Copart, Inc.
- Open
- 29.02
- Day high
- 29.20
- Day low
- 28.68
- Prev close
- 29.40
- Volume
- 8.3M
- Mkt cap
- $26.8B
- P/E (TTM)
- 17.9
- EPS (TTM)
- $1.62
- P/B
- 3.1
- P/S
- 5.8
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$3.0M over the last 3 months (0 open-market buys, 2 sales)
- 🏛Institutions mixed (13F)
Copart, Inc. (CPRT) is a Industrials company listed on NASDAQ. The stock is down 39% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 2 sales (SEC Form 4).
Copart, Inc. (CPRT) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
CPRT earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 21, 2026 | $0.41 | $0.43 | +5.8% | $1.2B | +3.5% |
| Feb 19, 2026 | $0.39 | $0.36 | -8.3% | $1.1B | -2.4% |
| Nov 20, 2025 | $0.39 | $0.41 | +5.2% | $1.2B | -2.0% |
| Sep 4, 2025 | $0.36 | $0.41 | +13.5% | $1.1B | -1.0% |
| May 22, 2025 | $0.42 | $0.42 | +0.8% | $1.2B | -1.4% |
| Feb 20, 2025 | $0.37 | $0.40 | +7.6% | $1.2B | +2.8% |
| Nov 21, 2024 | $0.37 | $0.37 | +0.0% | $1.1B | +4.3% |
| Sep 4, 2024 | $0.36 | $0.33 | -8.3% | $1.1B | -0.5% |
| May 16, 2024 | $0.39 | $0.39 | +0.0% | $1.1B | +1.9% |
| Feb 22, 2024 | $0.35 | $0.33 | -5.7% | $1.0B | -0.8% |
| Nov 16, 2023 | $0.33 | $0.34 | +3.0% | $1.0B | +3.0% |
| Sep 14, 2023 | $0.32 | $0.34 | +6.3% | $998M | +3.6% |
CPRT insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 30, 2026 | Liaw Jeffreyofficer: Chief Executive Officer | Option | 43,166 | $8.70 |
| Jul 30, 2026 | Liaw Jeffreyofficer: Chief Executive Officer | Option | 3,591 | $6.78 |
| Jul 30, 2026 | Liaw Jeffreyofficer: Chief Executive Officer | Sell | 27,745 | $30.49 |
| Jul 17, 2026 | Liaw Jeffreyofficer: Chief Executive Officer | Option | 1,277 | $6.78 |
| Jul 17, 2026 | Liaw Jeffreyofficer: Chief Executive Officer | Option | 812 | $8.70 |
| Jul 15, 2026 | Englander Daniel Jdirector | Sell | 80,000 | $27.55 |
| Jul 10, 2026 | Morefield Diane Mdirector | Option | 50,000 | $19.77 |
| Apr 17, 2026 | Liaw Jeffreyofficer: Chief Executive Officer | Option | 4,523 | $6.78 |
| Apr 17, 2026 | Liaw Jeffreyofficer: Chief Executive Officer | Sell | 2,343 | $33.17 |
| Apr 17, 2026 | Liaw Jeffreyofficer: Chief Executive Officer | Option | 43,166 | $8.70 |
| Apr 17, 2026 | Liaw Jeffreyofficer: Chief Executive Officer | Option | 1,277 | $8.70 |
| Apr 17, 2026 | Liaw Jeffreyofficer: Chief Executive Officer | Sell | 23,870 | $33.18 |
| Apr 17, 2026 | Liaw Jeffreyofficer: Chief Executive Officer | Option | 809 | $6.78 |
| Jan 16, 2026 | Liaw Jeffreyofficer: Chief Executive Officer | Option | 1,277 | $8.70 |
| Jan 16, 2026 | Liaw Jeffreyofficer: Chief Executive Officer | Sell | 2,444 | $40.17 |
Source: CPRT SEC Form 4 filings, latest Jul 30, 2026. For informational purposes only — not investment advice.
See the full CPRT insider & 13F page →Copart, Inc. company profile
Overview
Copart, Inc. (NASDAQ:CPRT) is a leading provider of online vehicle auction and remarketing services founded in 1982 and headquartered in Dallas, Texas. The company went public in 1994 and has grown from a regional salvage auction business into a global marketplace operating across multiple continents. Today, Copart operates the world's largest online vehicle auction platform, processing millions of vehicles annually through its technology-driven auction system that connects sellers like insurance companies with buyers including dismantlers, rebuilders, exporters, and dealers worldwide.
Business
Copart operates in the vehicle remarketing and auction industry, which serves as a critical intermediary in the automotive ecosystem for vehicles that are damaged, totaled, or otherwise need to be sold outside traditional retail channels. The company's core business revolves around online vehicle auctions conducted through its proprietary internet-based platform. The company's primary service is facilitating the sale of salvage and total loss vehicles - cars that insurance companies have deemed too expensive to repair relative to their value. When a vehicle is involved in an accident, flood, fire, or other incident, insurance companies must decide whether to repair the vehicle or declare it a "total loss." Total loss vehicles are then sold to recover some value, and this is where Copart's auction platform comes into play. The company provides a digital marketplace where these vehicles can be sold to the highest bidder through online auctions. Copart's business segments include: 1. Insurance Business (~70-75% of revenue): Serving insurance companies by auctioning total loss vehicles. This includes providing services like vehicle pickup, storage, condition assessment, title processing, and conducting online auctions. 2. Non-Insurance Business (~25-30% of revenue): This includes the "Blue Car" segment (fleet, rental, and finance companies selling off-lease or end-of-life vehicles), dealer services (helping car dealers sell trade-ins and excess inventory), and individual consumers selling vehicles through platforms like CashForCars.com. 3. International Operations: Expanding the auction model globally, with operations in Canada, UK, Germany, Brazil, UAE, and other markets. The company also operates Purple Wave, an equipment auction business, and provides additional services like the U-Pull-It service where buyers can remove parts themselves, and Title Express, which helps streamline title processing for insurance companies.
Revenue model
Copart generates revenue through multiple streams within its auction-based business model. The company primarily makes money by charging seller fees and buyer fees for each vehicle sold through its platform, along with various ancillary services. The core revenue model works as follows: Insurance companies and other vehicle sellers consign their vehicles to Copart, which then stores, photographs, and lists them for online auction. Copart charges the seller a fee (typically a percentage of the sale price) and may also charge buyers additional fees. The company also generates revenue from transportation services (picking up and delivering vehicles), storage fees, title processing services, and other value-added services throughout the remarketing process. Key customers include insurance companies (the largest segment), which regularly need to dispose of total loss vehicles from claims. Other paying customers include fleet management companies, rental car companies, finance companies dealing with repossessions, auto dealers with excess inventory, and individual consumers. On the buyer side, the platform serves licensed dismantlers, rebuilders, used car dealers, exporters, and individual consumers. Factors that increase margins include higher total loss frequency (the percentage of damaged vehicles that insurance companies decide to total rather than repair), which has been trending upward due to increasing vehicle complexity and repair costs. Average selling prices also directly impact revenue since fees are often percentage-based. The company benefits from economies of scale as higher volume spreads fixed costs across more transactions. Factors that could pressure margins include declining used vehicle values (which reduce average selling prices), increased competition in the auction space, rising operational costs including labor and transportation, and potential changes in insurance company behavior regarding total loss decisions. The company's significant land holdings and infrastructure investments provide some protection against cost inflation but require ongoing capital investment.
Competitive moat
Copart possesses several significant competitive advantages that create a substantial economic moat. The company's primary moat stems from its network effects and scale advantages. As the largest online vehicle auction platform globally, Copart benefits from a virtuous cycle where more sellers attract more buyers, and more buyers attract more sellers, creating deeper liquidity that benefits all participants with better prices and faster sales. The company's extensive physical infrastructure represents another key moat element. Copart owns approximately 90% of its nearly 16,000 acres of land globally, including specialized facilities for vehicle storage, processing, and catastrophic event response. This real estate footprint, built over decades, would be extremely difficult and expensive for competitors to replicate, especially in desirable locations near major metropolitan areas. Switching costs provide additional protection, particularly with insurance company clients who integrate Copart's services deeply into their claims processing workflows. The Title Express platform, which processes over 1 million titles annually, and other integrated services create operational dependencies that make switching costly and disruptive for clients. The company's technology platform and data advantages have been refined over decades of operation, incorporating AI-enabled image recognition, logistics optimization, and auction management systems that would be challenging for new entrants to match quickly. However, the moat faces some potential challenges. Digital disruption could theoretically allow new entrants to build competing platforms without the same physical infrastructure requirements, though the network effects and relationships still present significant barriers. Regulatory changes in the insurance industry or vehicle disposal requirements could potentially alter the competitive landscape. Additionally, if major insurance companies decided to develop in-house capabilities or partner with new technology providers, it could pose a competitive threat, though the complexity and capital requirements make this scenario less likely. Overall, Copart's moat appears quite strong and durable, with multiple reinforcing elements that would be difficult for competitors to overcome simultaneously.
Risks & safety
Copart demonstrates a very strong margin of safety with robust financial fundamentals and conservative capital structure. Liquidity and Solvency: - Exceptional cash position: $3.3 billion in cash and short-term investments as of Q2 2025 - Current ratio of 7.9x indicates very strong short-term liquidity - Minimal debt with debt-to-equity ratio of only 1.4% - Strong free cash flow generation: $961 million in FY 2024 - No meaningful solvency risk given strong balance sheet Valuation Metrics: - Trading at 36x P/E ratio, which appears elevated for current growth rates - EV/EBITDA of 27.4x suggests premium valuation - Price-to-book ratio of 6.7x reflects significant premium to tangible assets - Graham number suggests potential overvaluation at current levels Other Considerations: - Highly predictable, recurring revenue model provides earnings stability - Significant real estate holdings provide asset backing and inflation protection - Strong competitive position reduces business risk - However, cyclical exposure to used vehicle markets and insurance claim volumes creates some earnings volatility risk
Recent development
Over the past few years, Copart has pursued several strategic initiatives to expand its market presence and enhance its service offerings. The company has significantly invested in international expansion, with operations growing rapidly in markets like Germany, where it's transitioning from consignment to auction-based models, and other European and Middle Eastern markets showing strong unit growth exceeding 15-20% annually. A major strategic focus has been developing the non-insurance business segments, particularly the "Blue Car" business serving fleet, rental, and finance companies. This segment has shown remarkable growth, with unit volumes increasing 20-27% year-over-year in recent quarters. The company has also expanded its dealer services, helping automotive dealers sell trade-ins and excess inventory through the auction platform. Copart has made significant technology investments, including AI-enabled image recognition tools and the Title Express platform, which now processes over 1 million titles annually for insurance clients. These technology initiatives aim to reduce friction in the claims process and provide additional value-added services that strengthen client relationships. The company completed the acquisition of Purple Wave, an equipment auction business, expanding beyond vehicles into construction and agricultural equipment auctions. This diversification shows 17% year-over-year growth and represents a natural extension of Copart's auction expertise into adjacent markets. Infrastructure expansion has been another key focus, with Copart acquiring over 1,100 acres of additional land and 370 transportation assets in recent years. The company has also enhanced its catastrophic event response capabilities, demonstrated during recent hurricanes where it rapidly processed and sold damaged vehicles using dedicated storage capacity and advanced logistics systems. Recent quarters have seen Copart exploring opportunities in the non-salvage vehicle market, targeting lightly damaged vehicles that don't meet traditional salvage thresholds but could benefit from auction-based disposal. This represents a potential significant market expansion opportunity as the company leverages its existing infrastructure and buyer network.
CPRT company profile · for informational purposes only — not investment advice.
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