Copart (CPRT) FY2020 results: revenue $2.2 billion, up 8.0% on the year
Copart Inc. (CPRT) reported revenue of $2.2 billion for fiscal 2020, the year ended 31 July 2020, up 8.0% on the year before. Net income was $700 million, up 18.3%, and diluted earnings per share $0.73. The figures are the company's own, from the 10-K it filed with the SEC on 28 September 2020.
Revenue
$2.2 billion
+8.0% on the year
FY2013FY2020
Operating margin
37.0%
35.1% a year earlier
FY2013FY2020
Net income
$700 million
+18.3% on the year
FY2013FY2020
Diluted EPS
$0.73
+19.1% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
2,206
2,042
1,806
+8.0%
Cost of revenue
n/a
256
196
Gross profit
n/a
1,786
1,609
Gross margin
n/a
87.5%
89.1%
Operating income
816
716
584
+13.9%
Operating margin
37.0%
35.1%
32.4%
Interest expense
20.2
19.8
20.4
+2.1%
Pre-tax income
801
705
563
+13.6%
Income tax
101
113
145
-10.9%
Effective tax rate
12.6%
16.1%
25.7%
Net income
700
592
418
+18.3%
Net margin
31.7%
29.0%
23.1%
Diluted EPS
$0.73
$0.61
$0.43
+19.1%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
918
647
535
+41.9%
Capital expenditure
592
374
288
+58.3%
Free cash flow
326
273
247
+19.5%
Free cash flow margin
14.8%
13.4%
13.7%
Cash from investing
-601
-356
-288
Cash from financing
-27.4
-370
-182
Depreciation and amortisation
101
84.9
78.6
+19.4%
Share-based compensation
23.3
23.4
23.2
-0.5%
Buybacks
0.0
365
0.0
Diluted shares, weighted
955m
962m
968m
-0.7%
Shares outstanding at period end
941m
919m
936m
+2.4%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
2,490
1,778
1,581
+40.0%
Non-controlling interest
n/a
n/a
0.0
Debt
400
400
400
0.0%
Operating lease liabilities
95.6
0.0
n/a
Finance lease liabilities
0.6
n/a
n/a
Other liabilities
470
369
327
+27.2%
Total liabilities and equity
3,455
2,548
2,308
+35.6%
Fixed assets
1,942
1,428
1,163
+36.0%
Goodwill
344
333
337
+3.1%
Intangible assets
47.8
55.2
64.9
-13.4%
Cash and equivalents
478
186
275
+156.4%
Receivables
350
367
352
-4.6%
Inventory
20.1
20.9
16.7
-4.1%
Other assets
274
157
99.3
+74.7%
Total assets
3,455
2,548
2,308
+35.6%
10-K for the year ended 31 July 2020, filed 28 September 2020: the filing.