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Copart
(NASDAQ:CPRT)
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Rating:74Outperform
Price Target:
$31.00
▼(-5.11% Downside)
Action:Reiterated
Date:09/15/26
The score is driven primarily by strong financial performance (high profitability and an exceptionally low-leverage balance sheet), supported by a generally positive earnings-call outlook despite near-term volume/cost pressure. Technical indicators are mixed and temper the rating, while valuation appears reasonable but not especially discounted (and no dividend yield support is available).
Positive Factors
Low leverage and liquidity
Extremely low leverage and substantial liquidity give Copart strong financial resilience and flexibility. The company can fund yard expansion, technology investment, and strategic opportunities internally while remaining better positioned to withstand volume volatility or operating cost pressure.
Negative Factors
Declining vehicle volumes
Lower unit volumes directly constrain auction activity and can pressure service revenue, utilization, and operating leverage. Continued declines in global and U.S. units would make revenue growth more dependent on pricing, mix, or ancillary services, increasing execution demands for the core marketplace.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage and liquidity
Extremely low leverage and substantial liquidity give Copart strong financial resilience and flexibility. The company can fund yard expansion, technology investment, and strategic opportunities internally while remaining better positioned to withstand volume volatility or operating cost pressure.
Read all positive factors
Copart Key Performance Indicators (KPIs)
Any
Revenue by Geography
Shows where Copart earns revenue across the U.S. and international markets like the UK, Canada, Brazil and the Middle East, identifying which regions fuel growth and which add risk. Geographic exposure highlights opportunities from expanding foreign operations, as well as sensitivity to local vehicle markets, regulations, and currency swings.
Shows where Copart earns revenue across the U.S. and international markets like the UK, Canada, Brazil and the Middle East, identifying which regions fuel growth and which add risk. Geographic exposure highlights opportunities from expanding foreign operations, as well as sensitivity to local vehicle markets, regulations, and currency swings.
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The Fly
The FlyCopart (CPRT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$25.61B
Dividend YieldN/A
Average Volume (3M)9.29M
Price to Earnings (P/E)17.2
Beta (1Y)0.75
Revenue Growth0.41%
EPS Growth-2.82%
CountryUS
Employees21,000
SectorIndustrials
Sector Strength72
IndustrySpecialty Business Services
Share Statistics
EPS (TTM)1.56
Shares Outstanding926,330,440
10 Day Avg. Volume9,063,024
30 Day Avg. Volume9,293,888
Financial Highlights & Ratios
PEG Ratio-6.01
Price to Book (P/B)3.04
Price to Sales (P/S)5.93
P/FCF Ratio21.82
Enterprise Value/Market Cap0.89
Enterprise Value/Revenue4.88
Enterprise Value/Gross Profit10.92
Enterprise Value/Ebitda11.02
Forecast
1Y Price Target
$37.67Price Target Upside15.29% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)1.63
Revenue Forecast (FY)$4.92B
Copart Business Overview & Revenue Model
Company Description
Copart, Inc. stands as a prominent global provider of online vehicle auctions and comprehensive vehicle remarketing services. The company extends its operations across numerous international markets, including the United States, the United Kingdom...
How the Company Makes Money
Copart makes money primarily by providing vehicle remarketing services and charging fees tied to successful auction transactions, along with service revenue connected to handling and moving vehicles. Key revenue streams include: (1) Transaction an...
Copart Earnings Call Summary
Earnings Call Date:Sep 10, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Nov 18, 2026
Earnings Call Sentiment Positive
The call had a positive strategic and management tone, supported by international growth, higher ASPs, improving non-insurance and dealer activity, strong liquidity, continued technology investment, and the planned ACV acquisition. However, the quarter also featured declines in global and U.S. unit volumes, gross profit, operating income, net income, and increased per-vehicle costs. Overall, the number and scope of stated strategic and operational positives outweighed the financial and volume-related challenges.Positive Updates
International Growth and Profitability
International fourth-quarter revenue grew 11.7% to $222.1 million, driven primarily by service revenue growth of 15%. International gross profit increased 11.8% to $77.6 million, with a 35.0% gross margin, while fiscal-year gross profit increased 12.3% to $301.9 million. International operating income reached $56.8 million, representing a 25.6% operating margin. Total international units sold increased 10% in the quarter, including insurance units up 11.2% and non-insurance units up 6%; international assignments grew 10% and inventory increased 10.4% year over year.
Negative Updates
Decline in Global and U.S. Unit Volumes
Global units sold declined 2.9% year over year in the fourth quarter and 5.5% for fiscal 2026, or 3.1% excluding catastrophe units. U.S. units sold declined 5.7% in the quarter and 6.9% for the fiscal year. Global assignments decreased 2.2% in the quarter, and year-end global inventory was down 1% year over year.
Read all updates
Q4-2026 Updates
Positive
Negative
International Growth and Profitability
International fourth-quarter revenue grew 11.7% to $222.1 million, driven primarily by service revenue growth of 15%. International gross profit increased 11.8% to $77.6 million, with a 35.0% gross margin, while fiscal-year gross profit increased 12.3% to $301.9 million. International operating income reached $56.8 million, representing a 25.6% operating margin. Total international units sold increased 10% in the quarter, including insurance units up 11.2% and non-insurance units up 6%; international assignments grew 10% and inventory increased 10.4% year over year.
Read all positive updates
Company Guidance
Copart expects products and services to come out in the next 4 quarters, believes total loss frequency will continue to go up, expects per car cost to go down through cost reduction and leveraging costs through more units, and expects to close the ACV transaction by the end of the calendar year; the transaction is expected to be breakeven in the current and effectively accretive in the first full year, which will be in FY 28. Management said it does not guide specifically to cost or to any of the metrics on the P and L, does not give guidance on earnings or margins, and never gives guidance on growth, but said it will continue expanding in existing international markets and into new countries, while focusing domestically on whole car and internationally on insurance and salvage.Copart Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
92
Very Positive
Cash Flow
80
Positive
| Breakdown | Jul 2026 | Jul 2025 | Jul 2024 | Jul 2023 | Jul 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 4.67B | 4.65B | 4.24B | 3.87B | 3.50B |
| Gross Profit | 2.08B | 2.10B | 1.91B | 1.74B | 1.61B |
| EBITDA | 2.06B | 2.11B | 1.90B | 1.71B | 1.50B |
| Net Income | 1.48B | 1.55B | 1.36B | 1.24B | 1.09B |
Balance Sheet | |||||
| Total Assets | 10.03B | 10.09B | 8.43B | 6.74B | 5.31B |
| Cash, Cash Equivalents and Short-Term Investments | 4.49B | 4.79B | 3.42B | 2.36B | 1.38B |
| Total Debt | 88.37M | 103.74M | 118.73M | 120.45M | 119.47M |
| Total Liabilities | 913.93M | 883.41M | 879.21M | 750.44M | 683.26M |
| Stockholders Equity | 9.10B | 9.19B | 7.52B | 5.99B | 4.63B |
Cash Flow | |||||
| Free Cash Flow | 1.27B | 1.23B | 961.57M | 847.57M | 839.24M |
| Operating Cash Flow | 1.60B | 1.80B | 1.47B | 1.36B | 1.18B |
| Investing Cash Flow | -877.60M | -587.45M | -940.08M | -1.89B | -442.31M |
| Financing Cash Flow | -1.61B | 52.11M | 19.27M | 66.61M | -382.69M |
Copart Technical Analysis
Negative
32.67
Price Trends
30.43
Negative
30.31
Negative
33.38
Negative
Market Momentum
-1.13
Positive
31.31
Neutral
22.94
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CPRT, the sentiment is Negative. The current price of 32.67 is above the 20-day moving average (MA) of 28.90, above the 50-day MA of 30.43, and below the 200-day MA of 33.38, indicating a bearish trend. The MACD of -1.13 indicates Positive momentum. The RSI at 31.31 is Neutral, neither overbought nor oversold. The STOCH value of 22.94 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CPRT.
Copart Risk Analysis
Copart disclosed 34 risk factors in its most recent earnings report. Copart reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Copart Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $25.61B | 17.19 | 15.93% | ― | 0.41% | -2.82% | |
73 Outperform | $58.40B | 20.40 | 125.53% | 2.69% | 5.77% | 25.08% | |
71 Outperform | $1.74B | 18.86 | 15.04% | 0.69% | 12.36% | -28.24% | |
69 Neutral | $3.04B | 7.10 | 14.60% | 7.28% | 11.04% | 15.45% | |
66 Neutral | $13.78B | 27.24 | 37.55% | 0.83% | 6.61% | 53.23% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
53 Neutral | $1.80B | -10.99 | -5.55% | ― | ― | ― |
* Industrials Sector Average
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Copart Corporate Events
Business Operations and StrategyM&A Transactions
Copart to Acquire ACV, Expanding Digital Remarketing Platform
Positive
Sep 10, 2026
On September 10, 2026, Copart and ACV announced a definitive agreement under which Copart will acquire all outstanding ACV shares via a cash tender offer at $10.50 per share, implying an equity value of about $1.9 billion and a roughly 45% premium...
Business Operations and StrategyExecutive/Board Changes
Copart strengthens governance with new board appointment
Positive
Aug 18, 2026
On August 13, 2026, Copart’s Board of Directors appointed David J. Berger, a senior partner at Wilson Sonsini Goodrich Rosati, to its board, with an initial term running until the company’s 2026 annual meeting of stockholders. Berger,...
Business Operations and StrategyExecutive/Board Changes
Copart Promotes Jane Pocock to Company President
Positive
Jul 8, 2026
On July 8, 2026, Copart, Inc. announced the promotion of Jane Pocock, currently CEO of its U.K. operations, to President of the company, effective August 1, 2026, filling a previously vacant role. Pocock, who joined Copart in 2019 as Managing Dire...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.