Copart Inc (CPRT)
Debt-to-capital 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 stockholders’ equity | US$ in thousands | 7,548,560 | 7,196,190 | 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 |
| Debt-to-capital ratio | 0.00 | 0.00 | 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 |
July 31, 2024 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $7,548,560K)
= 0.00
The debt-to-capital ratio for Copart Inc has shown variability over the past several quarters. The ratio was consistently at 0.00 for the first nine quarters from Oct 31, 2019, to Jan 31, 2022. However, starting from Apr 30, 2022, the ratio began to increase, reaching 0.10 by Jan 31, 2022, and 0.11 by Apr 30, 2022.
After a slight decrease to 0.09 by Jul 31, 2022, the ratio increased again to 0.10 by Oct 31, 2022, and maintained this level for the subsequent two quarters. Subsequently, there was a notable increase to 0.14 by Oct 31, 2020; however, this was an anomaly as the ratio quickly dropped back to 0.00 by the next quarter.
Overall, it appears that Copart Inc has mostly operated with a low or zero debt-to-capital ratio, demonstrating a conservative approach to debt utilization in its capital structure. Investors and analysts may view this positively as it indicates lower financial risk and potentially greater financial stability for the company. However, the recent increase in the ratio from Jan 31, 2022, onwards may warrant further monitoring to understand the company's evolving financial strategy.
Peer comparison
Jul 31, 2024