Copart Inc (CPRT)

Days of inventory on hand (DOH)

		Jul 31, 2024	Jul 31, 2023	Jul 31, 2022	Jul 31, 2021	Jul 31, 2020
Inventory turnover		61.97	60.37	36.58	35.05	59.65
DOH	days	5.89	6.05	9.98	10.41	6.12

July 31, 2024 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 61.97
= 5.89

The Days of Inventory on Hand (DOH) for Copart Inc have fluctuated over the past five years, indicating varying efficiency in managing its inventory levels. In July 2024, the company held inventory for an average of 5.89 days, showing an improvement from the previous year's 6.05 days. This decrease suggests that Copart Inc was able to sell its inventory more quickly, potentially indicating strong demand or effective inventory management strategies.

Comparing to earlier years, the DOH was notably higher in July 2022 and July 2021 at 9.98 days and 10.41 days, respectively. These higher DOH figures suggest that Copart Inc took longer to sell its inventory during those periods, which could have been due to various factors such as lower demand, increased inventory levels, or inefficiencies in inventory turnover.

However, in July 2020, the DOH was 6.12 days, similar to the most recent figure, indicating a stable inventory turnover rate. Overall, the trend in DOH for Copart Inc suggests some level of variability in inventory management efficiency over the years, and further analysis would be required to understand the factors driving these fluctuations and their impact on the company's overall operations and financial performance.