Copart Inc (CPRT)
Receivables turnover
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 4,646,970 | 4,590,870 | 4,506,410 | 4,363,240 | 4,236,830 | 4,165,421 | 4,059,991 | 3,996,565 | 3,869,517 | 3,755,314 | 3,673,425 | 3,584,161 | 3,500,921 | 3,366,163 | 3,160,132 | 2,909,703 | 2,692,511 | 2,469,540 | 2,285,990 | 2,244,099 |
| Receivables | US$ in thousands | 762,811 | 757,843 | 930,985 | 801,840 | 785,877 | 846,052 | 863,387 | 756,053 | 708,612 | 694,262 | 765,628 | 634,225 | 628,455 | 587,495 | 646,055 | 563,174 | 500,640 | 445,461 | 468,903 | 408,812 |
| Receivables turnover | 6.09 | 6.06 | 4.84 | 5.44 | 5.39 | 4.92 | 4.70 | 5.29 | 5.46 | 5.41 | 4.80 | 5.65 | 5.57 | 5.73 | 4.89 | 5.17 | 5.38 | 5.54 | 4.88 | 5.49 |
July 31, 2025 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $4,646,970K ÷ $762,811K
= 6.09
The receivables turnover ratio for Copart Inc. over the analyzed period demonstrates a pattern of fluctuation within a generally moderate range. Starting at 5.49 times as of October 31, 2020, there was a decline by the end of January 2021 to 4.88 times. Subsequently, the ratio increased to 5.54 times in April 2021, indicating improved efficiency in collecting receivables early in 2021, before experiencing a slight decrease to 5.17 times by October 2021.
In the subsequent period, the ratio declined further to 4.89 times by January 2022, then increased again to a peak of 5.73 times in April 2022, suggesting periods of both improvement and contraction in receivables collection efficiency. The ratio maintained a relatively high level of 5.57 times in July 2022 and further increased to 5.65 times by October 2022, indicating a consistent ability to collect receivables efficiently during this timeframe.
From late 2022 into 2023, the ratio exhibited some downward movement with values of 4.80 times in January 2023 and 5.41 times in April 2023, but remained relatively stable around the mid-5s in the following quarters. Notably, the ratio dipped again to 4.70 times in January 2024, before recovering to 4.92 in April 2024 and climbing back to approximately 5.39 in July 2024 and 5.44 in October 2024.
Looking forward into early 2025, the receivables turnover ratio shows a slight decrease to 4.84 times in January. However, there is a marked upward trend starting in April 2025 with a ratio of 6.06, followed by a further increase to 6.09 in July 2025. This upward movement suggests a significant improvement in the efficiency of receivables collection in the most recent observed period.
Overall, the data indicates that Copart Inc. has maintained a relatively stable receivables turnover ratio over the observed period, oscillating roughly between 4.7 and 5.7 times. The recent upward trend at the start of 2025 may reflect strategic improvements or operational efficiencies leading to quicker collection of receivables. The overall fluctuation within this range suggests consistent management of receivables, with the most recent data pointing toward enhanced collection efficiency.