Copart Inc (CPRT)
Operating profit margin
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating income (ttm) | US$ in thousands | 1,696,714 | 1,643,667 | 1,629,325 | 1,583,014 | 1,572,023 | 1,603,096 | 1,584,817 | 1,570,442 | 1,486,569 | 1,420,745 | 1,374,576 | 1,356,379 | 1,374,997 | 1,351,704 | 1,307,060 | 1,217,953 | 1,136,426 | 1,040,641 | 907,631 | 859,302 |
| Revenue (ttm) | US$ in thousands | 4,646,970 | 4,590,870 | 4,506,410 | 4,363,240 | 4,236,830 | 4,165,421 | 4,059,991 | 3,996,565 | 3,869,517 | 3,755,314 | 3,673,425 | 3,584,161 | 3,500,921 | 3,366,163 | 3,160,132 | 2,909,703 | 2,692,511 | 2,469,540 | 2,285,990 | 2,244,099 |
| Operating profit margin | 36.51% | 35.80% | 36.16% | 36.28% | 37.10% | 38.49% | 39.03% | 39.29% | 38.42% | 37.83% | 37.42% | 37.84% | 39.28% | 40.16% | 41.36% | 41.86% | 42.21% | 42.14% | 39.70% | 38.29% |
July 31, 2025 calculation
Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $1,696,714K ÷ $4,646,970K
= 36.51%
The analysis of Copart Inc.'s operating profit margin over the period from October 2020 to July 2025 reveals a generally stable yet slightly declining trend. Starting at 38.29% in October 2020, the operating profit margin showed an upward trajectory, reaching a peak of approximately 42.21% by July 2021. During this period, the company's operations demonstrated strong profitability, reflecting potentially effective cost management or favorable revenue growth.
Subsequently, the margin exhibited a gradual decline, with intermittent fluctuations. By October 2022, it had decreased to 37.84%, and this downward trend continued into April 2023 at approximately 37.83%. There was minor recovery noted in July 2023, with the margin rising to 38.42%, indicating short-term improvements in operating efficiency or product mix.
From October 2023 onwards, the margin trended downward again, reaching 36.28% in October 2024. Although there were slight rebounds (e.g., 36.51% in July 2025), the overall trend during this period suggests a moderate erosion of operating profitability. The margin's decline could be attributed to factors such as increased operating expenses, competitive pressures, or shifts in revenue streams.
In conclusion, while Copart Inc. demonstrated strong operating margins in the early 2021 period, the sustained slight decline over subsequent years indicates persistent pressures on profit efficiency. Nonetheless, the margins remain within a relatively stable range, implying resilient core operations despite evolving market dynamics.