Carriage Services (CSV)
NYSE:CSV
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Carriage Services
(NYSE:CSV)
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Rating:57Neutral
Price Target:
$46.00
â–²(3.09% Upside)
Action:ReiteratedDate:03/27/26
The score is driven primarily by financial performance: steady historical profitability and improved leverage are offset by the significant 2025 revenue decline and weaker free-cash-flow coverage. Technicals are mixed (neutral momentum with a negative MACD and price slightly below the 200-day), while valuation is supportive with a moderate P/E and a small dividend yield.
Positive Factors
Improved leverage and ROE
Material deleveraging over recent years meaningfully improves financial flexibility and lowers interest burden, enabling the company to better absorb shocks, pursue targeted acquisitions, or invest in operations while maintaining attractive returns on equity that support long‑term shareholder value.
Negative Factors
Severe 2025 revenue decline
A near‑total revenue decline in the latest annual period is a fundamental red flag for sustainable demand, revenue recognition or business continuity. Such a dramatic fall undermines forward cash flow visibility, complicates budgeting, debt servicing and long‑term strategic planning.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved leverage and ROE
Material deleveraging over recent years meaningfully improves financial flexibility and lowers interest burden, enabling the company to better absorb shocks, pursue targeted acquisitions, or invest in operations while maintaining attractive returns on equity that support long‑term shareholder value.
Read all positive factors
Carriage Services (CSV) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$706.13M
Dividend Yield1.06%
Average Volume (3M)93.02K
Price to Earnings (P/E)13.4
Beta (1Y)0.62
Revenue Growth0.99%
EPS Growth37.55%
CountryUS
Employees1,200
SectorConsumer Cyclical
Sector Strength84
IndustryPersonal Products & Services
Share Statistics
EPS (TTM)0.75
Shares Outstanding15,751,228
10 Day Avg. Volume112,784
30 Day Avg. Volume93,016
Financial Highlights & Ratios
PEG Ratio0.25
Price to Book (P/B)2.56
Price to Sales (P/S)1.56
P/FCF Ratio16.29
Enterprise Value/Market Cap1.79
Enterprise Value/Revenue3.04
Enterprise Value/Gross Profit8.66
Enterprise Value/Ebitda10.33
Forecast
1Y Price Target
$58.00Price Target Upside29.99% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)3.43
Revenue Forecast (FY)$443.62M
Carriage Services Business Overview & Revenue Model
Company Description
Carriage Services, Inc. provides funeral and cemetery services, and merchandise in the United States. It operates through two segments, Funeral Home Operations and Cemetery Operations. The Funeral Home Operations segment engages in the provision o...
How the Company Makes Money
Carriage Services makes money primarily by selling deathcare services and merchandise through two operating segments: Funeral Home Operations and Cemetery Operations.
1) Funeral Home Operations revenue
- At-need services: Revenue is generated whe...
Carriage Services Earnings Call Summary
Earnings Call Date:Nov 05, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:May 06, 2026
Earnings Call Sentiment Positive
The earnings call reflects a strong financial performance with significant revenue and EBITDA growth, strategic acquisitions, and debt reduction, positioning the company well for future growth. However, challenges such as a decline in funeral operating revenue, negative impacts from divestitures, and increased capital expenditures were noted.Positive Updates
Revenue Growth
Total operating revenue for the quarter grew to $101.3 million, an increase of 5.2% over the same period last year, driven by a 21.4% year-over-year increase in preneed cemetery sales.
Negative Updates
Funeral Operating Revenue Decline
Funeral operating revenue was down $753,000 or 1.3%, primarily driven by a 2.1% reduction in funeral volume during the summer months of July and August.
Read all updates
Q3-2025 Updates
Positive
Negative
Revenue Growth
Total operating revenue for the quarter grew to $101.3 million, an increase of 5.2% over the same period last year, driven by a 21.4% year-over-year increase in preneed cemetery sales.
Read all positive updates
Company Guidance
During Carriage Services' third quarter 2025 earnings call, the company reported a total operating revenue increase of 5.2% year-over-year, reaching $101.3 million. This was largely driven by a significant 21.4% rise in preneed cemetery sales. Despite a slight 1.3% decline in funeral operating revenue due to a 2.1% reduction in funeral volume, the cemetery segment experienced a robust 12.6% growth, generating $35.6 million in operating revenue. Insurance-funded prearranged funeral sales also saw impressive growth, with general agency commission revenue climbing by 61% to $2.6 million. The company achieved a quarterly adjusted consolidated EBITDA of $33 million, marking a 7.3% increase over the previous year, and an adjusted consolidated EBITDA margin expansion of 160 basis points to 32.1%. Adjusted diluted earnings per share rose by 17.2% to $0.75. The company reaffirmed its guidance for the fiscal year, projecting revenues between $413 million and $417 million and an adjusted consolidated EBITDA between $130 million and $132 million.Carriage Services Financial Statement Overview
Summary
Income Statement
52
Neutral
Balance Sheet
58
Neutral
Cash Flow
55
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 417.44M | 404.20M | 382.52M | 370.17M | 375.89M |
| Gross Profit | 147.56M | 143.39M | 124.30M | 119.23M | 129.52M |
| EBITDA | 124.34M | 81.80M | 103.94M | 103.04M | 91.57M |
| Net Income | 51.51M | 32.95M | 33.41M | 41.38M | 33.16M |
Balance Sheet | |||||
| Total Assets | 1.35B | 1.28B | 1.27B | 1.19B | 1.18B |
| Cash, Cash Equivalents and Short-Term Investments | 1.69M | 1.17M | 1.52M | 1.17M | 1.15M |
| Total Debt | 563.05M | 560.87M | 604.63M | 612.75M | 578.93M |
| Total Liabilities | 1.09B | 1.07B | 1.09B | 1.06B | 1.05B |
| Stockholders Equity | 254.78M | 208.55M | 173.06M | 137.13M | 128.01M |
Cash Flow | |||||
| Free Cash Flow | 40.06M | 35.90M | 13.05M | 34.94M | 59.36M |
| Operating Cash Flow | 60.69M | 52.00M | 75.59M | 61.02M | 84.25M |
| Investing Cash Flow | -35.17M | -3.64M | -57.00M | -52.49M | -12.54M |
| Financing Cash Flow | -25.00M | -48.72M | -18.23M | -8.51M | -71.45M |
Carriage Services Technical Analysis
Positive
44.62
Price Trends
43.52
Positive
42.95
Positive
43.90
Positive
Market Momentum
0.02
Negative
58.78
Neutral
88.68
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CSV, the sentiment is Positive. The current price of 44.62 is above the 20-day moving average (MA) of 43.32, above the 50-day MA of 43.52, and above the 200-day MA of 43.90, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 58.78 is Neutral, neither overbought nor oversold. The STOCH value of 88.68 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CSV.
Carriage Services Risk Analysis
Carriage Services disclosed 12 risk factors in its most recent earnings report. Carriage Services reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Carriage Services Peers Comparison
UnderperformOutperform
Sector (61)
CSV
Carriage Services
44.83
6.48
16.90%
SCI
Service International
81.54
2.67
3.38%
Carriage Services Corporate Events
Business Operations and StrategyExecutive/Board Changes
Carriage Services announces major executive leadership realignment
Positive
Jan 16, 2026
On January 16, 2026, Carriage Services announced a broad realignment of its executive team, effective February 2, 2026, to support its 2030 Vision and long-term growth strategy, highlighted by the promotion of Steven D. Metzger to President and Ch...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.