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Casey's (CASY) stock

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NASDAQ: CASY Nasdaq Food Retail Next results ~December 8, 2026

B Fundamentals grade

Casey's General Stores operates convenience stores across 19 states, primarily under the "Casey's" and "Casey's General Store" names, with some sites branded "GoodStop (by Casey's)" or "CEFCO". As of April 30, 2026 there were 2,944 stores, about half of them in Iowa, Missouri and Illinois, and roughly 71% in towns of fewer than 20,000 people. Stores stock over 3,000 food, beverage and non-food items, plus prepared foods such as pizza, sandwiches, bakery goods and chicken wings. All but six stores sell fuel, 241 offer car washes and 64 have electric-vehicle charging.

The company earns revenue mainly from retail fuel and the products sold inside stores, serving guests directly; it also supplies fuel wholesale to dealer sites it does not operate. It runs the Casey's Rewards loyalty programme, with over 10 million enrolled members.

Operations are carried out through subsidiaries including CMC, CSC, CRC and CGS Stores. Three distribution centres, in Ankeny (Iowa), Terre Haute (Indiana) and Joplin (Missouri), and a fuel terminal in Waco, Texas, support the network. Incorporated in Iowa in 1967, Casey's began selling pizza in 1984.

Based on Casey's's 10-K filed June 22, 2026.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$410

Cash-flow model

Base case. Range ~$300–$560 across our lower- and higher-growth cases (6.3%–16.3% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 38% below it.

Price used: $668.17, November 2, 2026

Casey's valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Casey's files

Where Casey's stands after its latest 10-Q

Revenue for the twelve months to July 2026 was $18.7bn, up 13.8% on a year earlier, faster than 10.2% a quarter earlier. Free-cash-flow margin held at 3.5%. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 3 of our 6 financial-health checks. Our cash-flow model value is $387 a share, against a share price of $688. At that price, our model says the market is pricing in about 20.8% a year of cash-flow growth for five years, faster than the 7.6% a year revenue growth it has delivered.

Source: 10-Q filed September 8, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~December 8, 2026 (estimated)

Casey's's trailing-twelve-month revenue grew 13.8% year on year, with a free-cash-flow margin of 3.5%. Where it stands out: revenue growth of 13.8% ranks 1 of 10 food retail companies we cover. Where it lags: stock pay as % of revenue of 0.3% ranks 7 of 7 food retail companies we cover.

Our discounted-cash-flow model values the business at ~$410 per share in the base case (~$300–$560 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 2.6% while net income grew 32.9%: a 35pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Growth speeding up. The growth rate is 3.6 points higher than a quarter earlier.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Priced above our value. The share price of $668.17 is 38% above our value per share of $410.
  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 0.3% ranks 7 of 7 food retail companies we cover (median 0.2%).
  • Short interest rising. Shares sold short rose 25% in a month to 5.7% of tradable shares.

Latest results: FY2027 Q1

Filed September 8, 2026
Earnings per share
$7.37 against an average estimate of $6.82: beat by 8.1%
Revenue
$5.68bn, up 24.3% on a year earlier
Share reaction
-16.8% in the first session after the results on September 8, 2026, against -1.0% for the S&P 500
Guidance given
inside same-store sales growth 2% to 5% (fiscal 2027); inside margin 42% (fiscal 2027)
Next report
December 8, 2026; average EPS estimate $5.85

Casey's' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-1.8%
  • 1 week-5.0%
  • 1 month+8.3%
  • This year+21.3%
  • 1 year+30.6%
  • 5 years+243.6%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$18.7B
Net margin
4.1%
EPS (TTM, diluted)
$20.76

Growth

Revenue growth
+13.8%
Change in growth rate
+3.6 pts
Share count change
−0.4%

Cash

Free cash flow (TTM)
$649M
FCF margin
3.5%
Stock pay % of revenue
0.3%

Earnings

Last results
September 8, 2026
Next results (est.)
December 8, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Guidance
  3. Insider trade
  4. Insider trade
  5. Insider trade

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Casey's valuation models and calculator

What the price is pricing in

The share price implies about 18.1% a year of cash-flow growth for five years.That is faster than the 7.6% a year revenue growth Casey's has delivered.

  • Priced in18.1%
  • Last 12 months13.8%
  • 3 years a year8.8%
  • 5 years a year7.6%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($664.22, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$410
Price used
$664.22close November 3, 2026
Implied change
▼ 38%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Casey's's free cash flow after stock-based pay with after-tax interest added back ($648M, FY2027 Q1 TTM), growing 12% and 7.3% in the next two years (forecasts, guidance and its record), then back to 11.3% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$300–~$560 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Casey's's free cash flow after stock-based pay ( $648M, FY2027 Q1 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Casey's as an operating company, with every model that fits that kind of business. Cost of equity 7.3%: the 10-year Treasury yield (4.9%) plus a beta of 0.53 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$410 ~$300–$560 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$290 ~$240–$420 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$420 ~$280–$650 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$380 ~$310–$490 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$380 ~$290–$420 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Casey's with Food Retail in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −27%
  • Revenue growth 5 points higher ▲ +34%
  • Free-cash-flow margin 1 point lower ▼ −28%
  • Last year's free-cash-flow margin change, if it persists ▼ −14%
  • Discount rate 1 point higher ▼ −17%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $202$292$412$570$776$1043
8.5% $142$208$294$408$554$744
10% $106$157$224$310$422$566

Valuation multiples over time Market data may be delayed

At fiscal year end 20162017201820192020202120222023202420252026Now
Share price$104.15$105.07$91.43$126.45$145.81$215.51$196.64$225.06$316.29$459.54$820.18$668.17
Market value$4.1bn$4.2bn$3.5bn$4.7bn$5.4bn$8.1bn$7.3bn$8.4bn$11.8bn$17.2bn$30.6bn$24.9bn
+ Net debt (− = net cash)$762m$846m$1.3bn$1.2bn$1.2bn$1.0bn$1.5bn$1.3bn$1.4bn$2.2bn$1.9bn$1.9bn
Enterprise value$4.9bn$5.0bn$4.7bn$5.9bn$6.6bn$9.1bn$8.9bn$9.7bn$13.2bn$19.3bn$32.5bn$26.8bn
Multiples
Price / sales 0.6x0.6x0.4x0.5x0.6x0.9x0.6x0.6x0.8x1.1x1.7x1.3x
Price / earnings 18.2x23.4x11.0x22.9x20.6x25.7x21.6x18.9x23.5x31.4x42.8x32.2x
Price / free cash flow 51.6x160.7x—34.4x83.0x22.2x15.9x20.8x31.9x29.4x42.4x38.3x
EV / EBITDA ————————————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

52 /100

Moderate moat

How hard Casey's's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 10 / 20

    Net income has been a median 6.8% of total assets over 10 years.

  • Pricing power 7 / 20

    Gross margin has been a median 19.7%, moving by 3.4 percentage points (standard deviation) across 10 years.

  • Durability 10 / 20

    Net margin has been a median 3.2%; its worst year was 2.2%.

  • Cash conversion 9 / 20

    Free cash flow was positive in 8 of 10 years, at a median 2.6% of revenue.

  • Discipline 17 / 20

    The diluted share count fell 0.4% over five years; stock-based pay has been a median 0.3% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: December 8, 2026, after the close. Analysts expect revenue of $5.5bn and EPS of $5.85 (range $5.42 to $6.36) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $21.31 +11% $20.9bn +19%
Next $23.37 +10% $21.0bn +0%

Next year's EPS estimate has moved −0.6% in 90 days, across 17 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −0.1% on 90 days ago. In the last 30 days, 12 analysts raised Casey's's forecast and 4 cut it.

Consensus EPS forecast Casey's, last 90 days
$21.00 $22.00 $23.00 $24.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $21.34 Current fiscal year, 60 days ago: $21.41 Current fiscal year, 30 days ago: $21.33 Current fiscal year, 7 days ago: $21.31 Current fiscal year, Now: $21.31 $21.31 Next fiscal year, 90 days ago: $23.52 Next fiscal year, 60 days ago: $23.58 Next fiscal year, 30 days ago: $23.41 Next fiscal year, 7 days ago: $23.37 Next fiscal year, Now: $23.37 $23.37

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $21.34$23.52
60 days ago $21.41$23.58
30 days ago $21.33$23.41
7 days ago $21.31$23.37
Now $21.31$23.37

Earnings against estimates

Quarter toEstimateActualSurprise
Jul 2026 $6.82 $7.37 +8.1%
Apr 2026 $3.31 $4.37 +32.1%
Jan 2026 $2.99 $3.49 +16.9%
Oct 2025 $5.20 $5.53 +6.3%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, September 8, 2026
  • inside margin fiscal 2027 about 42% Maintained
    “The Company expects inside same-store sales to increase 2% to 5% with an inside margin above 42%.” source
  • inside same-store sales fiscal 2027 2% growth to 5% growth Maintained
    “The Company expects inside same-store sales to increase 2% to 5% with an inside margin above 42%.” source
  • same-store fuel gallons sold fiscal 2027 -1% growth to 1% growth Maintained
    “The Company expects same-store fuel gallons sold to be negative 1% to positive 1%.” source
  • Total operating expenses fiscal 2027 5% growth to 7% growth Maintained
    “Total operating expenses are expected to increase approximately 5% to 7%.” source
  • EBITDA fiscal 2027 8% growth to 10% growth Non-GAAP Maintained
    “The Company expects EBITDA to increase 8% to 10%, which would imply 35% on a two-year stack basis at the midpoint of the range.” source
  • stores opened fiscal 2027 about 120 Maintained
    “The Company expects to open at least 120 stores in fiscal 2027 through a mix of M&A and new store construction.” source
Show 4 more items
  • Net interest expense fiscal 2027 about $95m Maintained
    “Net interest expense is expected to be approximately $95 million.” source
  • Depreciation and amortization fiscal 2027 about $490m Maintained
    “Depreciation and amortization is expected to be approximately $490 million and the purchase of property and equipment is expected to be approximately $800 million.” source
  • purchase of property and equipment fiscal 2027 about $800m Maintained
    “Depreciation and amortization is expected to be approximately $490 million and the purchase of property and equipment is expected to be approximately $800 million.” source
  • tax rate fiscal 2027 24% to 26% Maintained
    “The tax rate is expected to be approximately 24% to 26% for the year.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Casey's's revenue by +12.0% next year and +7.3% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+12.3%, weight 69%) and the company's own record (+11.3%, weight 31%) . How the weights are set.

Analyst recommendations

20 analysts, Oct 2026
Buy1680%
Hold420%
Sell00%

Monthly trend

  1. Oct 2026412420
  2. Sep 2026213520
  3. Aug 202613620
  4. Jul 202613620

Counts of recommendations published by analysts covering Casey's, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
5.7%
of tradable shares
Days to cover
3.04
at average volume
Short interest, 1 month
+25%
to October 15, 2026
Held by institutions
91%
of shares
Held by insiders
0.6%
of shares
Employees
23,490
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +30.6%

$511.48 on October 31, 2025 to $668.17

ThenNowEffect
Revenue (last 12 months) $16.4bn $18.7bn +13.8%
Net margin 3.5% 4.1% +16.8%
P/E multiple 32.9x 32.2x −2.0%
Share count 37m 37m +0.4%

Biggest factor: net margin.

Last 3 years +147.5%

$269.97 on November 3, 2023 to $668.17

ThenNowEffect
Revenue (last 12 months) $14.5bn $18.7bn +28.7%
Net margin 3.2% 4.1% +29.7%
P/E multiple 21.9x 32.2x +47.1%
Share count 38m 37m +0.8%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
CASY+11%+15%+23%+45%+40%+21%
Industry peers (median)+43%+4%+9%+8%−23%+15%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
CASY75%67%67%75%58%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
CASY−19%−16%−13%−9%−14%−36%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 36% from June 11, 2026 to September 22, 2026. Getting back needed a 57% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$511.94 – $914.72
From 52-week high
−27.0%
vs 50-day average
−0.1%
vs 200-day average
−9.8%
Volatility (1 year)
38%
Beta vs S&P 500
-0.14

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
8 up, 4 down
typical move ±8.8%
After a week
10 up, 2 down
typical move ±8.1%
After a month
10 up, 2 down
typical move ±10.6%
Results releasedNext dayS&P 500 next day5 days21 days
September 8, 2026 −16.8% −1.0% −22.3% −16.2%
June 9, 2026 +21.8% −1.9% +15.1% +9.1%
March 9, 2026 +3.8% +0.7% +1.3% +14.1%
December 9, 2025 −5.9% +0.6% −2.4% +4.8%
September 8, 2025 +7.1% +0.5% +9.7% +9.7%
June 9, 2025 +10.4% +0.7% +14.0% +17.9%
March 11, 2025 +5.3% −0.3% +1.4% +15.2%
December 9, 2024 −1.3% −0.8% +0.5% −8.6%
November 5, 2024 +7.4% +3.7% +9.4% +10.2%
September 4, 2024 +7.3% −0.4% +5.2% +3.3%
June 11, 2024 +16.1% +1.1% +14.8% +14.7%
March 11, 2024 −2.7% +1.0% +1.0% +3.4%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Casey's’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Casey's in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Casey's
$14B $16B $18B $20B FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue (TTM), FY24 Q2: $14.6B Revenue (TTM), FY24 Q3: $14.6B Revenue (TTM), FY24 Q4: $14.9B Revenue (TTM), FY25 Q1: $15.1B Revenue (TTM), FY25 Q2: $15B Revenue (TTM), FY25 Q3: $15.5B Revenue (TTM), FY25 Q4: $15.9B Revenue (TTM), FY26 Q1: $16.4B Revenue (TTM), FY26 Q2: $17B Revenue (TTM), FY26 Q3: $17B Revenue (TTM), FY26 Q4: $17.6B Revenue (TTM), FY27 Q1: $18.7B $18.7B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY24 Q2 $14.6B
FY24 Q3 $14.6B
FY24 Q4 $14.9B
FY25 Q1 $15.1B
FY25 Q2 $15B
FY25 Q3 $15.5B
FY25 Q4 $15.9B
FY26 Q1 $16.4B
FY26 Q2 $17B
FY26 Q3 $17B
FY26 Q4 $17.6B
FY27 Q1 $18.7B
Revenue growth, TTM YoY Casey's
-5% 0% 5% 10% 15% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue growth, TTM YoY, FY24 Q2: -2.3% Revenue growth, TTM YoY, FY24 Q3: -4.2% Revenue growth, TTM YoY, FY24 Q4: -1.5% Revenue growth, TTM YoY, FY25 Q1: 4.0% Revenue growth, TTM YoY, FY25 Q2: 2.6% Revenue growth, TTM YoY, FY25 Q3: 6.6% Revenue growth, TTM YoY, FY25 Q4: 7.3% Revenue growth, TTM YoY, FY26 Q1: 8.7% Revenue growth, TTM YoY, FY26 Q2: 13.3% Revenue growth, TTM YoY, FY26 Q3: 9.2% Revenue growth, TTM YoY, FY26 Q4: 10.2% Revenue growth, TTM YoY, FY27 Q1: 13.8% 13.8%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q2 -2.3%
FY24 Q3 -4.2%
FY24 Q4 -1.5%
FY25 Q1 4.0%
FY25 Q2 2.6%
FY25 Q3 6.6%
FY25 Q4 7.3%
FY26 Q1 8.7%
FY26 Q2 13.3%
FY26 Q3 9.2%
FY26 Q4 10.2%
FY27 Q1 13.8%
FCF margin (TTM) Casey's
2% 2.5% 3% 3.5% 4% 4.5% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 FCF margin (TTM), FY24 Q2: 2.8% FCF margin (TTM), FY24 Q3: 2.4% FCF margin (TTM), FY24 Q4: 2.5% FCF margin (TTM), FY25 Q1: 2.6% FCF margin (TTM), FY25 Q2: 2.7% FCF margin (TTM), FY25 Q3: 3.4% FCF margin (TTM), FY25 Q4: 3.7% FCF margin (TTM), FY26 Q1: 4.1% FCF margin (TTM), FY26 Q2: 4.0% FCF margin (TTM), FY26 Q3: 3.9% FCF margin (TTM), FY26 Q4: 4.1% FCF margin (TTM), FY27 Q1: 3.5% 3.5%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q2 2.8%
FY24 Q3 2.4%
FY24 Q4 2.5%
FY25 Q1 2.6%
FY25 Q2 2.7%
FY25 Q3 3.4%
FY25 Q4 3.7%
FY26 Q1 4.1%
FY26 Q2 4.0%
FY26 Q3 3.9%
FY26 Q4 4.1%
FY27 Q1 3.5%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 Apr 2010 2011 Apr 2011 2012 Apr 2012 2013 Apr 2013 2014 Apr 2014 2015 Apr 2015 2016 Apr 2016 2017 Apr 2017 2018 Apr 2018 2019 Apr 2019 2020 Apr 2020 2021 Apr 2021 2022 Apr 2022 2023 Apr 2023 2024 Apr 2024 2025 Apr 2025 2026 Apr 2026 LTM Jul 2026
Income
Revenue 4.6 5.6 7.0 7.3 7.8 7.8 7.1 7.5 8.4 9.4 9.2 8.7 13.0 15.1 14.9 15.9 17.6 18.7
Gross profit 0.8 0.9 1.0 1.1 1.2 1.4 1.6 1.7 1.8 2.0 2.1 — — — — — — —
Net income 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.3 0.2 0.3 0.3 0.3 0.4 0.5 0.5 0.7 0.8
Diluted EPS $2.29 $2.22 $2.99 $2.69 $3.26 $4.62 $5.73 $4.48 $8.34 $5.51 $7.10 $8.38 $9.10 $11.91 $13.43 $14.64 $19.16 $20.76
Growth (year on year)
Revenue −1.1% +21.5% +24.0% +3.8% +8.1% −0.9% −8.3% +5.4% +11.8% +11.5% −1.9% −5.1% +48.8% +16.5% −1.5% +7.3% +10.2% +13.8%
Net income — −19.1% — — — — +25.1% −21.5% +79.1% −35.9% +29.4% +18.6% +8.6% +31.5% +12.4% +8.9% +30.7% +32.9%
Diluted EPS — −3.1% — — — — +24.0% −21.8% +86.2% −33.9% +28.9% +18.0% +8.6% +30.9% +12.8% +9.0% +30.9% +33.3%
Margins
Gross margin 17.1% 15.6% 14.3% 14.8% 15.6% 18.5% 22.7% 22.4% 21.1% 20.9% 23.4% — — — — — — —
Net margin 2.5% 1.7% 1.6% 1.4% 1.6% 2.3% 3.2% 2.4% 3.8% 2.2% 2.9% 3.6% 2.6% 3.0% 3.4% 3.4% 4.1% 4.1%
Free-cash-flow margin 1.8% 0.8% 0.8% −0.3% 0.1% −0.2% 1.1% 0.3% −1.9% 1.5% 0.7% 4.2% 3.6% 2.7% 2.5% 3.7% 4.1% 3.5%
Cash flow
Cash from operations 0.2 0.3 0.3 0.3 0.3 0.3 0.5 0.5 0.4 0.5 0.5 0.8 0.8 0.9 0.9 1.1 1.4 1.4
Capital spending 0.1 0.2 0.2 0.3 0.3 0.4 0.4 0.4 0.6 0.4 0.4 0.4 0.3 0.5 0.5 0.5 0.7 0.7
Free cash flow 0.1 0.0 0.1 −0.0 0.0 −0.0 0.1 0.0 −0.2 0.1 0.1 0.4 0.5 0.4 0.4 0.6 0.7 0.6
Stock-based pay 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1
Free cash flow after stock pay 0.1 0.0 0.1 −0.0 −0.0 −0.0 0.1 0.0 −0.2 0.1 0.0 0.3 0.4 0.4 0.3 0.5 0.7 0.6
Balance sheet
Cash 0.2 0.1 0.1 0.0 0.1 0.0 0.1 0.1 0.1 0.1 0.1 0.3 0.2 0.4 0.2 0.3 0.5 0.5
Total debt 0.2 0.7 0.7 0.7 0.9 0.9 0.8 0.9 1.3 1.3 1.3 1.4 1.7 1.7 1.6 2.5 2.4 2.4
Net debt (negative = net cash) 0.0 0.6 0.6 0.6 0.7 0.8 0.8 0.8 1.3 1.2 1.2 1.0 1.5 1.3 1.4 2.2 1.9 1.9
Diluted shares 51m 43m 38m 39m 39m 39m 39m 40m 38m 37m 37m 37m 37m 38m 37m 37m 37m 37m
Returned to shareholders
Dividends 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1
Buybacks — 0.5 — — — 0.0 0.0 0.0 0.2 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.2 0.2
Total returned 0.0 0.5 0.0 0.0 0.0 0.0 0.0 0.1 0.3 0.1 0.0 0.0 0.1 0.1 0.2 0.1 0.3 0.3

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

3 of 6 checks passed · July 31, 2026
What it owns · $9.1bn
Short-term assets $1.4bnLonger-term assets $7.7bn
What it owes, and who funded it · $9.1bn
Short-term liabilities $1.4bnLonger-term liabilities $3.7bnShareholders' equity $4.1bn
  • Short-term assets cover short-term liabilities $1.4bn of assets due within a year against $1.4bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.4bn short-term assets against $3.7bn of longer-dated liabilities.
  • More cash than debt $524m of cash against $2.4bn of debt.
  • Debt below 40% of shareholders' equity Debt is 59% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 81% to 59% over five years.
  • A year's operating cash flow covers at least 20% of debt $1.4bn of operating cash flow against $2.4bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Casey's's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2027 Q1 TTM
Buybacks (TTM)
$214M
Dividends (TTM)
$85.8M
Returned to shareholders
46%
of free cash flow
Buybacks, last 3 fiscal years
$306M
Diluted share count
−0.4%
year over year
Total shareholder yield
1.2%
dividends 0.3% + buybacks 0.9% of market value
Dividend payout ratio
11%
of net income paid out

Competitors: side by side with peers

Closest by revenue in food retail
Last 12 months unless stated CASY SFM IMKTA WMK GO ACI Median
Revenue, last 12 months $18.7bn $9.1bn $5.4bn $5.1bn $4.7bn $83.2bn $5.2bn
Revenue growth, last 12 months 13.8% 5.3% 1.0% 4.7% 5.1% 2.3% 3.0%
Revenue growth, 3-year average 8.8% 10.7% −2.0% 1.8% 7.4% 1.8% 3.6%
Revenue growth, latest quarter 24.3% 4.7% 1.6% 4.6% 1.1% −0.1% 1.7%
Gross margin 23.4% 38.6% 24.5% 25.5% 30.0% 27.0% 27.6%
Operating margin — 7.3% 2.6% 2.5% −7.9% 0.5% 2.5%
Operating margin, 3-year average — 7.1% 2.6% 2.5% −1.7% 1.5% 2.5%
Net margin 4.1% 5.4% 1.9% 2.0% −8.0% −0.1% 1.9%
Cash from operations / revenue 7.4% 7.6% 4.6% 4.8% 3.9% 2.8% 4.6%
Free-cash-flow margin 3.5% 3.7% 2.8% 0.8% −0.1% 0.6% 1.6%
Free-cash-flow margin, 3-year average 3.4% 4.6% 1.5% 0.7% −0.5% 0.8% 1.5%
Stock pay / revenue 0.3% 0.3% — — 0.2% 0.1% 0.2%
Change in share count −0.4% −4.3% — −7.5% −0.1% −11.8% −4.3%

Median of all 10 companies we cover in food retail. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

10 food retail companies
Measure Company Peer median Rank
Revenue growth Growth 13.8% 3.7% 1 of 10
Change in growth rate Growth +3.6pp -0.5pp 1 of 10
Net margin Profitability 4.1% 2.0% 2 of 10
Free-cash-flow margin Cash generation 3.5% 1.7% 2 of 10
Stock pay as % of revenue Cash generation 0.3% 0.2% 7 of 7
Long-term debt as % of assets Balance sheet 25.5% 18.3% 6 of 8
Change in share count Balance sheet -0.4% -4.3% 5 of 7

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$26.2B
Institutions reporting
1,078
Shares held vs prior quarter
▲ 3.9%
Positions opened / closed
184 / 73

Top buyers and sellers, Q2 2026: 536 institutions bought and 462 sold ; the biggest buyer was Vanguard Capital Management LLC (+752K shares) and the biggest seller Blackrock, Inc (−766K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $2.8B 3.5M 10.5% ▼ 18.1%
Vanguard Capital Management LLC $1.9B 2.4M 7.3% ▲ 45.2%
Vanguard Portfolio Management LLC $1.4B 1.8M 5.5% ▼ 1.9%
State Street Corp $1.4B 1.8M 5.3% ▲ 27.6%
Geode Capital Management, LLC $859M 1.1M 3.3% ▲ 27.9%
DZ Bank AG Deutsche Zentral Genossenschafts Bank, Frankfurt Am Main $663M 834K 2.5% ▲ 86.6%
Jpmorgan Chase & Co $634M 811K 2.4% ▲ 7.9%
Franklin Resources Inc $615M 774K 2.3% ▼ 18.6%
Morgan Stanley $506M 637K 1.9% ▼ 32.0%
Goldman Sachs Group Inc $503M 633K 1.9% ▲ 31.5%
Invesco Ltd. $479M 602K 1.8% ▼ 4.6%
FMR LLC $470M 591K 1.8% ▼ 28.9%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Casey's's complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $565,402 3 trades by 2 insiders, last 12 months Insider sales History → $29.2M 28 trades by 6 insiders · 0% under pre-set plans
Net ▼ $28.7M net selling
Insider Date Trade Shares Price Value
Koschel Williams Ena Chief Operating Officer July 9, 2026 Sell 2,800 $833.69 $2.3M
Bramlage Stephen P Jr Chief Financial Officer July 8, 2026 Sell 5,700 $838.16 $4.8M
Wing Allison M. Director July 8, 2026 Sell 530 $837.58 $443,917
Rebelez Darren M President and CEO July 7, 2026 Sell 141 $815.76 $115,022
Rebelez Darren M President and CEO July 7, 2026 Sell 270 $814.97 $220,042
Rebelez Darren M President and CEO July 7, 2026 Sell 168 $811.86 $136,392
Rebelez Darren M President and CEO July 7, 2026 Sell 52 $810.30 $42,136
Rebelez Darren M President and CEO July 7, 2026 Sell 865 $808.56 $699,404
Rebelez Darren M President and CEO July 7, 2026 Sell 638 $807.53 $515,204
Rebelez Darren M President and CEO July 7, 2026 Sell 352 $806.41 $283,856
Rebelez Darren M President and CEO July 7, 2026 Sell 1,156 $805.58 $931,250
Rebelez Darren M President and CEO July 7, 2026 Sell 868 $804.47 $698,280

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 14 trades and filings

In the last 12 months, 1 member of Congress disclosed 1 purchase and 0 sales of Casey's shares.

  • Rick Larsen(D-WA 2):Purchase, $1,001 - $15,000, traded April 7, 2026, filed April 15, 2026
  • Lisa C. McClain(R-MI 9):Sale (full), $1,001 - $15,000, traded October 31, 2025, filed November 21, 2025
  • Lisa C. McClain(R-MI 9):Purchase, $1,001 - $15,000, traded October 30, 2025, filed November 21, 2025

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around December 8, 2026 estimated from the company's past filing pattern, not announced

  • September 8, 2026
  • June 9, 2026
  • March 9, 2026
  • December 9, 2025
  • September 8, 2025
  • June 9, 2025

Recent SEC filings

Data status

When each part of this page on Casey's was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Casey's in brief

What does Casey's do?
Casey's is a US-listed company in the food retail industry. Its financial year ends in April.
What is Casey's's stock ticker?
Casey's trades under the ticker CASY on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Casey's's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Casey's reported revenue of $18.7B, 13.8% higher than a year earlier, according to its SEC filings.
What is Casey's's free cash flow?
Casey's's free-cash-flow margin is 3.5% of revenue over the trailing twelve months, ranking 2 of the 10 food retail companies we cover.
What is Casey's's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Casey's's free cash flow after stock-based pay gives ~$410 per share in the base case, and ~$300–$560 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Casey's's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Capital Management LLC and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Casey's buying back stock, and does it pay a dividend?
Casey's spent $214M on share repurchases over the trailing twelve months, and its diluted share count fell 0.4% over the year.
What is Casey's's market cap?
On November 2, 2026, Casey's's market capitalisation was about $24.9B, with a price-to-earnings ratio of 32.2 and net debt of $1.9B. Market figures come from third-party market data and may be delayed.
Does Casey's pay a dividend?
Yes: Casey's paid $85.8M in dividends over the trailing twelve months, a dividend yield of 0.35% and a payout ratio of 11.1%.
How much debt does Casey's have?
Casey's's debt-to-equity ratio is 59.4%, from its latest balance sheet (80.8% five years earlier). The financial health section below sets out its other solvency checks.
Who are Casey's's competitors?
In our Food Retail peer group, the companies closest to Casey's are Sprouts Farmers Market, Inc., Ingles Markets Inc, Weis Markets Inc, Grocery Outlet Holding Corp. and Albertsons Companies, Inc. The side-by-side comparison below sets their revenue, margins and growth against Casey's's.
Are insiders buying or selling Casey's stock?
Over the last 12 months, Casey's's directors and officers reported 3 open-market purchases and 28 sales on Form 4. The insider trading page charts every trade.
When is Casey's's next earnings date?
Around December 8, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Casey's announces its own schedule.