Copart Inc (CPRT)

Debt-to-assets ratio

		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
Long-term debt	US$ in thousands	—	—	11,006	22,368	1,946	1,969	1,996	402,733	403,829	408,940	397,636	397,633	—	—	396,900	—	—	—	—	—
Total assets	US$ in thousands	7,598,520	7,333,790	6,737,880	6,349,800	5,932,410	5,593,680	5,308,860	5,443,870	5,136,960	4,918,850	4,562,140	4,281,950	3,934,440	3,741,190	3,455,260	3,161,580	3,048,600	2,855,940	2,547,620	2,391,760
Debt-to-assets ratio		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.07	0.08	0.08	0.09	0.09	0.00	0.00	0.11	0.00	0.00	0.00	0.00	0.00

January 31, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $7,598,520K
= 0.00

The debt-to-assets ratio of Copart, Inc. has been relatively stable over the past eight quarters. In Q4 2022 and Q2 2024, the ratio was at its lowest, standing at 0.00, indicating that the company had minimal debt relative to its total assets during those periods. In the remaining quarters, the ratio ranged from 0.02 to 0.10, suggesting that the company was maintaining a conservative level of debt compared to its asset base.

Overall, the consistent low debt-to-assets ratio indicates that Copart, Inc. has been managing its debt levels prudently and maintaining a strong financial position with a significant portion of its assets financed through equity rather than debt. This approach can provide the company with financial flexibility and reduce its risk of financial distress, especially during challenging economic conditions. Additionally, the stable nature of the ratio over time suggests that the company has been able to sustain its debt levels while effectively utilizing its assets to generate value for shareholders.