Copart (CPRT) CPRT Q1 Financial Results Summary

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November 20, 2025•5 min read

Copart (CPRT) CPRT Q1 Financial Results Summary

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
Increase of $8.2 million, or 0.7% from Q1 2025.
Gross Profit: $537.0 million
Increase of $24.9 million, or 4.9% from Q1 2025.
Net Income Attributable to Copart, Inc.: $403.7 million
Increase of $41.6 million, or 11.5% from Q1 2025.
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:
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)
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
Decreased by $16.1 million, or 2.2% compared to Q1 2025.
Facility Operations: $427.2 million
Decreased by $20.1 million, or 4.5% from last year.
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
Increased by $7.9 million, or 17.5% from last year.
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
Increased by $35.8 million, or 7.9% from last year.
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
Increased from $482.3 million in Q1 2025.
Investing Activities:
Net Cash Provided: $1.92 billion
- Increased from $1.70 billion in Q1 2025.
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
Increase from $10.09 billion as of July 31, 2025.
Current Assets: $6.20 billion
Increase from $5.75 billion as of July 31, 2025.
Total Liabilities: $961.9 million
Increased from $883.4 million as of July 31, 2025.
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

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