CPRT changes
Pick any two versions below to diff them.
- Balance sheet
- Copart has no borrowings. At July 31, 2026, it held $1,908 million of cash, cash equivalents and restricted cash and $2,582 million of held-to-maturity securities. This is about $4.5 billion in total, against $88 million of lease liabilities. This cash earned $182 million of net interest income in fiscal 2026. $598 million of the cash sat in foreign subsidiaries, and Copart intends to keep it abroad. Copart also owns most of its yard land. Total equity was $9.1 billion, with only $511 million of goodwill. Copart signed a $1,250 million unsecured revolving credit facility on January 23, 2026, due January 23, 2031. It was undrawn, except for $22.5 million of letters of credit. In fiscal 2026, Copart spent $1.6 billion to buy back 43.4 million shares. Thus cash and securities fell from $4.8 billion at July 31, 2025. The ACV Auctions deal costs about $1.9 billion in cash, with no financing condition. Copart can pay for it from cash and stay debt-free. But net cash and interest income will fall after the deal closes. As of 2026-07-31.
- Checkpoints
- Oct 7, 2026: ACV tender offer expires after extension. Pending. Watch: A majority of ACV shares tendered by 5:00 p.m. ET passes; another extension because fewer than half of shares are tendered fails or delays the deal. Oct 13, 2026: US antitrust waiting period for ACV deal ends. Pending. Watch: The waiting period ends without a second request from regulators passes; a second request, which delays closing into 2027, fails. Dec 10, 2026 (estimate): Q1 FY2027 results: unit volume and operating margin. Pending. Watch: Stable US insurance unit volume outside the lost customer and a smaller fall in operating margin pass; wider volume loss or a further margin drop fails. Dec 2026 (estimate): ACV Auctions acquisition closes. Pending. Watch: Closing by the end of calendar 2026 with a clear integration plan passes; a delay or a block by regulators fails. Sep 2027 (estimate): Q4 FY2027 results after RB Global loss fully laps. Pending. Watch: Year-over-year insurance unit volume that is flat or growing passes; continued volume loss after the lost contract laps fails.