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CPRT

Copart, Inc.

CPRT

Copart, Inc. • NASDAQ
$38.98 ▲ 0.59% (+0.23)
Market Cap $37.73 B
52w High $63.85
52w Low $38.67
Dividend Yield 0%
P/E 23.91
Volume 3.17M
Outstanding Shares 967.96M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q1-2026 $1.155B ▲ $106.304M ▲ $403.714M ▲ 34.953% ▼ $0.42 ▲ $478.084M ▼
Q4-2025 $1.125B ▼ $97.127M ▼ $396.354M ▼ 35.228% ▲ $0.41 ▼ $532.015M ▲
Q3-2025 $1.212B ▲ $100.722M ▲ $406.609M ▲ 33.556% ▲ $0.42 ▲ $506.065M ▲
Q2-2025 $1.163B ▲ $99.342M ▼ $387.4M ▲ 33.301% ▲ $0.4 ▲ $480.471M ▲
Q1-2025 $1.147B $105.738M $362.086M 31.573% $0.38 $461.229M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q1-2026 $5.243B ▲ $10.581B ▲ $961.903M ▲ $9.6B ▲
Q4-2025 $4.789B ▲ $10.091B ▲ $883.411M ▲ $9.187B ▲
Q3-2025 $4.384B ▲ $9.672B ▲ $869.525M ▲ $8.781B ▲
Q2-2025 $3.797B ▲ $9.187B ▲ $863.315M ▼ $8.301B ▲
Q1-2025 $3.698B $8.869B $949.541M $7.896B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q1-2026 $403.714M ▲ $535.253M ▲ $1.916B ▲ $450K ▼ $2.453B ▲ $427.211M ▲
Q4-2025 $395.308M ▼ $438.476M ▼ $-28.399M ▲ $7.934M ▲ $414.032M ▲ $350.835M ▼
Q3-2025 $405.338M ▲ $700.873M ▲ $-1.687B ▼ $6.46M ▼ $-972.41M ▼ $572.923M ▲
Q2-2025 $386.541M ▲ $178.127M ▼ $-574.72M ▼ $35.576M ▲ $-359.209M ▼ $61.486M ▼
Q1-2025 $361.176M $482.274M $1.702B $2.137M $2.184B $245.516M

Revenue by Products

Product Q1-2025Q2-2025Q3-2025Q4-2025
Product
Product
 $160.00M ▲$170.00M ▲$180.00M ▲$170.00M ▼
Service
Service
 $990.00M ▲$990.00M ▲$1.03Bn ▲$960.00M ▼

Five-Year Company Overview

Income Statement

Income Statement Copart’s income statement shows a business that has been growing steadily and profitably over several years. Revenue has climbed each year, and profits have grown along with it rather than lagging behind. Margins remain strong, even though there’s a mild sign that costs are creeping up a bit faster than before. Earnings per share have risen consistently, which signals that growth is not just coming from expansion but is also reaching shareholders. Overall, the company looks like a mature, high‑margin operator that is still in a growth phase.

Balance Sheet

Balance Sheet The balance sheet is a clear strength. Total assets have expanded meaningfully, with a particularly large and growing cash position. Debt has been reduced to very low levels, so the company operates with minimal financial leverage. Shareholders’ equity has grown solidly, reflecting retained profits being reinvested back into the business. In practical terms, this means Copart has a lot of financial flexibility, a conservative capital structure, and a cushion to handle downturns or fund new initiatives without relying heavily on borrowing.

Cash Flow

Cash Flow Cash flow follows the same positive pattern as earnings, which is an important sign of quality. The company consistently turns its profits into cash, and operating cash flow has increased year after year. Copart is investing a meaningful amount back into the business through capital spending, but still generates healthy free cash flow after these investments. This combination—rising cash generation, ongoing investment, and cash left over—suggests a business model that is both scalable and self‑funded, with room to support growth projects, potential acquisitions, or further balance sheet strengthening.

Competitive Edge

Competitive Edge Copart’s competitive position is built around a powerful mix of technology, scale, and infrastructure. Its online auction platform has a very large global buyer base, which makes the marketplace more attractive to sellers, reinforcing a strong network effect. The company also controls an extensive network of vehicle yards and logistical assets, which are hard and expensive for new entrants to replicate. Long‑standing, deeply embedded relationships with major insurance companies create switching frictions for its core customers. While competition exists, especially from other salvage and auction players, Copart’s combination of digital leadership, physical footprint, and customer integration gives it a durable and hard‑to‑copy moat, though it remains exposed to trends in accident volumes, insurance practices, used‑car pricing, and regulation.

Innovation and R&D

Innovation and R&D Innovation at Copart is focused on software, data, and process automation rather than traditional lab‑style R&D. Its proprietary auction engine, mobile apps, and machine‑learning tools are designed to improve pricing, speed, and convenience for both sellers and buyers. Data‑driven tools help insurers decide whether to repair or total a vehicle and optimize auction pricing, while AI and computer vision are being used to enhance vehicle assessments. The company is also probing adjacent areas like heavy equipment auctions and “green” recycled parts, aligning with sustainability trends. Looking ahead, further use of AI, richer digital inspection experiences, stronger data‑privacy safeguards, and selective international expansion all suggest that innovation is a central part of Copart’s strategy to deepen its moat and open new revenue streams.

Summary

Copart comes across as a financially strong, tech‑enabled market leader in a niche but globally relevant segment: online auctions for damaged and used vehicles. Its income statement shows steady growth with robust profitability, its balance sheet is very conservative with substantial cash and little debt, and its cash flows comfortably support both reinvestment and financial flexibility. Competitively, the firm benefits from network effects, a large physical footprint, and tight links with insurers, all reinforced by proprietary technology and data. Key uncertainties include exposure to the broader auto and insurance cycles, regulatory and zoning environments for yards, and ongoing competition, but the overall picture is of a well‑entrenched, highly cash‑generative platform business that continues to invest to stay ahead technologically and expand its opportunity set.

NEWS

November 20, 2025 · 4:15 PM UTC

Copart Reports First Quarter Fiscal 2026 Financial Results

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November 11, 2025 · 8:06 PM UTC

Copart, Inc. to Release First Quarter Fiscal 2026 Results

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October 15, 2025 · 9:00 AM UTC

Faster Lienholder Payments: One Inc and Copart Lead the Way in Automotive Claims Innovation

Read more