Carriage Services Inc

Consumer Discretionary
Other Consumer Services
www.carriageservices.com

Earnings Score
Moat Score
Safety Score

Market Cap $596.39M
PE -178
Debt $5.94M
Cash $1.26M
EV $601.07M
FCF -$10.39M

Earnings

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Sales & Net Margins

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Earnings	-$3.34M
EBIT	-$759.00K
ROE	-2%
ROA	-0%
FCF	-$10.39M
Equity	$198.13M
Growth Stability	31%
PE	-178.45
PEG	-129.68
PB	3.01
P/FCF	-57.38
P/S	21.71
Price/Cash	0
Debt/Equity	0.03
Debt/FCF	-0.57
Net Margins	8%
Gross Margins	83%
Op. Margins	-3%
Earnings CAGR	1%
Sales Growth YoY	2%
Sales CAGR	-4%
FCF CAGR	1%
Equity CAGR	-1%
Earnings Stability	-0.15
Earnings Growth YoY	-15%
Earnings CAGR 5Y	1%
Sales CAGR 5Y	-18%

FCF CAGR 5Y	-1%
Equity CAGR 5Y	-2%
Earnings CAGR 3Y	3%
Sales CAGR 3Y	3%
FCF CAGR 3Y	1%
Equity CAGR 3Y	16%
Market Cap	$596.39M
Revenue	$27.47M
Dividend Yield	0%
Payout Ratio	-2%
Assets	$1.28B
Total Debt	$5.94M
Cash	$1.26M
Shares Outstanding	14.95M
EV	601.07M
Earnings Score	6%
Moat Score	36%
Safety Score	37%
Final Score	26%
Working Capital	-16.57M
Current Ratio	0.72
Gross Profit	$22.71M
Shares Growth 3y	0%
Equity Growth QoQ	5%
Equity Growth YoY	14%

Assets & ROA

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Stockholders Equity & ROE

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Carriage Services Inc is a leading provider of funeral and cemetery services and merchandise in the United States. It operates in two business segments: The Funeral Home Operations segment offers burial, cremation, and consultation services; removes and prepares remains; sells caskets, urns, and related funeral merchandise; and enables the use of funeral home facilities for visitation, remembrance, and transportation services. The Cemetery Operations segment provides services, such as mausoleum crypts, private estates, lawn crypt gardens, traditional single burial grave sites and burial vaults.

SEC Filings

Direct access to Carriage Services Inc (CSV) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Carriage Services Inc compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Carriage Services Inc compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 1%

Stability -15%

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Carriage Services Inc Discounted Cash Flow

Fully customizable DCF calculator online for Carriage Services Inc.

Years

Calculation mode

= -$115M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	-$10M	-$11M	-$11M	-$11M	-$11M	-$11M	-$11M	-$11M	-$12M	-$12M	-$12M	-$120M
DCF		-$9.6M	-$8.8M	-$8.2M	-$7.5M	-$6.9M	-$6.4M	-$5.9M	-$5.4M	-$5M	-$4.6M	-$46M
Value	-$115M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	08/2017	12/2017	08/2018	12/2018	08/2019	12/2019	08/2020	12/2020	08/2021	12/2021	06/2022	12/2022	05/2023	12/2023	05/2024	TTM
Net Margins	7%	9%	8%	-	14%	-	4%	-	5%	-	5%	-	9%	-	11%	-	9%	-	8%
ROA	-	6%	6%	-	5%	-	5%	-	5%	-	5%	-	8%	-	7%	-	6%	-	-0%
ROE	-	13%	11%	-	19%	-	5%	-	6%	-	7%	-	26%	-	30%	-	19%	-	-2%

Net Margins (7.54%)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	08/2017	12/2017	08/2018	12/2018	08/2019	12/2019	08/2020	12/2020	08/2021	12/2021	06/2022	12/2022	05/2023	12/2023	05/2024	TTM
Debt over FCF	-	15.67	8.8	-	8.58	-	1.08	-	3.31	-	0.08	-	0.08	-	0.11	-	0.1	-	-0.57
Debt over Equity	0.96	1.4	1.3	-	1.25	-	0.17	-	0.41	-	0.02	-	0.04	-	0.03	-	0.03	-	0.03
Growth Stability	-	-	-	-	100%	-	31%	-	100%	-	100%	-	100%	-	100%	-	81%	-	31%

Good Debt/FCF ratio (-0.57)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Good Debt/Equity ratio (0.03)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (31%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	08/2017	12/2017	08/2018	12/2018	08/2019	12/2019	08/2020	12/2020	08/2021	12/2021	06/2022	12/2022	05/2023	12/2023	05/2024	CAGR 5Y
Revenue YoY growth	-	7%	2%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-18%
Earnings YoY growth	-	32%	-6%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1%
Equity YoY growth	-	-12%	13%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2%
FCF YoY growth	-	9%	87%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1%