Discounted Cash Flow

Corvel Corp.

CRVL · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2017 $518.7m $29.5m $21.0m 5.7% $1.52
2018 $558.4m (7.6%) $35.7m (21.1%) $34.5m (64.0%) 6.4% (12.5%) $1.90 (25.0%)
2019 $595.7m (6.7%) $46.7m (30.8%) $63.4m (83.9%) 7.8% (22.6%) $2.48 (30.5%)
2020 $592.2m (-0.6%) $47.4m (1.4%) $48.5m (-23.5%) 8.0% (2.0%) $2.59 (4.4%)
2021 $552.6m (-6.7%) $46.4m (-2.2%) $77.1m (59.2%) 8.4% (4.9%) $2.59 (0.0%)
2022 $646.2m (16.9%) $66.4m (43.3%) $37.4m (-51.5%) 10.3% (22.5%) $3.74 (44.4%)
2023 $718.6m (11.2%) $66.4m (-0.1%) $56.0m (49.6%) 9.2% (-10.1%) $3.83 (2.4%)
2024 $795.3m (10.7%) $76.3m (14.9%) $70.0m (25.1%) 9.6% (3.8%) $4.45 (16.2%)
2025 $895.6m (12.6%) $95.2m (24.8%) $91.6m (30.8%) 10.6% (10.8%) $1.85 (-58.4%)
2026 $958.5m (7.0%) $110.3m (16.0%) $110.3m (20.4%) 11.5% (8.3%) $2.15 (16.2%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model