TIVP042: Copart (CPRT): The 100-Bagger Junk Yard w/ Daniel Mahncke & Shawn O’Malley
The Intrinsic Value Podcast - The Investor’s Podcast Network
Acquisitions and International Growth Strategy
Daniel covers Copart's targeted M&A, Purple Wave stake, and expansion into international markets with service-model conversion.
Daniel Mahncke and Shawn O’Malley dive into Copart, the salvage auction company that’s quietly become one of the best-performing stocks of the last three decades. From a single junkyard in California in the 1980s, Copart has grown into a global online marketplace that sells more than three million vehicles a year. With sellers ranging from major insurers and rental fleets to car dealers and finance companies, and buyers spanning over 190 countries, Copart has built a platform that turns totaled cars into a surprisingly durable business.
IN THIS EPISODE, YOU’LL LEARN:
00:00:00 Intro 00:01:12 How was Copart founded and what’s so special about the culture? 00:12:19 How does the competitive landscape look? 00:26:10 What are Copart’s competitive advantages? 00:36:48 What risks does Copart face through AVs and EVs? 00:52:48 What makes Copart’s management best in class. 00:58:47 What are the growth drivers and future business opportunities? 01:06:54 Whether Copart is attractively valued at its current levels. 01:11:03 Whether Shawn & Daniel add CPRT to The Intrinsic Value Portfolio.
*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.
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- Related episode: Copart Deep Dive w/ Leandro and Clay.
- Related episode: Junk to Gold Summary on We Study Billionaires.
- Rijnberk Invest Article.
- Explore our previous Intrinsic Value breakdowns: Paypal, Uber, Nike, Reddit, Amazon, Airbnb, TSMC, Alphabet, Ulta, LVMH, and Madison Square Garden Sports.
- Related books mentioned in the podcast.
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