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TIP549: 2 High-Quality Compounders
We Study Billionaires - The Investor’s Podcast Network
Copart's Network Effects
When I look at the financials for copart, I see a ton of good things. Service revenue was up 24% in 2022 at $2.8 billion while purchase vehicles revenue was up 61%. They've been profitable each of the last 20 years and their return on invested capital tended to be in the mid teens but it really jumped back in 2017. Copart actually doesn't pay a dividend because they have so many investment opportunities that they're capitalizing on.
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