CorVel (NasdaqGS:CRVL) - Share price, News & Analysis

Q: What is the Fair Price of CRVL when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

CRVL ($148.06) is trading above our estimate of [[fair value]] ($45.41)

CRVL fundamental analysis
Snowflake Score
Valuation	1/6
Future Growth	0/6
Past Performance	5/6
Financial Health	6/6
Dividends	0/6

CRVL Stock Overview

Rewards

Earnings grew by 43.3% over the past year

Risk Analysis

High level of non-cash earnings

Significant insider selling over the past 3 months

CorVel Competitors

Agiliti

NYSE:AGTI

US$2.8b

Signify Health

NYSE:SGFY

US$3.6b

Amedisys

NasdaqGS:AMED

US$3.8b

LHC Group

NasdaqGS:LHCG

US$4.9b

Price History & Performance

Summary of all time highs, changes and price drops for CorVel
Historical stock prices
Current Share Price	US$148.06
52 Week High	US$213.38
52 Week Low	US$129.19
Beta	0.98
1 Month Change	-2.68%
3 Month Change	-10.05%
1 Year Change	12.60%
3 Year Change	70.16%
5 Year Change	212.03%
Change since IPO	14,503.18%

Recent News & Updates

Jun 23

Many Would Be Envious Of CorVel's (NASDAQ:CRVL) Excellent Returns On Capital

If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...

May 18

Here's Why I Think CorVel (NASDAQ:CRVL) Is An Interesting Stock

For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...

Shareholder Returns

	CRVL	US Healthcare	US Market
7D	8.9%	7.8%	6.6%
1Y	12.6%	2.5%	-18.4%

Return vs Industry: CRVL exceeded the US Healthcare industry which returned 2.4% over the past year.

Return vs Market: CRVL exceeded the US Market which returned -18.4% over the past year.

Price Volatility

Is CRVL's price volatile compared to industry and market?
CRVL volatility
CRVL Average Weekly Movement	5.0%
Healthcare Industry Average Movement	9.5%
Market Average Movement	8.1%
10% most volatile stocks in US Market	16.6%
10% least volatile stocks in US Market	3.2%

Stable Share Price: CRVL is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: CRVL's weekly volatility (5%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1987	4,233	Michael Combs	https://www.corvel.com

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.

CorVel Fundamentals Summary

How do CorVel's earnings and revenue compare to its market cap?
CRVL fundamental statistics
Market Cap	US$2.59b
Earnings (TTM)	US$66.41m
Revenue (TTM)	US$646.23m

39.0x

P/E Ratio

4.0x

P/S Ratio

Is CRVL overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
CRVL income statement (TTM)
Revenue	US$646.23m
Cost of Revenue	US$494.12m
Gross Profit	US$152.11m
Other Expenses	US$85.70m
Earnings	US$66.41m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	3.80
Gross Margin	23.54%
Net Profit Margin	10.28%
Debt/Equity Ratio	0%

How did CRVL perform over the long term?

See historical performance and comparison

We’ve recently updated our valuation analysis.

Valuation

Is CRVL undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CRVL?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for CRVL. This is calculated by dividing CRVL's market cap by their current preferred multiple.
What is CRVL's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	US$2.59b

CRVL key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	3.9x
Enterprise Value/EBITDA	23.4x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

How does CRVL's PE Ratio compare to its peers?

CRVL PE Ratio vs Peers

The above table shows the PE ratio for CRVL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	58.6x
AGTI Agiliti	81.6x	41.6%	US$2.8b
SGFY Signify Health	84.6x	58.6%	US$3.6b
AMED Amedisys	19.7x	10.9%	US$3.8b
LHCG LHC Group	48.4x	19.9%	US$4.9b
CRVL CorVel	39x	n/a	US$2.6b

Forward PE

Price-To-Earnings vs Peers: CRVL is good value based on its Price-To-Earnings Ratio (39x) compared to the peer average (58.6x).

Price to Earnings Ratio vs Industry

How does CRVL's PE Ratio compare vs other companies in the US Healthcare Industry?

Price-To-Earnings vs Industry: CRVL is expensive based on its Price-To-Earnings Ratio (39x) compared to the US Healthcare industry average (18.7x)

Price to Earnings Ratio vs Fair Ratio

What is CRVL's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CRVL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	39x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate CRVL's Price-To-Earnings Fair Ratio for valuation analysis.

Share Price vs Fair Value

What is the Fair Price of CRVL when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: CRVL ($148.06) is trading above our estimate of fair value ($45.41)

Significantly Below Fair Value: CRVL is trading above our estimate of fair value.

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate CRVL's PEG Ratio to determine if it is good value.

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Future Growth

How is CorVel forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

12.3%

Forecasted Healthcare industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as CorVel has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

Discover growth companies

Check out CorVel's track record over time to understand how much the company has returned to shareholders and its earnings growth rate in the past.

Past Performance

How has CorVel performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

12.5%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: CRVL has a high level of non-cash earnings.

Growing Profit Margin: CRVL's current net profit margins (10.3%) are higher than last year (8.4%).

Past Earnings Growth Analysis

Earnings Trend: CRVL's earnings have grown by 12.5% per year over the past 5 years.

Accelerating Growth: CRVL's earnings growth over the past year (43.3%) exceeds its 5-year average (12.5% per year).

Earnings vs Industry: CRVL earnings growth over the past year (43.3%) exceeded the Healthcare industry 9.8%.

Return on Equity

High ROE: CRVL's Return on Equity (31.3%) is considered high.

Discover strong past performing companies

Financial Health

How is CorVel's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: CRVL's short term assets ($265.0M) exceed its short term liabilities ($171.4M).

Long Term Liabilities: CRVL's short term assets ($265.0M) exceed its long term liabilities ($31.5M).

Debt to Equity History and Analysis

Debt Level: CRVL is debt free.

Reducing Debt: CRVL has not had any debt for past 5 years.

Debt Coverage: CRVL has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: CRVL has no debt, therefore coverage of interest payments is not a concern.

Balance Sheet

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Dividend

What is CorVel current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate CRVL's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate CRVL's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if CRVL's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if CRVL's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as CRVL has not reported any payouts.

Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

5.7yrs

Average management tenure

CEO

Michael Combs (57 yo)

5.17yrs

Tenure

US$1,510,130

Compensation

Mr. Michael G. Combs has been the President of CorVel Corporation since April 1, 2017 and has been its Chief Executive Officer since January 18, 2019. Mr. Combs Chief Information Officer at CorVel Corp fro...

CEO Compensation Analysis

Compensation vs Market: Michael's total compensation ($USD1.51M) is below average for companies of similar size in the US market ($USD6.88M).

Compensation vs Earnings: Michael's compensation has been consistent with company performance over the past year.

Leadership Team

Experienced Management: CRVL's management team is seasoned and experienced (5.7 years average tenure).

Board Members

Experienced Board: CRVL's board of directors are seasoned and experienced ( 28 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: CRVL insiders have only sold shares in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/06/26 00:00
End of Day Share Price	2022/06/24 00:00
Earnings	2022/03/31
Annual Earnings	2022/03/31