# Copart Inc (CPRT) — Stock CV

Copart Inc is a $25.3B consumer company. Revenue grew 0.4% over the last year, it keeps 32¢ of every dollar of sales as profit, and it holds more cash than debt. It trades at 17.1× earnings — near the lowest of its own history.

> Based in Dallas, Copart operates a global online salvage vehicle auction with operations in 11 countries across North America, Europe, and the Middle East, facilitating over 4 million transactions annually.

## Identity

- **Ticker**: CPRT
- **Sector**: Consumer Cyclical
- **Industry**: Retail-Auto Dealers & Gasoline Stations
- **Headquarters**: DALLAS, TX
- **Employees**: 11 600
- **Website**: https://www.copart.com
- **Market cap**: $25.3B
- **Last price**: $27.32
- **Financial profile**: Strong

## Vitals (TTM)

- **Revenue**: $4.67B
- **Net income**: $1.48B
- **Free cash flow**: $1.27B
- **Net cash**: $4.40B
- **P/E**: 17.1
- **Revenue growth (YoY)**: 0.4%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 77 |
| Growth | 36 |
| Profitability | 95 |
| Health | 100 |
| Quality | 87 |
| Moat | 95 |

## Qualifications (beginner checklist) — 10 of 10 passed

- [x] Revenue growing — +0.4% YoY
- [x] Profitable — $1.48B TTM
- [x] Profit growing — +6.6% YoY
- [x] Generates cash — $1.27B TTM
- [x] Debt under control — more cash than debt
- [x] Established company — $25.3B market cap
- [x] Not printing shares — -0.4% shares over ~5y
- [x] Proven track record — 11/11 profitable years
- [x] Financially stable — Altman Z 19.9 — safe
- [x] Valuation not extreme — P/E 17.1

## Experience (career milestones)

- **FY2025** — Best year on record: $1.55B net income
- **2018** — Copart also expanded into Finland in 2018 with the acquisition of Autovahinkokeskus (AVK)
- **2018** — Additionally, the CashForCars.com brand launched in Canada in 2018, Germany in 2019 and the United Kingdom in 2020
- **2017** — Copart has continued to acquire businesses, including National Powersport Auctions (NPA) in 2017
- **FY2016** — Profitable every year on record: 11 consecutive profitable years in our data
- **FY2016** — Revenue already above $1B: $1.27B in first reported year
- **FY2016** — Positive free cash flow every year since: 11-year streak
- **2003** — The company grew to 100 locations across the country and became the first to launch a completely online…
- **1997** — The first main step in this process was the creation of the Copart Auction System (CAS) in 1997
- **1995** — Copart began rapid expansion in the United States with the sizable acquisition of NER Auction Group,…
- **1994** — By the early '90s, the company had grown to four locations in northern California
- **Mar 17, 1994** — Copart had its initial public offering (IPO) at $12 per share and debuted on the NASDAQ under the…
- **1982** — Copart was founded in 1982 by then 34-year-old Willis J

## Strengths

- High gross margin (44.7%)
- Strongly profitable — 31.8% net margin
- Strong cash conversion — FCF is 27.2% of revenue
- Net cash position after subtracting debt from cash
- Interest covered 81.4× by operating earnings

## Watch-outs

- None stand out in the data.

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2022 | $3.50B | $1.09B | $839M |
| FY2023 | $3.87B | $1.24B | $848M |
| FY2024 | $4.24B | $1.36B | $962M |
| FY2025 | $4.65B | $1.55B | $1.23B |
| FY2026 | $4.67B | $1.48B | $1.27B |

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Source: https://stockcv.com/CPRT — derived from company filings; may be delayed or incomplete. Information, not investment advice.