Casey's vs Grocery Outlet
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The short version
- Casey's is the larger business, with $17.6B of revenue in fiscal 2026 against $4.7B for Grocery Outlet, about 3.7 times as much.
- Casey's grew revenue faster (10.2%, against 7.3%).
- Casey's turned more of its sales into free cash flow (4.1% FCF margin, against 0.5%).
- Casey's earned a higher return on the capital invested in it (13.6%, against −11.6%).
| Latest fiscal year | CASY · FY26 | GO · FY25 |
|---|---|---|
| Size | ||
| Market cap | $25.9B | $1.3B |
| Revenue | $17.6B | $4.7B |
| Free cash flow | $722M | $23.8M |
| Net income | $714M | −$225M |
| Growth | ||
| Revenue growth | 10.2% | 7.3% |
| 5-year growth | 15.1% | 8.4% |
| Share count change | −0.2% | −1.6% |
| Profitability | ||
| Gross margin | — | 30.3% |
| Operating margin | — | −4.7% |
| Net margin | 4.1% | −4.8% |
| FCF margin | 4.1% | 0.5% |
| Return on capital | 13.6% | −11.6% |
| Return on equity | 19.2% | −20.6% |
| Balance sheet | ||
| Net debt | $1.9B | $426M |
| Net debt / EBITDA | 1.3x | — |
| Dividends and buybacks | $284M | $0.0M |
| Valuation & quality | ||
| P/E | 33.7x | — |
| Piotroski F-score | 7 | 5 |
Revenue
FY17
CASY $7.5B
GO $2.1B
FY18
CASY $8.4B
GO $2.3B
FY19
CASY $9.4B
GO $2.6B
FY20
CASY $9.2B
GO $3.1B
FY21
CASY $8.7B
GO $3.1B
FY22
CASY $13.0B
GO $3.6B
FY23
CASY $15.1B
GO $4.0B
FY24
CASY $14.9B
GO $4.4B
FY25
CASY $15.9B
GO $4.7B
FY26
CASY $17.6B
GO —
CASY
GO
Operating margin
FY17
CASY —
GO 3.7%
FY18
CASY —
GO 3.6%
FY19
CASY —
GO 2.7%
FY20
CASY —
GO 3.4%
FY21
CASY —
GO 2.9%
FY22
CASY —
GO 2.7%
FY23
CASY —
GO 3.2%
FY24
CASY —
GO 1.8%
FY25
CASY —
GO −4.7%
FY26
CASY —
GO —
CASY
GO
Free cash flow
FY17
CASY $25.9M
GO $13.6M
FY18
CASY −$158M
GO $41.1M
FY19
CASY $136M
GO $35.6M
FY20
CASY $65.3M
GO $56.3M
FY21
CASY $363M
GO $42.2M
FY22
CASY $462M
GO $55.0M
FY23
CASY $405M
GO $134M
FY24
CASY $371M
GO −$74.7M
FY25
CASY $585M
GO $23.8M
FY26
CASY $722M
GO —
CASY
GO
Return on capital
FY17
CASY 10.6%
GO —
FY18
CASY 11.6%
GO —
FY19
CASY 9.6%
GO 5.4%
FY20
CASY 11.1%
GO 8.7%
FY21
CASY 12.0%
GO 5.5%
FY22
CASY 11.4%
GO 6.0%
FY23
CASY 12.6%
GO 6.9%
FY24
CASY 12.9%
GO 3.7%
FY25
CASY 12.1%
GO −11.6%
FY26
CASY 13.6%
GO —
CASY
GO
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.