Copart Inc (CPRT)
Quick ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 2,780,530 | 2,366,500 | 3,338,910 | 3,698,120 | 1,514,110 | 1,090,000 | 1,256,950 | 2,581,570 | 957,395 | 2,114,180 | 1,660,950 | 1,539,390 | 1,384,240 | 1,454,820 | 971,651 | 1,298,370 | 1,048,260 | 911,890 | 616,403 | 605,732 |
| Short-term investments | US$ in thousands | 2,008,540 | 2,017,840 | 458,542 | 0 | 1,908,050 | 2,000,330 | 1,411,120 | 48,982 | 1,406,590 | — | — | — | — | 224,889 | 374,866 | — | — | — | — | — |
| 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 |
| Total current liabilities | US$ in thousands | 683,281 | 657,132 | 629,637 | 714,855 | 628,567 | 563,419 | 526,023 | 624,417 | 492,769 | 506,564 | 487,623 | 504,477 | 440,889 | 449,095 | 417,860 | 491,911 | 421,031 | 413,045 | 371,015 | 407,536 |
| Quick ratio | 8.13 | 7.83 | 7.51 | 6.29 | 6.69 | 6.99 | 6.71 | 5.42 | 6.24 | 5.54 | 4.98 | 4.31 | 4.57 | 5.05 | 4.77 | 3.78 | 3.68 | 3.29 | 2.93 | 2.49 |
July 31, 2025 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($2,780,530K
+ $2,008,540K
+ $762,811K)
÷ $683,281K
= 8.13
The analysis of Copart Inc.'s quick ratio over the specified period reveals a consistent and significant strengthening of its liquidity position. Beginning with a ratio of 2.49 as of October 31, 2020, the quick ratio exhibits a steady upward trend, reaching 8.13 by July 31, 2025. This increase indicates an enhanced capacity to meet short-term liabilities using liquid assets, primarily excluding inventory, which is consistent with the company's reliance on liquid assets such as cash and accounts receivable.
Throughout the observed timeline, the quick ratio has maintained levels substantially above 1.0, suggesting that the company possesses ample liquid assets relative to its current liabilities and thus maintains a comfortable liquidity buffer. The notable rise from approximately 2.49 in late 2020 to over 8.0 in mid-2025 signifies improved financial health and operational efficiency in managing short-term assets.
This upward trajectory indicates a deliberate or naturally efficient accumulation of liquid assets relative to current liabilities, positioning Copart to sustain its operations and potentially absorb unexpected financial shocks. The sustained high ratios reflect prudent liquidity management and suggest that the company is in a robust position to meet short-term obligations without reliance on inventory liquidation or external financing.