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CARRIAGE SERVICES INC

CSV Clue Score59
United States Fiscal year ends December CIK 0001016281
$34.46 +2.29% Close, 12 Oct 2026
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Price $34.46 −24.46% Close, 12 Oct 2026

Closing prices at the end of each trading day, from 13 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue248.2Operating income50.2Net income19.6EPS, diluted1.12Fiscal year 2017Revenue258.1 +4.0%Operating income48.9Net income37.2 +89.9%EPS, diluted2.09 +86.6%Fiscal year 2018Revenue268.0 +3.8%Operating income42.1Net income11.6 −68.7%EPS, diluted0.63 −69.9%Fiscal year 2019Revenue274.1 +2.3%Operating income47.4Net income14.5 +24.8%EPS, diluted0.80 +27.0%Fiscal year 2020Revenue329.4 +20.2%Operating income57.2Net income16.1 +10.7%EPS, diluted0.89 +11.3%Fiscal year 2021Revenue375.9 +14.1%Operating income93.7Net income33.2 +106.1%EPS, diluted1.81 +103.4%Fiscal year 2022Revenue370.2 −1.5%Operating income79.7Net income41.4 +24.8%EPS, diluted2.63 +45.3%Fiscal year 2023Revenue382.5 +3.3%Operating income81.0Net income33.4 −19.3%EPS, diluted2.14 −18.6%Fiscal year 2024Revenue404.2 +5.7%Operating income81.8Net income33.0 −1.4%EPS, diluted2.10 −1.9%Fiscal year 2025Revenue417.4 +3.3%Operating income97.7Net income51.5 +56.3%EPS, diluted3.25 +54.8%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 248.2 258.1 268.0 274.1 329.4 375.9 370.2 382.5 404.2 417.4
Growth +4.0% +3.8% +2.3% +20.2% +14.1% −1.5% +3.3% +5.7% +3.3%
Operating income 50.2 48.9 42.1 47.4 57.2 93.7 79.7 81.0 81.8 97.7
Net income 19.6 37.2 11.6 14.5 16.1 33.2 41.4 33.4 33.0 51.5
Growth +89.9% −68.7% +24.8% +10.7% +106.1% +24.8% −19.3% −1.4% +56.3%
EPS, diluted 1.12 2.09 0.63 0.80 0.89 1.81 2.63 2.14 2.10 3.25
Growth +86.6% −69.9% +27.0% +11.3% +103.4% +45.3% −18.6% −1.9% +54.8%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin32.1%Operating margin20.2%Net margin7.9%Free cash flow margin13.4%Fiscal year 2017Gross margin29.8%Operating margin19.0%Net margin14.4%Free cash flow margin11.2%Fiscal year 2018Gross margin28.3%Operating margin15.7%Net margin4.3%Free cash flow margin13.2%Fiscal year 2019Gross margin29.0%Operating margin17.3%Net margin5.3%Free cash flow margin10.2%Fiscal year 2020Gross margin32.2%Operating margin17.4%Net margin4.9%Free cash flow margin20.6%Fiscal year 2021Gross margin34.5%Operating margin24.9%Net margin8.8%Free cash flow margin15.8%Fiscal year 2022Gross margin32.2%Operating margin21.5%Net margin11.2%Free cash flow margin9.4%Fiscal year 2023Gross margin32.5%Operating margin21.2%Net margin8.7%Free cash flow margin15.0%Fiscal year 2024Gross margin35.5%Operating margin20.2%Net margin8.2%Free cash flow margin8.9%Fiscal year 2025Gross margin35.1%Operating margin23.4%Net margin12.3%Free cash flow margin9.6%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 32.1% 29.8% 28.3% 29.0% 32.2% 34.5% 32.2% 32.5% 35.5% 35.1%
Operating margin 20.2% 19.0% 15.7% 17.3% 17.4% 24.9% 21.5% 21.2% 20.2% 23.4%
Net margin 7.9% 14.4% 4.3% 5.3% 4.9% 8.8% 11.2% 8.7% 8.2% 12.3%
Free cash flow margin 13.4% 11.2% 13.2% 10.2% 20.6% 15.8% 9.4% 15.0% 8.9% 9.6%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow50.0Capital expenditure−16.8Free cash flow33.2Buybacks0.0Dividends paid−2.5Fiscal year 2017Operating cash flow45.2Capital expenditure−16.4Free cash flow28.8 −13.1%Buybacks−16.4Dividends paid−3.7Fiscal year 2018Operating cash flow49.0Capital expenditure−13.5Free cash flow35.5 +23.0%Buybacks−16.3Dividends paid−5.5Fiscal year 2019Operating cash flow43.2Capital expenditure−15.4Free cash flow27.8 −21.5%Buybacks−9.2Dividends paid−5.4Fiscal year 2020Operating cash flow82.9Capital expenditure−15.2Free cash flow67.7 +143.3%Buybacks0.0Dividends paid−6.0Fiscal year 2021Operating cash flow84.2Capital expenditure−24.9Free cash flow59.4 −12.3%Buybacks−140.0Dividends paid−7.3Fiscal year 2022Operating cash flow61.0Capital expenditure−26.1Free cash flow34.9 −41.1%Buybacks−36.7Dividends paid−6.8Fiscal year 2023Operating cash flow75.6Capital expenditure−18.0Free cash flow57.6 +64.7%Buybacks0.0Dividends paid−6.7Fiscal year 2024Operating cash flow52.0Capital expenditure−16.1Free cash flow35.9 −37.6%Buybacks0.0Dividends paid−6.8Fiscal year 2025Operating cash flow60.7Capital expenditure−20.6Free cash flow40.1 +11.6%Dividends paid−7.0
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 50.0 45.2 49.0 43.2 82.9 84.2 61.0 75.6 52.0 60.7
Capital expenditure −16.8 −16.4 −13.5 −15.4 −15.2 −24.9 −26.1 −18.0 −16.1 −20.6
Free cash flow 33.2 28.8 35.5 27.8 67.7 59.4 34.9 57.6 35.9 40.1
Growth −13.1% +23.0% −21.5% +143.3% −12.3% −41.1% +64.7% −37.6% +11.6%
Buybacks 0.0 −16.4 −16.3 −9.2 0.0 −140.0 −36.7 0.0 0.0 n/a
Dividends paid −2.5 −3.7 −5.5 −5.4 −6.0 −7.3 −6.8 −6.7 −6.8 −7.0

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash1.0Total debt217.4Net cash (debt)−216.5Shareholders’ equity175.7Debt to equity1.24Fiscal year 2017Cash1.0Total debt229.1Net cash (debt)−228.1Shareholders’ equity197.7Debt to equity1.16Fiscal year 2018Cash0.6Total debt35.1Net cash (debt)−34.4Shareholders’ equity221.5Debt to equity0.16Fiscal year 2019Cash0.7Total debt7.0Net cash (debt)−6.2Shareholders’ equity226.6Debt to equity0.03Fiscal year 2020Cash0.9Total debt5.5Net cash (debt)−4.6Shareholders’ equity240.5Debt to equity0.02Fiscal year 2021Cash1.1Total debt4.5Net cash (debt)−3.4Shareholders’ equity128.0Debt to equity0.04Fiscal year 2022Cash1.2Total debt4.0Net cash (debt)−2.8Shareholders’ equity137.1Debt to equity0.03Fiscal year 2023Cash1.5Total debt6.0Net cash (debt)−4.5Shareholders’ equity173.1Debt to equity0.03Fiscal year 2024Cash1.2Total debt5.5Net cash (debt)−4.3Shareholders’ equity208.6Debt to equity0.03Fiscal year 2025Cash1.7Total debt6.2Net cash (debt)−4.5Shareholders’ equity254.8Debt to equity0.02
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 1.0 1.0 0.6 0.7 0.9 1.1 1.2 1.5 1.2 1.7
Total debt 217.4 229.1 35.1 7.0 5.5 4.5 4.0 6.0 5.5 6.2
Net cash (debt) −216.5 −228.1 −34.4 −6.2 −4.6 −3.4 −2.8 −4.5 −4.3 −4.5
Shareholders’ equity 175.7 197.7 221.5 226.6 240.5 128.0 137.1 173.1 208.6 254.8
Debt to equity 1.24 1.16 0.16 0.03 0.02 0.04 0.03 0.03 0.03 0.02

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
248.2 258.1 268.0 274.1 329.4 375.9 370.2 382.5 404.2 417.4
Growth +4.0% +3.8% +2.3% +20.2% +14.1% −1.5% +3.3% +5.7% +3.3%
168.6 181.3 192.0 194.5 223.5 246.4 250.9 258.2 260.8 270.8
79.7 76.8 75.9 79.6 105.9 129.5 119.2 124.3 143.4 146.7
Growth −3.6% −1.1% +4.8% +33.1% +22.3% −7.9% +4.3% +15.4% +2.3%
27.9 26.3 30.8 25.9 27.3 35.2 37.5 42.1 59.0 48.6
50.2 48.9 42.1 47.4 57.2 93.7 79.7 81.0 81.8 97.7
Growth −2.5% −14.0% +12.7% +20.6% +63.7% −14.9% +1.6% +1.0% +19.4%
32.2 32.8 18.3 22.4 24.6 44.3 57.2 46.4 50.1 70.3
12.7 13.1 5.8 7.4 8.0 12.3 16.2 13.0 17.1 18.8
19.6 37.2 11.6 14.5 16.1 33.2 41.4 33.4 33.0 51.5
Growth +89.9% −68.7% +24.8% +10.7% +106.1% +24.8% −19.3% −1.4% +56.3%
Per share
1.18 2.25 0.64 0.81 0.90 1.90 2.78 2.24 2.17 3.29
1.12 2.09 0.63 0.80 0.89 1.81 2.63 2.14 2.10 3.25
Growth +86.6% −69.9% +27.0% +11.3% +103.4% +45.3% −18.6% −1.9% +54.8%
16.5 16.4 18.0 17.9 17.9 17.4 14.9 14.8 15.0 15.4
17.5 17.7 18.4 18.0 18.1 18.3 15.7 15.5 15.4 15.6
Growth +1.5% +3.7% −2.0% +0.4% +1.0% −14.0% −1.6% −0.1% +1.2%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 4.8% a year over five years, and earnings per share grew 29.6% a year.
  • The diluted share count fell 13.5% in five years, so buybacks did some of the work per share.
  • Operating margin is up 6.0 points on five years ago, at 23.4%.
  • Profitable in every one of the 10 years on file.