Toronto, Ontario -- Copart enjoyed a profitable third quarter in 2025, according to its latest investor report.
The Dallas based online vehicle auction operator says revenue in the quarter -- the fourth of its fiscal year -- was US$1.1 billion ($1.50 billion), up 5.2 percent. Net income was US$396 million ($538 million), up 22.9 percent. Gross profit rose 12.4 percent to US$510 million ($694 million) and diluted earnings per share was US$0.41 ($0.56), up from US$0.33 last year.
For the full fiscal year ending July 31 2025, Copart had reported revenue of US$4.6 billion ($6.26 billion), up 9.7 percent. Annual net income reached US$1.6 billion ($2.18 billion), up 13.9 percent.
The company is now holding more than US$2.7 billion ($3.67 billion) in cash and equivalents on its balance sheet, up sharply from US$1.5 billion last year.
Its real estate footprint also continues to expand. Copart now lists more than 250 locations in more than ten countries, representing many thousands of hectares of secured land that function as storage, processing and de-pollution yards.
The strong performance comes three years after Copart began to expand its owned land base, scaled internationally and adjusted its operations to accommodate newer complex vehicles — all of which have reinforced its competitive position.
The land strategy has helped maintain margin stability as claim volumes fluctuate, while European and Middle Eastern operations have been integrated on the same platform used in the United States and Canada.
Higher total loss rates tied to advanced driver assistance systems and electric vehicles have also supported the business, as more write-offs now contain high-value modules, sensors and other components.
Prior disclosures have indicated the company’s expansion has been shaped by rising insurance claim volumes, more total-loss declarations and more write-offs from newer complex vehicle platforms.
