CorVel Corp. (CRVL) vs Marsh (MRSH)

CorVel Corp. and Marsh are both Insurance Brokers companies. Marsh is the larger, with a market value of $99.6B against $4.3B — 22.9× the size. Marsh trades at the lower P/E: 24.8× against 35.9×. CorVel Corp. grew revenue faster over the last twelve months: 8.29% against 7.58%. Marsh has the higher net margin (14.2% vs 12.0%) and the lower return on invested capital (19.3% vs 62.7%). Across the 20 metrics below, CorVel Corp. leads on 10 and Marsh on 10.

Valuation

Metric CRVL MRSH Insurance Brokers median
P/E 35.88 24.83 22.14
P/S 4.28 3.49 2.91
P/B 10.05 6.66 3.02
Price to free cash flow 38.00 23.90 22.32
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 2.79% 4.03% 3.41%
Free cash flow yield 2.63% 4.18% 3.09%

Profitability

Metric CRVL MRSH Insurance Brokers median
Gross margin 25.52% 100.00% 49.54%
Operating margin 15.93% 21.39% 15.76%
Net margin 12.02% 14.20% 8.19%
Free cash flow margin 0.00% 14.60% 3.58%
Return on equity 30.64% 26.70% 2.99%
Return on assets 18.34% 6.82% 2.33%
Return on invested capital 62.74% 19.33% 5.64%

Growth

Metric CRVL MRSH Insurance Brokers median
Revenue growth (TTM) 8.29% 7.58% 9.77%
EPS growth (last fiscal year) 16.94% 3.06% (8.67%)
Revenue growth, 5-year CAGR 11.64% 9.39% 9.30%
Net income growth, 5-year CAGR 18.94% 15.59% 0.00%

Health

Metric CRVL MRSH Insurance Brokers median
Debt to equity 0.00 1.27 0.49
Current ratio 2.02 1.09 1.54
Net debt to EBITDA (1.33) 0.58 1.20

Dividend

Metric CRVL MRSH Insurance Brokers median
Dividend yield — 1.81% 1.01%
Payout ratio — 0.45 0.33

Size

Metric CRVL MRSH Insurance Brokers median
Market cap 4.34b 99.59b 2.41b

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