Copart Intrinsic Value Calculation – COPART Reports Strong Q1 Earnings Results for FY2024
December 8, 2023
☀️Earnings Overview
On November 16 2023, COPART ($NASDAQ:CPRT) announced their earnings results for the first quarter of FY2024, ending October 31 2023. The company reported a total revenue of USD 1020.4 million, an increase of 14.2% from the same period last year. Furthermore, their net income rose 35.3% year-over-year to USD 332.5 million.
Stock Price
COPART Inc. (NASDAQ: CPRT) reported strong results for their first quarter of FY2024 on Thursday, sending shares up slightly. The company’s stock opened at $49.4 and closed at $49.3, up by 0.2% from the prior closing price of $49.2. This positive performance made it the third consecutive quarter of improved performance for COPART, who had posted a loss in the same quarter last year. This growth was driven by strong demand for used vehicles, as well as the company’s ability to increase both their online and offline presence in the market. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Copart. COPART_Reports_Strong_Q1_Earnings_Results_for_FY2024″>More…
| Total Revenues | Net Income | Net Margin |
| 4k | 1.32k | 33.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Copart. COPART_Reports_Strong_Q1_Earnings_Results_for_FY2024″>More…
| Operations | Investing | Financing |
| 1.43k | -504.25 | 73.26 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Copart. COPART_Reports_Strong_Q1_Earnings_Results_for_FY2024″>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 7.33k | 897.15 | 6.68 |
Key Ratios Snapshot
Some of the financial key ratios for Copart are shown below. COPART_Reports_Strong_Q1_Earnings_Results_for_FY2024″>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 21.2% | 22.3% | 39.3% |
| FCF Margin | ROE | ROA |
| 22.6% | 15.8% | 13.4% |
Analysis – Copart Intrinsic Value Calculation
At GoodWhale, we recently conducted an analysis of COPART‘s wellbeing. Our proprietary Valuation Line calculated an intrinsic value of COPART’s shares at $41.5, while the stock is currently being traded at $49.3. This means that the stock is currently overvalued by 18.8%. At GoodWhale, we believe the stock is currently fair priced and our analysis suggests that investors should approach COPART shares with caution. We recommend that investors should consider other option for their investment portfolios, such as real estate investments or alternative investments such as cryptocurrency. More…
Peers
Some of its competitors are Alpine Auto Brokers Inc, NowAuto Inc, and Vaksons Automobiles Ltd.
– Alpine Auto Brokers Inc ($OTCPK:ALTB)
Alpine Auto Brokers Inc is a publicly traded company with a market capitalization of 1.61 billion as of 2022. The company has a return on equity of 672.61%. Alpine Auto Brokers Inc is a car dealership that specializes in the sale of new and used vehicles. The company has a network of dealerships across the United States. Alpine Auto Brokers Inc also offers financing options for its customers.
– NowAuto Inc ($OTCPK:NWAU)
Vaksons Automobiles Ltd is an Indian company that manufactures and sells passenger cars, trucks, and buses. The company has a market cap of 167.28M as of 2022 and a Return on Equity of -0.15%. Vaksons Automobiles Ltd has been in business since 1967 and has its headquarters in New Delhi, India.
Summary
COPART is a stock worth watching for investors due to its impressive performance in the first quarter of FY2024. Total revenue for the quarter rose 14.2% year-over-year to USD 1020.4 million, while net income increased 35.3% to USD 332.5 million. Investors looking for opportunities should keep an eye on the company’s financials and consider adding COPART to their portfolios.
