Copart(CPRT) - 2025 Q4 - Annual Results

Financial Results Overview Fourth Quarter Fiscal 2025 Financial Results Copart reported strong fourth quarter fiscal 2025 results, demonstrating significant year-over-year growth in revenue, gross profit, net income, and diluted earnings per share Q4 FY2025 Financial Performance (YoY Change) | Metric | Q4 FY2025 (Millions) | Q4 FY2024 (Millions) | % Change | | :--------------------------------- | :------------------- | :------------------- | :------- | | Revenue | $1,100 | $1,043.9 | 5.2% | | Gross Profit | $510 | $453.9 | 12.4% | | Net Income Attributable to Copart, Inc. | $396 | $322.2 | 22.9% | | Fully Diluted EPS | $0.41 | $0.33 | 24.2% | - Revenue increased by $56.1 million, or 5.2%, compared to the same period last year[4] - Net income attributable to Copart, Inc. increased by $73.8 million, or 22.9%, year-over-year[4] Full Year Fiscal 2025 Financial Results For the full fiscal year ended July 31, 2025, Copart achieved substantial growth across its key financial indicators, including revenue, gross profit, net income, and diluted earnings per share Full Year FY2025 Financial Performance (YoY Change) | Metric | FY2025 (Millions) | FY2024 (Millions) | % Change | | :--------------------------------- | :---------------- | :---------------- | :------- | | Revenue | $4,600 | $4,189.9 | 9.7% | | Gross Profit | $2,100 | $1,907.6 | 10.1% | | Net Income Attributable to Copart, Inc. | $1,600 | $1,410.6 | 13.9% | | Fully Diluted EPS | $1.59 | $1.40 | 13.6% | - Revenue for the year increased by $410.1 million, or 9.7%, from the prior year[5] - Net income attributable to Copart, Inc. increased by $189.4 million, or 13.9%, compared to the previous fiscal year[5] Company Overview Copart, Inc. is a global leader in online vehicle auctions, leveraging innovative technology to connect consignors with a vast international buyer network - Copart, Inc., founded in 1982, is a global leader in online vehicle auctions[7] - The company's innovative technology and online auction platforms connect vehicle consignors to approximately 1 million members in over 185 countries[7] - Copart offers a comprehensive suite of vehicle remarketing services to various clients, including insurance companies, financial institutions, dealers, rental car companies, charities, fleet operators, and individuals[7] - With operations at over 250 locations in 11 countries, Copart sold more than 4 million units in the last year[7] Conference Call Information Copart will host a conference call on September 4, 2025, to discuss quarterly results, accessible via live webcast and replay - Copart will conduct a conference call on Thursday, September 4, 2025, at 5:30 p.m. Eastern Time to discuss the quarterly results[6] - The call will be webcast live and accessible at www.copart.com/investorrelations, with a replay available through November 2025[6] Cautionary Note About Forward-Looking Statements This section advises investors that the press release contains forward-looking statements subject to risks and uncertainties, recommending review of SEC filings - This press release contains forward-looking statements subject to substantial risks and uncertainties, as defined by federal securities laws[10] - Investors are encouraged to review Copart's latest Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K for a complete discussion of risks that could affect the business[10] - The company does not undertake to update any forward-looking statements[10] Consolidated Financial Statements Consolidated Statements of Income The Consolidated Statements of Income reflect strong financial performance for both the three and twelve months ended July 31, 2025, with notable increases in service revenues, gross profit, operating income, and net income attributable to Copart, Inc Consolidated Statements of Income (Three Months Ended July 31, 2025 vs. 2024) | Metric | 2025 (in thousands) | 2024 (in thousands) | % Change | | :--------------------------------- | :------------------ | :------------------ | :------- | | Service revenues | $956,209 | $893,091 | 7.1 % | | Total service revenues and vehicle sales | $1,125,097 | $1,068,999 | 5.2 % | | Gross profit | $509,718 | $453,576 | 12.4 % | | Operating income | $412,591 | $359,544 | 14.8 % | | Net income attributable to Copart, Inc. | $396,354 | $322,567 | 22.9 % | | Diluted net income per common share | $0.41 | $0.33 | 24.2 % | Consolidated Statements of Income (Twelve Months Ended July 31, 2025 vs. 2024) | Metric | 2025 (in thousands) | 2024 (in thousands) | % Change | | :--------------------------------- | :------------------ | :------------------ | :------- | | Service revenues | $3,968,662 | $3,561,002 | 11.4 % | | Total service revenues and vehicle sales | $4,646,958 | $4,236,823 | 9.7 % | | Gross profit | $2,099,643 | $1,907,252 | 10.1 % | | Operating income | $1,696,714 | $1,572,023 | 7.9 % | | Net income attributable to Copart, Inc. | $1,552,449 | $1,363,020 | 13.9 % | | Diluted net income per common share | $1.59 | $1.40 | 13.6 % | - Total operating expenses for the twelve months ended July 31, 2025, increased by 10.7% to $2,950,244 thousand[13] Consolidated Balance Sheets Copart's Consolidated Balance Sheets as of July 31, 2025, show a significant increase in total assets, primarily driven by a substantial rise in cash and cash equivalents, alongside a healthy growth in stockholders' equity Consolidated Balance Sheets Highlights (As of July 31, 2025 vs. 2024) | Metric | July 31, 2025 (in thousands) | July 31, 2024 (in thousands) | | :--------------------------------- | :--------------------------- | :--------------------------- | | Total assets | $10,090,902 | $8,427,764 | | Cash, cash equivalents, and restricted cash | $2,780,531 | $1,514,111 | | Property and equipment, net | $3,598,093 | $3,175,838 | | Total liabilities | $883,411 | $879,209 | | Total stockholders' equity | $9,187,033 | $7,524,011 | - Cash, cash equivalents, and restricted cash increased by $1,266,420 thousand (83.6%) year-over-year[15] - Total assets grew by $1,663,138 thousand (19.7%) from the previous fiscal year-end[15] Consolidated Statements of Cash Flows The Consolidated Statements of Cash Flows indicate robust cash generation from operating activities in fiscal year 2025, contributing to a significant net increase in cash and cash equivalents, despite substantial investments in property and equipment and held-to-maturity securities Consolidated Statements of Cash Flows (Year Ended July 31, 2025 vs. 2024) | Metric | 2025 (in thousands) | 2024 (in thousands) | | :--------------------------------- | :------------------ | :------------------ | | Net cash provided by operating activities | $1,799,750 | $1,472,564 | | Net cash used in investing activities | $(587,448) | $(940,079) | | Net cash provided by financing activities | $52,107 | $19,273 | | Net increase in cash, cash equivalents, and restricted cash | $1,266,420 | $556,716 | | Cash, cash equivalents, and restricted cash at end of period | $2,780,531 | $1,514,111 | - Net cash provided by operating activities increased by $327,186 thousand (22.2%) year-over-year[18] - Purchases of property and equipment amounted to $568,990 thousand in FY2025, an increase from $510,990 thousand in FY2024[18]