Copart's balance sheet—$3.4 billion cash plus an undrawn revolver—funds aggressive buybacks and opportunistic land/M&A without issuing equity, compounding per-share value while preserving flexibility for capacity expansion.
the thesis · admitted · the reason above is the thesis, not printed twice
no findingread · nothing bore on it
It held on this filing. No finding was written because nothing in it bore on the reason — the sentences it was read against are below.
the evidence · every sentence checkedfour sentences · whole, uncut
the claims it rests on
“Cash, cash equivalents, and restricted cash totaled $3.4 billion as of April 30, 2026”
“The Company repurchased 43.4 million shares at a weighted average price of $37.63, totaling $1,632.5 million during the nine months ended April 30, 2026”
“282 million shares remain available for repurchase under the program”
“The 2026 Credit Agreement provides an unsecured $1,250 million revolving facility with $1,228 million unused capacity”