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Side-by-side financial comparison of CORVEL CORP (CRVL) and Bristow Group Inc. (VTOL). Click either name above to swap in a different company.
Bristow Group Inc. is the larger business by last-quarter revenue ($377.3M vs $235.6M, roughly 1.6× CORVEL CORP). CORVEL CORP runs the higher net margin — 10.3% vs 4.9%, a 5.4% gap on every dollar of revenue. On growth, Bristow Group Inc. posted the faster year-over-year revenue change (6.7% vs 3.4%). Bristow Group Inc. produced more free cash flow last quarter ($47.8M vs $35.2M). Over the past eight quarters, CORVEL CORP's revenue compounded faster (6.6% CAGR vs 5.8%).
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.
Bristow Helicopters Limited is a British civil helicopter operator originally based at Aberdeen Airport, Scotland, which is currently a part of the U.S.-based Bristow Group which in turn has its corporate headquarters in Houston, Texas, U.S. In 2020, Bristow Group was merged with Era Helicopters, a large U.S.-based commercial helicopter operator that was previously a division of Era Aviation, with the two companies then continuing to use the Bristow name.
CRVL vs VTOL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $235.6M | $377.3M |
| Net Profit | $24.2M | $18.4M |
| Gross Margin | 23.3% | — |
| Operating Margin | 13.7% | 8.5% |
| Net Margin | 10.3% | 4.9% |
| Revenue YoY | 3.4% | 6.7% |
| Net Profit YoY | 1.7% | -42.1% |
| EPS (diluted) | $0.47 | $0.61 |
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 | $377.3M | ||
| Q3 25 | $239.6M | $386.3M | ||
| Q2 25 | $234.7M | $376.4M | ||
| Q1 25 | $231.5M | $350.5M | ||
| Q4 24 | $228.0M | $353.5M | ||
| Q3 24 | $224.4M | $365.1M | ||
| Q2 24 | $211.7M | $359.7M | ||
| Q1 24 | $207.2M | $337.1M |
| Q4 25 | $24.2M | $18.4M | ||
| Q3 25 | $27.9M | $51.5M | ||
| Q2 25 | $27.2M | $31.7M | ||
| Q1 25 | $26.4M | $27.4M | ||
| Q4 24 | $23.8M | $31.8M | ||
| Q3 24 | $23.4M | $28.2M | ||
| Q2 24 | $21.6M | $28.2M | ||
| Q1 24 | $19.5M | $6.6M |
| 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 24 | 20.9% | — |
| Q4 25 | 13.7% | 8.5% | ||
| Q3 25 | 15.0% | 13.1% | ||
| Q2 25 | 15.0% | 11.3% | ||
| Q1 25 | 14.4% | 9.6% | ||
| Q4 24 | 13.5% | 9.0% | ||
| Q3 24 | 12.8% | 9.1% | ||
| Q2 24 | 13.2% | 12.4% | ||
| Q1 24 | 10.9% | 6.8% |
| Q4 25 | 10.3% | 4.9% | ||
| Q3 25 | 11.6% | 13.3% | ||
| Q2 25 | 11.6% | 8.4% | ||
| Q1 25 | 11.4% | 7.8% | ||
| Q4 24 | 10.4% | 9.0% | ||
| Q3 24 | 10.4% | 7.7% | ||
| Q2 24 | 10.2% | 7.8% | ||
| Q1 24 | 9.4% | 2.0% |
| Q4 25 | $0.47 | $0.61 | ||
| Q3 25 | $0.54 | $1.72 | ||
| Q2 25 | $0.52 | $1.07 | ||
| Q1 25 | $-1.23 | $0.92 | ||
| Q4 24 | $0.46 | $1.07 | ||
| Q3 24 | $1.35 | $0.95 | ||
| Q2 24 | $1.25 | $0.96 | ||
| Q1 24 | $1.12 | $0.23 |
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 | $286.2M |
| Total DebtLower is stronger | — | $671.5M |
| Stockholders' EquityBook value | $375.7M | $1.1B |
| Total Assets | $644.8M | $2.3B |
| Debt / EquityLower = less leverage | — | 0.63× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $230.0M | $286.2M | ||
| Q3 25 | $207.5M | $245.5M | ||
| Q2 25 | $202.0M | $251.8M | ||
| Q1 25 | $170.6M | $191.1M | ||
| Q4 24 | $162.9M | $247.5M | ||
| Q3 24 | $138.3M | $200.3M | ||
| Q2 24 | $131.9M | $178.6M | ||
| Q1 24 | $105.6M | $140.6M |
| Q4 25 | — | $671.5M | ||
| Q3 25 | — | $675.0M | ||
| Q2 25 | — | $705.2M | ||
| Q1 25 | — | $701.9M | ||
| Q4 24 | — | $689.8M | ||
| Q3 24 | — | $629.1M | ||
| Q2 24 | — | $594.2M | ||
| Q1 24 | — | $544.1M |
| Q4 25 | $375.7M | $1.1B | ||
| Q3 25 | $362.8M | $1.0B | ||
| Q2 25 | $342.5M | $984.4M | ||
| Q1 25 | $322.0M | $931.7M | ||
| Q4 24 | $300.9M | $891.7M | ||
| Q3 24 | $282.8M | $899.2M | ||
| Q2 24 | $263.9M | $849.1M | ||
| Q1 24 | $247.6M | $820.7M |
| Q4 25 | $644.8M | $2.3B | ||
| Q3 25 | $611.7M | $2.3B | ||
| Q2 25 | $597.4M | $2.3B | ||
| Q1 25 | $546.0M | $2.2B | ||
| Q4 24 | $538.8M | $2.1B | ||
| Q3 24 | $518.6M | $2.1B | ||
| Q2 24 | $486.2M | $2.0B | ||
| Q1 24 | $454.7M | $1.9B |
| Q4 25 | — | 0.63× | ||
| Q3 25 | — | 0.65× | ||
| Q2 25 | — | 0.72× | ||
| Q1 25 | — | 0.75× | ||
| Q4 24 | — | 0.77× | ||
| Q3 24 | — | 0.70× | ||
| Q2 24 | — | 0.70× | ||
| Q1 24 | — | 0.66× |
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 | $76.9M |
| Free Cash FlowOCF − Capex | $35.2M | $47.8M |
| FCF MarginFCF / Revenue | 14.9% | 12.7% |
| Capex IntensityCapex / Revenue | 4.7% | 7.7% |
| Cash ConversionOCF / Net Profit | 1.91× | 4.17× |
| TTM Free Cash FlowTrailing 4 quarters | $104.3M | $56.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $46.1M | $76.9M | ||
| Q3 25 | $25.0M | $23.1M | ||
| Q2 25 | $55.0M | $99.0M | ||
| Q1 25 | $22.9M | $-603.0K | ||
| Q4 24 | $41.6M | $51.1M | ||
| Q3 24 | $22.3M | $66.0M | ||
| Q2 24 | $40.4M | $33.7M | ||
| Q1 24 | $15.2M | $26.7M |
| Q4 25 | $35.2M | $47.8M | ||
| Q3 25 | $15.3M | $-6.2M | ||
| Q2 25 | $39.5M | $67.4M | ||
| Q1 25 | $14.3M | $-52.7M | ||
| Q4 24 | $32.1M | $-32.4M | ||
| Q3 24 | $12.4M | $9.0M | ||
| Q2 24 | $32.8M | $-16.7M | ||
| Q1 24 | $5.2M | $-37.9M |
| Q4 25 | 14.9% | 12.7% | ||
| Q3 25 | 6.4% | -1.6% | ||
| Q2 25 | 16.8% | 17.9% | ||
| Q1 25 | 6.2% | -15.0% | ||
| Q4 24 | 14.1% | -9.2% | ||
| Q3 24 | 5.5% | 2.5% | ||
| Q2 24 | 15.5% | -4.6% | ||
| Q1 24 | 2.5% | -11.2% |
| Q4 25 | 4.7% | 7.7% | ||
| Q3 25 | 4.1% | 7.6% | ||
| Q2 25 | 6.6% | 8.4% | ||
| Q1 25 | 3.7% | 14.9% | ||
| Q4 24 | 4.2% | 23.6% | ||
| Q3 24 | 4.4% | 15.6% | ||
| Q2 24 | 3.6% | 14.0% | ||
| Q1 24 | 4.8% | 19.2% |
| Q4 25 | 1.91× | 4.17× | ||
| Q3 25 | 0.90× | 0.45× | ||
| Q2 25 | 2.02× | 3.12× | ||
| Q1 25 | 0.87× | -0.02× | ||
| Q4 24 | 1.75× | 1.61× | ||
| Q3 24 | 0.95× | 2.34× | ||
| Q2 24 | 1.87× | 1.20× | ||
| Q1 24 | 0.78× | 4.04× |
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% |
VTOL
| Offshore Energy Services | $247.5M | 66% |
| Government Services | $100.1M | 27% |
| Other | $21.9M | 6% |
| Related Party | $7.8M | 2% |
