StoneMor Inc.

NYSE:STON 株式レポート

時価総額：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 マネジメント

マネジメント 基準チェック /44

主要情報

Joe Redling

最高経営責任者

US$1.8m

報酬総額

CEO給与比率40.89%
CEO在任期間4.3yrs
CEOの所有権1.4%
経営陣の平均在職期間3.2yrs
取締役会の平均在任期間3.4yrs

経営陣の近況

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.

CEO報酬分析

StoneMor の収益と比較して、Joe Redling の報酬はどのように変化したか？
日付総報酬給与会社業績
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

報酬と市場: Joeの 総報酬 ($USD 1.81M ) は、 US市場 ($USD 2.43M ) の同様の規模の企業の平均を下回っています。

報酬と収益: Joeの報酬は、過去 1 年間の会社の業績と一致しています。

CEO

Joe Redling (63 yo)

4.3yrs
在職期間
US$1,812,049
報酬

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...

リーダーシップ・チーム

名称ポジション在職期間報酬所有権
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 dataデータなし0.17%
$ 730.2k
Charlotte Igou
Vice President of Accounting & Corporate Controller2.8yrsデータなしデータなし
Sahal Laher
Senior VP & Chief Information Officerless than a yearデータなしデータなし
Lorena Trujillo
VP, General Counsel & Secretaryless than a yearデータなしデータなし
Keith Trost
Senior Vice President of Corporate Developmentless than a yearデータなし0.055%
$ 230.6k
Lindsay Granson
Senior Vice President of Sales & Marketing4.4yrsデータなし0.14%
$ 586.4k
Gina Mack
Vice-President of Human Resources5.2yrsデータなしデータなし
Jack Omer
Divisional President of Central4.2yrsデータなしデータなし
Robert Page
Senior Vice President of Operational Services4.3yrsデータなしデータなし
Marc Bing-Zaremba
Divisional President of East2.8yrsデータなしデータなし
3.2yrs
平均在職期間
46yo
平均年齢

経験豊富な経営陣: STONの経営陣は 経験豊富 であると考えられます ( 3.2年の平均在職年数)。

取締役

名称ポジション在職期間報酬所有権
Joseph Redling
President4.3yrsUS$1.81m1.38%
$ 5.8m
David Miller
Independent Director3.4yrsUS$110.00k0.79%
$ 3.3m
Kevin Patrick
Independent Director2.2yrsUS$150.00kデータなし
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$110.00kデータなし
Spencer Goldenberg
Independent Director3.4yrsUS$125.00k0.0084%
$ 35.3k
3.4yrs
平均在職期間
63yo
平均年齢

経験豊富なボード: STONの 取締役会 は 経験豊富 であると考えられます ( 3.4年の平均在任期間)。

企業分析と財務データの現状

データ最終更新日（UTC時間）
企業分析2022/11/04 19:25
終値2022/11/03 00:00
収益2022/06/30
年間収益2021/12/31

データソース

企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。

パッケージデータタイムフレーム米国ソース例
会社財務10年
  • 損益計算書
  • キャッシュ・フロー計算書
  • 貸借対照表
アナリストのコンセンサス予想+プラス3年
  • 予想財務
  • アナリストの目標株価
市場価格30年
  • 株価
  • 配当、分割、措置
所有権10年
  • トップ株主
  • インサイダー取引
マネジメント10年
  • リーダーシップ・チーム
  • 取締役会
主な進展10年
  • 会社からのお知らせ

* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。

特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。

分析モデルとスノーフレーク

このレポートを生成するために使用した分析モデルの詳細は、当社のGitHubページでご覧いただけます。また、レポートの活用方法に関するガイドやYouTubeのチュートリアルも用意しています。

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業界およびセクターの指標

私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。

アナリスト筋

StoneMor Inc. これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。5

アナリスト機関
Benjamin MayoBaird
Michael GyureBrean Capital Historical (Janney Montgomery)
Liam BurkeB. Riley Securities, Inc.