StoneMor Inc.

Report azionario NYSE:STON

Capitalizzazione di mercato: 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 Performance degli utili passati

Criteri Il passato verificati 0/6

Informazioni chiave

3.97%

Tasso di crescita degli utili

22.47%

Tasso di crescita dell'EPS

Consumer Services Crescita del settore20.27%
Tasso di crescita dei ricavi-2.25%
Rendimento del capitale proprion/a
Margine netto-13.95%
Ultimo aggiornamento sugli utili30 Jun 2022

Aggiornamenti sulle prestazioni recenti

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.

Ripartizione dei ricavi e delle spese

Come StoneMor guadagna e spende denaro. In base agli ultimi utili dichiarati, su base LTM.

Storico di utili e ricavi

NYSE:STON Ricavi, spese e utili (USD Millions )
DataRicaviUtiliSpese G+ASpese di R&S
30 Jun 22323-451520
31 Mar 22326-641450
31 Dec 21323-571410
30 Sep 21319-521340
30 Jun 21309-551320
31 Mar 21293-281280
31 Dec 20280-371240
30 Sep 20239-871210
30 Jun 20239-1211230
31 Mar 20251-1471300
31 Dec 19257-1551360
30 Sep 19307-1211470
30 Jun 19307-951460
31 Mar 19310-771470
31 Dec 18316-731500
30 Sep 18318-971510
30 Jun 18329-891550
31 Mar 18333-841590
31 Dec 17338-741570
30 Sep 17341-351570
30 Jun 17338-361540
31 Mar 17331-331480
31 Dec 16326-321450
30 Sep 16321-351410
30 Jun 16322-291370
31 Mar 16328-251380
31 Dec 15320-271360

Guadagni di qualità: STON al momento non è redditizia.

Margine di profitto in crescita: STON al momento non è redditizia.

Flusso di cassa libero e analisi degli utili

Analisi della crescita degli utili nel passato

Andamento degli utili: STON non è redditizia, ma ha ridotto le perdite negli ultimi 5 anni a un tasso pari a 4% all'anno.

Accelerare la crescita: Impossibile confrontare la crescita degli utili di STON nell'ultimo anno con la sua media quinquennale poiché al momento non è redditizia

Guadagni vs Settore: STON non è redditizia, il che rende difficile confrontare la crescita dei suoi utili dell'anno passato con il settore Consumer Services ( 10.2% ).

Rendimento del capitale proprio

ROE elevato: Le passività di STON superano le sue attività, quindi è difficile calcolare il suo rendimento del capitale proprio.

Rendimento delle attività

Rendimento del capitale investito

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Analisi aziendale e situazione dei dati finanziari

DatiUltimo aggiornamento (ora UTC)
Analisi dell'azienda2022/11/04 06:43
Prezzo dell'azione a fine giornata2022/11/03 00:00
Utili2022/06/30
Utili annuali2021/12/31

Fonti dei dati

I dati utilizzati nella nostra analisi aziendale provengono da S&P Global Market Intelligence LLC. I seguenti dati sono utilizzati nel nostro modello di analisi per generare questo report. I dati sono normalizzati, il che può comportare un ritardo nella disponibilità della fonte.

PacchettoDatiTempisticaEsempio Fonte USA *
Dati finanziari della società10 anni
  • Conto economico
  • Rendiconto finanziario
  • Bilancio
Stime di consenso degli analisti+3 anni
  • Previsioni finanziarie
  • Obiettivi di prezzo degli analisti
Prezzi di mercato30 anni
  • Prezzi delle azioni
  • Dividendi, scissioni e azioni
Proprietà10 anni
  • Top azionisti
  • Insider trading
Gestione10 anni
  • Team di leadership
  • Consiglio di amministrazione
Sviluppi principali10 anni
  • Annunci aziendali

* Esempio per i titoli statunitensi, per i titoli non statunitensi si utilizzano forme e fonti normative equivalenti.

Se non specificato, tutti i dati finanziari si basano su un periodo annuale ma vengono aggiornati trimestralmente. Si tratta dei cosiddetti dati TTM (Trailing Twelve Month) o LTM (Last Twelve Month). Per saperne di più.

Modello di analisi e Snowflake

I dettagli del modello di analisi utilizzato per generare questo report sono disponibili sulla nostra pagina GitHub; abbiamo anche delle guide su come utilizzare i nostri report e dei tutorial su YouTube.

Scoprite il team di livello mondiale che ha progettato e realizzato il modello di analisi Simply Wall St.

Metriche di settore e industriali

Le nostre metriche di settore e di sezione sono calcolate ogni 6 ore da Simply Wall St; i dettagli del nostro processo sono disponibili su Github.

Fonti analitiche

StoneMor Inc. è coperta da 5 analisti. di questi analisti ha fornito le stime di fatturato o di utile utilizzate come input per il nostro report. Le stime degli analisti vengono aggiornate nel corso della giornata.

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