Want to see CPRT full AI Analyst Report?
Operating Expense Breakdown
Details core costs such as yard operations and logistics, employee wages, technology and platform development, marketing, and depreciation to show how efficiently Copart converts revenue into profit. Monitoring expense trends reveals whether investment in technology and expansion is improving long-term margins or if rising fixed costs could pressure earnings in a downturn.Yard operations are the clear cost driver while G&A has surged recently — a signal Copart is building fixed capacity (yards, tow network, land) and investing in people/technology even as unit volumes soften. Management’s commentary ties the G&A uplift to scaled AI/engineering hires and capacity investments meant to shorten cycle times and capture higher ASPs. For investors, this is a deliberate tradeoff: expect near‑term margin pressure from higher operating spend, but potential durable margin upside if AI and faster turn times convert into higher realized ASPs and lower per-unit yard costs.
Date | General and Administrative | Yard Operations | Cost of Vehicle Sales |
|---|---|---|---|
Mar 31, 2026 | $108.32M | $504.19M | $160.28M |
Dec 31, 2025 | $104.10M | $427.52M | $150.43M |
Sep 30, 2025 | $106.30M | $476.49M | $141.54M |
Jun 30, 2025 | $83.90M | $418.50M | $147.40M |
Mar 31, 2025 | $100.72M | $439.42M | $169.71M |
Dec 31, 2024 | $99.34M | $439.27M | $147.71M |
Sep 30, 2024 | $91.00M | $447.25M | $138.18M |
Jun 30, 2024 | $81.38M | $407.04M | $161.89M |
Mar 31, 2024 | $88.30M | $391.26M | $162.88M |
Dec 31, 2023 | $72.66M | $366.34M | $146.82M |