Copart, Inc. CPRT
Copart's FY2025 fundamentals remain best-in-class — $4.65B revenue at +9.7% YoY growth, 36.5% operating margins, $1.23B free cash flow, and a near-debt-free balance sheet ($104M debt vs $9.19B equity) — yet the stock at $32.99 still trades below its 200-day MA of $34.66, suggesting the recovery from the ~60% drawdown has room to run. Insider activity is decisively bullish: the President and CFO each made large open-market purchases at $31.61 on August 16, 2026 ($15.8M and $6.3M respectively), and the 24-month net insider accumulation is +368,969 shares worth $9.1M.
At 20.4x earnings the P/E is only a 16.7% premium to the peer median of 17.5x, a reasonable price for a compounder with 33.4% net margins and double-digit EPS growth, while smart-money flows have improved from -0.0465 in mid-2025 to near-neutral at 0.0018 as of Q2 2026.
What could go wrong
- Elevated P/S multiple. At 6.58x sales, CPRT trades 209% above the peer median of 2.13x, leaving little room for any revenue growth disappointment.
- IAA competition and insurance headwinds. Recent coverage cites near-term pressure from insurance affordability and IAA competition, which could compress volumes or pricing power in salvage auctions.
- Technical overhead resistance. The stock remains below its 200-day MA of $34.66 as of 2026-08-28, and a failure to reclaim that level could signal the downtrend is intact.
- Smart-money fund count declining. Institutional fund holders fell from 62 to 59 between Q1 and Q2 2026, and the SM score of 0.0018 is barely positive, indicating institutional conviction is lukewarm.
What would change my mind
Where this comes from: FMP FY2025 annual + derived_metrics · FMP FY2025 annual + derived_metrics · Insider transactions 2026-08-16 · Insider summary. Orin's read on CPRT; not advice.
Twelve months actual closes to 2026-09-24 · actual filings
50-day average 200-day average · volume below
On file
All CPRT filingsLargest holders · 13F Q2 2026
Money flow| Filer | Position | Of fund |
|---|---|---|
| Vanguard Capital Management | $1.6B | 0.0% of fund |
| State Street | $1.1B | 0.0% of fund |
| Vanguard Portfolio Management | $1.1B | 0.0% of fund |
| Invesco | $930.8M | 0.1% of fund |
| Geode Capital Management | $769.7M | 0.0% of fund |
| Bank of New York Mellon | $488.7M | 0.1% of fund |
92 filers · quarter ended Q2 2026 · positions, not flows
Insiders, last 24 months: 90 Form 4 filings, net $9.1M. Of the 50 on hand, 0 were open-market purchases and 6 sales— the rest are grants, option exercises and tax withholding.
Ask Orin about CPRT
Orin answers questions about CPRT from its filings, transcripts and numbers — with the source behind every claim. Your own desk starts with 3 free days, card required.
Start 3 free days →Where it trades
| Metric | Now | Own median | Sector |
|---|---|---|---|
| P/E | 18.0× | 34.1× | 79.6× |
| EV/EBITDA | 11.7× | 25.1× | — |
| P/S | 5.56× | 10.89× | — |
| P/B | 2.9× | 6.7× | — |
Its P/E sits below all 5 of the last 5 years (−3.71σ from its own mean).
8.0%
free-cash-flow growth every year for 10 years, discounted at 10%, is what today’s price implies — starting from $1.3B of trailing free cash flow. It is an assumption the market is making, not a forecast Orin is making.
What Wall Street published
$37
$25 – $45 · +34% against today's price
- 12 buy or overweight
- 9 hold
- 1 underweight or sell
The analysts’ consensus and their own ratings, not Orin’s. A target is a twelve-month opinion published by the firm that wrote it.
Against the companies it is compared to
| Company | Market cap | P/E | EV/EBITDA | Gross | Net | ROE |
|---|---|---|---|---|---|---|
| CPRTCopart, Inc. | $26B | 18.0× | 11.7× | 44.7% | 31.8% | 16% |
| CCLCarnival Corporation & plc | $30B | 9.4× | 7.5× | 34.4% | 11.2% | 24% |
| CMGChipotle Mexican Grill, Inc. | $41B | 29.4× | 20.3× | 24.1% | 11.4% | 53% |
| DHID.R. Horton, Inc. | $39B | 13.3× | 10.8× | 22.6% | 9.2% | 13% |
| EBAYeBay Inc. | $48B | 21.8× | 17.4× | 72.5% | 18.5% | 48% |
| FFord Motor Company | $50B | — | — | 10.8% | -3.9% | -19% |
| LVSLas Vegas Sands Corp. | $25B | 15.0× | 8.0× | 50.9% | 12.8% | 142% |
| YUMYum! Brands, Inc. | $38B | 17.1× | 17.2× | 45.8% | 25.4% | -30% |
The median is of the 6 peers listed above and nothing else — check it against the column. This company trades 11.9% above it. The peer set is the vendor’s, so a company can appear here that a person would not have chosen.
What it has traded at
What its sector has traded at
Two scales, drawn separately on purpose: a sector median and one company’s multiple are not the same number and putting them on one axis invites a comparison neither series supports.
Discounted cash flow
| Model | Fair value | Against | Computed |
|---|---|---|---|
| Standard DCF | $26 | $31.41 · −16% | 2026-06-10 |
| Levered DCF | $30 | $31.41 · −3% | 2026-06-10 |
The vendor’s intrinsic-value models. Treat them as a low-growth anchor — for a fast grower the market routinely pays well above a DCF. These were computed against the price in the “against” column, not today’s.
Every estimate on one scale
The vertical rule is the current price. Ranges and point estimates are the backend’s, published as they were calculated; an arrow means the estimate sits beyond this scale, and its number is on the right.