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Carriage Services, Inc.

CSV Consumer Cyclical Personal Services

Carriage Services, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $417.4 million, up 3.28% from fiscal 2024.

Revenue
−2.42%
EPS
+33.3%
Free cash flow
+149.1%
Total debt
+31.4%

Quarter to September 2026, against a year earlier

28.30 7.68 −21.35%
Market cap
$448.0M
P/E
9.5×
Fwd P/E
10.5×
Dividend yield
1.59%
F-score
7/9
Altman Z
1.21
Beneish M
−2.15
Dividend safety
75/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 8.53%

Capital & Financial Ratios $m

Size
Market Cap 448.04
Revenue ttm 414.81
Net income ttm 46.92
Free cash flow ttm 94.84
Net debt Q (8.14)
Valuation
P/E 9.50
Forward P/E 10.50
Price / sales 1.07
Forward P/S Powerpack
Price / FCF 4.68
Price / book 1.54
Financial health
Current ratio Q 1.45
Debt / equity Q 0.00 (at or below 0.5: strong)
Interest coverage Q 2.88
Growth
Revenue growth Q −2.42% (below 0%: shrinking)
Operating income growth Q +10.81% (above 0%: growing)
EPS, this year −0.13% (below 0%: weak)
EPS, next year A +6.57%
Revenue, next year A +3.78%
EPS, past 5 yrs +29.57% (at or above 15%: strong)
EPS, next 5 yrs A +7.27%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.4×, against a ten-year median of 2.8×; over the ten years it ranged from 2.0× in 2024 to 4.5× in 2021.
P/E against its own 10 years 4.22%
10-year low 10-year high
P/S against its own 10 years 10.56%
10-year low 10-year high
P/B against its own 10 years 8.14%
10-year low 10-year high
EV/Sales against its own 10 years 10.34%
10-year low 10-year high
EV/FCF against its own 10 years 0.04%
10-year low 10-year high

Dividends

Yield
1.59%
Annual rate
0.45
Payout ratio
15.3%
Growth, 2018–26
+5.20%/yr
  1. 0.30 ’18
  2. 0.30 ’19 +0
  3. 0.34 ’20 +13
  4. 0.41 ’21 +22
  5. 0.45 ’22 +9
  6. 0.45 ’23 +0
  7. 0.45 ’24 +0
  8. 0.45 ’25 +0
  9. 0.45 ’26 +0
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 2 1 2 8
Receivables 27 30 41 43
Inventory 8 8 8 8
Other — 1 — —
42 45 56 73
2023 2024 2025 Q'26
Payables 12 15 19 14
ST’ Debt 4 4 4 —
Other — 0 — —
51 58 57 50

Compound Annual Growth %

10y 5y 3y
Sales 5.58% 4.85% 4.09%
Cash Flow 1.66% (6.05%) (0.18%)
Earnings 9.32% 25.93% 7.11%
Book Value 4.92% 1.16% 22.93%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.79 Actual 0.59

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.80 0.75 Miss by 0.05
Q1 FY26 0.85 0.86 Beat by 0.01
Q2 FY26 0.82 0.78 Miss by 0.04
Q3 FY26 0.79 0.59 Miss by 0.20
Q4 FY26 0.90 — Reports 24 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.84 0.77 0.56 — —
’25 1.34 0.74 0.41 0.77 3.25
’24 0.45 0.40 0.63 0.62 2.10
’23 0.57 0.53 0.30 0.75 2.14
’22 1.00 0.69 0.38 0.53 2.63
’21 0.71 (0.33) 0.71 0.77 1.81
’20 (0.23) 0.36 0.31 0.46 0.89
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 106 103 100 — —
’25 107 102 103 105 417
’24 103 102 101 98 404
’23 96 98 90 99 383
’22 98 91 87 94 370
’21 97 88 95 96 376
’20 77 77 84 90 329
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 15 8 25 — —
’25 14 8 25 14 61
’24 20 2 21 9 52
’23 26 13 23 14 76
’22 16 14 20 11 61
’21 27 15 28 15 84
’20 14 17 37 15 83
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 11 2 19 — —
’25 11 5 (39) 63 40
’24 16 (1) 16 5 36
’23 21 9 19 9 58
’22 9 8 13 5 35
’21 22 8 25 5 59
’20 11 14 33 10 68
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 248 258 268 274 329 376 370 383 404 417 415 +5.9% 433 455 482 +4.9%
Gross margin, % 32.09 29.75 28.34 29.03 32.15 34.46 32.21 32.49 35.48 35.14 34.13 +3.0 pt
EBT 32 33 18 22 25 44 57 46 50 70 66 +9.0%
EBT margin, % 12.99 12.70 6.82 8.18 7.48 11.79 15.45 12.14 12.39 16.83 15.82 +3.8 pt
Net income 20 37 12 15 16 33 41 33 33 52 47 +11.3%
Per share, $
Per share, $ Revenue 15.03 15.70 14.91 15.33 18.43 21.59 24.92 25.84 27.00 27.06 26.48 +6.8%
Earnings 1.18 2.25 0.64 0.81 0.90 1.90 2.78 2.24 2.17 3.29 2.98 +12.1%
Cash flow 3.03 2.75 2.73 2.42 4.64 4.84 4.11 5.11 3.47 3.93 3.91 +2.9%
Capex (1.13) (1.00) (0.75) (0.81) (0.85) (1.43) (1.76) (1.22) (1.08) (1.34) 2.14 +1.9%
Free cash flow 1.90 1.75 1.97 1.61 3.79 3.41 2.35 3.89 2.40 2.60 6.05 +3.6%
Book value 10.64 12.02 12.33 12.67 13.46 7.35 9.23 11.69 13.93 16.51 18.41 +5.0%
Shares, m 17 16 18 18 18 17 15 15 15 15 16 (0.8%)
Valuation, ×
Valuation, × P/E 24.38 11.44 22.14 32.00 34.42 33.22 10.31 11.26 18.36 12.82 9.50 21.0
P/S 1.90 1.65 1.04 1.67 1.70 2.98 1.15 0.97 1.48 1.56 1.07 1.6
P/B 2.68 2.16 1.26 2.02 2.33 8.76 3.09 2.15 2.86 2.56 1.54 3.0
EV/Sales 3.25 3.04 2.40 3.16 3.06 4.46 2.23 2.49 2.81 2.86 2.35 3.0
EV/FCF 25.79 27.26 18.16 30.11 14.90 28.25 23.65 16.57 31.68 29.77 10.28 24.6
Cash, $m
Cash, $m Operating cash flow 50 45 49 43 83 84 61 76 52 61 61 +2.2%
Capex (19) (16) (14) (14) (15) (25) (26) (18) (16) (21) 34 +1.1%
Free cash flow 31 29 35 29 68 59 35 58 36 40 95 +2.8%
Balance, $m
Balance, $m Working capital (11) (13) (6) 4 (13) (21) (7) (9) (14) (1) 23 (22.5%)
Net debt 337 359 365 410 449 555 402 582 541 535 (8) +5.3%
Shareholders’ equity 176 198 221 227 241 128 137 173 209 255 288 +4.2%
Returns, %
Returns, % ROA 2.28 4.10 1.26 1.41 1.41 2.85 3.49 2.69 2.55 3.87 0.00 +1.6 pt
ROIC 6.12 5.49 4.48 4.66 5.19 8.57 9.24 6.70 6.82 7.73 20.79 +1.6 pt
ROE 11.75 19.85 5.53 6.46 6.87 17.97 31.19 21.35 17.04 21.94 0.00 +10.2 pt
People
People Employees 2,509 2,659 2,617 2,797 2,718 2,657 2,553 2,602 2,420 2,321 — (0.9%)
Revenue/emp, $m 0.10 0.10 0.10 0.10 0.12 0.14 0.14 0.15 0.17 0.18 — +6.9%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Carriage Services, Inc. vs peers in Personal Services (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
ROL Rollins, Inc. $18.5B 35.5× 31.5× +6.19% (above 0%: growing) −2.94% (below 0%: shrinking) +27.60% (above 0%: growing) 53.49% 20.45% Compare
SCI Service Corporation International $10.3B 18.5× 18.7× +4.65% (above 0%: growing) +23.81% (above 0%: growing) +31.02% (above 0%: growing) 24.59% 22.84% Compare
ANDG Andersen Group Inc. $7.5B — — +4.61% (above 0%: growing) n/m +517.12% (above 0%: growing) 20.26% (4.10%) Compare
HRB H&R Block, Inc. $6.7B 9.6× 8.8× +3.05% (above 0%: growing) +4.55% (above 0%: growing) −1.99% (below 0%: shrinking) 51.91% 32.91% Compare
FTDR Frontdoor Inc. $6.6B 23.1× 21.6× +5.99% (above 0%: growing) +16.55% (above 0%: growing) +12.07% (above 0%: growing) 55.27% 0.00% Compare
BFAM Bright Horizons Family Solutions Inc. $2.7B — (loss-making) — (loss-making) +4.82% (above 0%: growing) n/m +40.92% (above 0%: growing) 24.34% (22.24%) Compare
CSV Carriage Services, Inc. $448.0M 9.5× 10.5× −2.42% (below 0%: shrinking) +33.33% (above 0%: growing) +149.08% (above 0%: growing) 31.17% 19.35%
MED MEDIFAST INC $142.4M — (loss-making) — (loss-making) −19.42% (below 0%: shrinking) n/m −73.32% (below 0%: shrinking) 69.45% (26.87%) Compare
RGS Regis Corporation $60.0M 10.2× — (loss-making) −7.84% (below 0%: shrinking) −62.50% (below 0%: shrinking) +11.33% (above 0%: growing) 100.00% 9.76% Compare
Median of peers $6.7B 18.5× 20.2× +4.63% +4.55% +19.84% 52.70% 4.88%

All 13 Personal Services stocks →

Pay and ownership Proxy statement filed 27 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 3.86m 3.97m 144.00
2024 4.29m 7.27m 134.00
2023 4.06m 3.03m 83.00
2022 3.39m (11.18m) 90.00
2021 5.35m 20.95m 208.00

Ownership

Directors and executive officers, together 2.70%
FMR, LLC 13.95%
Vineyard Capital Partners, LLC 6.94%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Carriage Services, Inc. (CSV) Latest News

5 Nov

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27 Feb

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25 Feb

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stockrow.com/CSV · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com