COPART INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data COPART INC files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	1,268	1,448	1,806	2,042	2,206	2,693	3,501	3,870	4,237	4,647
Cost of revenue	141	138	196	256
Gross profit	1,127	1,310	1,609	1,786
General and administrative	138	151	177	182	192	207	231	250	335	403
Operating income	406	461	584	716	816	1,136	1,375	1,487	1,572	1,697
Interest expense	23.6	23.8	20.4	19.8	20.2
Interest income	1.45	1.41	1.29	2.23	1.36
Other non-operating income	-10.6	-21.2	-21.8	-11.5	-15.3	-14.6	-34	67.8	143	199
Pre-tax income	396	440	563	705	801	1,122	1,341	1,554	1,715	1,896
Income tax	126	45.8	145	113	101	185	251	317	352	347
Net income to minority interests	0	0.03	0.14	0	0		0	0	-0.67	-4.09
Net income	270	394	418	592	700	936	1,090	1,238	1,363	1,552
EBITDA	455	518	663	801	917	1,258	1,513	1,646	1,762	1,913
EPS, basic	0.29	0.43	0.45	0.64	0.75	0.99	1.15	1.30	1.42	1.61
EPS, diluted	0.28	0.41	0.43	0.61	0.73	0.97	1.13	1.28	1.40	1.59
Shares, basic (weighted)	920	919	932	927	938	945	950	954	961	965
Shares, diluted (weighted)	982	953	972	967	960	961	965	967	975	978

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	156	210	275	186	478	1,048	1,384	957	1,514	2,781
Receivables	266	312	352	367	350	481	579	702	786	763
Inventory	10.4	10.2	16.7	20.9	20.1	45	58.8	40	43.6	39.7
Other current assets	18	17.6	16.7	16.6	15.3	14.3	18.7	26.3	33.9	46.4
Total current assets	499	587	709	687	964	1,703	2,202	3,263	4,418	5,755
Property, plant and equipment	817	944	1,163	1,428	1,942	2,297	2,486	2,844	3,176	3,598
Lease right-of-use assets				0	118	119	116	108	116	99.7
Goodwill	260	340	337	333	344	356	402	394	514	518
Intangible assets	11.8	75.9	64.9	55.2	47.8	45.9	54.7	62.7	74.1	62.8
Other non-current assets	38.3	33.7	32.6	43.8	39.9	41.8	47.7	65.8	129	57.9
Total assets	1,650	1,983	2,308	2,548	3,455	4,562	5,309	6,738	8,428	10,091
Accounts payable	30.1	20.6	65.1	45.5	40.9	39.6	54.9	36.3	23.9	29.7
Deferred revenue	4.63	5.02	4.49	6.47	8.23	21	20.1	26.1	28.1	30.4
Short-term debt	76.2	82.2	1.15	1.14	0.75
Total current liabilities	279	302	277	282	356	421	441	493	629	683
Long-term debt	564	551	399	400	397	398	2	10.9	0
Lease liabilities				0	95.6	97.9	95.7	88.1	97.4	81.2
Other non-current liabilities	2.78	3.1	3.59	3.34	0.43
Total liabilities	875	884	727	769	966	1,033	683	750	879	883
Total debt	638	631	400	400	400	400	0	11	0
Paid-in capital	392	453	527	573	673	762	839	939	1,121	1,214
Retained earnings	491	745	1,162	1,338	1,938	2,868	3,956	5,189	6,546	8,093
Other comprehensive income	-109	-101	-108	-133	-121	-101	-169	-141	-143	-120
Shareholders' equity	774	1,099	1,581	1,778	2,490	3,529	4,626	5,987
Minority interests	0	0.53	0
Total equity	774	1,099	1,581	1,778	2,490	3,529	4,626	5,987	7,524	9,187
Total liabilities and equity	1,650	1,983	2,308	2,548	3,455	4,562	5,309	6,738	8,428	10,091
Shares outstanding	886	927	940	924	946	237	952	957	963	967

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	270	394	418	592	700	936	1,090	1,238	1,362	1,548
Depreciation and amortization	48.6	57	78.6	84.9	101	122	138	159	190	216
Stock-based compensation	20.9	20.8	23.2	23.4	23.3	40.9	39	39.7	35.2	38
Deferred income tax	5.74	19.9	16.7	23.2	23.1	-7.95	17	9.95	-0.85	-13.4
Change in receivables	-54.2	-38.5	-40.3	-60.8	16	-128	-97.8	-123	-145	-34
Change in inventory	-2.51	1.29	-3.96	-4.72	1.35	-24.6	-10.9	26.5	-3.7	4.66
Change in payables	48.3	4.27	53.3	11.1	41.6	44.6	36.3	18	59.5	69.6
Cash from operations	332	492	535	647	918	991	1,177	1,364	1,473	1,800
Capital expenditures	-174	-172	-288	-374	-592	-463	-337	-517	-511	-569
Acquisitions	0	-161	-8.79	-0.75	-11.7	-5	-107	0		-1.22
Sales and maturities of investments	21.5
Cash from investing	-173	-336	-288	-356	-601	-465	-442	-1,892	-940	-587
Debt issued	93.5	0	0
Debt repaid	-338	0	0		0	0	-417	0	0
Stock issued	13.2	31.2	44.5	34.4	71.6	39	28.1	49.7	24.3	42.8
Share buybacks	-443	0	0	-365	0	0
Cash from financing	-448	-107	-182	-370	-27.4	40.9	-383	66.6	19.3	52.1
Exchange rate effect					2.14	4.2	-15.7	34.4	4.96	2.01
Net change in cash	-300	54.3	64.4	-88.2	291	571	336	-427	557	1,266
Free cash flow	159	320	247	273	326	528	839	848	962	1,231
Interest paid	23.6	23.2	20.3	19.3	19.7	19.7	18.5	2.61	3.13	2.02
Income taxes paid	128	14	142	82.4	83.8	178	263	258	286	409

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to April 30, 2026; growth uses fiscal years. Valuation uses the share price of $27.59 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	36.6%	Operating income / revenue.
EBITDA margin	40.3%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	41.1%	Pre-tax income / revenue.
Net margin	33.5%	Net income / revenue.
FCF margin	28.9%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	36.3%	Cash from operations / revenue.
Effective tax rate	18.9%	Income tax / pre-tax income, when pre-tax income is positive.
Return on assets (ROA)	16.1%	Net income / average total assets.
Stock-based pay / revenue	0.8%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	7.5%	Capital expenditures / revenue.
D&A / revenue	3.8%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	9.7%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	9.9%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	16.1%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	7.9%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	7.3%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	15.8%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	8.6%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	8.1%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	15.8%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	13.9%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	12.5%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	17.3%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	13.6%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	12.1%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	16.9%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	22.2%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	15.2%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	14.4%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	28.0%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	13.6%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	30.4%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	19.7%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	23.9%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	23.9%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	0.3%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	0.4%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	0.4%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	7.61x	Current assets / current liabilities.
Quick ratio	6.05x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	4.89x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	8.9%	Total liabilities / total assets.
Working capital	$4.53B	Current assets - current liabilities.
Goodwill and intangibles / assets	6.0%	(Goodwill + intangible assets) / total assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.48x	Revenue / average total assets.
Fixed asset turnover	1.25x	Revenue / average property, plant and equipment.
Receivables turnover	5.84x	Revenue / average receivables.
Days sales outstanding	63 days	365 x average receivables / revenue.
FCF conversion	86.2%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	20.5%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$1.65	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$4.92	Revenue / diluted weighted shares.
FCF per share	$1.42	Free cash flow / diluted weighted shares.
Operating cash flow per share	$1.79	Cash from operations / diluted weighted shares.
Cash per share	$3.62	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$25.54B	Share price x shares outstanding.
Enterprise value	$22.19B	Market cap + total debt - cash - short-term investments.
P/E	16.4x	Market cap / net income. Only when net income is positive.
P/S	5.51x	Market cap / revenue.
P/FCF	19.1x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	15.2x	Market cap / cash from operations, when positive.
EV/Sales	4.78x	Enterprise value / revenue.
EV/EBIT	13.1x	Enterprise value / operating income, when both are positive.
EV/EBITDA	11.9x	Enterprise value / EBITDA, when both are positive.
EV/FCF	16.6x	Enterprise value / free cash flow, when both are positive.
FCF yield	5.2%	Free cash flow / market cap.
Earnings yield	6.1%	Net income / market cap (the inverse of P/E).
PEG	1.36x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was COPART INC's revenue in fiscal 2025?

COPART INC reported revenue of $4.65B for fiscal 2025, 9.7% higher than the year before.

Was COPART INC profitable in fiscal 2025?

Yes. Net income was $1.55B, a net margin of 33.4%.

How much free cash flow did COPART INC generate in fiscal 2025?

Cash from operations of $1.80B minus capital expenditures of $569.0M left free cash flow of $1.23B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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