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Side-by-side financial comparison of CASEYS GENERAL STORES INC (CASY) and SHOPIFY INC. (SHOP). Click either name above to swap in a different company.
CASEYS GENERAL STORES INC is the larger business by last-quarter revenue ($4.5B vs $3.7B, roughly 1.2× SHOPIFY INC.). SHOPIFY INC. runs the higher net margin — 20.2% vs 4.6%, a 15.7% gap on every dollar of revenue. On growth, SHOPIFY INC. posted the faster year-over-year revenue change (30.6% vs 14.2%). SHOPIFY INC. produced more free cash flow last quarter ($715.0M vs $176.0M). Over the past eight quarters, SHOPIFY INC.'s revenue compounded faster (40.5% CAGR vs 16.3%).
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...
Shopify Inc., stylized as shopify, is a Canadian multinational e-commerce company headquartered in Ottawa, Ontario that operates a platform for retail point-of-sale systems. The company has over 5 million customers and processed US$292.3 billion in transactions in 2024, of which 57% was in the United States. Major customers include Tesla, LVMH, Nestlé, PepsiCo, AB InBev, Kraft Heinz, Lindt, Whole Foods Market, Red Bull, and Hyatt.
CASY vs SHOP — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.5B | $3.7B |
| Net Profit | $206.3M | $743.0M |
| Gross Margin | — | 46.1% |
| Operating Margin | 6.1% | 17.2% |
| Net Margin | 4.6% | 20.2% |
| Revenue YoY | 14.2% | 30.6% |
| Net Profit YoY | 14.0% | -42.5% |
| EPS (diluted) | $5.53 | $0.58 |
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 | $3.7B | ||
| Q3 25 | $4.6B | $2.8B | ||
| Q2 25 | $4.0B | $2.7B | ||
| Q1 25 | $3.9B | $2.4B | ||
| Q4 24 | $3.9B | $2.8B | ||
| Q3 24 | $4.1B | $2.2B | ||
| Q2 24 | $3.6B | $2.0B | ||
| Q1 24 | $3.3B | $1.9B |
| Q4 25 | $206.3M | $743.0M | ||
| Q3 25 | $215.4M | $264.0M | ||
| Q2 25 | $98.3M | $906.0M | ||
| Q1 25 | $87.1M | $-682.0M | ||
| Q4 24 | $180.9M | $1.3B | ||
| Q3 24 | $180.2M | $828.0M | ||
| Q2 24 | $87.0M | $171.0M | ||
| Q1 24 | $86.9M | $-273.0M |
| Q4 25 | — | 46.1% | ||
| Q3 25 | — | 48.9% | ||
| Q2 25 | — | 48.6% | ||
| Q1 25 | — | 49.5% | ||
| Q4 24 | — | 48.1% | ||
| Q3 24 | — | 51.7% | ||
| Q2 24 | — | 51.1% | ||
| Q1 24 | — | 51.4% |
| Q4 25 | 6.1% | 17.2% | ||
| Q3 25 | 6.1% | 12.1% | ||
| Q2 25 | — | 10.9% | ||
| Q1 25 | 2.8% | 8.6% | ||
| Q4 24 | 6.1% | 16.5% | ||
| Q3 24 | 5.8% | 13.1% | ||
| Q2 24 | — | 11.8% | ||
| Q1 24 | 3.4% | 4.6% |
| Q4 25 | 4.6% | 20.2% | ||
| Q3 25 | 4.7% | 9.3% | ||
| Q2 25 | 2.5% | 33.8% | ||
| Q1 25 | 2.2% | -28.9% | ||
| Q4 24 | 4.6% | 46.0% | ||
| Q3 24 | 4.4% | 38.3% | ||
| Q2 24 | 2.4% | 8.4% | ||
| Q1 24 | 2.6% | -14.7% |
| Q4 25 | $5.53 | $0.58 | ||
| Q3 25 | $5.77 | $0.20 | ||
| Q2 25 | $2.63 | $0.69 | ||
| Q1 25 | $2.33 | $-0.53 | ||
| Q4 24 | $4.85 | $0.99 | ||
| Q3 24 | $4.83 | $0.64 | ||
| Q2 24 | $2.34 | $0.13 | ||
| Q1 24 | $2.33 | $-0.21 |
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 | $5.8B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.8B | $13.5B |
| Total Assets | $8.6B | $15.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $492.0M | $5.8B | ||
| Q3 25 | $458.1M | $6.3B | ||
| Q2 25 | $326.7M | $5.8B | ||
| Q1 25 | $394.8M | $5.5B | ||
| Q4 24 | $351.7M | $5.5B | ||
| Q3 24 | $305.0M | — | ||
| Q2 24 | $206.5M | — | ||
| Q1 24 | $177.9M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $2.4B | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $1.6B | — | ||
| Q1 24 | — | — |
| Q4 25 | $3.8B | $13.5B | ||
| Q3 25 | $3.6B | $12.5B | ||
| Q2 25 | $3.5B | $12.1B | ||
| Q1 25 | $3.4B | $11.1B | ||
| Q4 24 | $3.3B | $11.6B | ||
| Q3 24 | $3.2B | $10.1B | ||
| Q2 24 | $3.0B | $9.2B | ||
| Q1 24 | $2.9B | $8.9B |
| Q4 25 | $8.6B | $15.2B | ||
| Q3 25 | $8.4B | $15.0B | ||
| Q2 25 | $8.2B | $14.6B | ||
| Q1 25 | $8.2B | $13.4B | ||
| Q4 24 | $7.7B | $13.9B | ||
| Q3 24 | $6.5B | — | ||
| Q2 24 | $6.3B | — | ||
| Q1 24 | $6.2B | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.69× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.52× | — | ||
| Q1 24 | — | — |
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 | $725.0M |
| Free Cash FlowOCF − Capex | $176.0M | $715.0M |
| FCF MarginFCF / Revenue | 3.9% | 19.5% |
| Capex IntensityCapex / Revenue | 3.8% | 0.3% |
| Cash ConversionOCF / Net Profit | 1.68× | 0.98× |
| TTM Free Cash FlowTrailing 4 quarters | $682.2M | $2.0B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $347.1M | $725.0M | ||
| Q3 25 | $372.4M | $513.0M | ||
| Q2 25 | $333.9M | $428.0M | ||
| Q1 25 | $204.9M | $367.0M | ||
| Q4 24 | $270.7M | $615.0M | ||
| Q3 24 | $281.4M | $423.0M | ||
| Q2 24 | $288.4M | $340.0M | ||
| Q1 24 | $122.8M | $238.0M |
| Q4 25 | $176.0M | $715.0M | ||
| Q3 25 | $262.4M | $507.0M | ||
| Q2 25 | $153.1M | $422.0M | ||
| Q1 25 | $90.7M | $363.0M | ||
| Q4 24 | $160.0M | $611.0M | ||
| Q3 24 | $180.8M | $421.0M | ||
| Q2 24 | $92.1M | $333.0M | ||
| Q1 24 | $-27.0M | $232.0M |
| Q4 25 | 3.9% | 19.5% | ||
| Q3 25 | 5.7% | 17.8% | ||
| Q2 25 | 3.8% | 15.7% | ||
| Q1 25 | 2.3% | 15.4% | ||
| Q4 24 | 4.1% | 21.7% | ||
| Q3 24 | 4.4% | 19.5% | ||
| Q2 24 | 2.6% | 16.3% | ||
| Q1 24 | -0.8% | 12.5% |
| Q4 25 | 3.8% | 0.3% | ||
| Q3 25 | 2.4% | 0.2% | ||
| Q2 25 | 4.5% | 0.2% | ||
| Q1 25 | 2.9% | 0.2% | ||
| Q4 24 | 2.8% | 0.1% | ||
| Q3 24 | 2.5% | 0.1% | ||
| Q2 24 | 5.5% | 0.3% | ||
| Q1 24 | 4.5% | 0.3% |
| Q4 25 | 1.68× | 0.98× | ||
| Q3 25 | 1.73× | 1.94× | ||
| Q2 25 | 3.40× | 0.47× | ||
| Q1 25 | 2.35× | — | ||
| Q4 24 | 1.50× | 0.48× | ||
| Q3 24 | 1.56× | 0.51× | ||
| Q2 24 | 3.31× | 1.99× | ||
| Q1 24 | 1.41× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CASY
Segment breakdown not available.
SHOP
| Services | $2.9B | 79% |
| Subscription And Circulation | $777.0M | 21% |
