# Carriage Services, Inc. (CSV)

> Source: Nexqual · https://nexqual.com/CSV · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Carriage Services, Inc. (CSV), nexqual.com/CSV" · informational, not investment advice.

**Price:** USD 36.98 (+3.64% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 35.68 · day 35.76–37.1 · 52w 30.11–52.1 · market cap $587M · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $417M, net income $44.6M (10.7% margin), free cash flow $37.4M (SEC filings).
- Valuation: P/E 13.2x (avg 14.4x at the last 3 fiscal year-ends), EV/EBITDA 10.1x, net debt $523M.
- Analysts: Buy (mean 1.60 on a 1–5 scale) (5 analysts), mean target USD 51 (range 42–65).
- Total return with dividends: 1Y -17.3% vs S&P 500 +14.9%; 5Y -10.7% vs S&P 500 +80.3%.
- Next earnings: 2026-11-04, EPS estimate USD 0.79, revenue estimate $109M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $376M | $370M | $383M | $404M | $417M | $417M |
| Gross profit | $130M | $119M | $124M | $143M | $147M | — |
| Operating income | $93.7M | $79.7M | $81.0M | $81.8M | $97.7M | $91.3M |
| Net income | $33.2M | $41.4M | $33.4M | $33.0M | $51.5M | $44.6M |
| EPS (diluted) | $1.81 | $2.63 | $2.14 | $2.10 | $3.25 | — |
| Free cash flow | $59.4M | $34.9M | $57.6M | $35.9M | $40.1M | $37.4M |
| Gross margin | 34.5% | 32.2% | 32.5% | 35.5% | 35.1% | — |
| Operating margin | 24.9% | 21.5% | 21.2% | 20.2% | 23.4% | 21.9% |
| Net margin | 8.8% | 11.2% | 8.7% | 8.2% | 12.3% | 10.7% |
| Revenue growth | +14.1% | -1.5% | +3.3% | +5.7% | +3.3% | — |
| Cash + short-term investments | $1.1M | $1.2M | $1.5M | $1.2M | $1.7M | — |
| Total debt | $4.5M | $4.0M | $6.0M | $5.5M | $528M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 13.2x · P/S 1.4x · EV/EBITDA 10.1x · EV/Sales 2.7x · P/FCF 15.7x · P/B 2.1x · FCF yield 6.37% · Earnings yield 7.59% · Dividend yield (paid, TTM) 1.21% · Net debt $523M · EV $1.11B
P/E at fiscal year-ends: Dec 2025 12.8x, Dec 2024 18.7x, Dec 2023 11.6x.

## Analysts
Consensus Buy (mean 1.60 on a 1–5 scale), 5 analysts; mean target USD 51 (low 42, high 65).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-08-13 | Oppenheimer | Initiated | Outperform | $48 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -17.3% | -10.7% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -17.4% | -2.2% |
| Volatility (annualized) | 30.6% | 35.5% |
| Max drawdown | -40.7% (Apr 2026→Sep 2026) | -66.5% (Dec 2021→Nov 2023) |

## Peers (Personal Services)
ANDG (Andersen Group Inc.) USD 63.54 +4.30% · BFAM (Bright Horizons Family Solution) USD 70.94 +6.01% · FTDR (frontdoor, inc.) USD 86.03 +6.41% · HRB (H&R Block, Inc.) USD 50.08 +4.70% · SCI (Service Corporation Internation) USD 83.69 +3.12% · ROL (Rollins, Inc.) USD 35.31 +5.56%

## More
Full page: https://nexqual.com/CSV · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Funeral Home | $65.7M | 63.8% | +0.7% |
| Cemetery | $37.3M | 36.2% | +1.0% |
| Total revenue | $102.9M | 100% | — |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Property and merchandise revenue | $47.1M | 45.8% | +1.4% |
| Service revenue | $45.6M | 44.3% | -1.9% |
| Services | $40.4M | 39.3% | -2.2% |
| Merchandise | $17.9M | 17.4% | -1.9% |
| Other revenue | $10.2M | 9.9% | +11.7% |
| Total revenue | $102.9M | 100% | — |
The lines above cover 156.7% of total revenue.

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.79 | $0.87 | -8.8% | $109.5M | 5 |
| Next quarter (ends 2026-12-31) | $0.90 | $0.90 | -0.2% | $114.5M | 4 |
| Current fiscal year (ends 2026-12-31) | $3.34 | $3.45 | -3.1% | $433.2M | 5 |
| Next fiscal year (ends 2027-12-31) | $3.64 | $3.76 | -3.3% | $455.0M | 5 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-12-18 (includes earnings 2026-11-04): ±13.5%; last 8 reports averaged ±5.7%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-12-18 | 56 | 42.9% | ±13.5% |
| 2027-01-15 | 84 | 31.4% | ±12.2% |
| 2027-04-16 | 175 | 35.6% | ±19.2% |