Terahertz (THz) generation by a GaP ridge waveguide with a collinear modal phase-matching scheme based on cascaded difference frequency generation (DFG) processes is theoretically analyzed. The cascaded Stokes interaction processes and the cascaded anti-Stokes interaction processes are investigated from coupled wave equations. THz intensities and quantum conversion efficiency are calculated. Compared with non-cascaded DFG processes, THz intensities from 11-order cascaded DFG processes are increased to 5.48. The quantum conversion efficiency of 177.9% in cascaded processes can be realized, exceeding the Manley-Rowe limit.