Copart (CPRT) FY2018 results: revenue $1.8 billion, up 24.7% on the year
Copart Inc. (CPRT) reported revenue of $1.8 billion for fiscal 2018, the year ended 31 July 2018, up 24.7% on the year before. Net income was $418 million, up 6.0%, and diluted earnings per share $0.43. The figures are the company's own, from the 10-K it filed with the SEC on 1 October 2018.
Revenue
$1.8 billion
+24.7% on the year
FY2011FY2018
Operating margin
32.4%
31.9% a year earlier
FY2011FY2018
Net income
$418 million
+6.0% on the year
FY2011FY2018
Diluted EPS
$0.43
+4.2% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
1,806
1,448
1,268
+24.7%
Cost of revenue
196
138
141
+42.8%
Gross profit
1,609
1,310
1,127
+22.8%
Gross margin
89.1%
90.5%
88.9%
Operating income
584
461
406
+26.7%
Operating margin
32.4%
31.9%
32.0%
Interest expense
20.4
23.8
23.6
-14.3%
Pre-tax income
563
440
396
+27.8%
Income tax
145
45.8
126
+215.2%
Effective tax rate
25.7%
10.4%
31.7%
Net income
418
394
270
+6.0%
Net margin
23.1%
27.2%
21.3%
Diluted EPS
$0.43
$0.41
$0.28
+4.2%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
535
492
332
+8.7%
Capital expenditure
288
172
174
+67.2%
Free cash flow
247
320
159
-22.7%
Free cash flow margin
13.7%
22.1%
12.5%
Cash from investing
-288
-336
n/a
Cash from financing
-182
-107
n/a
Depreciation and amortisation
78.6
57.0
48.6
+37.9%
Share-based compensation
23.2
20.8
20.9
+11.4%
Buybacks
0.0
0.0
443
Diluted shares, weighted
968m
948m
977m
+2.0%
Shares outstanding at period end
936m
922m
881m
+1.5%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
1,581
1,099
774
+43.9%
Non-controlling interest
0.0
0.5
0.0
Debt
400
631
638
-36.6%
Other liabilities
327
252
237
+29.4%
Total liabilities and equity
2,308
1,983
1,650
+16.4%
Fixed assets
1,163
944
817
+23.2%
Goodwill
337
340
260
-0.9%
Intangible assets
64.9
75.9
11.8
-14.5%
Cash and equivalents
275
210
156
+30.7%
Receivables
352
312
266
+12.7%
Inventory
16.7
10.2
10.4
+64.7%
Other assets
99.3
90.2
129
+10.1%
Total assets
2,308
1,983
1,650
+16.4%
10-K for the year ended 31 July 2018, filed 1 October 2018: the filing.