CorVel Corp (CRVL)
Total asset 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 |
| Total assets | US$ in thousands | 454,679 | 393,923 | 415,246 | 424,760 | 416,260 |
| Total asset turnover | 1.75 | 1.82 | 1.56 | 1.30 | 1.42 |
March 31, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $794,935K ÷ $454,679K
= 1.75
The total asset turnover ratio for CorVel Corp has fluctuated over the past five years. The ratio indicates how efficiently the company is utilizing its assets to generate revenue. The decreasing trend from 1.42 in 2020 to 1.30 in 2021, followed by an increase to 1.56 in 2022, and further to 1.82 in 2023, suggests improved efficiency in asset utilization. However, the ratio decreased to 1.75 in 2024, indicating a slight decline in the company's ability to generate revenue relative to its total assets compared to the previous year. Overall, the company has shown varying levels of asset turnover efficiency over the years, with the most recent ratio indicating a modest decrease in asset utilization efficiency.