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CORVEL CORP（CRVL）与威达信集团（MRSH）财务数据对比。点击上方公司名可切换其他公司
威达信集团的季度营收约是CORVEL CORP的28.0倍（$6.6B vs $235.6M）。威达信集团净利率更高（12.4% vs 10.3%，领先2.2%）。威达信集团同比增速更快（8.7% vs 3.4%）。威达信集团自由现金流更多（$2.1B vs $35.2M）。过去两年CORVEL CORP的营收复合增速更高（6.6% vs 0.9%）
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。
威达信集团是总部位于纽约的全球专业服务企业，核心业务涵盖保险经纪、风险管理、再保险服务、人才管理、投资咨询及管理咨询，旗下拥有达信（Marsh）等四大运营子公司，可提供风险建模、定制风险融资方案等多元专业服务。
CRVL vs MRSH — 直观对比
营收规模更大
MRSH
是对方的28.0倍
$235.6M
营收增速更快
MRSH
高出5.3%
3.4%
净利率更高
MRSH
高出2.2%
10.3%
自由现金流更多
MRSH
多$2.0B
$35.2M
两年增速更快
CRVL
近两年复合增速
0.9%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $235.6M | $6.6B |
| 净利润 | $24.2M | $821.0M |
| 毛利率 | 23.3% | — |
| 营业利润率 | 13.7% | 18.5% |
| 净利率 | 10.3% | 12.4% |
| 营收同比 | 3.4% | 8.7% |
| 净利润同比 | 1.7% | 4.2% |
| 每股收益（稀释后） | $0.47 | $1.68 |
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CRVLMRSH
| Q4 25 | $235.6M | $6.6B | ||
| Q3 25 | $239.6M | $6.4B | ||
| Q2 25 | $234.7M | $7.0B | ||
| Q1 25 | $231.5M | $7.1B | ||
| Q4 24 | $228.0M | $6.1B | ||
| Q3 24 | $224.4M | $5.7B | ||
| Q2 24 | $211.7M | $6.2B | ||
| Q1 24 | $207.2M | $6.5B |
净利润CRVLMRSH
| Q4 25 | $24.2M | $821.0M | ||
| Q3 25 | $27.9M | $747.0M | ||
| Q2 25 | $27.2M | $1.2B | ||
| Q1 25 | $26.4M | $1.4B | ||
| Q4 24 | $23.8M | $788.0M | ||
| Q3 24 | $23.4M | $747.0M | ||
| Q2 24 | $21.6M | $1.1B | ||
| Q1 24 | $19.5M | $1.4B |
毛利率CRVLMRSH
| 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% | — |
营业利润率CRVLMRSH
| Q4 25 | 13.7% | 18.5% | ||
| Q3 25 | 15.0% | 18.4% | ||
| Q2 25 | 15.0% | 26.2% | ||
| Q1 25 | 14.4% | 28.4% | ||
| Q4 24 | 13.5% | 18.8% | ||
| Q3 24 | 12.8% | 19.4% | ||
| Q2 24 | 13.2% | 26.4% | ||
| Q1 24 | 10.9% | 29.7% |
净利率CRVLMRSH
| Q4 25 | 10.3% | 12.4% | ||
| Q3 25 | 11.6% | 11.8% | ||
| Q2 25 | 11.6% | 17.4% | ||
| Q1 25 | 11.4% | 19.6% | ||
| Q4 24 | 10.4% | 13.0% | ||
| Q3 24 | 10.4% | 13.1% | ||
| Q2 24 | 10.2% | 18.1% | ||
| Q1 24 | 9.4% | 21.6% |
每股收益（稀释后）CRVLMRSH
| Q4 25 | $0.47 | $1.68 | ||
| Q3 25 | $0.54 | $1.51 | ||
| Q2 25 | $0.52 | $2.45 | ||
| Q1 25 | $-1.23 | $2.79 | ||
| Q4 24 | $0.46 | $1.58 | ||
| Q3 24 | $1.35 | $1.51 | ||
| Q2 24 | $1.25 | $2.27 | ||
| Q1 24 | $1.12 | $2.82 |
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 | $2.7B |
| 总债务越低越好 | — | $19.6B |
| 股东权益账面价值 | $375.7M | $15.3B |
| 总资产 | $644.8M | $58.7B |
| 负债/权益比越低杠杆越低 | — | 1.28× |
8季度趋势，按日历期对齐
现金及短期投资CRVLMRSH
| Q4 25 | $230.0M | $2.7B | ||
| Q3 25 | $207.5M | $2.5B | ||
| Q2 25 | $202.0M | $1.7B | ||
| Q1 25 | $170.6M | $1.6B | ||
| Q4 24 | $162.9M | $2.4B | ||
| Q3 24 | $138.3M | $1.8B | ||
| Q2 24 | $131.9M | $1.7B | ||
| Q1 24 | $105.6M | $1.5B |
总债务CRVLMRSH
| Q4 25 | — | $19.6B | ||
| Q3 25 | — | $19.6B | ||
| Q2 25 | — | $19.6B | ||
| Q1 25 | — | $19.5B | ||
| Q4 24 | — | $19.9B | ||
| Q3 24 | — | $12.8B | ||
| Q2 24 | — | $12.8B | ||
| Q1 24 | — | $13.4B |
股东权益CRVLMRSH
| Q4 25 | $375.7M | $15.3B | ||
| Q3 25 | $362.8M | $15.4B | ||
| Q2 25 | $342.5M | $16.0B | ||
| Q1 25 | $322.0M | $14.3B | ||
| Q4 24 | $300.9M | $13.5B | ||
| Q3 24 | $282.8M | $13.9B | ||
| Q2 24 | $263.9M | $13.6B | ||
| Q1 24 | $247.6M | $12.6B |
总资产CRVLMRSH
| Q4 25 | $644.8M | $58.7B | ||
| Q3 25 | $611.7M | $58.8B | ||
| Q2 25 | $597.4M | $58.6B | ||
| Q1 25 | $546.0M | $57.0B | ||
| Q4 24 | $538.8M | $56.5B | ||
| Q3 24 | $518.6M | $49.9B | ||
| Q2 24 | $486.2M | $48.6B | ||
| Q1 24 | $454.7M | $47.6B |
负债/权益比CRVLMRSH
| Q4 25 | — | 1.28× | ||
| Q3 25 | — | 1.27× | ||
| Q2 25 | — | 1.23× | ||
| Q1 25 | — | 1.37× | ||
| Q4 24 | — | 1.47× | ||
| Q3 24 | — | 0.93× | ||
| Q2 24 | — | 0.94× | ||
| Q1 24 | — | 1.06× |
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 | $2.2B |
| 自由现金流经营现金流 - 资本支出 | $35.2M | $2.1B |
| 自由现金流率自由现金流/营收 | 14.9% | 31.2% |
| 资本支出强度资本支出/营收 | 4.7% | 1.6% |
| 现金转化率经营现金流/净利润 | 1.91× | 2.63× |
| 过去12个月自由现金流最近4个季度 | $104.3M | $5.0B |
8季度趋势，按日历期对齐
经营现金流CRVLMRSH
| Q4 25 | $46.1M | $2.2B | ||
| Q3 25 | $25.0M | $2.1B | ||
| Q2 25 | $55.0M | $1.7B | ||
| Q1 25 | $22.9M | $-622.0M | ||
| Q4 24 | $41.6M | $2.0B | ||
| Q3 24 | $22.3M | $1.9B | ||
| Q2 24 | $40.4M | $1.2B | ||
| Q1 24 | $15.2M | $-781.0M |
自由现金流CRVLMRSH
| Q4 25 | $35.2M | $2.1B | ||
| Q3 25 | $15.3M | $2.0B | ||
| Q2 25 | $39.5M | $1.6B | ||
| Q1 25 | $14.3M | $-677.0M | ||
| Q4 24 | $32.1M | $1.9B | ||
| Q3 24 | $12.4M | $1.8B | ||
| Q2 24 | $32.8M | $1.1B | ||
| Q1 24 | $5.2M | $-868.0M |
自由现金流率CRVLMRSH
| Q4 25 | 14.9% | 31.2% | ||
| Q3 25 | 6.4% | 31.6% | ||
| Q2 25 | 16.8% | 23.1% | ||
| Q1 25 | 6.2% | -9.6% | ||
| Q4 24 | 14.1% | 31.0% | ||
| Q3 24 | 5.5% | 32.3% | ||
| Q2 24 | 15.5% | 18.2% | ||
| Q1 24 | 2.5% | -13.4% |
资本支出强度CRVLMRSH
| Q4 25 | 4.7% | 1.6% | ||
| Q3 25 | 4.1% | 1.1% | ||
| Q2 25 | 6.6% | 0.8% | ||
| Q1 25 | 3.7% | 0.8% | ||
| Q4 24 | 4.2% | 1.3% | ||
| Q3 24 | 4.4% | 1.3% | ||
| Q2 24 | 3.6% | 1.3% | ||
| Q1 24 | 4.8% | 1.3% |
现金转化率CRVLMRSH
| Q4 25 | 1.91× | 2.63× | ||
| Q3 25 | 0.90× | 2.79× | ||
| Q2 25 | 2.02× | 1.38× | ||
| Q1 25 | 0.87× | -0.45× | ||
| Q4 24 | 1.75× | 2.48× | ||
| Q3 24 | 0.95× | 2.56× | ||
| Q2 24 | 1.87× | 1.08× | ||
| Q1 24 | 0.78× | -0.56× |
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% |
MRSH
| Marsh Insurance Group | $3.6B | 55% |
| Consulting Segment | $2.6B | 40% |
| Guy Carpenter Reinsurance Group | $179.0M | 3% |
| Other | $175.0M | 3% |
