CorVel Corp (CRVL)
Fixed asset turnover
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 895,589 | 871,308 | 845,638 | 816,780 | 795,311 | 773,521 | 750,604 | 732,508 | 718,562 | 704,478 | 689,600 | 669,917 | 646,230 | 620,381 | 597,379 | 575,664 | 552,644 | 554,158 | 560,744 | 571,686 |
| Property, plant and equipment | US$ in thousands | — | — | — | — | — | — | — | 110,395 | 82,770 | 82,066 | 82,506 | 116,155 | 76,268 | 114,271 | 70,053 | 115,127 | 88,041 | 72,483 | 71,980 | 74,360 |
| Fixed asset turnover | — | — | — | — | — | — | — | 6.64 | 8.68 | 8.58 | 8.36 | 5.77 | 8.47 | 5.43 | 8.53 | 5.00 | 6.28 | 7.65 | 7.79 | 7.69 |
March 31, 2025 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $895,589K ÷ $—K
= —
The fixed asset turnover ratio of CorVel Corp has shown some fluctuations over the past few quarters. The ratio was relatively stable around the range of 7.5 to 8 in the second half of 2020 and the first half of 2021. However, in the subsequent quarters, there was a notable decline in the ratio, reaching a low of 5.00 in June 2021, which indicates that the company was generating less revenue relative to its fixed assets during that period.
The ratio experienced some recovery in the following quarters, reaching a peak of 8.68 in March 2023, reflecting an improvement in the company's ability to generate revenue from its fixed assets. Subsequently, the ratio decreased slightly but remained relatively high in the range of 6 to 8 in the last few reported quarters.
The fluctuations in the fixed asset turnover ratio may indicate changes in the company's operational efficiency and utilization of its fixed assets. A higher ratio generally suggests better efficiency in utilizing fixed assets to generate revenue. It would be important to monitor future trends in the ratio to understand how efficiently CorVel Corp is managing its fixed assets to drive revenue growth.