CorVel Corp (CRVL)
Pretax margin
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 120,825 | 110,102 | 101,664 | 97,708 | 95,101 | 95,097 | 94,952 | 88,783 | 84,553 | 88,219 | 83,684 | 85,142 | 84,512 | 77,606 | 73,880 | 68,820 | 59,176 | 54,649 | 52,946 | 54,253 |
| Revenue (ttm) | US$ in thousands | 895,589 | 871,308 | 845,638 | 816,780 | 795,311 | 773,521 | 750,604 | 732,508 | 718,562 | 704,478 | 689,600 | 669,917 | 646,230 | 620,381 | 597,379 | 575,664 | 552,644 | 554,158 | 560,744 | 571,686 |
| Pretax margin | 13.49% | 12.64% | 12.02% | 11.96% | 11.96% | 12.29% | 12.65% | 12.12% | 11.77% | 12.52% | 12.14% | 12.71% | 13.08% | 12.51% | 12.37% | 11.95% | 10.71% | 9.86% | 9.44% | 9.49% |
March 31, 2025 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $120,825K ÷ $895,589K
= 13.49%
The pretax margin of CorVel Corp has shown fluctuating trends over the analyzed periods. It increased from 9.49% in June 2020 to 13.49% in March 2025. Notably, there were gradual improvements in the pretax margin from June 2020 to March 2022, reaching a peak of 13.08% in March 2022. However, there was a slight dip in the pretax margin in the subsequent periods, stabilizing at around 12% from June 2023 to September 2024.
Overall, the pretax margin reflects the company's ability to generate profits before accounting for taxes as a percentage of its total revenue. The increasing trend over the years indicates improved cost management, operational efficiency, and potentially favorable pricing strategies. However, the fluctuations observed in certain periods suggest the impact of various external factors or internal adjustments on the company's profitability.