Caseys General Stores, Inc. (CASY)
合理估值基本面
70
价格
$608.46
市值
$22.13B
第一部分 · 这家公司值多少
概览
Casey's runs convenience stores across small towns in the American Midwest and South, selling fuel alongside made-in-store food like pizza and breakfast sandwiches and everyday grocery items. It has grown mainly by opening and acquiring stores in rural communities that larger chains often skip, and by building a prepared-food business that draws customers in for more than just a fill-up, which most gas stations do not attempt at the same scale.
盈利方式
Fuel brings in the most revenue but earns a thin margin that swings with wholesale prices, so it mainly draws customers into the store. Prepared food, dispensed beverages and grocery items carry much higher margins and are what actually drives profitability, which is why Casey's keeps expanding its in-store food menu and pushing same-store sales in those categories rather than competing purely on prices at the fuel island alone every quarter.
分部营收
Gasoline and diesel sold at the pump, the largest revenue category but the thinnest margin.
Packaged food, beverages, tobacco, alcohol and everyday household items sold on the shelves inside the store.
In-store pizza, sandwiches, bakery items and fountain drinks, the smallest category but the highest margin.
Wholesale fuel distribution and other ancillary revenue, boosted by the recent acquisition of a wholesale fuel network.
护城河
规模效应 · 狭窄Casey's density of stores across small Midwestern towns, many with little direct competition, gives it purchasing power on fuel and food supplies and lets it defend local markets that are too small to attract a second national chain. That advantage is regional rather than universal: in larger towns and cities it competes with bigger convenience and grocery chains on more even terms.
需求驱动因素
防御型Fuel and everyday food purchases are necessities that hold up reasonably well through economic downturns, since people still need to drive and eat regardless of the broader economy. The main swing factor is not the economic cycle but fuel margins, which move with wholesale gasoline prices and competitive pricing in each local market rather than with consumer demand itself.
主要风险
- Fuel margin volatility — Retail fuel margins can swing with oversupply, volatile wholesale prices and price competition from other fuel marketers, and since fuel is the largest revenue category, this volatility affects overall results.
- Rural labor availability — Finding and keeping store staff is tighter in small towns than in cities, and persistent wage pressure in a labor-constrained footprint is a long-term cost risk.
- Commodity cost inflation — Higher costs for cheese, proteins and other prepared-food ingredients can squeeze margins in the highest-profit category if Casey's cannot pass the increases on to customers.
- Local competition — Casey's must keep adapting its prices, service and store experience to competitors in each market, and failing to do so could pressure both fuel and merchandise sales.
看多理由
Buyers argue that Casey's rural store density is hard for larger chains to replicate profitably, that its prepared-food business keeps growing same-store sales faster than fuel volumes alone would, and that disciplined acquisitions like the recent Fikes deal add scale without diluting the local-market advantage.
看空理由
Sellers worry that fuel still drives most of the top line and its margin is largely outside Casey's control, that rural wage inflation could erode the cost advantage that supports its small-town strategy, and that continued expansion through acquisitions raises integration risk with each new deal.
Written by the editors, published on 2026年8月18日
Direct competitors
Who this company fights with for the same customers
Generated on 2026年9月18日 with claude-haiku-4-5 — shared with all users
Named by Casey's in its own 10-K, this family-owned Wisconsin chain competes store-for-store across the upper Midwest on the same combination of fuel, groceries and made-on-site prepared food.
Also named in Casey's 10-K, QuikTrip is a private chain that competes directly in the larger towns Casey's serves, on fuel price and on a food-service offer aimed at the same daily customer.
Through the Circle K banner it runs one of the largest US convenience-store networks and competes with Casey's for the same fuel and in-store purchase in the Midwest.
A US fuel-led convenience retailer whose low-price gasoline sites, often beside Walmart stores, pull the same price-sensitive motorist Casey's relies on for fuel gallons.
Owner of 7-Eleven, the largest convenience-store network in the United States, competing with Casey's on packaged goods, beverages, fuel and increasingly on hot prepared food.
After buying Kum & Go — a chain Casey's names in its 10-K — this private operator holds a large store base in Iowa and the surrounding states, Casey's core territory.
资产负债表与流动性
营收
$18.67B
最近12个月（截至2026/7/31）
净利润
$773M
最近12个月（截至2026/7/31）
自由现金流
$722M
股东权益合计
$3.95B
负债合计
$4.98B
流动比率
1.02
利息覆盖率
-
债务/EBITDA
1.92
每股收益
营收与净利润
自由现金流
收入构成
历史财务表
利润率变化
债务变化
债务负担有多重
增长一览表
增长 — 营业收入
公允价值估算
公允价值
$710.90
当前价格
$608.46
安全边际
+14.4%
公允价值区间
$534.58 - $887.22
所用估值方法之间的离散区间，并非经过统计校准的置信区间。
估算方法
估值指标
市盈率（P/E）
29.31
ROE
18.1%
市净率（P/B）
5.49
P/FCF
34.66
毛利率
-
ROIC
-
盈利能力雷达图
价值创造（经济护城河）
ROIC
-
WACC
7.3%
ROIC − WACC
-
基本面分析标准
通过（17）
- EPS shows upward trend
- EPS CAGR 15.39%
- Price CAGR 17.52%
- Debt/Equity ratio
- Positive Free Cash Flow
- Current Ratio
- Debt/EBITDA
- Return on Tangible Assets
- ROE 19.7%
- Revenue Growth 5Y 15.1%
- Analyst Consensus 70% Buy
- Earnings Surprise avg 14.1%
- PEG Ratio 1.60
- Earnings Quality (OCF/NI) 1.80
- Share Dilution -0.1%
- Net Margin Trend 4.1% vs 3.5%
- Piotroski F-Score 8/9
未通过（6）
- P/FCF 34.66
- P/B Ratio 5.49
- CapEx intensity
- Low reliance on intangibles
- Price below Graham Number
- DCF valuation (Overvalued)
不可用（5）
- ROIC NaN%
- Gross Margin NaN%
- Dividend Payout NaN%
- Operating Margin NaN%
- Interest Coverage
Piotroski F-评分
财务状况强健
盈利质量
高质量：盈利有现金流支撑
股权稀释
正在回购股份，对股东友好
机构持股
公司治理
管理团队
| 姓名 | 职位 | 年龄 |
|---|---|---|
| Mr. Darren M. Rebelez | President, CEO & Board Chair | 59 |
| Mr. Stephen P. Bramlage Jr. | Senior VP & CFO | 55 |
| Ms. Ena Williams Koschel | Chief Operating Officer | 56 |
| Mr. Chad Michael Frazell | Chief Human Resources Officer | 52 |
| Mr. Thomas P. Brennan Jr. | Senior VP & Chief Merchandising Officer | 50 |
| Mr. Kory Ross | Vice President of Accounting | - |
| Mr. Nathaniel Doddridge | Senior Vice President of Fuel | - |
| Mr. Joe Cruz | Chief Pizza & Beer Officer | - |
| Mr. Tim Ahrendsen | Senior VP of Operations Excellence | - |
| Mr. Scott Faber | VP, Deputy General Counsel & Corporate Secretary | - |
审计风险
7
董事会风险
5
薪酬风险
3
股东权利风险
7
第二部分 · 价格与买入时机
这一部分不判断公司是否值得拥有：它帮助你在基本面说服你之后，选择何时买入。包含：技术分析、潜力、历史回撤、Gamma 敞口。
损益历史
via SEC EDGAR
Latest News
Recent headlines for CASY, sourced from Markets Gazette.
- 8/14/2026POSITIVEHunt for AI-proof trades turns convenience shops into hot stocks
Casey's General Stores has seen its stock surge over 54% year-to-date, reflecting a strong investor appetite for businesses resilient to economic downturns and technological disruption, particularly in the AI era. The company's focus on essential consumer needs like fuel, food, and everyday staples provides a defensive moat. This performance highlights a strategic shift by investors towards companies with predictable, non-discretionary revenue streams, potentially signaling a broader trend in market allocation towards 'AI-proof' sectors.
- 6/18/2026NEUTRALHere's How Much You Would Have Made Owning Casey's General Stores Stock In The Last 10 Years
An analysis of Casey's General Stores Inc. stock performance over the past decade reveals its trajectory for investors. While specific return figures are not detailed in this summary, the article prompts a review of its historical performance, suggesting potential for wealth creation or loss depending on the investment period. Investors considering Casey's should examine its long-term growth, market position, and strategic initiatives to understand its past returns and future potential.
- 6/10/2026NEUTRALCasey's General Stores Q4 2026 Earnings Call Transcript
Casey's General Stores Inc. released its Q4 2026 Earnings Call Transcript on June 10, 2026. The transcript provides detailed insights into the company's financial performance, strategic initiatives, and outlook for the upcoming fiscal year. Investors can analyze management's commentary on sales trends, operational efficiencies, and market conditions. While the transcript itself is informational, its true value lies in the forward-looking statements and guidance that may influence future stock performance. A thorough review is recommended for shareholders and potential investors to gauge the company's trajectory.
- 6/10/2026POSITIVECaseys General Stores Upbeat Q4 Earnings, Joins Applied Optoelectronics, Clover Health Investments And Other Big Stocks Moving Higher On Wednesday
Casey's General Stores Inc. (CASY) experienced a significant surge of 14.4% in its share price following the release of its Q4 earnings report, which surpassed analyst expectations. This positive performance places Casey's among other notable stocks like Applied Optoelectronics and Clover Health Investments that also saw upward movement. Despite a broader market downturn with the Dow Jones falling 150 points, Casey's strong earnings indicate robust operational performance and potential for continued growth, making it an attractive prospect for investors seeking individual stock opportunities amidst market volatility.
- 5/20/2026POSITIVEHere's How Much $100 Invested In Casey's General Stores 15 Years Ago Would Be Worth Today
An investment of $100 in Casey's General Stores 15 years ago would have grown to approximately $1,080 today, representing a significant return on investment. This performance highlights the company's sustained growth and operational efficiency over the past decade and a half. Investors who held Casey's stock have benefited from its expansion in convenience store offerings and fuel sales, demonstrating a strong track record of value creation. The substantial appreciation suggests robust business fundamentals and effective management strategies that have consistently outperformed market averages.
- 3/10/2026POSITIVECasey's General Stores Q3 Results Show 'Momentum Across The Board': Analyst
Casey's General Stores Inc. (CASY) has reported robust third-quarter financial results, accompanied by an upward revision of its EBITDA growth forecast. This positive performance has led Stephens to initiate coverage with an 'Overweight' rating. The company's ability to exceed expectations and enhance its future outlook suggests strong operational execution and favorable market conditions. Investors should note that this analyst upgrade, coupled with the raised EBITDA guidance, signals potential for sustained share price appreciation.
- 3/4/2026POSITIVE$1000 Invested In Casey's General Stores 5 Years Ago Would Be Worth This Much Today
An investment of $1000 in Casey's General Stores Inc. five years ago would be worth approximately $3000 today, a 200% return significantly outperforming the stock market during the same period. This performance highlights the company's robust growth and ability to generate shareholder value, driven by effective strategies in the convenience store and prepared food sectors. For investors, the stock demonstrates significant appreciation potential, supported by a resilient business model and consistent expansion.
via Markets Gazette