Caseys General Stores Inc (CASY)

Debt-to-equity 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 stockholders’ equity	US$ in thousands	3,015,380	2,947,460	2,897,390	2,776,300	2,660,670	2,606,780	2,512,820	2,380,050	2,240,840	2,185,610	2,123,130	2,030,660	1,932,680	1,893,590	1,859,850	1,751,240	1,643,200	1,588,590	1,561,850	1,489,210
Debt-to-equity ratio		0.52	0.54	0.55	0.58	0.61	0.63	0.65	0.69	0.74	0.81	0.79	0.83	0.70	0.72	0.73	0.73	0.43	0.45	0.46	0.88

April 30, 2024 calculation

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

The debt-to-equity ratio of Caseys General Stores Inc has shown a fluctuating trend over the past few years. The ratio has ranged from 0.43 to 0.88 as per the data provided. Generally, a decreasing trend in the debt-to-equity ratio can indicate a lower reliance on debt financing relative to equity, which can be seen in the decline from 0.88 to 0.52 over the period.

However, the ratio has also shown some variability within the range, with occasional increases such as from 0.61 to 0.65 and 0.74 to 0.81, followed by decreases again. This suggests that the company's capital structure may have experienced some fluctuations and adjustments over time.

Overall, a debt-to-equity ratio of around 0.52 to 0.74 indicates that Caseys General Stores Inc has been maintaining a balance between debt and equity in its capital structure, with a moderate level of leverage in financing its operations and growth. It is essential for investors and stakeholders to continue monitoring the trend of this ratio to assess the company's financial health and risk profile.