CorVel Corp (CRVL)
Working capital 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 |
| Total current assets | US$ in thousands | 386,689,000 | 302,231 | 243,770 | 264,994 | 268,941 |
| Total current liabilities | US$ in thousands | 204,036,000 | 184,499 | 167,887 | 171,370 | 162,460 |
| Working capital turnover | 0.00 | 6.76 | 9.47 | 6.90 | 5.19 |
March 31, 2025 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $895,589K ÷ ($386,689,000K – $204,036,000K)
= 0.00
The working capital turnover ratio for CorVel Corp has shown fluctuations over the years. It increased steadily from 5.19 in March 2021 to 9.47 in March 2023, indicating that the company efficiently utilized its working capital to generate revenue during this period. However, there was a significant decrease to 6.76 in March 2024, which suggests a potential decline in the efficiency of working capital management.
Interestingly, the ratio dropped to 0.00 in March 2025, which could indicate a situation where the company's working capital was not effectively used to support its operations or generate sales revenue during that period. This abrupt drop may require further investigation to understand the underlying reasons and implications for the company's financial performance.