CorVel Corp (CRVL)
Current 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 302,231 | 294,392 | 281,875 | 267,950 | 243,770 | 256,743 | 248,383 | 260,635 | 264,994 | 268,675 | 272,046 | 266,877 | 268,941 | 259,232 | 242,308 | 224,436 | 208,991 | 210,552 | 219,086 | 221,609 |
| 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 |
| Current ratio | 1.64 | 1.56 | 1.51 | 1.43 | 1.45 | 1.38 | 1.42 | 1.44 | 1.55 | 1.58 | 1.67 | 1.75 | 1.66 | 1.63 | 1.63 | 1.62 | 1.56 | 1.55 | 1.65 | 1.70 |
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 displayed some fluctuations over the past few quarters. The ratio measures the company's ability to cover its short-term liabilities with its current assets.
The current ratio has generally been above 1, indicating that CorVel Corp has had sufficient current assets to cover its current liabilities throughout the periods analyzed. A current ratio above 1 is typically considered healthy, as it suggests the company is capable of meeting its short-term obligations.
The current ratio has ranged from a low of 1.38 to a high of 1.75 over the periods analyzed. While the ratio has fluctuated, it has generally remained within a reasonable range, indicating a stable liquidity position for the company.
Overall, the current ratio analysis suggests that CorVel Corp has maintained a strong liquidity position, with the ability to meet its short-term obligations using its current assets. It is important for the company to continue monitoring and managing its current assets and liabilities to ensure the ratio remains at an optimal level for financial health and operational stability.