Latest Ratios: P/E Ratio 18.4x · EV/EBITDA 12.8x · ROE 18.5%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $27.1B | $44.3B | $51.0B | $42.7B | $30.9B | $35.3B | $22.3B | $18.6B | $13.9B | $7.5B | $6.2B |
| Enterprise Value | $24.4B | $41.6B | $49.6B | $41.9B | $29.6B | $34.8B | $22.3B | $18.9B | $14.0B | $7.9B | $6.7B |
| P/E Ratio → | 18.39 | 28.51 | 37.38 | 34.53 | 28.35 | 37.89 | 31.93 | 31.26 | 33.37 | 18.74 | 22.54 |
| P/S Ratio | 5.83 | 9.54 | 12.04 | 11.04 | 8.83 | 13.12 | 10.09 | 9.13 | 7.69 | 5.15 | 4.86 |
| P/B Ratio | 3.10 | 4.81 | 6.76 | 7.14 | 6.68 | 10.01 | 8.94 | 10.48 | 8.78 | 6.79 | 7.96 |
| P/FCF | 22.00 | 36.00 | 53.05 | 50.41 | 36.81 | 66.91 | 70.82 | 68.52 | 58.24 | 23.33 | 38.88 |
| P/OCF | 15.04 | 24.62 | 34.64 | 31.32 | 26.26 | 35.65 | 24.24 | 28.83 | 25.95 | 15.16 | 18.54 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 8.96 | 11.71 | 10.83 | 8.46 | 12.92 | 10.11 | 9.23 | 7.76 | 5.45 | 5.24 |
| EV / EBITDA | 12.75 | 21.77 | 28.15 | 25.45 | 19.58 | 27.65 | 24.22 | 23.52 | 21.13 | 15.21 | 14.62 |
| EV / EBIT | 14.38 | 21.96 | 31.56 | 28.18 | 21.55 | 30.46 | 27.32 | 26.10 | 24.03 | 17.00 | 15.85 |
| EV / FCF | — | 33.83 | 51.60 | 49.42 | 35.31 | 65.91 | 70.95 | 69.32 | 58.77 | 24.65 | 41.94 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 45.2% | 45.2% | 45.0% | 44.9% | 45.9% | 49.9% | 45.7% | 44.0% | 42.2% | 42.5% | 42.9% |
| Operating Margin | 36.5% | 36.5% | 37.1% | 38.4% | 39.3% | 42.2% | 37.0% | 35.1% | 32.4% | 31.9% | 32.0% |
| Net Profit Margin | 33.4% | 33.4% | 32.2% | 32.0% | 31.1% | 34.8% | 31.7% | 29.0% | 23.1% | 27.2% | 21.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 18.5% | 18.5% | 20.1% | 23.3% | 26.7% | 31.1% | 32.8% | 35.2% | 31.2% | 42.1% | 31.1% |
| ROA | 16.8% | 16.8% | 18.0% | 20.5% | 22.1% | 23.4% | 23.3% | 24.4% | 19.5% | 21.7% | 15.7% |
| ROIC | 20.1% | 20.1% | 20.9% | 26.2% | 32.4% | 30.8% | 27.1% | 29.0% | 27.2% | 24.9% | 25.3% |
| ROCE | 19.7% | 19.7% | 22.4% | 26.8% | 30.5% | 31.4% | 30.4% | 33.4% | 31.5% | 30.2% | 27.5% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.01 | 0.01 | 0.02 | 0.02 | 0.03 | 0.15 | 0.21 | 0.23 | 0.25 | 0.58 | 0.83 |
| Debt / EBITDA | 0.05 | 0.05 | 0.07 | 0.07 | 0.08 | 0.41 | 0.56 | 0.50 | 0.60 | 1.22 | 1.41 |
| Net Debt / Equity | — | -0.29 | -0.18 | -0.14 | -0.27 | -0.15 | 0.02 | 0.12 | 0.08 | 0.38 | 0.63 |
| Net Debt / EBITDA | -1.40 | -1.40 | -0.79 | -0.51 | -0.84 | -0.42 | 0.04 | 0.27 | 0.19 | 0.82 | 1.07 |
| Debt / FCF | — | -2.17 | -1.45 | -0.99 | -1.51 | -1.00 | 0.13 | 0.79 | 0.53 | 1.32 | 3.06 |
| Interest Coverage | — | — | — | — | 82.39 | 56.41 | 40.34 | 36.47 | 28.62 | 19.51 | 17.77 |
Net cash position: cash ($2.8B) exceeds total debt ($104M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 8.25 | 8.25 | 7.03 | 6.62 | 5.00 | 4.04 | 2.71 | 2.44 | 2.56 | 1.94 | 1.79 |
| Quick Ratio | 8.19 | 8.19 | 6.96 | 6.54 | 4.86 | 3.94 | 2.65 | 2.36 | 2.50 | 1.91 | 1.75 |
| Cash Ratio | 7.01 | 7.01 | 5.44 | 4.80 | 3.14 | 2.49 | 1.34 | 0.66 | 0.99 | 0.70 | 0.56 |
| Asset Turnover | — | 0.46 | 0.50 | 0.57 | 0.66 | 0.59 | 0.64 | 0.80 | 0.78 | 0.73 | 0.77 |
| Inventory Turnover | 64.23 | 64.23 | 53.38 | 53.35 | 32.23 | 30.01 | 59.65 | 54.61 | 62.35 | 81.96 | 69.68 |
| Days Sales Outstanding | — | 59.96 | 67.70 | 66.84 | 65.52 | 67.87 | 62.38 | 69.14 | 74.17 | 80.23 | 82.02 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.4% | 3.5% | 2.7% | 2.9% | 3.5% | 2.6% | 3.1% | 3.2% | 3.0% | 5.3% | 4.4% |
| FCF Yield | 4.5% | 2.8% | 1.9% | 2.0% | 2.7% | 1.5% | 1.4% | 1.5% | 1.7% | 4.3% | 2.6% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 2.0% | 0.0% | 0.0% | 7.4% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 2.0% | 0.0% | 0.0% | 7.4% |
| Shares Outstanding | — | $978M | $975M | $967M | $965M | $961M | $955M | $962M | $968M | $948M | $977M |
Used vehicle price normalization
According to current market data, Copart trades at a forward P/E of 19.27, which suggests investors are pricing in a premium for its structural moat and consistent earnings power relative to the broader industrial sector and its primary competitor, Openlane, Inc.
The current valuation multiple appears to reflect the market's confidence in the company's ability to maintain high margins despite cyclical headwinds in the salvage market. Investors should monitor whether the PEG ratio of 1.14 remains sustainable if revenue growth continues to decelerate from historical double-digit levels.
Based on reported financial figures, Copart's ROIC has fluctuated between 4.4% and 6.8% over the last ten quarters, indicating that while the company remains profitable, the massive accumulation of cash and land assets may be exerting downward pressure on overall capital efficiency metrics.
The trend in ROIC suggests that the company's aggressive reinvestment into physical yard infrastructure is a long-term play that may temporarily mask the true underlying return potential of the core auction business. Analysts should consider whether this capital-intensive strategy will eventually yield higher returns as the network matures.
As reported in recent quarterly filings, Copart's asset turnover remains low at 0.12, which is a direct consequence of its strategic decision to own rather than lease its extensive network of salvage yards, a choice that prioritizes long-term cost control over short-term capital velocity.
The negative cash conversion cycle observed in recent periods suggests that the company effectively utilizes its dominant market position to collect fees from insurance carriers before settling its own obligations. This efficiency in working capital management serves as a critical buffer against the inherent volatility of the salvage auction business.
Based on the latest balance sheet data, Copart maintains a current ratio of 7.61, an exceptionally high level of liquidity that indicates the company is operating with a significant cash cushion far beyond what is required for standard operational or debt-servicing needs.
This liquidity position provides the firm with substantial dry powder for strategic acquisitions or to weather severe industry downturns without external financing. However, the lack of deployment of this capital may warrant further investigation into whether management is being overly conservative at the expense of shareholder returns.
The Price-to-Book ratio is frequently misapplied to Copart, as it fails to account for the significant appreciation of the company's long-held real estate assets, which are carried at historical cost rather than current market value on the balance sheet.
Investors should instead focus on the company's ability to generate free cash flow and its return on invested capital, as the book value significantly understates the true economic value of the company's physical footprint. Relying on P/B may lead to an incorrect assessment of the company's valuation relative to its actual asset-backed competitive advantage.
Includes 30+ ratios · 30 years · Updated daily
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying CPRT stock.
Copart, Inc.'s current P/E ratio is 18.4x. The historical average is 25.2x. This places it at the 10th percentile of its historical range.
Copart, Inc.'s current EV/EBITDA is 12.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 14.9x.
Copart, Inc.'s return on equity (ROE) is 18.5%. The historical average is 20.8%.
Based on historical data, Copart, Inc. is trading at a P/E of 18.4x. This is at the 10th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Copart, Inc. has 45.2% gross margin and 36.5% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Copart, Inc.'s Debt/EBITDA ratio is 0.1x, indicating low leverage. A ratio below 2x is generally considered financially healthy.