Copart Inc (CPRT)

Debt-to-assets ratio

		Jul 31, 2024	Jul 31, 2023	Jul 31, 2022	Jul 31, 2021	Jul 31, 2020
Long-term debt	US$ in thousands	—	11,006	1,996	397,636	396,900
Total assets	US$ in thousands	8,427,760	6,737,880	5,308,860	4,562,140	3,455,260
Debt-to-assets ratio		0.00	0.00	0.00	0.09	0.11

July 31, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $8,427,760K
= 0.00

The debt-to-assets ratio of Copart Inc has been consistently low over the past five years, with values of 0.00 for the fiscal years ending in July 31st of 2020, 2021, 2022, and 2023. This indicates that the company has not relied heavily on debt to finance its operations during this period. However, there was a slight increase in the ratio to 0.09 in July 31, 2021, and 0.11 in July 31, 2020, suggesting a small proportion of debt relative to assets in those years. Overall, the trend in the debt-to-assets ratio points towards a conservative financial strategy with limited reliance on borrowing to fund its operations and investments.