CorVel Corp (CRVL)

Total asset turnover

		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
Revenue (ttm)	US$ in thousands	795,233	773,443	750,524	732,427	718,490	704,406	689,527	669,842	646,167	620,318	597,314	575,598	552,099	553,613	560,225	571,193	592,201	596,261	594,251	595,457
Total assets	US$ in thousands	454,679	444,995	434,117	417,573	393,923	407,687	399,886	415,677	415,246	423,708	424,901	422,483	424,760	457,865	441,580	425,009	416,260	422,080	426,769	427,864
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

March 31, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $795,233K ÷ $454,679K
= 1.75

CorVel Corp's total asset turnover ratio has exhibited a fluctuating trend over the past few quarters. The ratio has ranged from 1.21 to 1.82, indicating the efficiency with which the company is utilizing its assets to generate revenue. Generally, a higher total asset turnover ratio is preferred as it suggests that the company is generating more revenue per dollar of assets owned.

In the latest quarter, the total asset turnover ratio stood at 1.75, showing a slight improvement compared to the previous quarter but still lower than the peak ratio of 1.82. This implies that CorVel Corp is effectively generating revenue relative to its total assets, although there may be room for further improvement.

It is important for the company to continue monitoring and optimizing its asset management practices to enhance efficiency and profitability. Additionally, a consistent upward trend in the total asset turnover ratio would be indicative of improved operational performance and financial health.