CorVel Corp (CRVL)
Payables turnover
| Mar 31, 2025 | Mar 31, 2024 | Mar 31, 2023 | Mar 31, 2022 | Mar 31, 2021 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 685,861 | 623,618 | 560,303 | 494,116 | 429,020 |
| Payables | US$ in thousands | — | 16,410 | 15,058 | 14,080 | 12,353 |
| Payables turnover | — | 38.00 | 37.21 | 35.09 | 34.73 |
March 31, 2025 calculation
Payables turnover = Cost of revenue ÷ Payables
= $685,861K ÷ $—K
= —
Based on the data provided, CorVel Corp's payables turnover has been steadily increasing over the years. The payables turnover ratio reflects how efficiently the company is managing its accounts payable.
In the year ending March 31, 2021, the payables turnover was 34.73 times. This indicates that CorVel Corp paid off its accounts payable approximately 34.73 times during that year. By March 31, 2025, the payables turnover had reached 38.00, showing a further improvement in the efficiency of paying off its payables.
A higher payables turnover ratio generally implies that the company is able to settle its obligations to suppliers more frequently, which can be a positive sign of good financial health and effective cash management. However, it is also essential to consider industry benchmarks and compare the ratios with those of competitors for a more comprehensive analysis.