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CORVEL CORP（CRVL）与eHealth, Inc.（EHTH）财务数据对比。点击上方公司名可切换其他公司
eHealth, Inc.的季度营收约是CORVEL CORP的1.4倍（$326.2M vs $235.6M）。eHealth, Inc.净利率更高（26.7% vs 10.3%，领先16.5%）。eHealth, Inc.同比增速更快（3.5% vs 3.4%）。CORVEL CORP自由现金流更多（$35.2M vs $-36.1M）。过去两年eHealth, Inc.的营收复合增速更高（87.3% vs 6.6%）
Corvel Corp是一家总部位于美国的综合解决方案供应商，核心业务涵盖工伤赔偿、医疗管理与风险缓释，服务客户包括保险公司、自保雇主及公共部门机构，可帮助客户控制医疗成本、提升护理效果、优化行政运营流程。
eHealth, Inc.以eHealthInsurance品牌开展业务，是一家公开上市的健康保险在线交易平台，公司注册于特拉华州，总部位于加利福尼亚州圣克拉拉。该平台主要提供医疗保险相关计划，涵盖联邦医疗保险处方药计划、联邦医疗保险补充计划、优势计划等产品，同时也售卖个人健康保险产品，业务覆盖美国全部50个州及华盛顿特区。
CRVL vs EHTH — 直观对比
营收规模更大
EHTH
是对方的1.4倍
$235.6M
营收增速更快
EHTH
高出0.2%
3.4%
净利率更高
EHTH
高出16.5%
10.3%
自由现金流更多
CRVL
多$71.3M
$-36.1M
两年增速更快
EHTH
近两年复合增速
6.6%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $235.6M | $326.2M |
| 净利润 | $24.2M | $87.2M |
| 毛利率 | 23.3% | 55.3% |
| 营业利润率 | 13.7% | 38.7% |
| 净利率 | 10.3% | 26.7% |
| 营收同比 | 3.4% | 3.5% |
| 净利润同比 | 1.7% | -10.6% |
| 每股收益（稀释后） | $0.47 | $2.43 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收CRVLEHTH
| Q4 25 | $235.6M | $326.2M | ||
| Q3 25 | $239.6M | $53.9M | ||
| Q2 25 | $234.7M | $60.8M | ||
| Q1 25 | $231.5M | $113.1M | ||
| Q4 24 | $228.0M | $315.2M | ||
| Q3 24 | $224.4M | $58.4M | ||
| Q2 24 | $211.7M | $65.9M | ||
| Q1 24 | $207.2M | $93.0M |
净利润CRVLEHTH
| Q4 25 | $24.2M | $87.2M | ||
| Q3 25 | $27.9M | $-31.7M | ||
| Q2 25 | $27.2M | $-17.4M | ||
| Q1 25 | $26.4M | $1.9M | ||
| Q4 24 | $23.8M | $97.5M | ||
| Q3 24 | $23.4M | $-42.5M | ||
| Q2 24 | $21.6M | $-28.0M | ||
| Q1 24 | $19.5M | $-17.0M |
毛利率CRVLEHTH
| Q4 25 | 23.3% | 55.3% | ||
| Q3 25 | 24.3% | -0.3% | ||
| Q2 25 | 24.2% | 31.1% | ||
| Q1 25 | 25.0% | 36.9% | ||
| Q4 24 | 23.2% | 52.0% | ||
| Q3 24 | 22.6% | -6.5% | ||
| Q2 24 | 22.7% | 28.7% | ||
| Q1 24 | 20.9% | 31.7% |
营业利润率CRVLEHTH
| Q4 25 | 13.7% | 38.7% | ||
| Q3 25 | 15.0% | -77.1% | ||
| Q2 25 | 15.0% | -37.9% | ||
| Q1 25 | 14.4% | 4.2% | ||
| Q4 24 | 13.5% | 35.7% | ||
| Q3 24 | 12.8% | -74.0% | ||
| Q2 24 | 13.2% | -42.5% | ||
| Q1 24 | 10.9% | -19.3% |
净利率CRVLEHTH
| Q4 25 | 10.3% | 26.7% | ||
| Q3 25 | 11.6% | -58.8% | ||
| Q2 25 | 11.6% | -28.6% | ||
| Q1 25 | 11.4% | 1.7% | ||
| Q4 24 | 10.4% | 30.9% | ||
| Q3 24 | 10.4% | -72.7% | ||
| Q2 24 | 10.2% | -42.5% | ||
| Q1 24 | 9.4% | -18.3% |
每股收益（稀释后）CRVLEHTH
| Q4 25 | $0.47 | $2.43 | ||
| Q3 25 | $0.54 | $-1.46 | ||
| Q2 25 | $0.52 | $-0.98 | ||
| Q1 25 | $-1.23 | $-0.33 | ||
| Q4 24 | $0.46 | $2.93 | ||
| Q3 24 | $1.35 | $-1.83 | ||
| Q2 24 | $1.25 | $-1.33 | ||
| Q1 24 | $1.12 | $-0.96 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $230.0M | $73.7M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $375.7M | $591.6M |
| 总资产 | $644.8M | $1.3B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资CRVLEHTH
| Q4 25 | $230.0M | $73.7M | ||
| Q3 25 | $207.5M | $63.1M | ||
| Q2 25 | $202.0M | $65.9M | ||
| Q1 25 | $170.6M | $121.1M | ||
| Q4 24 | $162.9M | $39.2M | ||
| Q3 24 | $138.3M | $64.0M | ||
| Q2 24 | $131.9M | $126.3M | ||
| Q1 24 | $105.6M | $175.0M |
股东权益CRVLEHTH
| Q4 25 | $375.7M | $591.6M | ||
| Q3 25 | $362.8M | $514.2M | ||
| Q2 25 | $342.5M | $554.9M | ||
| Q1 25 | $322.0M | $581.6M | ||
| Q4 24 | $300.9M | $588.4M | ||
| Q3 24 | $282.8M | $499.3M | ||
| Q2 24 | $263.9M | $548.9M | ||
| Q1 24 | $247.6M | $582.8M |
总资产CRVLEHTH
| Q4 25 | $644.8M | $1.3B | ||
| Q3 25 | $611.7M | $1.0B | ||
| Q2 25 | $597.4M | $1.1B | ||
| Q1 25 | $546.0M | $1.1B | ||
| Q4 24 | $538.8M | $1.2B | ||
| Q3 24 | $518.6M | $1.0B | ||
| Q2 24 | $486.2M | $1.0B | ||
| Q1 24 | $454.7M | $1.1B |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $46.1M | $-35.9M |
| 自由现金流经营现金流 - 资本支出 | $35.2M | $-36.1M |
| 自由现金流率自由现金流/营收 | 14.9% | -11.1% |
| 资本支出强度资本支出/营收 | 4.7% | 0.0% |
| 现金转化率经营现金流/净利润 | 1.91× | -0.41× |
| 过去12个月自由现金流最近4个季度 | $104.3M | $-27.6M |
8季度趋势，按日历期对齐
经营现金流CRVLEHTH
| Q4 25 | $46.1M | $-35.9M | ||
| Q3 25 | $25.0M | $-25.3M | ||
| Q2 25 | $55.0M | $-41.2M | ||
| Q1 25 | $22.9M | $77.1M | ||
| Q4 24 | $41.6M | $-27.7M | ||
| Q3 24 | $22.3M | $-29.3M | ||
| Q2 24 | $40.4M | $-32.2M | ||
| Q1 24 | $15.2M | $70.8M |
自由现金流CRVLEHTH
| Q4 25 | $35.2M | $-36.1M | ||
| Q3 25 | $15.3M | $-25.5M | ||
| Q2 25 | $39.5M | $-42.8M | ||
| Q1 25 | $14.3M | $76.8M | ||
| Q4 24 | $32.1M | $-28.3M | ||
| Q3 24 | $12.4M | $-30.3M | ||
| Q2 24 | $32.8M | $-32.4M | ||
| Q1 24 | $5.2M | $70.6M |
自由现金流率CRVLEHTH
| Q4 25 | 14.9% | -11.1% | ||
| Q3 25 | 6.4% | -47.4% | ||
| Q2 25 | 16.8% | -70.4% | ||
| Q1 25 | 6.2% | 67.9% | ||
| Q4 24 | 14.1% | -9.0% | ||
| Q3 24 | 5.5% | -51.8% | ||
| Q2 24 | 15.5% | -49.3% | ||
| Q1 24 | 2.5% | 75.9% |
资本支出强度CRVLEHTH
| Q4 25 | 4.7% | 0.0% | ||
| Q3 25 | 4.1% | 0.4% | ||
| Q2 25 | 6.6% | 2.6% | ||
| Q1 25 | 3.7% | 0.3% | ||
| Q4 24 | 4.2% | 0.2% | ||
| Q3 24 | 4.4% | 1.7% | ||
| Q2 24 | 3.6% | 0.4% | ||
| Q1 24 | 4.8% | 0.2% |
现金转化率CRVLEHTH
| Q4 25 | 1.91× | -0.41× | ||
| Q3 25 | 0.90× | — | ||
| Q2 25 | 2.02× | — | ||
| Q1 25 | 0.87× | 39.55× | ||
| Q4 24 | 1.75× | -0.28× | ||
| Q3 24 | 0.95× | — | ||
| Q2 24 | 1.87× | — | ||
| Q1 24 | 0.78× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
CRVL
| Patient Management Services | $146.1M | 62% |
| Network Solutions Services | $89.6M | 38% |
EHTH
| Medicare | $282.7M | 87% |
| Other | $29.2M | 9% |
| Ancillaries | $7.9M | 2% |
| Commission Members Approved In Prior Periods | $3.8M | 1% |
| Small Business | $3.1M | 1% |
| Commission Revenue From Renewals | $2.4M | 1% |
