Copart, Inc. — Earnings Quality Grade C
CPRT · Industrials
Some red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 16 days, change +1 days YoY
AR outpaced revenue for 2 consecutive years
Revenue 9.7%, CFFO 22.2%. Cash follows revenue
Expense Quality
Inventory -9.1% vs COGS 9.3%. Normal
CapEx growth 11.4% vs revenue 9.7%. Normal
SG&A/Gross Profit = 19.2%, excellent (<30%)
Gross margin 45.2%, change +0.2pp. Stable
Cash Flow Quality
CFFO/NI = 1.16. Profits backed by cash
FCF $1.2B, FCF/NI = 0.79
Accruals ratio = -2.5%. Low accruals
Cash $4.8B covers debt $0.1B
Balance Sheet Health
Goodwill+Intangibles $0.6B = 6% of equity. Manageable
Debt/EBITDA = 0.1x. Healthy
Other assets -55.3% vs revenue 9.7%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change -1% YoY. Normal
Manipulation Score
M-Score = -2.55 (< -2.22). Unlikely manipulator
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Beneish M-Score
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Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25