CASY
Casey's General Stores, Inc.
Is CASY Halal?
Convenience-store-and-fuel retailer that derives material revenue from alcohol, tobacco, and lottery sales — haram-product revenue is a meaningful component that raises Sharia concerns.
What You Should Know
Casey's operates convenience stores and fuel-retail outlets, with fuel, grocery/general merchandise, prepared food and dispensed beverages. Fuel, food and general retail are generally permissible, while alcohol, tobacco and lottery sales require a school-specific prohibited-revenue calculation. Its April 30, 2026 Form 10-K reports assets of $8,936.055 million, conservative debt/leases of $2,905.075 million, cash of $522.991 million, receivables of $243.502 million and annual revenue of $17,561.101 million. Debt/assets is 32.51%, liquidity/assets is 5.85% and receivables plus cash/assets is 8.58%; known financial ratios pass, but the prohibited-product numerator is not separately disclosed. The filing reports a $14.104 million net interest measure, not a gross interest-income claim.
⚠️ Concerns
- •Alcohol, tobacco and lottery sales require qualified review
- •Lottery tickets involve maysir regardless of revenue share
- •Known debt/assets is 32.51%, below examined limits but close enough to re-check
- •No universal prohibited-product numerator is disclosed; no unsupported percentage asserted
- •Fuel, prepared-food, grocery and general-merchandise mix
Current quantitative Sharia screen
Based on 10-K figures for the period ended 2026-04-30; calculated 2026-07-15.
2,905.075 / 8,936.055
522.991 / 8,936.055
766.493 / 8,936.055
14.104 / 17,561.101
- Financial
- Pass
- Overall
- Incomplete
Debt/assets is 32.51%, liquidity/assets is 5.85%, receivables-plus-cash/assets is 8.58% and the disclosed net interest proxy is 0.08%; the alcohol, tobacco and lottery activity screen remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets, liquidity/assets and receivables-plus-cash/assets are below the examined MSCI limits; product-category allocation remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets is 32.51% and liquidity/assets is 5.85%, below the examined Malaysia limits; prohibited-product allocation remains incomplete.
- Financial
- Not calculated
- Overall
- Incomplete
A properly licensed and reproducible historical market-cap series is not stored; filing-based asset ratios remain documented.
Business-activity disclosure
Casey's operates convenience stores, fuel retail, grocery and prepared-food businesses. Fuel, food and general retail are generally permissible, while alcohol, tobacco and lottery sales require a school-specific prohibited-revenue calculation.
Limitation: The filing does not provide a universal consolidated alcohol, tobacco and lottery revenue numerator; no unsupported percentage is estimated.
Purification
A net interest measure is disclosed, but the prohibited-product numerator is not universal; no fixed purification percentage is asserted.
Inputs, assumptions and primary sources
- Amounts are USD millions from Casey's April 30, 2026 Form 10-K for fiscal 2026.
- Conservative debt combines $2,431.594 million long-term debt and finance-lease obligations with $473.481 million operating-lease liabilities.
- Cash is $522.991 million and net accounts and other receivables are $243.502 million.
- Annual revenue is $17,561.101 million; the filing reports a $14.104 million net interest income/expense measure, which is used as a disclosed income proxy rather than a gross interest-income claim.
- Alcohol, tobacco and lottery revenue is not separately quantified in a universal numerator; its treatment remains qualitative and school-dependent.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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