CorVel (CRVL) Cash Flow: Operating & Free Cash Flow

CorVel Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for CorVel Corporation (CRVL) - Annual data in millions USD
Breakdown	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017
Operating Activities
Net Income	110.34	95.17	76.25	66.37	66.41	46.36	47.38	46.70	35.70	29.48
Depreciation & Amortization	31.76	29.54	26.25	25.12	23.92	23.44	22.52	22.98	21.78	20.95
Deferred Income Tax	4.78	-5.16	-3.32	-1.91	2.30	-8.38	1.47	1.46	-0.87	-1.22
Stock Based Compensation	5.41	5.71	4.98	5.56	5.20	4.98	4.49	4.35	3.16	2.43
Change in Working Capital	2.52	-1.83	-7.05	-14.48	-30.88	25.37	3.22	0.97	-1.37	-2.66
Change in Accounts Receivable	2.70	-10.46	-17.90	0.34	-18.02	-0.98	3.96	-8.27	-4.66	-5.43
Change in Inventory	0.00	0.00	0.00	0.00	0.00	0.00	0.00	20.98	9.45	6.25
Change in Accounts Payable	-0.73	0.16	0.00	-4.40	1.42	-3.36	1.10	-1.98	-3.13	3.35
Change in Other Working Capital	-1.49	2.43	10.86	4.19	-9.05	5.65	-1.84	11.21	6.42	-6.82
Other Operating Activities	5.61	-1.27	2.12	-0.28	2.58	-5.77	1.76	2.18	3.76	3.07
Net Cash from Operating Activities	155.64	127.32	99.24	82.29	67.22	94.38	80.83	78.64	62.15	52.05
Investing Activities
Capital Expenditures	-45.36	-35.76	-29.24	-26.32	-29.82	-17.24	-32.36	-15.27	-27.69	-31.04
Other Investing Activities	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.03
Net Cash from Investing Activities	-45.36	-35.76	-29.24	-26.32	-29.82	-17.24	-32.36	-15.27	-27.69	-31.01
Financing Activities
Common Stock Issued	8.41	11.07	0.00	11.53	10.47	12.03	0.00	7.74	3.88	2.79
Common Stock Repurchased	-56.21	-37.61	-45.71	-93.68	-90.09	-32.67	-65.61	-35.17	-11.19	-28.00
Other Financing Activities	0.00	11.07	9.95	11.53	10.47	12.03	8.65	7.74	3.88	2.79
Net Cash from Financing Activities	-47.80	-26.54	-35.76	-82.14	-79.62	-20.64	-56.96	-27.42	-7.30	-25.21
Summary
Net Change in Cash	62.49	65.02	34.23	-26.18	-42.21	56.49	-8.49	35.94	27.16	-4.17
Cash at Beginning of Period	170.58	105.56	71.33	97.50	139.72	83.22	91.71	55.77	28.61	32.78
Cash at End of Period	233.07	170.58	105.56	71.33	97.50	139.72	83.22	91.71	55.77	28.61
Free Cash Flow	110.28	91.56	70.00	55.97	37.40	77.14	48.47	63.37	34.46	21.01
Supplemental Disclosures
Income Taxes Paid	-	28.10	22.87	19.99	19.41	-	-	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About CorVel Cash Flow

What is CorVel's free cash flow?

CorVel generated free cash flow of $110.28M in fiscal 2026 (fiscal year ended Mar 31, 2026), operating cash flow of $155.64M minus $45.36M of capital expenditures. That was up 20.4% from $91.56M a year earlier. Free cash flow equaled 11.5% of revenue.

How much does CorVel spend on capital expenditures?

CorVel spent $45.36M on capital expenditures in fiscal 2026, compared with $35.76M a year earlier. That equals 29.1% of operating cash flow.

Does CorVel pay dividends or buy back shares?

Yes. In fiscal 2026 CorVel returned $56.21M in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition