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CorVel Corp.

CRVL Financial Insurance Brokers

CorVel Corp.’s revenue for fiscal 2026 (year ended March 2026) was $958.5 million, up 7.03% from fiscal 2025.

Revenue
+11.5%
EPS
+24.9%
Free cash flow
+8.94%

Quarter to September 2026, against a year earlier

85.56 1.82 −2.08%
Market cap
$4.3B
P/E
35.9×
Fwd P/E
—
Dividend yield
—
F-score
7/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 20.35
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — 1 2 — 1 5 — 2 3 — —
Insider Ownership 38.95%

Capital & Financial Ratios $m

Size
Market Cap 4,340.00
Revenue ttm 1,011.23
Net income ttm 115.33
Free cash flow ttm 113.82
Net debt Q (269.99)
Valuation
P/E 35.88 (above 35: high)
Forward P/E —
Price / sales 4.28
Forward P/S Powerpack
Price / FCF 38.00
Price / book 10.05
Financial health
Current ratio Q 2.02
Debt / equity Q 0.00
Interest coverage Q —
Growth
Revenue growth Q +11.47% (above 0%: growing)
Operating income growth Q +27.70% (above 0%: growing)
EPS, this year —
EPS, next year A —
Revenue, next year A —
EPS, past 5 yrs +20.28% (at or above 15%: strong)
EPS, next 5 yrs A —

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

P/E against its own 10 years 51.67%
10-year low 10-year high
P/S against its own 10 years 67.69%
10-year low 10-year high
P/B against its own 10 years 58.82%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2024 2025 2026 Q'26
Cash 106 171 233 270
Receivables 97 104 101 108
Inventory — — — —
Other 88 101 116 130
302 387 462 521
2024 2025 2026 Q'26
Payables 17 17 25 24
ST’ Debt — — — —
Other — — — —
184 204 228 257

Compound Annual Growth %

10y 5y 3y
Sales 6.65% 11.64% 10.08%
Cash Flow 11.74% 10.52% 23.67%
Earnings 14.49% 18.94% 18.47%
Book Value 11.57% 12.33% 24.93%

EPS $

Jun Sep Dec Mar Year
’26 0.63 0.67 — — —
’26 0.52 0.54 0.47 0.61 2.14
’25 0.42 0.45 0.46 0.51 1.83
’24 0.38 0.38 0.33 0.37 1.47
’23 0.31 0.28 0.32 0.35 1.26
’22 0.31 0.29 0.25 0.36 1.22
’21 0.15 0.22 0.21 0.27 0.85
Fiscal quarters ending in the months shown.

Revenue $m

Jun Sep Dec Mar Year
’26 260 267 — — —
’26 235 240 236 249 959
’25 212 224 228 232 896
’24 190 196 202 207 795
’23 176 177 179 185 719
’22 153 158 165 171 646
’21 130 136 142 146 553
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Jun Sep Dec Mar Year
’26 50 — — — —
’26 55 25 46 29 156
’25 40 22 42 23 127
’24 37 18 29 15 99
’23 30 10 30 13 82
’22 14 21 15 17 67
’21 15 24 34 21 94
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Jun Sep Dec Mar Year
’26 43 — — — —
’26 40 15 35 20 110
’25 33 12 32 14 92
’24 32 11 22 5 70
’23 22 5 24 6 56
’22 8 16 8 5 37
’21 12 21 28 17 77
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to March

Ten-year view Analyst estimates Powerpack
Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 TTM Sep ’26 Trend 10 yrs 2027e 2028e 2029e Next 3/yr
Income, $m
Income, $m Revenue 519 558 596 592 553 646 719 795 896 959 1,011 +7.1% — — — —
Gross margin, % 20.20 19.21 20.95 21.26 22.37 23.54 22.02 21.59 23.42 24.29 25.52 +4.1 pt
EBT 48 48 62 61 59 85 85 95 121 143 161 +13.0%
EBT margin, % 9.17 8.58 10.33 10.25 10.71 13.08 11.77 11.96 13.49 14.93 15.93 +5.8 pt
Net income 29 36 47 47 46 66 66 76 95 110 115 +15.8%
Per share, $
Per share, $ Revenue 8.90 9.89 10.57 10.77 10.27 12.13 13.82 15.48 17.43 18.69 20.01 +8.6%
Earnings 0.51 0.63 0.83 0.86 0.86 1.25 1.28 1.48 1.85 2.15 2.38 +17.4%
Cash flow 0.89 1.10 1.39 1.47 1.75 1.26 1.58 1.93 2.48 3.03 0.00 +14.6%
Capex (0.53) (0.49) (0.27) (0.59) (0.32) (0.56) (0.51) (0.57) (0.70) (0.88) 0.00 +5.8%
Free cash flow 0.36 0.61 1.12 0.88 1.43 0.70 1.08 1.36 1.78 2.15 0.00 +21.9%
Book value 2.38 3.03 3.46 3.45 4.10 3.99 3.89 4.82 6.27 7.69 8.52 +13.9%
Shares, m 58 56 56 55 54 53 52 51 51 51 51 (1.4%)
Valuation, ×
Valuation, × P/E 28.62 25.47 26.36 21.13 39.62 45.16 49.68 57.69 60.63 25.42 35.88 38.0
P/S 1.63 1.63 2.07 1.69 3.33 4.63 4.59 5.53 6.42 2.92 4.28 3.4
P/B 6.09 5.32 6.33 5.27 8.35 14.08 16.31 17.75 17.87 7.11 10.05 10.4
EV/Sales 1.57 1.53 1.92 1.55 3.08 4.48 4.49 5.39 6.23 2.68 — 3.3
EV/FCF 38.84 24.81 18.02 18.89 22.04 77.35 57.64 61.29 60.97 23.30 — 40.3
Cash, $m
Cash, $m Operating cash flow 52 62 79 81 94 67 82 99 127 156 151 +12.9%
Capex (31) (28) (15) (32) (17) (30) (26) (29) (36) (45) (37) +4.3%
Free cash flow 21 34 63 48 77 37 56 70 92 110 114 +20.2%
Balance, $m
Balance, $m Working capital 39 65 99 75 106 94 76 118 183 234 263 +22.1%
Net debt (29) (56) (92) (83) (140) (98) (71) (106) (171) (233) (270) +26.2%
Shareholders’ equity 139 171 195 190 220 212 202 248 322 394 431 +12.3%
Returns, %
Returns, % ROA 12.94 14.01 15.78 12.90 11.02 15.81 16.40 17.97 19.02 18.56 18.34 +5.6 pt
ROIC 27.01 25.94 37.29 35.63 45.84 45.97 40.39 41.83 49.88 55.51 62.74 +28.5 pt
ROE 21.79 23.04 25.52 24.64 22.61 30.69 32.02 33.90 33.41 30.81 30.64 +9.0 pt
People
People Employees 3,629 3,788 3,904 3,824 3,681 4,233 4,444 4,870 5,075 5,239 — +4.2%
Revenue/emp, $m 0.14 0.15 0.15 0.15 0.15 0.15 0.16 0.16 0.18 0.18 — +2.8%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Mar 2026 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

CorVel Corp. vs peers in Insurance Brokers (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
ERIE Erie Indemnity Company $13.3B 22.9× 20.6× +0.30% (above 0%: growing) +0.25% (above 0%: growing) +0.52% (above 0%: growing) 19.38% 19.38% Compare
RYAN Ryan Specialty Holdings Inc. $12.1B 57.8× 48.0× +4.69% (above 0%: growing) +25.00% (above 0%: growing) +4.14% (above 0%: growing) 100.00% 17.83% Compare
BWIN Baldwin Insurance Group, Inc. $4.5B — (loss-making) — (loss-making) +30.13% (above 0%: growing) n/m +208.10% (above 0%: growing) 31.81% (1.69%) Compare
CRVL CorVel Corp. $4.3B 35.9× — +11.47% (above 0%: growing) +24.89% (above 0%: growing) +8.94% (above 0%: growing) 27.07% 17.16%
ARX Accelerant Holdings $4.3B — (loss-making) 46.1× +62.89% (above 0%: growing) +620.00% (above 0%: growing) −139.56% (below 0%: shrinking) 100.00% 30.96% Compare
NP Neptune Insurance Holdings Inc. $3.9B 86.7× 77.9× +34.27% (above 0%: growing) +116.67% (above 0%: growing) +66.53% (above 0%: growing) 100.00% 46.95% Compare
LIFE Ethos Technologies Inc. $2.1B — (loss-making) — (loss-making) +164.74% (above 0%: growing) −93.50% (below 0%: shrinking) +209.99% (above 0%: growing) 100.00% 1.64% Compare
GSHD Goosehead Insurance $2.0B 39.4× 32.3× +20.59% (above 0%: growing) +110.00% (above 0%: growing) −63.75% (below 0%: shrinking) 100.00% 23.45% Compare
TWFG TWFG, Inc. $1.6B 51.3× 36.1× +24.63% (above 0%: growing) −18.18% (below 0%: shrinking) +0.49% (above 0%: growing) 47.58% 11.30% Compare
Median of peers $4.1B 51.3× 41.1× +27.38% +25.00% +2.33% 100.00% 18.61%

All 23 Insurance Brokers stocks →

Pay and ownership Proxy statement filed 26 June 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2026 1.29m 472.22k 86.00
2025 1.19m 2.14m 200.00
2024 966.97k 1.90m 256.00
2023 2.09m 3.39m 349.00
2022 1.42m 4.46m 309.00

Ownership

Directors and executive officers, together 39.72%
Jeffrey J. Michael 37.99%
Corstar Holdings, Inc. 36.81%
Kayne Anderson Rudnick Investment Management, LLC 9.80%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

CorVel Corp. (CRVL) Latest News

4 Nov

Impact 4 · · The Motley Fool transcript
Impact 4 · · Associated Press Finance
Impact 3 · · GuruFocus.com

3 Nov

Impact 3 · · GlobeNewswire

3 Oct

Impact 4 · · Simply Wall St.

28 Sep

Impact 3 · · Insider Monkey

23 Sep

Impact 3 ·

22 Sep

Impact 4 · · GlobeNewswire

5 Aug

Impact 3 ·
Impact 3 · · MarketBeat
Impact 3 ·

17 Jun

Impact 3 ·

22 May

Impact 4 · · Simply Wall St.

20 May

Impact 4 · · Moby transcript
Impact 3 · · GuruFocus.com
Impact 3 · · MarketBeat transcript
Impact 3 · · The Motley Fool transcript
Impact 3 · · GlobeNewswire

29 Apr

Impact 4 · · GlobeNewswire

8 Feb

Impact 3 · · Simply Wall St.

3 Feb

Impact 4 · · GuruFocus.com transcript
Impact 4 · · MarketBeat transcript
Impact 4 · · Associated Press Finance
Impact 4 · · GlobeNewswire

9 Jan

Impact 3 · · Simply Wall St.

12 Dec

Impact 3 · · Simply Wall St.

23 Nov

Impact 4 · · Simply Wall St.

11 Nov

Impact 4 · · GlobeNewswireMotley FoolGuruFocus.comAssociated Press FinanceMT Newswires

6 Nov

Impact 4 · · Simply Wall St.Simply Wall St.MT NewswiresAssociated Press FinanceGuruFocus.comSimply Wall St.Simply Wall St.Simply Wall St.

5 Nov

Impact 4 · · GuruFocus.com

CRVL metrics, ten years each

stockrow.com/CRVL · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com