NYSE:CSV

Stock Analysis Report

Executive Summary

Carriage Services, Inc. provides funeral and cemetery services, and merchandise in the United States.

Snowflake

Fundamentals

Moderate growth potential and slightly overvalued.


Similar Companies

Share Price & News

How has Carriage Services's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-0.5%

CSV

-3.3%

US Consumer Services

0.07%

US Market


1 Year Return

10.0%

CSV

25.0%

US Consumer Services

8.9%

US Market

Return vs Industry: CSV underperformed the US Consumer Services industry which returned 25% over the past year.

Return vs Market: CSV exceeded the US Market which returned 8.9% over the past year.


Shareholder returns

CSVIndustryMarket
7 Day-0.5%-3.3%0.07%
30 Day-1.7%-3.6%-0.3%
90 Day13.9%-4.6%-1.6%
1 Year11.8%10.0%25.6%25.0%11.3%8.9%
3 Year-8.7%-11.8%97.1%86.6%46.3%36.8%
5 Year16.4%11.2%130.9%106.8%62.1%44.3%

Price Volatility Vs. Market

How volatile is Carriage Services's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Carriage Services undervalued compared to its fair value and its price relative to the market?

38.2%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CSV ($21.39) is trading below our estimate of fair value ($34.61)

Significantly Below Fair Value: CSV is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: CSV is poor value based on its PE Ratio (36.3x) compared to the Consumer Services industry average (25.8x).

PE vs Market: CSV is poor value based on its PE Ratio (36.3x) compared to the US market (17.8x).


Price to Earnings Growth Ratio

PEG Ratio: CSV is poor value based on its PEG Ratio (1.3x)


Price to Book Ratio

PB vs Industry: CSV is good value based on its PB Ratio (1.7x) compared to the US Consumer Services industry average (2.2x).


Next Steps

Future Growth

How is Carriage Services forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

28.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CSV's forecast earnings growth (28.6% per year) is above the savings rate (2.7%).

Earnings vs Market: CSV's earnings (28.6% per year) are forecast to grow faster than the US market (14.5% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: CSV's revenue (3% per year) is forecast to grow slower than the US market (7.2% per year).

High Growth Revenue: CSV's revenue (3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CSV's Return on Equity is forecast to be low in 3 years time (10.9%).


Next Steps

Past Performance

How has Carriage Services performed over the past 5 years?

7.5%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: CSV's earnings have grown by 7.5% per year over the past 5 years.

Accelerating Growth: CSV's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: CSV had negative earnings growth (-71.1%) over the past year, making it difficult to compare to the Consumer Services industry average (3.9%).


Return on Equity

High ROE: CSV's Return on Equity (4.9%) is considered low.


Return on Assets

ROA vs Industry: CSV's Return on Assets is below or equal to the Consumer Services industry average last year.


Return on Capital Employed

ROCE Improving: CSV's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Carriage Services's financial position?


Financial Position Analysis

Short Term Liabilities: CSV's short term assets ($25.6M) do not cover its short term liabilities ($32.5M)

Long Term Liabilities: CSV's short term assets (25.6M) do not cover its long term liabilities (700.4M)


Debt to Equity History and Analysis

Debt Level: CSV's debt to equity ratio (159.1%) is considered high

Reducing Debt: CSV's debt to equity ratio has reduced from 166.2% to 159.1% over the past 5 years.

Debt Coverage: CSV's debt is not well covered by operating cash flow (12.5%).

Interest Coverage: CSV's interest payments on its debt are not well covered by EBIT (1.7x coverage).


Balance Sheet

Inventory Level: CSV has a high level of physical assets or inventory.

Debt Coverage by Assets: CSV's debt is not covered by short term assets (assets are 0.1x debt).


Next Steps

Dividend

What is Carriage Services's current dividend yield, its reliability and sustainability?

1.40%

Current Dividend Yield


Dividend Yield vs Market

company1.4%marketbottom25%1.4%markettop25%3.7%industryaverage2.1%forecastin3Years1.4%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: CSV's dividend (1.4%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.45%).

High Dividend: CSV's dividend (1.4%) is low compared to the top 25% of dividend payers in the US market (3.68%).

Stable Dividend: Whilst dividend payments have been stable, CSV has been paying a dividend for less than 10 years.

Growing Dividend: CSV's dividend payments have increased, but the company has only paid a dividend for 8 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (50.9%), CSV's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CSV's dividends in 3 years are forecast to be well covered by earnings (18.3% payout ratio).


Next Steps

  • Explore strong dividend paying companies in the Consumer Services industry.

Management

What is the CEO of Carriage Services's salary, the management and board of directors tenure and is there insider trading?

1.5yrs

Average management tenure


CEO

Mel Payne (76yo)

28.8yrs

Tenure

US$2,379,270

Compensation

Mr. Melvin C. Payne, also known as Mel, is a Chief Operating Officer of Carriage Services, Inc. since November 01, 2018 and he has been founded in 1991, has been Executive Chairman since December 1996 and  ...


CEO Compensation Analysis

Compensation vs. Market: Mel's total compensation ($USD2.38M) is above average for companies of similar size in the US market ($USD1.81M).

Compensation vs Earnings: Mel's compensation has been consistent with company performance over the past year.


Management Age and Tenure

1.5yrs

Average Tenure

53yo

Average Age

Experienced Management: CSV's management team is not considered experienced ( 1.5 years average tenure), which suggests a new team.


Board Age and Tenure

5.7yrs

Average Tenure

62.5yo

Average Age

Experienced Board: CSV's board of directors are considered experienced (5.7 years average tenure).


Insider Trading

Insider Buying: CSV insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$22,58017 Sep 19
James Schenck
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares1,000
Max PriceUS$22.58
SellUS$21,29917 Sep 19
Carl Brink
EntityIndividual
Role
Chief Financial Officer
CFO, Senior VP & Treasurer
Shares935
Max PriceUS$22.78
BuyUS$5,96812 Jun 19
Steve Metzger
EntityIndividual
Shares320
Max PriceUS$18.65
BuyUS$9,03813 Mar 19
Steve Metzger
EntityIndividual
Shares436
Max PriceUS$20.73
SellUS$7,55620 Feb 19
Carl Brink
EntityIndividual
Role
Chief Financial Officer
CFO, Senior VP & Treasurer
Shares395
Max PriceUS$19.13
SellUS$10,34920 Feb 19
Adeola Olaniyan
EntityIndividual
Role
Controller
Corporate Controller
Shares541
Max PriceUS$19.13
SellUS$8,37920 Feb 19
Shawn Phillips
EntityIndividual
Role
Head of Corporate Development
Senior VP and Head of Strategic & Corporate Development
Shares438
Max PriceUS$19.13
SellUS$7,55620 Feb 19
Viki Blinderman
EntityIndividual
Role
Co-Chief Financial Officer
Principal Financial Officer
Shares395
Max PriceUS$19.13
BuyUS$51,20012 Dec 18
Donald Patteson
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares3,200
Max PriceUS$16.00
SellUS$70,45112 Dec 18
Shawn Phillips
EntityIndividual
Role
Head of Corporate Development
Senior VP and Head of Strategic & Corporate Development
Shares4,384
Max PriceUS$16.07
BuyUS$28,56003 Dec 18
Barry Fingerhut
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares1,700
Max PriceUS$16.80
BuyUS$262,92809 Nov 18
Melvin Payne
EntityIndividual
Role
Chief Executive Officer
Founder
Shares15,349
Max PriceUS$17.13
BuyUS$1,137,26308 Nov 18
Melvin Payne
EntityIndividual
Role
Chief Executive Officer
Founder
Shares68,651
Max PriceUS$17.07
BuyUS$72,31508 Nov 18
Carl Brink
EntityIndividual
Role
Chief Financial Officer
CFO, Senior VP & Treasurer
Shares4,500
Max PriceUS$17.05
BuyUS$1,058,76007 Nov 18
Melvin Payne
EntityIndividual
Role
Chief Executive Officer
Founder
Shares66,000
Max PriceUS$16.08
BuyUS$48,51007 Nov 18
James Schenck
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares3,000
Max PriceUS$16.17
BuyUS$11,08007 Nov 18
Douglas Meehan
EntityIndividual
Role
Member of the Board of Directors
Independence Director
Shares719
Max PriceUS$15.41
BuyUS$95,04007 Nov 18
Bryan Leibman
EntityIndividual
Role
Lead Director
Lead Director
Shares6,000
Max PriceUS$15.84

Ownership Breakdown


Management Team

  • Mel Payne (76yo)

    Founder

    • Tenure: 28.8yrs
    • Compensation: US$2.38m
  • Shawn Phillips (56yo)

    Senior VP and Head of Strategic & Corporate Development

    • Tenure: 2.7yrs
    • Compensation: US$864.09k
  • Viki Blinderman (50yo)

    Principal Financial Officer

    • Tenure: 4.2yrs
    • Compensation: US$820.03k
  • Paul Elliott (58yo)

    Senior VP & Regional Partner of West

    • Tenure: 7.1yrs
    • Compensation: US$873.67k
  • Ben Brink (38yo)

    CFO, Senior VP & Treasurer

    • Tenure: 0yrs
    • Compensation: US$831.56k
  • Adeola Olaniyan (40yo)

    Corporate Controller

    • Tenure: 0yrs
  • Peggy Schappaugh

    Director of Operations & Acquisitions Analysis

    • Tenure: 0.3yrs
  • Michael Loeffel

    Vice President of Human Resources

    • Tenure: 0.3yrs
  • Steve Metzger

    Senior VP & General Counsel

    • Tenure: 0.3yrs
  • Christopher Manceaux

    Senior VP & Regional Partner

    • Tenure: 0.3yrs

Board Members

  • Barry Fingerhut (73yo)

    Independent Director

    • Tenure: 7.6yrs
    • Compensation: US$80.00k
  • Mel Payne (76yo)

    Founder

    • Tenure: 28.8yrs
    • Compensation: US$2.38m
  • Donald Patteson (74yo)

    Independent Director

    • Tenure: 8.2yrs
    • Compensation: US$85.00k
  • Bryan Leibman (50yo)

    Lead Director

    • Tenure: 3.8yrs
    • Compensation: US$85.00k
  • James Schenck (52yo)

    Independent Director

    • Tenure: 3.8yrs
    • Compensation: US$80.00k
  • Douglas Meehan (47yo)

    Independence Director

    • Tenure: 1.4yrs
    • Compensation: US$71.98k

Company Information

Carriage Services, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Carriage Services, Inc.
  • Ticker: CSV
  • Exchange: NYSE
  • Founded: 1991
  • Industry: Specialized Consumer Services
  • Sector: Consumer Services
  • Market Cap: US$381.004m
  • Shares outstanding: 17.81m
  • Website: https://www.carriageservices.com

Number of Employees


Location

  • Carriage Services, Inc.
  • 3040 Post Oak Boulevard
  • Suite 300
  • Houston
  • Texas
  • 77056
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CSVNYSE (New York Stock Exchange)YesCommon SharesUSUSDAug 1996
C57BST (Boerse-Stuttgart)YesCommon SharesDEEURAug 1996

Biography

Carriage Services, Inc. provides funeral and cemetery services, and merchandise in the United States. It operates through two segments, Funeral Home Operations and Cemetery Operations. The Funeral Home Ope ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/22 23:32
End of Day Share Price2019/10/22 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.