Copart Total Operating Expenses increased by 1.2% to $732.96M in Q4 2025 compared to the prior quarter. Year-over-year, this metric declined by 0.6%, from $737.11M to $732.96M. Over 4 years (FY 2021 to FY 2025), Total Operating Expenses shows an upward trend with a 17.3% CAGR. This is a positive signal — lower values indicate better performance for this metric.
Rising expenses without a corresponding rise in revenue can indicate operational bloat or aggressive expansion efforts.
The sum of all costs required to run the business that are not directly tied to production, including R&D and SG&A. It r...
Investors compare this to revenue to assess the 'operating leverage' of a business model.
total_operating_expenses| Q1 '21 | Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $405.80M | $447.13M | $480.01M | $520.13M | $567.19M | $558.60M | $581.87M | $591.20M | $602.91M | $606.97M | $625.04M | $640.25M | $690.06M | $709.46M | $740.46M | $737.11M | $760.17M | $712.51M | $724.34M | $732.96M |
| QoQ Change | — | +10.2% | +7.4% | +8.4% | +9.0% | -1.5% | +4.2% | +1.6% | +2.0% | +0.7% | +3.0% | +2.4% | +7.8% | +2.8% | +4.4% | -0.5% | +3.1% | -6.3% | +1.7% | +1.2% |
| YoY Change | — | — | — | — | +39.8% | +24.9% | +21.2% | +13.7% | +6.3% | +8.7% | +7.4% | +8.3% | +14.5% | +16.9% | +18.5% | +15.1% | +10.2% | +0.4% | -2.2% | -0.6% |