CorVel Corp (CRVL)
Solvency ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt-to-assets 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 |
| 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 |
| Debt-to-equity 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 |
| Financial leverage ratio | 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 | 2.19 | 2.18 | 2.13 | 2.10 |
The solvency ratios of CorVel Corp, as evidenced by the debt-to-assets ratio, debt-to-capital ratio, and debt-to-equity ratio, have consistently remained at 0.00 over the provided periods. This indicates that the company has not utilized debt as a source of financing in relation to its assets or capital structure.
However, the financial leverage ratio has displayed fluctuations over time, with values ranging from 1.84 to 2.19. This ratio peaked at 2.19 in the March 31, 2020 period, signaling a higher level of financial leverage employed by the company at that time. Subsequently, the ratio showed a decreasing trend, reaching a low of 1.84 on March 31, 2021, before fluctuating within the range of 1.84 to 2.18 in subsequent periods.
Overall, despite the variations in the financial leverage ratio, the absence of debt-based solvency ratios suggests that CorVel Corp has maintained a conservative approach to its financial structure, relying more on equity and retained earnings for funding its operations.
Coverage ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | 1,106.83 | 1,094.07 | 1,067.88 | 987.48 | 920.05 | 939.50 | 881.88 | 878.75 | 863.37 | 777.06 | 725.31 | 669.16 | 759.67 | 1,051.92 | 2,037.35 | — | — | — | — | — |
CorVel Corp's interest coverage has shown a generally positive trend over the past few quarters, indicating the company's ability to meet its interest obligations comfortably. The interest coverage ratio has been consistently above 1, indicating that the company's earnings are sufficient to cover its interest expenses. There was a notable increase in interest coverage from the first quarter of 2021 to the third quarter of 2021, followed by a slight fluctuation in subsequent quarters but remaining at healthy levels overall. The company's interest coverage ratio peaked at 2,037.35 in the third quarter of 2020, reflecting a strong ability to cover interest costs with operating income. Overall, CorVel Corp's interest coverage ratio suggests a financially stable position with adequate earnings to fulfill its interest payment obligations. Further analysis integrating other financial metrics would provide a more comprehensive assessment of the company's overall financial health.