Added to YB: 2026-04-29
Pitch date: 2026-04-26
CPRT [bullish]
Copart, Inc.
+1%
current return
Author Info
No bio for this author
Company Info
Copart, Inc. provides online auctions and vehicle remarketing services in the United States, the United Kingdom, Germany, Brazil, Canada, the United Arab Emirates, Spain, Finland, Oman, the Republic of Ireland, and Bahrain.
Market Cap
$32.0B
Pitch Price
$33.01
Price Target
N/A
Dividend
N/A
EV/EBITDA
13.63
P/E
20.87
EV/Sales
5.85
Sector
Commercial Services and Supplies
Category
growth
Copart - The Oldest Fleet in History Meets the Biggest Buyback in History
CPRT: Fleet at record 12.8yr avg age (62% are 12+ yrs old); rising repair costs from ADAS/complex tech drive loss rates to 23.1% (up from 4% in 1980). Largest buyback in co history ($1.17B at ~16x EV/EBIT, last seen 2016-17). Own 90%+ of 21K acres vs IAA's leases; 1M members across 165 countries. Conservative model: 8% vol CAGR, 25% OE margin, 4-4.8% annual buyback = 19% OE/share CAGR. 15% IRR even if multiple compresses to 20x (from 24x). Risks: claims don't recover from affordability pressure, used car prices spike on tariffs suppressing loss rates, IAA closes gap under RB Global. Strong moat, patient mgmt, low bar to win.
Read full article (31 min)