COPART, INC. FY 2025 10-K, explained in plain English
Key financials — as reported
| Total revenue | $4.6B |
| Gross margin | — not reported |
| Operating income | $1.7B |
| Net income | $1.6B |
| Diluted EPS | $1.59 |
| Cash & equivalents | — not reported |
| Total assets | $10.1B |
| Long-term debt | — not reported |
Key takeaway
Copart's fiscal 2025 revenue of $4.65 billion and operating income of $1.70 billion point to a highly profitable, asset-light auction-based business model.
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Beneath the surface
The filing discloses an active DOJ Consumer Protection Branch investigation into potential money-laundering law violations tied to Copart's auction platform, a material undisclosed liability risk not reflected in headline financials.
🔒 3 more insights a headline reader would miss
This is the free preview. The full analysis explains every line item above and includes 7 more findings — plus insider trades, activist stakes, and 8-K events for CPRT.
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