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Copart (CPRT)

Copart, Inc., founded in 1982, is a global leader in online vehicle auctions. Copart's innovative technology and online auction platform links sellers to more than 750,000 Members in over 170 countries. The company offers services to process and sell salvage and clean title vehicles to dealers, dismantlers, rebuilders, exporters and, in some cases, to end users. Copart sells vehicles on behalf of insurance companies, banks, finance companies, charities, fleet operators, dealers, and individual owners. With operations at over 200 locations in 11 countries, Copart has more than 170,000 vehicles available online every day. Copart currently operates in the United States (Copart.com), Canada (Copart.ca), the United Kingdom (Copart.co.uk), the Republic of Ireland (Copart.ie), Brazil (Copart.com.br), Germany (Copart.de), Finland (Copart.fi), the United Arab Emirates, Oman and Bahrain (Copartmea.com), and Spain (Copart.es).

Company profile

Ticker
CPRT
Exchange
Website
CEO
A. Jayson Adair
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
Blue Fortress Holdings, LLC • Blue Magnum Fortress Holdings, LLC • Copart Catastrophe Response Fleet LLC • Copart-Dallas, Inc. • Copart-Houston, Inc. • Copart Investment Holdings LLC • Copart of Arizona, Inc. • Copart of Arkansas, Inc. • Copart of Connecticut, Inc. • Copart of Florida, Inc. ...
IRS number
942867490

CPRT stock data

Analyst ratings and price targets

Last 3 months

Calendar

25 May 22
16 Aug 22
31 Jul 23
Quarter (USD) Apr 22 Jan 22 Oct 21 Jul 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Jul 21 Jul 20 Jul 19 Jul 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
6 Jun 22 Blunt Matt Common Stock Sell Dispose S No No 115.72 10,000 1.16M 0
6 Jun 22 Blunt Matt Common Stock Option exercise Acquire M No No 47.19 10,000 471.9K 10,000
6 Jun 22 Blunt Matt Stock Option Common Stock Option exercise Dispose M No No 47.19 10,000 471.9K 0
31 May 22 Thomas N Tryforos Common Stock Sell Dispose S No No 114.717 11,000 1.26M 0
31 May 22 Thomas N Tryforos Common Stock Option exercise Acquire M No No 12.48 11,000 137.28K 11,000
31 May 22 Thomas N Tryforos Stock Option Common Stock Option exercise Dispose M No No 12.48 11,000 137.28K 0
25 May 22 Englander Daniel J Common Stock Sell Dispose S No No 110.78 80,000 8.86M 0
25 May 22 Englander Daniel J Common Stock Option exercise Acquire M No No 15.01 80,000 1.2M 80,000
25 May 22 Englander Daniel J Stock Option Common Stock Option exercise Acquire M No No 15.01 80,000 1.2M 80,000
1 Apr 22 Liaw Jeffrey RSU Common Stock Grant Acquire A No No 0 50,000 0 50,000
80.2% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 784 830 -5.5%
Opened positions 65 131 -50.4%
Closed positions 111 60 +85.0%
Increased positions 313 301 +4.0%
Reduced positions 286 260 +10.0%
13F shares Current Prev Q Change
Total value 36.07B 28.99B +24.4%
Total shares 190.53M 191.41M -0.5%
Total puts 407.6K 603.9K -32.5%
Total calls 378K 526.8K -28.2%
Total put/call ratio 1.1 1.1 -5.9%
Largest owners Shares Value Change
Vanguard 22.97M $2.88B +1.2%
BLK Blackrock 19.93M $2.5B +2.5%
PFG Principal Financial Group Inc - Registered Shares 9.52M $1.19B +19.5%
Alliancebernstein 8.96M $1.12B +18.1%
STT State Street 8.6M $1.08B -2.9%
Wellington Management 5.9M $739.72M -26.3%
Capital World Investors 4.84M $607.31M +1.0%
Geode Capital Management 4.63M $579.8M +14.5%
JPM JPMorgan Chase & Co. 4.19M $525.2M +17.1%
Capital Research Global Investors 4.14M $519.84M +10.3%
Largest transactions Shares Bought/sold Change
TROW T. Rowe Price 780.99K -5.67M -87.9%
FMR 3.97M +2.48M +166.6%
Wellington Management 5.9M -2.1M -26.3%
Norges Bank 0 -1.85M EXIT
PFG Principal Financial Group Inc - Registered Shares 9.52M +1.55M +19.5%
Alliancebernstein 8.96M +1.37M +18.1%
Boston Partners 1.09M +1.09M NEW
Amundi 1.35M -1.07M -44.4%
Flossbach Von Storch 781.74K +690.74K +759.1%
Assenagon Asset Management 876.36K +630.9K +257.0%

Financial report summary

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Competition
AdesaIAA
Risks
  • We depend on a limited number of major vehicle sellers for a substantial portion of our revenues. The loss of one or more of these major sellers could adversely affect our consolidated results of operations and financial position, and an inability to increase our sources of vehicle supply could adversely affect our growth rates.
  • Our expansion into markets outside the U.S., including expansions in Europe, Brazil, and the Middle East expose us to risks arising from operating in international markets. Any failure to successfully integrate businesses acquired or operational capabilities established outside the U.S. could have an adverse effect on our consolidated results of operations, financial position, or cash flows.
  • Our business is exposed to risks associated with online commerce security and credit card fraud.
  • Implementation of our online auction model in new markets may not result in the same synergies and benefits that we achieved when we implemented the model in the U.S., Canada, and the U.K.
  • Failure to maintain sufficient capacity to accept additional vehicles at one or more of our storage facilities could adversely affect our relationships with insurance companies or other sellers of vehicles.
  • Because the growth of our business has been due in large part to acquisitions and development of new facilities, the rate of growth of our business and revenues may decline if we are not able to successfully complete acquisitions and develop new facilities.
  • As we continue to expand our operations, our failure to manage growth could harm our business and adversely affect our consolidated results of operations and financial position.
  • If we experience problems with our subhaulers and trucking fleet operations, our business could be harmed.
  • New member programs could impact our operating results.
  • Factors such as mild weather conditions can have an adverse effect on our revenues and operating results, as well as our revenue and earnings growth rates, by reducing the available supply of salvage vehicles. Conversely, extreme weather conditions can result in an oversupply of salvage vehicles that requires us to incur abnormal expenses to respond to market demands.
  • If we lose key management or are unable to attract and retain the talent required for our business, we may not be able to successfully manage our business or achieve our objectives.
  • The vehicle sales industry is highly competitive and we may not be able to compete successfully.
  • Changes in federal, state and local, or foreign tax laws, changing interpretations of existing tax laws, or adverse determinations by tax authorities could increase our tax burden or otherwise adversely affect our results of operations, and financial condition.
  • Our internet-based sales model has increased the relative importance of intellectual property assets to our business, and any inability to protect those rights could have a material adverse effect on our business, results of operations or financial position.
  • We have in the past been and may in the future be subject to intellectual property rights claims, which are costly to defend, could require us to pay damages, and could limit our ability to use certain technologies in the future.
  • We have developed a proprietary enterprise operating system, and we may experience difficulties operating our business as we continue to design and develop this system.
  • Decreased utility of internally developed capitalized software could adversely affect our consolidated results of operations and financial condition.
  • Disruptions to our information technology systems, including failure to prevent outages, maintain security, and prevent unauthorized access to our information technology systems and other confidential information, could disrupt our business and materially and adversely affect our reputation, consolidated results of operations, and financial condition.
  • Rapid technological changes may render our technology obsolete or decrease the competitiveness of our services.
  • Our annual and quarterly performance may fluctuate, causing the price of our stock to decline.
  • We are partially self-insured for certain losses and if our estimates of the cost of future claims differ from actual trends, our results of operations could be harmed.
  • Our executive officers, directors and their affiliates hold a large percentage of our stock and their interests may differ from other stockholders.
  • We have certain provisions in our certificate of incorporation and bylaws which may have an anti-takeover effect or that may delay, defer or prevent acquisition bids for us that a stockholder might consider favorable and limit attempts by our stockholders to replace or remove our current management.
  • Cash investments are subject to risks.
  • Macroeconomic factors such as high fuel prices, declines in commodity prices, declines in used car prices, and vehicle-related technological advances may have an adverse effect on our revenues and operating results, as well as our earnings growth rates.
  • Adverse U.S. and international economic conditions may negatively affect our business, operating results, and financial condition.
  • Fluctuations in foreign currency exchange rates could result in declines in our reported revenues and earnings.
Management Discussion
  • Service Revenues. The increase in service revenue during the three months ended April 30, 2022 of $142.5 million or 22.8%, as compared to the same period last year resulted from (i) an increase in the U.S. of $128.5 million and (ii) an increase in International of $13.9 million. The growth in the U.S. was driven primarily by (i) an increase in revenue per car partially driven by the scarcity of vehicles due to global supply chain disruptions and (ii) an increase in volume resulting from higher miles driven due to the reopening of the United States economy. Excluding the unfavorable impact of $3.0 million due to changes in foreign currency exchange rates, primarily from the change in the European Union euro and British Pound to U.S. dollar exchange rates, net against a favorable impact of the Brazilian Real to the U.S. dollar exchange rate, the growth in International was driven primarily by an increase in revenue per car partially driven by the scarcity of vehicles due to global supply chain disruptions and an increase in volume resulting from higher miles driven due to the reopening of the International economies.

Content analysis

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Positive
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Legalese
Litigous
Readability
H.S. sophomore Avg
New words: anniversary, consummated, expertise, Lattice, matter, prepaid, recruitment, referenced, retire, retired, scarcity, slightly, unfavorable
Removed: amendment, assuming, detrimental, equaled, June, nonqualified, Oversight, simulation, vested