Copart (CPRT) FY2019 results: revenue $2.0 billion, up 13.1% on the year
Copart Inc. (CPRT) reported revenue of $2.0 billion for fiscal 2019, the year ended 31 July 2019, up 13.1% on the year before. Net income was $592 million, up 41.6%, and diluted earnings per share $0.61. The figures are the company's own, from the 10-K it filed with the SEC on 30 September 2019.
Revenue
$2.0 billion
+13.1% on the year
FY2012FY2019
Operating margin
35.1%
32.4% a year earlier
FY2012FY2019
Net income
$592 million
+41.6% on the year
FY2012FY2019
Diluted EPS
$0.61
+42.2% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
2,042
1,806
1,448
+13.1%
Cost of revenue
256
196
138
+30.1%
Gross profit
1,786
1,609
1,310
+11.0%
Gross margin
87.5%
89.1%
90.5%
Operating income
716
584
461
+22.6%
Operating margin
35.1%
32.4%
31.9%
Interest expense
19.8
20.4
23.8
-2.7%
Pre-tax income
705
563
440
+25.3%
Income tax
113
145
45.8
-21.6%
Effective tax rate
16.1%
25.7%
10.4%
Net income
592
418
394
+41.6%
Net margin
29.0%
23.1%
27.2%
Diluted EPS
$0.61
$0.43
$0.41
+42.2%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
647
535
492
+20.9%
Capital expenditure
374
288
172
+29.9%
Free cash flow
273
247
320
+10.4%
Free cash flow margin
13.4%
13.7%
22.1%
Cash from investing
-356
-288
-336
Cash from financing
-370
-182
-107
Depreciation and amortisation
84.9
78.6
57.0
+8.0%
Share-based compensation
23.4
23.2
20.8
+1.0%
Buybacks
365
0.0
0.0
Diluted shares, weighted
962m
968m
948m
-0.6%
Shares outstanding at period end
919m
936m
922m
-1.8%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,778
1,581
1,099
+12.5%
Non-controlling interest
n/a
0.0
0.5
Debt
400
400
631
0.0%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
369
327
252
+13.1%
Total liabilities and equity
2,548
2,308
1,983
+10.4%
Fixed assets
1,428
1,163
944
+22.7%
Goodwill
333
337
340
-1.2%
Intangible assets
55.2
64.9
75.9
-15.0%
Cash and equivalents
186
275
210
-32.1%
Receivables
367
352
312
+4.5%
Inventory
20.9
16.7
10.2
+25.1%
Other assets
157
99.3
90.2
+58.0%
Total assets
2,548
2,308
1,983
+10.4%
10-K for the year ended 31 July 2019, filed 30 September 2019: the filing.