Copart (CPRT) CPRT Q1 Financial Results Summary
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Copart, Inc. (CPRT) Q1 2026 Financial Results Summary
Dallas, Texas — Copart, Inc. (NASDAQ: CPRT) released its financial results for the quarter ended October 31, 2025, on November 20, 2025.
Key Financial Highlights:
- Total Revenue: $1.16 billion
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Increase of $8.2 million, or 0.7% from Q1 2025.
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Gross Profit: $537.0 million
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Increase of $24.9 million, or 4.9% from Q1 2025.
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Net Income Attributable to Copart, Inc.: $403.7 million
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Increase of $41.6 million, or 11.5% from Q1 2025.
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Earnings Per Share (EPS):
- Fully Diluted EPS: $0.41, an increase of 11.7% from $0.37 last year.
- Basic EPS: $0.42, an increase of 11.0% from $0.38 last year.
Segment Financials:
- Service Revenues:
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Total: $991.8 million
- United States: $855.5 million (down 0.5% vs. last year)
- International: $136.3 million (up 7.9% vs. last year)
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Vehicle Sales:
- Total: $163.2 million
- United States: $97.1 million (up 10.8% vs. last year)
- International: $66.1 million (down 9.4% vs. last year)
Operating Expenses:
- Total Operating Expenses: $724.3 million
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Decreased by $16.1 million, or 2.2% compared to Q1 2025.
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Facility Operations: $427.2 million
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Decreased by $20.1 million, or 4.5% from last year.
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Cost of Vehicle Sales: $141.5 million
- Increased by $3.4 million, or 2.4% from last year.
Other Income:
- Net Interest Income: $53.5 million
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Increased by $7.9 million, or 17.5% from last year.
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Net Other Income: $2.9 million
- Transitioning from a loss of $0.6 million in Q1 2025, representing a significant change.
Income Before Tax:
- Income Before Income Taxes: $487.1 million
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Increased by $35.8 million, or 7.9% from last year.
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Income Tax Expense: $84.9 million
- Decreased by $5.2 million, or 5.8% from last year.
Cash Flow Highlights:
- Net Cash Provided by Operating Activities: $535.3 million
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Increased from $482.3 million in Q1 2025.
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Investing Activities:
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Net Cash Provided: $1.92 billion
- Increased from $1.70 billion in Q1 2025.
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Financing Activities:
- Net Cash Provided: $0.5 million
- Decrease in comparison to $2.1 million provided in Q1 2025.
Balance Sheet Highlights:
- Total Assets: $10.58 billion
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Increase from $10.09 billion as of July 31, 2025.
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Current Assets: $6.20 billion
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Increase from $5.75 billion as of July 31, 2025.
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Total Liabilities: $961.9 million
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Increased from $883.4 million as of July 31, 2025.
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Total Stockholders’ Equity: $9.60 billion
- Increased from $9.19 billion as of July 31, 2025.
Shareholder Actions:
- Copart did not declare a quarterly dividend for this period.
- There are no indications of share repurchase programs mentioned in this report.
Summary:
Copart, Inc. shows stable growth in revenues, gross profits, and net income for Q1 of fiscal 2026 compared to the prior year. With careful management of operating expenses and significant net cash flows, the company continues to position itself well for future performance.
| Three Months Ended | October 31, 2025 | October 31, 2024 | % Change |
|---|---|---|---|
| Service revenues | $991,845 | $986,336 | 0.6% |
| Vehicle sales | $163,185 | $160,493 | 1.7% |
| Total service revenues and vehicle sales | $1,155,030 | $1,146,829 | 0.7% |
| Facility operations | $427,164 | $447,245 | -4.5% |
| Cost of vehicle sales | $141,543 | $138,178 | 2.4% |
| Facility depreciation and amortization | $47,390 | $47,477 | -0.2% |
| Facility stock-based compensation | $1,935 | $1,824 | 6.1% |
| Gross profit | $536,998 | $512,105 | 4.9% |
| General and administrative | $92,268 | $90,997 | 1.4% |
| General and administrative depreciation and amortization | $6,652 | $6,150 | 8.2% |
| General and administrative stock-based compensation | $7,384 | $8,591 | -14.0% |
| Total operating expenses | $724,336 | $740,462 | -2.2% |
| Operating income | $430,694 | $406,367 | 6.0% |
| Interest income, net | $53,505 | $45,547 | 17.5% |
| Other income (expense), net | $2,924 | $-596 | -590.6% |
| Total other income | $56,429 | $44,951 | 25.5% |
| Income before income taxes | $487,123 | $451,318 | 7.9% |
| Income tax expense | $84,913 | $90,142 | -5.8% |
| Net income | $402,210 | $361,176 | 11.4% |
| Less: Net income (loss) attributable to noncontrolling interest | $-1,504 | $-910 | 65.3% |
| Net income attributable to Copart, Inc. | $403,714 | $362,086 | 11.5% |
| Basic net income per common share | $0.42 | $0.38 | 11.0% |
| Weighted average common shares outstanding | 967,650 | 963,176 | 0.5% |
| Diluted net income per common share | $0.41 | $0.37 | 11.7% |
| Diluted weighted average common shares outstanding | 977,100 | 976,506 | 0.1% |
| October 31, 2025 | July 31, 2025 | |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash, cash equivalents, and restricted cash | $5,233,590 | $2,780,531 |
| Investment in held to maturity securities | $9,861 | $2,008,539 |
| Accounts receivable, net of allowance for credit losses of $14,916 and $12,945, respectively | $759,687 | $762,811 |
| Vehicle pooling costs | $118,166 | $116,145 |
| Inventories | $40,408 | $39,661 |
| Income taxes receivable | $574 | $580 |
| Prepaid expenses and other assets | $39,848 | $46,361 |
| Total current assets | $6,202,134 | $5,754,628 |
| Property and equipment, net | $3,650,424 | $3,598,093 |
| Operating lease right-of-use assets | $95,594 | $99,708 |
| Intangibles, net | $59,615 | $62,832 |
| Goodwill | $518,756 | $517,779 |
| Other assets | $54,491 | $57,862 |
| Total assets | $10,581,014 | $10,090,902 |
| LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Accounts payable and accrued liabilities | $607,386 | $591,831 |
| Deferred revenue | $30,471 | $30,440 |
| Income taxes payable | $125,469 | $41,141 |
| Current portion of operating and finance lease liabilities | $17,870 | $19,869 |
| Total current liabilities | $781,196 | $683,281 |
| Deferred income taxes | $85,839 | $80,625 |
| Income taxes payable | $12,802 | $35,635 |
| Operating and finance lease liabilities, net of current portion | $82,066 | $83,870 |
| Total liabilities | $961,903 | $883,411 |
| Commitments and contingencies | ||
| Redeemable non-controlling interest | $18,954 | $20,458 |
| Stockholders’ equity: | ||
| Preferred stock | $0 | $0 |
| Common stock | $97 | $97 |
| Additional paid-in capital | $1,224,683 | $1,214,150 |
| Accumulated other comprehensive loss | $-120,076 | $-120,283 |
| Retained earnings | $8,495,453 | $8,093,069 |
| Total stockholders’ equity | $9,600,157 | $9,187,033 |
| Total liabilities, redeemable noncontrolling interests and stockholders’ equity | $10,581,014 | $10,090,902 |