CorVel Corp (CRVL)
Interest coverage
| 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 interest and tax (EBIT) (ttm) | US$ in thousands | 87,505 | 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 | 54,648 | 53,877 | 46,401 |
| Interest expense (ttm) | US$ in thousands | 0 | 0 | 0 | 0 | 0 | 18,864 | 25,083 | 31,409 | 37,728 | 24,879 | 18,660 | 12,334 | 6,015 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest coverage | — | — | — | — | — | 5.04 | 3.79 | 2.83 | 2.24 | 3.55 | 4.48 | 6.90 | 14.05 | — | — | — | — | — | — | — |
March 31, 2025 calculation
Interest coverage = EBIT (ttm) ÷ Interest expense (ttm)
= $87,505K ÷ $0K
= —
The interest coverage ratio of CorVel Corp provides insight into the company's ability to meet its interest obligations with its operating income. Looking at the data provided, the interest coverage ratio was not available for the periods up to March 31, 2023.
Starting from March 31, 2023, we see that the interest coverage ratio was 2.24, indicating that the company's operating income was able to cover its interest expenses 2.24 times over. As of June 30, 2023, the ratio slightly improved to 2.83.
Moving forward to December 31, 2023, the interest coverage ratio increased further to 5.04, reflecting a more comfortable position in servicing the interest expense with operating income.
However, the data for the subsequent periods up to March 31, 2025, shows that the interest coverage ratio was not available, limiting our ability to assess the company's recent performance in this aspect.
Overall, the trend in the interest coverage ratio from 2023 to December 31, 2023, shows an improvement in the company's ability to cover its interest payments with operating income, which is a positive indicator of its financial health in managing its debt obligations.