10-Q · November 6, 2025
CorVel reported Q3 revenue of $239,643,000, up from $224,380,000 a year earlier, with gross profit of $58,177,000 and operating income of $35,900,000. Diluted EPS rose to $0.54 from $0.45 in the prior-year quarter. Cash…
Earnings analysis · 10-K
CRVL earnings analysis
Filed May 22, 2026 · Our reading of the company's report
The latest report
CorVel Corporation's fiscal 2026 results show a 7% revenue increase to $959 million, amounting to a 17% rise in diluted EPS to $2.14, fueled by strong performance in network solutions services. The company also…
Read full summary
CorVel Corporation's fiscal 2026 results show a 7% revenue increase to $959 million, amounting to a 17% rise in diluted EPS to $2.14, fueled by strong performance in network solutions services. The company also maintained robust cash flow, with operating cash flow up 22% to $155.6 million, while continuing its stock repurchase program, indicating a focused approach on capital return amidst strategic growth plans.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $2.14
- Segment
- Patient management services
- Segment
- Network solutions services
What stood out
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Revenue Growth of 7% Year-over-Year
Total revenue increased to $959 million in fiscal 2026 from $896 million in fiscal 2025, driven by network solutions.
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17% Increase in EPS
Diluted earnings per share rose from $1.83 to $2.14, reflecting increased income of $110.3 million.
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Strong Free Cash Flow
Operating cash flow grew by 22%, reaching $155.6 million, supporting ongoing capital allocation plans.
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Increased Gross Profit Margin
Gross profit increased to $232.9 million, with gross margin improving to 24.3% from 23.4%.
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Stock Repurchase Program Continues
The company repurchased $56.2 million worth of stock in fiscal 2026, totaling 782,744 shares.
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Effective Management of Expenses
General and administrative expenses increased modestly by 1% to $89.7 million, maintaining historical ratios.
What to watch
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Dependence on Workers' Compensation Market
Revenue growth may be impacted by declines in workers' compensation claims, influencing service demand.
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Increased Competition
The managed care market is fragmented and competitive; increased competition could pressure margins.
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Cybersecurity Threats
Increased risk of cyberattacks amid rising industry threats, potentially compromising customer trust and operational stability.
Management's outlook
No explicit numeric guidance provided, outlook discussed in earnings release.
Earlier filings 4
10-Q · August 7, 2025
CorVel reported a strong quarter: revenue of $234,711,000 (up $22,989,000 or ~10.9% YoY), gross profit of $56,761,000 and diluted EPS of $0.52 (up $0.10 YoY). Margins expanded (gross to ~24.2%, operating to ~15.0%) and…
10-Q · August 1, 2024
CorVel reported Q1 revenue of $211.722M, up $21.469M (+11.3%) year-over-year, with gross profit of $48.155M and diluted EPS of $1.25 (vs $1.14 YoY). Operating cash flow was strong at $40.439M and free cash flow was…
10-K · May 24, 2024
CorVel emphasizes a technology-led, integrated cost-containment strategy built around its CareMC platform, a proprietary AI rules engine and a national PPO network. Fiscal 2024 actions include a material…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.