Copart Reports Fourth Quarter Fiscal 2026 Financial Results
DALLAS--( BUSINESS WIRE)--Copart, Inc. (NASDAQ: CPRT) today reported financial results for the quarter and year ended July 31, 2026.
For the three months ended July 31, 2026, revenue, gross profit, and net income attributable to Copart, Inc. were $1.2 billion, $481.4 million, and $327.4 million, respectively. These represent an increase in revenue of $27.3 million, or 2.4 %; a decrease in gross profit of $28.3 million, or (5.5)%; and a decrease in net income attributable to Copart, Inc. of $68.9 million, or (17.4)%, respectively, from the same period last year. Fully diluted earnings per share for the three months ended July 31, 2026 declined to $0.35 compared to $0.41 last year, or (14.6)%.
For the year ended July 31, 2026, revenue, gross profit, and net income attributable to Copart, Inc. were $4.7 billion, $2.1 billion, and $1.5 billion, respectively. These represent an increase in revenue of $19.3 million, or 0.4 %; a decrease in gross profit of $15.8 million, or (0.8)%; and a decrease in net income attributable to Copart, Inc. of $68.2 million, or (4.4)%, respectively, from the same period last year. Fully diluted earnings per share for the year ended July 31, 2026 declined to $1.55 compared to $1.59 last year, or (2.5)%.
On Thursday, September 10, 2026, at 5:30 p.m. Eastern Time (4:30 p.m. Central Time), Copart will conduct a conference call to discuss the results for the quarter. The call will be webcast live and can be accessed via hyperlink at www.copart.com/investorrelations. A replay of the call will be available through November 2026 by visiting www.copart.com/investorrelations.
About Copart
Copart, Inc., founded in 1982, is a global leader in online vehicle auctions. Copart’s innovative technology and online auction platforms connect vehicle consignors to approximately 1 million members in over 185 countries. Copart offers a comprehensive suite of vehicle remarketing services to insurance companies, financial institutions, dealers, rental car companies, charities, fleet operators, and individuals, and offers vehicles via auction to dealers, dismantlers, rebuilders, exporters, and the general public. With operations at over 250 locations in 11 countries, Copart sold more than 4 million units in the last year. Copart currently operates in the United States (Copart.com), Canada (Copart.ca), the United Kingdom (Copart.co.uk), Brazil (Copart.com.br), the Republic of Ireland (Copart.ie), Germany (Copart.de), Finland (Copart.fi), the United Arab Emirates, Oman and Bahrain (Copartmea.com), and Spain (Copart.es). For more information, or to become a Member, visit Copart.com/register.
Copart, Inc.
Cautionary Note About Forward-Looking Statements
This press release contains forward-looking statements within the meaning of federal securities laws. These forward-looking statements are subject to substantial risks and uncertainties. These forward-looking statements are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected or implied by our statements and comments. For a more complete discussion of the risks that could affect our business, please review the “Management’s Discussion and Analysis” and the other risks identified in Copart’s latest Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, as filed with the Securities and Exchange Commission. We encourage investors to review these disclosures carefully. We do not undertake to update any forward-looking statement that may be made from time to time on our behalf.
Copart, Inc.
Consolidated Statements of Income
(In thousands, except per share amounts)
(Unaudited)
Three Months Ended
July 31,
Year Ended
July 31,
2026
2025
% Change
2026
2025
% Change
Service revenues and vehicle sales:
Service revenues
$
969,544
$
956,209
1.4
%
$
3,969,520
$
3,968,662
0.0
%
Vehicle sales
182,895
168,888
8.3
%
696,689
678,296
2.7
%
Total service revenues and vehicle sales
1,152,439
1,125,097
2.4
%
4,666,209
4,646,958
0.4
%
Operating expenses:
Facility operations
450,745
418,500
7.7
%
1,755,747
1,744,436
0.6
%
Cost of vehicle sales
164,211
147,398
11.4
%
616,463
602,997
2.2
%
Facility depreciation and amortization
53,759
47,172
14.0
%
201,669
191,775
5.2
%
Facility stock-based compensation
2,275
2,309
(1.5
)%
8,472
8,107
4.5
%
Gross profit
481,449
509,718
(5.5
)%
2,083,858
2,099,643
(0.8
)%
General and administrative
97,813
83,902
16.6
%
373,218
348,958
7.0
%
General and administrative depreciation and amortization
7,202
6,435
11.9
%
27,704
24,074
15.1
%
General and administrative stock-based compensation
7,530
6,790
10.9
%
30,346
29,897
1.5
%
Total operating expenses
783,535
712,506
10.0
%
3,013,619
2,950,244
2.1
%
Operating income
368,904
412,591
(10.6
)%
1,652,590
1,696,714
(2.6
)%
Other income:
Interest income, net
39,618
49,839
(20.5
)%
181,923
178,909
1.7
%
Other (expense) income, net
(3,811
)
15,978
(123.9
)%
464
19,958
(97.7
)%
Total other income
35,807
65,817
(45.6
)%
182,387
198,867
(8.3
)%
Income before income taxes
404,711
478,408
(15.4
)%
1,834,977
1,895,581
(3.2
)%
Income tax expense
77,884
83,100
(6.3
)%
354,580
347,218
2.1
%
Net income
326,827
395,308
(17.3
)%
1,480,397
1,548,363
(4.4
)%
Less: Net loss attributable to noncontrolling interest
(596
)
(1,046
)
(43.0
)%
(3,873
)
(4,086
)
(5.2
)%
Net income attributable to Copart, Inc.
$
327,423
$
396,354
(17.4
)%
$
1,484,270
$
1,552,449
(4.4
)%
Basic net income per common share
$
0.35
$
0.41
(14.6
)%
$
1.56
$
1.61
(3.1
)%
Weighted average common shares outstanding
927,067
967,100
(4.1
)%
949,640
965,306
(1.6
)%
Diluted net income per common share
$
0.35
$
0.41
(14.6
)%
$
1.55
$
1.59
(2.5
)%
Diluted weighted average common shares outstanding
932,140
977,778
(4.7
)%
956,860
977,563
(2.1
)%
Copart, Inc.
Consolidated Balance Sheets
(In thousands)
(Unaudited)
July 31, 2026
July 31, 2025
ASSETS
Current assets:
Cash, cash equivalents, and restricted cash
$
1,907,901
$
2,780,531
Investment in held to maturity securities
2,581,901
2,008,539
Accounts receivable, net of allowance for credit losses of $18,551 and $12,945, respectively
809,247
762,811
Vehicle pooling costs
122,948
116,145
Inventories
51,382
39,661
Income taxes receivable
49,856
580
Prepaid expenses and other assets
44,959
46,361
Total current assets
5,568,194
5,754,628
Property and equipment, net
3,733,220
3,598,093
Operating lease right-of-use assets
83,728
99,708
Intangibles, net
50,477
62,832
Goodwill
511,297
517,779
Other assets
80,894
57,862
Total assets
$
10,027,810
$
10,090,902
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable and accrued liabilities
$
634,675
$
591,831
Deferred revenue
32,466
30,440
Income taxes payable
21,437
41,141
Current portion of operating and finance lease liabilities
15,163
19,869
Total current liabilities
703,741
683,281
Deferred income taxes
127,918
80,625
Income taxes payable
9,067
35,635
Operating and finance lease liabilities, net of current portion
73,204
83,870
Total liabilities
913,930
883,411
Commitments and contingencies
Redeemable non controlling interest
16,585
20,458
Stockholders’ equity:
Preferred stock
-
-
Common stock
93
97
Additional paid-in capital
1,226,354
1,214,150
Accumulated other comprehensive loss
(109,778
)
(120,283
)
Retained earnings
7,980,626
8,093,069
Total stockholders’ equity
9,097,295
9,187,033
Total liabilities, redeemable noncontrolling interests and stockholders’ equity
$
10,027,810
$
10,090,902
Copart, Inc.
Consolidated Statements of Cash Flows
(In thousands)
(Unaudited)
Year Ended July 31,
2026
2025
Cash flows from operating activities:
Net income
$
1,480,397
$
1,548,363
Adjustments to reconcile net income to net cash provided by
operating activities:
Depreciation and amortization, including debt cost
238,466
217,784
Allowance for credit losses
5,599
354
Equity in losses (income) from unconsolidated affiliates
326
(149
)
Stock-based compensation
38,818
38,004
Loss (gain) on sale of property and equipment
1,130
(13,726
)
Deferred taxes
47,359
(13,440
)
Changes in operating assets and liabilities, net of effects from acquisitions:
Accounts receivable
(80,629
)
(33,950
)
Vehicle pooling costs
(6,358
)
16,705
Inventories
(11,443
)
4,655
Prepaid expenses and other current and non-current assets
(47,613
)
7,748
Operating lease right-of-use assets and lease liabilities
690
478
Accounts payable and accrued liabilities
32,507
69,599
Deferred revenue
1,908
2,159
Income taxes receivable
(49,277
)
(575
)
Income taxes payable
(47,388
)
(44,259
)
Net cash provided by operating activities
1,604,492
1,799,750
Cash flows from investing activities:
Purchases of property and equipment
(337,363
)
(568,990
)
Assets and liabilities acquired in connection with acquisition
(5,004
)
(1,223
)
Proceeds from sale of property and equipment
12,575
31,831
Investment in held to maturity securities
(2,889,072
)
(4,001,918
)
Proceeds from held to maturity securities
2,345,000
3,960,000
Investment in unconsolidated affiliate
(3,737
)
(7,148
)
Net cash used in investing activities
(877,601
)
(587,448
)
Cash flows from financing activities:
Proceeds from the exercise of stock options
16,702
42,759
Proceeds from the issuance of Employee Stock Purchase Plan shares
14,312
14,679
Repurchases of common stock
(1,632,538
)
—
Payments for employee stock-based tax withholdings
(3,736
)
(5,282
)
Debt issuance costs
(1,534
)
—
Payments of finance lease obligations
(60
)
(49
)
Net cash (used) provided by financing activities
(1,606,854
)
52,107
Effect of foreign currency translation
7,333
2,011
Net increase (decrease) in cash, cash equivalents, and restricted cash
(872,630
)
1,266,420
Cash, cash equivalents, and restricted cash at beginning of period
2,780,531
1,514,111
Cash, cash equivalents, and restricted cash at end of period
$
1,907,901
$
2,780,531
Supplemental disclosure of cash flow information:
Interest paid
$
1,866
$
2,019
Income taxes paid, net of refunds
$
398,380
$
409,003
Purchase of property and equipment through settlement of deposit
$
6,222
$
64,050
Copart, Inc.
Segments Information
(In thousands)
(Unaudited)
Three Months Ended July 31, 2026
Three Months Ended July 31, 2025
United States
International
Total
United States
International
Total
Service revenues
$
817,822
$
151,722
$
969,544
$
824,813
$
131,396
$
956,209
Vehicle sales
112,512
70,383
182,895
101,450
67,438
168,888
Total service revenues and vehicle sales
930,334
222,105
1,152,439
926,263
198,834
1,125,097
Facility operations
420,863
85,916
506,779
390,847
77,134
467,981
Cost of vehicle sales
105,671
58,540
164,211
95,155
52,243
147,398
General and administrative
91,649
20,896
112,545
82,793
14,334
97,127
Operating income
$
312,151
$
56,753
$
368,904
$
357,468
$
55,123
$
412,591
Year Ended July 31, 2026
Year Ended July 31, 2025
United States
International
Total
United States
International
Total
Service revenues
$
3,388,287
$
581,233
$
3,969,520
$
3,451,558
$
517,104
$
3,968,662
Vehicle sales
419,143
277,546
696,689
403,546
274,750
678,296
Total service revenues and vehicle sales
3,807,430
858,779
4,666,209
3,855,104
791,854
4,646,958
Facility operations
1,634,412
331,476
1,965,888
1,646,183
298,135
1,944,318
Cost of vehicle sales
391,028
225,435
616,463
378,100
224,897
602,997
General and administrative
362,950
68,318
431,268
349,935
52,994
402,929
Operating income
$
1,419,040
$
233,550
$
1,652,590
$
1,480,886
$
215,828
$
1,696,714