CASY CASEYS GENERAL STORES INC

Overview and Growth

CASEYS GENERAL STORES INC generated $17.56B of revenue in fiscal 2026, with net income of $714.45M and an operating cash inflow of $1.38B. The $17.56B revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. Revenue was 10.2% above fiscal 2025 revenue of $15.94B, marking a year-over-year increase. Diluted earnings per share were $19.16, translating the period’s attributable earnings into the amount reported for each diluted share. The per-share result recorded a 30.9% increase from fiscal 2025 diluted EPS of $14.64. The company employed $8.94B of total assets, the balance-sheet base supporting its current operating and cash-flow results. Asset turnover was 1.97x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

After reported cost of revenue, the company retained $4.32B as gross profit before recognizing operating expenses and other items. Gross profit represented 24.6% of revenue, showing how much of the top line remained after direct costs. The bottom-line result was net income of $714.45M, after the operating, financing, tax, and other items recognized for the period. Measured against reported revenue, net income produced a 4.1% margin after operating costs and the remaining recognized items. Income tax expense totaled $222.57M, providing the reported tax component that separates pretax and after-tax earnings. The relationship between net income and period-end equity was 18.1%, indicating the profitability achieved on book capital. The net-income-to-assets relationship measured 8.0%, showing earnings relative to the full balance sheet.

Liquidity and Capital Structure

Total assets were $8.94B, supported by $4.98B of liabilities and $3.95B of shareholder equity. The near-term balance sheet paired $1.36B of current assets with $1.35B of current liabilities at the reporting date. At 1.01x, the current ratio shows that short-term assets were greater than short-term liabilities at period end. Reported cash and equivalents were $522.99M, separating immediately recognizable cash resources from the rest of the current-asset base. Cash and equivalents represented 38.7% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. Borrowings totaled $2.43B, adding a fixed financing obligation alongside the company’s equity capital. Against book equity, debt measured 0.62x, placing the company’s financial leverage in clear balance-sheet terms. The debt-to-assets relationship was 27.2%, comparing borrowing with the total asset balance. Liabilities represented 55.8% of total assets, quantifying the liability-funded share of the company’s resource base. Measured against total assets, cash and equivalents represented 5.9%, a balance-sheet composition measure rather than a liquidity forecast. The asset base changed 8.9% from $8.21B in fiscal 2025, leaving current total assets higher year over year. Against $3.51B of equity in fiscal 2025, the current book-equity balance moved 12.6% and ended higher. The reported cash balance changed 60.1% from $326.66M in fiscal 2025, ending higher year over year.

Cash Flow and Earnings Quality

Operating activities produced a cash inflow of $1.38B, giving the cash-flow counterpart to the accrual-based profit measures reported for the year. The operating-cash-flow-to-net-income relationship was 1.93x, comparing cash generated by operations with the bottom-line earnings result. Capital expenditures used $655.92M, identifying the reported investment outflow deducted from operating cash flow in the free-cash-flow calculation. Capital spending absorbed 47.6% of operating cash flow, quantifying the share of cash from operations directed to investment. After capital spending, free cash flow was $721.62M, leaving cash available for debt reduction, shareholder returns, or further investment. Relative to revenue, free cash flow equaled 4.1%, showing how much sales converted into cash after investment. The free-cash-flow-to-assets relationship was 8.1%, comparing post-investment cash with the balance-sheet asset base.

Based on the annual report for the fiscal year ending Apr 30, 2026. Analysis generated Oct 21, 2026.