CorVel Corporation
- Open
- 70.00
- Day high
- 71.33
- Day low
- 69.50
- Prev close
- 69.74
- Volume
- 161K
- Mkt cap
- $3.6B
- P/E (TTM)
- 31.3
- EPS (TTM)
- $2.25
- P/B
- 8.7
- P/S
- 3.6
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$1.9M over the last 3 months (0 open-market buys, 8 sales)
- 🏛Institutions accumulating (13F)
CorVel Corporation (CRVL) is a Financial Services company listed on NASDAQ. The stock is down 19% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 8 sales (SEC Form 4). Drillr has 1 published research article covering CRVL.
CorVel Corporation (CRVL) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
CRVL earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 5, 2026 | — | $0.63 | — | $260M | — |
| May 20, 2026 | — | $0.61 | — | $249M | — |
| Feb 3, 2026 | — | $0.47 | — | $236M | — |
| May 22, 2025 | — | $0.51 | — | $232M | — |
| May 22, 2024 | — | $0.37 | — | $207M | — |
| May 25, 2023 | — | $0.35 | — | $185M | — |
| Jan 31, 2023 | — | $0.32 | — | $179M | — |
| Nov 1, 2022 | — | $0.28 | — | $177M | — |
| Aug 2, 2022 | — | $0.31 | — | $176M | — |
| May 26, 2022 | — | $0.36 | — | $171M | — |
| Feb 1, 2022 | — | $0.25 | — | $165M | — |
| Nov 2, 2021 | — | $0.29 | — | $158M | — |
CRVL insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 28, 2026 | JESSUP R JUDDdirector | Sell | 1,562 | $70.71 |
| Aug 28, 2026 | JESSUP R JUDDdirector | Sell | 1,262 | $70.64 |
| Aug 24, 2026 | Yoss Jenniferofficer: Vice President of Accounting | Option | 2,100 | $65.72 |
| Aug 24, 2026 | Yoss Jenniferofficer: Vice President of Accounting | Sell | 2,100 | $70.92 |
| Aug 10, 2026 | HAMERSLAG STEVEN Jdirector | Grant | 1,500 | $62.45 |
| Aug 10, 2026 | Combs Michael Gofficer: CEO & President | Grant | 1,500 | $62.45 |
| Aug 10, 2026 | Burkey Joanna M.director | Grant | 1,500 | $62.45 |
| Aug 10, 2026 | JESSUP R JUDDdirector | Grant | 1,500 | $62.45 |
| Aug 10, 2026 | HOOPS ALANdirector | Grant | 1,500 | $62.45 |
| Aug 10, 2026 | MICHAEL JEFFREY Jdirector, 10 percent owner: | Grant | 1,500 | $62.45 |
| Aug 5, 2026 | Nichols Brian S.officer: Chief Financial Officer | Tax | 1 | $59.10 |
| Aug 5, 2026 | Nichols Brian S.officer: Chief Financial Officer | Option | 51 | $52.65 |
| Aug 5, 2026 | Nichols Brian S.officer: Chief Financial Officer | Tax | 45 | $59.10 |
| Aug 3, 2026 | HOOPS ALANdirector | Option | 9,000 | $14.44 |
| Jul 30, 2026 | Bertels Mark E.officer: EVP - Risk Management Services | Option | 750 | $52.65 |
Source: CRVL SEC Form 4 filings, latest Aug 28, 2026. For informational purposes only — not investment advice.
See the full CRVL insider & 13F page →CorVel Corporation company profile
Overview
CorVel Corporation (NASDAQ:CRVL) is a technology-enabled healthcare cost management company founded in 1987 and headquartered in Fort Worth, Texas. The company went public in 1991 and has established itself as a specialized provider of workers' compensation, auto liability, and health solutions for employers, insurance companies, and government agencies. CorVel applies artificial intelligence, machine learning, and natural language processing technologies to help organizations manage medical costs and monitor healthcare quality associated with insurance claims.
Business
CorVel operates in the healthcare cost management industry, serving as an intermediary between insurance payers and healthcare providers to control medical expenses and ensure quality care. The company's core business revolves around managing the complex process of medical claims review, provider network management, and patient care coordination for workers' compensation and other liability insurance claims. The company operates through two primary business segments. Network Solutions represents the larger segment, generating approximately 67% of total revenue, and includes automated medical fee auditing, preferred provider network management, retrospective utilization review, pharmacy benefit management, and Medicare coordination services. This segment essentially acts as a technology-enabled middleman that reviews medical bills, ensures appropriate pricing, and manages relationships with healthcare providers on behalf of insurance companies. Patient Management services account for roughly 33% of revenue and encompass more hands-on case management activities including claims administration, nurse triage services available 24/7, utilization management to ensure appropriate care levels, vocational rehabilitation for injured workers, and comprehensive life care planning. This segment focuses on the human element of claims management, providing direct patient interaction and care coordination services. The workers' compensation insurance market, where CorVel primarily operates, exists because employers are legally required to provide coverage for workplace injuries. When workers are injured on the job, the resulting medical claims can be complex and expensive, creating demand for specialized companies like CorVel that can navigate the intersection of healthcare delivery, insurance regulations, and cost control.
Revenue model
CorVel generates revenue primarily through service fees charged to its clients, which include insurance companies, third-party administrators, self-insured employers, and government agencies. The company operates on a fee-for-service model where it charges for each claim processed, medical bill reviewed, or case managed. Revenue is also generated through percentage-based fees on medical cost savings achieved for clients and through technology licensing arrangements. The company's clients pay CorVel because they need specialized expertise to manage the complex intersection of healthcare delivery and insurance claims. Self-insured employers and insurance companies lack the internal capabilities to effectively review medical bills, manage provider networks, coordinate patient care, and ensure regulatory compliance across multiple jurisdictions. CorVel's technology platform and specialized workforce provide these capabilities at scale. Several factors influence CorVel's profitability margins. Positive margin drivers include increasing automation through AI and machine learning technologies, which reduces labor costs per claim processed, growing adoption of digital health solutions that streamline processes, and the company's ability to negotiate better rates with healthcare providers due to its scale. The trend toward self-insurance among large employers also expands CorVel's addressable market. Margin pressures come from healthcare cost inflation, which can outpace the company's fee increases, competition from larger healthcare services companies and new technology entrants, regulatory changes that may require additional compliance investments, and the need for continuous technology upgrades to maintain competitive advantages. Labor cost inflation for skilled healthcare professionals and technology workers also pressures margins, as does the cyclical nature of workplace injury rates that can affect claim volumes.
Competitive moat
CorVel's competitive moat is moderately strong but not insurmountable. The company benefits from several defensive characteristics including high switching costs for clients due to the complexity of transitioning claims management systems and the critical nature of the services provided. Once integrated into a client's operations, CorVel's systems become embedded in daily workflows, making replacement disruptive and expensive. The company's specialized expertise in workers' compensation regulations across multiple states creates barriers to entry, as this knowledge takes years to develop and maintain. CorVel's proprietary technology platform, enhanced with AI and machine learning capabilities, provides operational efficiencies that would be difficult for new entrants to replicate quickly. The company's established relationships with healthcare provider networks also create value that competitors cannot easily duplicate. However, CorVel faces significant competitive threats. Large healthcare services companies like UnitedHealth Group and Anthem have vastly greater resources and could potentially integrate similar services into their existing platforms. Technology companies focusing on healthcare AI and automation could disrupt CorVel's core value proposition if they develop superior solutions. The company also competes with other specialized workers' compensation service providers and faces the constant threat that large self-insured employers might bring these services in-house. The regulatory nature of the workers' compensation industry provides some stability, but it also means that regulatory changes could quickly alter the competitive landscape. CorVel's moat is best described as moderate - strong enough to protect current market position but requiring continuous investment in technology and expertise to maintain.
Risks & safety
CorVel demonstrates a strong financial position with minimal solvency risk, though current valuation metrics suggest limited margin of safety for investors. • Liquidity and Solvency: Excellent cash position with $163 million in cash and short-term investments, minimal debt (debt-to-equity ratio of 0.10), strong current ratio of 1.77, and consistent positive free cash flow generation of $32 million in the most recent quarter • Valuation Metrics: Expensive across multiple measures with P/E ratio of 60.1x, EV/EBITDA of 36.5x, and price-to-book ratio of 19.0x, all indicating significant premium valuation that leaves little room for disappointment • Operational Stability: Consistent profitability with 10.4% net margins, strong return on equity of 7.9%, and stable revenue growth, though growth rates have moderated in recent quarters • Other Considerations: High customer retention rate of 97% provides revenue stability, but the premium valuation suggests the market has already priced in significant future growth expectations
Recent development
Based on the available earnings call information from FY 2023, CorVel has been pursuing several strategic initiatives focused on digital transformation and artificial intelligence integration. The company has made substantial investments in developing proprietary document storage and processing solutions, leveraging cloud-based AI technologies to enhance automation and reduce repetitive manual tasks. Technology advancement has been a primary focus, with CorVel expanding AI-powered services particularly in specialty care reviews and document management. The company has been working to enhance its automation capabilities to improve efficiency and reduce operational costs while maintaining service quality. This technological evolution represents a significant shift from traditional manual processes toward more sophisticated, data-driven approaches. The company has also been adapting to evolving market trends, including the growing focus on mental health services within workers' compensation claims and increased attention to musculoskeletal disorder management. CorVel has expanded its telehealth and virtual care options to meet changing patient and provider preferences, particularly accelerated by the COVID-19 pandemic. Market expansion efforts have targeted the trend toward self-insured healthcare companies, as more large employers move away from traditional insurance models. This shift creates opportunities for CorVel's specialized services as these companies need third-party expertise to manage their claims processes effectively. The company has maintained its strong customer retention rate of 97%, indicating successful relationship management and service delivery during this period of strategic evolution.
CRVL company profile · for informational purposes only — not investment advice.
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