Copart spent $1.63bn on buybacks after two years of none, more than its $1.60bn operating cash flow
Fiscal 2026 10-K: a company that bought no shares in the two prior fiscal years repurchased 43.4 million. Revenue rose 0.4% and net income fell 4.4% in the same year
aiSwingX™ Editorial · Reviewed
Published
Copart, Inc. Form 10-K (fiscal 2026, filed 2026-09-29): consolidated statements of cash flows, income and balance sheets, Item 5 'Repurchases of Our Common Stock', and MD&A 'Liquidity and Capital Resources'
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Copart (CPRT), which sells damaged and used vehicles through online auctions, filed its 10-K for fiscal 2026 on September 29. It spent $1,632.5m repurchasing its own shares. That is more than the $1,604.5m of cash its operations provided in the same year. It repurchased none in the two prior fiscal years.
In plain terms
Copart sells crashed cars in online auctions. In one year it bought $1.6bn of its own shares. In the two years before that it bought none. It spent more on its shares than its business brought in as cash over the year.
What happened
Copart (CPRT) sells damaged and used vehicles through online auctions. It lists vehicles handed over by insurers and earns fees. Its fiscal year ends on July 31. On September 29 it filed its 10-K for fiscal 2026, August 2025 to July 2026. The cash flow statement has a new line.
Repurchases of common stock: $1,632.5m. Over the year the company bought 43,433,164 of its own shares. The same line is empty for fiscal 2025 and fiscal 2024. The company states in the 10-K that it did not repurchase any stock under the program in those two years.
Operating cash flow for the same year was $1,604.5m. The company spent $28.0m more on its own shares than its business provided in cash over the year. It is also more than net income of $1,484.3m.
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FAQ
Where can I confirm there were no repurchases in the two prior fiscal years?
The company states it in Item 5 and in the notes to the 10-K: it did not repurchase any common stock under the program in fiscal 2025 and 2024. The repurchase line in the cash flow statement is also empty for both years.
If it spent more than it brought in, did it borrow?
No. The financing section of the cash flow statement shows no proceeds from borrowing. The shortfall came out of cash the company already held. How much cash fell is explained in the subscriber section.
Does the filing say what price it paid?
Yes. The company gives the number of shares bought and the weighted average price in the 10-K. The same report also gives the closing price on the last day of the fiscal year. Both prices are explained in the subscriber section.
Where can I check these figures myself?
On SEC EDGAR, in Copart, Inc.'s 10-K for fiscal 2026 (accession 0001193125-26-405731): the consolidated statements of cash flows and Item 5.
How aiSwingX™ wrote this
We read the filing on SEC EDGAR in full — statements, notes, MD&A. Press releases and news are not used as sources.
Every figure is reconciled to its location in the filing and to XBRL data. One mismatch means no publication.
An editor reviews before publication; any later change is recorded in the revision history.
Copart, Inc. Form 10-K (fiscal 2026, filed 2026-09-29): consolidated statements of cash flows, income and balance sheets, Item 5 'Repurchases of Our Common Stock', and MD&A 'Liquidity and Capital Resources' · SEC EDGAR · This article is not investment advice. Disclaimer
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aiSwingX™ analyzes US filings and reports them as news investors can read.
