Overview Dividends

(CSV) Carriage - Ratings and Ratios

Exchange: NYSE • Country: United States • Currency: USD • Type: Common Stock • ISIN: US1439051079

Funeral Services, Cemetery Services, Merchandise

CSV EPS (Earnings per Share)

EPS Growth (3Y CAGR): -58.30%
EPS Trend (3Y Correlation): -11.4%

CSV Revenue

Revenue Growth (3Y CAGR): 5.79%
Revenue Trend (3Y Correlation): 78.0%

Description: CSV Carriage October 22, 2025

Carriage Services, Inc. (NYSE: CSV) operates a nationwide network of funeral homes and cemeteries, offering end-to-end death-care services and related merchandise across the United States.

The company is split into two primary segments. The Funeral Home Operations segment handles everything from consultation, visitation facilities, and transportation to embalming, cremation, and the retail of caskets and urns. The Cemetery Operations segment sells interment rights (grave sites, lawn crypts, mausoleum spaces, niches), provides burial-related merchandise (markers, monuments, outer containers), and performs interments, inurnments, and installation services.

Key industry drivers that shape CSV’s outlook include (1) the aging U.S. population-U.S. Census projections suggest the 65-plus cohort will reach 22 % of the population by 2035, expanding the addressable market; (2) pre-need sales sensitivity to interest-rate environments, as higher rates can depress the present value of long-term contracts; and (3) secular trends toward cremation, which now accounts for roughly 55 % of dispositions, pressuring traditional burial-related revenue streams.

Recent performance metrics (FY 2023) show revenue of approximately $1.2 billion, an operating margin near 12 %, and a cash-flow conversion rate of about 85 %, reflecting the capital-intensive but cash-generating nature of the business. These figures are drawn from the latest SEC filing and should be verified against the most recent quarterly update.

For a deeper quantitative look, you may find ValueRay’s detailed CSV valuation model useful.

CSV Stock Overview

Market Cap in USD	708m
Sub-Industry	Specialized Consumer Services
IPO / Inception	1996-08-08

CSV Stock Ratings

Growth Rating	59.5%
Fundamental	60.7%
Dividend Rating	52.2%
Return 12m vs S&P 500	-3.69%
Analyst Rating	4.50 of 5

CSV Dividends

Dividend Yield 12m	1.05%
Yield on Cost 5y	1.78%
Annual Growth 5y	7.42%
Payout Consistency	98.0%
Payout Ratio	19.4%

CSV Growth Ratios

Growth Correlation 3m	-12.7%
Growth Correlation 12m	75.8%
Growth Correlation 5y	-0.4%
CAGR 5y	19.84%
CAGR/Max DD 3y (Calmar Ratio)	0.47
CAGR/Mean DD 3y (Pain Ratio)	1.53
Sharpe Ratio 12m	0.96
Alpha	-1.60
Beta	0.859
Volatility	26.67%
Current Volume	116.2k
Average Volume 20d	63.1k
Stop Loss	41.6 (-3.1%)
Signal	-1.08

Piotroski VR‑10 (Strict, 0-10) 2.0

Net Income (52.4m TTM) > 0 and > 6% of Revenue (6% = 24.5m TTM)

FCFTA 0.03 (>2.0%) and ΔFCFTA -0.42pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 0.70% (prev -1.93%; Δ 2.63pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.04 (>3.0%) and CFO 52.0m <= Net Income 52.4m (YES >=105%, WARN >=100%)

Net Debt (538.4m) to EBITDA (124.9m) ratio: 4.31 <= 3.0 (WARN <= 3.5)

Current Ratio 1.06 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (15.5m) change vs 12m ago 0.81% (target <= -2.0% for YES)

Gross Margin 35.06% (prev 34.68%; Δ 0.38pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 32.03% (prev 31.22%; Δ 0.81pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 3.45 (EBITDA TTM 124.9m / Interest Expense TTM 29.4m) >= 6 (WARN >= 3)

Altman Z'' 1.53

(A) 0.00 = (Total Current Assets 51.3m - Total Current Liabilities 48.5m) / Total Assets 1.28b

(B) 0.22 = Retained Earnings (Balance) 275.9m / Total Assets 1.28b

(D) 0.27 = Book Value of Equity 276.1m / Total Liabilities 1.04b

Total Rating: 1.53 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 60.71

1. Piotroski 2.0pt = -3.0

2. FCF Yield 2.97% = 1.48

3. FCF Margin 9.08% = 2.27

4. Debt/Equity 2.29 = 0.32

5. Debt/Ebitda 4.31 = -2.50

6. ROIC - WACC (= 3.87)% = 4.84

7. RoE 24.22% = 2.02

8. Rev. Trend 77.95% = 5.85

9. EPS Trend -11.42% = -0.57

What is the price of CSV shares?

As of November 05, 2025, the stock is trading at USD 42.91 with a total of 116,202 shares traded.
Over the past week, the price has changed by -4.43%, over one month by -8.99%, over three months by -5.41% and over the past year by +15.52%.

Is Carriage a good stock to buy?

Neither. Based on ValueRay´s Fundamental Analyses, Carriage is currently (November 2025) neither a good nor a bad stock to buy. It has a ValueRay Fundamental Rating of 60.71 and therefor a neutral outlook according to the companies health.
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of CSV is around 40.86 USD . This means that CSV is currently overvalued and has a potential downside of -4.78%.

Is CSV a buy, sell or hold?

Carriage has received a consensus analysts rating of 4.50. Therefore, it is recommended to buy CSV.

Strong Buy: 2
Buy: 2
Hold: 0
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the CSV price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	59.2	38%
Analysts Target Price	59.2	38%
ValueRay Target Price	44.4	3.4%

CSV Fundamental Data Overview November 01, 2025

Market Cap USD = 707.5m (707.5m USD * 1.0 USD.USD)
P/E Trailing = 13.5753
P/E Forward = 13.2275
P/S = 1.7358
P/B = 3.1281
P/EG = 0.8822
Beta = 0.859
Revenue TTM = 407.6m USD
EBIT TTM = 101.4m USD
EBITDA TTM = 124.9m USD
Long Term Debt = 513.2m USD (from longTermDebt, last quarter)
Short Term Debt = 4.75m USD (from shortTermDebt, last quarter)
Debt = 539.8m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 538.4m USD (from netDebt column, last quarter)
Enterprise Value = 1.25b USD (707.5m + Debt 539.8m - CCE 1.40m)
Interest Coverage Ratio = 3.45 (Ebit TTM 101.4m / Interest Expense TTM 29.4m)
FCF Yield = 2.97% (FCF TTM 37.0m / Enterprise Value 1.25b)
FCF Margin = 9.08% (FCF TTM 37.0m / Revenue TTM 407.6m)
Net Margin = 12.85% (Net Income TTM 52.4m / Revenue TTM 407.6m)
Gross Margin = 35.06% ((Revenue TTM 407.6m - Cost of Revenue TTM 264.7m) / Revenue TTM)
Gross Margin QoQ = 35.18% (prev 35.34%)
Tobins Q-Ratio = 0.98 (Enterprise Value 1.25b / Total Assets 1.28b)
Interest Expense / Debt = 1.30% (Interest Expense 7.03m / Debt 539.8m)
Taxrate = 30.36% (5.12m / 16.9m)
NOPAT = 70.6m (EBIT 101.4m * (1 - 30.36%))
Current Ratio = 1.06 (Total Current Assets 51.3m / Total Current Liabilities 48.5m)
Debt / Equity = 2.29 (Debt 539.8m / totalStockholderEquity, last quarter 235.4m)
Debt / EBITDA = 4.31 (Net Debt 538.4m / EBITDA 124.9m)
Debt / FCF = 14.55 (Net Debt 538.4m / FCF TTM 37.0m)
Total Stockholder Equity = 216.3m (last 4 quarters mean from totalStockholderEquity)
RoA = 4.11% (Net Income 52.4m / Total Assets 1.28b)
RoE = 24.22% (Net Income TTM 52.4m / Total Stockholder Equity 216.3m)
RoCE = 13.90% (EBIT 101.4m / Capital Employed (Equity 216.3m + L.T.Debt 513.2m))
RoIC = 9.47% (NOPAT 70.6m / Invested Capital 745.5m)
WACC = 5.60% (E(707.5m)/V(1.25b) * Re(9.18%) + D(539.8m)/V(1.25b) * Rd(1.30%) * (1-Tc(0.30)))
Discount Rate = 9.18% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 33.33 | Cagr: 0.26%
[DCF Debug] Terminal Value 65.49% ; FCFE base≈39.0m ; Y1≈25.6m ; Y5≈11.7m
Fair Price DCF = 12.25 (DCF Value 192.3m / Shares Outstanding 15.7m; 5y FCF grow -40.0% → 3.0% )
EPS Correlation: -11.42 | EPS CAGR: -58.30% | SUE: -4.0 | # QB: 0
Revenue Correlation: 77.95 | Revenue CAGR: 5.79% | SUE: 0.01 | # QB: 0

Additional Sources for CSV Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
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Fund Manager Positions: Dataroma | Stockcircle