What is a cash flow waterfall?

A cash flow waterfall is a bar chart that walks from operating cash flow through capital expenditure to free cash flow, then shows how the remaining cash is allocated — acquisitions, buybacks, dividends, debt, and other financing — ending at the net change in cash. Each step is colour-coded: green bars add to the running total, red bars subtract.

How does Copart (CPRT) spend its free cash flow?

For TTM through Q2 2026, Copart generated $1.69B of operating cash flow and $1.34B of free cash flow — a free cash flow margin of 79.5% of operating cash flow. The waterfall breaks down how the remaining cash was allocated across investing and financing activities.

How much did Copart (CPRT) return via buybacks and dividends?

The waterfall shows buybacks (share repurchases) and dividends paid as separate steps in the financing section. Together these represent Copart's shareholder returns for TTM through Q2 2026. You can compare these against free cash flow to assess the capital-return payout ratio.

Copart (CPRT) Cash Flow Waterfall

Operating CF

$1.69B

Capex

-$346M

Free Cash Flow

$1.34B

FCF Margin

+79.5%

Cash flow waterfall for Copart (CPRT) — TTM through Q2 2026

Free cash flow: $1.34B

Note: Other Investing is large — driven mainly by purchases or sales of investments.

Cash flow breakdown for Copart (CPRT) — TTM through Q2 2026

Line item	Amount	Running total
Operating Cash Flow	$1.69B	$1.69B
Capital Expenditure	-$346M	$1.34B
Free Cash Flow	$1.34B	$1.34B
Acquisitions	$31.9M	$1.37B
Other Investing	$1.22B	$2.59B
Share Buybacks	-$1.63B	$958M
Other Financing & FX	$21.3M	$979M
Net Cash Increase	$988M	$988M

Operating Cash Flow$1.69B
Capital Expenditure-$346M
Free Cash Flow$1.34B
Acquisitions$31.9M
Other Investing$1.22B
Share Buybacks-$1.63B
Other Financing & FX$21.3M
Net Cash Increase$988M

Want to see what drove the FCF change?Free Cash Flow Bridge

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