CSVNYSEServices-Personal ServicesFiscal year ends December 31
CARRIAGE SERVICES INC
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$35.09−1.11 (-3.07%)
Close on Oct 19, 2026
- Market cap
- $555.90M
- P/E (TTM)
- 12.5
- Dividend yield
- 1.28%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
35.1%+3.0 pts over 5 years
Operating margin
23.4%+6.0 pts over 5 years
Net margin
12.3%+7.5 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +3.3% | +4.1% | +4.8% | +5.6% | |
| Gross profit | +2.3% | +7.2% | +6.7% | +6.6% | |
| Operating income | +19.4% | +7.0% | +11.3% | +7.2% | |
| Net income | +56.3% | +7.6% | +26.2% | +9.5% | |
| EPS, diluted | +54.8% | +7.3% | +29.6% | +11.2% | |
| Free cash flow | +11.6% | +4.7% | -10.0% | +6.3% | |
| Dividend per share | 0.0% | 0.0% | +5.9% | +16.2% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 11.7% | 6.9% | 22.2% | |
| Return on assets | 2.2% | 1.4% | 3.9% | |
| Current ratio | 0.74 | 0.73 | 0.98 | |
| Debt to equity | 1.24 | 0.02 | 0.02 | |
| Net debt to EBITDA | 3.30× | 0.06× | 0.04× | |
| Interest coverage | 4.3× | 1.8× | 3.4× | |
| Inventory turnover | 28.6× | 31.4× | 34.5× | |
| Capex to revenue | 6.8% | 4.6% | 4.9% | |
| Diluted shares | 17M | 18M | 16M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Carriage Services generated $333.55M from operations and spent $317.00M on capital expenditure, dividends and share buybacks. 33% of that went back into the business.
Generated
$333.55M
Used
$317.00M
Capital expenditure$105.73M33%Dividends$34.57M11%Share buybacks$176.70M56%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin12.3%
×Asset turnover0.32×
×Equity multiplier5.67×
=Return on equity, FY202522.2%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 12.3% | 0.32× | 5.67× | 22.2% |
| FY2024 | 8.2% | 0.32× | 6.68× | 17.3% |
| FY2023 | 8.7% | 0.31× | 7.93× | 21.5% |
| FY2022 | 11.2% | 0.31× | 8.94× | 31.2% |
| FY2021 | 8.8% | 0.32× | 6.40× | 18.0% |
| FY2020 | 4.9% | 0.28× | 4.98× | 6.9% |
| FY2019 | 5.3% | 0.24× | 5.08× | 6.5% |
| FY2018 | 4.3% | 0.26× | 4.88× | 5.6% |
| FY2017 | 14.4% | 0.28× | 4.93× | 19.9% |
| FY2016 | 7.9% | 0.28× | 5.26× | 11.7% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$51.51M
- Cash generatingOperating cash flow above zero$60.69M
- Return on assets improvedROA up on the prior year2.6% → 4.0%
- Earnings backed by cashOperating cash flow above net income$60.69M vs $51.51M
- Less leverageLong-term debt to assets fell0.4% → 0.4%
- Better liquidityCurrent ratio rose0.77 → 0.98
- No dilutionShare count did not rise15M → 16M
- Gross margin improvedGross margin up on the prior year35.48% → 35.14%
- More efficientAsset turnover rose0.32 → 0.33