$Copart (CPRT.US)$🎯 2023.12.19 The current price is 48.9, w...

New data: 23Q4 and 24Q1, continuing rapid growth

For the full year of 2023, revenue increased 10.5%, operating profit increased 8.1%, and net profit increased 13.5%. The average growth rate of net profit in the past five years was 24%.

2024Q1 revenue increased by 14.2%. Operating profit increased by 26.9% due to the increase in gross margin, and net profit increased 35.3% due to combined interest income.

The balance ratio remains at a very low level of around 10%. Interest income has been very high recently, and long-term loans are only 11 million yuan.

Net cash flow in 2023 was lower than net investment, but net investment in 2024Q1 showed a high net inflow, generating a large number of shareholder surpluses.

Currently, the price-earnings ratio is 38.1, and the price-earnings ratio TTM has dropped to 35.6. The valuation is within a reasonable range, and there is no need for action for the time being.