CorVel Corp (CRVL)
Receivables turnover
| Mar 31, 2024 | Mar 31, 2023 | Mar 31, 2022 | Mar 31, 2021 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 794,935 | 718,055 | 646,010 | 551,977 | 592,076 |
| Receivables | US$ in thousands | 139,525 | 107,673 | 109,893 | 81,935 | 85,459 |
| Receivables turnover | 5.70 | 6.67 | 5.88 | 6.74 | 6.93 |
March 31, 2024 calculation
Receivables turnover = Revenue ÷ Receivables
= $794,935K ÷ $139,525K
= 5.70
The receivables turnover ratio for CorVel Corp has fluctuated over the past five years. In Mar 31, 2024, the company's receivables turnover ratio was 5.70, which indicates that CorVel Corp collected its accounts receivables approximately 5.70 times during the year.
Comparing this to the previous years, we can see a slight decrease from the ratio of 6.67 in Mar 31, 2023, and a decrease from the ratio of 6.74 in Mar 31, 2021. However, it is higher than the ratio of 5.88 in Mar 31, 2022, and 6.93 in Mar 31, 2020.
A lower receivables turnover ratio may suggest that the company is taking longer to collect its accounts receivables, which could potentially lead to cash flow issues. Further analysis would be needed to determine the reasons behind the fluctuations in the receivables turnover ratio and whether there are any underlying issues that need to be addressed by CorVel Corp.