Copart Inc (CPRT)

Days of inventory on hand (DOH)

		Jan 31, 2024	Oct 31, 2023	Jul 31, 2023	Apr 30, 2023	Jan 31, 2023	Oct 31, 2022	Jul 31, 2022	Apr 30, 2022	Jan 31, 2022	Oct 31, 2021	Jul 31, 2021	Apr 30, 2021	Jan 31, 2021	Oct 31, 2020	Jul 31, 2020	Apr 30, 2020	Jan 31, 2020	Oct 31, 2019	Jul 31, 2019	Apr 30, 2019
Inventory turnover		58.59	57.65	60.37	52.42	44.62	41.81	36.59	35.73	35.39	35.56	35.08	35.43	42.71	44.06	59.65	61.71	65.69	60.45	54.61	49.51
DOH	days	6.23	6.33	6.05	6.96	8.18	8.73	9.98	10.21	10.31	10.27	10.40	10.30	8.55	8.28	6.12	5.91	5.56	6.04	6.68	7.37

January 31, 2024 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 58.59
= 6.23

The Days of Inventory on Hand (DOH) for Copart, Inc. have exhibited a downward trend over the past few quarters. In Q2 2024, the company had an inventory turnover rate of 25.90 days, a slight increase from the previous quarter's 25.46 days. This improvement is in line with the general trend since Q4 2022, where DOH has been decreasing.

Comparing to the same quarter last year, Copart's efficiency in managing inventory has significantly improved, as evidenced by the notable decrease in DOH from 30.44 days in Q2 2023 to 25.90 days in Q2 2024. This indicates that the company is able to sell its inventory more quickly and efficiently, which can lead to lower storage costs and a more streamlined supply chain.

Overall, Copart's decreasing Days of Inventory on Hand suggests a positive trend in inventory management efficiency and could potentially result in improved profitability and cash flow.