CorVel Corp (CRVL)
Cash ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 105,563 | 106,994 | 91,749 | 86,593 | 71,329 | 78,031 | 75,625 | 94,308 | 97,504 | 115,538 | 131,075 | 138,662 | 139,716 | 128,829 | 106,082 | 94,111 | 83,223 | 89,628 | 97,920 | 104,425 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 184,499 | 188,387 | 186,499 | 187,731 | 167,887 | 186,426 | 175,510 | 181,405 | 171,370 | 170,537 | 162,648 | 152,258 | 162,460 | 158,822 | 149,077 | 138,535 | 133,689 | 135,725 | 132,941 | 130,735 |
| Cash ratio | 0.57 | 0.57 | 0.49 | 0.46 | 0.42 | 0.42 | 0.43 | 0.52 | 0.57 | 0.68 | 0.81 | 0.91 | 0.86 | 0.81 | 0.71 | 0.68 | 0.62 | 0.66 | 0.74 | 0.80 |
March 31, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($105,563K
+ $—K)
÷ $184,499K
= 0.57
The cash ratio of CorVel Corp has shown some fluctuations over the past few quarters. The cash ratio measures the company's ability to cover its short-term liabilities with its cash and cash equivalents.
Looking at the data provided:
- The cash ratio has ranged from 0.42 to 0.91 over the past two years.
- The trend shows that the cash ratio generally increased from the third quarter of 2021 to the second quarter of 2022, peaking at 0.91.
- However, the cash ratio has since declined, with some fluctuations, reaching 0.57 as of March 31, 2024, which is the same as the ratio recorded at the end of 2023.
- A cash ratio above 1 indicates that the company has sufficient cash to cover its short-term liabilities. In this case, the ratios provided suggest that CorVel Corp may have had some liquidity challenges during certain quarters within the period analyzed.
Overall, while the cash ratio of CorVel Corp has fluctuated over the past few quarters, it is important for the company to closely monitor its liquidity position to ensure it can meet its short-term obligations effectively.