TIVP042: Copart (CPRT): The 100-Bagger Junk Yard w/ Daniel Mahncke & Shawn O’Malley
1Description
Daniel Mahncke and Shawn O’Malley dive into Copart, the salvage auction company that’s quietly become one of the best-performing stocks of the last three decades. From a single junkyard in California in the 1980s, Copart has grown into a global online marketplace that sells more than three million vehicles a year. With sellers ranging from major insurers and rental fleets to car dealers and finance companies, and buyers spanning over 190 countries, Copart has built a platform that turns totaled cars into a surprisingly durable business.
IN THIS EPISODE, YOU’LL LEARN:
00:00:00 Intro
00:01:12 How was Copart founded and what’s so special about the culture?
00:12:19 How does the competitive landscape look?
00:26:10 What are Copart’s competitive advantages?
00:36:48 What risks does Copart face through AVs and EVs?
00:52:48 What makes Copart’s management best in class.
00:58:47 What are the growth drivers and future business opportunities?
01:06:54 Whether Copart is attractively valued at its current levels.
01:11:03 Whether Shawn & Daniel add CPRT to The Intrinsic Value Portfolio.
*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.
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- Related episode: Copart Deep Dive w/ Leandro and Clay.
- Related episode: Junk to Gold Summary on We Study Billionaires.
- Rijnberk Invest Article.
- Explore our previous Intrinsic Value breakdowns: Paypal, Uber, Nike, Reddit, Amazon, Airbnb, TSMC, Alphabet, Ulta, LVMH, and Madison Square Garden Sports.
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I like this one and have been waiting for sometime to get in. My thesis is a bit different and goes more with the LKQ competitive side of the business being that a group of folks will require replacement parts as parts become more scarce in order to keep their older vehicles operational.This to avoid the useless gadgetry, excess spying, and loss of individual autonomy the state overlord authorities have mandated to now be embedded in all new vehicles for our convenience and well being of course