CPRT US S&P 500NASDAQ-100Russell 1000 Earnings call
Copart (CPRT) · Q2 2026 results and valuation
Share price: $32.17 · 2026-11-11
Results Q2 2026 vs Q1 2026 · previous quarter · fiscal Q4 2026 · published 10 Sep 2026 and 21 May 2026
Management sounded about as positive as a typical company call, in its script and in answers to analysts.
Only a basic analysis is available for this company at the moment.
1 · Numbers
—
No financial figures for this pair
Outlook given
2 · How management spoke
Typical
Less upbeat than 65% of company calls
Answers to analysts: typical, in line with the script.
Similar to last call.
3 · What stood out
Copart expects the transaction to be accretive to earnings in the first full year.
Valuation
Is Copart undervalued?
Reverse DCF. Free cash flow from the last full fiscal year (2026-07-31), grown for 10 years, discounted back, plus a terminal value. “Implied growth” is the rate the current price assumes.
At 6.4% growth a year (3-year revenue growth), the model's fair value is $27.10 a share — the stock trades 19% above it. Today's price assumes 9.0% growth a year.
Current price
$32.17
close of 2026-11-11
Market implies growth of iThe yearly free-cash-flow growth, for the next 10 years, that today’s share price already assumes. If you believe the company grows faster than this, the stock is cheap under this model; slower, and it is expensive.
+9.0% for 10 yrs
Fair value / share
$27.10
Buy below
$20.32
Price vs fair value
Overvalued 19%
Price vs buy-below price
Overvalued 58%
Read between the lines
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Guidance
CPRT expects the transaction to be accretive to earnings in the first full year, boosting profits, with more details to come after closing.
Source quote
“We expect the transaction to be accretive to earnings in the first full year and we will provide more details after it closes.”
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Figure
Repair costs are up more than 50% from 2019 levels per data from CCC, likely boosting salvage vehicle supply for Copart.
Source quote
“Repair costs are up more than 50% from 2019 levels per data from CCC.”
Tone
How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q2 2026. Ring: Q1 2026.
Script and answers carried a similar tone, so the script's message held up under questioning.
Sentences that drove the tone
“Copart has a very strong track record of driving strong return on invested capital across the businesses it has acquired.”
“For the full year, international purchased vehicle revenue increased $2.8 million or 1%, and purchased vehicle gross profit increased $2.3 million or 4.5%.”
“Our non insurance unit volume returned to modest growth in the fourth quarter, up 0.2%, marking a strong sequential improvement, which we believe reflects the traction of our commercial and...”
Full figures
USD · ROIC.AI fundamentals (NASDAQ:CPRT, period end 2026-07-31)
| Metric | Q2 2026period end 2026-07-31 | Q1 2026period end 2026-04-30 | Change | Q2 2025 | YoY |
|---|---|---|---|---|---|
| Revenue | — | 1.24B | 1.13B | ||
| Operating income | — | 464.3M | 412.6M | ||
| Net income | — | 402.4M | 396.4M | ||
| EPS | — | 0.43 | 0.41 | ||
| P/E today 17.8 | 18.8 | 20.6 | −1.8 | 28.5 | −9.7 |
Topics
Most discussed now
- Global insurance units were down 4.2% with domestic insurance being down 7.5%.
- Global service revenue increased more than $13 million or 1.4%, global purchased vehicle sales increased $14 million, or 8.3%.
- They think scrappy like Copart does, and you have heard me use those terms in the past.
Faded since Q1 2026
- Fading Nevertheless, the underlying drivers of near-term volume trends remain consistent with those Copart has discussed with you in prior…
- Fading A portion of this volume variance reflects shifts in policy in force mix among insurance carriers.
- Fading Global gross profit increased 3.7% to $572.6 million, with global gross margins increasing 71 basis points to 46.3%.
- Fading Operating income grew 2.8% to $464.3 million, net income was $402.4 million, and earnings per diluted share increased 2.4% to...
Latest announcements
Official filings, newest first.
- Material agreement; Regulation FD disclosure · SEC 8-K
- Results of operations · SEC 8-K
- Director or officer change; Regulation FD disclosure · SEC 8-K
- Director or officer change; Regulation FD disclosure · SEC 8-K
- Director or officer change; Regulation FD disclosure · SEC 8-K
- Results of operations · SEC 8-K
- Results of operations · SEC 8-K
- Material agreement; New financial obligation · SEC 8-K