Explain this page
Arphra AIPlain-English read on Copart, Inc.’s valuationRatios & metrics
Profitability, returns on capital, growth, and credit — all derived from the historical income statement, balance sheet, and cash flow rows in our data warehouse.
Quality composite
A+Top tier
A snapshot of the latest fiscal year’s margins, returns on capital, balance-sheet strength and efficiency, computed from the income statement, balance sheet and cash-flow rows. Source income / balance / cash_flow.
Profitability
Gross margin45.2%
Operating margin36.5%
Net margin33.4%
ROE16.9%
ROA15.4%
ROIC21.2%
Liquidity & leverage
Current ratio8.25×
Quick ratio8.19×
Debt / equity0.01×
Net debt / EBITDA-1.27×
Interest coverage—
Efficiency & per-share
Asset turnover0.46×
Inventory days6
Days sales out.60
FCF / share$1.26
Book value / share$9.42
Valuation multiples
Price- and EV-based multiples plus shareholder yields. Snapshot at each fiscal year-end from key_metrics (FMP).
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Headline | ||||||||
| Market cap | — | — | — | $50.28B | $43.76B | — | — | — |
| Enterprise value | — | — | — | $48.88B | $41.08B | — | — | — |
| Multiples | ||||||||
| P / E | — | — | — | — | — | — | — | — |
| P / B | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — |
| EV / Sales | — | — | — | 11.54 | 8.84 | — | — | — |
| EV / FCF | — | — | — | 50.83 | 33.38 | — | — | — |
| Yields | ||||||||
| Earnings yield | — | — | — | +2.71% | +3.55% | — | — | — |
| Free cash flow yield | — | — | — | +1.91% | +2.81% | — | — | — |
| Dividend yield | — | — | — | — | — | — | — | — |
Profitability
Margin structure across the last 5 fiscal years
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin | +49.88% | +45.88% | +44.89% | +45.02% | +45.18% | +46.14% | +44.91% | +46.25% |
| Operating margin | +42.21% | +39.28% | +38.42% | +37.10% | +36.51% | +37.04% | +36.43% | +36.26% |
| EBITDA margin | +46.78% | +43.23% | +42.54% | +41.59% | +45.44% | +43.24% | +42.57% | +43.63% |
| EBIT margin | +42.42% | +39.28% | +38.42% | +37.10% | +40.79% | +39.15% | +37.75% | +37.69% |
| Pre-tax margin | +41.67% | +38.30% | +40.17% | +40.47% | +40.79% | +41.19% | +39.85% | +39.87% |
| Net margin | +34.78% | +31.14% | +31.99% | +32.17% | +33.41% | +31.98% | +32.92% | +32.50% |
| Cost structure | ||||||||
| Cost of revenue / sales | +50.12% | +54.12% | +55.11% | +54.98% | +54.82% | +56.00% | +56.50% | +54.51% |
| R&D intensity | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| SG&A intensity | +7.68% | +6.60% | +6.47% | +7.91% | +7.51% | +7.31% | +7.43% | +7.41% |
| Effective tax rate | +16.52% | +18.70% | +20.37% | +20.54% | +18.32% | +19.11% | +19.61% | +19.76% |
Returns on capital
ROE / ROA / ROC / ROIC over the relevant capital base, plus the 3-step DuPont decomposition of ROE.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Returns | ||||||||
| Return on equity (ROE) | +26.54% | +23.57% | +20.67% | +18.06% | +16.86% | +17.80% | +19.00% | +18.22% |
| Return on assets (ROA) | +20.53% | +20.53% | +18.37% | +16.17% | +15.38% | +16.55% | +17.00% | +16.44% |
| Return on capital (ROC) | +28.08% | +28.98% | +24.34% | +20.50% | +18.22% | +20.32% | +20.71% | +20.02% |
| Return on invested capital (ROIC) | +23.14% | +22.97% | +20.26% | +17.78% | +16.67% | +17.55% | +18.71% | +17.94% |
| Asset turnover | +59.02% | +65.94% | +57.43% | +50.27% | +46.05% | +51.75% | +51.65% | +50.59% |
| DuPont · ROE decomposition | ||||||||
| Net margin | +34.78% | +31.14% | +31.99% | +32.17% | +33.41% | +31.98% | +32.92% | +32.50% |
| Asset turnover (× revenue / assets) | +59.02% | +65.94% | +57.43% | +50.27% | +46.05% | +51.75% | +51.65% | +50.59% |
| Equity multiplier (× assets / equity) | +129.27% | +114.77% | +112.53% | +111.65% | +109.59% | +107.57% | +111.74% | +110.82% |
Activity & efficiency
Turnover ratios and days-outstanding — how efficiently the business converts assets and working capital into sales and cash.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Turnover | ||||||||
| Asset turnover | 0.59 | 0.66 | 0.57 | 0.50 | 0.46 | 0.52 | 0.52 | 0.51 |
| Fixed-asset turnover | 1.11 | 1.35 | 1.31 | 1.29 | 1.26 | — | — | — |
| Inventory turnover | 30.01 | 32.23 | 53.35 | 53.38 | 64.23 | — | — | — |
| Receivables turnover | 5.38 | 5.57 | 5.46 | 5.39 | 6.09 | — | — | — |
| Payables turnover | 8.27 | 10.12 | 11.85 | 12.05 | 11.88 | — | — | — |
| Days outstanding | ||||||||
| Days sales outstanding (DSO) | 67.87 | 65.52 | 66.84 | 67.70 | 59.96 | — | — | — |
| Days inventory outstanding (DIO) | 12.16 | 11.33 | 6.84 | 6.84 | 5.68 | — | — | — |
| Days payables outstanding (DPO) | 44.15 | 36.06 | 30.81 | 30.29 | 30.72 | — | — | — |
| Cash conversion cycle | 35.88 | 40.79 | 42.87 | 44.25 | 34.92 | — | — | — |
Cash flow quality
How well reported earnings translate into operating and free cash flow, plus reinvestment intensity.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Operating CF / Net income | 1.06 | 1.08 | 1.10 | 1.08 | 1.16 | 1.15 | 1.10 | 1.12 |
| FCF / Net income | 0.56 | 0.77 | 0.68 | 0.71 | 0.79 | 0.76 | 0.71 | 0.71 |
| FCF margin | +19.61% | +23.97% | +21.90% | +22.70% | +26.49% | +24.39% | +23.53% | +23.20% |
| OCF margin | +36.80% | +33.61% | +35.26% | +34.76% | +38.73% | +36.63% | +36.08% | +36.42% |
| CapEx / Revenue | +17.20% | +9.64% | +13.35% | +12.06% | +12.24% | +12.18% | +12.77% | +12.26% |
| CapEx / D&A | 3.76 | 2.43 | 3.24 | 2.69 | 2.64 | — | — | — |
| Stock-based comp / Revenue | +1.52% | +1.11% | +1.03% | +0.83% | +0.82% | — | — | — |
Per-share & shareholder yield
EPS, book value, sales, cash flow and dividends per share — plus payout / retention.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| EPS · diluted | 0.97 | 1.13 | 1.28 | 1.40 | 1.59 | 1.58 | 1.67 | 1.72 |
| EPS · basic | 0.99 | 1.15 | 1.30 | 1.42 | 1.61 | 1.58 | 1.69 | 1.73 |
| Book value / share | 3.67 | 4.80 | 6.19 | 7.74 | 9.42 | 8.49 | 8.60 | 9.43 |
| Tangible BV / share | 3.25 | 4.32 | 5.72 | 7.14 | 8.82 | 8.49 | 8.60 | 9.43 |
| Sales / share | 2.80 | 3.63 | 4.00 | 4.35 | 4.75 | 4.73 | 4.96 | 5.29 |
| Operating CF / share | 1.03 | 1.22 | 1.41 | 1.51 | 1.84 | 1.73 | 1.79 | 1.93 |
| Free cash flow / share | 0.55 | 0.87 | 0.88 | 0.99 | 1.26 | 1.15 | 1.17 | 1.23 |
| Dividends / share | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Payout ratio | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Retention ratio | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% |
Growth
Year-over-year change for headline P&L lines, plus through-cycle CAGR
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 7y CAGR |
|---|---|---|---|---|---|---|---|---|---|
| Top-line | |||||||||
| Revenue · YoY | — | +30.02% | +10.53% | +9.49% | +9.68% | +0.26% | +3.65% | +6.09% | +9.62% |
| Gross profit · YoY | — | +19.59% | +8.14% | +9.80% | +10.09% | +2.37% | +0.90% | +9.25% | +8.45% |
| Profit | |||||||||
| Operating income · YoY | — | +20.99% | +8.11% | +5.75% | +7.93% | +1.70% | +1.96% | +5.59% | +7.27% |
| EBITDA · YoY | — | +20.17% | +8.76% | +7.05% | +19.81% | -4.58% | +2.05% | +8.71% | +8.54% |
| Net income · YoY | — | +16.41% | +13.54% | +10.12% | +13.90% | -4.01% | +6.67% | +4.74% | +8.57% |
| Operating | |||||||||
| EBIT · YoY | — | +20.39% | +8.11% | +5.75% | +20.58% | -3.78% | -0.06% | +5.93% | +7.79% |
| R&D · YoY | — | — | — | — | — | — | — | — | — |
| Per-share | |||||||||
| EPS · diluted · YoY | — | +16.49% | +13.27% | +9.37% | +13.57% | -0.31% | +5.56% | +2.60% | +8.50% |
| EPS · basic · YoY | — | +16.16% | +13.04% | +9.23% | +13.38% | -1.65% | +6.63% | +2.45% | +8.30% |
Credit & leverage
Balance-sheet health + interest coverage + liquidity. Coverage ratios use period-end debt and trailing interest expense.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Leverage | ||||||||
| Total debt | $518.07M | $119.47M | $120.45M | $118.73M | $103.74M | $123.02M | $130.36M | $141.67M |
| Net debt | -$530.19M | -$1.26B | -$836.94M | -$1.4B | -$2.68B | -$1.77B | -$1.78B | -$1.95B |
| Net debt / EBITDA | -0.42 | -0.84 | -0.51 | -0.79 | -1.27 | -0.88 | -0.87 | -0.87 |
| Debt / equity | 0.15 | 0.03 | 0.02 | 0.02 | 0.01 | 0.01 | 0.02 | 0.02 |
| Debt / assets | +11.36% | +2.25% | +1.79% | +1.41% | +1.03% | +1.37% | +1.39% | +1.40% |
| Equity / assets | +77.36% | +87.13% | +88.86% | +89.57% | +91.25% | +92.96% | +89.49% | +90.24% |
| Coverage | ||||||||
| EBITDA / interest expense | 62.21 | 90.70 | — | — | — | — | — | — |
| Operating income / interest | 56.13 | 82.39 | — | — | — | — | — | — |
| Interest expense | $20.25M | $16.69M | $0 | $0 | $0 | $0 | $0 | $0 |
| Liquidity | ||||||||
| Current ratio | 4.04 | 5.00 | 6.62 | 7.03 | 8.25 | — | — | — |
| Quick ratio | 3.68 | 4.57 | 6.24 | 6.69 | 8.13 | — | — | — |
| Cash ratio | 2.49 | 3.14 | 1.94 | 2.41 | 4.07 | — | — | — |
| Working capital | $1.28B | $1.76B | $2.77B | $3.79B | $4.96B | — | — | — |
| Working capital / revenue | +47.60% | +50.32% | +71.58% | +89.44% | +106.63% | — | — | — |
Sourced from key_metrics + financial_ratios (loaded by load_fundamentals_extended.py).
Valuation
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| P / E | — | — |
| P / B | — | — |
| EV / EBITDA | — | — |
| EV / Sales | 8.84x | 11.54x |
| Earnings yield | 3.5% | 2.7% |
| FCF yield | 2.8% | 1.9% |
Returns
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| Gross margin | — | — |
| Operating margin | — | — |
| Net margin | — | — |
| ROE | 16.9% | 18.1% |
| ROA | 15.4% | 16.2% |
| ROIC | 14.7% | 16.0% |
Leverage & liquidity
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| Debt / equity | — | — |
| Net debt / EBITDA | -1.27 | -0.79 |
| Interest coverage | — | — |
| Current ratio | 8.25x | 7.03x |
| Quick ratio | — | — |
Methodology. ROE / ROA / ROC use period-end balance-sheet denominators (no average-of- period smoothing). ROIC = Operating Income × (1 − inferred effective tax rate) over invested capital, with the effective tax inferred from net-to-operating income when both are positive and a 25% default otherwise. Net debt / EBITDA, debt ratios, and interest-coverage ratios are calculated point-in-time at each fiscal year-end. TTM = trailing 4 quarters (income / cash flow summed, balance sheet = most-recent quarterly snapshot). Through-cycle CAGR in the Growth panel uses the geometric mean of first-to-last period growth across the window (positive values only).