Caseys General Stores Inc (CASY)

Fixed asset turnover

		Apr 30, 2024	Apr 30, 2023	Apr 30, 2022	Apr 30, 2021	Apr 30, 2020
Revenue	US$ in thousands	14,862,900	15,094,500	12,952,600	8,707,190	9,175,300
Property, plant and equipment	US$ in thousands	4,585,640	4,214,820	3,980,540	3,493,460	3,323,800
Fixed asset turnover		3.24	3.58	3.25	2.49	2.76

April 30, 2024 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $14,862,900K ÷ $4,585,640K
= 3.24

Caseys General Stores Inc's fixed asset turnover ratio has shown some fluctuations over the past five years. The ratio ranged from 2.49 in 2021 to 3.58 in 2023, indicating varying efficiency in generating sales from its fixed assets during this period. A higher fixed asset turnover ratio suggests that the company is utilizing its fixed assets more efficiently to generate revenue.

In 2024, the fixed asset turnover ratio decreased to 3.24, down from the peak in 2023. This may indicate a decrease in the efficiency of Caseys General Stores Inc in using its fixed assets to generate revenue compared to the previous year. It is important for the company to assess the reasons behind this decline and take necessary steps to improve the utilization of its fixed assets to enhance overall operational efficiency and profitability.