Copart Inc (CPRT)
Days of inventory on hand (DOH)
| Jul 31, 2025 | Apr 30, 2025 | Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Inventory turnover | 64.23 | 57.03 | 42.08 | 45.95 | 53.38 | 48.40 | 51.27 | 50.79 | 53.35 | 46.54 | 39.55 | 37.01 | 32.23 | 31.31 | 30.82 | 30.68 | 30.01 | 31.44 | 39.36 | 42.29 | |
| DOH | days | 5.68 | 6.40 | 8.67 | 7.94 | 6.84 | 7.54 | 7.12 | 7.19 | 6.84 | 7.84 | 9.23 | 9.86 | 11.33 | 11.66 | 11.84 | 11.90 | 12.16 | 11.61 | 9.27 | 8.63 |
July 31, 2025 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 64.23
= 5.68
The analysis of Copart Inc.'s days of inventory on hand (DOH) over the specified periods reveals notable fluctuations and a general trend toward efficiency in inventory management. Starting from 8.63 days as of October 31, 2020, the DOH increased steadily, peaking at approximately 12.16 days on July 31, 2021. This upward movement suggests a period during which the company maintained or accumulated inventory for longer durations, potentially reflecting strategic stockpiling or operational adjustments.
Subsequently, the DOH demonstrated a downward trend beginning in late 2021 and extending into 2022 and beyond. From a high of nearly 11.90 days in October 2021, the ratio decreased to around 9.86 days by October 2022. This decline signifies an increase in inventory turnover efficiency, reducing the number of days inventory is held intraday. The most pronounced reduction was observed between April 30, 2022, and July 31, 2023, where the DOH dropped consistently, reaching a low of approximately 6.84 days in July 2023.
Post-July 2023, the DOH experienced slight fluctuations, increasing marginally to about 7.19 days by October 2023, and continuing in a relatively stable range through early 2024. By January 2024, the DOH was approximately 7.12 days, slightly increasing to 7.54 days in April 2024. The trend resumed its decline afterward, with the DOH falling to around 6.84 days as of July 2024, followed by a modest increase to nearly 7.94 days in October 2024.
Looking into the future estimates, there is an indication of further variability, with the DOH projected to decrease to approximately 5.68 days by July 2025, reflecting a significant increase in inventory turnover efficiency. Overall, the data indicates that Copart Inc. has been progressively optimizing its inventory management, reducing the number of days inventory is held on hand, which is typically associated with improved operational efficiency and faster inventory turnover.