CASSCASS INFORMATION SYSTEMS INC
Services-Business Services, NEC
- Revenue
- $108M
- 1.8% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- $675M
- Employees
- —
- Net debt / EBITDA
- —
- AI in 10-K
- 5.8
- mentions per 10K words
Takeover score 2 of 13
Fixable underperformance 1 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo107% of net incomeCash flow under 80% of net income
- Dilutive SBCNo4% of revenueOver 10% of revenue
- Payouts exceed cash flowYes114% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo1% of assetsOver 40% of assets
- Shareholder dissentNo98% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AINo5.8 per 10K words · 85th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$675M market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo$0 netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $109M | $122M | $106M | $110M | $108M | 1.8% |
| Net income | $29M | $35M | $30M | $19M | $35M | 83% |
| Operating cash flow | $35M | $52M | $37M | $39M | $37M | 3.9% |
| Capex | $4M | $6M | $12M | $9M | $6M | 33% |
| Stock-based comp | $3M | $7M | $4M | $3M | $4M | 37% |
| Buybacks | $31M | $5M | $6M | $7M | $26M | 259% |
| Dividends | $15M | $15M | $16M | $16M | $17M | 0.3% |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
No pay-versus-performance disclosure yet.