CorVel Corp (CRVL)
Financial leverage ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | US$ in thousands | 341,945 | 538,777 | 518,553 | 486,172 | 454,679 | 444,995 | 434,117 | 417,573 | 393,923 | 407,687 | 399,886 | 415,677 | 415,246 | 423,708 | 424,901 | 422,483 | 424,760 | 457,865 | 441,580 | 425,009 |
| Total stockholders’ equity | US$ in thousands | 321,987 | 300,850 | 282,772 | 263,873 | 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 |
| Financial leverage ratio | 1.06 | 1.79 | 1.83 | 1.84 | 1.84 | 1.91 | 1.95 | 2.02 | 1.95 | 2.09 | 2.02 | 2.02 | 1.96 | 1.97 | 1.90 | 1.84 | 1.93 | 2.18 | 2.18 | 2.15 |
March 31, 2025 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $341,945K ÷ $321,987K
= 1.06
The financial leverage ratio of CorVel Corp has fluctuated over the periods analyzed. The ratio stood at 2.15 as of June 30, 2020, and gradually increased to 2.18 by September 30, 2020, and remained at that level until December 31, 2020. However, a decline in the ratio was observed in the following quarters, reaching 1.93 on March 31, 2021, before slightly recovering to 1.84 by June 30, 2021.
From September 30, 2021, to December 31, 2022, the financial leverage ratio of the company ranged between 1.90 and 2.09, indicating some variability but overall steady leverage levels during this period. The ratio saw minor fluctuations in the subsequent quarters, hovering around the 1.95 to 1.84 range up to June 30, 2024.
A notable decrease in the financial leverage ratio was noted as of March 31, 2025, dropping to 1.06. This reduction indicates a significant decrease in the company's reliance on debt financing relative to its equity during this period. Overall, the analysis of CorVel Corp's financial leverage ratio suggests varying levels of leverage over time, with some periods of stability and others demonstrating more pronounced changes in the capital structure.