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Side-by-side financial comparison of CORVEL CORP (CRVL) and PagerDuty, Inc. (PD). Click either name above to swap in a different company.
CORVEL CORP is the larger business by last-quarter revenue ($235.6M vs $124.5M, roughly 1.9× PagerDuty, Inc.). PagerDuty, Inc. runs the higher net margin — 129.7% vs 10.3%, a 119.5% gap on every dollar of revenue. On growth, PagerDuty, Inc. posted the faster year-over-year revenue change (4.7% vs 3.4%). CORVEL CORP produced more free cash flow last quarter ($35.2M vs $24.1M). Over the past eight quarters, CORVEL CORP's revenue compounded faster (6.6% CAGR vs 5.9%).
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.
PagerDuty, Inc. is an American cloud computing company specializing in a SaaS incident management platform for IT operations departments.
CRVL vs PD — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $235.6M | $124.5M |
| Net Profit | $24.2M | $161.6M |
| Gross Margin | 23.3% | 85.3% |
| Operating Margin | 13.7% | 6.5% |
| Net Margin | 10.3% | 129.7% |
| Revenue YoY | 3.4% | 4.7% |
| Net Profit YoY | 1.7% | 2827.7% |
| EPS (diluted) | $0.47 | $1.69 |
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.
| Q4 25 | $235.6M | $124.5M | ||
| Q3 25 | $239.6M | $123.4M | ||
| Q2 25 | $234.7M | $119.8M | ||
| Q1 25 | $231.5M | $121.4M | ||
| Q4 24 | $228.0M | $118.9M | ||
| Q3 24 | $224.4M | $115.9M | ||
| Q2 24 | $211.7M | $111.2M | ||
| Q1 24 | $207.2M | $111.1M |
| Q4 25 | $24.2M | $161.6M | ||
| Q3 25 | $27.9M | $9.6M | ||
| Q2 25 | $27.2M | $-7.2M | ||
| Q1 25 | $26.4M | $-8.8M | ||
| Q4 24 | $23.8M | $-5.9M | ||
| Q3 24 | $23.4M | $-10.9M | ||
| Q2 24 | $21.6M | $-17.1M | ||
| Q1 24 | $19.5M | $-28.2M |
| Q4 25 | 23.3% | 85.3% | ||
| Q3 25 | 24.3% | 84.6% | ||
| Q2 25 | 24.2% | 84.0% | ||
| Q1 25 | 25.0% | 83.6% | ||
| Q4 24 | 23.2% | 83.0% | ||
| Q3 24 | 22.6% | 82.7% | ||
| Q2 24 | 22.7% | 82.6% | ||
| Q1 24 | 20.9% | 81.7% |
| Q4 25 | 13.7% | 6.5% | ||
| Q3 25 | 15.0% | 2.9% | ||
| Q2 25 | 15.0% | -8.6% | ||
| Q1 25 | 14.4% | -9.6% | ||
| Q4 24 | 13.5% | -8.7% | ||
| Q3 24 | 12.8% | -13.8% | ||
| Q2 24 | 13.2% | -19.5% | ||
| Q1 24 | 10.9% | -30.1% |
| Q4 25 | 10.3% | 129.7% | ||
| Q3 25 | 11.6% | 7.8% | ||
| Q2 25 | 11.6% | -6.0% | ||
| Q1 25 | 11.4% | -7.2% | ||
| Q4 24 | 10.4% | -5.0% | ||
| Q3 24 | 10.4% | -9.4% | ||
| Q2 24 | 10.2% | -15.4% | ||
| Q1 24 | 9.4% | -25.3% |
| Q4 25 | $0.47 | $1.69 | ||
| Q3 25 | $0.54 | $0.10 | ||
| Q2 25 | $0.52 | $-0.07 | ||
| Q1 25 | $-1.23 | $-0.12 | ||
| Q4 24 | $0.46 | $-0.07 | ||
| Q3 24 | $1.35 | $-0.14 | ||
| Q2 24 | $1.25 | $-0.26 | ||
| Q1 24 | $1.12 | $-0.34 |
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 | $547.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $375.7M | $320.5M |
| Total Assets | $644.8M | $1.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $230.0M | $547.8M | ||
| Q3 25 | $207.5M | $567.9M | ||
| Q2 25 | $202.0M | $597.1M | ||
| Q1 25 | $170.6M | $570.8M | ||
| Q4 24 | $162.9M | $542.2M | ||
| Q3 24 | $138.3M | $599.3M | ||
| Q2 24 | $131.9M | $592.8M | ||
| Q1 24 | $105.6M | $571.2M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $484.5M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $489.5M |
| Q4 25 | $375.7M | $320.5M | ||
| Q3 25 | $362.8M | $180.7M | ||
| Q2 25 | $342.5M | $145.7M | ||
| Q1 25 | $322.0M | $129.8M | ||
| Q4 24 | $300.9M | $111.6M | ||
| Q3 24 | $282.8M | $164.7M | ||
| Q2 24 | $263.9M | $174.0M | ||
| Q1 24 | $247.6M | $171.6M |
| Q4 25 | $644.8M | $1.0B | ||
| Q3 25 | $611.7M | $891.5M | ||
| Q2 25 | $597.4M | $926.8M | ||
| Q1 25 | $546.0M | $927.3M | ||
| Q4 24 | $538.8M | $866.8M | ||
| Q3 24 | $518.6M | $916.0M | ||
| Q2 24 | $486.2M | $924.0M | ||
| Q1 24 | $454.7M | $925.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 3.73× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 2.85× |
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 | $24.8M |
| Free Cash FlowOCF − Capex | $35.2M | $24.1M |
| FCF MarginFCF / Revenue | 14.9% | 19.3% |
| Capex IntensityCapex / Revenue | 4.7% | 0.6% |
| Cash ConversionOCF / Net Profit | 1.91× | 0.15× |
| TTM Free Cash FlowTrailing 4 quarters | $104.3M | $117.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $46.1M | $24.8M | ||
| Q3 25 | $25.0M | $34.0M | ||
| Q2 25 | $55.0M | $30.7M | ||
| Q1 25 | $22.9M | $31.4M | ||
| Q4 24 | $41.6M | $22.1M | ||
| Q3 24 | $22.3M | $35.8M | ||
| Q2 24 | $40.4M | $28.6M | ||
| Q1 24 | $15.2M | $22.2M |
| Q4 25 | $35.2M | $24.1M | ||
| Q3 25 | $15.3M | $33.1M | ||
| Q2 25 | $39.5M | $30.2M | ||
| Q1 25 | $14.3M | $30.3M | ||
| Q4 24 | $32.1M | $21.5M | ||
| Q3 24 | $12.4M | $35.1M | ||
| Q2 24 | $32.8M | $28.2M | ||
| Q1 24 | $5.2M | $21.2M |
| Q4 25 | 14.9% | 19.3% | ||
| Q3 25 | 6.4% | 26.8% | ||
| Q2 25 | 16.8% | 25.2% | ||
| Q1 25 | 6.2% | 24.9% | ||
| Q4 24 | 14.1% | 18.1% | ||
| Q3 24 | 5.5% | 30.3% | ||
| Q2 24 | 15.5% | 25.4% | ||
| Q1 24 | 2.5% | 19.1% |
| Q4 25 | 4.7% | 0.6% | ||
| Q3 25 | 4.1% | 0.7% | ||
| Q2 25 | 6.6% | 0.4% | ||
| Q1 25 | 3.7% | 0.9% | ||
| Q4 24 | 4.2% | 0.5% | ||
| Q3 24 | 4.4% | 0.5% | ||
| Q2 24 | 3.6% | 0.4% | ||
| Q1 24 | 4.8% | 0.9% |
| Q4 25 | 1.91× | 0.15× | ||
| Q3 25 | 0.90× | 3.55× | ||
| Q2 25 | 2.02× | — | ||
| Q1 25 | 0.87× | — | ||
| Q4 24 | 1.75× | — | ||
| Q3 24 | 0.95× | — | ||
| Q2 24 | 1.87× | — | ||
| Q1 24 | 0.78× | — |
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% |
PD
| US | $88.8M | 71% |
| Non Us | $35.7M | 29% |
