CORVEL CORPORATION
Income Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $958.5M | $895.6M | $795.3M | $718.6M | $646.2M | $552.6M | $592.2M | $595.7M |
| Cost of Revenue | $725.7M | $685.9M | $623.6M | $560.3M | $494.1M | $429.0M | $466.3M | $470.9M |
| Gross Profit | $232.9M | $209.7M | $171.7M | $158.3M | $152.1M | $123.6M | $125.9M | $124.8M |
| Gross Margin | 24.3% | 23.4% | 21.6% | 22.0% | 23.5% | 22.4% | 21.3% | 21.0% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $89.7M | $88.9M | $76.6M | $73.7M | $67.6M | $64.4M | $65.2M | $63.3M |
| Operating Income | $143.1M | $120.8M | $95.1M | $84.6M | $84.5M | $59.2M | $60.7M | $61.5M |
| Operating Margin | 14.9% | 13.5% | 12.0% | 11.8% | 13.1% | 10.7% | 10.3% | 10.3% |
| Interest Expense | — | — | — | — | — | — | — | — |
| Pretax Income | $143.1M | $120.8M | $95.1M | $84.6M | $84.5M | $59.2M | $60.7M | $61.5M |
| Income Tax Expense | $32.8M | $25.7M | $18.8M | $18.2M | $18.1M | $12.8M | $13.3M | $14.8M |
| Net Income | $110.3M | $95.2M | $76.3M | $66.4M | $66.4M | $46.4M | $47.4M | $46.7M |
| Net Margin | 11.5% | 10.6% | 9.6% | 9.2% | 10.3% | 8.4% | 8.0% | 7.8% |
| EPS (Basic) | $2.15 | $1.85 | $1.48 | $1.28 | $1.25 | $0.86 | $0.86 | $0.83 |
| EPS (Diluted) | $2.14 | $1.83 | $1.47 | $1.26 | $1.22 | $0.85 | $0.85 | $0.82 |
| Shares Outstanding (Basic) | 51.3M | 51.4M | 51.4M | 52.0M | 53.3M | 53.8M | 55.0M | 56.4M |
| Shares Outstanding (Diluted) | 51.6M | 52.0M | 52.0M | 52.8M | 54.4M | 54.5M | 55.8M | 57.0M |
| Dividends Per Share | — | — | — | — | — | — | — | — |