Caseys General Stores Inc (CASY)

Cash ratio

		Apr 30, 2024	Apr 30, 2023	Apr 30, 2022	Apr 30, 2021	Apr 30, 2020
Cash and cash equivalents	US$ in thousands	206,482	378,869	158,878	336,545	78,275
Short-term investments	US$ in thousands	—	—	—	—	—
Total current liabilities	US$ in thousands	953,466	927,125	904,678	612,749	1,063,430
Cash ratio		0.22	0.41	0.18	0.55	0.07

April 30, 2024 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($206,482K + $—K) ÷ $953,466K
= 0.22

The cash ratio of Caseys General Stores Inc has fluctuated over the past five years. In April 2024, the cash ratio decreased to 0.22 from 0.41 in April 2023. This indicates that the company had $0.22 in cash and cash equivalents for every $1 of current liabilities in April 2024, a decline from the previous year.

Compared to the cash ratio of 0.18 in April 2022 and 0.55 in April 2021, the cash ratio in 2024 is closer to the lower end. A lower cash ratio may suggest that the company has a relatively lower level of liquid assets available to cover its short-term obligations.

However, it is worth noting that the cash ratio has shown significant variability over the years, with a notable increase from 0.07 in April 2020 to 0.55 in April 2021. This suggests fluctuations in the company's cash position and its ability to cover immediate liabilities with liquid assets.

Overall, the decreasing trend in the cash ratio from 2023 to 2024 may indicate a potential liquidity challenge for Caseys General Stores Inc, emphasizing the importance of monitoring the company's cash management strategies and operating cash flows to ensure sufficient liquidity for its operations and obligations.