Copart, Inc. (CPRT) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-26.4%

$23.54

vs $31.98 price

Levered DCF

$21.20

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

22.17

Safe zone

Rating

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	18.67×	28.16×	36.85×	34×	28.02×	37.12×	31.08×	30.28×
P/B	3.04×	4.76×	6.68×	7.04×	6.62×	9.84×	8.73×	10.05×
P/S	5.93×	9.42×	11.87×	10.89×	8.74×	12.9×	9.86×	8.75×
EV / EBITDA	12.51×	19.46×	25.66×	24.1×	19.6×	27.03×	23.62×	22.33×
Gross margin	44.7%	45.2%	45.0%	44.9%	45.9%	49.9%	45.7%	44.0%
Operating margin	35.4%	36.5%	37.1%	38.4%	39.3%	42.2%	37.0%	35.1%
Net margin	31.8%	33.4%	32.2%	32.0%	31.1%	34.8%	31.7%	29.0%
Current ratio	7.91×	8.25×	7.03×	6.62×	5×	4.04×	2.71×	2.44×
Debt / equity	0.01×	0.01×	0.02×	0.02×	0.03×	0.15×	0.21×	0.23×
Interest coverage	0×	0×	0×	0×	82.39×	56.13×	40.34×	36.17×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	16.3%	16.9%	18.1%	20.7%	23.6%	26.5%	28.1%	33.3%
Return on invested capital	14.3%	14.7%	16.0%	18.9%	22.9%	22.8%	22.8%	26.5%
Return on assets	14.8%	15.4%	16.2%	18.4%	20.5%	20.5%	20.3%	23.2%
Free cash flow yield	4.6%	2.8%	1.9%	2.0%	2.7%	1.5%	1.4%	1.5%
Earnings yield	5.4%	3.5%	2.7%	2.9%	3.6%	2.7%	3.2%	3.3%
Enterprise value	$25.8B	$41.1B	$48.9B	$41.3B	$29.3B	$34.2B	$21.8B	$18.1B
Net debt / EBITDA	-0.88×	-1.27×	-0.73×	-0.49×	-0.85×	-0.42×	0.04×	0.27×
Cash conversion cycle (days)	-19	35	44	43	41	36	28	39