Cass Information Systems Inc
CASS—
Build a strategy around CASS
Cass Information Systems Inc AI Insights
Informational only. Not investment advice.Snapshot
- Accounts payable of 1.1B vs 243M equity - float-based model where CASS holds client funds before disbursement, generating interest income on float.[Accounts Payable]
- Net margin TTM 16.1% vs industry median 3.5% - 4.6x advantage from asset-light payment processing model with zero debt.[Net Margin TTM]
- EPS growth 214% YoY while trading at P/E 21x vs industry 27x - earnings inflection not yet priced in.[EPS Growth 1Yr]
Watch Triggers
- Accounts Payable: Decline >15% from 1.1B — Float shrinkage signals client attrition or payment timing changes - directly impacts interest income
- Net Margin TTM: Falls below 12% — Margin compression would indicate rate pressure or competitive pricing erosion
- EPS Growth 1Yr: Turns negative — Would invalidate earnings inflection thesis and justify current discount to peers
Bull Case
Float-based business model generates 1.1B in non-interest-bearing liabilities - earns spread on client funds with zero debt, creating structural margin advantage.
Accounts PayableDebt to EquityNet Margin TTM
FCF of 45.3M TTM on 572M market cap = 7.9% FCF yield with 61% dividend payout ratio, leaving room for buybacks or reinvestment.
Free Cash Flow TTMDividend Payout Ratio Avg 5Yr
Bear Case
Revenue of 196M is micro-cap scale in payment processing - vulnerable to larger competitors with pricing power and technology budgets.
Total Revenue TTMMarket Cap TTM
Volume of 67K shares/day creates liquidity risk - institutional investors may struggle to build/exit positions without price impact.
Volume
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
55%
Leverage CASS's top insights and create a custom strategy based on them in seconds. Our AI editor does it all — in one click.
Forward Thesis
Rising rates amplify float income as 1.1B client funds earn higher yields with minimal cost increase.
1-3ymed
- 1.1B accounts payable represents client payment float
- Interest expense 17M on 2.5B assets suggests low funding costs
- Zero debt means rate sensitivity is one-directional (positive)
Accounts payable 4.6x equity (1.1B vs 243M)Debt/equity 0% vs industry normNet margin 16.1% TTM already elevated
Valuation Context
Caveats
Public Strategies Rankings
See how Cass Information Systems Inc ranks across different investment strategies.
Leverage CASS's top insights and create a custom strategy in seconds. Our AI editor does it all — in one click.
CASS Fundamentals
Administrative and Support and Waste Management and Remediation Services → Administrative and Support Services
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$589.84M | — | ||
$331.21M | — | ||
19 | — | ||
$195.88M | +3.1% | — | |
$2.32 | +20.8% | — | |
0% | — | ||
16.1% | +4.0% | — | |
$45.27M | +200.2% | — | |
13.1% | +2.7% | — | |
Beta 5Y (Monthly) | unknown | — |
CASS Dividend History
105 dividends
2026
$0.320003/03/26$0.3200
2025
$1.250012/05/25$0.3200
09/05/25$0.3100
06/03/25$0.3100
03/04/25$0.3100
2024
$1.210012/03/24$0.3100
09/03/24$0.3000
06/04/24$0.3000
03/04/24$0.3000
2023
$1.170012/04/23$0.3000
09/01/23$0.2900
06/02/23$0.2900
03/02/23$0.2900
2022
$1.130012/02/22$0.2900
09/01/22$0.2800
06/02/22$0.2800
03/03/22$0.2800
2021
$1.090012/02/21$0.2800
09/02/21$0.2700
06/03/21$0.2700
03/04/21$0.2700
2020
$1.080012/03/20$0.2700
09/03/20$0.2700
06/04/20$0.2700
03/02/20$0.2700
2019
$1.050012/02/19$0.2700
08/30/19$0.2600
06/03/19$0.2600
03/04/19$0.2600
2018
$0.850012/03/18$0.2167
08/31/18$0.2167
06/04/18$0.2167
03/02/18$0.2000
2017
$0.704512/04/17$0.1818
08/31/17$0.1742
05/31/17$0.1742
03/01/17$0.1742
2016
$0.674212/01/16$0.1742
08/31/16$0.1667
06/01/16$0.1667
03/02/16$0.1667
2015
$0.643912/02/15$0.1667
09/02/15$0.1591
06/03/15$0.1591
03/03/15$0.1591
2014
$0.613612/03/14$0.1591
09/03/14$0.1515
06/03/14$0.1515
03/03/14$0.1515
2013
$0.560612/03/13$0.1515
09/03/13$0.1364
05/31/13$0.1364
03/01/13$0.1364
2012
$0.475212/03/12$0.1240
08/31/12$0.1171
06/01/12$0.1171
03/01/12$0.1171
2011
$0.407012/01/11$0.1064
08/31/11$0.1002
06/01/11$0.1002
03/02/11$0.1002
2010
$0.363112/01/10$0.1002
09/01/10$0.0877
06/02/10$0.0877
03/03/10$0.0877
2009
$0.331812/02/09$0.0877
09/02/09$0.0814
06/03/09$0.0814
03/03/09$0.0814
2008
$0.306812/03/08$0.0814
09/03/08$0.0751
06/03/08$0.0751
03/03/08$0.0751
2007
$0.273211/29/07$0.0683
08/31/07$0.0683
06/01/07$0.0683
03/01/07$0.0683
2006
$0.250412/01/06$0.0683
08/30/06$0.0607
06/01/06$0.0607
03/01/06$0.0607
2005
$0.220112/01/05$0.0607
08/31/05$0.0531
06/01/05$0.0531
03/02/05$0.0531
2004
$0.212512/01/04$0.0531
09/01/04$0.0531
06/03/04$0.0531
03/03/04$0.0531
2003
$0.193212/03/03$0.0483
09/03/03$0.0483
06/03/03$0.0483
03/03/03$0.0483
2002
$0.179812/03/02$0.0483
09/03/02$0.0438
06/03/02$0.0438
03/01/02$0.0438
2001
$0.175312/03/01$0.0438
08/31/01$0.0438
06/01/01$0.0438
03/01/01$0.0438
2000
$0.175312/01/00$0.0438
08/31/00$0.0438
06/01/00$0.0438
03/01/00$0.0438
CASS Stock Splits
9 stock splits
12/03/185:6 split
12/04/1710:11 split
12/03/1210:11 split
12/01/1110:11 split
11/29/0710:11 split
09/19/060.666667:1 split
09/16/052:3 split
03/03/041:1.1 split
12/03/0220:21 split
CASS SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
11/04/25 | 09/30/25 | 10-Q | |
08/05/25 | 06/30/25 | 10-Q | |
05/07/25 | 03/31/25 | 10-Q | |
03/05/25 | 12/31/24 | Unknown | |
11/07/24 | 09/30/24 | 10-Q | |
08/06/24 | 06/30/24 | 10-Q | |
05/03/24 | 03/31/24 | 10-Q | |
02/28/24 | 12/31/23 | 10-K | |
11/07/23 | 09/30/23 | 10-Q | |
08/07/23 | 06/30/23 | 10-Q | |
05/09/23 | 03/31/23 | 10-Q | |
02/28/23 | 12/31/22 | 10-K | |
11/07/22 | 09/30/22 | 10-Q | |
08/05/22 | 06/30/22 | 10-Q | |
05/06/22 | 03/31/22 | 10-Q | |
02/28/22 | 12/31/21 | 10-K | |
11/05/21 | 09/30/21 | 10-Q | |
08/05/21 | 06/30/21 | 10-Q | |
05/06/21 | 03/31/21 | 10-Q | |
02/26/21 | 12/31/20 | 10-K | |
11/05/20 | 09/30/20 | 10-Q | |
08/06/20 | 06/30/20 | 10-Q | |
05/07/20 | 03/31/20 | 10-Q | |
02/28/20 | 12/31/19 | 10-K | |
11/07/19 | 09/30/19 | 10-Q | |
08/06/19 | 06/30/19 | 10-Q | |
05/07/19 | 03/31/19 | 10-Q | |
03/01/19 | 12/31/18 | 10-K | |
11/07/18 | 09/30/18 | 10-Q | |
08/07/18 | 06/30/18 | 10-Q | |
05/08/18 | 03/31/18 | 10-Q | |
03/06/20 | 12/31/17 | 10-K/A | |
02/28/18 | 12/31/17 | 10-K | |
11/07/17 | 09/30/17 | 10-Q | |
08/04/17 | 06/30/17 | 10-Q | |
05/03/17 | 03/31/17 | 10-Q | |
03/08/17 | 12/31/16 | 10-K | |
11/02/16 | 09/30/16 | 10-Q | |
08/02/16 | 06/30/16 | 10-Q | |
05/05/16 | 03/31/16 | 10-Q | |
03/07/16 | 12/31/15 | 10-K | |
11/02/15 | 09/30/15 | 10-Q | |
08/03/15 | 06/30/15 | 10-Q | |
05/04/15 | 03/31/15 | 10-Q | |
03/09/15 | 12/31/14 | 10-K | |
11/03/14 | 09/30/14 | 10-Q | |
08/04/14 | 06/30/14 | 10-Q | |
05/05/14 | 03/31/14 | 10-Q | |
03/11/14 | 12/31/13 | 10-K | |
11/01/13 | 09/30/13 | 10-Q | |
08/02/13 | 06/30/13 | 10-Q | |
05/03/13 | 03/31/13 | 10-Q | |
03/08/13 | 12/31/12 | 10-K | |
11/02/12 | 09/30/12 | 10-Q | |
08/03/12 | 06/30/12 | 10-Q | |
05/04/12 | 03/31/12 | 10-Q | |
03/09/12 | 12/31/11 | 10-K | |
11/03/11 | 09/30/11 | 10-Q | |
08/04/11 | 06/30/11 | 10-Q | |
05/05/11 | 03/31/11 | 10-Q | |
03/10/11 | 12/31/10 | 10-K | |
11/04/10 | 09/30/10 | 10-Q | |
08/05/10 | 06/30/10 | 10-Q | |
05/06/10 | 03/31/10 | 10-Q | |
03/11/10 | 12/31/09 | 10-K | |
11/05/09 | 09/30/09 | 10-Q | |
08/06/09 | 06/30/09 | 10-Q | |
05/07/09 | 03/31/09 | 10-Q | |
03/12/09 | 12/31/08 | 4 | |
11/06/08 | 09/30/08 | 10-Q | |
08/07/08 | 06/30/08 | 10-Q | |
05/09/08 | 03/31/08 | 10-Q | |
03/13/08 | 12/31/07 | 10-K | |
11/08/07 | 09/30/07 | 10-Q | |
08/08/07 | 06/30/07 | 10-Q | |
05/09/07 | 03/31/07 | 10-Q | |
03/15/07 | 12/31/06 | 10-K | |
11/08/06 | 09/30/06 | 10-Q | |
08/08/06 | 06/30/06 | 10-Q | |
05/09/06 | 03/31/06 | 10-Q | |
03/15/06 | 12/31/05 | 10-K | |
11/08/05 | 09/30/05 | 10-Q | |
08/08/05 | 06/30/05 | 10-Q | |
05/09/05 | 03/31/05 | 10-Q | |
03/15/05 | 12/31/04 | 10-K | |
11/12/04 | 09/30/04 | 10-Q | |
08/06/04 | 06/30/04 | 10-Q | |
05/07/04 | 03/31/04 | 10-Q | |
03/17/04 | 12/31/03 | 10-K | |
11/12/03 | 09/30/03 | 10-Q | |
08/08/03 | 06/30/03 | 10-Q | |
05/15/03 | 03/31/03 | 10-Q | |
03/17/03 | 12/31/02 | 10-K | |
11/05/02 | 09/30/02 | 10-Q | |
08/12/02 | 06/30/02 | 10-Q | |
05/03/02 | 03/31/02 | 10-Q | |
03/18/02 | 12/31/01 | 10-K405 | |
10/31/01 | 09/30/01 | 10-Q | |
08/08/01 | 06/30/01 | 10-Q | |
05/01/01 | 03/31/01 | 10-Q | |
03/20/01 | 12/31/00 | 10-K | |
11/14/00 | 09/30/00 | 10-Q | |
08/08/00 | 06/30/00 | 10-Q | |
05/11/00 | 03/31/00 | 10-Q |