CorVel Corp (CRVL)
Current ratio
| Mar 31, 2024 | Mar 31, 2023 | Mar 31, 2022 | Mar 31, 2021 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 302,231 | 243,770 | 264,994 | 268,941 | 208,991 |
| Total current liabilities | US$ in thousands | 184,499 | 167,887 | 171,370 | 162,460 | 133,689 |
| Current ratio | 1.64 | 1.45 | 1.55 | 1.66 | 1.56 |
March 31, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $302,231K ÷ $184,499K
= 1.64
The current ratio of CorVel Corp has varied over the past five years, ranging from 1.45 to 1.66. The current ratio indicates the company's ability to cover its short-term liabilities with its current assets. A current ratio above 1 suggests that the company has more current assets than current liabilities, which is generally considered a positive sign of financial health.
In the most recent year, as of March 31, 2024, CorVel Corp's current ratio stands at 1.64, indicating that the company has $1.64 in current assets for every $1 in current liabilities. This suggests that the company is in a good position to meet its short-term obligations.
However, it is worth noting that the current ratio has fluctuated over the years, with a downward trend from 1.66 in 2021 to 1.45 in 2023, before increasing to 1.64 in 2024. This could indicate changes in the company's liquidity position or management of current assets and liabilities over time.
Overall, while the current ratio of CorVel Corp has shown some variability, the most recent ratio of 1.64 indicates a healthy liquidity position as of March 31, 2024. This suggests that the company is well-positioned to meet its short-term financial obligations.