CASS vs. BMI

Last updated Jun 4, 2026

CASS (Cass Information Systems, Inc.) and BMI (Badger Meter, Inc.) are both stocks. Both are in the Industrials sector — CASS in Specialty Business Services, BMI in Electrical Equipment & Parts. Over the past 10 years, CASS returned 4.49%/yr vs 14.36%/yr for BMI. At a 0.31 correlation, their price movements are largely independent.

Performance

CASS vs. BMI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cass Information Systems, Inc. (CASS) and Badger Meter, Inc. (BMI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CASS achieves a 10.88% return, which is significantly higher than BMI's -25.14% return. Over the past 10 years, CASS has underperformed BMI with an annualized return of 4.49%, while BMI has yielded a comparatively higher 14.36% annualized return.

CASS

• 1D: -1.64%
• 1M: -1.99%
• YTD: 10.88%
• 6M: 6.39%
• 1Y: 10.50%
• 3Y*: 7.06%
• 5Y*: 2.68%
• 10Y*: 4.49%

BMI

• 1D: 3.32%
• 1M: 8.50%
• YTD: -25.14%
• 6M: -26.77%
• 1Y: -48.39%
• 3Y*: -2.87%
• 5Y*: 7.63%
• 10Y*: 14.36%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CASS vs. BMI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CASS Cass Information Systems, Inc.	10.88%	4.47%	-6.68%	1.13%	20.03%	3.60%	-30.88%	11.39%	10.84%	-11.69%
BMI Badger Meter, Inc.	-25.14%	-17.15%	38.28%	42.58%	3.23%	14.11%	46.37%	33.46%	4.09%	30.91%

Correlation

The correlation between CASS and BMI is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.38
Correlation (5Y) Calculated over the trailing 5-year period	0.43
Correlation (10Y) Calculated over the trailing 10-year period	0.43
Correlation (All Time) Calculated using the full available price history since Jul 2, 1996	0.31

The correlation between CASS and BMI shifts across timeframes, from 0.25 (1 year) to 0.43 (10 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap CASS : $602.55M BMI : $3.81B
EPS CASS : $2.62 BMI : $4.42
PE Ratio CASS : 17.42 BMI : 29.34
PEG Ratio CASS : 1.08 BMI : 1.23
PS Ratio CASS : 3.03 BMI : 4.27
PB Ratio CASS : 2.49 BMI : 3.93
Total Revenue (TTM) CASS : $201.20M BMI : $896.73M
Gross Profit (TTM) CASS : $185.57M BMI : $370.96M
EBITDA (TTM) CASS : $42.72M BMI : $199.34M

Return for Risk

CASS vs. BMI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CASS

CASS Risk / Return Rank: 52
CASS Sharpe Ratio Rank: 56
CASS Sortino Ratio Rank: 50
CASS Omega Ratio Rank: 48
CASS Calmar Ratio Rank: 53
CASS Martin Ratio Rank: 54

BMI

BMI Risk / Return Rank: 5
BMI Sharpe Ratio Rank: 3
BMI Sortino Ratio Rank: 6
BMI Omega Ratio Rank: 3
BMI Calmar Ratio Rank: 6
BMI Martin Ratio Rank: 5

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CASS vs. BMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cass Information Systems, Inc. (CASS) and Badger Meter, Inc. (BMI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	CASS	BMI	Difference
Sharpe ratio: Return per unit of total volatility	0.45	-1.10	+1.55
Sortino ratio: Return per unit of downside risk	0.83	-1.46	+2.29
Omega ratio: Gain probability vs. loss probability	1.09	0.77	+0.33
Calmar ratio: Return relative to maximum drawdown	0.53	-0.90	+1.43
Martin ratio: Return relative to average drawdown	1.30	-1.49	+2.79
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CASS vs. BMI - Sharpe Ratio Comparison

The current CASS Sharpe Ratio is 0.45, which is higher than the BMI Sharpe Ratio of -1.10. The chart below compares the historical Sharpe Ratios of CASS and BMI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CASS	BMI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.45	-1.10	+1.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.10	0.23	-0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.15	0.43	-0.27
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.44	-0.11

Drawdowns

CASS vs. BMI - Drawdown Comparison

The maximum CASS drawdown since its inception was -50.89%, smaller than the maximum BMI drawdown of -68.22%. Use the drawdown chart below to compare losses from any high point for CASS and BMI.

Drawdown Indicators

	CASS	BMI	Difference
Max Drawdown Largest peak-to-trough decline	-50.89%	-68.22%	+17.33%
Max Drawdown (1Y) Largest decline over 1 year	-19.82%	-54.14%	+34.32%
Max Drawdown (3Y) Largest decline over 3 years	-20.45%	-55.06%	+34.61%
Max Drawdown (5Y) Largest decline over 5 years	-30.38%	-55.06%	+24.68%
Max Drawdown (10Y) Largest decline over 10 years	-50.89%	-55.06%	+4.17%
Current Drawdown Current decline from peak	-9.76%	-48.39%	+38.63%
Average Drawdown Average peak-to-trough decline	-16.79%	-19.01%	+2.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.09%	33.72%	-25.63%

Volatility

CASS vs. BMI - Volatility Comparison

The current volatility for Cass Information Systems, Inc. (CASS) is 5.07%, while Badger Meter, Inc. (BMI) has a volatility of 10.03%. This indicates that CASS experiences smaller price fluctuations and is considered to be less risky than BMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CASS	BMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.07%	10.03%	-4.96%
Volatility (6M) Calculated over the trailing 6-month period	16.50%	38.58%	-22.08%
Volatility (1Y) Calculated over the trailing 1-year period	23.51%	44.01%	-20.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.98%	33.85%	-6.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.41%	33.68%	-4.27%

Dividends

CASS vs. BMI - Dividend Comparison

CASS's dividend yield for the trailing twelve months is around 2.08%, more than BMI's 1.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BMI Badger Meter, Inc.	1.23%	0.85%	0.58%	0.64%	0.78%	0.71%	0.74%	0.99%	1.14%	1.03%	1.16%	1.33%
CASS Cass Information Systems, Inc.	2.08%	3.01%	2.96%	2.60%	2.47%	2.77%	2.78%	1.82%	1.69%	1.49%	1.21%	1.65%

Financials

CASS vs. BMI - Profitability Comparison

The chart below illustrates the profitability comparison between Cass Information Systems, Inc. and Badger Meter, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

CASS - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Cass Information Systems, Inc. reported a gross profit of 49.10M and revenue of 49.10M. Therefore, the gross margin over that period was 100.0%.

BMI - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Badger Meter, Inc. reported a gross profit of 84.33M and revenue of 202.28M. Therefore, the gross margin over that period was 41.7%.

CASS - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Cass Information Systems, Inc. reported an operating income of 10.88M and revenue of 49.10M, resulting in an operating margin of 22.2%.

BMI - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Badger Meter, Inc. reported an operating income of 35.17M and revenue of 202.28M, resulting in an operating margin of 17.4%.

CASS - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Cass Information Systems, Inc. reported a net income of 8.83M and revenue of 49.10M, resulting in a net margin of 18.0%.

BMI - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Badger Meter, Inc. reported a net income of 27.34M and revenue of 202.28M, resulting in a net margin of 13.5%.

Frequently Asked Questions

Can I hold both CASS and BMI in my portfolio?

CASS and BMI have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CASS or BMI?

BMI has higher volatility (10.03%) compared to CASS (5.07%). In terms of maximum drawdown, CASS dropped -50.89% vs BMI's -68.22%.

Which has better risk-adjusted returns?

CASS currently has the higher Sharpe Ratio (0.45 vs -1.10), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.