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Held by 1,032 of 6,047 reporting institutions (99th percentile) — extremely crowded.
Data as of Q2 2026
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Ranked against 15 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-06-30.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ORLY | $68.7B | 28.6× | 18.8× | 3.9× | 6.4% | 51.6% | 14.3% | -333% | 48.3% | 1.5× | 1,597 |
| CVNA | $45.9B | 7.5× | — | 2.3× | 48.6% | 20.6% | 6.9% | 40.9% | 16.6% | — | 804 |
| AZO | $45.2B | 19.3× | 12.7× | 2.4× | 2.4% | 52.6% | 13.2% | -73.2% | 46.4% | 2.0× | 1,244 |
| CPRT | $25.2B | 17.1× | 13.2× | 5.4× | 9.7% | — | 33.4% | 16.9% | 16.9% | 0.0× | 1,032 |
| CASY | $22.8B | 32.2× | — | 1.3× | 10.2% | — | 4.1% | 18.1% | 11.2% | — | 1,040 |
| PAG | $13.4B | 14.4× | 10.7× | 0.4× | -0.2% | 16.4% | 2.9% | 16.8% | 12.1% | 1.4× | 385 |
| MUSA | $9.5B | 21.4× | 11.7× | 0.5× | -4.2% | — | 2.4% | 75.5% | 16.8% | 2.2× | 586 |
| KMX | $7.8B | 32.7× | 35.6× | 0.3× | -1.8% | 10.8% | 1.0% | 4.2% | 1.0% | — | 546 |
| LAD | $6.8B | 9.5× | 8.6× | 0.2× | 4.0% | 15.2% | 2.2% | 12.4% | 5.0% | 5.1× | 429 |
| RUSHA | $5.5B | 14.4× | 8.6× | 0.7× | -4.7% | 19.6% | 3.5% | 12.0% | 10.6% | 0.1× | 346 |
| AN | $5.4B | 9.5× | — | 0.2× | 3.2% | 17.9% | 2.3% | 27.7% | 10.6% | — | 491 |
| OPLN | $4.3B | — | 16.4× | 2.2× | 8.2% | — | 9.2% | 14.3% | 10.0% | 1.4× | 335 |
| ABG | $3.2B | 7.0× | 7.1× | 0.2× | 4.7% | 17.1% | 2.7% | 12.6% | 6.6% | 3.8× | 1,296 |
| GPI | $3.0B | 9.9× | — | 0.1× | 13.2% | 16.0% | 1.4% | 11.7% | 5.0% | — | 374 |
| AAP | $2.3B | 53.0× | 11.5× | 0.3× | -5.4% | 43.4% | 0.5% | 2.0% | 0.8% | 1.3× | 372 |
| HZO | $1.2B | — | 24.7× | 0.5× | -5.0% | 32.5% | -1.4% | -3.4% | -1.6% | 10.8× | 180 |
Peers = companies sharing CPRT's sector (Retail-Auto Dealers & Gasoline Stations) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
How management deployed cash over 10 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 17%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $1.05B covers all $0 of scheduled principal — no refinancing pressure. Scheduled principal only (excludes interest & revolver draws). As of 2021-07-31 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit. Effective rate ~5.1% on $397.7M of debt. Interest last disclosed in FY2020 (no longer broken out).
Cash vs short-term debt unavailable.
Short-term / long-term split not separately reported.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $0 buybacks = $0 returned on $1.23B FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
EOD close · as of 2026-10-05
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE 17% against ROIC 17% — 0% of the return on equity comes from leverage and buybacks rather than from the operating business.
Equity is the year-end figure. On average equity over the two year-ends, ROE is 18.6% — the two diverge when buybacks or issuance move equity during the year.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
Low operating leverage — profit tracks sales closely (stable, less cyclical).
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 10.9 | 12.5 | — | — | — | — | — | — |
| SG&A | 9.8 | 8.9 | 8.7 | 7.7 | 6.6 | 6.5 | 7.9 | 8.7 |
| Operating Income | 32.4 | 35.1 | 37.0 | 42.2 | 39.3 | 38.4 | 37.1 | 36.5 |
| Income Tax | 8.0 | 5.5 | 4.6 | 6.9 | 7.2 | 8.2 | 8.3 | 7.5 |
| Net Income | 23.1 | 29.0 | 31.7 | 34.8 | 31.1 | 32.0 | 32.2 | 33.4 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on CPRT: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Solve the discounted cash flow backwards, then stress-test the assumptions.
Average free cash flow across the last 3 positive fiscal years (FY2023, FY2024, FY2025). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
To be worth $27.65 today, the market must believe free cash flow compounds 9.3%/yr for a decade (off $1.01B on the 3-yr avg basis).
On the basis ($975.7M) the requirement is 9.8%/yr. Shares issued to employees are added back in operating cash flow, so this basis treats them as free.
The market's 9.3% is more conservative than its 8-yr track record.
Default is 9.3% — this company's computed cost of capital (computed WACC), the same rate the Analysis tab discounts at.
2-stage DCF · 0.93B shares (market data) · net debt $0
mean 21.3% · volatility σ 28% · implied rate exceeded in 6/8 yrs
Central path = implied 9.3%/yr growth; shaded band = ±1σ (28%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
The spread has compressed 3 years running.
| Period | ROIC | Cost of capital | Spread |
|---|---|---|---|
| FY2019 | 28.3% | 9.3% (today's — no rate published for this year) | 19.0pts |
| FY2020 | 25.4% | 9.3% (today's — no rate published for this year) | 16.2pts |
| FY2021 | 29.9% | 9.3% (today's — no rate published for this year) | 20.6pts |
| FY2022 | 32.2% | 9.3% (today's — no rate published for this year) | 22.9pts |
| FY2023 | 19.5% | 9.3% (today's — no rate published for this year) | 10.3pts |
| FY2024 | 16.5% | 9.3% (today's — no rate published for this year) | 7.2pts |
| FY2025 | 14.7% | 9.3% (today's — no rate published for this year) | 5.4pts |
| Now | 16.9% | 9.3% | 7.6pts |
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2016 | 88.9% | 32.0% | 21.3% |
| FY2017 | 90.5% | 31.9% | 27.2% |
| FY2018 | 89.1% | 32.4% | 23.1% |
| FY2019 | 87.5% | 35.1% | 29.0% |
| FY2020 | not reported | 37.0% | 31.7% |
| FY2021 | not reported | 42.2% | 34.8% |
| FY2022 | not reported | 39.3% | 31.1% |
| FY2023 | not reported | 38.4% | 32.0% |
| FY2024 | not reported | 37.1% | 32.2% |
| FY2025 | not reported | 36.5% | 33.4% |
Return on equity (17%) and return on invested capital (17%) are within a couple of points in FY2025, so the headline return is the operating return — there is no meaningful leverage effect to strip out.
$523M of goodwill — 6% of invested capital. The gap is what was paid above the fair value of what was bought; it is real capital shareholders provided, so neither bar is the whole answer.
Margins have compressed 4 years running even as the spread stayed positive.
Converts 0.70x of reported profit into cash — adequate, without much margin.
Shares outstanding are up 321% since FY2019 — per-share cash flow has grown more slowly than the totals above, and the gap is the owners'.
Debt is present but there is no positive EBITDA or no reported interest expense, so coverage cannot be measured.
This schedule comes from a filing dated 2021-07-31, 1892 days old. Maturities are shown relative to that date, not to today.
Ladder as of 2021-07-31 (10-K); cash from the 2021-07-31 balance sheet; FCF from FY2021.
Balance sheet at 2021-07-31. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
No material counter-signal in the checked set: net debt / EBITDA, interest coverage, stressed coverage, maturity schedule vs cash and one year of FCF, liquidity ratios.
Missing from our data, so excluded from this answer: interest_expense.
At $27.22, free cash flow must compound 9.19%/yr for 10 years. It has done 28.55%/yr over 6 years.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2020 | 19.5% | 9.2% |
| FY2021 | 62.0% | 9.2% |
| FY2022 | 59.0% | 9.2% |
| FY2023 | 1.0% | 9.2% |
| FY2024 | 13.5% | 9.2% |
| FY2025 | 28.0% | 9.2% |
The implied rate has been matched or beaten in 5 of the last 6 years.
| Step | Amount | Running total |
|---|---|---|
| Net income | $1.55B | $1.55B |
| Share-based comp | $38M | $1.59B |
| Other non-cash & working capital | $209M | $1.80B |
| Operating cash flow | $1.80B | $1.80B |
| Capex | −$569M | $1.23B |
| Free cash flow | $1.23B | $1.23B |
| FCF after SBC | $1.19B | $1.19B |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2020 | 8.0% | -4.6% | -12.6 points |
| FY2021 | 22.1% | 37.2% | 15.2 points |
| FY2022 | 30.0% | 20.4% | -9.6 points |
| FY2023 | 10.5% | 21.3% | 10.8 points |
| FY2024 | 9.5% | 11.9% | 2.4 points |
| FY2025 | 9.7% | -2.9% | -12.6 points |
| Fiscal year | DSO | DIO | DPO | Cash conversion cycle |
|---|---|---|---|---|
| FY2019 | 65.6 days | 29.9 days | 65 days | 30.5 days |
| FY2020 | 58 days | not reported | not reported | not reported |
| FY2021 | 65.2 days | not reported | not reported | not reported |
| FY2022 | 60.3 days | not reported | not reported | not reported |
| FY2023 | 66.2 days | not reported | not reported | not reported |
| FY2024 | 67.7 days | not reported | not reported | not reported |
| FY2025 | 59.9 days | not reported | not reported | not reported |
| Fiscal year | Accruals / assets |
|---|---|
| FY2019 | -2.2 percent |
| FY2020 | -6.3 percent |
| FY2021 | -1.2 percent |
| FY2022 | -1.6 percent |
| FY2023 | -1.9 percent |
| FY2024 | -1.3 percent |
| FY2025 | -2.5 percent |
SBC is added back inside operating cash flow, so reported free cash flow treats shares issued to employees as free. Percent of revenue says how expensive the payroll is; percent of operating cash flow says how much of the cash exists only because the charge was added back. The buyback offset is buybacks over SBC — below 1.0 the repurchase does not cover the shares issued.
Figures are the latest fiscal year (FY2025) from the company's own filings, not a trailing-twelve-month window — Q2 reads fiscal years throughout so the cash-conversion ratios and these share one basis. A blank is a line the filer did not report; it is never read as zero.
EOD close · as of 2026-10-05
How a revenue dollar becomes profit — FY2025
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.65B 100.0% | $4.24B 100.0% | $3.87B 100.0% | $3.50B 100.0% | $2.69B 100.0% | $2.21B 100.0% | $2.04B 100.0% | $1.81B 100.0% | $1.45B 100.0% | $1.27B 100.0% |
| Cost of Revenue | — | — | — | — | — | — | $255.5M 12.5% | $196.5M 10.9% | $137.6M 9.5% | $141.0M 11.1% |
| Cost of Products | — | — | — | — | — | — | — | — | $137.6M 9.5% | $141.0M 11.1% |
| Selling, General & Admin | $402.9M 8.7% | $335.2M 7.9% | $250.4M 6.5% | $231.2M 6.6% | $206.7M 7.7% | $191.7M 8.7% | $181.9M 8.9% | $176.9M 9.8% | $151.4M 10.5% | $138.1M 10.9% |
| Total Operating Expenses | $2.95B 63.5% | $2.66B 62.9% | $2.38B 61.6% | $2.13B 60.7% | $1.56B 57.8% | — | — | — | — | — |
| Operating Income | $1.70B 36.5% | $1.57B 37.1% | $1.49B 38.4% | $1.37B 39.3% | $1.14B 42.2% | $816.1M 37.0% | $716.5M 35.1% | $584.3M 32.4% | $461.3M 31.9% | $406.5M 32.0% |
| Interest Expense | — | — | — | — | — | $20.2M 0.9% | $19.8M 1.0% | $20.4M 1.1% | $23.8M 1.6% | $23.6M 1.9% |
| Interest & Investment Income | — | — | — | — | — | $1.4M 0.1% | $2.2M 0.1% | $1.3M 0.1% | $1.4M 0.1% | $1.4M 0.1% |
| Other Income (Expense), net | $198.9M 4.3% | $142.6M 3.4% | $67.8M 1.8% | -$34.0M -1.0% | -$14.6M -0.5% | -$15.3M -0.7% | -$11.5M -0.6% | -$21.8M -1.2% | -$21.2M -1.5% | -$10.6M -0.8% |
| Pretax Income | $1.90B 40.8% | $1.71B 40.5% | $1.55B 40.2% | $1.34B 38.3% | $1.12B 41.7% | $800.8M 36.3% | $705.0M 34.5% | $562.5M 31.2% | $440.1M 30.4% | $395.9M 31.2% |
| Income Tax Expense | $347.2M 7.5% | $352.3M 8.3% | $316.6M 8.2% | $250.8M 7.2% | $185.4M 6.9% | $100.9M 4.6% | $113.3M 5.5% | $144.5M 8.0% | $45.8M 3.2% | $125.5M 9.9% |
| Net Income | $1.55B 33.4% | $1.36B 32.2% | $1.24B 32.0% | $1.09B 31.1% | $936.5M 34.8% | $699.9M 31.7% | $591.7M 29.0% | $417.9M 23.1% | $394.2M 27.2% | $270.4M 21.3% |
| Per Share | ||||||||||
| EPS (Basic) | $1.61 | $1.42 | $1.30 | $1.15 | $0.99 | $3.00 | $2.57 | $1.80 | $1.72 | $1.18 |
| EPS (Diluted) | $1.59 | $1.40 | $1.28 | $1.13 | $0.97 | $2.93 | $2.46 | $1.73 | $1.66 | $1.11 |
| Weighted Avg Shares (Basic) | 965.3M | 960.7M | 953.6M | 949.7M | 945.0M | 233.2M | 230.5M | 231.8M | 228.7M | 228.8M |
| Weighted Avg Shares (Diluted) | 977.6M | 974.8M | 966.6M | 964.6M | 961.2M | 238.7M | 240.5M | 241.9M | 237.0M | 244.3M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.