CorVel Corp (CRVL)

Activity ratios

Short-term

Turnover ratios

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
Inventory turnover — — — — — — — — — — — — — — — — — — — —
Receivables turnover 5.70 5.90 6.34 6.55 6.67 6.31 6.10 6.19 5.88 6.68 6.66 6.69 6.74 7.06 5.95 6.37 6.93 9.01 8.32 8.91
Payables turnover 42.70 45.48 43.31 43.96 42.13 41.95 36.21 30.35 39.93 45.95 40.51 44.78 39.98 41.44 45.06 40.15 35.12 30.69 32.94 29.67
Working capital turnover 6.75 7.30 7.87 9.13 9.47 10.02 9.46 8.45 6.90 6.32 5.46 5.02 5.18 5.51 6.01 6.65 7.86 7.97 6.90 6.55

CorVel Corp's activity ratios provide insight into how efficiently the company manages its inventories, receivables, payables, and working capital turnover over time.

1. Inventory Turnover: Unfortunately, there is no data available for CorVel Corp's inventory turnover ratio in the provided table. This makes it challenging to assess how quickly the company is converting its inventory into sales during each period.

2. Receivables Turnover: CorVel Corp's receivables turnover has remained relatively stable over the periods, ranging from 5.70 to 9.01. A higher turnover ratio indicates that the company is collecting its accounts receivable more efficiently. The consistent performance in this ratio suggests that CorVel Corp has been effective in managing its receivables.

3. Payables Turnover: The payables turnover ratio for CorVel Corp has fluctuated over the periods, with values ranging from 29.67 to 45.48. A higher turnover ratio implies that the company is paying its suppliers more quickly. The fluctuations in this ratio could indicate changes in payment terms or purchasing strategies over time.

4. Working Capital Turnover: CorVel Corp's working capital turnover has varied across the periods, indicating how effectively the company utilizes its working capital to generate revenue. The values have fluctuated between 5.02 and 10.02. A higher turnover ratio suggests that the company is efficiently using its working capital to fund its operations. CorVel Corp's performance in this ratio reflects varying levels of efficiency in utilizing its working capital.

In conclusion, while CorVel Corp demonstrates consistent performance in receivables turnover, the fluctuations in payables turnover and working capital turnover indicate potential changes in the company's working capital management strategies. Without information on inventory turnover, a comprehensive analysis of the company's overall activity efficiency is limited.

Average number of days

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
Days of inventory on hand (DOH) days — — — — — — — — — — — — — — — — — — — —
Days of sales outstanding (DSO) days 64.04 61.90 57.55 55.70 54.70 57.86 59.81 58.92 62.08 54.60 54.79 54.58 54.17 51.67 61.33 57.33 52.67 40.52 43.87 40.97
Number of days of payables days 8.55 8.02 8.43 8.30 8.66 8.70 10.08 12.02 9.14 7.94 9.01 8.15 9.13 8.81 8.10 9.09 10.39 11.89 11.08 12.30

Days of Inventory on Hand (DOH) for CorVel Corp have not been provided in the table, hence we are unable to analyze this particular activity ratio.

Days Sales Outstanding (DSO) for CorVel Corp have shown some volatility over the reported periods. The DSO has ranged from a low of 40.52 days to a high of 64.04 days. Generally, a lower DSO indicates that the company is collecting its accounts receivable more quickly, while a higher DSO may suggest potential issues with collecting payments from customers.

Number of Days of Payables for CorVel Corp has fluctuated as well, with a range from 7.94 days to 12.30 days. A lower number of days of payables may indicate that the company is paying its suppliers more quickly, while a higher number of days of payables may imply that the company is taking longer to pay its bills.

Overall, for a comprehensive assessment of CorVel Corp's activity ratios, it would be beneficial to track the trends over a longer period or compare them to industry benchmarks to understand how efficiently the company is managing its inventory, collecting receivables, and paying its bills.

Long-term

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
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
Total asset turnover 1.75 1.74 1.73 1.75 1.82 1.73 1.72 1.61 1.56 1.46 1.41 1.36 1.30 1.21 1.27 1.34 1.42 1.41 1.39 1.39

The fixed asset turnover ratio for CorVel Corp has shown a consistent trend of improvement over the past few quarters, increasing from 7.82 in Mar 31, 2021, to 9.26 in Mar 31, 2024. This indicates that the company is generating more revenue relative to its investment in fixed assets, reflecting operational efficiency and effective utilization of fixed assets in generating sales.

On the other hand, the total asset turnover ratio has been relatively stable, fluctuating within a narrow range between 1.56 and 1.82 over the same period. This suggests that CorVel Corp is efficiently utilizing its total assets to generate sales, maintaining a consistent level of revenue relative to its total asset base.

Overall, the improvement in the fixed asset turnover ratio combined with the stable total asset turnover ratio indicates that CorVel Corp has been effectively managing its assets to generate revenue and optimize its operational efficiency over the analyzed period.