Vehicle Auction Facility Operations Expense measures the operating costs of Copart's facilities and related vehicle-processing network.
Copart reported $1.944 billion of facility operations expense in fiscal 2025.
Facility operations were about 41.8% of the two reported revenue lanes
Copart reported $3.969 billion of Vehicle Auction Service Revenue and $678.296 million of principal vehicle sales revenue, or about $4.647 billion combined.
Dividing $1.944 billion by that combined revenue gives about 41.8% as a scale check.
This is not a service gross-margin calculation because facility operations support the broader marketplace.
Facility operations plus vehicle cost totaled about $2.547 billion
Adding $602.997 million of Vehicle Auction Cost of Vehicle Sales produces about $2.547 billion across the two disclosed operating-cost lines.
That is roughly 54.8% of the combined service and principal-sales revenue figure.
The expense categories solve different jobs
Facility operations expense supports intake, storage, yard, towing, processing, auction, and related infrastructure. Cost of vehicle sales belongs specifically to vehicles sold as principal.
Keeping those categories separate is necessary to understand Copart's hybrid agent/principal model.
Primary sources: Copart 2025 Form 10-K and Copart fiscal 2026 results.
Part of the Online Vehicle Auction Economics
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- CPRTOpen operating-model research →17 of 17 reviewed concepts in Online Vehicle Auction EconomicsPhysical network, processing workflow, and facility cost7 of 7 bridge concepts supportedContinue through this bridge:Vehicle Auction Country FootprintVehicle Auction Global Location CountVehicle Auction Inspection Station CountVehicle Auction New Facility OpeningsVehicle Auction Seller Data Field CountVehicle Auction Title and Document Cycle
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Compare $1.944B of facility operations expense with the combined service/principal revenue base and the separate cost-of-vehicle-sales line.
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