# Cass Information Systems, Inc. (CASS)

> Source: Nexqual · https://nexqual.com/CASS · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Cass Information Systems, Inc. (CASS), nexqual.com/CASS" · informational, not investment advice.

**Price:** USD 57.67 (+5.05% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 54.9 · day 55.34–57.76 · 52w 38.2–59.63 · market cap $737M · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $199M, net income $36.7M (18.5% margin), free cash flow $41.9M (SEC filings).
- Valuation: P/E 20.1x (avg 22.0x at the last 3 fiscal year-ends).
- Analysts: Buy (mean 2.00 on a 1–5 scale) (2 analysts), mean target USD 59.5 (range 58–61).
- Total return with dividends: 1Y +50.3% vs S&P 500 +14.9%; 5Y +57.3% vs S&P 500 +80.3%.
- Next earnings: 2027-01-21, EPS estimate USD 0.82, revenue estimate $52.8M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $154M | $182M | $177M | $181M | $191M | $199M |
| Net income | $28.6M | $34.9M | $30.1M | $19.2M | $35.1M | $36.7M |
| EPS (diluted) | $2.00 | $2.53 | $2.18 | $1.39 | $2.61 | — |
| Free cash flow | $30.2M | $45.7M | $25.0M | $30.4M | $31.8M | $41.9M |
| Net margin | 18.6% | 19.1% | 17.0% | 10.6% | 18.4% | 18.5% |
| Revenue growth | +6.3% | +18.4% | -3.0% | +2.4% | +5.3% | — |
| Cash + short-term investments | $515M | $201M | $372M | $350M | $392M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 20.1x · P/S 3.7x · P/FCF 17.6x · P/B 3.0x · FCF yield 5.69% · Earnings yield 4.98% · Dividend yield (paid, TTM) 2.23% · Buyback yield (TTM) 2.85%
P/E at fiscal year-ends: Dec 2025 15.9x, Dec 2024 29.4x, Dec 2023 20.7x.

## Analysts
Consensus Buy (mean 2.00 on a 1–5 scale), 2 analysts; mean target USD 59.5 (low 58, high 61).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-23 | Raymond James | Downgrade | Outperform → Market Perform |  |
| 2026-08-06 | Piper Sandler | Target raised | Neutral | $52 → $61 |
| 2026-07-01 | Raymond James | Target raised | Outperform | $52 → $56 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +50.3% | +57.3% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +50.5% | +9.5% |
| Volatility (annualized) | 22.1% | 24.0% |
| Max drawdown | -9.3% (Dec 2025→Jan 2026) | -28.4% (Nov 2021→May 2022) |

## Peers (Specialty Business Services)
TRNS (Transcat, Inc.) USD 81.84 -5.18% · BKSY (BlackSky Technology Inc.) USD 16.69 -3.80% · KODK (Eastman Kodak Company) USD 9.21 -1.29% · BUUU (BUUU Group Limited) USD 47.9 +13.64% · RHLD (Resolute Holdings Management) USD 118.81 +3.10% · EBF (Ennis, Inc.) USD 22.92 +1.69%

## More
Full page: https://nexqual.com/CASS · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Information services payment and processing revenue | $40.5M | 81.1% | +6.6% |
| Banking Services | $10.4M | 20.7% | +10.9% |
| Total revenue | $49.9M | 100% | — |
The lines above cover 101.8% of total revenue.

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Information services payment and processing revenue | $27.0M | 54.1% | +0.7% |
| Processing fees | $16.1M | 32.2% | -3.7% |
| Financial fees | $11.0M | 21.9% | +7.8% |
| Bank service fees | $398,000 | 0.8% | +13.7% |
| Total revenue | $49.9M | 100% | — |
The lines above cover 109.1% of total revenue.

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-12-31) | $0.81 | $0.80 | +1.9% | $52.8M | 2 |
| Next quarter (ends 2027-03-31) | $0.83 | $0.81 | +2.5% | $53.0M | 2 |
| Current fiscal year (ends 2026-12-31) | $2.98 | $3.00 | -0.5% | $204.8M | 2 |
| Next fiscal year (ends 2027-12-31) | $3.63 | $3.55 | +2.1% | $218.2M | 2 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2027-03-19 (includes earnings 2027-01-21): ±13.9%; last 8 reports averaged ±2.2%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-12-18 | 56 | 33.8% | ±11.4% |
| 2027-03-19 | 147 | 26.2% | ±13.9% |