CorVel vs Lifestance Health
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KIRAβs take AI analyst
I put CorVel and Lifestance Health side by side, using each oneβs latest annual report. Here is what stands out:
- 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%).
- Investors pay more for each dollar of Lifestance Healthβs earnings: a P/E of 99.5x against 37.3x for CorVel.
Who comes out ahead
Of the 6 measures where higher (or lower) is clearly better, how many each company leads.
CorVel
CRVL
4/6
Net marginFCF marginReturn on equityShare count change
Lifestance Health
LFST
2/6
Revenue growth5-year growth
Side by side
Best in the row
| 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 | β0.7% | 3.2% |
| Profitability | ||
| Gross margin | 24.3% | β |
| Operating margin | β | 1.7% |
| Net margin | 11.5% | 0.7% |
| FCF margin | 11.5% | 7.7% |
| Return on capital | β | 1.2% |
| Return on equity | 30.8% | 0.7% |
| Balance sheet | ||
| Net debt | β | $34.2M |
| Net debt / EBITDA | β | 0.5x |
| Dividends and buybacks | $56.2M | $0.0M |
| Valuation & quality | ||
| P/E | 37.3x | 99.5x |
| Piotroski F-score | β | 7 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.