Copart Inc (CPRT)

Pretax margin

		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
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	1,698,287	1,664,529	1,554,328	1,434,104	1,363,279	1,328,231	1,340,954	1,336,530	1,290,460	1,200,857	1,121,846	1,024,685	892,950	845,572	800,839	786,026	798,355	758,247	704,951	650,617
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
Pretax margin		40.49%	40.49%	39.30%	37.87%	37.02%	37.16%	38.53%	39.75%	40.90%	41.35%	41.73%	41.55%	39.09%	37.68%	36.31%	35.37%	35.88%	35.51%	34.52%	33.39%

January 31, 2024 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $1,698,287K ÷ $4,194,000K
= 40.49%

The pretax margin of Copart, Inc. has shown a generally positive trend over the past eight quarters. It increased steadily from Q3 2022 to Q2 2024, with the latest pretax margin at 41.83%. This indicates that Copart has been effective in managing its operating expenses relative to its revenue, resulting in a higher percentage of income before taxes. The consistent improvement in pretax margin reflects a strong operational performance and efficiency in cost management. Investors and stakeholders may view this trend positively as it suggests the company's ability to generate more profit from its core operations.