Copart Inc (CPRT)
Total asset 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 |
| Total assets | US$ in thousands | 8,427,760 | 6,737,880 | 5,308,860 | 4,562,140 | 3,455,260 |
| Total asset turnover | 0.51 | 0.59 | 0.66 | 0.59 | 0.64 |
July 31, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $4,256,810K ÷ $8,427,760K
= 0.51
The total asset turnover ratio for Copart Inc has been fluctuating over the past five years, ranging from 0.51 to 0.66. This ratio indicates how efficiently the company is generating sales in relation to its total assets. A higher total asset turnover ratio is generally preferred as it implies that the company is generating more revenue per dollar of assets.
In 2022, Copart Inc had the highest total asset turnover ratio of 0.66, which means that the company generated $0.66 in sales for every $1 of total assets. This indicates that the company was efficiently utilizing its assets to generate revenue during that year. However, in 2024, the total asset turnover ratio declined to 0.51, suggesting that the company might not have been utilizing its assets as efficiently to generate sales compared to the previous year.
Overall, the fluctuation in Copart Inc's total asset turnover ratio over the past five years indicates varying levels of asset efficiency and revenue generation. Further analysis of the company's operational performance and asset utilization would be necessary to better understand the factors driving these fluctuations in the total asset turnover ratio.
Peer comparison
Jul 31, 2024