Carriage Services (CSV) AI Stock Analysis

• Market Cap: $693.26M
• Dividend Yield: 1.06%
• Average Volume (3M): 65.80K
• Price to Earnings (P/E): 14.2
• Beta (1Y): 0.59
• Revenue Growth: 0.99%
• EPS Growth: 37.55%
• Country: US
• Employees: 1,200
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Personal Products & Services
• EPS (TTM): 0.75
• Shares Outstanding: 15,745,193
• 10 Day Avg. Volume: 61,740
• 30 Day Avg. Volume: 65,800
• PEG Ratio: -5.79
• Price to Book (P/B): 2.86
• Price to Sales (P/S): 1.48
• P/FCF Ratio: 16.62
• Enterprise Value/Market Cap: 1.82
• Enterprise Value/Revenue: 3.08
• Enterprise Value/Gross Profit: 8.79
• Enterprise Value/Ebitda: 10.60
• 1Y Price Target: $58.33
• Price Target Upside: 32.63% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): 3.46
• Revenue Forecast (FY): $429.57M

• Rating: 59 Neutral
• Price Target: $46.00 ▲(4.59% Upside)

The score is primarily constrained by weak financial-statement growth signals (notably the sharp TTM revenue decline) and elevated leverage, despite strong margins and stable cash generation. Technicals are moderately supportive with the stock above key moving averages and neutral-to-positive momentum. Valuation appears reasonable (P/E ~14) with a modest dividend, and the latest earnings call was constructive with reaffirmed guidance and EBITDA/margin improvement.

Positive Factors

Revenue Growth

The increase in total operating revenue, driven by preneed cemetery sales, indicates a positive trend in revenue growth, enhancing the company's market position and financial stability.

Cemetery Segment Performance

Strong performance in the cemetery segment suggests robust demand and effective management, contributing to long-term revenue stability and growth potential.

Acquisition Activity

Strategic acquisitions expand service offerings and geographic reach, strengthening competitive advantage and supporting sustained growth.

Negative Factors

Revenue Decline

The drastic drop in revenue growth poses a significant risk to long-term financial health, potentially affecting profitability and market confidence.

High Leverage

High leverage could strain financial flexibility and increase risk, potentially impacting the company's ability to invest in growth opportunities.

Funeral Operating Revenue Decline

Decline in funeral operating revenue indicates potential challenges in maintaining market share and could affect overall revenue stability.

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 of consultation, funeral home facilities for visitation and memorial services, and transportation services; removal and preparation of remains; and sale of burial and cremation services, and related merchandise, such as caskets and urns. The Cemetery Operations segment provides interment rights for grave sites, lawn crypts, mausoleum spaces, and niche; related cemetery merchandise, including outer burial containers, memorial markers, monuments, and floral placements; and interments, inurnments, and installation of cemetery merchandise services. As of December 31, 2021, it operated 170 funeral homes in 26 states and 31 cemeteries in 11 states. Carriage Services, Inc. was founded in 1991 and is based in Houston, Texas.

How the Company Makes Money

Carriage Services generates revenue primarily through its funeral and cemetery operations. The key revenue streams include service fees for funerals and cremations, sales of burial plots and niches in cemeteries, and the sale of related merchandise such as caskets, urns, and memorial products. The company also earns income through pre-need funeral contracts, which involve selling funeral services and merchandise in advance of need, providing a reliable cash flow. Additionally, strategic acquisitions of funeral homes and cemeteries enhance its market presence and revenue potential. Partnerships with insurance companies and financial institutions for pre-need funding options can also contribute to its earnings.

Carriage Services Financial Statement Overview

Summary

Carriage Services faces challenges with a significant decline in revenue growth, impacting its income statement performance. The balance sheet reveals high leverage, which could pose financial risks, although the company demonstrates strong return on equity. Cash flow metrics are stable, with positive free cash flow growth. Overall, while there are strengths in profitability and cash flow, the revenue decline and high leverage are key areas of concern.

Income Statement

Carriage Services has experienced a significant decline in revenue growth, with a TTM revenue growth rate of -69.28%. Despite this, the company maintains a healthy gross profit margin of 35.06% and a net profit margin of 12.85% in the TTM period. The EBIT and EBITDA margins are also strong at 24.87% and 30.64%, respectively. However, the drastic drop in revenue growth is a major concern.

Balance Sheet

The company has a high debt-to-equity ratio of 2.29 in the TTM period, indicating significant leverage. Return on equity is robust at 24.22%, suggesting efficient use of equity to generate profits. The equity ratio stands at 18.02%, showing a moderate level of equity financing relative to total assets. The high leverage poses a risk, but strong ROE is a positive aspect.

Cash Flow

Carriage Services shows a positive free cash flow growth of 4.71% in the TTM period, indicating improved cash generation. The operating cash flow to net income ratio is 1.07, and the free cash flow to net income ratio is 0.71, reflecting adequate cash flow relative to net income. The cash flow situation is stable, with room for improvement in cash flow efficiency.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	409.57M	404.20M	382.52M	370.17M	375.89M	329.45M
Gross Profit	143.58M	143.39M	124.30M	119.23M	129.52M	105.92M
EBITDA	118.95M	81.80M	103.94M	103.04M	91.57M	78.06M
Net Income	48.99M	32.95M	33.41M	41.38M	33.16M	16.09M
Balance Sheet
Total Assets	1.34B	1.28B	1.27B	1.19B	1.18B	1.15B
Cash, Cash Equivalents and Short-Term Investments	1.25M	1.17M	1.52M	1.17M	1.15M	889.00K
Total Debt	561.92M	560.87M	604.63M	612.75M	578.93M	478.32M
Total Liabilities	1.10B	1.07B	1.09B	1.06B	1.05B	905.32M
Stockholders Equity	242.08M	208.55M	173.06M	137.13M	128.01M	240.50M
Cash Flow
Free Cash Flow	-17.75M	35.90M	13.05M	34.94M	59.36M	67.72M
Operating Cash Flow	55.85M	52.00M	75.59M	61.02M	84.25M	82.92M
Investing Cash Flow	-36.25M	-3.64M	-57.00M	-52.49M	-12.54M	-34.42M
Financing Cash Flow	-19.61M	-48.72M	-18.23M	-8.51M	-71.45M	-48.32M

Carriage Services Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 43.98
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: 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 43.98 is above the 20-day moving average (MA) of 42.97, above the 50-day MA of 42.51, and above the 200-day MA of 43.34, indicating a bullish trend. The MACD of 0.29 indicates Negative momentum. The RSI at 57.74 is Neutral, neither overbought nor oversold. The STOCH value of 78.24 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CSV.

Carriage Services Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SCI	67 Neutral	$11.51B	22.14	33.48%	1.66%	3.41%	7.94%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
CSV	59 Neutral	$693.26M	14.15	21.96%	1.06%	0.99%	37.55%

Carriage Services Corporate Events

Carriage Services announces major executive leadership realignment

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 Chief Operating Officer with responsibility for operations, sales, marketing and M&A, without any new compensatory arrangements. The company also hired industry veteran Rene Negrete as Vice President of Operations and promoted Sam A. Mazzu III to Vice President, General Counsel and Secretary, Christine Ngo to Vice President of Human Resources and Alfred White to Vice President of Marketing, while expanding CFO John Enwright’s remit to include IT and supply chain, moves that concentrate leadership around governance, culture, brand and operational execution to underpin purposeful growth and sustained value creation.

The most recent analyst rating on (CSV) stock is a Buy with a $60.00 price target. To see the full list of analyst forecasts on Carriage Services stock, see the CSV Stock Forecast page.