Caseys General Stores Inc (CASY)

Current ratio

		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
Total current assets	US$ in thousands	829,854	781,004	1,010,710	1,022,190	920,955	958,204	993,343	902,854	725,035	660,780	795,021	671,266	723,633	744,778	728,818	558,091	387,250	389,628	395,321	438,070
Total current liabilities	US$ in thousands	953,466	880,906	949,826	933,999	927,125	869,809	921,298	937,383	904,678	783,710	803,496	740,942	612,749	581,826	562,009	533,916	1,063,430	1,104,820	1,084,060	575,028
Current ratio		0.87	0.89	1.06	1.09	0.99	1.10	1.08	0.96	0.80	0.84	0.99	0.91	1.18	1.28	1.30	1.05	0.36	0.35	0.36	0.76

April 30, 2024 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $829,854K ÷ $953,466K
= 0.87

Caseys General Stores Inc's current ratio has shown fluctuations over the past two years. The current ratio, which measures the company's ability to cover its short-term liabilities with its short-term assets, was below 1 in the most recent period of April 30, 2024, indicating that its current liabilities exceeded its current assets. This could potentially raise concerns about the company's short-term liquidity.

However, looking at historical trends, the company's current ratio has varied between 0.80 and 1.30 over the past two years, with notable improvements seen in the beginning of 2021 and 2022. The ratios above 1 suggest that the company had more than enough current assets to cover its current liabilities during those periods, reflecting a stronger financial position in terms of liquidity.

It is important to note the significant drop in the current ratio in the most recent period, indicating a potential shift in the company's liquidity position. Further analysis of the company's financial statements and other liquidity metrics would be necessary to fully assess the factors influencing Caseys General Stores Inc's current ratio and overall financial health.