CorVel Corp (CRVL)
Debt-to-assets ratio
| Mar 31, 2024 | Mar 31, 2023 | Mar 31, 2022 | Mar 31, 2021 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | — | — |
| Total assets | US$ in thousands | 454,679 | 393,923 | 415,246 | 424,760 | 416,260 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
March 31, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $454,679K
= 0.00
The debt-to-assets ratio for CorVel Corp has remained consistently at 0.00 for the past five years, indicating that the company has not utilized any debt to finance its assets during this period. This suggests that CorVel Corp relies solely on equity financing to support its operations and investments, which can be viewed positively as it indicates a lower level of financial risk and potential for financial distress associated with debt repayment obligations. Additionally, a debt-to-assets ratio of 0.00 signifies a strong financial position and liquidity, as the company's assets are entirely financed by equity, providing a cushion against economic downturns or financial challenges. Overall, the stable and low debt-to-assets ratio reflects prudent financial management and a conservative approach to capital structure by CorVel Corp.