Carriage Services (CSV)
NYSE:CSV
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Carriage Services
(NYSE:CSV)
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Rating:60Neutral
Price Target:
$48.00
â–¼(-1.34% Downside)
Action:ReiteratedDate:04/01/26
The score is driven primarily by mixed financial quality: historically steady profitability and improved leverage are outweighed by uncertainty from the 2025 revenue/metric disruption and weaker free cash flow. Technicals are supportive with price strength above major moving averages, while valuation is reasonable but not compelling. Earnings call guidance is constructive for 2026, though higher capex and cost/tax headwinds limit upside.
Positive Factors
Preneed & Cemetery Revenue Visibility
Material preneed growth and stronger financial revenue increase visibility into future demand and cash receipts. Preneed contracts convert long-term customer intent into predictable future revenue streams, reducing cyclical exposure and supporting multi-year cash flow stability for burial/cremation services.
Negative Factors
Volatile Free Cash Flow
Sharp FCF volatility and a recent steep decline weaken the company’s ability to self-fund capex, acquisitions and debt repayment. If FCF underperforms earnings persistently, financing needs and reliance on external capital could rise, constraining strategic and shareholder-return options over multiple quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Preneed & Cemetery Revenue Visibility
Material preneed growth and stronger financial revenue increase visibility into future demand and cash receipts. Preneed contracts convert long-term customer intent into predictable future revenue streams, reducing cyclical exposure and supporting multi-year cash flow stability for burial/cremation services.
Read all positive factors
Carriage Services (CSV) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$772.43M
Dividend Yield1.06%
Average Volume (3M)94.92K
Price to Earnings (P/E)12.7
Beta (1Y)0.59
Revenue Growth0.99%
EPS Growth37.55%
CountryUS
Employees1,200
SectorConsumer Cyclical
Sector Strength84
IndustryPersonal Products & Services
Share Statistics
EPS (TTM)0.75
Shares Outstanding15,860,981
10 Day Avg. Volume77,589
30 Day Avg. Volume94,921
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 Cap1.72
Enterprise Value/Revenue3.17
Enterprise Value/Gross Profit9.06
Enterprise Value/Ebitda10.80
Forecast
1Y Price Target
$58.00Price Target Upside19.22% 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:Feb 25, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 06, 2026
Earnings Call Sentiment Positive
The call conveyed a generally positive operational and financial trajectory: solid Q4 revenue and margin expansion, strong cemetery and preneed performance, meaningful EPS gains, improved operating cash and a clearer M&A strategy. Notable near-term headwinds include an unexpected $1.2M employee benefit charge, higher Q4 overhead, stepped-up capex (impacting free cash flow), delayed enterprise system rollout (Trinity) with no near-term guide upside from it, and a tougher Q1 comp. On balance, the positive execution, margin expansion, preneed strength, balance sheet progress, and disciplined growth/M&A focus outweigh the transitory challenges and planned investments.Positive Updates
Quarterly Revenue Growth
Total Q4 2025 revenue of $105.5M, up 8% year-over-year, driven by strong funeral and cemetery performance.
Negative Updates
Employee Benefit Expense Shock
Q4 experienced an unanticipated employee benefit/medical insurance expense of approximately $1.2M, which reduced adjusted EPS by roughly $0.05–$0.06 and partly offset field EBITDA gains.
Read all updates
Q4-2025 Updates
Positive
Negative
Quarterly Revenue Growth
Total Q4 2025 revenue of $105.5M, up 8% year-over-year, driven by strong funeral and cemetery performance.
Read all positive updates
Company Guidance
The company guided 2026 revenue of $440–450 million (about 5.5%–8.0% growth vs $417.4M in 2025), assuming low-single-digit same‑store funeral growth, high‑single-digit cemetery growth and preneed cemetery sales production of 10%–20%; adjusted consolidated EBITDA of $135–140 million (vs $130.7M in 2025) with margins of 30.5%–31.5% (2025: 31.3%); adjusted diluted EPS of $3.35–3.55 (vs $3.20 in 2025, ~5%–11% growth) with an expected full‑year effective tax rate of 28.5%–29.0% (2025: 26.7%); adjusted free cash flow of $40–50 million and total capex of $25–30 million (capex run‑rate guidance going forward); overhead projected at 13.5%–14.5% of revenue (above the 13%–14% long‑term target and 2025’s 13.6%); bank leverage expected to finish the year around 3.9x–4.0x (end‑2025: ~4.0x); guidance assumes the 2025 acquisitions will generate roughly $16M of revenue in 2026 and includes an incremental $5M–$10M of revenue from potential 2026 acquisitions (modeled at roughly average company margins), and management noted Trinity benefits are not assumed in the 2026 guide.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
48.65
Price Trends
44.66
Positive
43.69
Positive
44.08
Positive
Market Momentum
1.18
Negative
66.54
Neutral
63.57
Neutral
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 48.65 is above the 20-day moving average (MA) of 45.95, above the 50-day MA of 44.66, and above the 200-day MA of 44.08, indicating a bullish trend. The MACD of 1.18 indicates Negative momentum. The RSI at 66.54 is Neutral, neither overbought nor oversold. The STOCH value of 63.57 is Neutral, 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
48.37
9.01
22.90%
SCI
Service International
83.71
4.70
5.95%
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.