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Side-by-side financial comparison of CORVEL CORP (CRVL) and Neptune Insurance Holdings Inc. (NP). Click either name above to swap in a different company.
CORVEL CORP is the larger business by last-quarter revenue ($235.6M vs $37.8M, roughly 6.2× Neptune Insurance Holdings Inc.). CORVEL CORP runs the higher net margin — 10.3% vs 0.1%, a 10.1% gap on every dollar of revenue. On growth, Neptune Insurance Holdings Inc. posted the faster year-over-year revenue change (28.8% vs 3.4%).
Corvel Corp is a U.S.-headquartered provider of integrated workers’ compensation, healthcare management, and risk mitigation solutions. It serves insurance carriers, self-insured employers, and public sector clients, delivering services to control healthcare costs, improve care outcomes, and optimize administrative operations.
Neptune Insurance Holdings Inc. is a specialty insurance holding company that offers a broad portfolio of property and casualty insurance products, with a core focus on residential and commercial flood insurance for customers across the United States. It serves both individual consumers and small to mid-sized business clients, using advanced data analytics to support accurate policy pricing and robust risk management.
CRVL vs NP — Head-to-Head
Income Statement — Q4 2025 vs Q1 2026
| Metric | | |
|---|---|---|
| Revenue | $235.6M | $37.8M |
| Net Profit | $24.2M | $50.0K |
| Gross Margin | 23.3% | — |
| Operating Margin | 13.7% | — |
| Net Margin | 10.3% | 0.1% |
| Revenue YoY | 3.4% | 28.8% |
| Net Profit YoY | 1.7% | 0.0% |
| EPS (diluted) | $0.47 | $0.05 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $37.8M | ||
| Q4 25 | $235.6M | — | ||
| Q3 25 | $239.6M | $44.4M | ||
| Q2 25 | $234.7M | — | ||
| Q1 25 | $231.5M | — | ||
| Q4 24 | $228.0M | — | ||
| Q3 24 | $224.4M | $33.8M | ||
| Q2 24 | $211.7M | — |
| Q1 26 | — | $50.0K | ||
| Q4 25 | $24.2M | — | ||
| Q3 25 | $27.9M | $11.5M | ||
| Q2 25 | $27.2M | — | ||
| Q1 25 | $26.4M | — | ||
| Q4 24 | $23.8M | — | ||
| Q3 24 | $23.4M | $12.1M | ||
| Q2 24 | $21.6M | — |
| Q1 26 | — | — | ||
| Q4 25 | 23.3% | — | ||
| Q3 25 | 24.3% | — | ||
| Q2 25 | 24.2% | — | ||
| Q1 25 | 25.0% | — | ||
| Q4 24 | 23.2% | — | ||
| Q3 24 | 22.6% | — | ||
| Q2 24 | 22.7% | — |
| Q1 26 | — | — | ||
| Q4 25 | 13.7% | — | ||
| Q3 25 | 15.0% | 46.7% | ||
| Q2 25 | 15.0% | — | ||
| Q1 25 | 14.4% | — | ||
| Q4 24 | 13.5% | — | ||
| Q3 24 | 12.8% | 58.6% | ||
| Q2 24 | 13.2% | — |
| Q1 26 | — | 0.1% | ||
| Q4 25 | 10.3% | — | ||
| Q3 25 | 11.6% | 25.9% | ||
| Q2 25 | 11.6% | — | ||
| Q1 25 | 11.4% | — | ||
| Q4 24 | 10.4% | — | ||
| Q3 24 | 10.4% | 35.8% | ||
| Q2 24 | 10.2% | — |
| Q1 26 | — | $0.05 | ||
| Q4 25 | $0.47 | — | ||
| Q3 25 | $0.54 | $0.06 | ||
| Q2 25 | $0.52 | — | ||
| Q1 25 | $-1.23 | — | ||
| Q4 24 | $0.46 | — | ||
| Q3 24 | $1.35 | $0.06 | ||
| Q2 24 | $1.25 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $230.0M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $375.7M | — |
| Total Assets | $644.8M | — |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $230.0M | — | ||
| Q3 25 | $207.5M | $12.2M | ||
| Q2 25 | $202.0M | — | ||
| Q1 25 | $170.6M | — | ||
| Q4 24 | $162.9M | — | ||
| Q3 24 | $138.3M | — | ||
| Q2 24 | $131.9M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $247.6M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | $375.7M | — | ||
| Q3 25 | $362.8M | $-509.5M | ||
| Q2 25 | $342.5M | — | ||
| Q1 25 | $322.0M | — | ||
| Q4 24 | $300.9M | — | ||
| Q3 24 | $282.8M | $-374.3M | ||
| Q2 24 | $263.9M | — |
| Q1 26 | — | — | ||
| Q4 25 | $644.8M | — | ||
| Q3 25 | $611.7M | $89.6M | ||
| Q2 25 | $597.4M | — | ||
| Q1 25 | $546.0M | — | ||
| Q4 24 | $538.8M | — | ||
| Q3 24 | $518.6M | — | ||
| Q2 24 | $486.2M | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $46.1M | — |
| Free Cash FlowOCF − Capex | $35.2M | — |
| FCF MarginFCF / Revenue | 14.9% | — |
| Capex IntensityCapex / Revenue | 4.7% | — |
| Cash ConversionOCF / Net Profit | 1.91× | — |
| TTM Free Cash FlowTrailing 4 quarters | $104.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $46.1M | — | ||
| Q3 25 | $25.0M | — | ||
| Q2 25 | $55.0M | — | ||
| Q1 25 | $22.9M | — | ||
| Q4 24 | $41.6M | — | ||
| Q3 24 | $22.3M | — | ||
| Q2 24 | $40.4M | — |
| Q1 26 | — | — | ||
| Q4 25 | $35.2M | — | ||
| Q3 25 | $15.3M | — | ||
| Q2 25 | $39.5M | — | ||
| Q1 25 | $14.3M | — | ||
| Q4 24 | $32.1M | — | ||
| Q3 24 | $12.4M | — | ||
| Q2 24 | $32.8M | — |
| Q1 26 | — | — | ||
| Q4 25 | 14.9% | — | ||
| Q3 25 | 6.4% | — | ||
| Q2 25 | 16.8% | — | ||
| Q1 25 | 6.2% | — | ||
| Q4 24 | 14.1% | — | ||
| Q3 24 | 5.5% | — | ||
| Q2 24 | 15.5% | — |
| Q1 26 | — | — | ||
| Q4 25 | 4.7% | — | ||
| Q3 25 | 4.1% | — | ||
| Q2 25 | 6.6% | — | ||
| Q1 25 | 3.7% | — | ||
| Q4 24 | 4.2% | — | ||
| Q3 24 | 4.4% | — | ||
| Q2 24 | 3.6% | — |
| Q1 26 | — | — | ||
| Q4 25 | 1.91× | — | ||
| Q3 25 | 0.90× | — | ||
| Q2 25 | 2.02× | — | ||
| Q1 25 | 0.87× | — | ||
| Q4 24 | 1.75× | — | ||
| Q3 24 | 0.95× | — | ||
| Q2 24 | 1.87× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CRVL
| Patient Management Services | $146.1M | 62% |
| Network Solutions Services | $89.6M | 38% |
NP
Segment breakdown not available.
