Caseys General Stores Inc (CASY)

Inventory turnover

		Apr 30, 2024	Jan 31, 2024	Oct 31, 2023	Jul 31, 2023	Apr 30, 2023	Jan 31, 2023	Oct 31, 2022	Jul 31, 2022	Apr 30, 2022	Jan 31, 2022	Oct 31, 2021	Jul 31, 2021	Apr 30, 2021	Jan 31, 2021	Oct 31, 2020	Jul 31, 2020	Apr 30, 2020	Jan 31, 2020	Oct 31, 2019	Jul 31, 2019
Cost of revenue (ttm)	US$ in thousands	12,044,110	11,859,130	11,900,640	11,881,950	12,495,620	12,648,900	12,435,470	11,809,330	10,648,230	9,650,170	8,723,450	7,752,280	6,755,560	6,082,440	6,300,750	6,582,830	7,030,610	7,468,830	7,295,300	7,392,460
Inventory	US$ in thousands	428,722	414,721	418,901	424,728	376,085	387,136	393,320	399,138	396,199	351,377	350,182	338,082	286,598	271,421	249,842	238,795	236,007	263,185	271,443	273,755
Inventory turnover		28.09	28.60	28.41	27.98	33.23	32.67	31.62	29.59	26.88	27.46	24.91	22.93	23.57	22.41	25.22	27.57	29.79	28.38	26.88	27.00

April 30, 2024 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $12,044,110K ÷ $428,722K
= 28.09

Inventory turnover for Caseys General Stores Inc has been relatively stable over the past 20 quarters, ranging from a low of 22.41 to a high of 33.23. The average inventory turnover ratio during this period is approximately 27.60, indicating that, on average, the company sells through its inventory about 27.60 times per year.

A higher inventory turnover ratio generally indicates that the company is efficiently managing its inventory levels and effectively selling its products. The increasing trend in inventory turnover from July 2021 to July 2023 suggests that Caseys General Stores Inc has been improving its inventory management practices during this period.

Overall, a consistent and relatively high inventory turnover ratio reflects positively on the company's ability to manage its inventory efficiently, generate sales, and maintain a healthy cash conversion cycle. This analysis suggests that Caseys General Stores Inc has been effectively utilizing its inventory to drive sales and maintain solid financial performance.