CorVel Corp (CRVL)
Quick ratio
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 170,584 | 162,944 | 138,349 | 131,908 | 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 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 104,126 | 106,178 | 102,393 | 97,749 | 97,108 | 92,657 | 86,937 | 84,176 | 81,034 | 82,791 | 84,787 | 81,090 | 82,586 | 69,545 | 69,438 | 67,257 | 64,722 | 63,579 | 73,095 | 67,469 |
| Total current liabilities | US$ in thousands | 16,792 | 216,738 | 212,859 | 200,585 | 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 |
| Quick ratio | 16.36 | 1.24 | 1.13 | 1.14 | 1.10 | 1.06 | 0.96 | 0.91 | 0.91 | 0.86 | 0.91 | 0.97 | 1.05 | 1.09 | 1.23 | 1.35 | 1.26 | 1.21 | 1.20 | 1.17 |
March 31, 2025 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($170,584K
+ $—K
+ $104,126K)
÷ $16,792K
= 16.36
The quick ratio of CorVel Corp has shown fluctuations over the periods presented in the data. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets.
From June 30, 2020, to March 31, 2023, the quick ratio gradually increased from 1.17 to 0.91, reflecting a strengthening liquidity position. However, from March 31, 2023, to September 30, 2023, the quick ratio increased to 0.96 before reaching its lowest level at 0.86 on December 31, 2023.
Subsequently, the quick ratio recovered, increasing to 1.10 by March 31, 2024, and further improvement was observed reaching 1.24 by December 31, 2024. Unexpectedly, the quick ratio surged to 16.36 by March 31, 2025, which may be due to a significant increase in either the company's liquid assets or a significant decline in its current liabilities.
Overall, the quick ratio of CorVel Corp has displayed volatility, and investors may need to further investigate the reasons behind these fluctuations to assess the company's liquidity risk and financial health accurately.