Copart Inc. (CPRT) intrinsic value & 10-year financials
Copart Inc. (CPRT) has a Graham intrinsic value of $52.81 per share. At $29.15 on Oct 26, 2026, the stock trades 45% below that value. Over the last 10 fiscal years revenue grew 15.5% a year to $4.6B, with an average return on invested capital of 28.6%.
- Graham intrinsic value
- $52.81
- Share price (Oct 26, 2026)
- $29.15
- Price vs Graham value
- 45% below
- Market cap
- $28.5B
- Revenue (FY2025)
- $4.6B
- Revenue growth (10-yr CAGR)
- 15.5%
- ROIC (10-yr avg)
- 28.6%
- Free cash flow (FY2025)
- $1.2B
CPRT 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $4.6B | $1.6B | $1.59 | $1.2B | 36.5% | 21.7% |
| FY2024 | $4.2B | $1.4B | $1.40 | $961.6M | 37.1% | 21.3% |
| FY2023 | $3.9B | $1.2B | $1.28 | $847.6M | 38.4% | 27.2% |
| FY2022 | $3.5B | $1.1B | $1.13 | $839.2M | 39.3% | 34.1% |
| FY2021 | $2.7B | $936.5M | $0.97 | $527.9M | 42.2% | 34.0% |
| FY2020 | $2.2B | $699.9M | $0.73 | $325.9M | 37.0% | 32.4% |
| FY2019 | $2.0B | $591.7M | $0.61 | $272.8M | 35.1% | 32.5% |
| FY2018 | $1.8B | $417.9M | $0.43 | $247.2M | 32.4% | 27.6% |
| FY2017 | $1.4B | $394.2M | $0.41 | $319.9M | 31.9% | 31.5% |
| FY2016 | $1.3B | $270.4M | $0.28 | $158.6M | 32.0% | 23.5% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Copart is a consistent compounder, expanding top-line revenue at 15.5% annually over the past decade.
Copart has earned high returns on invested capital, averaging 28.6% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
Copart has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Copart is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $52.81 per share.