CorVel Corp (CRVL)

Operating 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
Operating income (ttm)	US$ in thousands	115,471	114,019	113,874	107,705	103,459	104,560	100,025	101,483	101,135	93,802	90,076	85,016	74,345	69,317	67,614	68,921	76,378	78,299	79,597	79,743
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
Operating profit margin		14.52%	14.74%	15.17%	14.71%	14.40%	14.84%	14.51%	15.15%	15.65%	15.12%	15.08%	14.77%	13.47%	12.52%	12.07%	12.07%	12.90%	13.13%	13.39%	13.39%

March 31, 2024 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $115,471K ÷ $795,233K
= 14.52%

The operating profit margin of CorVel Corp has shown some variability over the past several quarters. The margin ranged from a low of 12.07% in June 2020 to a high of 15.65% in March 2022. Despite fluctuations, the operating profit margin has generally remained above 12% over the period under review. This indicates that the company has been able to effectively manage its operating expenses relative to its revenue generation, leading to consistent profitability at the operating level. The company's ability to maintain operating profit margins above 12% demonstrates operational efficiency and effective cost management strategies.