At a glance
Copart Inc is worth $29.58B, about 21 times its fiscal 2026 earnings. Revenue grew 0.4% to $4.67B in fiscal 2026, with 31.8% kept as profit; over 5 years it has grown 11.6% a year. It pays no dividend; it spent $1.63B buying back its shares over FY2022–FY2026. The stock returned −25.8% over the past year with dividends reinvested and −3.7% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 43.8% in the 2020 crash (S&P 500: 33.7%) and 30.1% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 5 months and 9 months after the lows.
The business in plain English
Copart runs online auctions for used and damaged vehicles in 11 countries, including the U.S., the U.K., Germany, Brazil, Canada and Spain. Most of the cars come from insurance companies. Insurers supplied 79% of the vehicles Copart processed in the fiscal year ended July 31, 2026. These are usually cars that an insurer has written off as not worth repairing after an accident or natural disaster. Others are stolen cars that were recovered after the claim was paid. Other sellers include dealers, rental car companies, banks, finance companies, fleet operators, charities and individuals.
Buyers register as members. They can bid from anywhere with internet access, using Copart's own two-stage auction system, called VB3. By volume, the largest group of buyers is vehicle dismantlers, who take cars apart for parts. Others include rebuilders, used car dealers, exporters and the general public. International members bought 38.2% of Copart's U.S. vehicles, counted by unit, in fiscal 2026.
In most of its markets, including the U.S., Copart acts as an agent. It does not own the car. Instead it charges fees for listing, selling, transport, storage, title paperwork and bidding. These service fees made up 85.1% of fiscal 2026 revenue of $4.67 billion. The other 14.9% came from vehicles and parts that Copart bought outright and sold for its own account. Operating income was $1.65 billion.
Price history
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CPRT -25.8% over the year to Nov 2, 2026, total return with dividends reinvested.
How it makes money
By product or service
| Service | $3.97B | 85.1% |
| Product | $696.7M | 14.9% |
Latest results
- In Q4 FY2026 (ended Jul 31, 2026), revenue was $1.15B, up 2.4% from a year earlier, and net income was $327.4M (-17.4%).
- For fiscal 2026, revenue was $4.67B (+0.4% year over year; +11.6% a year from FY2021 to FY2026) with a 31.8% net margin.
Financial health check
| Revenue growth a year (FY2021–FY2026) | +11.6% good |
|---|---|
| Operating margin | 35.4% good |
| Free cash flow margin | 27.2% good |
| Return on equity (FY2026) | 16.3% good |
| Return on assets (FY2026) | 14.8% good |
| Cash and investments | $1.91B (no borrowings found in the filings) good |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $2.69B | $936.5M | $527.9M |
| FY2022 | $3.50B | $1.09B | $839.2M |
| FY2023 | $3.87B | $1.24B | $847.6M |
| FY2024 | $4.24B | $1.36B | $961.6M |
| FY2025 | $4.65B | $1.55B | $1.23B |
| FY2026 | $4.67B | $1.48B | $1.27B |
Valuation snapshot
| Market value | $29.58B |
|---|---|
| P/E ratio | 20.6 |
| Dividend yield | None |
Rank among 1514 US companies
Market value at each year end
Copart’s market value went from $6.35B at the end of 2016 to $29.58B on Nov 2, 2026, about 4.7 times as much; since the end of 2025 it is down 22%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $29.58B | -22.0% |
| 2025 | $37.90B | -31.5% |
| 2024 | $55.30B | +17.5% |
| 2023 | $47.05B | +62.2% |
| 2022 | $29.00B | -19.4% |
| 2021 | $35.96B | +19.7% |
| 2020 | $30.05B | +42.1% |
| 2019 | $21.14B | +89.1% |
| 2018 | $11.18B | +11.9% |
| 2017 | $9.99B | +57.3% |
| 2016 | $6.35B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| CPRT price data to Nov 2, 2026 | -18.4% | -25.8% | -11.0% | -3.7% | +17.3% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -18.4% |
| 2025 | -31.8% |
| 2024 | +17.1% |
| 2023 | +61.0% |
| 2022 | -19.7% |
| 2021 | +19.1% |
| 2020 | +39.9% |
| 2019 | +90.3% |
| 2018 | +10.6% |
| 2017 | +55.9% |
| 2016 | +45.8% |
| 2015 | +4.2% |
| 2014 | -0.4% |
| 2013 | +24.2% |
| 2012 | +23.2% |
| 2011 | +28.2% |
| 2010 | +2.0% |
| 2009 | +34.7% |
| 2008 | -36.1% |
| 2007 | +41.8% |
| 2006 | +30.1% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 27.4% over that stretch · deepest drop along the way 51.9%, back to its old high 37.5 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 43.8% over that stretch · deepest drop along the way 43.8%, back to its old high 5.4 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 24.7% over that stretch · deepest drop along the way 30.1%, back to its old high 9.4 months after the low |
Insider activity
Form 4 filings from 2025-10-27 to 2026-10-27 (25 read): 0 open-market purchases and 8 sales ($9.4M), 4 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| Nov 25, 2025 | Thomas N Tryforos Director | sell | $3.9M |
| Jul 13, 2026 | Daniel J Englander Director | sell | $2.2M |
| Jan 15, 2026 | Jeffrey Liaw Chief Executive Officer | sell | $912K |
| Jul 28, 2026 | Jeffrey Liaw Chief Executive Officer | sell (plan) | $846K |
| Apr 15, 2026 | Jeffrey Liaw Chief Executive Officer | sell (plan) | $792K |
Who owns it
Large shareholders (13G filings)
| Vanguard Capital Management | 6.86% | Mar 31, 2026 |
| BlackRock, Inc. | 6% | Mar 31, 2025 |
ETFs with the most weight in CPRT
| AMID Argent Mid Cap ETF | 4.31% |
| YALL God Bless America ETF | 4.03% |
| TOLL Tema Monopolies and Oligopolies ETF | 3.58% |
| XOVR ERShares Private-Public Crossover ETF | 3.18% |
| IBUY Amplify Online Retail ETF | 3.04% |
| BCUS Bancreek U.S. Large Cap ETF | 3.02% |
| PDP Invesco Dorsey Wright Momentum ETF | 2.94% |
| FDN First Trust Dow Jones Internet Index Fund | 2.69% |
What could go wrong
- Reliance on a few big insurance sellers. Insurers supplied 79% of the vehicles processed in fiscal 2026. Some contracts are non-exclusive and can be ended on short notice. Sellers have ended agreements in particular markets before.
- Weather can swing vehicle supply. Mild weather means fewer damaged cars to auction. Severe storms can do the opposite, creating an oversupply of vehicles that forces unusual spending to handle the surge.
- Storage space and expansion limits. Copart needs room at its yards to take in more cars. Running out of space could hurt relationships with insurers. Growth has also leaned on acquisitions and new facilities, which may not continue.
- Trade rules could limit overseas buyers. International members bought 38.2% of Copart's U.S. vehicles, by unit, in fiscal 2026. Changes to import or export laws could shrink that pool of buyers and the prices cars fetch.
- Owning cars brings inventory risk. In the U.K., Germany and Spain, Copart sometimes buys vehicles outright and resells them. It then carries the risk that their value falls, and these sales can pull down overall profit margins.
- Used car prices, fuel and car technology. Some selling fees are tied to a car's sale price, so weaker used car or commodity prices can cut revenue. Fuel prices drive towing costs, and changes in vehicle technology could affect future supply.
Recent events
- Executive or board change
- Acquisition or sale of assets completed; Investor presentation or announcement
- Major agreement signed; Investor presentation or announcement
- Quarterly results released
- Executive or board change; Investor presentation or announcement
- Executive or board change; Investor presentation or announcement
- Quarterly results released
- Quarterly results released
- Major agreement signed; New debt or financial obligation
- Shareholder vote results
For income and retirement investors
Copart paid no dividends from fiscal 2022 through fiscal 2026. Investors who need income from the stock would have to cash in shares. The company returns cash through buybacks instead, meaning it repurchases its own stock. It spent about $1.63 billion on buybacks in the fiscal year ended July 31, 2026, after none in fiscal 2024 or 2025. The share count fell 2.4% between November 2021 and September 2026.
The shares have fallen sharply in past downturns. They dropped 51.9% in the 2008 financial crisis and took more than three years to recover. In the 2020 COVID crash they fell 43.8% but recovered in about five months. In the 2022 bear market they lost 30.1% and recovered in about nine months. Their largest drop in the three years to October 28, 2026 was 58.9%, the deepest in more than 21 years of price history. As a single stock, Copart carries more risk than a diversified fund.
Questions investors ask
How does Copart make money?
Mostly through fees. Copart runs online vehicle auctions, largely for insurance companies. It charges sellers and buyers fees for listing, selling, transport, storage, title paperwork and bidding. In the fiscal year ended July 31, 2026, those service fees made up 85.1% of its $4.67 billion in revenue. The other 14.9% came from vehicles and parts it sold for its own account. Operating income was $1.65 billion. That is an operating margin of 35.4%: about 35 cents of each revenue dollar was left after operating costs.
Where does Copart get the cars it sells?
Mainly from insurance companies. Insurers supplied 79% of the vehicles Copart processed in fiscal 2026, down from 81% in fiscal 2025 and 2024. Most are cars written off after accidents or natural disasters, or stolen cars that were recovered. Dealers, rental car companies, banks, finance companies, fleet operators, charities and individuals supply the rest. No single customer made up more than 10% of revenue in fiscal 2024 through 2026. Even so, a small group of sellers has historically supplied a large share of revenue.
Does Copart pay a dividend?
No. Copart paid no dividends from fiscal 2022 through fiscal 2026. It returned cash through buybacks instead, spending about $1.63 billion on its own stock in the fiscal year ended July 31, 2026. Fewer shares can raise each remaining share's slice of profits, but buybacks do not put cash in shareholders' pockets. Someone relying on the stock for income would need to cash in shares. That means giving up more shares when the price is low.
How much has Copart stock fallen?
Sharply. As of October 28, 2026, Copart shares were down 34.3% over one year and 26% year to date, after a 31.8% loss in 2025. Their deepest drop over the past three years was 58.9%. The slide came as growth stalled: revenue rose just 0.4% in fiscal 2026 and net income fell 4.4%. Over longer periods, the average yearly price return was -5.4% over five years and 16% over 10 years, both to the same date.
What is Copart's P/E ratio?
About 18.7 as of October 28, 2026, based on fiscal 2026 earnings of $1.55 per share. The price-to-earnings ratio shows how many dollars investors pay for each dollar of yearly profit. On that date the whole company was valued at about $26.8 billion. Adjusted for stock splits, earnings per share grew from $0.97 in fiscal 2021 to $1.59 in fiscal 2025, then slipped in fiscal 2026. Whether the ratio looks high or low depends on whether growth picks up again.