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COPART INCCPRT

Sector
Consumer
Industry
Retail-Auto Dealers & Gasoline Stations
Exchange
Nasdaq

Stock Price $CPRT

Latest filings

You are here#51 of 57 in Industrials by market cap

Filing record · 2016–202610-K1110-Q328-K93

CPRT filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 93 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Jul ’16Jul ’16
  2. Leadership change8-K · Sep ’19Sep ’19
  3. Leadership change8-K · Sep ’21Sep ’21
  4. FY2025 annual report10-K · Sep ’25Sep ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  17. $4.65B
YoY changeLargest recent move+30.0%in FY22Latest +9.7%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

View full history →
All CPRT Financial Metrics58 metrics

Income Statement15

Balance Sheet25

Cash Flow14

Per Share4

02—Overview

COPART INC Financial Overview 2021–2025

Updated Aug 8, 2026

By sourcing 81% of its processed vehicles directly from insurance companies, Copart has engineered a highly profitable fee-based salvage and remarketing engine. The core investment thesis centers on the company’s proprietary Virtual Bidding Third Generation (VB3) internet auction platform. By connecting a localized supply of total-loss vehicles with a global buyer base, Copart drives up auction yields and collects lucrative service fees, creating a deeply entrenched market position that scales efficiently without the capital risks of vehicle ownership.

The financial trajectory reflects this structural advantage. Total corporate revenue grew from $2.7 billion in FY2021 to $3.9 billiona in FY2023, with core service revenues alone climbing to $3.96 billion by FY2025 on 11.4% year-over-year growth. This fee-driven model generates immense cash flows, allowing Copart to fund continuous international yard expansion while steadily returning capital to shareholders. During the first nine months of FY2026, the company repurchased $1.63 billion of its common stock, yet still closed Q3 2026 with a formidable $3.35 billion in cash and cash equivalents.

The market has consistently rewarded this cash-rich profile with a premium valuation. At the close of FY2025, the stock traded at $45.33b per share, commanding a multiple of 28.5x trailing earnings. This equated to a $43.9 billion market capitalization, reflecting robust investor confidence in Copart's ability to extract enduring value from the global vehicle salvage ecosystem.

Recent Developments (Q2 and Q3 2026)

Copart is undergoing an executive transition, with A. Jayson Adair taking over as CEO and Jane Pocock assuming the President role in Q4 2026. Operationally, the company recovered from a 4.0% decline in service revenue during Q2 2026—stemming from a difficult comparison against prior-year hurricane activity—to post a 2.1% increase to $1.06 billionc in Q3 2026. This rebound was fueled by a 17.9% surge in international service revenues. However, general and administrative expenses rose 7.5% during Q3 2026, driven by higher global labor costs.

Bulls highlight the resilient international segment, which consistently generates higher revenue per car despite lower volumes. Bears warn that climbing facility operations and labor expenses are actively pressuring profitability margins. At 20.6xd earnings as of the Q3 2026 reporting date, the stock appears cheaply valued relative to recent earnings performance.

What to watch: international volume trends under the new leadership team; the trajectory of domestic labor and facility operations expenses.

03—Filings

Recent SEC Filings

  1. 8-KCOPART INC 8-K Report, Executive Changes (Oct 16, 2026)Copart, Inc. (CPRT) announced a significant stock option grant to its CEO, A. Jayson Adair, on October 14, 2026. This grant, totaling 20,000,000 shares, is a non-statutory stock option with a 10-year term and will be subject to stockholder approval at the upcoming 2026 Annual Meeting. Notably, this option is intended to be Mr. Adair's sole substantive compensation for the next decade, with an annual salary of $1 and no expected bonuses or additional equity awards during this period, outside of certain perquisite programs.
  2. 8-KCOPART INC 8-K Report, Acquisition Completed (Oct 16, 2026)Copart, Inc. (CPRT) has announced the successful completion of its acquisition of ACV Auctions Inc. (ACVA) as of October 16, 2026. The acquisition was effectuated through a cash tender offer at $10.50 per share, which was followed by a merger. A significant majority of ACV's shares, approximately 68.43%, were tendered and accepted for payment. This strategic move combines Copart's existing remarketing services with ACV's platform, aiming to create a comprehensive industry-leading remarketing solution that spans dealer trade-ins, wholesale remarketing, salvage disposition, and international reach. This integration is expected to enhance capabilities, drive efficiency, and expand the overall footprint for both companies. ACV will now operate as an independent subsidiary of Copart, led by its existing management team. The transaction marks a significant step in Copart's growth strategy, aiming to deliver increased value to customers by leveraging the combined strengths and expansive networks of both entities. Shares of ACV common stock will cease trading on the New York Stock Exchange.
  3. 8-KCOPART INC 8-K Report, Material Agreement (Sep 10, 2026)Copart (CPRT) has entered into a definitive Agreement and Plan of Merger with ACV Auctions (ACVA) under which Copart, through a wholly owned subsidiary (Apple Merger Sub, Inc.), will acquire all outstanding ACV common stock for $10.50 per share in cash, implying an equity value of approximately $1.9 billion. The offer price represents a premium of roughly 45% to ACV's unaffected closing price on August 10, 2026 and about 41% to its 30-day VWAP through September 9, 2026. The deal is structured as a cash tender offer to be commenced within 5 to 7 business days, followed by a second-step merger under DGCL Section 251(h) with no additional stockholder vote. Closing is targeted for calendar year-end 2026, and the transaction is not subject to a financing condition; Copart intends to fund it from cash on hand. Key conditions include a minimum tender of more than 50% of outstanding ACV shares (counting shares already held by Copart), expiration of the HSR waiting period, and no legal injunctions in material jurisdictions. Support agreements covering about 4.1% of ACV stock have been signed, which helps the odds of reaching the minimum condition. The merger agreement includes a no-shop with a fiduciary out, a $57.7 million termination fee payable by ACV, and a $115.3 million reverse termination fee payable by Copart under specified regulatory circumstances. Those fees, roughly 3% and 6% of equity value respectively, are the main downside protections for each side. Management frames the deal as strategically accretive: it adds a dealer-to-dealer wholesale channel and ACV's technology and data assets to Copart's whole-car and technology-services growth pillars. Copart expects the transaction to be roughly EPS-neutral in the first full year of ownership and accretive in fiscal 2028 and beyond, with near-term cost and revenue synergies. Investors should weigh the purchase price against integration risk, antitrust review in the U.S. and a potential reverse fee, and the fact that the deal is being announced alongside Copart's fiscal 2026 Q4 and full-year results.
  4. 8-KCOPART INC 8-K Report, Financial Results (Sep 10, 2026)Copart reported fourth-quarter fiscal 2026 results (quarter ended July 31, 2026) showing modest top-line growth but weaker profitability. Revenue rose 2.4% to $1.15 billion (the press release rounds this to $1.2 billion), but gross profit fell 5.5% to $481.4 million as facility operations costs (+7.7%), cost of vehicle sales (+11.4%), and G&A (+16.6%) grew faster than revenue. Operating income declined 10.6% to $368.9 million, and net income attributable to Copart fell 17.4% to $327.4 million. Diluted EPS was $0.35, down 14.6% from $0.41, though lower share count from buybacks cushioned the per-share decline relative to the net income decline. For the full fiscal year, revenue was essentially flat at $4.67 billion (+0.4%), gross profit declined 0.8% to $2.08 billion, and net income attributable to Copart fell 4.4% to $1.48 billion. Diluted EPS was $1.55 versus $1.59 (-2.5%). Interest income, net, rose only 1.7% for the year but fell 20.5% in the fourth quarter as cash balances declined. Capital allocation was a major theme. Copart repurchased $1.63 billion of common stock during the fiscal year, versus no repurchases in the prior year, reducing weighted average diluted shares by 2.1% for the year and 4.7% in the fourth quarter. Cash, cash equivalents, and restricted cash fell to $1.91 billion from $2.78 billion, while held-to-maturity investments rose to $2.58 billion. Operating cash flow declined about 11% to $1.60 billion, and capital expenditures dropped to $337 million from $569 million. Note that this filing furnishes the earnings release under Item 2.02 and is not deemed 'filed' for Exchange Act liability purposes.
  5. 8-KCOPART INC 8-K/A Report, Executive Changes (Aug 19, 2026)Copart Inc. (CPRT) announced executive compensation details for Jane Pocock, following her appointment as President on August 1, 2026. The Compensation Committee of the Board of Directors has approved a compensation package designed to incentivize and retain Ms. Pocock, aligning her interests with those of the company and its shareholders. This package includes a significant base salary, annual bonus potential, and equity awards in the form of restricted stock units (RSUs) and stock options, with vesting tied to both time and, for a portion of the options, a performance-based stock price hurdle. The details of Ms. Pocock's compensation are significant as they reflect the company's investment in key leadership. The restricted stock units and stock options are structured with multi-year vesting schedules, encouraging long-term commitment. Notably, a substantial portion of the stock options is contingent on the company's stock price reaching a specified premium, introducing a performance-based element that directly links executive reward to shareholder value creation.
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04—See also

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