CorVel

OverviewSuggest Edit

CorVel is a provider of healthcare management services and solutions for workers' compensation, auto and liability, group health and disability insurance markets. Its services include claims management, bill review, preferred provider networks, utilization management, case management, pharmacy services, directed care, and Medicare services.The company caters to employers, insurance companies, third party administrators, as well as state and municipal governments.

TypePublic
Founded1987
HQIrvine, CA, USMap
Websitecorvel.com
Employee Ratings3.1More
Overall CultureD+More
View Jobs (628)

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Latest Updates

Employees (est.) (Mar 2021)3,681(-3%)
Job Openings628
Revenue (FY, 2021)$552.6 M(-6%)
Share Price (Dec 2021)$208
Cybersecurity ratingAMore
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Key People/Management at CorVel

Michael Combs

Michael Combs

CEO & President
Maxim Shishin

Maxim Shishin

Chief Information Officer
Brandon O'Brien

Brandon O'Brien

Chief Financial Officer
Diane J. Blaha

Diane J. Blaha

Chief Marketing Officer
Sharon O'Connor

Sharon O'Connor

Vice President, Legal and Human
Gordon Clemons

Gordon Clemons

Chairman
Show more

CorVel Office Locations

CorVel has offices in Irvine, Novi, Portland, Acton and in 51 other locations
Irvine, CA, US (HQ)
1920 Main St # 900
Novi, MI, US
46080 Grand River Ave
Portland, OR, US
111 SW 5th Ave #200
Show all (57)

CorVel Financials and Metrics

CorVel Revenue

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View revenue for all periods
CorVel's revenue was reported to be $552.64 m in FY, 2021
USD

Revenue (FY, 2021)

552.6m

Gross profit (FY, 2021)

123.6m

Gross profit margin (FY, 2021), %

22.4%

Net income (FY, 2021)

46.4m

Market capitalization (31-Dec-2021)

3.7b

Closing stock price (31-Dec-2021)

208.0

Cash (31-Mar-2021)

139.7m

EV

3.6b
CorVel's current market capitalization is $3.7 b.
Annual
USDFY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018FY, 2019FY, 2020FY, 2021

Revenue

412.7m429.3m478.8m492.6m503.6m518.7m558.4m595.7m592.2m552.6m

Revenue growth, %

3%2%3%

Cost of goods sold

318.8m337.7m370.3m392.7m399.0m413.9m451.1m470.9m466.3m429.0m

Gross profit

93.8m91.7m108.5m100.0m104.5m104.8m107.3m124.8m125.9m123.6m
Quarterly
USDQ1, 2012Q2, 2012Q3, 2012Q2, 2013Q3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021Q3, 2021

Revenue

102.3m104.6m101.4m105.5m107.3m118.1m119.4m121.1m124.4m123.7m122.4m126.9m124.5m123.9m128.5m128.2m128.4m137.6m136.4m140.7m150.4m148.2m146.1m150.1m147.0m148.1m129.6m136.0m141.5m

Cost of goods sold

76.8m78.9m80.2m82.6m85.6m91.2m92.0m93.4m96.7m98.2m98.2m100.8m97.8m98.7m102.9m102.3m102.8m108.8m110.7m115.2m119.0m116.7m116.7m117.0m114.1m118.8m103.1m105.5m110.6m

Gross profit

25.5m25.6m21.2m22.8m21.7m26.9m27.3m27.7m27.7m25.5m24.1m26.2m26.7m25.2m25.6m25.9m25.6m28.8m25.8m25.6m31.4m31.5m29.4m33.1m32.8m29.3m26.5m30.5m30.9m

Gross profit Margin, %

25%24%21%22%20%23%23%23%22%21%20%21%21%20%20%20%20%21%19%18%21%21%20%22%22%20%20%22%22%
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Annual
USDFY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018FY, 2019FY, 2020FY, 2021

Cash

6.6m19.8m34.9m25.5m32.8m28.6m55.8m91.7m139.7m

Accounts Receivable

49.3m49.1m57.2m57.5m59.7m62.8m64.9m71.3m64.7m

Prepaid Expenses

12.3m7.4m5.9m11.7m4.9m7.1m7.2m8.0m

Current Assets

81.2m92.9m121.0m119.2m123.1m128.9m163.3m215.5m268.9m
Quarterly
USDQ1, 2012Q2, 2012Q3, 2012Q2, 2013Q3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021Q3, 2021

Cash

17.6m8.1m10.1m20.0m20.8m25.0m22.2m32.7m34.1m28.2m31.0m27.1m24.9m26.5m36.2m40.9m38.8m35.0m38.1m53.6m73.3m90.1m96.5m104.4m97.9m89.6m94.1m106.1m128.8m

Accounts Receivable

48.8m50.8m46.1m48.7m43.4m50.8m54.4m55.4m57.2m60.3m56.2m56.9m59.2m55.9m60.7m60.4m59.2m62.8m66.0m63.5m66.1m65.1m62.4m66.8m71.4m66.2m67.5m73.1m63.6m

Prepaid Expenses

6.7m6.6m6.8m7.8m7.8m4.5m4.5m5.1m4.9m6.9m5.6m6.7m6.5m6.7m6.5m6.2m6.9m4.9m5.1m7.6m8.0m7.6m8.5m6.7m7.6m8.8m10.2m10.6m12.5m

Current Assets

86.9m80.2m77.6m91.3m87.6m98.3m100.4m111.1m116.4m119.1m115.3m116.9m122.9m120.8m128.0m138.7m135.6m134.4m148.3m166.6m183.2m204.1m210.0m221.6m219.1m210.6m224.4m242.3m259.2m
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Annual
USDFY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018FY, 2019FY, 2020FY, 2021

Net Income

26.6m26.7m34.4m28.6m28.5m29.5m35.7m46.7m47.4m46.4m

Depreciation and Amortization

14.7m15.7m16.4m18.0m20.0m20.9m21.8m23.0m22.5m23.4m

Cash From Operating Activities

35.7m54.8m54.8m44.3m51.3m52.1m62.2m78.6m80.8m94.4m

Purchases of PP&E

(23.2m)(14.9m)(18.3m)(22.9m)(16.8m)(31.0m)(27.7m)(15.3m)(32.4m)(17.2m)
Quarterly
USDQ1, 2012Q2, 2012Q3, 2012Q2, 2013Q3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021Q3, 2021

Net Income

8.2m16.1m21.5m13.2m19.2m8.6m17.3m26.1m8.3m16.2m23.0m6.9m15.2m21.9m7.5m14.4m21.5m8.8m17.2m26.7m11.8m24.6m34.9m13.4m26.3m35.6m8.3m20.2m31.5m

Depreciation and Amortization

3.4m7.0m10.6m7.9m11.9m4.0m8.1m12.2m4.1m8.7m13.3m4.9m9.9m14.9m5.1m10.4m15.6m5.3m10.8m16.0m5.6m11.3m17.1m9.0m17.8m16.8m5.8m11.6m17.6m

Cash From Operating Activities

15.2m15.9m28.0m23.9m43.6m16.8m28.5m45.6m9.7m15.6m33.1m15.1m24.6m36.8m8.1m20.5m35.6m21.4m30.6m49.9m22.8m48.6m67.9m26.4m46.4m66.3m15.4m39.5m73.8m

Purchases of PP&E

(7.0m)(11.7m)(16.7m)(6.3m)(9.2m)(5.5m)(9.0m)(12.7m)(4.6m)(9.9m)(14.8m)(4.7m)(8.0m)(11.9m)(5.3m)(10.8m)(17.2m)(5.3m)(11.4m)(16.3m)(3.0m)(6.5m)(10.3m)(8.0m)(17.5m)(27.7m)(3.6m)(6.9m)(13.3m)
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USDQ1, 2012

Financial Leverage

1.6 x
Show all financial metrics

CorVel Revenue Breakdown

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CorVel revenue breakdown by business segment: 55.1% from Patient management services and 44.9% from Network solutions services

CorVel Cybersecurity Score

Cybersecurity ratingPremium dataset

A

96/100

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CorVel Environment, Social & Governance (ESG) Ratings

CSRHub ESG ratingPremium dataset

40-49

out of 100

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CorVel Online and Social Media Presence

CorVel's Trends

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CorVel Company Culture

  • Overall Culture

    D+

    61/100

  • CEO Rating

    C

    65/100

  • Compensation

    D

    51/100

  • Diversity

    C-

    60/100

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CorVel News and Updates

December 07, 2021

CorVel Launches New Workers’ Compensation and Liability Solution, Leveraging Artificial Intelligence and Predictive Analytics

CogencyIQ helps risk managers and claims professionals navigate increasingly complex claims and massive amounts of data to improve outcomes for injured workers CogencyIQ helps risk managers and claims professionals navigate increasingly complex claims and massive amounts of data to improve outcomes …
October 13, 2021

CorVel to Present at the National Workers Compensation and Disability Conference, Focusing on the Future of Telehealth and a Proactive Approach to Patient Care

President and CEO Michael Combs to Participate in Keynote Panel President and CEO Michael Combs to Participate in Keynote Panel
October 05, 2021

Risk & Insurance Names Three CorVel Partners as 2021 All-Star Risk Managers

Partnership enhances risk management strategies and improves outcomes for Staples, Oklahoma City, and Hoag Memorial Hospital
June 22, 2021

CorVel to Ring Nasdaq Opening Bell June 28 in Celebration of its 30th Anniversary as a Public Company

IRVINE, Calif., June 22, 2021 (GLOBE NEWSWIRE) -- CorVel Corporation (Nasdaq: CRVL), a national provider of risk management solutions, announced today that company representatives will ring the Nasdaq Stock Market opening bell in New York City on Monday, June 28, 2021.
May 05, 2021

Maryland Board of Nursing Approves CorVel as Provider of Workers’ Compensation Case Management Certification for Specialty Nurses

IRVINE, Calif., May 05, 2021 (GLOBE NEWSWIRE) -- CorVel Corporation (NASDAQ: CRVL), a national provider of risk management solutions, has been approved by the Maryland Board of Nursing as the only certified Workers’ Compensation Case Manager (WCCM-RN) training program in the state. The state of Ma…
April 29, 2021

CorVel Names Joseph Rupp as Area Vice President

Industry veteran brings extensive management and operational experience to workers’ compensation industry leader Industry veteran brings extensive management and operational experience to workers’ compensation industry leader
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 CorVel Frequently Asked Questions

  • When was CorVel founded?

    CorVel was founded in 1987.

  • Who are CorVel key executives?

    CorVel's key executives are Michael Combs, Maxim Shishin and Brandon O'Brien.

  • How many employees does CorVel have?

    CorVel has 3,681 employees.

  • What is CorVel revenue?

    Latest CorVel annual revenue is $552.6 m.

  • What is CorVel revenue per employee?

    Latest CorVel revenue per employee is $150.1 k.

  • Who are CorVel competitors?

    Competitors of CorVel include One Call Care Management, GENEX Services and Sedgwick.

  • Where is CorVel headquarters?

    CorVel headquarters is located at 1920 Main St # 900, Irvine.

  • Where are CorVel offices?

    CorVel has offices in Irvine, Novi, Portland, Acton and in 51 other locations.

  • How many offices does CorVel have?

    CorVel has 57 offices.