StoneMor Inc.

Informe acción NYSE:STON

Capitalización de mercado: 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 Dirección

Dirección controles de criterios 4/4

Información clave

Joe Redling

Chief Executive Officer (CEO)

US$1.8m

Compensación total

Porcentaje del salario del CEO40.89%
Permanencia del CEO4.3yrs
Participación del CEO1.4%
Permanencia media de la dirección3.2yrs
Promedio de permanencia en la Junta Directiva3.4yrs

Actualizaciones recientes de la dirección

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.

Análisis de compensación del CEO

¿Cómo ha cambiado la remuneración de Joe Redling en comparación con los beneficios de StoneMor?
FechaCompensación totalSalarioIngresos de la empresa
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

Compensación vs. Mercado: La compensación total de Joe($USD1.81M) está por debajo de la media de empresas de tamaño similar en el mercado US ($USD2.43M).

Compensación vs. Ingresos: La compensación de Joe ha sido consistente con los resultados de la empresa en el último año.

CEO

Joe Redling (63 yo)

4.3yrs
Permanencia
US$1,812,049
Compensación

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...

Equipo directivo

NombrePosiciónPermanenciaCompensaciónPropiedad
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 datasin datos0.17%
$ 730.2k
Charlotte Igou
Vice President of Accounting & Corporate Controller2.8yrssin datossin datos
Sahal Laher
Senior VP & Chief Information Officerless than a yearsin datossin datos
Lorena Trujillo
VP, General Counsel & Secretaryless than a yearsin datossin datos
Keith Trost
Senior Vice President of Corporate Developmentless than a yearsin datos0.055%
$ 230.6k
Lindsay Granson
Senior Vice President of Sales & Marketing4.4yrssin datos0.14%
$ 586.4k
Gina Mack
Vice-President of Human Resources5.2yrssin datossin datos
Jack Omer
Divisional President of Central4.2yrssin datossin datos
Robert Page
Senior Vice President of Operational Services4.3yrssin datossin datos
Marc Bing-Zaremba
Divisional President of East2.8yrssin datossin datos
3.2yrs
Permanencia media
46yo
Promedio de edad

Equipo directivo experimentado: El equipo directivo de STON se considera experimentado (3.2 años antigüedad media).

Miembros de la Junta

NombrePosiciónPermanenciaCompensaciónPropiedad
Joseph Redling
President4.3yrsUS$1.81m1.38%
$ 5.8m
David Miller
Independent Director3.4yrsUS$110.00k0.79%
$ 3.3m
Kevin Patrick
Independent Director2.2yrsUS$150.00ksin datos
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$110.00ksin datos
Spencer Goldenberg
Independent Director3.4yrsUS$125.00k0.0084%
$ 35.3k
3.4yrs
Permanencia media
63yo
Promedio de edad

Junta con experiencia: La junta directiva de STON se considera experimentada (3.4 años de antigüedad promedio).

Análisis de la empresa y estado de los datos financieros

DatosÚltima actualización (huso horario UTC)
Análisis de la empresa2022/11/04 15:38
Precio de las acciones al final del día2022/11/03 00:00
Beneficios2022/06/30
Ingresos anuales2021/12/31

Fuentes de datos

Los datos utilizados en nuestro análisis de empresas proceden de S&P Global Market Intelligence LLC. Los siguientes datos se utilizan en nuestro modelo de análisis para generar este informe. Los datos están normalizados, lo que puede introducir un retraso desde que la fuente está disponible.

PaqueteDatosMarco temporalEjemplo Fuente EE.UU. *
Finanzas de la empresa10 años
  • Cuenta de resultados
  • Estado de tesorería
  • Balance
Estimaciones del consenso de analistas+3 años
  • Previsiones financieras
  • Objetivos de precios de los analistas
Precios de mercado30 años
  • Precios de las acciones
  • Dividendos, escisiones y acciones
Propiedad10 años
  • Accionistas principales
  • Información privilegiada
Gestión10 años
  • Equipo directivo
  • Consejo de Administración
Principales avances10 años
  • Anuncios de empresas

* Ejemplo para valores de EE.UU., para no EE.UU. se utilizan formularios y fuentes normativas equivalentes.

A menos que se especifique lo contrario, todos los datos financieros se basan en un periodo anual, pero se actualizan trimestralmente. Esto se conoce como datos de los últimos doce meses (TTM) o de los últimos doce meses (LTM). Más información.

Modelo de análisis y copo de nieve

Los detalles del modelo de análisis utilizado para generar este informe están disponibles en nuestra página de Github, también tenemos guías sobre cómo utilizar nuestros informes y tutoriales en Youtube.

Conozca al equipo de talla mundial que diseñó y construyó el modelo de análisis Simply Wall St.

Métricas industriales y sectoriales

Simply Wall St calcula cada 6 horas nuestras métricas sectoriales y de sección. Los detalles de nuestro proceso están disponibles en Github.

Fuentes analistas

StoneMor Inc. está cubierta por 5 analistas. de esos analistas presentaron las estimaciones de ingresos o ganancias utilizadas como datos para nuestro informe. Las estimaciones de los analistas se actualizan a lo largo del día.

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