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Caseys General Stores earnings quality score

How much of the reported profit is backed by cash, and how many markers of managed earnings the filings show

Score82 / 100 · grade A · rank 38 of 1027

Caseys General Stores (CASY) scores 82 of 100 for earnings quality, grade A: rank 38 of 1027 companies and 5 of 141 in consumer-disc. It loses the most points on accruals of -7.7% of assets, lower than 76% of companies (profit backed by cash), Montier C-score 1 of 4 checks failed, profit steadier than cash flow (smoothness 0.49). It earns full or near-full marks for discretionary accruals of -0.1% of assets (modified Jones), smaller than most, adjusted and GAAP earnings agree.

What earned and lost points

ComponentWhat the filings showPointsOf
Accrualsaccruals of -7.7% of assets, lower than 76% of companies (profit backed by cash)2533
Montier C-scoreMontier C-score 1 of 4 checks failed1925
Discretionary accrualsdiscretionary accruals of -0.1% of assets (modified Jones), smaller than most1617
Non-GAAP gapadjusted and GAAP earnings agree1717
Earnings smoothnessprofit steadier than cash flow (smoothness 0.49)58
CASY: share of the available points, by componentCASY: share of the available points, by componentAccruals76%Discretionary accruals98%Montier C-score75%Non-GAAP gap99%Earnings smoothness58%

How the score is built

Eight published measures, each scored against the whole universe or on its own scale and weighted: accruals 20, discretionary accruals 10, Beneish M 15, Dechow F 15, Montier C 15, Piotroski F 10, the non-GAAP gap 10, smoothness 5. A measure that cannot be computed (Beneish for a bank, say) drops out and the rest is rescaled, so every company is scored on what applies to it.

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Computed from the companies’ own XBRL filings (latest fiscal year) by published formulas; a statistical screen, not an audit or an accusation. A low score means the reported profit shows more of the markers of managed or low-quality earnings than its peers. Not investment advice.