Copart

Financial strength is exceptional.

As of July 31, 2025, Copart reported $2.78B in cash and equivalents plus ~$2.01B in held‑to‑maturity securities, minimal lease liabilities ($104M total), no long‑term debt, and no borrowings under its $1.25B revolver maturing December 2026. FY2025 operating cash flow was ~$1.80B vs. capex of ~$0.57B, yielding ~26% FCF margin on revenue.

Liquidity supports continued land purchases, facility expansion, technology investment, and selective M&A without balance‑sheet risk.