Copart Tops Deloitte’s “The Exceptional 100” List of Top Performing US Companies
Dallas, TX - January 13, 2015 - Copart, Inc. (NASDAQ:CPRT), a leading online vehicle auction company, has topped "The Exceptional 100" list released by Deloitte earlier today. Performance and ranking for The Exceptional 100 were measured by Deloitte's new proprietary method that examines a company's overall economic performance including profitability, growth and shareholder value. A list of 100 U.S.-based, publicly traded companies were identified as top performers.
"Copart is excited and honored to be at the top of The Exceptional 100 list," said Jay Adair, Copart's chief executive officer. "It was our founder Willis Johnson's vision that set the frame work for the company we have become, as well as our 4,000 employees worldwide who continue to innovate and lead our business each day."
The Exceptional 100 is based on three features of financial performance that are often overlooked:
- Financial performance is multi-dimensional: The approach embraces the idea that profitability, growth and value all matter, and so it evaluates company performance across all three dimensions simultaneously.
- Relative performance matters: Deloitte compares any company against the full population of publicly-traded companies, adjusting for industry and size. According to Deloitte, this is potentially a much more robust approach to performance benchmarking than many companies tend to use.
- Chance must be separated from skill: A single year's results rarely reveals much about a company's sustained performance, but what is the right time period over which to measure performance? The Exceptional 100 uses advanced statistical analyses and modeling techniques to determine how well a company needs to perform, and for how long, to be quantifiably "better than lucky."
Copart topped The Exceptional 100 list with exceptional performance on all seven measures and an average exceptional streak of 16 years. Its probability of being exceptional on Value is 100 percent and its average probability across all measures is over 96 percent.
"When I look back at starting the company more than 30 years ago, failure was never an option," said Willis Johnson, Copart's Founder and Chairman of the Board of Directors. "What I was doing wasn't work. It was a labor of love. I surrounded myself with other people that felt the same way. The vision was always to make this company more than what it was when we started out. To see that come to light and be recognized for our performance and growth over the years is truly humbling."
Copart, founded in 1982, provides vehicle sellers with a full range of remarketing services to process and sell salvage and clean title vehicles to dealers, dismantlers, rebuilders, exporters and, in some states, to end users. Copart remarkets the vehicles through Internet sales utilizing its VB3technology. Copart sells vehicles on behalf of insurance companies, banks, finance companies, fleet operators, dealers, car dealerships and others as well as cars sourced from the general public. The company currently operates in the United States and Canada (www.copart.com), the United Kingdom (www.copart.co.uk), Brazil (www.copart.com.br), Germany (www.copart.de), the United Arab Emirates (www.copart.ae) and Spain (www.autoresiduos.com). Copart links sellers to more than 750,000 members in over 150 countries worldwide through our online multi-channel platform. For more information, or to become a member, visit www.Copart.com.