Cass Information Systems (NASDAQ:CASS)
CAPS Rating:
The Company is a provider of payment and information processing services to manufacturing, distribution and retail enterprises across the United States.
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The Company is a provider of payment and information processing services to manufacturing, distribution and retail enterprises across the United States.
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Back out cash and debt and it's trading for less than 9 times earnings with stellar ROE.
CASS is one of my favorites, but I do not think your treatment of cash is correct here.
There are corresponding liabilities. The large amount of apparent cash is due to the fact that CASS has a bank as part of its structure. Check out the CASS MF HG board where we have reviewed this. Still good value here even with the large run-up this year.