CorVel Corp (CRVL)
Gross profit margin
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (ttm) | US$ in thousands | 171,693 | 170,241 | 168,426 | 160,268 | 158,259 | 159,360 | 154,203 | 154,770 | 152,114 | 144,781 | 140,486 | 134,328 | 123,624 | 118,596 | 116,956 | 119,296 | 125,921 | 127,842 | 127,943 | 126,590 |
| Revenue (ttm) | US$ in thousands | 795,233 | 773,443 | 750,524 | 732,427 | 718,490 | 704,406 | 689,527 | 669,842 | 646,167 | 620,318 | 597,314 | 575,598 | 552,099 | 553,613 | 560,225 | 571,193 | 592,201 | 596,261 | 594,251 | 595,457 |
| Gross profit margin | 21.59% | 22.01% | 22.44% | 21.88% | 22.03% | 22.62% | 22.36% | 23.11% | 23.54% | 23.34% | 23.52% | 23.34% | 22.39% | 21.42% | 20.88% | 20.89% | 21.26% | 21.44% | 21.53% | 21.26% |
March 31, 2024 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $171,693K ÷ $795,233K
= 21.59%
CorVel Corp's gross profit margin has shown some fluctuations over the past few quarters. The gross profit margin indicates the efficiency of the company in generating profit from its core operations after accounting for the cost of goods sold.
From the data provided, we can observe that the gross profit margin has ranged from a low of 20.88% in September 2020 to a high of 23.54% in March 2022. The trend appears to have slightly decreased in recent quarters, with the gross profit margin hovering around the 22% range.
These fluctuations in the gross profit margin may be attributed to various factors such as changes in pricing strategies, cost of goods sold, or other operating expenses. It is important for stakeholders to monitor this ratio closely as it directly impacts the profitability of the company.
Overall, while the gross profit margin has shown some variability, it is essential for CorVel Corp to continue monitoring and managing its cost structure to ensure that it can maintain a healthy level of profitability in its core operations.