Filing Flows › Copart (CPRT) › Q4 FY26 › vs Q3 FY26
Copart (CPRT) Q4 FY26 vs Q3 FY26 (quarter over quarter)
Copart's revenue fell $84.6M (-7%) from $1.2B in Q3 FY26 to $1.2B in Q4 FY26. The biggest changes: Service −$86.5M (-8%); Product +$1.9M (+1%). Operating margin 32.0% against 37.5% (-5.5 pts).
Copart, Q4 FY26: revenue $1.2B (+2% year over year), operating margin 32.0%, net earnings $327M, operating cash flow $358M. The chart draws each line against Q3 FY26, the increases inside each band.
Margins
| Q4 FY26 | Q3 FY26 | Change | |
|---|---|---|---|
| Operating margin | 32.0% | 37.5% | -5.5 pts |
| Net margin | 28.4% | 32.4% | -4.1 pts |
| Free cash flow margin | 24.2% | 40.7% | -16.5 pts |
Every line
| Line | Q4 FY26 | Q3 FY26 | Change | % |
|---|---|---|---|---|
| Service | $970M | $1.1B | −$86.5M | -8% |
| Product | $183M | $181M | $1.9M | +1% |
| Revenue | $1.2B | $1.2B | −$84.6M | -7% |
| Other income, net | $35.8M | $37.8M | −$2.0M | -5% |
| Operating profit | $369M | $464M | −$95.4M | -21% |
| Costs & expenses | $784M | $773M | $10.8M | +1% |
| Pre-tax earnings | $405M | $502M | −$97.4M | -19% |
| General & admin | $113M | $108M | $4.2M | +4% |
| Other operating costs | $671M | $664M | $6.5M | +1% |
| Net earnings | $327M | $401M | −$74.6M | -19% |
| Income tax | $77.9M | $101M | −$22.8M | -23% |
| Depreciation & amortization | $69.7M | $59.1M | $10.6M | +18% |
| Share-based compensation | $9.8M | $9.5M | $342K | +4% |
| Working capital & other | $48.8M | −$114M | $163M | — |
| Operating cash flow | $358M | $584M | −$227M | -39% |
| Free cash flow (OCF − capex) | $279M | $503M | −$225M | -45% |
| Capital expenditures | $78.8M | $80.9M | −$2.1M | -3% |
Questions
How much did Copart's revenue grow quarter over quarter in Q4 FY26?
Copart's revenue fell $84.6M (-7%) from $1.2B in Q3 FY26 to $1.2B in Q4 FY26.
What drove Copart's revenue change in Q4 FY26?
Service −$86.5M (-8%); Product +$1.9M (+1%).