Copart Inc (CPRT)
Current ratio
| Jul 31, 2023 | Jul 31, 2022 | Jul 31, 2021 | Jul 31, 2020 | Jul 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 3,262,600 | 2,202,460 | 1,702,610 | 963,759 | 687,167 |
| Total current liabilities | US$ in thousands | 492,769 | 440,889 | 421,031 | 356,044 | 282,004 |
| Current ratio | 6.62 | 5.00 | 4.04 | 2.71 | 2.44 |
July 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $3,262,600K ÷ $492,769K
= 6.62
The current ratio of Copart, Inc. has been consistently increasing over the past five years, indicating an improving ability to meet its short-term obligations. The ratio was 6.62 as of July 31, 2023, showing a significant increase from 5.00 in July 31, 2022. This suggests that the company's current assets are now 6.62 times its current liabilities, reflecting a strong short-term liquidity position. The trend signifies an enhanced ability to cover short-term financial obligations, which could result from efficient management of working capital or increases in current assets relative to current liabilities. This improvement suggests a solid financial position and may indicate the company's ability to pursue growth opportunities or withstand economic challenges without facing liquidity constraints.
Peer comparison
Jul 31, 2023