Copart Inc (CPRT)

Receivables 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
Revenue (ttm)	US$ in thousands	4,255,687	4,318,170	4,194,000	4,111,004	3,955,141	3,787,204	3,682,543	3,573,966	3,480,629	3,362,071	3,155,086	2,904,141	2,688,209	2,466,243	2,284,539	2,243,897	2,205,583	2,222,499	2,225,255	2,135,013
Receivables	US$ in thousands	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	376,947	377,822	514,378	442,679
Receivables turnover		5.42	5.10	4.86	5.44	5.58	5.46	4.81	5.64	5.54	5.72	4.88	5.16	5.37	5.54	4.87	5.49	5.85	5.88	4.33	4.82

July 31, 2024 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $4,255,687K ÷ $785,877K
= 5.42

The receivables turnover ratio for Copart Inc has shown some fluctuations over the past several periods, ranging from a low of 4.33 to a high of 5.88. The ratio measures how many times a company converts its accounts receivable into cash during a specific period, reflecting how efficiently the company is managing its credit sales and collecting payments from customers.

On average, the receivables turnover ratio for Copart Inc over the time period analyzed is approximately 5.36, indicating that, on average, the company collects its outstanding receivables about 5.36 times per year. A higher ratio generally reflects that the company is more effective at collecting payments from customers in a timely manner.

It is worth noting that there have been some fluctuations in the ratio over time, which could be attributed to various factors such as changes in the company's credit policies, customer payment behaviors, or economic conditions affecting the industry. Overall, a consistently high or improving receivables turnover ratio is typically seen as a positive indicator of a company's financial health and efficiency in managing its accounts receivable.