QualityDipStocks / Finance · Specialty Insurers
CorVel CRVL
Outside our quality screen, so we don’t track its dips. It’s 2% below its 52-week high.
Outside our quality screen, trading well above our fair value estimate, 15% over its Market Value.
- Fair value est.
- $52.65−37%
- Market Value
- $72.48price +15%
- Off 52-wk high
- −2%
- Risk vs market
- Lowbeta −0.01
4 bullish · 5 bearish See why
Repriced or dip?
Near its high
The price is 2% below its 52-week high (Oct 26), but the business held up: shares outstanding unchanged, free cash flow 0.0%.
Some numbers held up (shares outstanding unchanged, free cash flow 0.0%), others slipped. The price is 2% below its 52-week high.
The price is 2% below its 52-week high, and the business changed too.
Within 10% of its 52-week high, so there is no dip to judge yet.
Data-based read, not advice.
Priced in
How much growth the market assumed at the 52-week high, the low and today (a reverse DCF).
At the high ($84.59, Oct 26) the price assumed about 19%/yr free-cash-flow growth; at the low ($46.00, Feb 9) about 9%; today about 18%. The last 3 years delivered 25%/yr (free cash flow).
Dashed line: what the last 3 years delivered, 25%/yr (free cash flow)
| High | Low | Now | |
|---|---|---|---|
| Price | $84.59Oct 26 | $46.00Feb 9 | $83.23 |
| Implied growth | +19% | +9% | +18% |
| P/E | 37.4× | 22.4× | 36.8× |
| P/FCF | 37.8× | 22.8× | 37.2× |
What this means: the higher the implied growth, the more the price already counts on. If today's number sits well below what the business has delivered, the market expects less than its track record.
How it’s computed
Reverse DCF: the same 10-year free-cash-flow model as our fair value estimate (9.5% discount rate, growth for years 1–5 fading to 3% by year 10, 3% after), solved for the growth that makes it equal the market value at each price. For the high and the low we use only the filings that were public on that day, so nothing from a later report leaks back. Market value = that close × diluted shares. P/E = market value / 12-month net income; Price / FCF = market value / 12-month free cash flow; EV / Sales = (market value + debt − cash) / 12-month revenue. Hidden when the share count moved over 20% (split, merger), free cash flow is negative, or the company reports in another currency.
Valuation
What we estimate it's worth, and how it ranks on value vs every stock we cover.
Fair value estimate
How the range is computed
Ten-year free-cash-flow DCF. Same 10-year free-cash-flow model as the base: discount rate 9.5% ±1 point and growth 10.1% ±2 points. Bear = 10.5% and 8.1%; bull = 8.5% and 12.1% (both fade to 3%). A model estimate from public filings, not a forecast of where the price will go.
Price is above even the bull case.
What the price implies To be worth today’s price, CRVL’s free cash flow would need to grow about 18% a year for five years; our estimate uses 10%.
Risk vs market
How risk vs market is measured
One year of daily returns (Oct 31 to Nov 2, 252 sessions). Beta = how much CRVL moved for each 1% move in the S&P 500 (SPY); 1.0 moves with the market. Volatility is the yearly standard deviation of daily returns. Past behavior, not a forecast.
Has moved mostly independently of the market, but its own price swings are 3.2× the S&P 500’s (it moves on its own news).
- Beta vs S&P 500
- -0.01
- Volatility
- 41% vs 13% SPY
- Correlation SPY
- 0.00
- Correlation QQQ
- −0.07
How it ranks
Where CRVL stands vs every one of the 1,996 stocks we cover that has the number. Longer bar = better.
Not in the top quarter on any of these 3 measures
- Discount to fair value estimate37% · price above our base caseLowest 22%of 1,314
- Dividends + buybacks yield1.6% · cash paid out or used to retire shares, vs market capLowest 37%of 1,836
- Revenue growth, last 12 months+7.1% · vs the 12 months beforeLowest 39%of 1,814
From SEC filings and our fair value estimate model. A ranking, not advice.
Valuation details
DCF $52.65 · MV $72.48 · FCF value $44.59
Assumes 10.1% growth for 5 years (revenue grew 10.1% a year FY23–FY26), fading to 3%; 9.5% discount rate, 3% terminal growth. FCF base $2.23 a share (trailing 12 months to Jun 30, 2026), from the 10-Q filed Aug 6, 2026.
Fundamentals
The business itself: sales, profits, cash and debt, from SEC filings.
Bull vs bear
Rule-based from the data on this page, strongest first. Not advice.
Top bullish points 4 of 5
ProfitabilityReturn on equity of 31% over the last 12 months.
GrowthDiluted EPS grew 17% to $2.14 in FY2026.
GrowthSales compounded 10% a year from FY2023 to FY2026.
Cash returnsFree cash flow grew 16% over the last 12 months vs the 12 months before.
Top bearish points 5 of 5
ValuationOur DCF fair value estimate is $52.65, 37% below the price.
ValuationP/E of 36.8× vs a 13.6× median for the 291 Finance companies we cover.
ProfitabilityGross margin of 25%, below the 62% median for the 21 Finance companies we cover.
ValuationPrice / book of 10.4×, above the 1.7× median for the 296 Finance companies we cover.
ValuationTrades 14.8% above its Market Value of $72.48, the average price paid since the Aug 5 filing.
All fundamentals
P/E 36.8 · FCF yield 2.7% · ROE 31%
Valuation
- P/E
- 36.8×Finance median 13.6×
- Price / FCF
- 37.2×
- FCF yield
- 2.7%
- EV / EBITDA
- n/aD&A or debt not tagged in SEC data
- Price / sales
- 4.31×
- Price / book
- 10.37×
- Market cap
- $4.2Bprice × diluted shares
- Enterprise value
- n/anot reported in its SEC filings
Growth
- Revenue, 12 months
- $984M
- Sales growth, 12 months
- +7.1%vs the 12 months before
- Sales growth, 3 yrs
- +10.1%/yrfrom FY2023
- Diluted EPS, 12 months
- $2.25
- EPS growth, last FY
- +16.9%
- Net income, 12 months
- $115M
- Net income growth
- +14%12 months vs before
Profitability
- Gross margin
- 24.8%
- Operating margin
- n/anot reported in its SEC filings
- Net margin
- 11.7%
- FCF margin
- 11.6%
- Return on equity
- 31%
- Return on invested capital
- n/aoperating income, debt, equity or cash not tagged
Balance sheet
- Cash & short-term inv.
- $256M
- Total debt
- n/anot reported in its SEC filings
- Net cash
- n/acash or debt not tagged in SEC data
- Debt / equity
- n/adebt or equity not tagged in SEC data
- Interest coverage
- n/ainterest expense not tagged in SEC data
Cash flow & returns
- Free cash flow, 12 months
- $114M
- FCF growth, 12 months
- +16%
- Dividend yield
- 0%
- Payout ratio
- n/anot reported in its SEC filings
- Buybacks, 12 months
- $69M1.6% of market cap
- Share count, 1 year
- −1.9%diluted shares vs a year ago
- Stock-based comp
- $5M
Trailing 12 months to Jun 30, 2026; balance sheet at Jun 30, 2026. From CorVel’s SEC filings. Sparklines show up to six fiscal years. n/a means we don’t hold that number, with the reason. How each is computed.
The business
FCF $0.1B · Sales +11%
- Free cash flow, 12 months$0.1B
- Free-cash-flow yield2.7%
- Free-cash-flow margin9%
- Gross margin25%
- Operating margin17%
- Return on invested capital72%
- Return on equity31%
- Sales growth (latest quarter vs year-ago quarter)+11%
- Net debt / EBITDA−1.2×
Chart & levels
Where the price is vs its key levels and trends.
Key levels
Every level vs today’s $83.23
- 52-wk lowlowest close, 1 year$46.00−44.7%
- Fair value est.base case$52.65−36.7%
- Market Valueavg paid since Aug 5$72.48−12.9%
- PriceMon Nov 2 close$83.23you are here
- 52-wk highhighest close, 1 year$84.59+1.6%
Momentum & 52-week range
RSI 69 · 5 days −1.6%
Signals
Reversal signal setups, the public ledger and the next earnings date.
Setup & signals
No setup armed
No setup armed, so there’s no trigger or stop to track yet. Reversal signal rules only run on companies that pass our quality screen.
CRVL is outside our quality screen
One text when a published rule fires on one of the 332 quality companies we track: the ticker, the price, the stop and a link to the numbers. Nothing else.
Voices & buzz
Who is talking about it, and how it compares with peers.
Who’s talking about it
Notable investors, executives, analysts and public figures on CorVel in the last 48 hours. Headlines as published, each linked. Their words, not ours.
No notable mentions in the last 48 hours. Checked Nov 3, 1:01 PM ET.
Compare with peers
Closest in size in Specialty Insurers
Information only, not investment advice. Fair value estimates and talking points are rule-based model output from public data and can be wrong; stop levels are reference points, not orders. How every number is computed.