CRVL earnings analysis
What we found in CRVL's 10-K: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
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.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- 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.
- 17% Increase in EPS
- Diluted earnings per share rose from $1.83 to $2.14, reflecting increased income of $110.3 million.
- Strong Free Cash Flow
- Operating cash flow grew by 22%, reaching $155.6 million, supporting ongoing capital allocation plans.
- Increased Gross Profit Margin
- Gross profit increased to $232.9 million, with gross margin improving to 24.3% from 23.4%.
- Stock Repurchase Program Continues
- The company repurchased $56.2 million worth of stock in fiscal 2026, totaling 782,744 shares.
- Effective Management of Expenses
- General and administrative expenses increased modestly by 1% to $89.7 million, maintaining historical ratios.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Dependence on Workers' Compensation Market
- Revenue growth may be impacted by declines in workers' compensation claims, influencing service demand.
- Increased Competition
- The managed care market is fragmented and competitive; increased competition could pressure margins.
- Cybersecurity Threats
- Increased risk of cyberattacks amid rising industry threats, potentially compromising customer trust and operational stability.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $2.14
- Gross margin
- 24.3%
- Operating margin
- 14.92%
- Segment
- Patient management services
- Segment
- Network solutions services
What they said about what is next.
No explicit numeric guidance provided, outlook discussed in earnings release.
The filing reads better than the one before it.
What came before.
- 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…
- 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. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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