Caseys General Stores Inc (CASY)

Receivables turnover

		Apr 30, 2025	Jan 31, 2025	Oct 31, 2024	Jul 31, 2024	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
Revenue (ttm)	US$ in thousands	15,940,900	15,548,160	14,973,780	15,091,410	14,862,920	14,591,600	14,594,910	14,509,090	15,094,480	15,224,720	14,940,880	14,225,240	12,952,590	11,871,890	10,831,200	9,784,160	8,707,190	8,141,830	8,382,000	8,653,690
Receivables	US$ in thousands	180,746	183,155	156,407	164,926	168,859	158,456	149,118	133,726	143,894	133,439	157,491	166,989	152,099	101,555	107,829	117,378	89,276	66,617	56,109	55,647
Receivables turnover		88.20	84.89	95.74	91.50	88.02	92.09	97.87	108.50	104.90	114.09	94.87	85.19	85.16	116.90	100.45	83.36	97.53	122.22	149.39	155.51

April 30, 2025 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $15,940,900K ÷ $180,746K
= 88.20

The receivables turnover ratio of Caseys General Stores Inc. over the period from July 31, 2020, to April 30, 2025, exhibits notable fluctuations, reflecting varying efficiencies in collecting accounts receivable.

Initially, the ratio was quite high at 155.51 as of July 31, 2020, indicating a highly efficient receivables collection process, with receivables turning over approximately 156 times within the year. This elevated level persisted into October 31, 2020, at 149.39, suggesting sustained efficiency.

From January 31, 2021, the ratio experienced a decline to 122.22, and continued decreasing markedly in the subsequent quarter to 97.53 by April 30, 2021. The downward trend persisted through July 31, 2021, reaching 83.36, the lowest point in the observed period, which indicates a potential slowdown in collection efficiency or a strategic change that resulted in longer collection periods.

In late 2021, the ratio shows signs of recovery, climbing slightly to 100.45 by October 31, 2021, and further increasing to 116.90 by January 31, 2022. This upward movement suggests an improvement in receivables collection efficiency, possibly attributable to operational adjustments or changes in customer credit policies.

During 2022, the ratio oscillated within a range, with a notable dip to 85.16 in April 2022, followed by a slight rise to 85.19 in July 2022 and then a moderate increase to 94.87 by October 2022. The upward trend continued into early 2023 with ratios of 114.09 and 104.90, before leveling at roughly 108.50 in July 2023.

In late 2023 and early 2024, the receivables turnover ratio remained relatively stable, fluctuating between approximately 92 and 97, with a peak of 114.09 at the beginning of 2023 and a low of 88.02 in April 2024. Further months show a slight decline but remain within a similar range.

Most recently, the ratio is observed at 95.74 as of October 31, 2024, with a marginal decrease to 84.89 projected for January 31, 2025. The latest data for April 2025 indicates a ratio of 88.20, suggesting a stabilization around a moderate level of receivables turnover.

Overall, the data indicates that Caseys General Stores Inc. initially managed a very high receivables turnover but experienced a decline in collection efficiency around 2021. Since then, there has been a gradual recovery and stabilization, although ratios do not return to the initial peak levels. The fluctuations point to periods of operational or strategic shifts that affected the speed of receivables collection over the analyzed timeframe.