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CORVEL CORP（CRVL）与怡安集团（RYAN）财务数据对比。点击上方公司名可切换其他公司
怡安集团的季度营收约是CORVEL CORP的3.1倍（$738.0M vs $235.6M）。CORVEL CORP净利率更高（10.3% vs 1.1%，领先9.2%）。怡安集团同比增速更快（13.6% vs 3.4%）。过去两年怡安集团的营收复合增速更高（17.1% 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。
怡安集团是一家业务横跨英美两国的专业服务企业，目前主要开展两大板块业务：风险资本板块提供风险管理、保险及再保险领域的经纪与咨询服务；人力资本板块则提供健康保险、退休计划、养老金计划与人才咨询相关服务。
CRVL vs RYAN — 直观对比
营收规模更大
RYAN
是对方的3.1倍
$235.6M
营收增速更快
RYAN
高出10.3%
3.4%
净利率更高
CRVL
高出9.2%
1.1%
两年增速更快
RYAN
近两年复合增速
6.6%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $235.6M | $738.0M |
| 净利润 | $24.2M | $8.0M |
| 毛利率 | 23.3% | — |
| 营业利润率 | 13.7% | 12.4% |
| 净利率 | 10.3% | 1.1% |
| 营收同比 | 3.4% | 13.6% |
| 净利润同比 | 1.7% | -42.0% |
| 每股收益（稀释后） | $0.47 | — |
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CRVLRYAN
| Q4 25 | $235.6M | $738.0M | ||
| Q3 25 | $239.6M | $739.6M | ||
| Q2 25 | $234.7M | $840.9M | ||
| Q1 25 | $231.5M | $676.1M | ||
| Q4 24 | $228.0M | $649.4M | ||
| Q3 24 | $224.4M | $588.1M | ||
| Q2 24 | $211.7M | $680.2M | ||
| Q1 24 | $207.2M | $537.9M |
净利润CRVLRYAN
| Q4 25 | $24.2M | $8.0M | ||
| Q3 25 | $27.9M | $31.1M | ||
| Q2 25 | $27.2M | $52.0M | ||
| Q1 25 | $26.4M | $-27.6M | ||
| Q4 24 | $23.8M | $13.8M | ||
| Q3 24 | $23.4M | $17.6M | ||
| Q2 24 | $21.6M | $46.8M | ||
| Q1 24 | $19.5M | $16.5M |
毛利率CRVLRYAN
| 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CRVLRYAN
| Q4 25 | 13.7% | 12.4% | ||
| Q3 25 | 15.0% | 15.0% | ||
| Q2 25 | 15.0% | 22.7% | ||
| Q1 25 | 14.4% | 14.8% | ||
| Q4 24 | 13.5% | 16.8% | ||
| Q3 24 | 12.8% | 13.9% | ||
| Q2 24 | 13.2% | 24.2% | ||
| Q1 24 | 10.9% | 13.5% |
净利率CRVLRYAN
| Q4 25 | 10.3% | 1.1% | ||
| Q3 25 | 11.6% | 4.2% | ||
| Q2 25 | 11.6% | 6.2% | ||
| Q1 25 | 11.4% | -4.1% | ||
| Q4 24 | 10.4% | 2.1% | ||
| Q3 24 | 10.4% | 3.0% | ||
| Q2 24 | 10.2% | 6.9% | ||
| Q1 24 | 9.4% | 3.1% |
每股收益（稀释后）CRVLRYAN
| Q4 25 | $0.47 | — | ||
| Q3 25 | $0.54 | — | ||
| Q2 25 | $0.52 | — | ||
| Q1 25 | $-1.23 | — | ||
| Q4 24 | $0.46 | — | ||
| Q3 24 | $1.35 | — | ||
| Q2 24 | $1.25 | — | ||
| Q1 24 | $1.12 | — |
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 | $158.3M |
| 总债务越低越好 | — | $3.3B |
| 股东权益账面价值 | $375.7M | $648.1M |
| 总资产 | $644.8M | $10.6B |
| 负债/权益比越低杠杆越低 | — | 5.16× |
8季度趋势，按日历期对齐
现金及短期投资CRVLRYAN
| Q4 25 | $230.0M | $158.3M | ||
| Q3 25 | $207.5M | $153.5M | ||
| Q2 25 | $202.0M | $172.6M | ||
| Q1 25 | $170.6M | $203.5M | ||
| Q4 24 | $162.9M | $540.2M | ||
| Q3 24 | $138.3M | $235.2M | ||
| Q2 24 | $131.9M | $1.7B | ||
| Q1 24 | $105.6M | $1.6B |
总债务CRVLRYAN
| Q4 25 | — | $3.3B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $3.3B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益CRVLRYAN
| Q4 25 | $375.7M | $648.1M | ||
| Q3 25 | $362.8M | $630.5M | ||
| Q2 25 | $342.5M | $610.1M | ||
| Q1 25 | $322.0M | $542.5M | ||
| Q4 24 | $300.9M | $627.7M | ||
| Q3 24 | $282.8M | $632.8M | ||
| Q2 24 | $263.9M | $605.9M | ||
| Q1 24 | $247.6M | $554.4M |
总资产CRVLRYAN
| Q4 25 | $644.8M | $10.6B | ||
| Q3 25 | $611.7M | $9.9B | ||
| Q2 25 | $597.4M | $10.6B | ||
| Q1 25 | $546.0M | $9.9B | ||
| Q4 24 | $538.8M | $9.6B | ||
| Q3 24 | $518.6M | $8.5B | ||
| Q2 24 | $486.2M | $8.3B | ||
| Q1 24 | $454.7M | $7.1B |
负债/权益比CRVLRYAN
| Q4 25 | — | 5.16× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 5.22× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $263.2M |
| 自由现金流经营现金流 - 资本支出 | $35.2M | — |
| 自由现金流率自由现金流/营收 | 14.9% | — |
| 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× | 32.99× |
| 过去12个月自由现金流最近4个季度 | $104.3M | — |
8季度趋势，按日历期对齐
经营现金流CRVLRYAN
| Q4 25 | $46.1M | $263.2M | ||
| Q3 25 | $25.0M | $169.7M | ||
| Q2 25 | $55.0M | $353.6M | ||
| Q1 25 | $22.9M | $-142.8M | ||
| Q4 24 | $41.6M | $259.6M | ||
| Q3 24 | $22.3M | $100.9M | ||
| Q2 24 | $40.4M | $270.8M | ||
| Q1 24 | $15.2M | $-116.5M |
自由现金流CRVLRYAN
| Q4 25 | $35.2M | — | ||
| Q3 25 | $15.3M | $167.3M | ||
| Q2 25 | $39.5M | — | ||
| Q1 25 | $14.3M | $-143.5M | ||
| Q4 24 | $32.1M | — | ||
| Q3 24 | $12.4M | — | ||
| Q2 24 | $32.8M | — | ||
| Q1 24 | $5.2M | — |
自由现金流率CRVLRYAN
| Q4 25 | 14.9% | — | ||
| Q3 25 | 6.4% | 22.6% | ||
| Q2 25 | 16.8% | — | ||
| Q1 25 | 6.2% | -21.2% | ||
| Q4 24 | 14.1% | — | ||
| Q3 24 | 5.5% | — | ||
| Q2 24 | 15.5% | — | ||
| Q1 24 | 2.5% | — |
资本支出强度CRVLRYAN
| Q4 25 | 4.7% | 0.0% | ||
| Q3 25 | 4.1% | 0.3% | ||
| Q2 25 | 6.6% | 0.0% | ||
| Q1 25 | 3.7% | 0.1% | ||
| Q4 24 | 4.2% | 0.0% | ||
| Q3 24 | 4.4% | 0.0% | ||
| Q2 24 | 3.6% | 0.0% | ||
| Q1 24 | 4.8% | 0.0% |
现金转化率CRVLRYAN
| Q4 25 | 1.91× | 32.99× | ||
| Q3 25 | 0.90× | 5.46× | ||
| Q2 25 | 2.02× | 6.80× | ||
| Q1 25 | 0.87× | — | ||
| Q4 24 | 1.75× | 18.88× | ||
| Q3 24 | 0.95× | 5.74× | ||
| Q2 24 | 1.87× | 5.79× | ||
| Q1 24 | 0.78× | -7.05× |
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% |
RYAN
| Wholesale Brokerage | $385.7M | 52% |
| Underwriting Management | $268.3M | 36% |
| Binding Authorities | $84.0M | 11% |
