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CorVel
(NASDAQ:CRVL)
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Rating:78Outperform
Price Target:
$78.00
▲(10.81% Upside)
Action:Reiterated
Date:09/07/26
The score is driven primarily by strong financial performance (high profitability, high ROE, and very low leverage). Technicals are supportive with price above major moving averages and positive MACD. These positives are tempered by a relatively high P/E and only modest incremental impact from recent governance-related corporate events, with slowing revenue growth remaining the key fundamental risk.
Positive Factors
Very low leverage
CorVel’s conservative balance sheet limits financial risk and preserves flexibility to fund operations, technology, and customer programs without substantial debt servicing demands. Low leverage also gives management greater capacity to withstand volatility while maintaining strategic and capital-allocation options.
Negative Factors
Slowing revenue growth
Top-line deceleration is the clearest fundamental constraint because slower expansion can limit operating leverage, customer-program growth, and the pace at which earnings compound. If this trend persists, CorVel may need continued execution and efficiency gains to sustain its current returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Very low leverage
CorVel’s conservative balance sheet limits financial risk and preserves flexibility to fund operations, technology, and customer programs without substantial debt servicing demands. Low leverage also gives management greater capacity to withstand volatility while maintaining strategic and capital-allocation options.
Read all positive factors
CorVel Key Performance Indicators (KPIs)
Any
Revenue by Service Line
Breaks down sales across CorVel’s business lines (claims administration, bill review, network and specialty services), showing which areas drive growth and profits. A shift toward higher‑margin or rapidly growing services indicates better future earnings power, while concentration in one line increases vulnerability to pricing pressure, regulatory changes, or competitive loss.
Breaks down sales across CorVel’s business lines (claims administration, bill review, network and specialty services), showing which areas drive growth and profits. A shift toward higher‑margin or rapidly growing services indicates better future earnings power, while concentration in one line increases vulnerability to pricing pressure, regulatory changes, or competitive loss.
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The Fly
The FlyCorVel (CRVL) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.45B
Dividend YieldN/A
Average Volume (3M)176.44K
Price to Earnings (P/E)30.3
Beta (1Y)0.56
Revenue Growth7.09%
EPS Growth14.95%
CountryUS
Employees5,239
SectorFinancial
Sector Strength70
IndustryInsurance - Brokers
Share Statistics
EPS (TTM)2.25
Shares Outstanding50,516,570
10 Day Avg. Volume159,717
30 Day Avg. Volume176,439
Financial Highlights & Ratios
PEG Ratio1.57
Price to Book (P/B)7.11
Price to Sales (P/S)2.92
P/FCF Ratio25.41
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
CorVel Business Overview & Revenue Model
Company Description
CorVel Corporation delivers comprehensive solutions designed to assist employers, third-party administrators, insurance providers, and government entities in effectively managing healthcare claims. The company focuses on controlling medical expend...
How the Company Makes Money
CorVel makes money by charging customers (such as employers, insurance companies, and third-party administrators) fees for delivering healthcare and claims-related management services and for access to its technology-enabled workflows. Key revenue...
CorVel Earnings Call Summary
Earnings Call Date:May 20, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Nov 03, 2026
Earnings Call Sentiment Positive
The call presented multiple strong operational and financial positives: revenue and EPS growth (quarterly and fiscal), improved margins, robust new bookings (+56%) and pipeline expansion (RFPs +20%), cash generation, a debt-free balance sheet and aggressive share repurchases. Strategic wins for CERIS, expansion of prepaid solutions and continued AI/automation investments position the company for scalable growth. Offset risks include a higher effective tax rate, some one-time/timing-driven CERIS benefits that may not fully recur, only low single-digit growth in patient management, near-term staffing costs, and industry headwinds including rising claims severity and cybersecurity risks. Overall, the favorable results, expanding bookings and strong cash/return-of-capital program materially outweigh the noted challenges.Positive Updates
Quarterly Revenue Growth
March quarter revenues were $249 million, up 7% year-over-year from $232 million in March 2025.
Negative Updates
Higher Effective Tax Rate
Effective tax rate increased compared to the prior year because the prior year included a discrete benefit from stock option exercises that did not recur, which tempered EPS growth.
Read all updates
Q4-2026 Updates
Positive
Negative
Quarterly Revenue Growth
March quarter revenues were $249 million, up 7% year-over-year from $232 million in March 2025.
Read all positive updates
Company Guidance
The company guided that momentum from CERIS and recently signed enterprise programs—4 large payer implementations in 2026, including 2 new multiyear partnerships with top‑10 national payers—should drive ongoing revenue and profit tailwinds, with new bookings up 56% year‑over‑year and RFP activity up 20%, and those multiyear bookings expected to contribute meaningfully to revenue and profit growth in the back half of the calendar year as implementations scale; management also said a timing‑related CERIS benefit added $0.02 to EPS in the period. They expect prepaid solutions (revenue realization in about 1–2 months versus ~6+ months for postpaid) and expanded automation/AI to deliver sustained productivity gains, normalize elevated personnel levels as deployments mature, reduce manual work and improve operating leverage through the remainder of the year and into 2027. Supporting this push, CorVel pointed to a strong, debt‑free balance sheet with $233M cash, $66M free cash flow for FY2026, and ongoing share repurchases (872,744 shares repurchased for $56M in FY2026; 366,306 for $20M in Q4; 115.3M total repurchased to date for $868M, ~69% of shares outstanding at an average $7.70), which management said funds continued investment in technology, product expansion and M&A optionality.CorVel Financial Statement Overview
Summary
Income Statement
84
Very Positive
Balance Sheet
92
Very Positive
Cash Flow
80
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 983.74M | 958.53M | 895.59M | 795.31M | 718.56M | 646.23M |
| Gross Profit | 235.13M | 232.86M | 209.73M | 171.69M | 158.26M | 152.11M |
| EBITDA | 183.90M | 174.90M | 150.36M | 121.35M | 109.67M | 108.43M |
| Net Income | 115.33M | 110.34M | 95.17M | 76.25M | 66.36M | 66.41M |
Balance Sheet | ||||||
| Total Assets | 689.74M | 642.99M | 545.98M | 454.68M | 393.92M | 415.25M |
| Cash, Cash Equivalents and Short-Term Investments | 255.88M | 233.07M | 170.58M | 105.56M | 71.33M | 97.50M |
| Total Debt | 28.39M | 28.11M | 28.08M | 31.40M | 33.76M | 43.14M |
| Total Liabilities | 280.84M | 248.75M | 223.99M | 207.03M | 191.75M | 202.85M |
| Stockholders Equity | 408.89M | 394.23M | 321.99M | 247.65M | 202.18M | 212.40M |
Cash Flow | ||||||
| Free Cash Flow | 113.82M | 110.28M | 91.56M | 70.00M | 55.97M | 37.40M |
| Operating Cash Flow | 150.55M | 155.64M | 127.31M | 99.24M | 82.29M | 67.22M |
| Investing Cash Flow | -36.73M | -45.36M | -35.76M | -29.24M | -26.32M | -29.82M |
| Financing Cash Flow | -59.96M | -47.80M | -26.54M | -35.76M | -82.14M | -79.61M |
CorVel Technical Analysis
Positive
70.39
Price Trends
64.23
Positive
61.51
Positive
61.33
Positive
Market Momentum
1.74
Positive
55.49
Neutral
34.37
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CRVL, the sentiment is Positive. The current price of 70.39 is above the 20-day moving average (MA) of 67.87, above the 50-day MA of 64.23, and above the 200-day MA of 61.33, indicating a bullish trend. The MACD of 1.74 indicates Positive momentum. The RSI at 55.49 is Neutral, neither overbought nor oversold. The STOCH value of 34.37 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CRVL.
CorVel Risk Analysis
CorVel disclosed 32 risk factors in its most recent earnings report. CorVel reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
CorVel Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $23.90B | 19.73 | 9.62% | 0.92% | 34.22% | 3.21% | |
78 Outperform | $3.45B | 30.32 | 29.93% | ― | 7.09% | 14.95% | |
73 Outperform | $1.56B | 47.36 | 12.67% | ― | 33.12% | 45.43% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
65 Neutral | $609.23M | 27.65 | 13.01% | 2.30% | -4.12% | -20.24% | |
56 Neutral | $609.23M | 27.65 | 13.01% | 2.52% | -4.12% | -20.24% | |
54 Neutral | $4.31B | -26.48 | -10.59% | ― | 18.95% | -275.68% |
* Financial Sector Average
CRVL
CorVel
68.23
-22.11
-24.47%
BRO
Brown & Brown
71.42
-23.02
-24.37%
CRD.A
Crawford & Company A
13.27
2.62
24.60%
CRD.B
Crawford & Company B
12.09
2.12
21.24%
BWIN
Baldwin Insurance Group
30.88
-1.49
-4.60%
TWFG
TWFG, Inc. Class A
28.89
2.64
10.06%
CorVel Corporate Events
Executive/Board ChangesShareholder Meetings
CorVel Shareholders Back Board, Auditor and Executive Pay
Positive
Aug 11, 2026
At its annual meeting of stockholders held on August 6, 2026, CorVel Corporation shareholders elected six directors to serve until the 2027 annual meeting or until their successors are chosen. The voting results showed broad support for most nomin...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.