Caseys General Stores Inc (CASY)

Debt-to-assets ratio

		Apr 30, 2024	Apr 30, 2023	Apr 30, 2022	Apr 30, 2021	Apr 30, 2020
Long-term debt	US$ in thousands	1,582,760	1,620,510	1,663,400	1,361,400	714,502
Total assets	US$ in thousands	6,347,430	5,943,270	5,505,730	4,460,310	3,943,890
Debt-to-assets ratio		0.25	0.27	0.30	0.31	0.18

April 30, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $1,582,760K ÷ $6,347,430K
= 0.25

The debt-to-assets ratio of Caseys General Stores Inc has shown a decreasing trend over the past five years, indicating a relative reduction in the company's reliance on debt to finance its assets. In particular, the ratio decreased from 0.25 in April 2024 to 0.27 in April 2023, and further decreased to 0.30 in April 2022. This downward trend continued with the ratio dropping to 0.31 in April 2021, before significantly decreasing to 0.18 in April 2020.

A lower debt-to-assets ratio suggests that the company has a healthier financial position with a lower level of debt in relation to its total assets. This may imply that Caseys General Stores Inc has been able to manage its debt levels effectively and/or increase its asset base without significantly increasing its debt obligations. However, it is important to note that a very low debt-to-assets ratio could also indicate underutilization of debt for potential growth opportunities. Overall, the decreasing trend in the debt-to-assets ratio reflects positively on the company's financial stability and management of debt.