Copart Inc (CPRT)

Debt-to-capital 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 stockholders’ equity	US$ in thousands	6,812,710	6,436,640	5,987,440	5,592,420	5,213,650	4,852,830	4,625,600	4,353,050	4,089,860	3,793,820	3,529,200	3,249,380	2,942,590	2,710,830	2,489,520	2,281,010	2,124,730	1,926,600	1,778,380	1,618,850
Debt-to-capital ratio		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.08	0.09	0.10	0.10	0.11	0.00	0.00	0.14	0.00	0.00	0.00	0.00	0.00

January 31, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $6,812,710K)
= 0.00

The debt-to-capital ratio of Copart, Inc. has shown consistency and stability in recent quarters. The ratio has been consistently low, hovering around 0.02 in the past four quarters, indicating that the company relies minimally on debt to finance its operations and investments.

The only deviation from this trend was observed in Q3 2022 when the ratio spiked to 0.11. However, this was an isolated instance and not indicative of a systemic increase in debt relative to capital.

Overall, the low and consistent debt-to-capital ratio suggests that Copart, Inc. maintains a healthy balance between debt and equity in its capital structure, which may indicate lower financial risk and better solvency.