Copart Inc (CPRT)

Financial leverage 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
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
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
Financial leverage ratio		1.12	1.14	1.13	1.14	1.14	1.15	1.15	1.25	1.26	1.30	1.29	1.32	1.34	1.38	1.39	1.39	1.43	1.48	1.43	1.48

January 31, 2024 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $7,598,520K ÷ $6,812,710K
= 1.12

Copart, Inc.'s financial leverage ratio has been relatively stable over the past few quarters, ranging between 1.12 and 1.25. A financial leverage ratio of 1.12 in Q2 2024 indicates that the company has $1.12 in total assets for every $1 in shareholders' equity. The slight fluctuations in the ratio suggest that Copart has been managing its debt levels well and maintaining a healthy balance between debt and equity financing. It is important to note that a lower leverage ratio signifies lesser dependence on debt for financing, which can indicate lower financial risk. Overall, Copart's consistent financial leverage ratio highlights the company's prudent approach to capital structure management.