Okay, first off full disclaimer I'm partial to both but the the only reason I have ANY reason in ANY watches is thanks to Casio. You could even label me a Casio enthusiast and you wouldn't be off by much.
Furthermore, I've owned several of both brands and I do follow relevant news stories to an extent w/ both companies.
Anyhow, looking at Casio. This is a company that's known for its cheap digital watches, that are durable. Plus a few others, the Casio Forester being a common favorite of the regular populace. Timex is known in a similar vein (Expedition, Weekender, etc.).
Yet, after that..... Casio has a genuine following. Its competitive under its own name under multiple price points. Its constantly innovating and leading the industry in some manner (at the moment bluetooth). Timex is still selling the products of yesteryear and it's current day versions of the Marlin incorporate Chinese movements. Timex feels cheap, if not in person than from afar. Looking at their products, their built as cheaply as possibly. You get the sense Ceteris Paribus is a common saying around Timex HQ. Timex has lost massive amounts of market share in the United States. Profit margins are subpar compared with yester year.
Meanwhile, Casio is putting out new Original products, then offering new strap combos (unlike Timex and their infinite strap game).
After that rambling, Casio products feel solid in its entirety across their lowest offerings. Timex has a loud tick, batteries that die quickly, chrono functions that feel cheap, the list goes on.
Timex is Sears (or perhaps JC Penny) and Casio is like Target.
Casio is hip and cool. Timex could up its game.
These are my random ramblings late at night as I fend off sleep but tell me I don't have a point