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Security National Financial (SNFCA)
:SNFCA
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Security National Financial
(NASDAQ:SNFCA)
Rating:64Neutral
Price Target:
$10.50
▲(20.41%Upside)
Security National Financial (SNFCA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$205.83M
Dividend YieldN/A
Average Volume (3M)120.52K
Price to Earnings (P/E)9.7
Beta (1Y)1.33
Revenue Growth4.96%
EPS Growth12.43%
CountryUS
Employees1,186
SectorFinancial
Sector Strength75
IndustryFinancial - Mortgages
Share Statistics
EPS (TTM)0.18
Shares Outstanding20,286,630
10 Day Avg. Volume52,031
30 Day Avg. Volume120,516
Financial Highlights & Ratios
PEG Ratio-0.70
Price to Book (P/B)<0.01
Price to Sales (P/S)0.00
P/FCF Ratio0.02
Enterprise Value/Market Cap1.05
Enterprise Value/Revenue0.16
Enterprise Value/Gross Profit0.64
Enterprise Value/Ebitda2.31
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusHold
Number of Analyst Covering0
Security National Financial Business Overview & Revenue Model
Company DescriptionSecurity National Financial Corporation (SNFCA) is a diversified financial services company operating in three primary business segments: life insurance, cemetery and mortuary operations, and mortgage loans. The company provides a range of financial products and services, including life insurance policies, annuities, cemetery plots, funeral and cremation services, as well as mortgage loans. SNFCA caters to a broad customer base, offering solutions designed to meet various financial and end-of-life planning needs.
How the Company Makes MoneySecurity National Financial Corporation generates revenue through its three main business segments. The life insurance segment includes the sale of life insurance policies and annuities, which provide the company with a steady stream of premium income. The cemetery and mortuary operations segment earns revenue from the sale of cemetery plots, mausoleum spaces, and funeral services, which include traditional burial services and cremations. Finally, the mortgage loans segment contributes to revenue through the origination and servicing of mortgage loans, where the company earns interest income and fees associated with loan processing and servicing. Strategic partnerships and acquisitions within these sectors further enhance SNFCA's ability to generate income and expand its market presence.
Security National Financial Earnings Call Summary
Earnings Call Date:May 16, 2025
(Q1-2025)
| % Change Since: -13.32%|
Next Earnings Date:Aug 18, 2025
Earnings Call Sentiment Neutral
The earnings call presented a mixed performance with significant challenges such as decreased earnings and investment income declines due to economic and market factors. However, there were strong operational performances and strategic investments in the insurance, death care, and mortgage segments, indicating potential for future growth.Q1-2025 Updates
Positive Updates
Insurance Segment Performance
The insurance segment had its second-best first quarter out of the last five years, with improved premium margins by several percentage points due to increased premium rates.
Death Care Segment Growth
The death care segment increased families served by 4%, despite a flat to declining mortality climate. Funeral home operations saw a 3.4% revenue growth driven by a 3% rise in total services performed.
Mortgage Segment Improvement
The mortgage segment increased volume by 11% from Q1 2024 to Q1 2025, outperforming the market significantly. The segment was both profitable and cash flow positive in March 2025.
Strategic Investments in Personnel
Personnel costs rose 11.7% due to strategic hiring to augment sales and fulfillment staffs, aiming for future growth.
Bond Portfolio Improvement
There was a $5 million improvement in unrealized losses on the bond portfolio, with its fair value compared to amortized cost being the closest since 2020.
Negative Updates
Significant Decrease in Earnings
After-tax earnings decreased by approximately 42%, or $3.1 million, from $7.475 million in 2024 to $4.338 million in 2025.
Investment Income Decline
A $3 million decrease in pre-tax income was attributed to declines in both realized and unrealized investment income, with $1.7 million due to decreased construction profits and lot sales.
CECL Accounting Impact
Adoption of the CECL accounting standard led to a $900,000 increase in bad debt reserve expense, contributing to the overall decrease in pre-tax income.
Stock Market Declines
A $1.25 million decline in investment income was due to stock market declines, reflecting recognized but unrealized losses.
Funeral Home and Cemetery Earnings Decline
Net earnings before tax from funeral homes and cemeteries declined 27% due to an $828,000 reduction in investment income gains and softer performance in select markets.
Company Guidance
In the first quarter of 2025, Security National Financial Corporation experienced a significant decline in both after-tax and pre-tax earnings, with after-tax earnings decreasing by approximately 42% from $7.475 million in 2024 to $4.338 million in 2025. Pre-tax earnings decreased by 41%, from $9.6 million to $5.571 million. The primary contributors to this decline were a $3 million reduction in investment income, largely due to decreased construction profits and lower gains on residential lot sales, as well as a $1.25 million loss from stock market declines. Additionally, an increase in the bad debt reserve expense, following the adoption of the CECL accounting standard, accounted for $900,000 of the decrease in pre-tax income. Despite these financial challenges, the company achieved operational success, with the insurance segment having its second-best first quarter in five years and the death care segment experiencing a 4% increase in families served. Furthermore, the mortgage segment saw an 11% increase in volume compared to Q1 2024, and an improved product mix, marking a positive performance amidst a challenging economic landscape.Security National Financial Financial Statement Overview
Summary
Security National Financial shows a mixed financial performance. Recent revenue and profit margins indicate improvement, but historical volatility in profitability and cash flow suggests caution. The balance sheet is stable but highlights potential risks with leverage and reliance on liabilities. Despite recent positive trends, the historical inconsistencies warrant careful monitoring.Income Statement
The company shows a fluctuating revenue trend with a significant increase in TTM figures. Gross profit margin remains at 100% due to revenue equating to gross profit, but the net profit margin is volatile, reflecting inconsistent profitability. The EBIT margin has recently improved after previous negative figures, indicating better operational efficiency.65
Positive
Balance Sheet
The balance sheet indicates moderate leverage with a debt-to-equity ratio that has been manageable historically. Stockholders' equity has grown over the years, suggesting some stability, but the equity ratio suggests reliance on liabilities. The return on equity has fluctuated, highlighting varying profitability against equity.58
Neutral
Cash Flow
Cash flow from operations has been inconsistent, with periods of negative cash flow, though recent figures show improvement. The free cash flow has been volatile, impacting the company's ability to reinvest or return capital to shareholders. Ratios involving net income are skewed due to fluctuations in profitability.52
Neutral
| Breakdown | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 334.52M | 318.50M | 389.65M | 468.67M | 481.46M |
| Gross Profit | 334.52M | 318.50M | 389.65M | 470.70M | 481.46M |
| EBITDA | 38.36M | 25.53M | 42.21M | 58.93M | 80.03M |
| Net Income | 26.54M | 14.50M | 25.69M | 39.52M | 55.60M |
Balance Sheet | |||||
| Total Assets | 1.48B | 1.43B | 1.46B | 1.55B | 1.55B |
| Cash, Cash Equivalents and Short-Term Investments | 212.14M | 163.36M | 466.78M | 390.64M | 400.88M |
| Total Debt | 106.74M | 105.56M | 161.71M | 251.29M | 297.82M |
| Total Liabilities | 1.14B | 1.12B | 1.17B | 1.25B | 1.28B |
| Stockholders Equity | 338.78M | 312.90M | 292.79M | 299.77M | 263.99M |
Cash Flow | |||||
| Free Cash Flow | 54.85M | 52.77M | 128.85M | 139.42M | -131.26M |
| Operating Cash Flow | 57.32M | 53.88M | 130.45M | 144.64M | -129.63M |
| Investing Cash Flow | -43.13M | 14.61M | -37.16M | -63.61M | 36.14M |
| Financing Cash Flow | -4.01M | -62.04M | -101.22M | -55.08M | 71.21M |
Security National Financial Technical Analysis
Negative
8.72
Price Trends
9.47
Negative
10.08
Negative
10.52
Negative
Market Momentum
-0.10
Positive
35.91
Neutral
6.03
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SNFCA, the sentiment is Negative. The current price of 8.72 is below the 20-day moving average (MA) of 9.31, below the 50-day MA of 9.47, and below the 200-day MA of 10.52, indicating a bearish trend. The MACD of -0.10 indicates Positive momentum. The RSI at 35.91 is Neutral, neither overbought nor oversold. The STOCH value of 6.03 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SNFCA.
Security National Financial Peers Comparison
Overall Rating
UnderperformOutperform
Sector (68)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $265.56M | 24.44 | 3.32% | 10.57% | -15.60% | -75.87% | |
68 Neutral | $651.37M | 9.28 | 13.62% | ― | 32.62% | 16.91% | |
68 Neutral | $16.73B | 11.75 | 9.79% | 3.76% | 11.87% | -7.97% | |
64 Neutral | $76.81M | 16.91 | 3.69% | ― | ― | -32.53% | |
64 Neutral | $205.83M | 9.71 | 7.02% | ― | 4.96% | 12.43% | |
57 Neutral | $1.23B | 28.57 | 3.71% | 2.52% | 42.92% | 64.72% | |
48 Neutral | $554.25M | ― | -29.48% | ― | 3.76% | 16.19% |
* Financial Sector Average
Performance Comparison
SNFCA
Security National Financial
8.85
1.44
19.43%
GHI
Greystone Housing Impact Investors
11.21
-1.74
-13.44%
LDI
loanDepot
1.64
-0.28
-14.58%
IOR
Income Opportunity Realty Investors
18.50
1.80
10.78%
VEL
Velocity Financial
17.77
-1.22
-6.42%
GHLD
Guild Holdings
19.84
6.23
45.78%
Security National Financial Corporate Events
Executive/Board ChangesShareholder MeetingsBusiness Operations and Strategy
Security National Financial Holds Annual Stockholders Meeting
Neutral
Jul 1, 2025
On June 27, 2025, Security National Financial Corporation held its Annual Meeting of Stockholders in Salt Lake City, Utah, where a quorum was achieved with 19,756,812 shares represented. During the meeting, stockholders approved the election of nine directors, the amendment of the 2022 Equity Incentive Plan to issue additional shares, and the appointment of Deloitte & Touche, LLP as the independent accountants for 2025. These decisions are expected to impact the company’s governance and financial strategies moving forward.
Dividends
Security National Financial Declares 5% Stock Dividend
Positive
Jun 30, 2025
Security National Financial Corporation, a company listed on NASDAQ under the ticker SNFCA, announced a 5% stock dividend for its Class A and Class C common stockholders. This dividend, declared on June 27, 2025, will be issued on July 18, 2025, to stockholders of record as of July 11, 2025. The company has consistently issued stock dividends for 37 years, with the exception of a 7.5% dividend in 2020, highlighting its commitment to providing value to its shareholders.
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.