CASY (Casey's General Stores) Operating Income: $1,034 Mil (TTM As of Apr. 2026)


CASY Casey's General Stores Inc CASY
84 GF Score
Price $797.12
GF Value $482.33
Valuation Significantly Overvalued
! 1 Warning Sign
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What is Casey's General Stores Operating Income?

Casey's General Stores CASY +1.71% 84 Operating Income is $1,034 Mil as of Apr. 2026. GuruFocus rates CASY with a GF Score™ of 84/100 and a GF Value™ of $482.33 (Significantly Overvalued). The stock has 1 warning sign investors should review.

Casey's General Stores's Operating Income for the three months ended in Apr. 2026 was $235 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Apr. 2026 was $1,034 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Casey's General Stores's Operating Income for the three months ended in Apr. 2026 was $235 Mil. Casey's General Stores's Revenue for the three months ended in Apr. 2026 was $4,572 Mil. Therefore, Casey's General Stores's Operating Margin % for the quarter that ended in Apr. 2026 was 5.14%.

Good Sign:

Casey's General Stores Inc operating margin is expanding. Margin expansion is usually a good sign.

Casey's General Stores's 5-Year average Growth Rate for Operating Margin % was 4.50% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Casey's General Stores's annualized ROC % for the quarter that ended in Apr. 2026 was 9.42%. Casey's General Stores's annualized ROC (Joel Greenblatt) % for the quarter that ended in Apr. 2026 was 15.36%.


Casey's General Stores  (NAS:CASY) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Casey's General Stores's annualized ROC % for the quarter that ended in Apr. 2026 is calculated as:

ROC % (Q: Apr. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Jan. 2026 ) + Invested Capital (Q: Apr. 2026 ))/ count )
=939.356 * ( 1 - 23.67% )/( (7539.202 + 7687.597)/ 2 )
=717.0104348/7613.3995
=9.42 %

where

Invested Capital(Q: Jan. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=8585.75 - 1000.24 - ( 465.019 - max(0, 1101.695 - 1148.003+465.019))
=7539.202

Invested Capital(Q: Apr. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=8936.055 - 1235.052 - ( 522.991 - max(0, 1350.606 - 1364.012+522.991))
=7687.597

Note: The Operating Income data used here is four times the quarterly (Apr. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Casey's General Stores's annualized ROC (Joel Greenblatt) % for the quarter that ended in Apr. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Apr. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Jan. 2026  Q: Apr. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=939.356/( ( (6049.566 + max(-336.361, 0)) + (6182.108 + max(-404.616, 0)) )/ 2 )
=939.356/( ( 6049.566 + 6182.108 )/ 2 )
=939.356/6115.837
=15.36 %

where Working Capital is:

Working Capital(Q: Jan. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(186.756 + 440.832 + 36.291) - (1000.24 + 0 + 0)
=-336.361

Working Capital(Q: Apr. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(243.502 + 557.151 + 29.783) - (1235.052 + 0 + 0)
=-404.616

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Apr. 2026) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Casey's General Stores's Operating Margin % for the quarter that ended in Apr. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Apr. 2026 )/Revenue (Q: Apr. 2026 )
=234.839/4571.779
=5.14 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.


Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


Casey's General Stores Operating Income Related Terms


Casey's General Stores Operating Income Historical Data

* Premium members only.

The historical data trend for Casey's General Stores's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Casey's General Stores Operating Income Chart

Casey's General Stores Annual Data
Trend Apr17 Apr18 Apr19 Apr20 Apr21 Apr22 Apr23 Apr24 Apr25 Apr26
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 497.70 639.33 709.60 796.40 1,033.66

Casey's General Stores Quarterly Data
Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24 Oct24 Jan25 Apr25 Jul25 Oct25 Jan26 Apr26
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 155.57 305.31 298.68 194.83 234.84
CASY
84GF Score
Casey's General Stores Inc CASY
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Casey's General Stores Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Apr. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $1,034 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Operating Income →
What does a Operating Income of $1,034 Mil mean?
Casey's General Stores (CASY) has a Operating Income of $1,034 Mil as of Apr. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Casey's General Stores and its competitors.
Is Casey's General Stores' Operating Income too high?
Casey's General Stores' current Operating Income is $1,034 Mil. Overall, Casey's General Stores has a GF Score™ of 84/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Casey's General Stores' Operating Income compare to WSM and DKS?
Casey's General Stores' Operating Income of $1,034 Mil can be compared against companies in the Retail - Cyclical industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for a Retail - Cyclical company?
A good Operating Income depends on the Retail - Cyclical industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Casey's General Stores and its competitors. Casey's General Stores's current Operating Income is $1,034 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Casey's General Stores stock overvalued right now?
Based on GuruFocus' analysis, Casey's General Stores (CASY) is currently considered Significantly Overvalued. The stock's GF Value™ is $482.33, compared to a current price of $797.12 — trading 65.3% above its estimated fair value. The current Operating Income is $1,034 Mil. Casey's General Stores' overall GF Score™ is 84/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For Casey's General Stores (CASY), the current Operating Income is $1,034 Mil as of Apr. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Casey's General Stores (CASY) Overvalued in 2026?

Based on GuruFocus' analysis, Casey's General Stores stock appears to be overvalued. The current stock price of $797.12 is trading 65.3% above its estimated GF Value™ of $482.33. GuruFocus considers Casey's General Stores to be Significantly Overvalued.

Key valuation signals for CASY:

  • Operating Income: $1,034 Mil
  • GF Value™: $482.33 vs. price of $797.12 (65.3% above fair value)
  • GF Score™: 84/100 with 1 warning sign

No single metric tells the full story. See the CASY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Casey's General Stores Business Description

Other Exchanges CASY:MexicoCS2:Germany
Address One Se Convenience Boulevard, Ankeny, IA, USA, 50021
Casey's General Stores Inc serves as convenience store chain with its 2,900 locations, positioned in the Midwest United States. About half of Casey's stores are located in rural towns with populations under 5,000. While fueling stations serve as a key traffic driver, about two-thirds of the company's gross profit stems from in-store sales of grocery items, prepared meals, and general merchandise. Casey's owns more than 90% of its stores and operates the majority of its warehousing and distribution processes internally.
84GF Score

Get the complete analysis for CASY

Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$797.12
Price
$482.33
GF Value