CPRT
Copart, Inc.
Is CPRT Halal?
Vehicle auction and remarketing marketplace with a generally permissible core business; current liquidity screens fail on cash and Treasury holdings.
What You Should Know
Copart's April 2026 filing reports $9.649 billion of assets, no conventional notes or drawn revolving debt, $3.354 billion of cash and restricted cash, $846 million of held-to-maturity securities, $794 million of receivables and $1.237 billion of quarterly revenue. Debt/assets are 0.00%, liquidity/assets 43.52% and receivables plus cash/assets 43.00%; disclosed net interest income is $38.8 million, or 3.14% of revenue.
⚠️ Concerns
- •Identifiable liquidity/assets are 43.52% and exceed the examined asset-based limits
- •Disclosed net interest income from cash and Treasury holdings is 3.14% of quarterly revenue
- •Seller and buyer categories include insurers, banks, finance companies, dealers, dismantlers and exporters
- •Operating and finance lease liabilities, vehicle pooling, salvage titles and environmental handling require continuing review
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-04-30; calculated 2026-07-13.
0 / 9,649.036
4,199.712 / 9,649.036
4,148.614 / 9,649.036
38.813 / 1,237.066
- Financial
- Fails
- Overall
- Fails
Debt is 0.00% and receivables plus cash are 43.00%, both below the examined FTSE limits, but identifiable liquidity is 43.52% and exceeds the examined 33.333% limit. Disclosed net interest income is 3.14%; business activity remains incomplete.
- Financial
- Fails
- Overall
- Fails
Debt is 0.00%, but identifiable liquidity is 43.52% and receivables plus cash are 43.00%, exceeding the examined MSCI total-assets limits. This is a calculation against the named method, not an index-membership claim; the business allocation remains incomplete.
- Financial
- Fails
- Overall
- Fails
Debt is 0.00%, but identifiable conventional liquidity is 43.52% and exceeds the examined 33% Malaysia SAC limit. This is a calculation against SAC ratios, not an official SAC classification of a U.S.-listed security; screened business revenue remains unavailable.
- Financial
- Not calculated
- Overall
- Not calculated
A properly licensed and reproducible historical market-cap series is not stored, so these methods are not estimated from a current spot price.
Business-activity disclosure
Copart provides internet auction and vehicle-remarketing services, connecting sellers with licensed dismantlers, rebuilders, repair businesses, dealers, exporters and the public. Used and salvage vehicle commerce and marketplace service fees are generally permissible, while customer categories, repossessed vehicles, insurance relationships and end uses require continuing qualitative review.
Limitation: The filing identifies seller and buyer categories but does not isolate revenue by bank or finance-company consignor, vehicle type, customer end use, insurance relationship or other potentially prohibited category into a universal activity numerator.
Purification
Disclosed net interest income is $38.813 million, or 3.14% of quarterly revenue, but the filing does not provide a universal allocation for customer categories or end uses and the interest line is net. No fixed purification percentage is prescribed; readers should follow the scholar or methodology they use.
Inputs, assumptions and primary sources
- Debt is entered as zero because the April 30, 2026 balance sheet reports operating and finance lease liabilities but no conventional notes or drawn revolving debt. Current and non-current lease liabilities are not added to the interest-bearing debt input, but remain a qualitative consideration.
- Cash uses the reported $3.354142 billion of cash, cash equivalents and restricted cash. The filing says cash equivalents include bank deposits, U.S. Treasury bills and money-market accounts; the separately reported $845.570 million held-to-maturity securities balance is added without treating it as a second cash balance.
- Receivables use $794.472 million of accounts receivable net of the reported allowance for credit losses. Revenue uses $1.237066 billion for the three months ended April 30, 2026: $1.056080 billion of service revenue and $180.986 million of vehicle sales.
- The filing reports $38.813 million of net interest income for the quarter, or 3.14% of quarterly revenue. This is disclosed net interest income, not an estimate of every return earned on cash and held-to-maturity securities.
- Copart reports a general-purpose online auction and vehicle-remarketing model, but does not quantify a universal prohibited-revenue numerator by seller, buyer, vehicle category, insurance relationship or end use. No zero-haram-revenue claim is entered.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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