Caseys General Stores Inc (CASY)

Debt-to-equity 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-equity ratio 0.52 0.61 0.74 0.70 0.43

April 30, 2024 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $1,582,760K ÷ $3,015,380K
= 0.52

Caseys General Stores Inc's debt-to-equity ratio has fluctuated over the past five years. The ratio stood at 0.52 as of April 30, 2024, indicating that the company's debt level is 52% of its equity. Comparing this to the previous year, there has been a decrease from 0.61 to 0.52, suggesting that the company has reduced its dependence on debt to finance its operations.

Looking further back, the trend shows variations in the debt-to-equity ratio. In April 2023, the ratio was 0.61, which then increased to 0.74 in April 2022, before decreasing slightly to 0.70 in April 2021. Notably, there was a significant drop to 0.43 in April 2020, indicating a period of lower debt relative to equity.

Overall, the downward trend in the debt-to-equity ratio from 2022 onwards may suggest that Caseys General Stores Inc has been managing its debt effectively or improving its equity base. However, it is important to consider the industry average and other financial metrics to gain a comprehensive understanding of the company's financial leverage and risk profile.