CorVel Corp. (CRVL) Financial Statements (2024 and earlier)

Company Profile

Business Address 2010 MAIN STREE
IRVINE, CA 92614
State of Incorp. DE
Fiscal Year End March 31
Industry (SIC) 6411 - Insurance Agents, Brokers, and Service (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
3/31/2023
12/31/2022
MRQ
3/31/2022
3/31/2021
3/31/2020
3/31/2019
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments71,32978,03197,504139,71683,22391,713
Cash and cash equivalents71,32978,03197,504139,71683,22391,713
Receivables81,03482,79182,58664,72265,76771,336
Prepaid expense11,38513,06415,1238,00611,0107,176
Deposits current assets80,02282,85769,78156,49748,99145,268
Total current assets:243,770256,743264,994268,941208,991215,493
Noncurrent Assets
Operating lease, right-of-use asset27,72129,93635,02045,32490,666
Property, plant and equipment82,77082,06676,26870,61975,90061,980
Intangible assets, net (including goodwill)38,05838,16438,48338,91839,35439,789
Goodwill36,81436,81436,81436,81436,81436,814
Intangible assets, net (excluding goodwill)1,2441,3501,6692,1042,5402,975
Deferred income tax assets224  613 
Other noncurrent assets1,3807784813451,349756
Total noncurrent assets:150,153150,944150,252155,819207,269102,525
TOTAL ASSETS:393,923407,687415,246424,760416,260318,018
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities167,636184,512171,370162,460132,471105,441
Taxes payable3511,221  
Accounts payable15,05814,70214,08012,35315,145 
Accrued liabilities152,578169,810156,939148,886117,326105,441
Liability for uncertainty in income taxes     1,218 
Other undisclosed current liabilities2511,914   11,478
Total current liabilities:167,887186,426171,370162,460133,689116,919
Noncurrent Liabilities
Long-term debt and lease obligation:   29,79241,89885,096 
Liabilities, other than long-term debt23,86025,7731,689 7,7646,294
Deferred tax liabilities, net6,294
Deferred income tax liabilities   1,689 7,764
Operating lease, liability23,86025,77329,79241,89885,096
Other undisclosed noncurrent liabilities  683 (41,898)  
Total noncurrent liabilities:23,86026,45631,48141,89892,8606,294
Total liabilities:191,747212,882202,851204,358226,549123,213
Equity
Equity, attributable to parent, including:202,176194,805212,395220,402189,711194,805
Common stock333333
Treasury stock, value(748,195)(729,601)(654,520)(564,435) (466,156)
Additional paid in capital218,700210,904201,609185,941168,935155,798
Retained earnings731,668713,499665,303598,893552,537505,160
Other undisclosed equity, attributable to parent     (531,764) 
Total equity:202,176194,805212,395220,402189,711194,805
TOTAL LIABILITIES AND EQUITY:393,923407,687415,246424,760416,260318,018

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
3/31/2023
12/31/2022
TTM
3/31/2022
3/31/2021
3/31/2020
3/31/2019
Revenues718,562772,215646,230552,644592,225595,740
Cost of revenue
(Cost of Goods and Services Sold)
(560,303)(591,699)(494,116)(429,020)(466,304)(470,931)
Gross profit:158,259180,516152,114123,624125,921124,809
Operating expenses(73,705)(73,866)(67,602)(64,449)(65,210)(63,296)
Operating income:84,554106,65084,51259,17560,71161,513
Interest and debt expense(92)(117)(98)(77)  
Income from continuing operations before equity method investments, income taxes:84,462106,53384,41459,09860,71161,513
Other undisclosed income from continuing operations before income taxes921179877  
Income from continuing operations before income taxes:84,554106,65084,51259,17560,71161,513
Income tax expense(18,189)(23,591)(18,102)(12,819)(13,334)(14,810)
Income from continuing operations:66,36583,05966,41046,35647,37746,703
Income before gain (loss) on sale of properties:66,21066,41046,35647,37746,703
Net income available to common stockholders, diluted:66,36583,05966,41046,35647,37746,703

Comprehensive Income ($ in thousands)

9/30/2023
TTM
3/31/2023
12/31/2022
TTM
3/31/2022
3/31/2021
3/31/2020
3/31/2019
Net income:66,36583,05966,41046,35647,37746,703
Comprehensive income, net of tax, attributable to parent:66,36583,05966,41046,35647,37746,703

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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