Corvel (CRVL) FY2023 results: revenue $719 million, up 11.2% on the year
Corvel Corp. (CRVL) reported revenue of $719 million for fiscal 2023, the year ended 31 March 2023, up 11.2% on the year before. Net income was $66 million, down 0.1%, and diluted earnings per share $1.26. The figures are the company's own, from the 10-K it filed with the SEC on 23 May 2025.
Revenue
$719 million
+11.2% on the year
FY2017FY2023
Operating margin
n/a
FY2017FY2023
Net income
$66 million
-0.1% on the year
FY2017FY2023
Diluted EPS
$1.26
+3.0% on the year
FY2017FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
82.3
67.2
94.4
+22.4%
Capital expenditure
26.3
29.8
17.2
-11.7%
Free cash flow
56.0
37.4
77.1
+49.6%
Free cash flow margin
7.8%
5.8%
14.0%
Cash from investing
-26.3
-29.8
-17.2
Cash from financing
-82.1
-79.6
-20.6
Depreciation and amortisation
25.1
23.9
23.4
+5.0%
Share-based compensation
5.6
5.2
5.0
+6.9%
Buybacks
93.7
90.1
32.7
+4.0%
Diluted shares, weighted
53m
54m
54m
-3.0%
Shares outstanding at period end
52m
53m
54m
-2.3%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
202
212
220
-4.8%
Operating lease liabilities
23.9
29.8
41.9
-19.9%
Other liabilities
168
173
162
-3.0%
Total liabilities and equity
394
415
425
-5.1%
Fixed assets
82.8
76.3
70.6
+8.5%
Goodwill
36.8
36.8
36.8
0.0%
Intangible assets
1.2
1.7
2.1
-25.5%
Cash and equivalents
71.3
97.5
140
-26.8%
Receivables
81.0
82.6
64.7
-1.9%
Other assets
121
120
111
+0.3%
Total assets
394
415
425
-5.1%
10-K for the year ended 31 March 2023, filed 23 May 2025: the filing.