CARRIAGE SERVICES INC
CSV · Services-Personal Services · 15.9M shares · -4%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $29M (gross $37M, SBC $8M)
Reference price $46.14 · est. market cap ~$732M — last insider sale, 2025-10-07 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B78Funeral/cemetery consolidator with a durable local-heritage model, top-decile operating margins and 20% ROE.
Strengths
- Operating margin 23.4% (100th pct) and ROE 20.2% (56th pct); net margin 12.3% (67th pct)
- Strong cash conversion (OCF margin 73rd pct, FCF $40M) in a recession-resilient industry
Risks
- $532.9M total debt with leverage-covenant sensitivity; ROA only 3.8% reflects asset/goodwill load
- Cremation-mix shift and acquisition-integration dependence on the growth model
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Weak liquidityCurrent ratio 0.98 (<1)
- Customer concentration~65% of revenue from one customer/distributor — OVERVIEW General We operate in two business segments: Funeral Home Operations, which currently accounts for approximately 65% of our total revenue and Cemetery Operations, which currently accounts
- Buying back stockNet buyback — share count -4%/yr over 4y
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
35.1%
Operating margin
23.4%
Net margin
12.3%
Return on equity
20.2%
Return on assets
3.8%
ROIC
29.6%
Revenue growth (QoQ)
0.6%
Net-income growth
56.3%
Debt / equity
0.0×
Net debt / EBITDA
0.0×
Current ratio
1.0×
Free cash flow
$40M
EBITDA
$122M
Tangible book value
-$173M
Cash & investments
$2M
Stock comp / revenue
1.9%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-03-31 | Sanders Julie | Grant | 174 | $45.66 |
| 2026-03-31 | Webb Somer | Grant | 541 | $45.66 |
| 2026-03-31 | BRUDNICKI GREG M | Grant | 109 | $45.66 |
| 2026-03-31 | Robinson Edmondo | Grant | 557 | $45.66 |
| 2026-02-25 | Quezada Carlos R. | Grant | 20K | $44.08 |
| 2026-02-25 | Franch Rob Paul | Grant | 6.2K | $44.08 |
| 2026-02-25 | Enwright John | Grant | 8.5K | $44.08 |
| 2026-02-25 | Shanley Kathryn | Grant | 6.0K | $44.08 |
| 2026-02-25 | Pudenz Shane | Grant | 6.2K | $44.08 |
| 2026-02-25 | Mazzu Sam A. III | Grant | 1.6K | $44.08 |
| 2026-02-25 | Metzger Steven D | Grant | 13K | $44.08 |
| 2026-02-22 | Mazzu Sam A. III | Tax withheld | 136 | $44.86 |
| 2026-02-22 | Franch Rob Paul | Tax withheld | 589 | $44.86 |
| 2026-02-22 | Pudenz Shane | Tax withheld | 462 | $44.86 |
| 2026-02-22 | Metzger Steven D | Tax withheld | 983 | $44.86 |
| 2026-02-22 | Quezada Carlos R. | Tax withheld | 1.2K | $44.86 |
| 2026-02-21 | Pudenz Shane | Tax withheld | 784 | $44.86 |
| 2026-02-21 | Quezada Carlos R. | Tax withheld | 2.7K | $44.86 |
| 2026-02-21 | Metzger Steven D | Tax withheld | 1.7K | $44.86 |
| 2026-02-21 | Mazzu Sam A. III | Tax withheld | 109 | $44.86 |
| 2026-02-21 | Franch Rob Paul | Tax withheld | 869 | $44.86 |
| 2026-02-19 | Mazzu Sam A. III | Tax withheld | 164 | $44.22 |
| 2026-02-19 | Shanley Kathryn | Tax withheld | 579 | $44.22 |
| 2026-02-19 | Franch Rob Paul | Tax withheld | 671 | $44.22 |
| 2026-02-19 | Pudenz Shane | Tax withheld | 671 | $44.22 |
| 2026-02-19 | Metzger Steven D | Tax withheld | 1.1K | $44.22 |
| 2026-02-19 | Enwright John | Tax withheld | 963 | $44.22 |
| 2026-02-19 | Quezada Carlos R. | Tax withheld | 1.6K | $44.22 |
| 2025-12-31 | BRUDNICKI GREG M | Grant | 118 | $42.30 |
| 2025-12-31 | Webb Somer | Grant | 584 | $42.30 |
| 2025-12-31 | Sanders Julie | Grant | 188 | $42.30 |
| 2025-12-31 | Robinson Edmondo | Grant | 601 | $42.30 |
| 2025-10-07 | Quezada Carlos R. | Sell | 4.2K | $46.14 |
| 2025-09-30 | BRUDNICKI GREG M | Grant | 112 | $44.54 |
| 2025-09-30 | Webb Somer | Grant | 555 | $44.54 |
| 2025-09-30 | Sanders Julie | Grant | 179 | $44.54 |
| 2025-09-30 | Robinson Edmondo | Grant | 572 | $44.54 |
| 2025-08-27 | Pudenz Shane | Sell | 13K | $44.36 |
| 2025-08-07 | Quezada Carlos R. | Sell | 4.2K | $47.35 |
| 2025-07-07 | Metzger Steven D | Sell | 348 | $46.78 |
| 2025-06-30 | Robinson Edmondo | Grant | 556 | $45.74 |
| 2025-06-30 | BRUDNICKI GREG M | Grant | 109 | $45.74 |
| 2025-06-30 | Webb Somer | Grant | 540 | $45.74 |
| 2025-06-30 | Sanders Julie | Grant | 173 | $45.74 |
| 2025-06-09 | Metzger Steven D | Sell | 1.7K | $44.85 |
| 2025-05-07 | Metzger Steven D | Sell | 3.0K | $40.60 |
| 2025-05-07 | Quezada Carlos R. | Sell | 4.4K | $40.61 |
| 2025-04-29 | Quezada Carlos R. | Sell | 958 | $40.02 |
| 2025-04-28 | Metzger Steven D | Sell | 2.5K | $40.01 |
| 2025-04-28 | Quezada Carlos R. | Sell | 2.2K | $40.02 |
| 2025-04-23 | Metzger Steven D | Sell | 3.5K | $40.09 |
| 2025-04-23 | Quezada Carlos R. | Sell | 1.4K | $40.12 |
| 2025-03-31 | BRUDNICKI GREG M | Grant | 129 | $38.75 |
| 2025-03-31 | Webb Somer | Grant | 638 | $38.75 |
| 2025-03-31 | Sanders Julie | Grant | 618 | $38.75 |
| 2025-03-31 | Robinson Edmondo | Grant | 610 | $38.75 |
| 2025-02-22 | Elliott Paul Donald | Tax withheld | 979 | $40.75 |
| 2025-02-22 | Quezada Carlos R. | Tax withheld | 1.9K | $40.75 |
| 2025-02-22 | Franch Rob Paul | Tax withheld | 952 | $40.75 |
| 2025-02-22 | Metzger Steven D | Tax withheld | 1.6K | $40.75 |
| 2025-02-22 | Phillips Shawn R | Tax withheld | 1.1K | $40.75 |
| 2025-02-21 | Elliott Paul Donald | Tax withheld | 1.4K | $40.75 |
| 2025-02-21 | Quezada Carlos R. | Tax withheld | 4.3K | $40.75 |
| 2025-02-21 | Metzger Steven D | Tax withheld | 2.8K | $40.75 |
| 2025-02-21 | Phillips Shawn R | Tax withheld | 1.6K | $40.75 |
| 2025-02-21 | Franch Rob Paul | Tax withheld | 1.4K | $40.75 |
| 2025-02-19 | Phillips Shawn R | Grant | 6.7K | $41.54 |
| 2025-02-19 | Phillips Shawn R | Option exercise | 33K | $39.85 |
| 2025-02-19 | Phillips Shawn R | Tax withheld | 14K | $39.85 |
| 2025-02-19 | Elliott Paul Donald | Grant | 6.5K | $41.54 |
| 2025-02-19 | Elliott Paul Donald | Option exercise | 33K | $39.85 |
| 2025-02-19 | Elliott Paul Donald | Tax withheld | 9.3K | $39.85 |
| 2025-02-19 | Quezada Carlos R. | Grant | 19K | $41.54 |
| 2025-02-19 | Quezada Carlos R. | Option exercise | 56K | $39.85 |
| 2025-02-19 | Quezada Carlos R. | Tax withheld | 18K | $39.85 |
| 2025-02-19 | Metzger Steven D | Grant | 13K | $41.54 |
| 2025-02-19 | Metzger Steven D | Option exercise | 56K | $39.85 |
| 2025-02-19 | Metzger Steven D | Tax withheld | 24K | $39.85 |
| 2025-02-19 | Franch Rob Paul | Grant | 6.6K | $41.54 |
| 2025-02-19 | Shanley Kathryn | Grant | 5.9K | $41.54 |
| 2025-02-19 | Enwright John | Grant | 7.7K | $41.54 |
| 2024-12-31 | Webb Somer | Grant | 620 | $39.85 |
| 2024-12-31 | Meehan Douglas B. | Grant | 941 | $39.85 |
| 2024-12-31 | Sanders Julie | Grant | 601 | $39.85 |
| 2024-12-31 | BRUDNICKI GREG M | Grant | 125 | $39.85 |
| 2024-12-31 | Robinson Edmondo | Grant | 386 | $39.85 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-14 | Shareholder voteExhibits | filing ↗ |
| 2026-05-06 | Material agreementResultsExhibits | filing ↗ |
| 2026-02-26 | ResultsExhibits | filing ↗ |
| 2026-01-16 | Exec/director changeReg FDExhibits | filing ↗ |
| 2025-11-05 | ResultsExhibits | filing ↗ |
| 2025-08-07 | ResultsExhibits | filing ↗ |
| 2025-05-14 | Shareholder voteExhibits | filing ↗ |
| 2025-04-30 | ResultsExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-14 | 2026-05-14 | 0001016281-26-000039 ↗ |
| 10-Q | 2026-05-07 | 2026-03-31 | 0001016281-26-000037 ↗ |
| 8-K | 2026-05-06 | 2026-05-06 | 0001104659-26-056265 ↗ |
| 10-K | 2026-02-26 | 2025-12-31 | 0001016281-26-000021 ↗ |
| 8-K | 2026-02-26 | 2026-02-25 | 0001016281-26-000016 ↗ |
| 8-K | 2026-01-16 | 2026-01-16 | 0001016281-26-000010 ↗ |
| 10-Q | 2025-11-06 | 2025-09-30 | 0001016281-25-000128 ↗ |
| 8-K | 2025-11-05 | 2025-11-05 | 0001016281-25-000125 ↗ |
| 8-K | 2025-08-07 | 2025-08-06 | 0001016281-25-000099 ↗ |
| 10-Q | 2025-08-07 | 2025-06-30 | 0001016281-25-000103 ↗ |
| 8-K | 2025-05-14 | 2025-05-14 | 0001016281-25-000083 ↗ |
| 10-Q | 2025-05-02 | 2025-03-31 | 0001016281-25-000077 ↗ |