Caseys General Stores Inc (CASY)

Payables 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
Payables	US$ in thousands	569,527	521,948	601,310	570,485	560,546	518,250	587,030	618,931	588,783	398,997	509,300	453,514	355,471	332,103	323,662	310,118	184,800	275,903	327,114	347,181
Payables turnover		21.15	22.72	19.79	20.83	22.29	24.41	21.18	19.08	18.09	24.19	17.13	17.09	19.00	18.31	19.47	21.23	38.04	27.07	22.30	21.29

April 30, 2024 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $12,044,110K ÷ $569,527K
= 21.15

The payables turnover ratio for Caseys General Stores Inc has shown variability over the historical period analyzed. The company's payables turnover ratio ranged from a low of 17.09 to a high of 27.07, indicating fluctuations in the efficiency of paying off its accounts payable during the respective periods.

In general, a higher payables turnover ratio suggests that the company is able to efficiently manage its accounts payable and settle its obligations more frequently within a given period. On the other hand, a lower ratio may indicate that the company is taking longer to pay its suppliers, which could potentially affect supplier relationships and cash flow management.

It is crucial for Caseys General Stores Inc to monitor its payables turnover ratio consistently to ensure it maintains an optimal balance between maximizing payment efficiency and preserving cash flow. Additionally, further analysis of the company's payables turnover in conjunction with other financial metrics and industry benchmarks would provide a more comprehensive understanding of its financial performance and operational efficiency.