Copart Inc (CPRT)

Receivables turnover

		Jul 31, 2024	Jul 31, 2023	Jul 31, 2022	Jul 31, 2021	Jul 31, 2020
Revenue	US$ in thousands	4,256,810	3,956,090	3,481,860	2,689,660	2,205,580
Receivables	US$ in thousands	785,877	708,612	628,455	500,640	376,947
Receivables turnover		5.42	5.58	5.54	5.37	5.85

July 31, 2024 calculation

Receivables turnover = Revenue ÷ Receivables
= $4,256,810K ÷ $785,877K
= 5.42

Copart Inc's receivables turnover has been relatively stable over the past five years, ranging from 5.37 to 5.85 times. This ratio indicates that, on average, Copart collects its accounts receivable approximately 5.42 times a year, implying that the company efficiently converts its receivables into cash. A higher receivables turnover ratio suggests that the company has a strong ability to collect its outstanding payments from customers in a timely manner. Despite some fluctuations, the overall trend shows a consistent performance in managing its receivables effectively. Further analysis would involve comparing this ratio with industry benchmarks or trends to assess Copart's efficiency in collecting payments compared to its peers.