# Copart, Inc. (CPRT) Q4 2025 Financial Results Summary
Copart, Inc. (NASDAQ: CPRT) released its financial results for the fourth quarter of fiscal year 2025 on September 4, 2025.
### Financial Highlights for Q4 2025
– **Revenue**: $1.1 billion
– **Change**: Increase of $56.1 million, or **5.2%** compared to Q4 2024.
– **Gross Profit**: $510 million
– **Change**: Increase of $56.1 million, or **12.4%** compared to Q4 2024.
– **Net Income Attributable to Copart, Inc.**: $396 million
– **Change**: Increase of $73.8 million, or **22.9%** compared to Q4 2024.
– **Fully Diluted Earnings Per Share (EPS)**: $0.41
– **Change**: Increase of $0.08, or **24.2%** compared to Q4 2024 ($0.33).
### Financial Highlights for Fiscal Year Ended July 31, 2025
– **Revenue**: $4.6 billion
– **Change**: Increase of $410.1 million, or **9.7%** compared to FY 2024.
– **Gross Profit**: $2.1 billion
– **Change**: Increase of $192.4 million, or **10.1%** compared to FY 2024.
– **Net Income Attributable to Copart, Inc.**: $1.6 billion
– **Change**: Increase of $189.4 million, or **13.9%** compared to FY 2024.
– **Fully Diluted EPS**: $1.59
– **Change**: Increase of $0.19, or **13.6%** compared to FY 2024 ($1.40).
### Operating Performance Q4 2025
– **Service Revenues**: $956.2 million
– **Change**: Increase of **7.1%** compared to Q4 2024.
– **Vehicle Sales**: $168.9 million
– **Change**: Decrease of **4.0%** compared to Q4 2024.
– **Total Service Revenues and Vehicle Sales**: $1.125 billion
– **Change**: Increase of **5.2%** compared to Q4 2024.
### Expenses
– **Total Operating Expenses**: $712.5 million
– **Change**: Increase of **0.4%** compared to Q4 2024.
– **Operating Income**: $412.6 million
– **Change**: Increase of **14.8%** compared to Q4 2024.
### Other Income
– **Interest Income (Expense), Net**: $49.8 million
– **Change**: Increase of **14.6%** compared to Q4 2024.
– **Total Other Income**: $65.8 million
– **Change**: Increase of **34.6%** compared to Q4 2024.
### Income Taxes
– **Income Tax Expense**: $83.1 million
– **Change**: Decrease of **3.7%** compared to Q4 2024.
### Balance Sheet Highlights
– **Total Assets**: $10.1 billion as of July 31, 2025
– **Change**: Increase of **19.7%** from July 31, 2024 ($8.4 billion).
– **Total Stockholders’ Equity**: $9.2 billion
– **Change**: Increase of **22.1%** from July 31, 2024 ($7.5 billion).
### Cash Flow Summary
– **Net Cash Provided by Operating Activities**: $1.8 billion
– **Change**: Increase of **22.1%** compared to FY 2024.
– **Net Cash Used in Investing Activities**: -$587.4 million
– **Decrease**: Reduction in outflow compared to FY 2024.
– **Net Cash Provided by Financing Activities**: $52.1 million
– **Change**: Increase compared to FY 2024.
### Dividend and Repurchase Activity
– No quarterly dividend or share repurchase program was declared during this reporting period.
### Conclusion
Copart, Inc.’s Q4 and full fiscal year results showcase solid growth across key metrics, particularly in gross profit and net income. This growth, alongside a strong increase in total assets and equity, underscores the company’s robust operational performance in a competitive market.
For further details, investors are encouraged to participate in the conference call or visit Copart’s investor relations page.
| Three Months Ended | Twelve Months Ended | |||
|---|---|---|---|---|
| July 31, 2025 | 2024 % Change | July 31, 2025 | 2024 % Change | |
| Service revenues and vehicle sales: | ||||
| Service revenues | $956,209 | $893,091 | 7.1% | $3,968,662 |
| Vehicle sales | $168,888 | $175,908 | -4.0% | $678,296 |
| Total service revenues and vehicle sales | $1,125,097 | $1,068,999 | 5.2% | $4,646,958 |
| Operating expenses: | ||||
| Yard operations | $418,500 | $407,044 | 2.8% | $1,744,436 |
| Cost of vehicle sales | $147,398 | $161,891 | -9.0% | $602,997 |
| Yard depreciation and amortization | $47,172 | $44,539 | 5.9% | $191,775 |
| Yard stock-based compensation | $2,309 | $1,949 | 18.5% | $8,107 |
| Gross profit | $509,718 | $453,576 | 12.4% | $2,099,643 |
| General and administrative | $83,902 | $81,377 | 3.1% | $348,958 |
| General and administrative depreciation | $6,435 | $6,064 | 6.1% | $24,074 |
| and amortization | ||||
| General and administrative stock-based | $6,790 | $6,591 | 3.0% | $29,897 |
| compensation | ||||
| Total operating expenses | $712,506 | $709,455 | 0.4% | $2,950,244 |
| Operating income | $412,591 | $359,544 | 14.8% | $1,696,714 |
| Other income (expense): | ||||
| Interest income (expense), net | $49,839 | $43,494 | 14.6% | $178,909 |
| Other income (expense), net | $15,978 | $5,389 | 196.5% | $19,958 |
| Total other income | $65,817 | $48,883 | 34.6% | $198,867 |
| Income before income taxes | $478,408 | $408,427 | 17.1% | $1,895,581 |
| Income tax expense | $83,100 | $86,249 | -3.7% | $347,218 |
| Net income | $395,308 | $322,178 | 22.7% | $1,548,363 |
| Less: Net loss attributable to | -$1,046 | -$389 | 168.9% | -$4,086 |
| noncontrolling interest | ||||
| Net income attributable to Copart, Inc. | $396,354 | $322,567 | 22.9% | $1,552,449 |
| Basic net income per common share | $0.41 | $0.34 | 20.6% | $1.61 |
| Weighted average common shares | 967,100 | 962,515 | 0.5% | 965,306 |
| outstanding | ||||
| Diluted net income per common share | $0.41 | $0.33 | 24.2% | $1.59 |
| Diluted weighted average common shares | 977,778 | 976,500 | 0.1% | 977,563 |
| outstanding |
—
| July 31, 2025 | July 31, 2024 | |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash, cash equivalents, and restricted cash | $2,780,531 | $1,514,111 |
| Investment in held to maturity securities | $2,008,539 | $1,908,047 |
| Accounts receivable, net | $762,811 | $785,877 |
| Vehicle pooling costs | $116,145 | $132,638 |
| Inventories | $39,661 | $43,639 |
| Income taxes receivable | $580 | $— |
| Prepaid expenses and other assets | $46,361 | $33,872 |
| Total current assets | $5,754,628 | $4,418,184 |
| Property and equipment, net | $3,598,093 | $3,175,838 |
| Operating lease right-of-use assets | $99,708 | $116,301 |
| Intangibles, net | $62,832 | $74,088 |
| Goodwill | $517,779 | $513,909 |
| Other assets | $57,862 | $129,444 |
| Total assets | $10,090,902 | $8,427,764 |
| LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Accounts payable and accrued liabilities | $591,831 | $518,148 |
| Deferred revenue | $30,440 | $28,121 |
| Income taxes payable | $41,141 | $60,994 |
| Current portion of operating and finance lease liabilities | $19,869 | $21,304 |
| Total current liabilities | $683,281 | $628,567 |
| Deferred income taxes | $80,625 | $93,653 |
| Income taxes payable | $35,635 | $59,560 |
| Operating and finance lease liabilities, net of current portion | $83,870 | $97,429 |
| Total liabilities | $883,411 | $879,209 |
| Commitments and contingencies | ||
| Redeemable non-controlling interest | $20,458 | $24,544 |
| Stockholders’ equity: | ||
| Preferred stock | $— | $— |
| Common stock | $97 | $96 |
| Additional paid-in capital | $1,214,150 | $1,120,985 |
| Accumulated other comprehensive loss | -$120,283 | -$142,972 |
| Retained earnings | $8,093,069 | $6,545,902 |
| Total stockholders’ equity | $9,187,033 | $7,524,011 |
| Total liabilities, redeemable noncontrolling interests and stockholders’ equity | $10,090,902 | $8,427,764 |
