NASDAQ: CASY
Casey's
Consumer Staples · Retail-Auto Dealers & Gasoline Stations
52-week range
$497.38$927.85
Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.Figures shown are for the trailing 12 months to Jul 31, 2026. Hover or tap a column for another year.$32.2B
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| Period | Market cap |
|---|---|
| FY2017, ended Apr 30, 2017 | $4.32B |
| FY2018, ended Apr 30, 2018 | $3.53B |
| FY2019, ended Apr 30, 2019 | $4.87B |
| FY2020, ended Apr 30, 2020 | $5.58B |
| FY2021, ended Apr 30, 2021 | $8.23B |
| FY2022, ended Apr 30, 2022 | $7.49B |
| FY2023, ended Apr 30, 2023 | $8.53B |
| FY2024, ended Apr 30, 2024 | $11.9B |
| FY2025, ended Apr 30, 2025 | $17.2B |
| FY2026, ended Apr 30, 2026 | $30.4B |
| Trailing 12 months to Jul 31, 2026 (through Q1 FY2027) | $32.2B |
Revenue
By fiscal year, then the trailing 12 months.Figures shown are for the trailing 12 months to Jul 31, 2026. Hover or tap a column for another year.$18.7B
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| Period | Revenue |
|---|---|
| FY2017, ended Apr 30, 2017 | $7.51B |
| FY2018, ended Apr 30, 2018 | $8.39B |
| FY2019, ended Apr 30, 2019 | $9.35B |
| FY2020, ended Apr 30, 2020 | $9.18B |
| FY2021, ended Apr 30, 2021 | $8.71B |
| FY2022, ended Apr 30, 2022 | $13.0B |
| FY2023, ended Apr 30, 2023 | $15.1B |
| FY2024, ended Apr 30, 2024 | $14.9B |
| FY2025, ended Apr 30, 2025 | $15.9B |
| FY2026, ended Apr 30, 2026 | $17.6B |
| Trailing 12 months to Jul 31, 2026 (through Q1 FY2027) | $18.7B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.Figures shown are for the trailing 12 months to Jul 31, 2026. Hover or tap a column for another year.Show tableHide table
| Period | Net income | Free cash flow |
|---|---|---|
| FY2017, ended Apr 30, 2017 | $177M | $25.9M |
| FY2018, ended Apr 30, 2018 | $318M | −$158M |
| FY2019, ended Apr 30, 2019 | $204M | $136M |
| FY2020, ended Apr 30, 2020 | $264M | $65.3M |
| FY2021, ended Apr 30, 2021 | $313M | $363M |
| FY2022, ended Apr 30, 2022 | $340M | $462M |
| FY2023, ended Apr 30, 2023 | $447M | $405M |
| FY2024, ended Apr 30, 2024 | $502M | $371M |
| FY2025, ended Apr 30, 2025 | $547M | $585M |
| FY2026, ended Apr 30, 2026 | $714M | $722M |
| Trailing 12 months to Jul 31, 2026 (through Q1 FY2027) | $773M | $649M |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.Figures shown are for the trailing 12 months to Jul 31, 2026. Hover or tap a column for another year.$524M
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| Period | Cash and cash equivalents |
|---|---|
| FY2017, ended Apr 30, 2017 | $76.7M |
| FY2018, ended Apr 30, 2018 | $53.7M |
| FY2019, ended Apr 30, 2019 | $63.3M |
| FY2020, ended Apr 30, 2020 | $78.3M |
| FY2021, ended Apr 30, 2021 | $337M |
| FY2022, ended Apr 30, 2022 | $159M |
| FY2023, ended Apr 30, 2023 | $379M |
| FY2024, ended Apr 30, 2024 | $206M |
| FY2025, ended Apr 30, 2025 | $327M |
| FY2026, ended Apr 30, 2026 | $523M |
| Trailing 12 months to Jul 31, 2026 (through Q1 FY2027) | $524M |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.Figures shown are for the trailing 12 months to Jul 31, 2026. Hover or tap a column for another year.$2.43B
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| Period | Total debt |
|---|---|
| FY2017, ended Apr 30, 2017 | $923M |
| FY2018, ended Apr 30, 2018 | $1.31B |
| FY2019, ended Apr 30, 2019 | $1.30B |
| FY2020, ended Apr 30, 2020 | $1.27B |
| FY2021, ended Apr 30, 2021 | $1.35B |
| FY2022, ended Apr 30, 2022 | $1.62B |
| FY2023, ended Apr 30, 2023 | $1.58B |
| FY2024, ended Apr 30, 2024 | $1.54B |
| FY2025, ended Apr 30, 2025 | $2.41B |
| FY2026, ended Apr 30, 2026 | $2.32B |
| Trailing 12 months to Jul 31, 2026 (through Q1 FY2027) | $2.43B |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Down 4.1% since 2017.Figures shown are for the trailing 12 months to Jul 31, 2026. Hover or tap a column for another year.37.0M
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| Period | Shares outstanding |
|---|---|
| FY2017, ended Apr 30, 2017 | 38.5M |
| FY2018, ended Apr 30, 2018 | 36.6M |
| FY2019, ended Apr 30, 2019 | 36.8M |
| FY2020, ended Apr 30, 2020 | 36.8M |
| FY2021, ended Apr 30, 2021 | 37.0M |
| FY2022, ended Apr 30, 2022 | 37.2M |
| FY2023, ended Apr 30, 2023 | 37.3M |
| FY2024, ended Apr 30, 2024 | 37.1M |
| FY2025, ended Apr 30, 2025 | 37.2M |
| FY2026, ended Apr 30, 2026 | 37.0M |
| Trailing 12 months to Jul 31, 2026 (through Q1 FY2027) | 37.0M |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for the trailing 12 months to Jul 31, 2026. Hover or tap a column for another year.Net: $149M more bought back than issued
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| Period | Bought back | Paid to employees |
|---|---|---|
| FY2017, ended Apr 30, 2017 | $47.9M | $10.7M |
| FY2018, ended Apr 30, 2018 | $215M | $18.8M |
| FY2019, ended Apr 30, 2019 | $37.5M | $16.4M |
| FY2020, ended Apr 30, 2020 | $0 | $18.1M |
| FY2021, ended Apr 30, 2021 | $0 | $32.0M |
| FY2022, ended Apr 30, 2022 | $0 | $38.0M |
| FY2023, ended Apr 30, 2023 | $0 | $47.0M |
| FY2024, ended Apr 30, 2024 | $105M | $41.4M |
| FY2025, ended Apr 30, 2025 | $734K | $47.7M |
| FY2026, ended Apr 30, 2026 | $201M | $63.4M |
| Trailing 12 months to Jul 31, 2026 (through Q1 FY2027) | $214M | $65.1M |
Revenue (TTM)
$18.7B
+13.8% YoY
Net income (TTM)
$773M
+32.9% YoY
Cash
$524M
+14.4% YoY
Total debt
$2.43B
−1.6% YoY
Valuation
At current price- Market Cap
- $25.1B
- P/E
- 32.5×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 1.3×
- Price / Book
- 6.1×
- EV / EBITDA
- —. (Market cap + debt − cash) / EBITDA (TTM)
Growth
Trailing 12 months- Revenue (TTM)
- $18.7B
- Revenue Growth YoY
- 13.8%
- Revenue CAGR 3Y
- 5.2%
- Revenue CAGR 5Y
- 15.1%
- EPS Growth YoY
- 33.2%
- Net Income Growth YoY
- 32.9%
Profitability
Trailing 12 months- Gross Margin
- —
- Operating Margin
- —
- Net Margin
- 4.1%
- FCF Margin
- 3.5%
- Return on Equity
- 20.0%
Earnings
Trailing 12 months- Net Income
- $773M
- EPS (diluted)
- $20.76
- EBITDA
- —. Operating income + depreciation & amortization
- Operating Income
- —
Balance Sheet
As of Jul 31, 2026- Cash and cash equivalents
- $524M
- Total Debt
- $2.43B
- Net Debt
- $1.91B
- Total Assets
- $9.12B
- Total Liabilities
- $5.03B
- Shareholders' Equity
- $4.09B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $1.39B
- Capital Expenditure
- $740M
- Free Cash Flow
- $649M
Dividends and risk
Last 12 months- Dividend Yield
- 0.4%
- Dividend / Share
- $3.01
- Beta (5Y)
- 0.58
Every ratio is calculated from the company’s reported figures.
Strength
Revenue is up 13.8% year over year, at $18.7B.
Note
Net margin of 4.1% over the last 12 months.
Watch
Carries $1.91B of net debt without positive EBITDA.
Note
Free cash flow of $649M, 3.5% of revenue.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-K for the fiscal year ended Apr 30, 2026 · filed Jun 22, 2026
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2025 · 10-K68Mildly positive
68Mildly positive
10-K for the fiscal year ended Apr 30, 2025
Filed Jun 23, 2025 · Read the filing on EDGAR
- Revenue rose 7.3% to $15.94 billion and net income rose 8.9% to $546.5 million, with most of the revenue gain from the Fikes acquisition.
- Casey's bought Fikes on November 1, 2024, its largest deal ever, adding 198 stores, a wholesale fuel network and its first fuel terminal.
- Store count reached 2,904, up from 2,658, and now includes first stores in Alabama, Florida and Mississippi.
- Casey's took on $1.1 billion of new debt for the deal, raising interest costs 57.1%, but operating cash flow grew to $1.09 billion.
Business momentum
Improving
“Net income increased by $44,548 (8.9%) to $546,520 in fiscal 2025 from $501,972 in fiscal 2024.”
Outlook
Positive
“While the Company believes that its average revenue less cost of goods sold per gallon (excluding depreciation and amortization) will remain elevated from historical levels for the foreseeable future”
Financial stress
Low
“We do not expect such capital needs to adversely affect liquidity.”
Tone against the previous report
About the same
Red flags
None found in this report.
Positives
Record store growth
“Built or acquired 270 additional stores, the largest annual growth in Company history.”
Prepared food sales kept growing
“Prepared food and dispensed beverage revenue increased by $150,162 (10.3%), due to an increase in same-store sales of 3.5% and an increase of approximately 6.8% due to store growth.”
Stronger operating cash flow
“Net cash provided by operating activities was $1,090,854 for the year ended April 30, 2025, compared to $892,953 for the year ended April 30, 2024, an increase of $197,901.”
Concerns
Growth relied mostly on new stores, with flat fuel volume at existing ones
“The increase in gallons sold was primarily attributable to store growth, as same-store gallons sold increased 0.1%.”
Higher interest costs from acquisition debt
“Interest, net increased $30,510 (57.1%) to $83,951 in fiscal 2025, primarily due to issuing incremental debt of $1,100,000 to partially fund the acquisition of Fikes.”
Operating expenses grew faster than revenue
“Operating expenses increased $263,843 (11.5%) to $2,552,356 in fiscal 2025.”
New risks since the previous report
Hurricane exposure from new Florida stores
“In addition, certain of the stores acquired in the Fikes transaction are located in the South, in particular Florida, which is susceptible to hurricanes.”
Fuel storage hazards now include an owned terminal
“We store fuel in storage tanks at our retail locations and in the fuel terminal acquired in the recent Fikes transaction.”
Greater exposure to interest rate changes on term loans
“Based upon the outstanding balance of the Company's term loan facilities as of April 30, 2025, an immediate 100-basis-point move in interest rates would have an approximate annualized impact of $10.2 million on interest expense.”
Biggest risks named
- Volatile wholesale fuel costs and fuel margins
- Integrating acquisitions, including the large Fikes deal
- Weak economy and inflation reducing customer spending
- Rising food ingredient costs, especially cheese
- Labor shortages and rising wages
Artificial intelligence in this business: Not mentioned
How the score adds up
| Starting point | 60 | |
| Business momentum | +6 | |
| Outlook | +3 | |
| Tone against the previous report | 0 | |
| Financial stress | 0 | |
| Red flags | 0 | |
| New risks | −1.5 | |
| Score | 68 | |
Written by AI (Claude Opus 5.5) from the report’s text. 12 of 12 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-K | Jun 22, 2026 | Pro | |||
| 10-K | Jun 23, 2025 | 68 | Improving | None | |
| 10-K | Jun 24, 2024 | 69 | Improving | None | |
| 10-K | Jun 23, 2023 | 72 | Strong improvement | None | |
| 10-K | Jun 24, 2022 | 68 | Strong improvement | None | |
| 10-K | Jun 25, 2021 | 55 | Mixed | None | |
| 10-K | Jun 26, 2020 | 52 | Improving | None | |
| 10-K | Jun 28, 2019 | 57 | Mixed | None | |
| 10-K | Jun 29, 2018 | 55 | Mixed | None | |
| 10-K | Jun 29, 2017 | 53 | Mixed | None |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-Q for Q1 FY2027 (period ended Jul 31, 2026), filed Sep 8, 2026. View filings on SEC EDGAR