CorVel Corp (CRVL)
Debt-to-capital ratio
| Mar 31, 2024 | Mar 31, 2023 | Mar 31, 2022 | Mar 31, 2021 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 247,647 | 202,176 | 212,395 | 220,402 | 189,711 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
March 31, 2024 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $247,647K)
= 0.00
CorVel Corp has maintained a debt-to-capital ratio of 0.00 consistently over the past five years, indicating that the company has not utilized debt to finance its operations or growth activities. A debt-to-capital ratio of 0.00 implies that the company's capital structure is predominantly equity-funded, which may indicate a lower financial risk and strong financial position. This consistent low debt-to-capital ratio suggests that CorVel Corp has relied on internal funds or equity financing to support its operations and investments, rather than taking on debt obligations.