Corvel (CRVL) FY2021 results: revenue $553 million, down 6.7% on the year
Corvel Corp. (CRVL) reported revenue of $553 million for fiscal 2021, the year ended 31 March 2021, down 6.7% on the year before. Net income was $46 million, down 2.2%, and diluted earnings per share $0.85. The figures are the company's own, from the 10-K it filed with the SEC on 28 May 2021.
Revenue
$553 million
-6.7% on the year
FY2017FY2021
Operating margin
n/a
FY2017FY2021
Net income
$46 million
-2.2% on the year
FY2017FY2021
Diluted EPS
$0.85
0.0% on the year
FY2017FY2021
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Revenue
553
592
596
-6.7%
Cost of revenue
429
466
471
-8.0%
Gross profit
124
126
125
-1.8%
Gross margin
22.4%
21.3%
21.0%
Pre-tax income
59.2
60.7
61.5
-2.5%
Income tax
12.8
13.3
14.8
-3.9%
Effective tax rate
21.7%
22.0%
24.1%
Net income
46.4
47.4
46.7
-2.2%
Net margin
8.4%
8.0%
7.8%
Diluted EPS
$0.85
$0.85
$0.82
0.0%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
94.4
80.8
78.6
+16.8%
Capital expenditure
17.2
32.4
15.3
-46.7%
Free cash flow
77.1
48.5
63.4
+59.2%
Free cash flow margin
14.0%
8.2%
10.6%
Cash from investing
-17.2
-32.4
-15.3
Cash from financing
-20.6
-57.0
-27.4
Depreciation and amortisation
23.4
22.5
23.0
+4.1%
Share-based compensation
5.0
4.5
4.3
+11.0%
Buybacks
32.7
65.6
35.2
-50.2%
Diluted shares, weighted
54m
56m
57m
-2.3%
Shares outstanding at period end
54m
54m
56m
-0.5%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
220
190
195
+16.2%
Operating lease liabilities
41.9
85.1
0.0
-50.8%
Other liabilities
162
141
123
+14.9%
Total liabilities and equity
425
416
318
+2.0%
Fixed assets
70.6
75.9
62.0
-7.0%
Goodwill
36.8
36.8
36.8
0.0%
Intangible assets
2.1
2.5
3.0
-17.2%
Cash and equivalents
140
83.2
91.7
+67.9%
Receivables
64.7
65.8
71.3
-1.6%
Other assets
111
152
53.2
-27.1%
Total assets
425
416
318
+2.0%
10-K for the year ended 31 March 2021, filed 28 May 2021: the filing.