Addus HomeCare vs CorVel
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The short version
- Addus HomeCare is the larger business, with $1.4B of revenue in fiscal 2025 against $959M for CorVel.
- Addus HomeCare grew revenue faster (23.2%, against 7.0%).
- CorVel turned more of its sales into free cash flow (11.5% FCF margin, against 7.3%).
- Investors pay more for each dollar of CorVel’s earnings: a P/E of 37.3x against 21.3x for Addus HomeCare.
| Latest fiscal year | ADUS · FY25 | CRVL · FY26 |
|---|---|---|
| Size | ||
| Market cap | $2.3B | $4.3B |
| Revenue | $1.4B | $959M |
| Free cash flow | $104M | $110M |
| Net income | $95.9M | $110M |
| Growth | ||
| Revenue growth | 23.2% | 7.0% |
| 5-year growth | 13.2% | 11.6% |
| Share count change | 5.8% | −0.7% |
| Profitability | ||
| Gross margin | 32.5% | 24.3% |
| Operating margin | 9.7% | — |
| Net margin | 6.7% | 11.5% |
| FCF margin | 7.3% | 11.5% |
| Return on capital | 9.4% | — |
| Return on equity | 9.3% | 30.8% |
| Balance sheet | ||
| Net debt | $39.4M | — |
| Net debt / EBITDA | 0.3x | — |
| Dividends and buybacks | $0.0M | $56.2M |
| Valuation & quality | ||
| P/E | 21.3x | 37.3x |
| Piotroski F-score | 5 | — |
Revenue
FY17
ADUS $426M
CRVL $519M
FY18
ADUS $517M
CRVL $558M
FY19
ADUS $649M
CRVL $596M
FY20
ADUS $765M
CRVL $592M
FY21
ADUS $865M
CRVL $553M
FY22
ADUS $951M
CRVL $646M
FY23
ADUS $1.1B
CRVL $719M
FY24
ADUS $1.2B
CRVL $795M
FY25
ADUS $1.4B
CRVL $896M
FY26
ADUS —
CRVL $959M
ADUS
CRVL
Operating margin
FY17
ADUS 5.9%
CRVL —
FY18
ADUS 4.4%
CRVL —
FY19
ADUS 5.4%
CRVL —
FY20
ADUS 5.8%
CRVL —
FY21
ADUS 7.6%
CRVL —
FY22
ADUS 7.2%
CRVL —
FY23
ADUS 8.6%
CRVL —
FY24
ADUS 8.9%
CRVL —
FY25
ADUS 9.7%
CRVL —
FY26
ADUS —
CRVL —
ADUS
CRVL
Free cash flow
FY17
ADUS $49.2M
CRVL $21.0M
FY18
ADUS $27.9M
CRVL $34.5M
FY19
ADUS $7.4M
CRVL $63.4M
FY20
ADUS $103M
CRVL $48.5M
FY21
ADUS $34.8M
CRVL $77.1M
FY22
ADUS $96.8M
CRVL $37.4M
FY23
ADUS $103M
CRVL $56.0M
FY24
ADUS $110M
CRVL $70.0M
FY25
ADUS $104M
CRVL $91.6M
FY26
ADUS —
CRVL $110M
ADUS
CRVL
Return on capital
FY17
ADUS 8.6%
CRVL —
FY18
ADUS 9.7%
CRVL —
FY19
ADUS 8.5%
CRVL —
FY20
ADUS 7.1%
CRVL —
FY21
ADUS 8.3%
CRVL —
FY22
ADUS 8.0%
CRVL —
FY23
ADUS 9.6%
CRVL —
FY24
ADUS 8.2%
CRVL —
FY25
ADUS 9.4%
CRVL —
FY26
ADUS —
CRVL —
ADUS
CRVL
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.