Carriage Services (CSV) Financials

$42.14 -0.03 (-0.07%)

Closing price 05/23/2025 03:59 PM Eastern

Extended Trading

$42.16 +0.02 (+0.05%)

As of 05/23/2025 04:04 PM Eastern

Annual Income Statements for Carriage Services

This table shows Carriage Services' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Net Income / (Loss) Attributable to Common Shareholders	34	33	41
Consolidated Net Income / (Loss)	34	33	41
Net Income / (Loss) Continuing Operations	33	33	41
Total Pre-Tax Income	50	46	57
Total Operating Income	82	81	80
Total Gross Profit	143	124	119
Total Revenue	404	383	370
Operating Revenue	404	383	370
Total Cost of Revenue	261	258	251
Operating Cost of Revenue	261	258	251
Total Operating Expenses	62	43	40
Selling, General & Admin Expense	59	42	37
Impairment Charge	2.58	1.19	2.03
Total Other Income / (Expense), net	-32	-35	-23
Interest Expense	32	36	26
Other Income / (Expense), net	0.36	1.72	3.36
Income Tax Expense	16	13	16
Basic Earnings per Share	$2.17	$2.24	$2.78
Weighted Average Basic Shares Outstanding	14.97M	14.80M	14.86M
Diluted Earnings per Share	$2.10	$2.14	$2.63
Weighted Average Diluted Shares Outstanding	15.44M	15.46M	15.71M
Weighted Average Basic & Diluted Shares Outstanding	15.65M	15.14M	14.89M
Cash Dividends to Common per Share	$0.45	$0.45	$0.45

This table shows Carriage Services' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	11	9.87	6.26	6.97	12	4.65	8.29	8.84	7.79	5.86
Consolidated Net Income / (Loss)	11	9.87	6.26	6.97	12	4.65	8.29	8.84	7.79	5.86
Net Income / (Loss) Continuing Operations	9.57	9.92	6.26	7.20	12	4.72	8.29	8.78	8.23	5.86
Total Pre-Tax Income	14	15	10	11	16	6.78	12	12	12	8.64
Total Operating Income	21	23	18	19	24	16	21	21	20	15
Total Gross Profit	34	35	37	37	35	27	31	31	31	26
Total Revenue	98	101	102	103	99	90	98	96	94	87
Operating Revenue	98	101	102	103	99	90	98	96	94	87
Total Cost of Revenue	64	65	65	66	64	63	66	64	62	62
Operating Cost of Revenue	64	65	65	66	64	63	66	64	62	62
Total Operating Expenses	13	13	19	18	11	12	10	10	12	10
Selling, General & Admin Expense	12	12	19	16	10	11	10	10	9.35	10
Impairment Charge	0.63	0.39	0.02	1.55	0.26	0.42	0.27	0.24	2.46	-0.01
Total Other Income / (Expense), net	-6.95	-8.10	-7.91	-8.76	-8.38	-8.91	-9.04	-8.22	-8.17	-6.72
Interest Expense	7.00	8.04	8.32	8.71	9.05	9.28	9.40	8.54	7.69	6.68
Other Income / (Expense), net	0.05	-0.07	0.41	-0.04	0.67	0.37	0.36	0.32	-0.49	-0.04
Income Tax Expense	3.43	4.93	4.20	3.52	4.14	2.06	3.42	3.57	3.67	2.64
Weighted Average Basic Shares Outstanding	14.97M	15.01M	14.97M	14.88M	14.80M	14.82M	14.79M	14.76M	14.86M	14.69M
Weighted Average Diluted Shares Outstanding	15.44M	15.49M	15.40M	15.31M	15.46M	15.51M	15.45M	15.47M	15.71M	15.54M
Weighted Average Basic & Diluted Shares Outstanding	15.65M	15.22M	15.21M	15.17M	15.14M	14.98M	14.97M	14.93M	14.89M	14.71M
Cash Dividends to Common per Share	$0.11	$0.11	$0.11	$0.11	$0.11	$0.11	$0.11	$0.11	$0.11	$0.11

This table details how cash moves in and out of Carriage Services' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Net Change in Cash & Equivalents	-0.36	0.35	0.02
Net Cash From Operating Activities	52	76	61
Net Cash From Continuing Operating Activities	52	76	61
Net Income / (Loss) Continuing Operations	33	33	41
Consolidated Net Income / (Loss)	33	33	41
Depreciation Expense	23	21	20
Amortization Expense	1.98	2.10	1.84
Non-Cash Adjustments To Reconcile Net Income	14	9.93	-9.82
Changes in Operating Assets and Liabilities, net	-20	9.03	7.82
Net Cash From Investing Activities	-3.64	-57	-52
Net Cash From Continuing Investing Activities	-3.64	-57	-52
Purchase of Property, Plant & Equipment	-16	-18	-26
Acquisitions	0.00	-45	-34
Sale of Property, Plant & Equipment	12	4.13	5.03
Other Investing Activities, net	0.40	1.40	2.44
Net Cash From Financing Activities	-49	-18	-8.51
Net Cash From Continuing Financing Activities	-49	-18	-8.51
Repayment of Debt	-99	-98	-120
Repurchase of Common Equity	0.00	0.00	-37
Payment of Dividends	-6.81	-6.71	-6.76
Issuance of Debt	55	86	155
Issuance of Common Equity	2.63	1.49	1.75
Other Financing Activities, net	-0.59	-1.42	-2.13

This table details how cash moves in and out of Carriage Services' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-0.10	-0.24	-0.19	0.17	-0.15	0.71	-0.32	0.12	0.35	-0.24
Net Cash From Operating Activities	9.28	21	2.16	20	14	23	13	26	11	20
Net Cash From Continuing Operating Activities	9.28	21	2.16	20	14	23	13	26	11	20
Net Income / (Loss) Continuing Operations	9.86	9.87	6.26	6.97	12	4.65	8.29	8.84	8.22	5.86
Consolidated Net Income / (Loss)	9.86	9.87	6.26	6.97	12	4.65	8.29	8.84	8.22	5.86
Depreciation Expense	5.62	5.61	6.20	5.46	5.49	5.19	5.67	4.77	5.19	4.72
Amortization Expense	0.07	0.62	0.65	0.64	0.21	0.64	0.63	0.62	0.12	0.59
Non-Cash Adjustments To Reconcile Net Income	12	6.25	8.19	-12	-5.45	-1.35	8.55	8.18	-0.39	0.64
Changes in Operating Assets and Liabilities, net	-18	-1.49	-19	19	1.85	14	-9.82	3.46	-2.15	8.07
Net Cash From Investing Activities	-4.35	-3.68	-2.98	7.37	-3.62	-3.49	-2.61	-47	-30	-13
Net Cash From Continuing Investing Activities	-4.35	-3.68	-2.98	7.37	-3.62	-3.49	-2.61	-47	-30	-13
Purchase of Property, Plant & Equipment	-4.39	-4.61	-3.55	-3.55	-4.97	-4.11	-3.98	-4.98	-5.74	-6.88
Net Cash From Financing Activities	-5.03	-17	0.64	-27	-10	-18	-11	22	19	-7.59
Net Cash From Continuing Financing Activities	-5.03	-17	0.64	-27	-10	-18	-11	22	19	-7.59
Repayment of Debt	-27	-23	-10	-39	-26	-20	-22	-29	-18	-23
Payment of Dividends	-1.71	-1.71	-1.70	-1.69	-1.69	-1.68	-1.68	-1.66	-1.66	-1.65
Issuance of Debt	23	7.30	11	14	18	3.40	13	52	41	17
Issuance of Common Equity	0.45	0.24	1.60	0.35	0.29	0.28	0.40	0.53	0.31	0.38
Other Financing Activities, net	0.30	-0.47	-0.00	-0.42	-0.68	-0.37	-0.28	-0.10	-1.84	-0.00

This table presents Carriage Services' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Total Assets	1,280	1,268	1,193
Total Current Assets	45	42	38
Cash & Equivalents	1.17	1.52	1.17
Accounts Receivable	30	27	24
Inventories, net	7.92	8.35	7.61
Prepaid Expenses	4.12	4.79	4.73
Other Current Assets	1.14	0.00	-
Plant, Property, & Equipment, net	273	287	278
Total Noncurrent Assets	962	939	877
Noncurrent Note & Lease Receivables	51	36	27
Goodwill	415	424	410
Other Noncurrent Operating Assets	477	480	440
Other Noncurrent Nonoperating Assets	19	0.00	-
Total Liabilities & Shareholders' Equity	1,280	1,268	1,193
Total Liabilities	1,071	1,095	1,056
Total Current Liabilities	58	51	45
Short-Term Debt	3.91	3.84	3.17
Accounts Payable	15	12	12
Accrued Expenses	38	35	31
Other Current Nonoperating Liabilities	0.24	0.00	-
Total Noncurrent Liabilities	1,013	1,044	1,010
Long-Term Debt	537	579	588
Capital Lease Obligations	20	22	22
Noncurrent Deferred & Payable Income Tax Liabilities	51	52	49
Other Noncurrent Operating Liabilities	391	391	352
Other Noncurrent Nonoperating Liabilities	14	0.00	-
Commitments & Contingencies	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	209	173	137
Total Preferred & Common Equity	209	173	137
Total Common Equity	209	173	137
Common Stock	244	242	239
Retained Earnings	243	210	177
Treasury Stock	-279	-279	-279

This table presents Carriage Services' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	1,275	1,269	1,261	1,255	1,242	1,225	1,147
Total Current Assets	44	43	40	40	38	44	36
Cash & Equivalents	1.26	1.50	1.69	1.68	0.97	1.29	0.82
Accounts Receivable	31	29	27	26	25	24	23
Inventories, net	8.23	8.26	8.25	9.09	8.45	9.53	7.68
Prepaid Expenses	3.20	3.97	3.91	4.03	3.61	8.99	4.13
Plant, Property, & Equipment, net	280	280	282	288	288	289	276
Total Noncurrent Assets	952	946	938	927	917	892	835
Noncurrent Note & Lease Receivables	50	46	37	34	33	27	26
Goodwill	415	415	415	424	424	424	394
Other Noncurrent Operating Assets	487	485	486	469	460	442	416
Total Liabilities & Shareholders' Equity	1,275	1,269	1,261	1,255	1,242	1,225	1,147
Total Liabilities	1,077	1,081	1,081	1,094	1,086	1,078	1,018
Total Current Liabilities	60	51	56	53	43	50	50
Short-Term Debt	4.02	3.92	3.95	3.81	3.57	3.46	3.10
Accounts Payable	15	16	13	12	9.40	11	9.33
Accrued Expenses	41	31	39	38	30	35	37
Total Noncurrent Liabilities	1,017	1,031	1,025	1,041	1,043	1,028	969
Long-Term Debt	535	550	549	582	598	607	562
Capital Lease Obligations	21	21	21	22	21	22	22
Noncurrent Deferred & Payable Income Tax Liabilities	50	51	50	49	49	49	47
Other Noncurrent Operating Liabilities	411	409	405	388	375	350	336
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	198	188	180	161	156	147	129
Total Preferred & Common Equity	198	188	180	161	156	147	129
Total Common Equity	198	188	180	161	156	147	129
Common Stock	244	243	241	241	241	240	239
Retained Earnings	233	223	217	199	194	186	169
Treasury Stock	-279	-279	-279	-279	-279	-279	-279

This table displays calculated financial ratios and metrics derived from Carriage Services' official financial filings.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Growth Metrics	-	-	-
Revenue Growth	5.67%	3.34%	-1.52%
EBITDA Growth	1.05%	1.13%	13.67%
EBIT Growth	-0.65%	-0.47%	19.13%
NOPAT Growth	-4.22%	1.57%	-15.59%
Net Income Growth	1.76%	-18.41%	28.02%
EPS Growth	-1.87%	-18.63%	45.30%
Operating Cash Flow Growth	-31.21%	23.87%	-27.56%
Free Cash Flow Firm Growth	125.46%	115.39%	-82.23%
Invested Capital Growth	-1.71%	3.67%	6.08%
Revenue Q/Q Growth	-0.28%	1.30%	-0.54%
EBITDA Q/Q Growth	-3.17%	5.85%	23.43%
EBIT Q/Q Growth	-4.07%	7.06%	31.13%
NOPAT Q/Q Growth	-2.79%	7.56%	-5.38%
Net Income Q/Q Growth	-2.12%	13.02%	-9.67%
EPS Q/Q Growth	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	-7.90%	3.79%	-5.53%
Free Cash Flow Firm Q/Q Growth	0.87%	1,065.42%	-40.23%
Invested Capital Q/Q Growth	0.86%	1.13%	4.54%
Profitability Metrics	-	-	-
Gross Margin	35.48%	32.49%	32.21%
EBITDA Margin	26.48%	27.69%	28.29%
Operating Margin	20.24%	21.17%	21.54%
EBIT Margin	20.33%	21.62%	22.45%
Profit (Net Income) Margin	8.41%	8.74%	11.06%
Tax Burden Percent	67.89%	71.97%	71.60%
Interest Burden Percent	60.96%	56.14%	68.83%
Effective Tax Rate	32.11%	28.40%	28.40%
Return on Invested Capital (ROIC)	7.22%	7.60%	7.85%
ROIC Less NNEP Spread (ROIC-NNEP)	3.50%	3.56%	5.14%
Return on Net Nonoperating Assets (RNNOA)	10.60%	13.94%	23.04%
Return on Equity (ROE)	17.82%	21.54%	30.89%
Cash Return on Invested Capital (CROIC)	8.94%	4.00%	1.95%
Operating Return on Assets (OROA)	6.45%	6.72%	7.01%
Return on Assets (ROA)	2.67%	2.72%	3.45%
Return on Common Equity (ROCE)	17.82%	21.54%	30.89%
Return on Equity Simple (ROE_SIMPLE)	16.30%	19.31%	29.86%
Net Operating Profit after Tax (NOPAT)	56	58	57
NOPAT Margin	13.74%	15.16%	15.42%
Net Nonoperating Expense Percent (NNEP)	3.72%	4.05%	2.71%
Return On Investment Capital (ROIC_SIMPLE)	7.22%	7.46%	7.61%
Cost of Revenue to Revenue	64.52%	67.51%	67.79%
SG&A Expenses to Revenue	14.60%	11.01%	10.12%
R&D to Revenue	0.00%	0.00%	0.00%
Operating Expenses to Revenue	15.24%	11.32%	10.67%
Earnings before Interest and Taxes (EBIT)	82	83	83
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	107	106	105
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	2.90	2.13	2.86
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.50	0.96	1.06
Price to Earnings (P/E)	17.79	11.01	9.56
Dividend Yield	1.13%	1.83%	1.69%
Earnings Yield	5.62%	9.08%	10.46%
Enterprise Value to Invested Capital (EV/IC)	1.53	1.25	1.34
Enterprise Value to Revenue (EV/Rev)	2.88	2.54	2.71
Enterprise Value to EBITDA (EV/EBITDA)	10.88	9.17	9.58
Enterprise Value to EBIT (EV/EBIT)	14.18	11.74	12.07
Enterprise Value to NOPAT (EV/NOPAT)	20.97	16.75	17.57
Enterprise Value to Operating Cash Flow (EV/OCF)	22.40	12.85	16.44
Enterprise Value to Free Cash Flow (EV/FCFF)	16.92	31.81	70.78
Leverage & Solvency	-	-	-
Debt to Equity	2.69	3.49	4.47
Long-Term Debt to Equity	2.67	3.47	4.45
Financial Leverage	3.03	3.92	4.49
Leverage Ratio	6.68	7.93	8.94
Compound Leverage Factor	4.07	4.45	6.16
Debt to Total Capital	72.90%	77.75%	81.71%
Short-Term Debt to Total Capital	0.51%	0.49%	0.42%
Long-Term Debt to Total Capital	72.39%	77.25%	81.29%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%
Common Equity to Total Capital	27.10%	22.25%	18.29%
Debt to EBITDA	5.24	5.71	5.85
Net Debt to EBITDA	5.23	5.69	5.84
Long-Term Debt to EBITDA	5.20	5.67	5.82
Debt to NOPAT	10.10	10.43	10.73
Net Debt to NOPAT	10.08	10.40	10.71
Long-Term Debt to NOPAT	10.03	10.36	10.68
Altman Z-Score	1.12	0.94	0.96
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-
Current Ratio	0.77	0.82	0.84
Quick Ratio	0.54	0.56	0.56
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	69	31	14
Operating Cash Flow to CapEx	1,286.71%	543.54%	289.85%
Free Cash Flow to Firm to Interest Expense	2.15	0.84	0.55
Operating Cash Flow to Interest Expense	1.62	2.08	2.36
Operating Cash Flow Less CapEx to Interest Expense	1.50	1.70	1.54
Efficiency Ratios	-	-	-
Asset Turnover	0.32	0.31	0.31
Accounts Receivable Turnover	14.12	14.85	14.87
Inventory Turnover	32.07	32.36	33.55
Fixed Asset Turnover	1.44	1.35	1.35
Accounts Payable Turnover	19.11	21.94	19.39
Days Sales Outstanding (DSO)	25.85	24.58	24.54
Days Inventory Outstanding (DIO)	11.38	11.28	10.88
Days Payable Outstanding (DPO)	19.10	16.64	18.82
Cash Conversion Cycle (CCC)	18.14	19.22	16.60
Capital & Investment Metrics	-	-	-
Invested Capital	763	776	749
Invested Capital Turnover	0.53	0.50	0.51
Increase / (Decrease) in Invested Capital	-13	27	43
Enterprise Value (EV)	1,165	971	1,003
Market Capitalization	605	368	392
Book Value per Share	$13.70	$11.55	$9.32
Tangible Book Value per Share	($13.55)	($16.73)	($18.55)
Total Capital	769	778	750
Total Debt	561	605	613
Total Long-Term Debt	557	601	610
Net Debt	560	603	612
Capital Expenditures (CapEx)	4.04	14	21
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-11	-7.03	-5.49
Debt-free Net Working Capital (DFNWC)	-9.59	-5.51	-4.32
Net Working Capital (NWC)	-14	-9.35	-7.49
Net Nonoperating Expense (NNE)	22	25	16
Net Nonoperating Obligations (NNO)	554	603	612
Total Depreciation and Amortization (D&A)	25	23	22
Debt-free, Cash-free Net Working Capital to Revenue	-2.66%	-1.84%	-1.48%
Debt-free Net Working Capital to Revenue	-2.37%	-1.44%	-1.17%
Net Working Capital to Revenue	-3.34%	-2.44%	-2.02%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	$2.17	$2.24	$2.78
Adjusted Weighted Average Basic Shares Outstanding	14.97M	14.80M	14.86M
Adjusted Diluted Earnings per Share	$2.10	$2.14	$2.63
Adjusted Weighted Average Diluted Shares Outstanding	15.44M	15.46M	15.71M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	15.65M	15.14M	14.89M
Normalized Net Operating Profit after Tax (NOPAT)	57	59	59
Normalized NOPAT Margin	14.17%	15.38%	15.81%
Pre Tax Income Margin	12.39%	12.14%	15.45%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	2.56	2.28	3.21
NOPAT to Interest Expense	1.73	1.60	2.20
EBIT Less CapEx to Interest Expense	2.44	1.90	2.40
NOPAT Less CapEx to Interest Expense	1.61	1.22	1.39
Payout Ratios	-	-	-
Dividend Payout Ratio	20.02%	20.08%	16.51%
Augmented Payout Ratio	20.02%	20.08%	106.04%

This table displays calculated financial ratios and metrics derived from Carriage Services' official financial filings.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-1.15%	11.26%	4.75%	8.35%	5.24%	3.43%	7.81%	-2.70%	-2.10%	-7.94%
EBITDA Growth	-11.56%	32.84%	-6.43%	-3.07%	23.93%	6.80%	2.21%	-20.16%	435.27%	-28.75%
EBIT Growth	-14.17%	42.21%	-10.97%	-7.24%	28.47%	5.77%	-0.11%	-24.22%	3,389.00%	-34.71%
NOPAT Growth	-9.41%	40.04%	-25.14%	-10.81%	29.10%	3.33%	3.40%	-20.58%	-19.66%	-36.71%
Net Income Growth	-6.32%	112.40%	-24.46%	-21.16%	49.40%	-20.73%	-23.97%	-46.08%	-36.02%	-55.08%
EPS Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Growth	-32.46%	-7.97%	-83.80%	-23.84%	25.17%	14.06%	-7.36%	63.72%	-24.53%	-29.69%
Free Cash Flow Firm Growth	395.33%	165.38%	159.33%	177.47%	66.26%	-54.94%	-435.16%	-363.26%	-200.80%	-150.67%
Invested Capital Growth	-1.71%	-1.45%	-2.19%	-3.41%	3.67%	7.16%	8.65%	9.24%	6.08%	5.39%
Revenue Q/Q Growth	-2.97%	-1.59%	-1.14%	4.71%	9.22%	-7.35%	2.27%	1.70%	7.34%	-3.42%
EBITDA Q/Q Growth	-7.81%	13.38%	0.39%	-15.92%	38.47%	-20.14%	4.00%	7.76%	19.33%	-23.57%
EBIT Q/Q Growth	-7.55%	21.55%	-3.35%	-21.21%	53.18%	-23.91%	0.70%	9.45%	26.12%	-28.14%
NOPAT Q/Q Growth	4.06%	39.14%	-15.99%	-25.52%	60.86%	-25.62%	0.09%	7.80%	28.74%	-25.57%
Net Income Q/Q Growth	10.51%	57.63%	-10.24%	-40.08%	150.55%	-43.94%	-6.31%	13.53%	32.94%	-46.23%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	-55.50%	866.90%	-89.05%	43.39%	-39.37%	70.16%	-48.52%	135.64%	-44.75%	38.21%
Free Cash Flow Firm Q/Q Growth	10.65%	-5.92%	-29.29%	996.19%	75.50%	14.63%	7.65%	-74.73%	-12.48%	-194.85%
Invested Capital Q/Q Growth	0.86%	-0.62%	1.20%	-2.42%	1.13%	-1.37%	-0.06%	4.00%	4.54%	0.00%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	34.44%	35.25%	36.15%	36.00%	35.03%	30.29%	31.94%	32.51%	33.47%	29.26%
EBITDA Margin	27.42%	28.86%	25.05%	24.67%	30.65%	24.18%	28.05%	27.58%	26.03%	23.41%
Operating Margin	21.55%	22.74%	17.95%	18.82%	24.20%	17.33%	21.23%	21.60%	20.90%	17.40%
EBIT Margin	21.60%	22.68%	18.36%	18.78%	24.88%	17.74%	21.60%	21.94%	20.38%	17.35%
Profit (Net Income) Margin	11.16%	9.80%	6.12%	6.74%	11.78%	5.13%	8.48%	9.26%	8.29%	6.70%
Tax Burden Percent	77.60%	66.44%	59.84%	65.03%	74.58%	68.55%	70.81%	71.63%	65.18%	67.83%
Interest Burden Percent	66.57%	65.04%	55.68%	55.17%	63.46%	42.21%	55.47%	58.93%	62.43%	56.92%
Effective Tax Rate	24.41%	33.20%	40.16%	32.82%	26.56%	30.37%	29.19%	28.90%	30.67%	30.56%
Return on Invested Capital (ROIC)	8.56%	8.08%	5.52%	6.45%	8.92%	6.14%	7.54%	7.57%	7.38%	6.44%
ROIC Less NNEP Spread (ROIC-NNEP)	7.69%	7.15%	4.72%	5.44%	7.94%	5.09%	6.48%	6.62%	6.40%	5.57%
Return on Net Nonoperating Assets (RNNOA)	23.33%	23.16%	16.41%	20.03%	31.10%	20.94%	28.24%	30.33%	28.70%	18.61%
Return on Equity (ROE)	31.88%	31.24%	21.93%	26.48%	40.02%	27.08%	35.78%	37.90%	36.07%	25.05%
Cash Return on Invested Capital (CROIC)	8.94%	8.95%	9.06%	10.84%	4.00%	0.35%	-1.13%	-1.71%	1.95%	3.40%
Operating Return on Assets (OROA)	6.86%	7.26%	5.78%	5.90%	7.74%	5.58%	6.76%	6.70%	6.36%	5.59%
Return on Assets (ROA)	3.54%	3.14%	1.93%	2.12%	3.66%	1.61%	2.66%	2.83%	2.59%	2.16%
Return on Common Equity (ROCE)	31.88%	31.24%	21.93%	26.48%	40.02%	27.08%	35.78%	37.90%	36.07%	25.05%
Return on Equity Simple (ROE_SIMPLE)	0.00%	17.53%	15.71%	17.57%	0.00%	18.33%	19.71%	22.69%	0.00%	35.17%
Net Operating Profit after Tax (NOPAT)	16	15	11	13	18	11	15	15	14	11
NOPAT Margin	16.29%	15.19%	10.74%	12.64%	17.78%	12.07%	15.03%	15.36%	14.49%	12.08%
Net Nonoperating Expense Percent (NNEP)	0.87%	0.93%	0.79%	1.02%	0.98%	1.05%	1.05%	0.95%	0.98%	0.88%
Return On Investment Capital (ROIC_SIMPLE)	2.07%	-	-	-	2.26%	-	-	-	1.81%	-
Cost of Revenue to Revenue	65.56%	64.75%	63.85%	64.00%	64.97%	69.71%	68.06%	67.49%	66.53%	70.74%
SG&A Expenses to Revenue	12.25%	12.12%	18.18%	15.69%	10.57%	12.49%	10.44%	10.66%	9.95%	11.87%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	12.89%	12.51%	18.20%	17.18%	10.83%	12.96%	10.71%	10.91%	12.58%	11.86%
Earnings before Interest and Taxes (EBIT)	21	23	19	19	25	16	21	21	19	15
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	27	29	26	26	30	22	27	26	24	20
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.90	2.52	2.16	2.26	2.13	2.58	3.04	3.01	2.86	3.55
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.50	1.23	1.03	1.04	0.96	1.10	1.27	1.21	1.06	1.23
Price to Earnings (P/E)	17.79	14.37	13.74	12.88	11.01	14.05	15.43	13.27	9.56	10.08
Dividend Yield	1.13%	1.37%	1.68%	1.68%	1.83%	1.62%	1.42%	1.51%	1.69%	1.45%
Earnings Yield	5.62%	6.96%	7.28%	7.77%	9.08%	7.12%	6.48%	7.54%	10.46%	9.92%
Enterprise Value to Invested Capital (EV/IC)	1.53	1.40	1.29	1.30	1.25	1.33	1.41	1.38	1.34	1.46
Enterprise Value to Revenue (EV/Rev)	2.88	2.61	2.48	2.51	2.54	2.71	2.93	2.92	2.71	2.81
Enterprise Value to EBITDA (EV/EBITDA)	10.88	9.57	9.47	9.31	9.17	10.21	11.12	10.96	9.58	12.31
Enterprise Value to EBIT (EV/EBIT)	14.18	12.35	12.41	12.06	11.74	13.23	14.36	14.07	12.07	16.48
Enterprise Value to NOPAT (EV/NOPAT)	20.97	18.51	18.57	17.35	16.75	18.95	20.49	20.23	17.57	17.31
Enterprise Value to Operating Cash Flow (EV/OCF)	22.40	18.73	16.80	14.10	12.85	14.03	15.66	15.12	16.44	16.17
Enterprise Value to Free Cash Flow (EV/FCFF)	16.92	15.50	14.03	11.79	31.81	390.07	0.00	0.00	70.78	44.05
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.69	2.82	3.06	3.20	3.49	3.77	3.99	4.30	4.47	4.56
Long-Term Debt to Equity	2.67	2.80	3.04	3.18	3.47	3.75	3.97	4.28	4.45	4.54
Financial Leverage	3.03	3.24	3.47	3.69	3.92	4.11	4.36	4.58	4.49	3.34
Leverage Ratio	6.68	7.04	7.30	7.61	7.93	8.28	8.58	9.00	8.94	7.19
Compound Leverage Factor	4.44	4.58	4.06	4.20	5.03	3.49	4.76	5.31	5.58	4.09
Debt to Total Capital	72.90%	73.85%	75.36%	76.18%	77.75%	79.03%	79.96%	81.13%	81.71%	82.02%
Short-Term Debt to Total Capital	0.51%	0.53%	0.51%	0.52%	0.49%	0.50%	0.46%	0.44%	0.42%	0.43%
Long-Term Debt to Total Capital	72.39%	73.32%	74.85%	75.65%	77.25%	78.54%	79.50%	80.69%	81.29%	81.59%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	27.10%	26.15%	24.64%	23.82%	22.25%	20.97%	20.04%	18.87%	18.29%	17.98%
Debt to EBITDA	5.24	5.06	5.56	5.46	5.71	6.07	6.31	6.45	5.85	6.93
Net Debt to EBITDA	5.23	5.05	5.55	5.45	5.69	6.06	6.30	6.44	5.84	6.92
Long-Term Debt to EBITDA	5.20	5.03	5.52	5.43	5.67	6.04	6.28	6.42	5.82	6.89
Debt to NOPAT	10.10	9.79	10.91	10.18	10.43	11.28	11.64	11.91	10.73	9.75
Net Debt to NOPAT	10.08	9.77	10.88	10.15	10.40	11.25	11.62	11.89	10.71	9.73
Long-Term Debt to NOPAT	10.03	9.72	10.83	10.11	10.36	11.21	11.57	11.84	10.68	9.70
Altman Z-Score	0.96	0.90	0.82	0.81	0.79	0.78	0.83	0.81	0.79	0.83
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.77	0.72	0.85	0.72	0.82	0.76	0.89	0.88	0.84	0.73
Quick Ratio	0.54	0.53	0.61	0.50	0.56	0.51	0.60	0.51	0.56	0.49
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	29	26	28	40	-9.89	-40	-47	-51	-29	-26
Operating Cash Flow to CapEx	211.49%	452.02%	60.85%	554.86%	276.48%	551.52%	334.79%	519.25%	191.42%	288.88%
Free Cash Flow to Firm to Interest Expense	4.17	3.28	3.37	4.55	-1.09	-4.35	-5.03	-6.00	-3.81	-3.90
Operating Cash Flow to Interest Expense	1.33	2.60	0.26	2.26	1.52	2.44	1.42	3.03	1.43	2.98
Operating Cash Flow Less CapEx to Interest Expense	0.70	2.02	-0.17	1.85	0.97	2.00	0.99	2.45	0.68	1.95
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.32	0.32	0.31	0.31	0.31	0.31	0.31	0.31	0.31	0.32
Accounts Receivable Turnover	14.12	14.36	14.62	15.48	14.85	15.45	15.31	14.86	14.87	15.02
Inventory Turnover	32.07	30.14	30.99	29.24	32.36	30.60	31.73	29.31	33.55	33.49
Fixed Asset Turnover	1.44	1.43	1.39	1.37	1.35	1.34	1.34	1.31	1.35	1.37
Accounts Payable Turnover	19.11	19.61	20.24	21.53	21.94	24.57	27.65	20.14	19.39	21.15
Days Sales Outstanding (DSO)	25.85	25.41	24.96	23.57	24.58	23.62	23.85	24.56	24.54	24.30
Days Inventory Outstanding (DIO)	11.38	12.11	11.78	12.48	11.28	11.93	11.50	12.45	10.88	10.90
Days Payable Outstanding (DPO)	19.10	18.61	18.04	16.96	16.64	14.86	13.20	18.13	18.82	17.26
Cash Conversion Cycle (CCC)	18.14	18.91	18.70	19.10	19.22	20.69	22.15	18.89	16.60	17.94
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	763	756	761	752	776	767	778	779	749	716
Invested Capital Turnover	0.53	0.53	0.51	0.51	0.50	0.51	0.50	0.49	0.51	0.53
Increase / (Decrease) in Invested Capital	-13	-11	-17	-27	27	51	62	66	43	37
Enterprise Value (EV)	1,165	1,058	979	979	971	1,022	1,097	1,075	1,003	1,044
Market Capitalization	605	499	406	406	368	415	475	443	392	457
Book Value per Share	$13.70	$13.03	$12.39	$11.86	$11.55	$10.78	$10.46	$9.88	$9.32	$8.77
Tangible Book Value per Share	($13.55)	($14.25)	($14.97)	($15.54)	($16.73)	($17.53)	($17.91)	($18.57)	($18.55)	($18.02)
Total Capital	769	758	763	754	778	769	779	780	750	717
Total Debt	561	559	575	574	605	608	623	633	613	588
Total Long-Term Debt	557	555	571	570	601	604	619	629	610	585
Net Debt	560	558	573	573	603	606	622	631	612	587
Capital Expenditures (CapEx)	4.39	4.61	3.55	3.55	4.97	4.11	3.98	4.98	5.74	6.88
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-11	-14	-5.22	-13	-7.03	-11	-2.27	-3.93	-5.49	-11
Debt-free Net Working Capital (DFNWC)	-9.59	-13	-3.71	-12	-5.51	-9.22	-1.30	-2.64	-4.32	-10
Net Working Capital (NWC)	-14	-17	-7.64	-16	-9.35	-13	-4.87	-6.09	-7.49	-14
Net Nonoperating Expense (NNE)	5.01	5.43	4.73	6.11	5.93	6.28	6.40	5.83	5.82	4.71
Net Nonoperating Obligations (NNO)	554	558	573	573	603	606	622	631	612	587
Total Depreciation and Amortization (D&A)	5.69	6.23	6.85	6.10	5.70	5.83	6.30	5.39	5.30	5.31
Debt-free, Cash-free Net Working Capital to Revenue	-2.66%	-3.41%	-1.32%	-3.43%	-1.84%	-2.88%	-0.61%	-1.07%	-1.48%	-3.03%
Debt-free Net Working Capital to Revenue	-2.37%	-3.10%	-0.94%	-3.00%	-1.44%	-2.44%	-0.35%	-0.72%	-1.17%	-2.81%
Net Working Capital to Revenue	-3.34%	-4.09%	-1.93%	-4.01%	-2.44%	-3.45%	-1.30%	-1.66%	-2.02%	-3.65%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic Shares Outstanding	14.97M	15.01M	14.97M	14.88M	14.80M	14.82M	14.79M	14.76M	14.86M	14.69M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	15.44M	15.49M	15.40M	15.31M	15.46M	15.51M	15.45M	15.47M	15.71M	15.54M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	15.65M	15.22M	15.21M	15.17M	15.14M	14.98M	14.97M	14.93M	14.89M	14.71M
Normalized Net Operating Profit after Tax (NOPAT)	16	16	11	14	18	11	15	15	15	11
Normalized NOPAT Margin	16.77%	15.45%	10.76%	13.65%	17.97%	12.39%	15.23%	15.54%	16.31%	12.08%
Pre Tax Income Margin	14.38%	14.75%	10.22%	10.36%	15.79%	7.49%	11.98%	12.93%	12.73%	9.87%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.01	2.84	2.26	2.23	2.72	1.73	2.25	2.45	2.49	2.27
NOPAT to Interest Expense	2.27	1.90	1.32	1.50	1.94	1.18	1.56	1.72	1.77	1.58
EBIT Less CapEx to Interest Expense	2.39	2.27	1.83	1.82	2.17	1.29	1.82	1.87	1.74	1.24
NOPAT Less CapEx to Interest Expense	1.65	1.33	0.89	1.09	1.39	0.73	1.14	1.13	1.02	0.55
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	20.02%	19.53%	22.90%	21.35%	20.08%	22.59%	21.60%	20.06%	16.51%	15.40%
Augmented Payout Ratio	20.02%	19.53%	22.90%	21.35%	20.08%	22.59%	21.60%	20.06%	106.04%	268.98%

Frequently Asked Questions About Carriage Services' Financials

When does Carriage Services's financial year end?

According to the most recent income statement we have on file, Carriage Services' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Carriage Services' net income changed over the last 2 years?

Carriage Services' net income appears to be on a downward trend, with a most recent value of $34.00 million in 2024, falling from $40.95 million in 2022. The previous period was $33.41 million in 2023. See where experts think Carriage Services is headed by visiting Carriage Services' forecast page.

What is Carriage Services's operating income?

Carriage Services's total operating income in 2024 was $81.80 million, based on the following breakdown:

Total Gross Profit: $143.39 million
Total Operating Expenses: $61.59 million

How has Carriage Services revenue changed over the last 2 years?

Over the last 2 years, Carriage Services' total revenue changed from $370.17 million in 2022 to $404.20 million in 2024, a change of 9.2%.

How much debt does Carriage Services have?

Carriage Services' total liabilities were at $1.07 billion at the end of 2024, a 2.2% decrease from 2023, and a 1.4% increase since 2022.

How much cash does Carriage Services have?

In the past 2 years, Carriage Services' cash and equivalents has ranged from $1.17 million in 2024 to $1.52 million in 2023, and is currently $1.17 million as of their latest financial filing in 2024.

How has Carriage Services' book value per share changed over the last 2 years?

Over the last 2 years, Carriage Services' book value per share changed from 9.32 in 2022 to 13.70 in 2024, a change of 47.0%.

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This page (NYSE:CSV) was last updated on 5/24/2025 by MarketBeat.com Staff

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Carriage Services (CSV) Financials

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Carriage Services (CSV) Financials

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