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Copart (CPRT) stock

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NASDAQ: CPRT Nasdaq Diversified Support Services Next results ~November 19, 2026

B Fundamentals grade

Copart is a US-listed company in the diversified support services industry. Its financial year ends in July.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$28

Cash-flow model

Base case. Range ~$21–$36 across our lower- and higher-growth cases (-1.6%–8.4% a year).

Price vs value

Modestly overvalued

The price is inside our value range, 16% above our base value.

Price used: $31.93, November 2, 2026

Copart valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 4 selling0 purchases and 8 sales by directors and officers, last 12 monthsInsider trades
  • Funds512 adding, 539 cuttingOf 83 active managers that changed their stake, 45 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Copart files

Where Copart stands after its latest 10-K

Revenue for the twelve months to July 2026 was $4.67bn, up 0.4% on a year earlier, slower than 1.0% a quarter earlier. That puts it 817 of 931 for growth among all the companies we cover. Free-cash-flow margin held at 27.2%. The diluted share count is down 2.1% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 2 of our 2 financial-health checks. Our cash-flow model value is $24.31 a share, against a share price of $27.47. At that price, our model says the market is pricing in about 6.0% a year of cash-flow growth for five years, slower than the 11.6% a year revenue growth it has delivered.

Source: 10-K filed September 29, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 19, 2026 (estimated)

Copart's trailing-twelve-month revenue grew 0.4% year on year, with a free-cash-flow margin of 27.2%. Where it stands out: operating margin of 35.4% ranks 1 of 29 diversified support services companies we cover. Where it lags: revenue growth of 0.4% ranks 26 of 32 diversified support services companies we cover.

Our discounted-cash-flow model values the business at ~$28 per share in the base case (~$21–$36 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Revenue growth decelerating: TTM revenue growth slowed to 0.4% (-0.6pp vs the prior quarter), the 6th consecutive quarterly slowdown.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • High operating margin. 35.4% of revenue is left as operating profit, against a median of 4.5% for diversified support services companies we cover.
  • Strong cash generation. 27.2% of revenue turned into free cash flow, against a median of 4.1% for diversified support services companies we cover.
  • Shrinking share count. Diluted shares fell 2.1% in a year, so each share owns more of the business.
  • Net cash. Cash exceeds long-term debt by $1.9bn.

Things to watch

  • Below peers: revenue growth. Revenue growth of 0.4% ranks 26 of 32 diversified support services companies we cover (median 6.5%).
  • Missing expectations. Earnings per share fell short of the consensus estimate in 2 of the last four quarters.

Latest results: FY2026 Q4

Filed September 29, 2026
Earnings per share
$0.35 against an average estimate of $0.38: missed by 8.5%
Revenue
$1.15bn, up 2.4% on a year earlier
Share reaction
-6.5% in the first session after the results on September 10, 2026, against +0.2% for the S&P 500
Next report
November 19, 2026; average EPS estimate $0.40

Copart's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+6.0%
  • 1 week+9.5%
  • 1 month+17.3%
  • This year-18.4%
  • 1 year-25.8%
  • 5 years-18.0%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$4.7B
Operating margin
35.4%
Net margin
31.8%
EPS (TTM, diluted)
$1.55

Growth

Revenue growth
+0.4%
Change in growth rate
−0.6 pts
Share count change
−2.1%

Cash

Free cash flow (TTM)
$1.3B
FCF margin
27.2%
Stock pay % of revenue
0.8%

Earnings

Last results
September 10, 2026
Next results (est.)
December 10, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Leadership
  2. Deal
  3. Agreement
  4. Results
  5. Leadership
  6. Insider trade
  7. Leadership

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Copart valuation models and calculator

What the price is pricing in

The share price implies about 8.1% a year of cash-flow growth for five years.That is close to the 11.6% a year revenue growth Copart has delivered.

  • Priced in8.1%
  • Last 12 months0.4%
  • 3 years a year6.4%
  • 5 years a year11.6%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($31.34, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$28
Price used
$31.34close November 3, 2026
Implied change
▼ 12%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Copart's free cash flow after stock-based pay with after-tax interest added back ($1.2B, FY2026 Q4 TTM), growing 12.4% and 6.1% in the next two years (forecasts, guidance and its record), then back to 3.4% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$21–~$36 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Copart's free cash flow after stock-based pay ( $1.2B, FY2026 Q4 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Copart as an operating company, with every model that fits that kind of business. Cost of equity 8.5%: the 10-year Treasury yield (4.9%) plus a beta of 0.79 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$28 ~$21–$36 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$23 ~$22–$42 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$45 ~$30–$68 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$32 ~$27–$39 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$31 ~$23–$45 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Copart with Diversified Support Services in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −23%
  • Revenue growth 5 points higher ▲ +30%
  • Free-cash-flow margin 1 point lower ▼ −3%
  • Last year's free-cash-flow margin change, if it persists ▲ +2%
  • Discount rate 1 point higher ▼ −13%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $20$26$35$46$61$80
8.5% $16$20$27$35$45$58
10% $13$17$22$28$36$46

Valuation multiples over time Market data may be delayed

At fiscal year end 20162017201820192020202120222023202420252026
Share price$6.30$7.87$14.35$19.38$23.31$36.75$32.02$44.20$52.33$45.33$29.12
Market value$6.2bn$7.5bn$13.9bn$18.6bn$22.3bn$35.3bn$30.9bn$42.7bn$51.0bn$44.3bn$27.9bn
+ Net debt (− = net cash)$485m$423m$125m$215m−$78m−$648m−$1.4bn−$946m−$1.5bn−$2.8bn−$1.9bn
Enterprise value$6.6bn$7.9bn$14.0bn$18.9bn$22.2bn$34.7bn$29.5bn$41.8bn$49.5bn$41.5bn$26.0bn
Multiples
Price / sales 4.9x5.2x7.7x9.1x10.1x13.1x8.8x11.0x12.0x9.5x6.0x
Price / earnings 22.8x18.9x33.2x31.5x31.8x37.7x28.3x34.5x37.4x28.5x18.8x
Price / free cash flow 38.9x23.3x56.2x68.3x68.3x66.9x36.8x50.4x53.0x36.0x22.0x
EV / EBITDA 14.6x15.2x21.1x23.5x24.2x27.6x19.5x25.4x28.1x21.7x13.8x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

90 /100

Strong moat

How hard Copart's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Net income has been a median 19.1% of total assets over 10 years.

  • Pricing power 15 / 20

    Gross margin has been a median 42.6%, moving by 1.7 percentage points (standard deviation) across 8 years.

  • Durability 20 / 20

    Operating margin has been a median 36.8%; its worst year was 31.9%.

  • Cash conversion 20 / 20

    Free cash flow was positive in 10 of 10 years, at a median 21.7% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 75.1% over five years; stock-based pay has been a median 1.1% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (95 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 19, 2026, after the close. Analysts expect revenue of $1.2bn and EPS of $0.40 (range $0.38 to $0.42) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $1.63 +5% $5.5bn +18%
Next $1.81 +11% $6.2bn +13%

Next year's EPS estimate has moved −2.2% in 90 days, across 4 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −3.4% on 90 days ago. In the last 30 days, 0 analysts raised Copart's forecast and 9 cut it.

Consensus EPS forecast Copart, last 90 days
$1.60 $1.70 $1.80 $1.90 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $1.68 Current fiscal year, 60 days ago: $1.68 Current fiscal year, 30 days ago: $1.62 Current fiscal year, 7 days ago: $1.62 Current fiscal year, Now: $1.63 $1.63 Next fiscal year, 90 days ago: $1.85 Next fiscal year, 60 days ago: $1.85 Next fiscal year, 30 days ago: $1.76 Next fiscal year, 7 days ago: $1.75 Next fiscal year, Now: $1.81 $1.81

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $1.68$1.85
60 days ago $1.68$1.85
30 days ago $1.62$1.76
7 days ago $1.62$1.75
Now $1.63$1.81

Earnings against estimates

Quarter toEstimateActualSurprise
Jul 2026 $0.38 $0.35 −8.5%
Apr 2026 $0.41 $0.43 +5.7%
Jan 2026 $0.39 $0.36 −8.1%
Oct 2025 $0.39 $0.41 +5.1%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, September 10, 2026

No numeric guidance in Copart's latest earnings release (filed September 10, 2026). Some companies give their outlook only on the earnings call.

How our valuation uses these forecasts

Our cash-flow model grows Copart's revenue by +12.4% next year and +6.1% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+17.7%, weight 62%) and the company's own record (+3.4%, weight 38%) . How the weights are set.

Analyst recommendations

12 analysts, Oct 2026
Buy758%
Hold433%
Sell18%

Monthly trend

  1. Oct 2026434112
  2. Sep 2026434112
  3. Aug 2026345113
  4. Jul 2026255113

Counts of recommendations published by analysts covering Copart, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
4.6%
of tradable shares
Days to cover
3.44
at average volume
Short interest, 1 month
+0%
to October 15, 2026
Held by institutions
88%
of shares
Held by insiders
8.6%
of shares
Employees
21,000
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −25.8%

$43.01 on October 31, 2025 to $31.93

ThenNowEffect
Revenue (last 12 months) $4.6bn $4.7bn +0.4%
Net margin 33.4% 31.8% −4.8%
P/E multiple 27.1x 20.6x −24.0%
Share count 978m 957m +2.2%

Biggest factor: p/e multiple.

Last 3 years −30.5%

$45.93 on November 3, 2023 to $31.93

ThenNowEffect
Revenue (last 12 months) $3.9bn $4.7bn +20.6%
Net margin 32.0% 31.8% −0.6%
P/E multiple 35.9x 20.6x −42.6%
Share count 967m 957m +1.0%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
CPRT+19%−20%+61%+17%−32%−18%
Industry peers (median)+2%−9%+5%+1%−7%−10%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
CPRT50%42%75%42%42%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
CPRT−18%−32%−9%−15%−40%−37%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 59% from May 16, 2025 to October 14, 2026. Getting back needed a 143% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$26.27 – $43.00
From 52-week high
−25.7%
vs 50-day average
+8.1%
vs 200-day average
−1.2%
Volatility (1 year)
33%
Beta vs S&P 500
0.01

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 7 down
typical move ±5.1%
After a week
4 up, 8 down
typical move ±6.5%
After a month
2 up, 10 down
typical move ±9.0%
Results releasedNext dayS&P 500 next day5 days21 days
September 10, 2026 −6.5% +0.2% −7.4% −14.7%
May 21, 2026 +2.3% +0.6% −0.8% −10.4%
February 19, 2026 −3.4% +0.5% −1.6% −13.0%
November 20, 2025 −1.5% −0.5% −5.8% −4.9%
September 4, 2025 +0.9% +0.5% +1.6% −6.3%
May 22, 2025 −12.1% −0.6% −15.7% −20.4%
February 20, 2025 −5.3% −2.1% −7.5% −10.2%
November 21, 2024 +13.1% +0.8% +14.4% +5.3%
September 4, 2024 −7.5% −0.4% −7.7% −2.5%
May 16, 2024 −1.5% −0.1% −3.2% −1.7%
February 22, 2024 +5.1% +2.1% +8.7% +17.4%
November 16, 2023 +2.0% +0.2% +3.2% −1.0%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Copart’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Includes results

A results date falls inside these options’ life. Implied volatility is meant to be higher for that, so we do not call it rich.

  • Implied is 1.01× the last 60 days’ realised volatility .
  • Puts and calls are priced at about the same implied volatility.
  • Why: an earnings date falls inside the option's life, so implied volatility is expected to be high.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: fundamentals grade B (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

CPRT Copart Grade B $31.80

Own 100 shares, sell the $35.00 call expiring December 18, 2026 (46 days) for $0.60 a share — $60.00 per contract.

Previous session · Bid $0.60, ask $0.80, quoted Mon 2 Nov, 17:19 New York time with CPRT at $31.80. Option prices move with the shares: check the live chain at your broker before trading.

  • If CPRT ends below $35.00: you keep your shares and the $60.00 — 1.9% extra on the position, 15.0% a year at that pace.
  • If it ends above $35.00: your shares are sold at $35.00, a total return of 12.0% including the premium — at or above our value of ~$28.
$380 $0 −$624 Our value $28.00 Break-even $31.20 Price $31.80
Profit or loss per contract at expiry, by share price (including the shares bought at today's price).
Premium
$60.00
Annualised
15.0%
Break-even
$31.20
Max gain
$380.5
Chance of selling
~29%

Results are expected around December 10, 2026, before this option expires: the share price can jump on results, and the premium partly reflects that.

Collar

Own the shares, buy the $30.00 put and sell the $35.00 call, both expiring December 18, 2026 (46 days).

  • Net cost of $0.35 a share ($35.00 per contract of 100 shares).
  • Worst case at expiry: -6.7%, if the shares fall below $30.00 (-5.6% from today).
  • Best case at expiry: +9.0%, if the shares rise above $35.00 (+10.1%); gains beyond that go to the call buyer.

Offered because the shares trade at or above our fair value of $28.00: a way to hold on with a floor under the price, paid for by giving up upside the model does not expect. Strikes near 25-delta; the put at its ask and the call at its bid. Protection has a cost over time: research on protective puts finds they have usually lowered returns.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Copart in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Copart
$3.8B $4B $4.2B $4.4B $4.6B $4.8B FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Revenue (TTM), FY24 Q1: $4B Revenue (TTM), FY24 Q2: $4.1B Revenue (TTM), FY24 Q3: $4.2B Revenue (TTM), FY24 Q4: $4.2B Revenue (TTM), FY25 Q1: $4.4B Revenue (TTM), FY25 Q2: $4.5B Revenue (TTM), FY25 Q3: $4.6B Revenue (TTM), FY25 Q4: $4.6B Revenue (TTM), FY26 Q1: $4.7B Revenue (TTM), FY26 Q2: $4.6B Revenue (TTM), FY26 Q3: $4.6B Revenue (TTM), FY26 Q4: $4.7B $4.7B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY24 Q1 $4B
FY24 Q2 $4.1B
FY24 Q3 $4.2B
FY24 Q4 $4.2B
FY25 Q1 $4.4B
FY25 Q2 $4.5B
FY25 Q3 $4.6B
FY25 Q4 $4.6B
FY26 Q1 $4.7B
FY26 Q2 $4.6B
FY26 Q3 $4.6B
FY26 Q4 $4.7B
Revenue growth, TTM YoY Copart
0% 5% 10% 15% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Revenue growth, TTM YoY, FY24 Q1: 11.5% Revenue growth, TTM YoY, FY24 Q2: 10.5% Revenue growth, TTM YoY, FY24 Q3: 10.9% Revenue growth, TTM YoY, FY24 Q4: 9.5% Revenue growth, TTM YoY, FY25 Q1: 9.2% Revenue growth, TTM YoY, FY25 Q2: 11.0% Revenue growth, TTM YoY, FY25 Q3: 10.2% Revenue growth, TTM YoY, FY25 Q4: 9.7% Revenue growth, TTM YoY, FY26 Q1: 6.7% Revenue growth, TTM YoY, FY26 Q2: 2.4% Revenue growth, TTM YoY, FY26 Q3: 1.0% Revenue growth, TTM YoY, FY26 Q4: 0.4% 0.4%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q1 11.5%
FY24 Q2 10.5%
FY24 Q3 10.9%
FY24 Q4 9.5%
FY25 Q1 9.2%
FY25 Q2 11.0%
FY25 Q3 10.2%
FY25 Q4 9.7%
FY26 Q1 6.7%
FY26 Q2 2.4%
FY26 Q3 1.0%
FY26 Q4 0.4%
Operating margin (TTM) Copart
35% 36% 37% 38% 39% 40% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Operating margin (TTM), FY24 Q1: 39.3% Operating margin (TTM), FY24 Q2: 39.0% Operating margin (TTM), FY24 Q3: 38.5% Operating margin (TTM), FY24 Q4: 37.1% Operating margin (TTM), FY25 Q1: 36.3% Operating margin (TTM), FY25 Q2: 36.2% Operating margin (TTM), FY25 Q3: 35.8% Operating margin (TTM), FY25 Q4: 36.5% Operating margin (TTM), FY26 Q1: 37.0% Operating margin (TTM), FY26 Q2: 36.5% Operating margin (TTM), FY26 Q3: 36.6% Operating margin (TTM), FY26 Q4: 35.4% 35.4%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q1 39.3%
FY24 Q2 39.0%
FY24 Q3 38.5%
FY24 Q4 37.1%
FY25 Q1 36.3%
FY25 Q2 36.2%
FY25 Q3 35.8%
FY25 Q4 36.5%
FY26 Q1 37.0%
FY26 Q2 36.5%
FY26 Q3 36.6%
FY26 Q4 35.4%
FCF margin (TTM) Copart
20% 25% 30% 35% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 FCF margin (TTM), FY24 Q1: 22.6% FCF margin (TTM), FY24 Q2: 21.1% FCF margin (TTM), FY24 Q3: 20.4% FCF margin (TTM), FY24 Q4: 22.7% FCF margin (TTM), FY25 Q1: 22.8% FCF margin (TTM), FY25 Q2: 21.3% FCF margin (TTM), FY25 Q3: 25.7% FCF margin (TTM), FY25 Q4: 26.5% FCF margin (TTM), FY26 Q1: 30.3% FCF margin (TTM), FY26 Q2: 31.8% FCF margin (TTM), FY26 Q3: 28.9% FCF margin (TTM), FY26 Q4: 27.2% 27.2%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q1 22.6%
FY24 Q2 21.1%
FY24 Q3 20.4%
FY24 Q4 22.7%
FY25 Q1 22.8%
FY25 Q2 21.3%
FY25 Q3 25.7%
FY25 Q4 26.5%
FY26 Q1 30.3%
FY26 Q2 31.8%
FY26 Q3 28.9%
FY26 Q4 27.2%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2026, from the 10-K

Each dollar Copart took in during FY2026, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $4.7B
  2. Other income $186M · 4.0%
  3. Selling, general and admin $431M · 9.2%
  4. Other operating costs $2.6B · 55.3%
  5. Operating income $1.7B · 35.4%
  6. Income tax $355M · 7.6%
  7. Net income $1.5B · 31.8%

Shares of revenue. Source: Copart's 10-K for FY2026, as filed with the SEC. "Other" lines are what the reported lines leave unexplained. Other income is income outside operations, such as investment gains.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 Jul 2010 2011 Jul 2011 2012 Jul 2012 2013 Jul 2013 2014 Jul 2014 2015 Jul 2015 2016 Jul 2016 2017 Jul 2017 2018 Jul 2018 2019 Jul 2019 2020 Jul 2020 2021 Jul 2021 2022 Jul 2022 2023 Jul 2023 2024 Jul 2024 2025 Jul 2025 2026 Jul 2026
Income
Revenue 773 872 924 1,046 1,163 1,146 1,268 1,448 1,806 2,042 2,206 2,693 3,501 3,870 4,237 4,647 4,666
Gross profit — — — — — — 1,127 1,310 1,609 1,786 — — — — — — —
EBITDA 282 311 335 340 329 391 455 518 663 801 917 1,258 1,513 1,646 1,762 1,913 1,882
Operating income 239 265 286 283 275 344 406 461 584 716 816 1,136 1,375 1,487 1,572 1,697 1,653
Net income 152 166 182 180 179 220 270 394 418 592 700 936 1,090 1,238 1,363 1,552 1,484
Diluted EPS $0.11 $0.14 $0.17 $0.17 $0.17 $0.21 $0.28 $0.41 $0.43 $0.61 $0.73 $0.97 $1.13 $1.28 $1.40 $1.59 $1.55
Growth (year on year)
Revenue +4.0% +12.9% +6.0% +13.2% +11.2% −1.5% +10.7% +14.2% +24.7% +13.1% +8.0% +22.1% +30.0% +10.5% +9.5% +9.7% +0.4%
EBITDA +5.9% +10.2% +7.6% +1.6% −3.3% +19.0% +16.4% +13.9% +27.9% +20.9% +14.5% +37.2% +20.2% +8.8% +7.0% +8.6% −1.6%
Operating income +6.1% +11.0% +7.9% −1.2% −2.8% +25.3% +18.0% +13.5% +26.7% +22.6% +13.9% +39.3% +21.0% +8.1% +5.7% +7.9% −2.6%
Net income +7.5% +9.7% +9.5% −1.1% −0.7% +23.0% +23.0% +45.8% +6.0% +41.6% +18.3% +33.8% +16.4% +13.5% +10.1% +13.9% −4.4%
Diluted EPS +7.2% +21.3% +28.7% 0.0% −2.2% +23.5% +32.1% +49.5% +4.2% +42.2% +19.1% +32.4% +16.5% +13.3% +9.4% +13.6% −2.5%
Margins
Gross margin — — — — — — 88.9% 90.5% 89.1% 87.5% — — — — — — —
EBITDA margin 36.5% 35.7% 36.2% 32.5% 28.2% 34.1% 35.9% 35.8% 36.7% 39.2% 41.6% 46.7% 43.2% 42.5% 41.6% 41.2% 40.3%
Operating margin 30.9% 30.4% 31.0% 27.0% 23.6% 30.1% 32.0% 31.9% 32.4% 35.1% 37.0% 42.2% 39.3% 38.4% 37.1% 36.5% 35.4%
Net margin 19.6% 19.1% 19.7% 17.2% 15.4% 19.2% 21.3% 27.2% 23.1% 29.0% 31.7% 34.8% 31.1% 32.0% 32.2% 33.4% 31.8%
Free-cash-flow margin 16.0% 19.8% 18.9% 6.6% 15.6% 16.2% 12.5% 22.1% 13.7% 13.4% 14.8% 19.6% 24.0% 21.9% 22.7% 26.5% 27.2%
Cash flow
Cash from operations 199 243 230 199 263 265 332 492 535 647 918 991 1,177 1,364 1,473 1,800 1,604
Capital spending 76 70 55 130 82 79 174 172 288 374 592 463 337 517 511 569 337
Free cash flow 124 173 175 69 181 186 159 320 247 273 326 528 839 848 962 1,231 1,267
Stock-based pay 18 19 22 20 22 18 21 21 23 23 23 41 39 40 35 38 39
Free cash flow after stock pay 106 154 153 50 159 168 138 299 224 249 303 487 800 808 926 1,193 1,228
Balance sheet
Cash 268 74 140 64 159 456 156 210 275 186 478 1,048 1,384 957 1,514 2,781 1,908
Total debt 1 426 444 372 303 645 640 633 400 401 400 400 2 11 0 0 0
Net debt (negative = net cash) −267 352 304 309 144 189 485 423 125 215 −78 −648 −1,382 −946 −1,514 −2,781 −1,908
Diluted shares 1,360m 1,227m 1m 1,038m 1,050m 1,051m 977m 948m 968m 962m 955m 961m 965m 967m 975m 978m 957m
Returned to shareholders
Buybacks 13 740 203 15 1 233 443 0 0 365 0 0 — — 0 0 1,633
Total returned 13 740 203 15 1 233 443 0 0 365 0 0 — — 0 0 1,633

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · July 31, 2026
What it owns · $10.0bn
Short-term assets $5.6bnLonger-term assets $4.5bn
What it owes, and who funded it · $10.0bn
Short-term liabilities $704mLonger-term liabilities $210mShareholders' equity $9.1bn
  • Short-term assets cover short-term liabilities $5.6bn of assets due within a year against $704m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $5.6bn short-term assets against $210m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Copart's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Buybacks, last 3 fiscal years
$1.6B
Diluted share count
−2.1%
year over year
Days sales outstanding
63 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in diversified support services
Last 12 months unless stated CPRT RBA BCO RTO TRI GEO Median
Revenue, last 12 months $4.7bn $4.8bn $5.5bn $6.9bn $7.5bn $2.8bn $906m
Revenue growth, last 12 months 0.4% 9.7% 8.1% 4.4% 3.0% 15.3% 6.3%
Revenue growth, 3-year average 6.4% 25.1% 5.0% — — 5.0% 6.4%
Revenue growth, latest quarter 2.4% 11.1% 7.1% — — 15.1% 7.2%
Gross margin 45.7% 45.6% 26.4% — — — 29.0%
Operating margin 35.4% 16.0% 10.5% 8.5% 28.5% 11.2% 4.9%
Operating margin, 3-year average 36.3% 16.6% 9.8% — 22.5% 12.1% 9.9%
Net margin 31.8% 10.0% 3.3% 6.8% 20.1% 10.3% 2.7%
Cash from operations / revenue 34.4% 17.8% 10.2% 14.1% 35.5% 7.0% 7.1%
Free-cash-flow margin 27.2% 12.6% 7.2% 11.1% 27.0% 0.9% 3.7%
Free-cash-flow margin, 3-year average 25.4% 15.5% 7.2% — 25.2% 4.9% 7.4%
Stock pay / revenue 0.8% 1.2% 0.5% — — 0.9% 1.4%
Change in share count −2.1% 0.6% −4.4% 0.3% −0.4% −2.3% 0.1%

Median of all 32 companies we cover in diversified support services. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

32 diversified support services companies
Measure Company Peer median Rank
Revenue growth Growth 0.4% 6.5% 26 of 32
Change in growth rate Growth -0.6pp +0.8pp 21 of 32
Operating margin Profitability 35.4% 4.5% 1 of 29
Net margin Profitability 31.8% 3.3% 1 of 32
Free-cash-flow margin Cash generation 27.2% 4.1% 2 of 31
Stock pay as % of revenue Cash generation 0.8% 1.4% 7 of 26
Change in share count Balance sheet -2.1% -0.1% 11 of 28
Days sales outstanding Balance sheet 63 days 60 days 18 of 26

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to July 31, 2026
Products and services
Line of business Revenue Share YoY
Services $4B 85.1% 0.0%
Products $697M 14.9% ▲ 2.7%

From Copart's 10-K filed September 29, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$22.2B
Institutions reporting
1,054
Shares held vs prior quarter
▲ 2.9%
Positions opened / closed
111 / 137

Top buyers and sellers, Q2 2026: 512 institutions bought and 539 sold ; the biggest buyer was Marshall Wace, LLP (+5.8M shares) and the biggest seller Principal Financial Group Inc (−30.5M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $1.9B 67.7M 8.6% ▲ 6.9%
Vanguard Capital Management LLC $1.6B 57.3M 7.3% ▲ 0.1%
State Street Corp $1.1B 38.8M 4.9% ▲ 1.8%
Vanguard Portfolio Management LLC $1.1B 38.7M 4.9% ▼ 6.4%
Invesco Ltd. $931M 33.0M 4.2% ▲ 2.4%
Geode Capital Management, LLC $770M 27.4M 3.5% ▲ 13.1%
Bank Of New York Mellon Corp $489M 17.3M 2.2% ▼ 15.3%
Morgan Stanley $453M 16.1M 2.0% ▲ 10.9%
Capital World Investors $442M 15.7M 2.0% ▼ 13.7%
Deutsche Bank Ag\ $436M 15.5M 2.0% ▲ 42.4%
Norges Bank $407M 14.4M 1.8% —
AQR Capital Management LLC $395M 14.0M 1.8% ▲ 48.4%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Copart's complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $9.4M 8 trades by 4 insiders · 29% under pre-set plans
Net ▼ $9.4M net selling
Insider Date Trade Shares Price Value
Morefield Diane M Director October 15, 2026 Sell 20,000 $27.66 $553,200
Liaw Jeffrey Chief Executive Officer July 28, 2026 Sell pre-set plan 27,745 $30.49 $845,945
Englander Daniel J Director July 13, 2026 Sell 80,000 $27.55 $2.2M
Liaw Jeffrey Chief Executive Officer April 15, 2026 Sell pre-set plan 2,343 $33.17 $77,717
Liaw Jeffrey Chief Executive Officer April 15, 2026 Sell pre-set plan 23,870 $33.18 $792,007
Liaw Jeffrey Chief Executive Officer January 15, 2026 Sell pre-set plan 22,693 $40.17 $911,578
Liaw Jeffrey Chief Executive Officer January 15, 2026 Sell pre-set plan 2,444 $40.17 $98,175
Tryforos Thomas N Director November 25, 2025 Sell 100,000 $39.07 $3.9M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 10 trades and filings

No trades in Copart disclosed in the last 12 months; 10 earlier trades on record.

  • Val T. Hoyle(D-OR 4):Sale (full), $1,001 - $15,000, traded August 19, 2025, filed September 12, 2025
  • Jefferson Shreve(R-IN 6):Sale (full), $15,001 - $50,000, traded May 12, 2025, filed June 22, 2025
  • Val T. Hoyle(D-OR 4):Purchase, $1,001 - $15,000, traded October 29, 2024, filed September 12, 2025

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around December 10, 2026 estimated from the company's past filing pattern, not announced

  • September 10, 2026
  • May 21, 2026
  • February 19, 2026
  • November 20, 2025
  • September 4, 2025
  • May 22, 2025

Recent SEC filings

Data status

When each part of this page on Copart was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Copart in brief

What does Copart do?
Copart is a US-listed company in the diversified support services industry. Its financial year ends in July.
What is Copart's stock ticker?
Copart trades under the ticker CPRT on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Copart's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Copart reported revenue of $4.7B, 0.4% higher than a year earlier, according to its SEC filings.
What is Copart's free cash flow?
Copart's free-cash-flow margin is 27.2% of revenue over the trailing twelve months, ranking 2 of the 31 diversified support services companies we cover.
What is Copart's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Copart's free cash flow after stock-based pay gives ~$28 per share in the base case, and ~$21–$36 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Copart's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Capital Management LLC and State Street Corp. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Copart's market cap?
On July 31, 2026, Copart's market capitalisation was about $27.9B, with a price-to-earnings ratio of 18.8 and net debt of -$1.9B. Market figures come from third-party market data and may be delayed.
Who are Copart's competitors?
In our Diversified Support Services peer group, the companies closest to Copart are RB Global Inc., Brinks Co, Rentokil Initial PLC, Thomson Reuters Corp and GEO Group Inc. The side-by-side comparison below sets their revenue, margins and growth against Copart's.
Are insiders buying or selling Copart stock?
Over the last 12 months, Copart's directors and officers reported 0 open-market purchases and 8 sales on Form 4. The insider trading page charts every trade.
When is Copart's next earnings date?
Around November 19, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Copart announces its own schedule.