Caseys General Stores Inc (CASY)

Debt-to-capital 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 stockholders’ equity	US$ in thousands	3,015,380	2,660,670	2,240,840	1,932,680	1,643,200
Debt-to-capital ratio		0.34	0.38	0.43	0.41	0.30

April 30, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $1,582,760K ÷ ($1,582,760K + $3,015,380K)
= 0.34

The debt-to-capital ratio of Caseys General Stores Inc has exhibited a declining trend over the past five years, reflecting the company's improved debt management and capital structure. In April 2020, the ratio was at 0.30, indicating that 30% of the company's capital was funded by debt. Subsequently, the ratio increased to 0.41 in April 2021 but then decreased to 0.43 in April 2022 before further decreasing to 0.38 in April 2023 and 0.34 in April 2024.

This downward trajectory suggests that Caseys General Stores Inc has been successful in reducing its reliance on debt financing and enhancing its equity contributions towards its capital base. A lower debt-to-capital ratio generally indicates a healthier financial position and reduced financial risk for the company. By effectively managing its debt levels compared to its total capital, Caseys General Stores Inc may have more flexibility in supporting its operations, investing in growth opportunities, and weathering economic uncertainties.