Cass Information Systems, Inc. (CASS) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.72	$0.81	+12.5%	—	$50.5M	—
Q1 26	$0.63	$0.66	+4.8%	—	$49.2M	—
Q4 25	$0.64	$0.62	-3.1%	—	$40M	—
Q3 25	$0.63	$0.69	+9.5%	—	$49.9M	—
Q2 25	$0.72	$0.38	-47.2%	—	$44.4M	—
Q1 25	$0.6	$0.63	+5.0%	—	$47.3M	—
Q4 24	$0.44	$0.33	-25.0%	—	$41.1M	—
Q3 24	$0.5	$0.21	-58.0%	—	$50.4M	—
Q2 24	$0.53	$0.32	-39.6%	—	$49M	—
Q1 24	$0.59	$0.52	-11.9%	—	$49.8M	—
Q4 23	$0.48	$0.61	+27.1%	—	$40.9M	—
Q3 23	$0.55	$0.54	-1.8%	—	$49.3M	—
Q2 23	$0.67	$0.52	-22.4%	—	$48.1M	—
Q1 23	$0.7	$0.51	-27.1%	—	$49M	—
Q4 22	$0.71	$0.67	-5.6%	—	$41.6M	—
Q3 22	—	$0.64	—	—	$47.8M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$2.66	—	—	$181.6M	—
FY24	—	$1.42	—	—	$190.2M	—
FY23	—	$2.22	—	—	$187.3M	—
FY22	—	$2.58	—	—	$176M

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$120.7M	$130.9M	$143.4M	$152M	$139.9M	$146.6M	$176M	$187.3M	$190.2M	$181.6M
YoY change	+3.08%	+8.41%	+9.53%	+6%	-7.92%	+4.78%	+20%	+6.47%	+1.55%	-4.56%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	120.7M	130.9M	143.4M	152M	139.9M	146.6M	176M	187.3M	190.2M	181.6M
Cost of revenue	—	—	—	—	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—	—	—	—	—
Gross margin	—	—	—	—	—	—	—	—	—	—
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	77.7M	82.7M	92.2M	97.5M	90.2M	94.8M	109.4M	121.9M	126.9M	113.1M
Operating expenses	77.7M	82.7M	92.2M	97.5M	90.2M	94.8M	109.4M	121.9M	126.9M	113.1M
Operating income	—	—	—	—	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—	—	—	—	—
Non-operating income, net	—	—	—	—	—	—	—	—	—	—
Pretax income	32.1M	34.9M	36.3M	37.5M	30.3M	33.8M	42.9M	37.4M	24.2M	38.8M
Income tax	7.7M	9.9M	6.1M	7.1M	5.2M	5.2M	8M	7.3M	5.1M	7.6M
Net income	24.3M	25M	30.3M	30.4M	25.2M	28.6M	34.9M	30.1M	19.2M	35.1M
Net margin	20.2%	19.1%	21.1%	20%	18%	19.5%	19.8%	16%	10.1%	19.3%
EBITDA	—	—	—	—	—	—	—	—	—	—
EPS	1.65	1.7	2.06	2.11	1.75	2.03	2.58	2.22	1.42	2.66
Diluted EPS	1.63	1.68	2.03	2.07	1.73	2	2.53	2.18	1.39	2.61

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	49.3M	40.9M	49.8M	49M	50.4M	41.1M	47.3M	44.4M	49.9M	40M	49.2M	50.5M
Cost of revenue	—	—	—	—	—	—	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—	—	—	—	—	—	—
Gross margin	—	—	—	—	—	—	—	—	—	—	—	—
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	29.6M	32.9M	30.6M	29.9M	29.9M	36.6M	27.3M	27.8M	27.6M	30.5M	27.3M	27.1M
Operating expenses	29.6M	32.9M	30.6M	29.9M	29.9M	36.6M	27.3M	27.8M	27.6M	30.5M	27.3M	27.1M
Operating income	—	—	—	—	—	—	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—	—	—	—	—	—	—
Non-operating income, net	—	—	—	—	—	—	—	—	—	—	—	—
Pretax income	9.2M	10.4M	9M	5.8M	3.7M	5.8M	10.9M	6.3M	11.6M	10M	10.9M	13.2M
Income tax	1.8M	1.9M	1.9M	1.3M	714K	1.2M	2.3M	1.1M	2.4M	1.8M	2.1M	2.6M
Net income	7.4M	8.4M	7.2M	4.5M	2.9M	4.6M	9M	8.9M	9.1M	8.2M	8.8M	10.6M
Net margin	15%	20.6%	14.4%	9.15%	5.83%	11.2%	19%	19.9%	18.3%	20.5%	18%	21%
EBITDA	—	—	—	—	—	—	—	—	—	—	—	—
EPS	0.55	0.62	0.53	0.33	0.22	0.34	0.67	0.67	0.69	0.63	0.69	0.83
Diluted EPS	0.54	0.61	0.52	0.32	0.21	0.33	0.66	0.66	0.68	0.62	0.67	0.81

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	820.3M	713.8M	777.6M	832M	559.8M	554M	621M	609.5M	552.4M	547.3M	694.7M
Enterprise value	281.1M	73.8M	141.7M	236.8M	-468.5M	-634.3M	-334.4M	-390.1M	-325.4M	148.3M	548.9M
Shares outstanding	14.7M	14.7M	14.7M	14.4M	14.4M	14.1M	13.6M	13.5M	13.5M	13.2M	13.2M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	33.7	28.5	25.7	27.4	22.2	19.4	17.8	20.3	28.8	15.6	19.5
P/S	6.8	5.45	5.42	5.48	4	3.78	3.53	3.25	2.9	3.01	3.22
P/B	3.94	3.17	3.38	3.41	2.14	2.25	3.01	2.65	2.41	2.25	2.83
EV/EBITDA	—	—	—	—	—	—	—	—	—	—	7.83
EV/Sales	2.33	0.56	0.99	1.56	-3.35	-4.33	-1.9	-2.08	-1.71	0.82	2.55
Earnings yield	2.97%	3.5%	3.89%	3.65%	4.5%	5.16%	5.62%	4.93%	3.47%	6.42%	5.13%
FCF yield	3.72%	4.87%	5.65%	4.74%	8.18%	5.45%	7.37%	3.71%	5.36%	5.81%	13.6%
PEG	—	—	—	—	—	—	—	—	—	—	0.82

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Operating margin	—	—	—	—	—	—	—	—	—	—	31.6%
Net margin	20.2%	19.1%	21.1%	20%	18%	19.5%	19.8%	16%	10.1%	19.3%	17.1%
ROE	11.7%	11.1%	13.2%	12.5%	9.64%	11.6%	16.9%	13.1%	8.37%	14.5%	15.1%
ROA	—	—	—	—	—	—	—	—	0.8%	1.35%	1.63%
Return on tangible assets	—	—	—	—	—	—	—	—	0.82%	1.37%	1.48%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	—	—	—	—	—	—	—	—	—	—	1.01
Debt / equity	—	—	0	0.07	0	—	—	—	—	—	0.34
Debt / assets	—	—	—	—	—	—	—	—	—	—	0.03
Net debt / EBITDA	—	—	—	—	—	—	—	—	—	—	-2.06
Effective tax rate	24.1%	28.3%	16.7%	18.8%	17%	15.4%	18.6%	19.5%	20.9%	19.7%	19.6%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	8.2	8.89	9.76	10.5	9.73	10.4	13	13.8	14.1	13.8	16.6
EPS (basic)	1.65	1.7	2.06	2.11	1.75	2.03	2.58	2.22	1.42	2.66	2.66
EPS (diluted)	1.63	1.68	2.03	2.07	1.73	2	2.53	2.18	1.39	2.61	2.77
Book value per share	14.1	15.3	15.6	16.9	18.2	17.4	15.2	17	17	18.4	19.1
FCF per share	2.07	2.36	2.99	2.73	3.18	2.14	3.38	1.67	2.19	2.41	3.21
Cash per share	36.6	43.5	43.3	42.6	71.5	84.3	70.5	73.9	65	30.3	17.8
Capex per share	0.32	0.28	0.3	0.19	0.14	0.31	0.43	1.06	0.69	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	3.88%	3.15%	3.07%	1.79%	1.43%	2.98%	3.33%	7.65%	4.9%	—	—
Capex / operating cash flow	11.5%	8.27%	8.94%	7.63%	4.42%	16.1%	13.6%	41.7%	27.4%	—	—
Payout ratio	41%	42.7%	43.5%	50.1%	62%	54%	44.2%	53.1%	85.9%	47%	45.9%
Dividend yield	1.22%	1.5%	1.69%	1.83%	2.79%	2.79%	2.49%	2.62%	2.98%	3.02%	2.36%

Yield

2.36%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.32

ex-dividend Sep 4, 2026

Payout ratio

46%

of earnings

Dividend growth

12 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 4, 2026	$0.32
Jun 5, 2026	$0.32
Mar 3, 2026	$0.32

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$49.3M	$40.9M	$49.8M	$49M	$50.4M	$41.1M	$47.3M	$44.4M	$49.9M	$40M	$49.2M	$50.5M
YoY change	+3.34%	-1.63%	+1.57%	+1.88%	+2.15%	+0.42%	-4.94%	-9.32%	-1.09%	-2.66%	+3.91%	+13.6%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	539.2M	640M	635.9M	613.2M	1B	1.2B	955.4M	999.6M	877.7M	399M
Receivables	—	—	—	—	—	5M	95.8M	110.7M	55.9M	69.4M
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	—	—	—	—	—	—	—	—	—	—
Property, plant & equipment	8M	8.2M	7.3M	5.8M	3.3M	3.3M	5.1M	14.9M	19M	14.1M
Goodwill & intangibles	27.2M	29.1M	28.2M	37.1M	35.4M	33.7M	42.9M	41.3M	52.7M	39.8M
Total assets	—	—	—	—	—	—	—	—	2.4B	2.6B
Accounts payable	642.3M	715.9M	694.4M	684.3M	835.4M	1.1B	1.1B	1.1B	1.1B	1.1B
Short-term debt	—	—	0	18M	0	—	—	—	—	—
Total current liabilities	—	—	—	—	—	—	—	—	—	—
Long-term debt	—	—	—	—	—	—	—	—	—	—
Total liabilities	—	—	—	—	—	—	—	—	2.2B	2.4B
Shareholders' equity	208M	225.1M	229.8M	244.2M	261.2M	245.8M	206.3M	229.8M	229M	243M
Total debt	—	—	0	18M	0	—	—	—	—	—
Net debt	—	—	-194.3M	-172.5M	-670.5M	—	—	—	—	—

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	1B	999.6M	814.7M	764.5M	781.3M	877.7M	797.2M	225.3M	976M	399M	253.7M	237.6M
Receivables	28.7M	110.7M	32.9M	78.4M	30.9M	55.9M	40.5M	60.3M	49.8M	69.4M	5M	44.7M
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	—	—	—	—	—	—	—	—	—	—	—	—
Property, plant & equipment	—	14.9M	—	—	—	19M	—	—	—	14.1M	—	—
Goodwill & intangibles	41.7M	41.3M	40.9M	40.6M	40.2M	52.7M	41.6M	41M	40.4M	39.8M	39.2M	38.6M
Total assets	—	—	2.3B	2.3B	2.3B	2.4B	2.3B	2.3B	2.5B	2.6B	2.5B	2.5B
Accounts payable	1.1B	1.1B	944.8M	996.8M	936.5M	1.1B	1B	1B	1.1B	1.1B	1B	1B
Short-term debt	—	—	—	—	—	—	—	—	—	—	145M	80M
Total current liabilities	—	—	—	—	—	—	—	—	—	—	—	—
Long-term debt	—	—	—	—	—	—	—	—	—	—	—	—
Total liabilities	—	—	2.1B	2.1B	2B	2.2B	2.1B	2.1B	2.2B	2.4B	2.3B	2.3B
Shareholders' equity	206.2M	229.8M	229.5M	229.9M	237.6M	229M	234.2M	240.8M	243.4M	243M	241.8M	244.7M
Total debt	—	—	—	—	—	—	—	—	—	—	145M	80M
Net debt	—	—	—	—	—	—	—	—	—	—	-99.3M	-148.5M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	24.3M	25M	30.3M	30.4M	25.2M	28.6M	34.9M	30.1M	19.2M	31.1M
Depreciation & amortization	9.4M	11.3M	11.2M	4.8M	5.3M	5.2M	4.7M	5M	6M	7.2M
Stock-based compensation	2M	2.3M	3M	3.1M	2.3M	2.9M	6.7M	4.1M	3.2M	4.2M
Change in working capital	4.2M	11.4M	14M	-2.8M	9.6M	-2.4M	-5M	-3M	1.9M	-322K
Operating cash flow	40.9M	49.9M	49.2M	35.7M	45.3M	27.2M	43.3M	34.3M	34M	37.4M
Capital expenditure	-4.7M	-4.1M	-4.4M	-2.7M	-2M	-4.4M	-5.9M	-14.3M	-9.3M	—
Investing cash flow	-35.8M	-118.5M	-11.5M	-24.8M	75.3M	-459.9M	-184.1M	216.1M	71.6M	-160.3M
Dividends paid	-10M	-10.7M	-13.2M	-15.2M	-15.6M	-15.4M	-15.4M	-16M	-16.5M	-16.5M
Share repurchases	-9.2M	-2.3M	-8.8M	-7.8M	-6.8M	-31M	-5.3M	-5.8M	-7.2M	-26M
Financing cash flow	44.5M	6.2M	-42.6M	-28.6M	169M	167.7M	-94.9M	-33.7M	107.3M	-62.1M
Net change in cash	49.5M	-62.4M	-4.8M	-17.7M	289.5M	-264.9M	-235.7M	216.7M	212.9M	-184.9M
Free cash flow	30.5M	34.8M	43.9M	39.4M	45.8M	30.2M	45.7M	22.6M	29.6M	31.8M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	7.4M	8.4M	7.2M	4.6M	3.2M	4.6M	8.6M	5.2M	9.2M	8.2M	8.7M	10.6M
Depreciation & amortization	1.2M	1.3M	1.3M	1.4M	1.6M	1.8M	1.7M	1.9M	1.7M	1.8M	1.7M	1.8M
Stock-based compensation	938K	342K	1.2M	505K	953K	569K	1.2M	918K	1M	1M	1.4M	1.1M
Change in working capital	4.3M	-2.1M	-1.4M	-3.4M	-6.3M	6.4M	1.9M	-2.1M	-180K	27K	494K	-491K
Operating cash flow	11.6M	6.9M	6.9M	11.3M	-135K	18.1M	17.1M	-909K	12.3M	4.8M	14.5M	16.9M
Capital expenditure	-3M	-5M	-3.7M	-2.2M	-1.6M	-1.5M	-2.6M	-1.3M	—	—	—	—
Investing cash flow	14.5M	65.1M	-49.3M	109.3M	8.6M	3.4M	-11.1M	-21.9M	-123.6M	-25.6M	-115.5M	58.6M
Dividends paid	-3.9M	-4.1M	-4.1M	-4.1M	-4.1M	-4.2M	-4.2M	-4.1M	-4.1M	-4.1M	-4.1M	-4.1M
Share repurchases	-2.8M	-561K	-1.1M	0	-2.7M	-3.5M	-5.1M	-5.9M	-6.7M	-8.3M	-2.9M	-3.1M
Financing cash flow	108.9M	-97.4M	-55.8M	5.9M	-15.5M	180.1M	-108.6M	-9.4M	93.3M	-37.4M	76.7M	-84.9M
Net change in cash	135.1M	-25.4M	-98.2M	126.5M	-7.1M	201.6M	-102.5M	-32.2M	-18M	-58.2M	-24.2M	-9.3M
Free cash flow	9.4M	2.6M	6.2M	8.5M	-1.8M	17.1M	19M	-2.6M	11.3M	4.1M	12.7M	13.8M

Date	Ratio
Dec 3, 2018	6:5
Dec 4, 2017	11:10
Dec 3, 2012	11:10
Dec 1, 2011	110:100
Nov 29, 2007	11:10
Sep 18, 2006	3:2
Sep 16, 2005	3:2
Mar 3, 2004	11:10
Dec 3, 2002	105:100
Mar 17, 1997	2:1

Cass Information Systems, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history