• Copart average return on tangible equity for 2023 was 24.99, a 16% decline from 2022.
• Copart average return on tangible equity for 2022 was 29.75, a 11.3% decline from 2021.
• Copart average return on tangible equity for 2021 was 33.54, a 18.27% decline from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.