Copart Inc (CPRT)

Debt-to-assets ratio

		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	Jul 31, 2020	Apr 30, 2020	Jan 31, 2020	Oct 31, 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	8,427,760	8,010,630	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
Debt-to-assets ratio		0.00	0.00	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

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 few quarters, with values ranging from 0.00 to 0.11. This indicates that the company relies less on debt financing to fund its operations and investments, compared to the proportion of assets it owns outright. The negligible debt levels suggest a strong financial position and potentially lower financial risk. It is worth noting that there was a slight increase in the ratio in the recent quarters, reaching 0.11 in October 2020. However, this increase was relatively small and the ratio remains at a modest level overall.