+63.0%
11.51%
Net Profit Margin
8%
3Y+25.0%
5Y+37.0%
10Y+103.0%
27.99%
Return on Equity
-5%
3Y-15.0%
5Y+33.0%
10Y+32.0%
17.16%
Return on Assets
-2%
3Y+2.0%
5Y+57.0%
10Y+37.0%
26.59%
Return on Invested Capital
-2%
3Y-5.0%
5Y+58.0%
10Y+31.0%
CRVL

CorVel Corporation Cash Conversion Engine

CRVL ยท NASDAQ
Net Income95.17M
Depreciation & Amortization29.54M
Stock-Based Compensation5.71M
Change in Working Capital-1.83M
Others3.89M
Capital Expenditures-35.76M
Free Cash Flow91.56M

Cash Flow Quality Analysis

FCF Conversion Rate

96.2%

Strong cash conversion. Most reported earnings translate into actual cash flow, suggesting solid fundamentals.

CapEx Intensity

28.1%

Moderate capital requirements typical of many stable businesses. Healthy balance between reinvestment and cash generation.

FCF Growth Trend

+30.8%

Strong FCF growth demonstrates improving cash generation and business momentum. Positive signal for sustainability.

Working Capital Impact

-$1.83M

Minimal working capital impact on FCF. Changes in operating assets and liabilities well-managed.

Cash Flow Quality Insight

Asset-light with strong cash conversion: Low capital requirements combined with efficient cash generation creates significant shareholder value through dividends, buybacks, or strategic investments.

crvl

CorVel Corporation Funding & Solvency Profile

CRVL ยท NASDAQ
Cash & Cash Equivalents233.07M
Net Receivables101.31M
Inventory0.00
Other Current Assets115.71M
Total Current Assets462 M
Property, Plant & Equipment139.07M
Goodwill & Intangible Assets0.00
Long-Term Investments0.00
Other Non-Current Assets41.62M
Total Non-Current Assets181 M
Total Assets
642.99M

Financial Health Analysis

Current Ratio

2.03x

Excellent liquidity position. The company can easily cover its short-term obligations with substantial cushion.

Debt-to-Equity Ratio

0.00x

Conservative capital structure. The company relies primarily on equity financing, indicating low financial risk.

Working Capital

234 M

Strong working capital position provides significant operational flexibility and financial cushion.

Asset Composition

72% Current

Asset-light business model with high liquidity. Majority of assets are easily convertible to cash.

Financial Health Insight

Strong financial foundation: Excellent liquidity combined with conservative leverage suggests the company is well-positioned to weather economic uncertainties and fund growth opportunities.

crvl

CorVel Corporation Street Expectations Map

CRVL ยท NASDAQ

No Target Data

No analyst price targets available for crvl.

crvl

CorVel Corporation Insider Positioning

CRVL ยท NASDAQ

During the last 12 months, insiders have sold $15.83M worth of CRVL shares, with no buying activity reported.

3 Months

Bought

0

0.00

Sold

11.3K

617.22K

Net Activity

-617K

-$617K

3-6 Months

Bought

0

0.00

Sold

20.0K

955.80K

Net Activity

-956K

-$956K

6-9 Months

Bought

0

0.00

Sold

92.5K

8.25M

Net Activity

-8.2M

-$8.25M

9-12 Months

Bought

0

0.00

Sold

65.0K

6.01M

Net Activity

-6.0M

-$6.01M

Top Buyers

No buying activity

Top Sellers

1
CHI

Corstar Holdings Inc

10 Percent Owner

110.0K sharesโ€ข2 transactions

$9.96M

2
SM

Shishin Maxim

Officer: Chief Information Officer

25.8K sharesโ€ข4 transactions

$2.25M

3
HSJ

Hamerslag Steven J

Director

20.0K sharesโ€ข2 transactions

$956K

4
OB

O'Brien Brandon

Officer: Chief Financial Officer

7.9K sharesโ€ข3 transactions

$835K

5
JRJ

Jessup R Judd

Director

10.5K sharesโ€ข3 transactions

$808K

Insider Activity Analysis

Net Insider Sentiment

Bearish

Strong bearish signal with $15.83M net selling. Heavy insider selling may indicate concerns about valuation or near-term prospects.

Buy/Sell Ratio

0.00:1

Very poor ratio. Heavy selling with minimal buying suggests insiders may be concerned about valuation or outlook.

Recent Trend (3 Months)

$617K

Heavy recent selling activity. Recent insider sales notably exceed purchasesโ€”may warrant investigation into company developments.

Insider Participation

High Selling

5 insider sellers vs. 0 buyers. Widespread selling across multiple insiders may signal concerns.

Insider Activity Insight

Multiple red flags: Heavy selling, numerous sellers, and continued recent selling create a concerning pattern. Investigate fundamental drivers and consider whether company guidance or industry conditions have deteriorated.

No Dividend Yield Data

CRVL has not reported any dividend yield values in the available annual periods.

ย 

crvl Dividend History

CRVL
10Y CAGR +0%
Latest $0
Annual $0
Stable dividend payments
Last Period: +0%