CRVL FY 2020 Earnings Report — CorVel Corporation Revenue & Financial Results | Market Cap Arena

CorVel CorporationCRVL

FY 2020 Earnings

Reported June 10, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$592M	—	$596M	—	-0.6%
Op. Income	$61M	—	$62M	—	-1.3%
Gross Margin	21.3%	—	21.0%	—	0.3pp
Net Margin	8.0%	—	7.8%	—	0.2pp
EPS (Diluted)	$2.56	—	$2.46	—	4.1%
Free Cash Flow	$48M	—	$63M	—	-23.5%

Revenue Flow

Item	Amount
REVENUE	$592M
Cost of Revenue	$466M
GROSS PROFIT	$126M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$65M
SG&A Expenses	$65M
Other Expenses	$0
Operating Expenses	$65M
Cost & Expenses	$532M
OPERATING INCOME	$61M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$0
INCOME BEFORE TAX	$61M
Income Tax Expense	$13M
Net Income from Continuing Ops	$47M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$47M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$47M
D&A	$23M
EBIT	$61M
EBITDA	$83M
EPS	$1
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$592M
Cost of Revenue	$466M
GROSS PROFIT	$126M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$65M
SG&A Expenses	$65M
Other Expenses	$0
Operating Expenses	$65M
Cost & Expenses	$532M
OPERATING INCOME	$61M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$0
INCOME BEFORE TAX	$61M
Income Tax Expense	$13M
Net Income from Continuing Ops	$47M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$47M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$47M
D&A	$23M
EBIT	$61M
EBITDA	$83M
EPS	$1
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$47M
Depreciation & Amortization	$23M
Stock-Based Compensation	$4M
Deferred Income Tax	$1M
Other Non-Cash Items	$2M
Change in Working Capital	$3M
OPERATING CASH FLOW	$81M
Capital Expenditure	-$32M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	-$32M
Net Debt Issuance	$0
Common Stock Repurchased	-$66M
Common Dividends Paid	$0
Other Financing Activities	$9M
NET CASH FROM FINANCING	-$57M
FREE CASH FLOW	$48M
Net Change in Cash	-$8M

Balance Sheet

Item	Amount
Cash & Equivalents	$83M
Short-Term Investments	$0
Net Receivables	$66M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$209M
PP&E (Net)	$167M
Goodwill	$37M
Intangible Assets	$3M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$1M
TOTAL NON-CURRENT ASSETS	$207M
TOTAL ASSETS	$416M
Account Payables	$15M
Short-Term Debt	$0
Deferred Revenue	$67M
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$134M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$8M
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$93M
TOTAL LIABILITIES	$227M
Common Stock	$3.0K
Additional Paid-In Capital	$169M
Retained Earnings	$553M
Treasury Stock	-$532M
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$190M
Minority Interest	$0
TOTAL EQUITY	$190M
TOTAL LIABILITIES & EQUITY	$416M
Total Debt	$98M
Net Debt	$15M