Caseys General Stores Inc (CASY)

Inventory turnover

		Apr 30, 2024	Apr 30, 2023	Apr 30, 2022	Apr 30, 2021	Apr 30, 2020
Cost of revenue	US$ in thousands	12,218,700	12,651,800	10,798,000	6,885,030	7,030,610
Inventory	US$ in thousands	428,722	376,085	396,199	286,598	236,007
Inventory turnover		28.50	33.64	27.25	24.02	29.79

April 30, 2024 calculation

Inventory turnover = Cost of revenue ÷ Inventory
= $12,218,700K ÷ $428,722K
= 28.50

Caseys General Stores Inc's inventory turnover has fluctuated over the past five years, ranging from a low of 24.02 in April 2021 to a high of 33.64 in April 2023. The inventory turnover ratio measures how efficiently the company is managing its inventory by showing how many times the inventory is sold and replaced over a specific period.

A high inventory turnover ratio indicates that the company is selling its inventory quickly, which is generally favorable as it minimizes holding costs and reduces the risk of obsolete inventory. Conversely, a low inventory turnover ratio may suggest either overstocking or difficulties in selling products.

In the latest available data as of April 30, 2024, Caseys General Stores Inc's inventory turnover stood at 28.50. This indicates that the company is efficiently managing its inventory, selling and restocking its inventory approximately 28.50 times during the year. It is essential for the company to monitor this ratio over time to ensure optimal inventory management and cash flow efficiency.