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Copart (CPRT) investor relations material
Copart Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary4 Sep, 2025
Executive summary
Achieved record results in fiscal 2025, with growth in units sold, revenue, and operating profits year-over-year.
Q4 net income attributable to shareholders was $396 million, a 22.9% increase year-over-year; annual net income was $1.6 billion, up 13.9%.
Fully diluted EPS for Q4 was $0.41, up 24.2% year-over-year; annual diluted EPS was $1.59, up 13.6%.
Global insurance volume grew 4.5% and U.S. insurance volume grew 4.2% for the full year, though both declined about 2% in Q4 compared to the prior year.
Auction liquidity and digital platform strength highlighted as key competitive advantages, with international buyers accounting for 40% of U.S. auction sales.
Financial highlights
Global revenue reached $1.13 billion for Q4 (up 5.2% YoY) and $4.65 billion for FY25 (up 9.7% YoY).
Q4 gross profit was $510 million, up 12.4% year-over-year; annual gross profit was $2.1 billion, up 10.1%.
Q4 GAAP operating income increased 14.8% to $412.6 million; FY25 operating income up 8% to $1.7 billion.
Q4 total other income was $66 million, up 34.6% year-over-year; annual total other income was $199 million, up 39.5%.
Q4 income before taxes was $478 million, up 17.1% year-over-year; annual income before taxes was $1.9 billion, up 10.6%.
Outlook and guidance
Focus remains on enhancing auction liquidity, serving insurance clients, and driving strong selling prices.
Continued investment in technology, operational capacity, and member experience to support growth.
No specific forward guidance provided; weather volatility and insurance industry dynamics noted as ongoing variables.
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Q1 202620 Nov, 2025
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Frequently asked questions
The global leader for vehicle auctions
Copart is a company that provides online auctions and vehicle remarketing services. The business model centers around providing marketplaces for buyers and sellers of used and repairable vehicles. As for other marketplaces such as Amazon within ecommerce or Meta for social media, the business model entails network effects, which provides protection against competition for the entire business after reaching sufficient scale.
The company operates a network of over 200 locations in over 10 countries, where vehicles are collected and stored prior to being auctioned off to buyers. Buyers can bid on vehicles through Copart's online auction platform, which offers a wide range of vehicles, including cars, trucks, motorcycles, boats, and RVs. Copart’s online auction platform is one of the largest in the world of its kind.
Extraordinary financial development
Financially, Copart has experienced strong growth over the last few decades. The company's revenue has increased from $214 million in 2001 to over $3.8 billion in 2020. This growth has been driven by the company's expansion into new markets, as well as its ability to attract a wide range of buyers and sellers to its online platform.
In addition to its strong financial performance, Copart has also received numerous accolades for its business practices, including being named one of Forbes' Best Employers for Diversity in 2021 and being recognized by the Environmental Protection Agency for its sustainable business practices.
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