Cass Information Systems (STU:CC3) Beneish M-Score: 0.00 (As of Jun. 25, 2026)


STU:CC3 Cass Information Systems Inc STU:CC3
61 GF Score
Price €44.60
GF Value €41.68
! 6 Warning Signs
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What is Cass Information Systems Beneish M-Score?

Cass Information Systems STU:CC3 +2.76% 61 Beneish M-Score is 0.00 as of Jun. 25, 2026. GuruFocus rates STU:CC3 with a GF Score™ of 61/100 and a GF Value™ of €41.68. The stock has 6 warning signs investors should review. Among 1,020 Business Services companies, Cass Information Systems ranks worse than 98039.12% on this metric.

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

The historical rank and industry rank for Cass Information Systems's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Cass Information Systems was 0.00. The lowest was 0.00. And the median was 0.00.

STU:CC3
61GF Score
Cass Information Systems Inc STU:CC3
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Cass Information Systems Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Cass Information Systems for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was €111.5 Mil.
Revenue was 42.525 + 34.134 + 42.483 + 38.515 = €157.7 Mil.
Gross Profit was 42.525 + 34.134 + 42.483 + 38.515 = €157.7 Mil.
Total Current Assets was €0.0 Mil.
Total Assets was €2,191.7 Mil.
Property, Plant and Equipment(Net PPE) was €25.9 Mil.
Depreciation, Depletion and Amortization(DDA) was €6.2 Mil.
Selling, General, & Admin. Expense(SGA) was €97.2 Mil.
Total Current Liabilities was €0.0 Mil.
Long-Term Debt & Capital Lease Obligation was €0.0 Mil.
Net Income was 7.64 + 6.993 + 7.758 + 7.677 = €30.1 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = €0.0 Mil.
Cash Flow from Operations was 12.585 + 4.14 + 10.492 + -1.119 = €26.1 Mil.
 Total Receivables was €37.4 Mil.
Revenue was 43.764 + 35.254 + 41.789 + 41.226 = €162.0 Mil.
Gross Profit was 43.764 + 35.254 + 41.789 + 41.226 = €162.0 Mil.
Total Current Assets was €0.0 Mil.
Total Assets was €2,144.6 Mil.
Property, Plant and Equipment(Net PPE) was €29.4 Mil.
Depreciation, Depletion and Amortization(DDA) was €5.7 Mil.
Selling, General, & Admin. Expense(SGA) was €104.5 Mil.
Total Current Liabilities was €0.0 Mil.
Long-Term Debt & Capital Lease Obligation was €0.0 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(111.467 / 157.657) / (37.43 / 162.033)
=0.707022 / 0.231002
=

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(162.033 / 162.033) / (157.657 / 157.657)
=1 / 1
=

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (0 + 25.866) / 2191.729) / (1 - (0 + 29.367) / 2144.573)
=0.988198 / 0.986306
=

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=157.657 / 162.033
=

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(5.718 / (5.718 + 29.367)) / (6.225 / (6.225 + 25.866))
=0.162976 / 0.19398
=

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(97.225 / 157.657) / (104.488 / 162.033)
=0.616687 / 0.644856
=

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((0 + 0) / 2191.729) / ((0 + 0) / 2144.573)
=0 / 0
=

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(30.068 - 0 - 26.098) / 2191.729
=0.001811

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
Cass Information Systems (STU:CC3) has a Beneish M-Score of 0.00 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Cass Information Systems and its competitors. According to the industry distribution chart, Cass Information Systems ranks #999999 out of 1020 companies in the Business Services industry.
Is Cass Information Systems' Beneish M-Score too high?
Cass Information Systems' current Beneish M-Score is 0.00. Based on the distribution chart, Cass Information Systems ranks #999999 out of 1020 companies in the Business Services industry, which is in the bottom quartile relative to peers. Overall, Cass Information Systems has a GF Score™ of 61/100, reflecting its overall financial health beyond just this single metric.
How does Cass Information Systems' Beneish M-Score compare to TRNS and QUAD?
According to the Business Services industry distribution chart, Cass Information Systems ranks #999999 out of 1020 companies for Beneish M-Score. This places Cass Information Systems in the lower half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for a Business Services company?
A good Beneish M-Score depends on the Business Services industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Cass Information Systems and its competitors. Cass Information Systems's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cass Information Systems stock overvalued right now?
Cass Information Systems (STU:CC3) has a current Beneish M-Score of 0.00. The stock's GF Value™ is €41.68, compared to a current price of €44.60 — trading 7% above its estimated fair value. The current Beneish M-Score is 0.00. Cass Information Systems' overall GF Score™ is 61/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For Cass Information Systems (STU:CC3), the current Beneish M-Score is 0.00 as of Jun. 25, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Cass Information Systems (STU:CC3) Overvalued in 2026?

Based on GuruFocus' analysis, Cass Information Systems stock appears to be overvalued. The current stock price of €44.60 is trading 7% above its estimated GF Value™ of €41.68.

Key valuation signals for STU:CC3:

  • Beneish M-Score: 0.00
  • GF Value™: €41.68 vs. price of €44.60 (7% above fair value)
  • GF Score™: 61/100 with 6 warning signs

No single metric tells the full story. See the STU:CC3 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Cass Information Systems Business Description

Other Exchanges CASS:USA
Address 12444 Powerscourt Drive, Suite 550, St. Louis, MO, USA, 63131
Cass Information Systems Inc is a provider of payment and information processing services to large manufacturing, distribution, and retail enterprises across the United States. The company provides transportation invoice rating, payment processing, auditing, accounting, and transportation information. It is also a processor and payer of energy invoices, including electricity, gas, waste, and other facility-related expenses. Additionally, the firm has a banking subsidiary, offering banking services mainly to privately held businesses in the St. Louis metropolitan area and restaurant franchises and faith-based ministries within the United States. The company operates in two reportable segments: Information Services, which generates the maximum revenue, and Banking Services.
61GF Score

Get the complete analysis for STU:CC3

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€44.60
Price
€41.68
GF Value