CorVel Corp (CRVL)
Receivables turnover
| Mar 31, 2025 | Mar 31, 2024 | Mar 31, 2023 | Mar 31, 2022 | Mar 31, 2021 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 895,589 | 795,311 | 718,562 | 646,230 | 552,644 |
| Receivables | US$ in thousands | 104,126,000 | 97,108 | 81,034 | 82,586 | 64,722 |
| Receivables turnover | 0.01 | 8.19 | 8.87 | 7.82 | 8.54 |
March 31, 2025 calculation
Receivables turnover = Revenue ÷ Receivables
= $895,589K ÷ $104,126,000K
= 0.01
CorVel Corp's receivables turnover has shown fluctuations over the years. In March 2021, the receivables turnover ratio was 8.54, indicating that the company collected its accounts receivable approximately 8.54 times during the year. However, in March 2025, the receivables turnover ratio dropped significantly to 0.01, suggesting a potential issue with the company's accounts receivable collection efficiency. It is important to investigate the reason behind this sharp decline in the receivables turnover ratio and take necessary actions to improve the collection process and overall liquidity management.