CorVel Corp Stock Research

Market Summary

USD204.04-1.33

Market Closed

-0.65%

CRVL Stock Price

CRVL RSI Chart

CRVL Valuation

Market Cap

3.5B

Price/Earnings (Trailing)

52.01

Price/Sales (Trailing)

5.01

EV/EBITDA

30.51

Price/Free Cashflow

63.24

CRVL Price/Sales (Trailing)

CRVL Profitability

EBT Margin

12.52%

Return on Equity

34.82%

Return on Assets

16.64%

Free Cashflow Yield

1.58%

CRVL Fundamentals

CRVL Revenue

Revenue (TTM)

704.5M

Revenue Y/Y

9.04%

Revenue Q/Q

1.1%

CRVL Earnings

Earnings (TTM)

67.8M

Earnings Y/Y

21.58%

Earnings Q/Q

14.96%

Price Action

52 Week Range

129.19221.82

(Low)(High)

Last 7 days

-6.3%

Last 30 days

3.7%

Last 90 days

11.5%

Trailing 12 Months

37.4%

CRVL Financial Health

Current Ratio

1.38

CRVL Investor Care

Buy Backs (1Y)

3.40%

Diluted EPS (TTM)

3.82

Peers (Alternatives to CorVel)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
UNH	446.3B	335.9B	-1.52%	1.40%	21.55	1.33	12.90%	18.65%
CI	91.1B	183.0B	-0.38%	0.92%	13.64	1.92	3.34%	24.58%
HUM	65.7B	95.6B	4.18%	19.07%	23.41	0.71	10.74%	2.64%
CNC	36.1B	146.3B	-2.07%	-20.86%	24.33	0.25	9.81%	-0.94%
MID-CAP
LHCG	5.2B	2.3B	3.17%	35.63%	86.23	2.28	2.85%	-58.05%
HQY	4.8B	861.7M	-1.68%	-3.80%	-184.05	5.58	13.90%	40.97%
AMN	3.9B	4.8B	10.30%	10.74%	10.14	0.81	3.57%	-4.88%
CRVL	3.5B	704.5M	3.68%	37.43%	52.01	5.01	13.56%	10.15%
PDCO	2.6B	6.4B	2.08%	-10.17%	13.51	0.41	-0.52%	16.73%
SMALL-CAP
RDNT	1.7B	1.5B	3.86%	49.24%	-124.46	1.12	10.24%	-173.11%
ADUS	1.4B	976.1M	-19.00%	6.62%	28.58	1.47	10.19%	12.37%
BKD	692.7M	2.9B	-12.80%	-32.97%	-3.79	0.24	7.97%	-101.02%

Financials for CorVel

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	2.2%	704	690	670	646	620
Gross Profit	3.3%	159	154	155	152	145
S&GA Expenses	0.9%	71.00	71.00	70.00	68.00	67.00
EBITDA	4.3%	113	108	109	108	-
EBITDA Margin	2.1%	0.16*	0.16*	0.16*	0.17*	-
Earnings Before Taxes	5.4%	88.00	84.00	85.00	85.00	78.00
EBT Margin	3.2%	0.13*	0.12*	0.13*	0.13*	-
Net Income	4.6%	68.00	65.00	66.00	66.00	62.00
Net Income Margin	2.4%	0.10*	0.09*	0.10*	0.10*	-
Free Cahsflow	38.8%	56.00	40.00	51.00	37.00	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	2.0%	408	400	416	415	424
Current Assets	3.4%	257	248	261	265	269
Cash Equivalents	3.2%	78.00	76.00	94.00	98.00	116
Net PPE	-0.5%	82.00	83.00	84.00	76.00	71.00
Goodwill	0%	37.00	37.00	37.00	37.00	37.00
Liabilities	5.4%	213	202	210	203	209
Current Liabilities	6.2%	186	176	181	171	171
Shareholder's Equity	-1.5%	195	198	206	212	215
Retained Earnings	2.4%	713	697	682	665	646
Additional Paid-In Capital	1.4%	211	208	205	202	199
Accumulated Depreciation	-	208	-	-	-	-
Shares Outstanding	-0.8%	17.00	17.00	17.00	18.00	18.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	20.3%	86.00	72.00	83.00	67.00	71.00
Share Based Compensation	10.7%	5.00	5.00	5.00	5.00	5.00
Cashflow From Investing	3.3%	-30.54	-31.60	-31.74	-29.82	-22.39
Cashflow From Financing	2.4%	-93.30	-95.63	-95.40	-79.61	-61.91
Buy Backs	-2.7%	100	103	103	90.00	76.00

Risks for CRVL

What is the probability of a big loss on CRVL?

51.9%

Probability that CorVel stock will be more than 20% underwater in next one year

30%

Probability that CorVel stock will be more than 30% underwater in next one year.

17.7%

Probability that CorVel stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does CRVL drawdown profile look like?

Y-axis is the maximum loss one would have experienced if CorVel was unfortunately bought at previous high price.

Drawdowns

Returns for CRVL

Cumulative Returns on CRVL

23.6%

10-Year Cumulative Returns

23.5%

7-Year Cumulative Returns

31.2%

5-Year Cumulative Returns

55.4%

3-Year Cumulative Returns

What are the long-term rolling returns for CRVL?

FIve years rolling returns for CorVel.

Annualized Returns

Which funds bought or sold CRVL recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-05-18	JPMORGAN CHASE & CO	added	20.46	1,090,000	2,976,000	-%
2023-05-18	NEW YORK STATE COMMON RETIREMENT FUND	reduced	-32.35	-113,000	875,000	-%
2023-05-18	SkyView Investment Advisors, LLC	added	13.58	224,000	683,000	0.16%
2023-05-17	KB FINANCIAL PARTNERS, LLC	added	11.81	199,000	627,000	0.18%
2023-05-17	Thrivent Financial for Lutherans	reduced	-3.97	351,000	1,715,000	-%
2023-05-16	KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC	added	3.91	99,674,800	376,139,000	1.11%
2023-05-16	Rockefeller Capital Management L.P.	sold off	-100	-	-	-%
2023-05-16	SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC	unchanged	-	266,643	1,128,740	0.03%
2023-05-16	SUSQUEHANNA INTERNATIONAL GROUP, LLP	new	-	2,053,310	2,053,310	-%
2023-05-16	RBF Capital, LLC	unchanged	-	89,560	380,560	0.03%

Latest Funds Activity

Are funds buying CRVL calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own CRVL

No. of Funds

CorVel News

Schedule 13G FIlings of CorVel

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 14, 2023	clemons v gordon	7.74%	1,330,534	SC 13G/A
Feb 14, 2023	corstar holdings, inc.	37.3%	6,414,036	SC 13G/A
Feb 14, 2023	kayne anderson rudnick investment management llc	11.01%	1,901,500	SC 13G/A
Feb 13, 2023	renaissance technologies llc	4.33%	744,610	SC 13G/A
Feb 09, 2023	vanguard group inc	6.41%	1,106,807	SC 13G/A
Jan 25, 2023	blackrock inc.	8.7%	1,507,366	SC 13G/A
Feb 14, 2022	kayne anderson rudnick investment management llc	11.27%	1,997,505	SC 13G/A
Feb 14, 2022	clemons v gordon	7.87%	1,389,837	SC 13G/A
Feb 11, 2022	renaissance technologies llc	5.11%	902,210	SC 13G/A
Feb 10, 2022	corstar holdings, inc.	36.8%	6,494,036	SC 13G/A

CRVL Fair Value

Recent SEC filings of CorVel

View All Filings

Date Filed	Form Type	Document
May 16, 2023	4	Insider Trading
May 15, 2023	4	Insider Trading
May 11, 2023	4	Insider Trading
May 01, 2023	4/A	Insider Trading
Apr 28, 2023	4	Insider Trading
Apr 28, 2023	4/A	Insider Trading
Apr 28, 2023	4/A	Insider Trading
Apr 27, 2023	4	Insider Trading
Apr 06, 2023	4	Insider Trading
Apr 03, 2023	4	Insider Trading

Latest Insider Trading transactions for CRVL

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-05-12	Combs Michael G	acquired	421,440	70.24	6,000	ceo & president
2023-05-12	Combs Michael G	sold (taxes)	-862,277	219	-3,935	ceo & president
2023-05-11	JESSUP R JUDD	acquired	104,310	34.77	3,000	-
2023-05-11	JESSUP R JUDD	sold (taxes)	-104,112	216	-480	-
2023-05-10	O'Brien Brandon	acquired	116,895	77.93	1,500	chief financial officer
2023-05-10	O'Brien Brandon	sold (taxes)	-219,849	216	-1,015	chief financial officer
2023-04-27	O'Brien Brandon	sold (taxes)	-199,521	201	-989	chief financial officer
2023-04-27	O'Brien Brandon	acquired	131,535	87.69	1,500	chief financial officer
2023-04-25	Yoss Jennifer	sold (taxes)	-22,699	200	-113	vice president of accounting
2023-04-25	Yoss Jennifer	acquired	14,048	70.24	200	vice president of accounting

About CorVel

Michael G. Combs

www.corvel.com

3680

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.

CRVL Income Statement

2022-12-31

Consolidated Income Statements - Unaudited - USD ($)	3 Months Ended		9 Months Ended
Consolidated Income Statements - Unaudited - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
REVENUES	$ 179,386,000	$ 164,508,000	$ 533,119,000	$ 474,871,000
Cost of revenues	139,041,000	129,320,000	416,811,000	365,808,000
Gross profit	40,345,000	35,188,000	116,308,000	109,063,000
General and administrative expenses	18,128,000	17,506,000	54,347,000	50,810,000
Income before income tax provision	22,217,000	17,682,000	61,961,000	58,253,000
Income tax provision	5,368,000	3,824,000	13,765,000	11,480,000
NET INCOME	$ 16,849,000	$ 13,858,000	$ 48,196,000	$ 46,773,000
Net income per common and common equivalent share
Basic	$ 0.98	$ 0.78	$ 2.77	$ 2.62
Diluted	$ 0.96	$ 0.76	$ 2.73	$ 2.57
Weighted average common and common equivalent shares
Basic	17,245,000	17,785,000	17,379,000	17,841,000
Diluted	17,487,000	18,211,000	17,647,000	18,221,000

CRVL Balance Sheet

2022-12-31

Consolidated Balance Sheets - USD ($)	Dec. 31, 2022	Mar. 31, 2022
Current Assets
Cash and cash equivalents	$ 78,031,000	$ 97,504,000
Customer deposits	82,857,000	69,781,000
Accounts receivable, net	82,791,000	82,586,000
Prepaid taxes and expenses	13,064,000	15,123,000
Total current assets	256,743,000	264,994,000
Property and equipment, net	82,066,000	76,268,000
Goodwill	36,814,000	36,814,000
Other intangibles, net	1,350,000	1,669,000
Right-of-use asset, net	29,936,000	35,020,000
Other assets	778,000	481,000
TOTAL ASSETS	407,687,000	415,246,000
Current Liabilities
Accounts and taxes payable	16,616,000	14,431,000
Accrued liabilities	169,810,000	156,939,000
Total current liabilities	186,426,000	171,370,000
Deferred income taxes, net	683,000	1,689,000
Long-term lease liabilities	25,773,000	29,792,000
Total liabilities	212,882,000	202,851,000
Commitments and contingencies
Stockholders' Equity
Common stock, $.0001 par value: 120,000,000 shares authorized at December 31, 2022 and March 31, 2022; 54,891,298 shares issued (17,180,180 shares outstanding, net of Treasury shares) and 54,788,712 shares issued (17,569,087 shares outstanding, net of Treasury shares) at December 31, 2022 and March 31, 2022, respectively	3,000	3,000
Paid-in capital	210,904,000	201,609,000
Treasury stock (37,711,118 shares at December 31, 2022 and 37,219,625 shares at March 31, 2022)	(729,601,000)	(654,520,000)
Retained earnings	713,499,000	665,303,000
Total stockholders' equity	194,805,000	212,395,000
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 407,687,000	$ 415,246,000