CPRTCopart

Industrials · Auto Dealers · Nasdaq

We were incorporated in California in 1982, became a public company in 1994, and were reincorporated in Delaware in January 2012. 10-K, Item 1

Headquarters: Dallas, TX
CEO: Jeffrey Liaw
Next results: around Nov 19, 2026

Compare with peers → Embed

RevenueFY2017–26 $4.7B+0.4% Highest in 10 years 10-K FY2026 · XBRL Net incomeFY2017–26 $1.5B−4.4% FY2025: $1.6B 10-K FY2026 · XBRL Free cash flowFY2017–26 $1.3B+3.0% Highest in 10 years 10-K FY2026 · XBRL Operating marginFY2017–26 35.4%−1.1 pts 31.9% in FY2017 10-K FY2026 · XBRL

What changed

10-K filed Sep 29, 2026 against Sep 26, 2025

Area	What changed	Source
Risk factors	13 new paragraphs, nothing like them in the previous 10-K	10-K Item 1A
Inventory growing faster than revenue	Inventory +29.6% vs revenue +0.4% (+29.1 pts)	10-K · XBRL
Accounting checks	9 other checks clear, 1 worth a look	10-K · XBRL
Insiders	No open-market buys in the last 90 days	Form 4
Filings	2 in the last 30 days	EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

What's new, in their words

10-K filed Sep 29, 2026

Paragraphs in Risk Factors that were not in the 10-K filed 2025-09-26. Quoted as filed.

We may incur substantial indebtedness and any failure to meet our debt obligations may adversely affect our business, financial condition, and results of operations. We have entered into, and may continue to enter into, arrangements pursuant to which we may incur significant indebtedness, including the 2026 Credit Agreement, which…
10-K, Item 1A

All 13 new paragraphs →

Accounting checks

latest 10-K

9 of 10 clear 1 worth a look. Checks, not verdicts.

!
Inventory growing faster than revenueInventory +29.6% vs revenue +0.4% (+29.1 pts)
✓
Receivables +6.1% vs revenue +0.4% (+5.7 pts)
✓
Cash from operations $1.6B vs net income $1.5B (FY ending 2026-07-31)
✓
Same auditor in both 10-Ks: Ernst & Young LLP
✓
No statement of substantial doubt about going concern
✓
No 8-K item 4.02 in the last 2 years
✓
No NT 10-K or NT 10-Q in the last 2 years
✓
No sentence in the 10-K concludes that controls were not effective because of a material weakness
✓
No 8-K item 2.06 in the last 2 years
✓
No 8-K item 1.03 in the last 2 years

How each check works, with sources →

In the last 30 days

All filings →

Oct 16, 2026Officer CEO change Adair’s termination of service as CEO (including both exercised and unexercised shares).
Oct 16, 20268-K Acquisition or sale of assets completed, Regulation FD disclosure 8-K items 2.01, 7.01

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Work on CPRT in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/CPRT/export.csv") into a cell.