NYSE:CSV

Stock Analysis Report

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Executive Summary

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


Snowflake Analysis

Good value with moderate growth potential.


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

Stable Share Price: CSV's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

2.1%

CSV

-6.0%

US Consumer Services

-1.1%

US Market


1 Year Return

-8.7%

CSV

32.8%

US Consumer Services

15.0%

US Market

Return vs Industry: CSV underperformed the US Consumer Services industry which returned 36.2% over the past year.

Return vs Market: CSV underperformed the US Market which returned 15.6% over the past year.


Shareholder returns

CSVIndustryMarket
7 Day2.1%-6.0%-1.1%
30 Day13.8%-4.0%2.9%
90 Day4.1%-3.4%5.7%
1 Year-7.3%-8.7%33.2%32.8%17.6%15.0%
3 Year-2.3%-6.3%61.6%55.8%38.9%29.7%
5 Year19.5%13.0%243.8%219.8%78.4%58.4%

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?

38.3%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CSV ($24.26) is trading below our estimate of fair value ($39.29)

Significantly Below Fair Value: CSV is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: CSV is poor value based on its PE Ratio (81x) compared to the US Consumer Services industry average (45.1x).

PE vs Market: CSV is poor value based on its PE Ratio (81x) compared to the US market (18.9x).


Price to Earnings Growth Ratio

PEG Ratio: CSV is good value based on its PEG Ratio (0.8x)


Price to Book Ratio

PB vs Industry: CSV is good value based on its PB Ratio (1.9x) compared to the US Consumer Services industry average (2.7x).


Next Steps

Future Growth

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

97.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CSV's forecast earnings growth (97.3% per year) is above the savings rate (2.2%).

Earnings vs Market: CSV's earnings (97.3% per year) are forecast to grow faster than the US market (22.2% per year).

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

Revenue vs Market: CSV's revenue (6.2% per year) is forecast to grow slower than the US market (10% per year).

High Growth Revenue: CSV's revenue (6.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if CSV's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Carriage Services performed over the past 5 years?

-12.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CSV has a large one-off loss of $20.3M impacting its June 30 2020 financial results.

Growing Profit Margin: CSV's current net profit margins (1.8%) are lower than last year (4.1%).


Past Earnings Growth Analysis

Earnings Trend: CSV's earnings have declined by 12.1% 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 (-51%) over the past year, making it difficult to compare to the Consumer Services industry average (3%).


Return on Equity

High ROE: CSV's Return on Equity (2.3%) is considered low.


Next Steps

Financial Health

How is Carriage Services's financial position?


Financial Position Analysis

Short Term Liabilities: CSV's short term assets ($40.2M) do not cover its short term liabilities ($40.9M).

Long Term Liabilities: CSV's short term assets ($40.2M) do not cover its long term liabilities ($865.3M).


Debt to Equity History and Analysis

Debt Level: CSV's debt to equity ratio (217.3%) is considered high.

Reducing Debt: CSV's debt to equity ratio has increased from 151.1% to 217.3% over the past 5 years.

Debt Coverage: CSV's debt is not well covered by operating cash flow (10.5%).

Interest Coverage: CSV's interest payments on its debt are not well covered by EBIT (2x coverage).


Balance Sheet


Next Steps

Dividend

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

1.44%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: CSV's dividend (1.44%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.65%).

High Dividend: CSV's dividend (1.44%) is low compared to the top 25% of dividend payers in the US market (4.63%).


Stability and Growth of Payments

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 9 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (100.2%), CSV's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.7yrs

Average management tenure


CEO

Mel Payne (77 yo)

29.75yrs

Tenure

US$2,042,675

Compensation

Mr. Melvin C. Payne, also known as Mel, serves as President, Chairman of the Board and Chief Executive Officer in Carriage Services Investment Advisors, Inc. Mr. Payne was Chief Operating Officer of Carria ...


CEO Compensation Analysis

Compensation vs Market: Mel's total compensation ($USD2.04M) is about average for companies of similar size in the US market ($USD1.93M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Melvin Payne
Founder29.75yrsUS$2.04m7.08%
$ 30.5m
Carl Brink
CFO, Senior VP & Treasurerno dataUS$513.35k0.13%
$ 559.6k
Viki Blinderman
Senior VP8.08yrsUS$497.99k0.082%
$ 352.6k
Shawn Phillips
Senior VP3.67yrsUS$495.63k0.43%
$ 1.9m
Paul Elliott
Senior VP & Regional Partner of West8.08yrsUS$496.11k0.17%
$ 745.6k
Steve Metzger
Senior VP & General Counsel1.25yrsno data0.018%
$ 78.0k
Michael Loeffel
Senior Vice President of Human Resources3yrsno data0.13%
$ 548.4k
Christopher Manceaux
Senior VP & Regional Partner1.25yrsno data0.054%
$ 233.5k
Adeola Olaniyan
Corporate Controllerno datano data0.033%
$ 142.8k

3.7yrs

Average Tenure

49yo

Average Age

Experienced Management: CSV's management team is considered experienced (3.7 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Melvin Payne
Founder29.75yrsUS$2.04m7.08%
$ 30.5m
Barry Fingerhut
Independent Director8.58yrsUS$80.00k0.095%
$ 407.4k
Gregory Brudnicki
Advisor to the Boardno dataUS$147.97k0.14%
$ 620.4k
Donald Patteson
Independent Director9.17yrsUS$85.00k0.33%
$ 1.4m
Bryan Leibman
Independent Lead Director4.75yrsUS$85.00k0.18%
$ 756.3k
James Schenck
Independent Director4.75yrsUS$80.00k0.12%
$ 501.4k
Achille Messac
Independent Director0.25yrno data0.016%
$ 71.1k
Douglas Meehan
Independence Director2.42yrsUS$75.00k0.075%
$ 323.0k

4.8yrs

Average Tenure

64yo

Average Age

Experienced Board: CSV's board of directors are considered experienced (4.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

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


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

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$431.131m
  • Shares outstanding: 17.93m
  • 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 Analysis2020/10/27 23:57
End of Day Share Price2020/10/27 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.