CorVel Corp (CRVL)
Fixed asset turnover
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 795,233 | 773,443 | 750,524 | 732,427 | 718,490 | 704,406 | 689,527 | 669,842 | 646,167 | 620,318 | 597,314 | 575,598 | 552,099 | 553,613 | 560,225 | 571,193 | 592,201 | 596,261 | 594,251 | 595,457 |
| Property, plant and equipment | US$ in thousands | 85,892 | 85,216 | 84,939 | 84,276 | 82,770 | 82,066 | 82,506 | 83,707 | 76,268 | 70,884 | 70,053 | 70,736 | 70,619 | 72,483 | 71,980 | 74,360 | 75,900 | 76,955 | 72,294 | 68,208 |
| Fixed asset turnover | 9.26 | 9.08 | 8.84 | 8.69 | 8.68 | 8.58 | 8.36 | 8.00 | 8.47 | 8.75 | 8.53 | 8.14 | 7.82 | 7.64 | 7.78 | 7.68 | 7.80 | 7.75 | 8.22 | 8.73 |
March 31, 2024 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $795,233K ÷ $85,892K
= 9.26
CorVel Corp's fixed asset turnover ratio has demonstrated a consistent trend over the past 20 quarters. The ratio has generally been above 7.5, indicating that the company is effectively utilizing its fixed assets to generate revenue.
The ratio peaked at 9.26 in March 2024 and has ranged between 8.00 and 9.26 over the period under review. This steady performance suggests that CorVel Corp has been efficiently generating sales relative to its investment in fixed assets.
Overall, the high fixed asset turnover ratios imply that CorVel Corp is effectively managing and utilizing its fixed assets to generate revenue, which is a positive indicator of operational efficiency and asset utilization within the company.