CorVel Corp (CRVL)

Payables 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
Cost of revenue (ttm)	US$ in thousands	692,587	689,553	681,325	658,963	637,045	610,024	582,178	572,240	560,303	545,118	535,397	515,147	494,116	475,600	456,893	441,336	429,020	435,562	443,788	452,390
Payables	US$ in thousands	—	14,585	13,700	12,369	16,410	14,925	15,148	14,653	15,058	14,702	16,744	19,279	14,080	11,821	12,934	11,329	12,353	12,065	11,280	12,897
Payables turnover		—	47.28	49.73	53.28	38.82	40.87	38.43	39.05	37.21	37.08	31.98	26.72	35.09	40.23	35.32	38.96	34.73	36.10	39.34	35.08

March 31, 2025 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $692,587K ÷ $—K
= —

CorVel Corp's payables turnover ratio has shown some fluctuations over the period from June 30, 2020, to March 31, 2025. The ratio indicates how efficiently the company is able to manage its accounts payable by measuring how many times a company pays off its average accounts payable balance during a certain period.

From June 2020 to March 2025, the payables turnover ratio ranged from a low of 26.72 to a high of 53.28. Generally, a higher payables turnover ratio is considered more favorable as it suggests the company is paying off its suppliers quickly. This may indicate strong liquidity or good relationships with suppliers.

CorVel Corp experienced an increase in the payables turnover ratio from June 2020 to June 2024, indicating an improvement in the company's ability to manage its payables efficiently. However, there is missing data for March 31, 2025, which makes it difficult to provide a definitive trend analysis for the most recent period.

It is important for CorVel Corp to monitor its payables turnover ratio consistently to ensure efficient management of its accounts payable and maintain good relationships with its suppliers. Additionally, further analysis and comparison with industry benchmarks could provide more insights into the company's performance in managing trade payables.