HIGHBuilt-inProduct / Revenue mix
61.3%
retail fuel
“10-K Item 1: 'Total retail fuel revenue ... Percentage of total revenue| 61.3 | %'”
CASY · Concentration risk · 10-K extracted
Caseys General Stores (CASY) concentration risks
Updated
The most significant concentration Caseys General Stores discloses is retail fuel at 61.3%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Caseys General Stores’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 3 disclosed concentrations
HIGH1
MEDIUM1
LOW1
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
MEDIUMBuilt-inGeographic
Iowa, Missouri and Illinois
“10-K Item 1: 'approximately half of which are located in Iowa, Missouri and Illinois'”
LOWBuilt-inProduct / Revenue mix
9%
tobacco and nicotine products
“10-K Item 1A: 'Sales of tobacco and nicotine products have averaged approximately 9% of our total revenue over the past three fiscal years'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's concentration profile is anchored by a large-share product dependency on retail fuel sales, which represent the largest disclosed component of total revenue. The filing presents this figure in a pipe-delimited table, so the specific percentage is treated qualitatively rather than cited numerically. What is clear is that retail fuel is the dominant revenue line, a structural feature reflecting the company's convenience-store model where fuel volume drives store traffic and in-store basket size. This means financial results are significantly influenced by fuel margin dynamics, pump volumes, and the competitive pricing environment for motor fuel — all of which are exogenous and can shift materially with crude oil prices and regional supply balances. Alongside the product tilt, there is a geographic concentration: approximately half of the store base is located in Iowa, Missouri, and Illinois, a medium-share structural exposure. This reflects the company's regional roots and deliberate Midwest focus, meaning economic conditions, weather patterns, and competitive dynamics in those three states have an outsized effect on same-store performance relative to a more geographically dispersed operator. A third, smaller exposure involves tobacco and nicotine products, which have averaged approximately 9% of total revenue over the past three fiscal years — a low-share, structural product concentration. Regulatory risk to this category (taxes, flavor bans, age restrictions) adds a modest but distinct headwind potential that is independent of fuel margin dynamics. Together, the profile describes a regional convenience-store operator where fuel economics dominate, geographic reach is concentrated in the Midwest, and a small slice of revenue faces secular regulatory risk in tobacco.
For the engine’s reasoning on CASY’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Specialty Retail
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| CASY● | Caseys General Stores, Inc. | 1 | 1 | 1 | 3 |
| BOBS | Bob's Discount Furniture, Inc. | 1 | 1 | 0 | 2 |
| BBWI | Bath & Body Works, Inc. | 0 | 3 | 1 | 4 |
| ASO | Academy Sports and Outdoors, In | 0 | 1 | 0 | 1 |
| DKS | Dick's Sporting Goods Inc | 0 | 1 | 0 | 1 |
| BBY | Best Buy Co., Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.