Copart Inc (CPRT)

Total asset turnover

		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	Jul 31, 2019	Apr 30, 2019
Revenue (ttm)	US$ in thousands	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	2,041,957	1,948,605
Total assets	US$ in thousands	7,598,520	7,333,790	6,737,880	6,349,800	5,932,410	5,593,680	5,308,860	5,443,870	5,136,960	4,918,850	4,562,140	4,281,950	3,934,440	3,741,190	3,455,260	3,161,580	3,048,600	2,855,940	2,547,620	2,391,760
Total asset turnover		0.55	0.56	0.59	0.60	0.62	0.64	0.66	0.62	0.61	0.59	0.59	0.58	0.58	0.60	0.64	0.70	0.73	0.75	0.80	0.81

January 31, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $4,194,000K ÷ $7,598,520K
= 0.55

Copart, Inc.'s total asset turnover has been showing a declining trend over the past few quarters. The ratio decreased from 0.66 in Q4 2022 to 0.53 in Q2 2024. This indicates that the company generated $0.53 in revenue for every $1 of total assets in Q2 2024.

A decreasing total asset turnover may suggest that Copart, Inc. is not efficiently utilizing its assets to generate sales. It could indicate inefficiencies in managing its inventory, collecting receivables, or turning assets into revenue.

Further analysis should be conducted to understand the reasons behind this decline and to identify potential areas for improvement in asset utilization efficiency within the company.