Copart Inc (CPRT)
🔔 Watch stock
symbol.quality_heading
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
The substance is beyond doubt: a duopoly market position with owned land, a 36.5 percent operating margin, $1,230.8 million of free cash flow in fiscal 2025, $4.2 billion of liquidity and zero bank debt (April 30, 2026) — no trace of substance risk, hence no red. What blocks green is one essential open operating question: 81 percent of vehicles come from a single industry, the annual report itself warns of dependence on a few major sellers, and while revenue stagnates for the first time in more than a decade, key client Progressive is — per industry reports — shifting volume to the only real competitor. Add the abrupt CEO change effective July 31, 2026 and the ongoing DOJ investigation. Only when U.S. volume turns is the moat proven again rather than asserted. The decision is yours.
symbol.quality_note
Copart auctions what auto insurers write off — a duopoly business with a 36 percent operating margin, $4.2 billion of liquidity and zero bank debt (April 30, 2026). But for the first time in more than a decade, revenue has stopped growing (first nine months of fiscal 2026: down 0.2 percent), U.S. volumes are falling, industry reports say key client Progressive is increasingly unloading at rival IAA, and the CEO leaves at fiscal year-end. The company's answer: $1,632.5 million of share buybacks in nine months — after three years of none. Not investment advice — just the question of whether a cycle is sagging here or a moat is leaking.
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Stock Watch
This analysis is as of July 27, 2026. Stock Watch will tell you what's changed at CPRT since then.
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Appears in These Scanners
This stock currently matches 7 of our scanner strategies — each hit links to the scanner.
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Trading Day
Key levels of the most recently completed trading day — not a live quote.
52-Week Range
Current price 29.10 $ — 8% of the range above the low.
Lowest and highest closing price over the last 52 weeks. The marker shows where the current price sits within that range: close to the high speaks for strength, close to the low for weakness.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 08/03/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
AI Rating
Uses AICopart setzt eigene Machine-Learning-Produkte im Kerngeschäft ein (Co.ai zur Totalschaden-Bewertung, IntelliSeller zur Auktionssteuerung), weist aber keine eigenständige KI-Umsatzquelle aus — KI verstärkt den Auktionsservice, wird nicht als Produkt verkauft.
View the full file — quotes, sources, reviewed filings
„Salvage Estimation Services — We offer Co.ai, a proprietary suite of total loss determination and valuation tools that leverage machine learning and computer vision to assist sellers in the vehicle claims evaluation process by providing online salvage value estimates, which helps sellers determine whether to repair a vehicle or deem it a total loss."
Restwert-Schätzdienste — Wir bieten Co.ai an, eine proprietäre Suite von Werkzeugen zur Totalschaden-Feststellung und -Bewertung, die maschinelles Lernen und Computer Vision nutzt, um Einlieferer im Schadenbewertungsprozess mit Online-Restwertschätzungen zu unterstützen — das hilft Einlieferern zu entscheiden, ob ein Fahrzeug repariert oder als Totalschaden abgeschrieben wird.
„Using machine learning, IntelliSeller optimizes the utilization of our vehicle and sales data to determine when to establish minimum bid values and suggest when to re-auction a unit to ensure optimal returns while minimizing cycle time."
Mit maschinellem Lernen optimiert IntelliSeller die Nutzung unserer Fahrzeug- und Verkaufsdaten, um zu bestimmen, wann Mindestgebote gesetzt werden, und um vorzuschlagen, wann ein Fahrzeug erneut versteigert wird — für optimale Erlöse bei möglichst kurzer Durchlaufzeit.
„We continue to evaluate emerging technologies like artificial intelligence, machine learning, and generative artificial intelligence for incorporation into our business to augment our products and services."
Wir prüfen weiterhin neue Technologien wie künstliche Intelligenz, maschinelles Lernen und generative künstliche Intelligenz für die Einbindung in unser Geschäft, um unsere Produkte und Dienste zu erweitern.
Filings Reviewed: 10-Q 2026-05-29 · 10-Q 2026-03-03 · 10-Q 2025-11-24 · 10-K 2025-09-26 · 10-Q 2025-06-03 · 10-K 2024-09-30
Rated on July 27, 2026 · How the Rating Is Built
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Analysts & Price Target
The price target sits 38.5% above the current price.
- Consensus
- Sell
- Analyst Ratings
- 11
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 07/31/2027 | 1.68 | 1.55 – 1.78 | 4,827 | 6.2% | 13 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Next Reporting Date
- Expected Earnings per Share
- 0.39 $
Expected date of the next quarterly or annual figures. Dates do shift occasionally — only the invitation issued by the company is binding.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
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· Total · per year
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The figures could not be loaded right now.
Source: fundamental data
Quarterly Figures
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2025: Q1 | 0.40 | 18.60 | 1,163 | 14.00 | 33.30 | 178 | 62 |
| 2025: Q2 | 0.42 | 6.20 | 1,212 | 7.50 | 33.60 | 701 | 573 |
| 2025: Q3 | 0.41 | 22.70 | 1,125 | 5.20 | 35.20 | 439 | 351 |
| 2025: Q4 | 0.41 | 11.40 | 1,155 | 0.70 | 35.00 | 535 | 427 |
| 2026: Q1 | 0.36 | -9.30 | 1,122 | -3.60 | 31.30 | 128 | 58 |
| 2026: Q2 | 0.42 | 0.30 | 1,237 | 2.10 | 32.50 | 584 | 503 |
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Annual Figures
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 1,268 | 406 | 270 | 0.28 | 333 | 774 | 1,650 |
| 2017 | 1,448 | 461 | 394 | 0.42 | 492 | 1,098 | 1,983 |
| 2018 | 1,806 | 584 | 418 | 0.43 | 535 | 1,581 | 2,308 |
| 2019 | 2,042 | 716 | 592 | 0.62 | 647 | 1,778 | 2,548 |
| 2020 | 2,206 | 816 | 700 | 0.73 | 915 | 2,490 | 3,455 |
| 2021 | 2,693 | 1,136 | 937 | 0.97 | 991 | 3,529 | 4,562 |
| 2022 | 3,501 | 1,375 | 1,090 | 1.13 | 1,177 | 4,626 | 5,309 |
| 2023 | 3,870 | 1,487 | 1,238 | 1.28 | 1,364 | 5,987 | 6,738 |
| 2024 | 4,237 | 1,572 | 1,363 | 1.40 | 1,473 | 7,524 | 8,428 |
| 2025 | 4,647 | 1,697 | 1,552 | 1.59 | 1,800 | 9,187 | 10,091 |
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Assessment: Opportunities & Risks
A duopoly with network effects and land ownership: about 4 million vehicles sold in twelve months (as of May 2026) versus about 2.5 million at sole major rival IAA, 1 million registered bidders in over 185 countries, 281 company facilities, real estate at a book value of $2,394.6 million (July 31, 2025). The structural tailwind — a record total-loss rate of roughly 23 percent in 2025 (CCC) — is intact.
Fortress balance sheet and world-class margins: $4,199.7 million of liquidity with zero bank and bond debt, a 91 percent equity ratio (April 30, 2026); a 36.5 percent operating margin and $1,230.8 million of free cash flow in fiscal 2025.
No growth for the first time in more than a decade: revenue down 0.2 percent to $3,513.8 million after nine months of fiscal 2026, U.S. service revenue down 2.1 percent; analyst consensus puts the full year at $4,644.8 million, just below the prior year (data as of July 26, 2026). Only international grows double-digit (up 14.1 percent in Q3).
81 percent of vehicles come from insurers (fiscal 2025), the annual report's first risk factor warns of dependence on a few major vehicle sellers — and industry reports (December 2025) estimate Progressive now routes about 90 percent of its total-loss volume to rival IAA. The insurance cycle (insured car years down 4 percent per management) adds pressure.
CEO Jeff Liaw leaves effective July 31, 2026 in mid-crash — with a generous transition package; returning CEO Jay Adair (CEO 2010–2022, son-in-law of the founder) stands for continuity of the founding family, which holds over 10 percent of the shares. At the same time, after three zero years management repurchased $1,632.5 million of stock in nine months — but paused entirely in April 2026. A DOJ money-laundering investigation has been running since October 2023, outcome open.
Copart is the test case for the halo effect: a demonstrably outstanding business — duopoly, 36.5 percent operating margin, $4.2 billion of liquidity with no bank debt — in its deepest drawdown in more than 20 years (down 56 percent from the high, as of July 24, 2026). The headwinds are real: the first year without revenue growth in over a decade, falling U.S. volume in the insurance cycle, the Progressive shift toward IAA, and an abrupt CEO change. Management has bet $1,632.5 million of buybacks in nine months on "cyclical"; whether it is right will start to show with the annual report in September 2026. Not investment advice.
- Hook: market observation of the crash — a string of new 52-week lows in July 2026 (most recently $26.81 on July 23, 2026), drawdown calculated from the adjusted price history since 2000 (fundamental data, as of July 24, 2026). No scanner hit claimed as the source.
- The Progressive/IAA shift comes from industry reports (Transportation Today December 15, 2025, In Practise interview June 2025, RB Global earnings calls) — Copart names no customers in any filing; documented in the filings are only the U.S. volume decline and the seller-dependence risk factor. The figure "insured car years down 4 percent" quoted in the text comes from the earnings call transcript (May 2026), not from an SEC filing.
- Data status: the 10-Q as of April 30, 2026 (filed May 29, 2026) fully reviewed as the most recent periodic report; all filings after it checked (8-K of June 29 and July 8, 2026, Form 4/144 in July 2026 — no 424B*, S-3, SC 13D, Form 25/15). Share count of 925,811,482 from the 10-Q cover page (May 27, 2026); metrics data as of July 26, 2026, prices through July 24, 2026. Analyses are evergreen; daily prices are not a buy argument.
- Do not confuse: Copart (CPRT, online auctions for wrecked vehicles) is not CarParts.com (PRTS, an auto-parts retailer) and not rival IAA (part of RB Global, ticker RBA). The fiscal year ends July 31 — "fiscal 2026" essentially covers August 2025 through July 2026.
- The rating light in this analysis judges the company, not the entry point.
About the Company
Copart, Inc. bietet Online-Auktionen und Fahrzeugvermarktungsdienste in den USA, dem Vereinigten Königreich, Deutschland, Brasilien, Kanada, den Vereinigten Arabischen Emiraten, Spanien, Finnland, Oman, der Republik Irland und Bahrain an.
| CEO Insider Trades (12 Mo.) | selling own stock |
|---|---|
| Employees | 13,800 |
| Headquarters | Dallas, TX |
| Address | 14185 Dallas Parkway, 75254 Dallas, United States |
| Phone | 972 391 5000 |
| Website | copart.com |
| IPO Date | 16. Mar 1994 |
| ISIN | US2172041061 |
| Stock Split | 2:1 on 08/22/2023 |
Management
| Name | Title | Birth Year |
|---|---|---|
| Willis J. Johnson | Founder & Chairman | 1947 |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Insider Transactions
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| 28. Jul 2026 | Liaw Jeffrey | Chief Executive Officer | Sell | 27,745 | 30.49 | 845,945 |
| 28. Jul 2026 | Liaw Jeffrey | Chief Executive Officer | Other | 43,166 | 8.70 | 375,544 |
| 28. Jul 2026 | Liaw Jeffrey | Chief Executive Officer | Other | 3,591 | 6.78 | 24,347 |
| 15. Jul 2026 | Liaw Jeffrey | Chief Executive Officer | Other | 812 | 8.70 | 7,064 |
| 15. Jul 2026 | Liaw Jeffrey | Chief Executive Officer | Other | 1,277 | 6.78 | 8,658 |
| 13. Jul 2026 | Englander Daniel J | Director | Other | 40,000 | 0.00 | – |
| 13. Jul 2026 | Englander Daniel J | Director | Sell | 80,000 | 27.55 | 2,204,000 |
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
View all insider transactions →Chart
Interactive price chart (TradingView).
Data as of: July 31, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.