CorVel
CRVL · Health Care Services
$83.87
0.0%Lifestance Health
LFST · Health Care Services
$12.93
2.9%The short version
- Lifestance Health is the larger business, with $1.4B of revenue in fiscal 2025 against $959M for CorVel.
- Lifestance Health grew revenue faster (13.9%, against 7.0%).
- CorVel turned more of its sales into free cash flow (11.5% FCF margin, against 7.7% FCF margin).
- Investors pay more for each dollar of Lifestance Health’s earnings: a P/E of 99.5x against 37.3x for CorVel.
| Latest fiscal year | CRVL · FY26 | LFST · FY25 |
|---|---|---|
| Size | ||
| Market cap | $4.3B | $5.0B |
| Revenue | $959M | $1.4B |
| Free cash flow | $110M | $110M |
| Net income | $110M | $9.7M |
| Growth | ||
| Revenue growth | 7.0% | 13.9% |
| 5-year growth | 11.6% | 46.3% |
| Share count change | −0.7% | 3.2% |
| Profitability | ||
| Gross margin | 24.3% | — |
| Operating margin | — | 1.7% |
| Net margin | 11.5% | 0.7% |
| FCF margin | 11.5% | 7.7% |
| Return on capital | — | 1.2% |
| Return on equity | 30.8% | 0.7% |
| Balance sheet | ||
| Net debt | — | $34.2M |
| Net debt / EBITDA | — | 0.5x |
| Dividends and buybacks | $56.2M | $0.0M |
| Valuation & quality | ||
| P/E | 37.3x | 99.5x |
| Piotroski F-score | — | 7 |
FY17
CRVL $519M
LFST —
FY18
CRVL $558M
LFST —
FY19
CRVL $596M
LFST $213M
FY20
CRVL $592M
LFST —
FY21
CRVL $553M
LFST $668M
FY22
CRVL $646M
LFST $860M
FY23
CRVL $719M
LFST $1.1B
FY24
CRVL $795M
LFST $1.3B
FY25
CRVL $896M
LFST $1.4B
FY26
CRVL $959M
LFST —
CRVL
LFST
FY17
CRVL —
LFST —
FY18
CRVL —
LFST —
FY19
CRVL —
LFST 7.2%
FY20
CRVL —
LFST —
FY21
CRVL —
LFST −42.9%
FY22
CRVL —
LFST −24.5%
FY23
CRVL —
LFST −17.9%
FY24
CRVL —
LFST −2.5%
FY25
CRVL —
LFST 1.7%
FY26
CRVL —
LFST —
CRVL
LFST
FY17
CRVL $21.0M
LFST —
FY18
CRVL $34.5M
LFST —
FY19
CRVL $63.4M
LFST $2.7M
FY20
CRVL $48.5M
LFST —
FY21
CRVL $77.1M
LFST −$85.1M
FY22
CRVL $37.4M
LFST −$26.5M
FY23
CRVL $56.0M
LFST −$57.4M
FY24
CRVL $70.0M
LFST $85.7M
FY25
CRVL $91.6M
LFST $110M
FY26
CRVL $110M
LFST —
CRVL
LFST
FY17
CRVL —
LFST —
FY18
CRVL —
LFST —
FY19
CRVL —
LFST —
FY20
CRVL —
LFST —
FY21
CRVL —
LFST —
FY22
CRVL —
LFST −10.4%
FY23
CRVL —
LFST −9.1%
FY24
CRVL —
LFST −1.6%
FY25
CRVL —
LFST 1.2%
FY26
CRVL —
LFST —
CRVL
LFST
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