A

CorVel Corp. — Earnings Quality Grade A

CRVL · Financial Services

Strong financial health

Revenue
$896M
2025
Net Income
$95M
2025
Gross Margin
23.4%
Free Cash Flow
$92M
01

Screening Summary

17
Passed
0
Watch
0
Failed
-2.77
M-Score

管理层信号

最近 SEC 8-K 文件中未发现 CEO、CFO、董事会或审计负责人变动信号。
02

Financial Trends

Revenue & Net Income ($B)

Margins (%)

03

18-Point Screening

01

Revenue Quality

A1DSO Change

DSO 23 days, change -2 days YoY

A2AR vs Revenue Growth

AR growth 5.4% vs revenue growth 12.6%

A3Revenue vs CFFO

Revenue 12.6%, CFFO 28.3%. Cash follows revenue

02

Expense Quality

B1Inventory vs COGS

No material inventory

B2CapEx vs Revenue

CapEx growth 22.3% vs revenue 12.6%. Normal

B3SG&A Ratio

SG&A/Gross Profit = 42.4%. Normal

B4Gross Margin

Gross margin 23.4%, change +1.8pp. Stable

03

Cash Flow Quality

C1CFFO vs Net Income

CFFO/NI = 1.34. Profits backed by cash

C2Free Cash Flow

FCF $0.1B, FCF/NI = 0.96

C3Accruals Ratio

Accruals ratio = -5.9%. Low accruals

C4Cash vs Debt

Cash $0.2B covers debt $0.0B

04

Balance Sheet Health

D1Goodwill + Intangibles

Goodwill+Intangibles $0.0B = 12% of equity. Manageable

D2Leverage

Debt/EBITDA = 0.2x. Healthy

D3Soft Asset Growth

Other assets -65.6% vs revenue 12.6%. Normal

D4Asset Impairment

No write-off data

05

Acquisition Risk

E1Serial Acquirer FCF

FCF after acquisitions positive

E2Goodwill Surge

Goodwill+Intangibles change -1% YoY. Normal

06

Manipulation Score

F1Beneish M-Score

M-Score = -2.77 (< -2.22). Unlikely manipulator

04

Beneish M-Score

Manipulation Probability-2.77
-4.0 Clean-2.22 Grey-1.78 Danger0
0.936
DSRI
AR growing faster than revenue?
0.922
GMI
Gross margin declining?
0.909
AQI
Asset quality deteriorating?
1.126
SGI
Revenue growth rate
0.929
DEPI
Depreciation slowing?
1.031
SGAI
SG&A ratio changing?
-0.0589
TATA
Accruals level
0.921
LVGI
Leverage increasing?

Altman Z-Score — Not Applicable

CorVel Corp. is a financial company. Z-Score is designed for non-financial companies.

Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25