Copart Inc (CPRT)
Solvency ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| 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 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.09 | 0.10 | 0.11 | 0.11 | 0.12 | 0.00 | 0.00 | 0.16 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 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 |
The solvency ratios for Copart, Inc. indicate a stable financial position over the quarters analyzed. The debt-to-assets, debt-to-capital, and debt-to-equity ratios have remained consistently low, ranging from 0.00 to 0.02. This suggests that the company has a low level of debt relative to its assets, capital, and equity, indicating a strong ability to meet its financial obligations.
Furthermore, the financial leverage ratio has also been relatively stable, averaging around 1.14 over the quarters. This ratio indicates the company's reliance on debt to finance its operations. A ratio of 1.14 implies that Copart's assets are financed 114% by debt, which is relatively conservative and indicates a low level of financial risk.
Overall, based on the solvency ratios, Copart, Inc. appears to have a healthy financial structure with a solid ability to meet its debt obligations and maintain financial stability.
Coverage ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | 1,584,817.00 | 1,570,442.00 | 1,486,569.00 | 1,420,745.00 | 1,374,576.00 | 452,126.33 | 274,999.40 | 135,170.40 | 52,282.40 | 26,477.24 | 17,483.48 | 209.94 | 84.77 | 55.18 | 40.59 | 40.44 | 42.04 | 39.35 | 36.59 | 33.85 |
The interest coverage ratio for Copart, Inc. for Q3 2022 was 70.95, representing the ability of the company to meet its interest obligations with its operating income. The ratio increased significantly in Q1 2023 to 189.46, indicating a substantial improvement in the company's ability to cover interest expenses. However, insufficient data is available to analyze the trend in interest coverage for Q2 2023 to Q1 2024. Overall, the interest coverage ratio for Copart, Inc. seems healthy based on the provided data points.