Caseys General Stores, Inc. — Earnings Quality Grade F
CASY · Consumer Cyclical
Major red flags
Screening Summary
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 4 days, change +0 days YoY
AR outpaced revenue for 2 consecutive years
Revenue 7.3%, CFFO 22.2%. Cash follows revenue
Expense Quality
Inventory 12.0% vs COGS 5.8%. Normal
CapEx growth -3.0% vs revenue 7.3%. Normal
Insufficient data
Gross margin 23.5%, change +1.0pp. Stable
Cash Flow Quality
CFFO/NI = 2.00. Profits backed by cash
FCF $0.6B, FCF/NI = 1.07
Accruals ratio = -6.6%. Low accruals
Cash $0.3B covers only 11% of debt $3.0B
Balance Sheet Health
Goodwill+Intangibles $1.2B = 35% of equity
Debt/EBITDA = 2.5x. Healthy
Other assets grew 50.6% vs revenue 7.3%
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles surged 91% YoY
Manipulation Score
Insufficient data
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-10