Copart Inc (CPRT)
Payables turnover
| 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 | Jul 31, 2020 | Apr 30, 2020 | Jan 31, 2020 | Oct 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 2,704,214 | 2,596,838 | 2,508,291 | 2,457,641 | 2,413,272 | 2,358,992 | 2,323,421 | 2,252,404 | 2,150,887 | 2,036,436 | 1,874,961 | 1,713,551 | 1,577,605 | 1,389,984 | 1,289,965 | 1,244,539 | 1,197,781 | 1,222,509 | 1,216,299 | 1,177,720 |
| Payables | US$ in thousands | 193,333 | — | — | — | 180,016 | — | — | — | 187,170 | — | — | — | 163,237 | — | — | — | 132,919 | — | — | — |
| Payables turnover | 13.99 | — | — | — | 13.41 | — | — | — | 11.49 | — | — | — | 9.66 | — | — | — | 9.01 | — | — | — |
July 31, 2024 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $2,704,214K ÷ $193,333K
= 13.99
The payables turnover ratio for Copart Inc has been fluctuating over the periods presented. It stood at 13.99 as of July 31, 2024, showing a significant improvement from the previous measurement of 13.41 as of July 31, 2023. This indicates that the company is paying off its suppliers more frequently within the year. However, it is worth noting that there are gaps in the data, as some periods do not have available payables turnover figures.
The trend displayed in the available data suggests that Copart Inc has been managing its payables effectively and efficiently, with a general improvement in the turnover ratio over the periods mentioned. This indicates a healthy relationship with its suppliers, as the company is able to settle its payables in a timely manner. Additionally, a higher payables turnover ratio can also imply a shorter cash conversion cycle, which may be beneficial for the company's working capital management.
Further analysis across additional periods could provide a more comprehensive understanding of the company's payables turnover performance and could help in identifying any seasonal or cyclical patterns impacting the ratio.
Peer comparison
Jul 31, 2024