COPART Reports Record Fourth Quarter Earnings for Fiscal Year 2023
September 20, 2023
🌥️Earnings Overview
On July 31, 2023, COPART ($NASDAQ:CPRT) released its earnings for the fourth quarter of its fiscal year 2023, revealing a 12.9% year-over-year increase in total revenue, totaling USD 997.6 million. Additionally, net income rose by 31.9% compared to the same period in the previous year, amounting to USD 347.8 million.
Price History
The stock opened at $44.5 and closed at $44.8, up by 1.2% from the prior closing price of $44.3. This marks a continued surge in the company’s overall stock value, which has seen steady growth throughout the fiscal year. The impressive earnings report was an indication of the company’s strong financial performance in the fourth quarter and throughout the year.
It is clear that COPART is immensely successful and in a very strong position going into the next fiscal year. With continued growth predicted, this stock is sure to be a great investment opportunity for those looking to capitalize on the company’s success. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Copart. More…
| Total Revenues | Net Income | Net Margin |
| 3.87k | 1.24k | 32.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Copart. More…
| Operations | Investing | Financing |
| 1.36k | -1.89k | 66.61 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Copart. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 6.74k | 750.44 | 6.24 |
Key Ratios Snapshot
Some of the financial key ratios for Copart are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 20.6% | 22.1% | 38.4% |
| FCF Margin | ROE | ROA |
| 21.9% | 16.0% | 13.8% |
Analysis
As GoodWhale, we performed an analysis of COPART‘s wellbeing based on the Star Chart. COPART was classified as a ‘Gorilla’, which is a type of company that has achieved stable and high revenue or earnings growth due to its strong competitive advantage. This makes it an attractive prospect for investors looking for long-term, consistent returns from a company. Our analysis of COPART’s financials indicates that the company is strong in asset growth, profitability, and weak in dividend. However, it has a high health score of 10/10 with regard to its cashflows and debt, suggesting that it is capable to sustain future operations in times of crisis. Overall, COPART is a sound investment opportunity for those who are looking for long-term growth and stability. The company’s strong competitive advantage and healthy financials suggest that it will be able to continue to remain profitable and provide investors with consistent returns in the future. 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
Investors should be encouraged by COPART‘s fourth quarter financials for FY2023. Total revenue was up 12.9% year over year and net income rose by a substantial 31.9%. This growth can be attributed to the company’s strategic initiatives and investments in technology, which have enabled them to better serve customers and capture market share. The results suggest that COPART is well positioned to continue this momentum as we move into the new fiscal year.
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