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Side-by-side financial comparison of CASEYS GENERAL STORES INC (CASY) and Murphy USA Inc. (MUSA). Click either name above to swap in a different company.
Murphy USA Inc. is the larger business by last-quarter revenue ($4.7B vs $4.5B, roughly 1.1× CASEYS GENERAL STORES INC). CASEYS GENERAL STORES INC runs the higher net margin — 4.6% vs 3.0%, a 1.6% gap on every dollar of revenue. On growth, CASEYS GENERAL STORES INC posted the faster year-over-year revenue change (14.2% vs 0.7%). CASEYS GENERAL STORES INC produced more free cash flow last quarter ($176.0M vs $128.8M). Over the past eight quarters, CASEYS GENERAL STORES INC's revenue compounded faster (16.3% CAGR vs -1.0%).
Casey's Retail Company is a chain of convenience stores in the Midwestern and Southern United States. The company is headquartered in Ankeny, Iowa, a suburb of Des Moines. As of October 1, 2023, Casey's had 2,500 stores in 16 states. Following 7-Eleven's purchase of Speedway, Casey's is the third-largest convenience store chain in the United States and the largest that is wholly American-owned. It is one of two Iowa-based Fortune 500 companies. Casey's is famous for their pizza, including a b...
Murphy USA is an American corporation based in El Dorado, Arkansas that operates a chain of retail gas stations that are primarily located in proximity to Walmart stores. It was founded as a spin-off of Murphy Oil in 2013.
CASY vs MUSA — Head-to-Head
Income Statement — Q2 2026 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $4.5B | $4.7B |
| Net Profit | $206.3M | $141.9M |
| Gross Margin | — | — |
| Operating Margin | 6.1% | 4.4% |
| Net Margin | 4.6% | 3.0% |
| Revenue YoY | 14.2% | 0.7% |
| Net Profit YoY | 14.0% | -0.4% |
| EPS (diluted) | $5.53 | $7.35 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $4.5B | $4.7B | ||
| Q3 25 | $4.6B | $5.1B | ||
| Q2 25 | $4.0B | $5.0B | ||
| Q1 25 | $3.9B | $4.5B | ||
| Q4 24 | $3.9B | $4.7B | ||
| Q3 24 | $4.1B | $5.2B | ||
| Q2 24 | $3.6B | $5.5B | ||
| Q1 24 | $3.3B | $4.8B |
| Q4 25 | $206.3M | $141.9M | ||
| Q3 25 | $215.4M | $129.9M | ||
| Q2 25 | $98.3M | $145.6M | ||
| Q1 25 | $87.1M | $53.2M | ||
| Q4 24 | $180.9M | $142.5M | ||
| Q3 24 | $180.2M | $149.2M | ||
| Q2 24 | $87.0M | $144.8M | ||
| Q1 24 | $86.9M | $66.0M |
| Q4 25 | 6.1% | 4.4% | ||
| Q3 25 | 6.1% | 3.9% | ||
| Q2 25 | — | 4.4% | ||
| Q1 25 | 2.8% | 1.9% | ||
| Q4 24 | 6.1% | 4.2% | ||
| Q3 24 | 5.8% | 4.2% | ||
| Q2 24 | — | 4.0% | ||
| Q1 24 | 3.4% | 2.2% |
| Q4 25 | 4.6% | 3.0% | ||
| Q3 25 | 4.7% | 2.5% | ||
| Q2 25 | 2.5% | 2.9% | ||
| Q1 25 | 2.2% | 1.2% | ||
| Q4 24 | 4.6% | 3.0% | ||
| Q3 24 | 4.4% | 2.8% | ||
| Q2 24 | 2.4% | 2.7% | ||
| Q1 24 | 2.6% | 1.4% |
| Q4 25 | $5.53 | $7.35 | ||
| Q3 25 | $5.77 | $6.76 | ||
| Q2 25 | $2.63 | $7.36 | ||
| Q1 25 | $2.33 | $2.63 | ||
| Q4 24 | $4.85 | $6.87 | ||
| Q3 24 | $4.83 | $7.20 | ||
| Q2 24 | $2.34 | $6.92 | ||
| Q1 24 | $2.33 | $3.12 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $492.0M | $28.9M |
| Total DebtLower is stronger | — | $2.2B |
| Stockholders' EquityBook value | $3.8B | $623.5M |
| Total Assets | $8.6B | $4.7B |
| Debt / EquityLower = less leverage | — | 3.47× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $492.0M | $28.9M | ||
| Q3 25 | $458.1M | $42.8M | ||
| Q2 25 | $326.7M | $54.1M | ||
| Q1 25 | $394.8M | $49.4M | ||
| Q4 24 | $351.7M | $47.0M | ||
| Q3 24 | $305.0M | $52.5M | ||
| Q2 24 | $206.5M | $79.8M | ||
| Q1 24 | $177.9M | $56.7M |
| Q4 25 | — | $2.2B | ||
| Q3 25 | — | $2.2B | ||
| Q2 25 | $2.4B | $2.1B | ||
| Q1 25 | — | $2.0B | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | — | $1.8B | ||
| Q2 24 | $1.6B | $1.8B | ||
| Q1 24 | — | $1.8B |
| Q4 25 | $3.8B | $623.5M | ||
| Q3 25 | $3.6B | $546.0M | ||
| Q2 25 | $3.5B | $646.1M | ||
| Q1 25 | $3.4B | $719.6M | ||
| Q4 24 | $3.3B | $840.1M | ||
| Q3 24 | $3.2B | $830.1M | ||
| Q2 24 | $3.0B | $811.3M | ||
| Q1 24 | $2.9B | $781.6M |
| Q4 25 | $8.6B | $4.7B | ||
| Q3 25 | $8.4B | $4.7B | ||
| Q2 25 | $8.2B | $4.6B | ||
| Q1 25 | $8.2B | $4.5B | ||
| Q4 24 | $7.7B | $4.5B | ||
| Q3 24 | $6.5B | $4.4B | ||
| Q2 24 | $6.3B | $4.4B | ||
| Q1 24 | $6.2B | $4.3B |
| Q4 25 | — | 3.47× | ||
| Q3 25 | — | 4.07× | ||
| Q2 25 | 0.69× | 3.20× | ||
| Q1 25 | — | 2.74× | ||
| Q4 24 | — | 2.18× | ||
| Q3 24 | — | 2.19× | ||
| Q2 24 | 0.52× | 2.20× | ||
| Q1 24 | — | 2.28× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $347.1M | $245.5M |
| Free Cash FlowOCF − Capex | $176.0M | $128.8M |
| FCF MarginFCF / Revenue | 3.9% | 2.7% |
| Capex IntensityCapex / Revenue | 3.8% | 2.5% |
| Cash ConversionOCF / Net Profit | 1.68× | 1.73× |
| TTM Free Cash FlowTrailing 4 quarters | $682.2M | $374.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $347.1M | $245.5M | ||
| Q3 25 | $372.4M | $184.8M | ||
| Q2 25 | $333.9M | $255.1M | ||
| Q1 25 | $204.9M | $128.5M | ||
| Q4 24 | $270.7M | $248.7M | ||
| Q3 24 | $281.4M | $202.1M | ||
| Q2 24 | $288.4M | $260.8M | ||
| Q1 24 | $122.8M | $136.0M |
| Q4 25 | $176.0M | $128.8M | ||
| Q3 25 | $262.4M | $67.7M | ||
| Q2 25 | $153.1M | $137.1M | ||
| Q1 25 | $90.7M | $40.7M | ||
| Q4 24 | $160.0M | $121.7M | ||
| Q3 24 | $180.8M | $65.2M | ||
| Q2 24 | $92.1M | $142.8M | ||
| Q1 24 | $-27.0M | $59.8M |
| Q4 25 | 3.9% | 2.7% | ||
| Q3 25 | 5.7% | 1.3% | ||
| Q2 25 | 3.8% | 2.7% | ||
| Q1 25 | 2.3% | 0.9% | ||
| Q4 24 | 4.1% | 2.6% | ||
| Q3 24 | 4.4% | 1.2% | ||
| Q2 24 | 2.6% | 2.6% | ||
| Q1 24 | -0.8% | 1.2% |
| Q4 25 | 3.8% | 2.5% | ||
| Q3 25 | 2.4% | 2.3% | ||
| Q2 25 | 4.5% | 2.4% | ||
| Q1 25 | 2.9% | 1.9% | ||
| Q4 24 | 2.8% | 2.7% | ||
| Q3 24 | 2.5% | 2.6% | ||
| Q2 24 | 5.5% | 2.2% | ||
| Q1 24 | 4.5% | 1.6% |
| Q4 25 | 1.68× | 1.73× | ||
| Q3 25 | 1.73× | 1.42× | ||
| Q2 25 | 3.40× | 1.75× | ||
| Q1 25 | 2.35× | 2.42× | ||
| Q4 24 | 1.50× | 1.75× | ||
| Q3 24 | 1.56× | 1.35× | ||
| Q2 24 | 3.31× | 1.80× | ||
| Q1 24 | 1.41× | 2.06× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CASY
Segment breakdown not available.
MUSA
| Product Sales Petroleum Retail | $3.3B | 69% |
| Merchandise | $1.1B | 23% |
| Product Sales Petroleum Wholesale | $327.9M | 7% |
| Other | $57.0M | 1% |
| Renewable Identification Numbers | $55.3M | 1% |
| Revenue Other | $1.3M | 0% |
