Caseys General Stores Inc (CASY)

Debt-to-assets 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
Long-term debt	US$ in thousands	1,582,760	1,583,610	1,596,790	1,598,520	1,620,510	1,634,500	1,639,580	1,639,180	1,663,400	1,766,050	1,677,390	1,682,170	1,361,400	1,362,080	1,361,920	1,281,740	714,502	715,121	715,060	1,303,430
Total assets	US$ in thousands	6,347,430	6,207,010	6,227,460	6,062,350	5,943,270	5,840,620	5,790,460	5,679,140	5,505,730	5,401,940	5,252,110	5,075,970	4,460,310	4,396,990	4,323,670	4,098,990	3,943,890	3,922,030	3,865,870	3,836,750
Debt-to-assets ratio		0.25	0.26	0.26	0.26	0.27	0.28	0.28	0.29	0.30	0.33	0.32	0.33	0.31	0.31	0.31	0.31	0.18	0.18	0.18	0.34

April 30, 2024 calculation

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

Caseys General Stores Inc's debt-to-assets ratio has varied over the past several quarters, ranging from 0.18 to 0.34. The ratio indicates the proportion of the company's assets financed by debt, with lower ratios suggesting lesser reliance on debt for funding operations.

The trend in the debt-to-assets ratio shows an increase from 0.18 in July 2020 to 0.34 in October 2021, indicating a significant rise in debt relative to assets during this period. Subsequently, the ratio fluctuated between 0.26 and 0.33, suggesting some variability in the company's debt and asset levels.

The company's debt-to-assets ratio has remained relatively stable around 0.26 to 0.28 in recent quarters, indicating a consistent level of debt relative to assets. It is essential to monitor the trend in the ratio to assess the company's financial leverage and risk levels effectively.