Caseys General Stores Inc (CASY)

Quick 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
Cash	US$ in thousands	206,482	177,881	409,891	439,112	378,869	413,199	414,798	312,364	158,878	186,921	311,698	198,928	336,545	388,946	404,685	246,516	78,275	43,539	43,976	96,733
Short-term investments	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Receivables	US$ in thousands	17,066	21,765	2,142	—	23,347	6,111	—	21,102	44,071	10,113	17,231	8,361	9,578	—	—	—	14,667	46,383	44,775	39,554
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
Quick ratio		0.23	0.23	0.43	0.47	0.43	0.48	0.45	0.36	0.22	0.25	0.41	0.28	0.56	0.67	0.72	0.46	0.09	0.08	0.08	0.24

April 30, 2024 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($206,482K + $—K + $17,066K) ÷ $953,466K
= 0.23

The quick ratio of Casey's General Stores Inc has fluctuated over the past few years, indicating varying levels of liquidity. The quick ratio measures the company's ability to cover its short-term obligations with its most liquid assets. A quick ratio less than 1 could suggest potential liquidity issues.

Based on the data provided:
- The quick ratio has ranged from a low of 0.08 to a high of 0.72 over the past two years.
- The quick ratio was above 1 in some periods, indicating that the company had more than enough liquid assets to cover its short-term liabilities.
- However, in several periods, the quick ratio was below 1, suggesting that the company may have faced challenges in meeting its short-term obligations with its available liquid assets.

Overall, the trend in the quick ratio of Casey's General Stores Inc shows some variability, and it would be important to further investigate the reasons behind the fluctuations to assess the company's liquidity position accurately.