CorVel Corp (CRVL)
Debt-to-capital ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 247,647 | 233,530 | 222,569 | 206,980 | 202,176 | 194,805 | 197,833 | 205,628 | 212,395 | 214,927 | 223,795 | 229,539 | 220,402 | 209,873 | 202,400 | 198,092 | 189,711 | 193,365 | 200,816 | 203,817 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 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
The debt-to-capital ratio for CorVel Corp has consistently been at a level of 0.00 for the past several quarters, indicating that the company has not had any debt in relation to its capital structure during this period. A debt-to-capital ratio of 0.00 suggests that the company has been using equity financing exclusively to fund its operations and growth, without relying on debt. This can be seen as a favorable sign of financial stability and independence, as it indicates that the company has no financial leverage and is not burdened by debt obligations. It also suggests that CorVel Corp may have a strong balance sheet and sufficient liquidity to support its business activities without resorting to borrowing. However, it is important to note that a zero debt-to-capital ratio may also limit the company's ability to take advantage of potential tax benefits associated with debt financing. Overall, the consistent 0.00 debt-to-capital ratio for CorVel Corp indicates a financing strategy focused on equity and a relatively conservative approach to capital structure management.