Caseys General Stores Inc (CASY)

Receivables turnover

		Apr 30, 2025	Apr 30, 2024	Apr 30, 2023	Apr 30, 2022	Apr 30, 2021
Revenue	US$ in thousands	15,940,900	14,862,900	15,094,500	12,952,600	8,707,190
Receivables	US$ in thousands	181,516	168,859	143,894	152,099	89,276
Receivables turnover		87.82	88.02	104.90	85.16	97.53

April 30, 2025 calculation

Receivables turnover = Revenue ÷ Receivables
= $15,940,900K ÷ $181,516K
= 87.82

The receivables turnover ratio of Caseys General Stores Inc. over the specified period exhibits notable fluctuations, indicative of variations in the efficiency with which the company collects its accounts receivable.

As of April 30, 2021, the receivables turnover ratio was 97.53, suggesting a high level of efficiency in collecting receivables during that period. This figure slightly declined to 85.16 by April 30, 2022, reflecting a decrease in collection efficiency or an increase in receivables outstanding relative to credit sales.

Subsequently, the ratio increased markedly to 104.90 by April 30, 2023. This upward movement indicates an improvement in the company's receivables management, with faster collection of receivables during this period. However, in the following year, the ratio decreased again to 88.02 as of April 30, 2024, suggesting a slowdown in receivables collection or changes in credit policies or sales mix.

By April 30, 2025, the receivables turnover ratio was recorded at 87.82, essentially stable compared to the previous year, though still below the peak observed in 2023. Overall, the trend shows variability in collection efficiency, with a significant peak in 2023, followed by a stabilization at a somewhat lower level. These fluctuations could be attributable to changes in credit policy, customer payment behaviors, or macroeconomic factors influencing receivables collection.

In conclusion, the receivables turnover ratios over the analyzed period reflect cyclical shifts in receivables management efficiency. The company's ability to regularly convert receivables into cash appears to have improved notably in 2023 but has since experienced some moderation, emphasizing the importance of ongoing credit management strategies to maintain optimal collection cycles.