CorVel Income Statement

Financials in millions USD. Fiscal year is April - March.

Millions USD. Fiscal year is Apr - Mar.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021
Revenue	941.49	895.59	795.31	718.56	646.23	552.64
Revenue Growth (YoY)	8.05%	12.61%	10.68%	11.19%	16.93%	-6.68%
Cost of Revenue	713.46	685.86	623.62	560.3	494.12	429.02
Gross Profit	228.04	209.73	171.69	158.26	152.11	123.62
Selling, General & Admin	91.3	88.9	76.59	73.71	67.6	64.45
Operating Expenses	91.3	88.9	76.59	73.71	67.6	64.45
Operating Income	136.74	120.82	95.1	84.55	84.51	59.18
Pretax Income	136.74	120.82	95.1	84.55	84.51	59.18
Income Tax Expense	31	25.66	18.85	18.19	18.1	12.82
Net Income	105.73	95.17	76.25	66.37	66.41	46.36
Net Income to Common	105.73	95.17	76.25	66.37	66.41	46.36
Net Income Growth	19.88%	24.80%	14.90%	-0.07%	43.26%	-2.15%
Shares Outstanding (Basic)	51	51	51	52	53	54
Shares Outstanding (Diluted)	52	52	52	53	54	54
Shares Change (YoY)	-0.38%	-0.09%	-1.39%	-2.95%	-0.21%	-2.34%
EPS (Basic)	2.06	1.85	1.48	1.28	1.25	0.86
EPS (Diluted)	2.04	1.83	1.47	1.26	1.22	0.85
EPS Growth	20.00%	24.49%	16.67%	3.28%	43.53%	-
Free Cash Flow	104.25	91.56	70	55.97	37.4	77.14
Free Cash Flow Per Share	2.01	1.76	1.34	1.06	0.69	1.42
Gross Margin	24.22%	23.42%	21.59%	22.02%	23.54%	22.37%
Operating Margin	14.52%	13.49%	11.96%	11.77%	13.08%	10.71%
Profit Margin	11.23%	10.63%	9.59%	9.24%	10.28%	8.39%
Free Cash Flow Margin	11.07%	10.22%	8.80%	7.79%	5.79%	13.96%
EBITDA	167.84	150.36	121.35	109.68	108.43	82.61
EBITDA Margin	17.83%	16.79%	15.26%	15.26%	16.78%	14.95%
D&A For EBITDA	31.1	29.54	26.25	25.12	23.92	23.44
EBIT	136.74	120.82	95.1	84.55	84.51	59.18
EBIT Margin	14.52%	13.49%	11.96%	11.77%	13.08%	10.71%
Effective Tax Rate	22.67%	21.24%	19.82%	21.51%	21.42%	21.66%

Updated Feb 3, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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