StoneMor Inc.

NYSE:STON Lagerbericht

Marktkapitalisierung: US$419.2m

This company has been acquired

The company may no longer be operating, as it has been acquired. Find out why through their latest events.

StoneMor Management

Management Kriterienprüfungen 4/4

Wichtige Informationen

Joe Redling

Geschäftsführender

US$1.8m

Gesamtvergütung

Prozentsatz des Geschäftsführergehalts40.89%
Amtszeit als Geschäftsführer4.3yrs
Eigentum des Geschäftsführers1.4%
Durchschnittliche Amtszeit des Managements3.2yrs
Durchschnittliche Amtszeit der Vorstandsmitglieder3.4yrs

Jüngste Management Updates

Recent updates

Seeking Alpha • Sep 15

StoneMor Really Needs That Outside Capital

Summary StoneMor Inc. is in some sort of discussion with Axar Capital. Whether it be a take-private or some sort of roll-up, we don't know. While a roll-up would make a lot of sense in the fragmented U.S. death-care industry, investors might have some concerns while they wait for a deal. StoneMor has very high rate loans and their leverage situation could be described as nearing untenable. While the economics of death care are very good, StoneMor has a current problem that their cemetery-focused businesses need to get a good return on capital on care trusts. With markets being tough right now, shareholders deal with an uncertain situation where a good buyout is the only lever of return and bankruptcy is otherwise a risk. StoneMor Inc. (STON) is yet another business in the death industry on which we've been expanding our coverage. It is more focused on cemetery operations than some of its peers, and that presents a little bit of a problem for them in the current market. Since returns on investments from selling interment rights are important for the long-term revenues of the business, and cemetery revenues are exposed to inflation pressure, we worry about StoneMor's debt situation. They are in talks with a financial sponsor for some sort of transaction, but nothing has been decided yet and all parties could walk away. Shareholders appear to be in a position where a deal must happen otherwise the equity in this business could suffer a lot due to debt pressure, and indeed at maturity in 2029 collapse entirely. STON has excellent economics in theory, and can probably turn the ship around. It is discounted with respect to some closer comps, so there is an upside here, but the risks are absolute. While mitigating factors are saving them, the situation is really ambiguous, and with an abyss below, we don't walk these tightropes. The Challenges Let's first discuss economics. StoneMor's primarily business is in cemetery operations. There's about a 4:3:3 split between selling interment rights, services and merchandise. There are two dynamics which are saving StoneMor right now. Services and merchandise are often sold on a preneed basis, i.e., before a death has occurred. That cash flow is essential for servicing debt, and is why the operating cash flow figures are just about positive while net income is in the deep negative. Deferred revenues save them here. The other element is that when selling interment rights, the cost of servicing those interred remains are not payable immediately, as the plot is maintained on an ongoing basis. Therefore, selling interment rights provides an excellent upfront cash flow that helps service debt. Indeed, the debt situation is very severe. They have about $400 million in gross debt, and the interest expense is about $40 million a year, implying the 10% rate that would honestly be consistent with the risks from leverage here. Net debt is a bit lower at $320 million, but the problem still remains. We mentioned earlier that a lot of cash comes upfront for StoneMor. Especially for interment sales, this means that a lot of cash ends up in trusts that need to invest the money so that there's more to distribute back into the working capital of the businesses, and indeed the pockets of shareholders over time. If investment performance is weak, then there's less distributions in the long-term for the company from those interment sales, which are partially deferred using these trusts and all that associated accounting. The economics aren't so different from pension plans with defined benefits. The problem is that performance is probably going to be pretty weak. 2022 revenues were $70.5 million for the second quarter of 2022, compared with $72.1 million for the second quarter of 2021, a 2.3% decline, which was primarily driven by the decrease in investment and other income. Jeff DiGiovanni, STON CFO And if it's really weak, there's even a risk that the company has to pay into the trust to cover the statutory obligations for covering interred remains. State laws play into this, and it creates some hidden leverage that is contingent on poor investment performance. You might see how things could be complicated...
Seeking Alpha • May 12

StoneMor: Only A Catalyst Can Generate Value For Investors

StoneMor's fundamental condition has improved lately, but the overall health of the business remains mediocre. Relative to other players in this space, shares also look quite pricey and upside is likely very limited. Only a catalyst, which might be in the works, can result in some real value creation for its investors if fundamentals don't continue to improve.
Seeking Alpha • Dec 22

StoneMor: Resurrection Of Graveyard Stock, Worth 4-5x To Shareholders

StoneMor shares are currently worth 4-5x based on public comps. Conservative accounting disguises valuable, compounding asset base. New management has made significant strides to cut costs, reallocate capital, and restructure its org chart. The company holds $413 million in NOLs available to a financial buyer. There is a strong case that the shares could be taken out in the near future.
Seeking Alpha • Aug 24

StoneMor: There's Better Out There

StoneMor has been on a bumpy ride in recent years, especially when it comes to the company's profitability. This makes it difficult to value the firm, even as data shows that the current fiscal year should, in some ways, be better for shareholders than last year was. In all, there likely are more attractive prospects on the market than StoneMor.

Analyse der Geschäftsführervergütung

Wie hat sich die Vergütung von Joe Redling im Vergleich zu den Einnahmen von StoneMor verändert?
DatumGesamtvergütungGehaltUnternehmensgewinne
Jun 30 2022n/an/a

-US$45m

Mar 31 2022n/an/a

-US$64m

Dec 31 2021US$2mUS$741k

-US$57m

Sep 30 2021n/an/a

-US$52m

Jun 30 2021n/an/a

-US$55m

Mar 31 2021n/an/a

-US$28m

Dec 31 2020US$2mUS$633k

-US$37m

Sep 30 2020n/an/a

-US$87m

Jun 30 2020n/an/a

-US$121m

Mar 31 2020n/an/a

-US$147m

Dec 31 2019US$3mUS$700k

-US$155m

Sep 30 2019n/an/a

-US$121m

Jun 30 2019n/an/a

-US$95m

Mar 31 2019n/an/a

-US$77m

Dec 31 2018US$4mUS$318k

-US$73m

Vergütung im Vergleich zum Markt: JoeDie Gesamtvergütung ($USD1.81M) liegt unter dem Durchschnitt von Unternehmen ähnlicher Größe auf dem Markt US ($USD2.43M).

Entschädigung vs. Einkommen: JoeDie Vergütung des Vorstandsvorsitzenden entsprach im vergangenen Jahr der Unternehmensleistung.

Geschäftsführer

Joe Redling (63 yo)

4.3yrs
Amtszeit
US$1,812,049
Vergütung

Mr. Joseph M. Redling, also known as Joe, has been Chief Executive Officer, President and Director at StoneMor Inc. since July 17, 2018. Mr. Redling served as the Chief Operating Officer of Vonage Holdings...

Führungsteam

NamePositionAmtszeitVergütungEigentümerschaft
Joseph Redling
President4.3yrsUS$1.81m1.38%
$ 5.8m
Jeffrey DiGiovanni
Senior VP & CFO3.2yrsUS$677.56k0.19%
$ 797.3k
Thomas Connolly
Senior Vice President of Business Planning & Operationsno datakeine Daten0.17%
$ 730.2k
Charlotte Igou
Vice President of Accounting & Corporate Controller2.8yrskeine Datenkeine Daten
Sahal Laher
Senior VP & Chief Information Officerless than a yearkeine Datenkeine Daten
Lorena Trujillo
VP, General Counsel & Secretaryless than a yearkeine Datenkeine Daten
Keith Trost
Senior Vice President of Corporate Developmentless than a yearkeine Daten0.055%
$ 230.6k
Lindsay Granson
Senior Vice President of Sales & Marketing4.4yrskeine Daten0.14%
$ 586.4k
Gina Mack
Vice-President of Human Resources5.2yrskeine Datenkeine Daten
Jack Omer
Divisional President of Central4.2yrskeine Datenkeine Daten
Robert Page
Senior Vice President of Operational Services4.3yrskeine Datenkeine Daten
Marc Bing-Zaremba
Divisional President of East2.8yrskeine Datenkeine Daten
3.2yrs
Durchschnittliche Betriebszugehörigkeit
46yo
Durchschnittliches Alter

Erfahrenes Management: STONDas Führungsteam des Unternehmens gilt als erfahren (3.2 Jahre durchschnittliche Betriebszugehörigkeit).

Vorstandsmitglieder

NamePositionAmtszeitVergütungEigentümerschaft
Joseph Redling
President4.3yrsUS$1.81m1.38%
$ 5.8m
David Miller
Independent Director3.4yrsUS$110.00k0.79%
$ 3.3m
Kevin Patrick
Independent Director2.2yrsUS$150.00kkeine Daten
Patricia Wellenbach
Independent Director4.6yrsUS$200.00k0.0051%
$ 21.4k
Stephen Negrotti
Independent Director4.6yrsUS$225.00k0.041%
$ 171.7k
Andrew Axelrod
Chairman of the Board3.4yrsUS$110.00kkeine Daten
Spencer Goldenberg
Independent Director3.4yrsUS$125.00k0.0084%
$ 35.3k
3.4yrs
Durchschnittliche Betriebszugehörigkeit
63yo
Durchschnittliches Alter

Erfahrener Vorstand: STONDie Vorstandsmitglieder gelten als erfahren (3.4 Jahre durchschnittliche Amtszeit).

Unternehmensanalyse und Finanzdaten Status

DatenZuletzt aktualisiert (UTC-Zeit)
Unternehmensanalyse2022/11/04 06:43
Aktienkurs zum Tagesende2022/11/03 00:00
Gewinne2022/06/30
Jährliche Einnahmen2021/12/31

Datenquellen

Die in unserer Unternehmensanalyse verwendeten Daten stammen von S&P Global Market Intelligence LLC. Die folgenden Daten werden in unserem Analysemodell verwendet, um diesen Bericht zu erstellen. Die Daten sind normalisiert, was zu einer Verzögerung bei der Verfügbarkeit der Quelle führen kann.

PaketDatenZeitrahmenBeispiel US-Quelle *
Finanzdaten des Unternehmens10 Jahre
  • Gewinn- und Verlustrechnung
  • Kapitalflussrechnung
  • Bilanz
Konsensschätzungen der Analysten+3 Jahre
  • Finanzielle Vorausschau
  • Kursziele der Analysten
Marktpreise30 Jahre
  • Aktienkurse
  • Dividenden, Splits und Aktionen
Eigentümerschaft10 Jahre
  • Top-Aktionäre
  • Insiderhandel
Verwaltung10 Jahre
  • Das Führungsteam
  • Direktorium
Wichtige Entwicklungen10 Jahre
  • Ankündigungen des Unternehmens

* Beispiel für US-Wertpapiere, für nicht-US-amerikanische Wertpapiere werden gleichwertige regulatorische Formulare und Quellen verwendet.

Sofern nicht anders angegeben, beziehen sich alle Finanzdaten auf einen Jahreszeitraum, werden aber vierteljährlich aktualisiert. Dies wird als Trailing Twelve Month (TTM) oder Last Twelve Month (LTM) Daten bezeichnet. Erfahren Sie mehr.

Analysemodell und Schneeflocke

Details zum Analysemodell, mit dem dieser Bericht erstellt wurde, finden Sie auf unserer Github-Seite; außerdem bieten wir Leitfäden zur Nutzung unserer Berichte und Tutorials auf Youtube an.

Erfahren Sie mehr über das Weltklasse-Team, das das Simply Wall St-Analysemodell entworfen und entwickelt hat.

Metriken für Industrie und Sektor

Unsere Branchen- und Sektionskennzahlen werden alle 6 Stunden von Simply Wall St berechnet. Details zu unserem Verfahren finden Sie auf Github.

Analysten-Quellen

StoneMor Inc. wird von 5 Analysten beobachtet. dieser Analysten hat die Umsatz- oder Gewinnschätzungen übermittelt, die als Grundlage für unseren Bericht dienen. Die von den Analysten übermittelten Daten werden im Laufe des Tages aktualisiert.

AnalystEinrichtung
Benjamin MayoBaird
Michael GyureBrean Capital Historical (Janney Montgomery)
Liam BurkeB. Riley Securities, Inc.