Latest Ratios: P/E Ratio 12.0x · EV/EBITDA 9.5x · ROE 22.2%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $618M | $661M | $615M | $387M | $433M | $1.2B | $566M | $461M | $285M | $455M | $500M |
| Enterprise Value | $1.2B | $1.2B | $1.2B | $990M | $1.0B | $1.8B | $1.0B | $980M | $651M | $815M | $837M |
| P/E Ratio → | 12.00 | 13.02 | 18.98 | 11.69 | 10.47 | 35.60 | 35.19 | 32.00 | 24.60 | 12.30 | 25.57 |
| P/S Ratio | 1.48 | 1.58 | 1.52 | 1.01 | 1.17 | 3.13 | 1.72 | 1.68 | 1.06 | 1.76 | 2.01 |
| P/B Ratio | 2.39 | 2.60 | 2.95 | 2.23 | 3.15 | 9.19 | 2.35 | 2.03 | 1.29 | 2.30 | 2.81 |
| P/FCF | 15.44 | 16.51 | 17.14 | 29.62 | 12.38 | 19.83 | 8.36 | 16.56 | 8.00 | 15.80 | 18.98 |
| P/OCF | 10.19 | 10.90 | 11.84 | 5.11 | 7.09 | 13.97 | 6.83 | 10.67 | 5.80 | 10.07 | 10.11 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.93 | 2.91 | 2.59 | 2.82 | 4.67 | 3.17 | 3.58 | 2.43 | 3.16 | 3.37 |
| EV / EBITDA | 9.53 | 9.88 | 14.43 | 9.68 | 10.48 | 15.20 | 13.39 | 13.99 | 10.71 | 12.55 | 12.75 |
| EV / EBIT | 12.04 | 12.40 | 14.30 | 11.97 | 12.57 | 25.15 | 18.19 | 20.34 | 15.65 | 16.27 | 17.49 |
| EV / FCF | — | 30.52 | 32.73 | 75.83 | 29.88 | 29.56 | 15.41 | 35.21 | 18.27 | 28.25 | 31.75 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 35.1% | 35.1% | 35.5% | 32.5% | 32.2% | 34.5% | 32.2% | 29.0% | 28.3% | 29.8% | 32.1% |
| Operating Margin | 23.5% | 23.5% | 20.2% | 21.2% | 21.5% | 24.9% | 17.4% | 19.1% | 16.2% | 19.0% | 20.2% |
| Net Profit Margin | 12.3% | 12.3% | 8.2% | 8.7% | 11.2% | 8.8% | 4.9% | 5.3% | 4.3% | 14.4% | 7.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 22.2% | 22.2% | 17.3% | 21.5% | 31.2% | 18.0% | 6.9% | 6.5% | 5.6% | 19.8% | 11.7% |
| ROA | 3.9% | 3.9% | 2.6% | 2.7% | 3.5% | 2.9% | 1.4% | 1.4% | 1.3% | 4.1% | 2.3% |
| ROIC | 9.3% | 9.3% | 7.9% | 8.0% | 8.2% | 9.9% | 5.9% | 5.9% | 5.7% | 6.9% | 7.5% |
| ROCE | 7.8% | 7.8% | 6.7% | 6.8% | 7.0% | 8.5% | 5.2% | 5.3% | 4.9% | 5.7% | 6.1% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.21 | 2.21 | 2.69 | 3.49 | 4.47 | 4.52 | 1.99 | 2.29 | 1.65 | 1.82 | 1.91 |
| Debt / EBITDA | 4.55 | 4.55 | 6.89 | 5.91 | 6.15 | 5.01 | 6.14 | 7.42 | 6.03 | 5.55 | 5.18 |
| Net Debt / Equity | — | 2.20 | 2.68 | 3.48 | 4.46 | 4.51 | 1.99 | 2.29 | 1.65 | 1.82 | 1.89 |
| Net Debt / EBITDA | 4.54 | 4.54 | 6.87 | 5.90 | 6.14 | 5.00 | 6.13 | 7.41 | 6.02 | 5.53 | 5.13 |
| Debt / FCF | — | 14.01 | 15.59 | 46.21 | 17.50 | 9.73 | 7.05 | 18.65 | 10.27 | 12.46 | 12.77 |
| Interest Coverage | 3.48 | 3.48 | 2.56 | 2.28 | 3.21 | 2.74 | 1.75 | 1.87 | 1.78 | 2.90 | 3.07 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.98 | 0.98 | 0.77 | 0.82 | 0.84 | 0.66 | 0.73 | 1.12 | 0.84 | 0.71 | 0.74 |
| Quick Ratio | 0.84 | 0.84 | 0.63 | 0.65 | 0.67 | 0.54 | 0.58 | 0.92 | 0.65 | 0.55 | 0.61 |
| Cash Ratio | 0.03 | 0.03 | 0.02 | 0.03 | 0.03 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.07 |
| Asset Turnover | — | 0.31 | 0.32 | 0.30 | 0.31 | 0.32 | 0.29 | 0.24 | 0.29 | 0.28 | 0.28 |
| Inventory Turnover | 34.88 | 34.88 | 32.93 | 30.94 | 32.96 | 33.54 | 30.79 | 27.83 | 28.45 | 27.82 | 27.42 |
| Days Sales Outstanding | — | 35.54 | 27.27 | 26.66 | 24.62 | 28.53 | 27.81 | 33.87 | 27.57 | 29.05 | 30.58 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.2% | 1.1% | 1.1% | 1.7% | 1.6% | 0.6% | 1.1% | 1.2% | 1.9% | 0.8% | 0.5% |
| Payout Ratio | 13.6% | 13.6% | 20.7% | 20.1% | 16.3% | 21.9% | 37.6% | 37.1% | 47.3% | 10.0% | 12.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 8.3% | 7.7% | 5.3% | 8.6% | 9.5% | 2.8% | 2.8% | 3.1% | 4.1% | 8.1% | 3.9% |
| FCF Yield | 6.5% | 6.1% | 5.8% | 3.4% | 8.1% | 5.0% | 12.0% | 6.0% | 12.5% | 6.3% | 5.3% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 8.5% | 11.9% | 0.0% | 2.0% | 5.7% | 3.6% | 0.1% |
| Total Shareholder Yield | 1.2% | 1.1% | 1.1% | 1.7% | 10.0% | 12.5% | 1.1% | 3.2% | 7.6% | 4.4% | 0.6% |
| Shares Outstanding | — | $16M | $15M | $15M | $16M | $18M | $18M | $18M | $18M | $18M | $17M |
High leverage and liquidity
Based on current market data, CSV trades at a forward P/E of 11.32, which appears to discount the company's smaller scale relative to industry leader SCI, suggesting that investors remain skeptical of the firm's ability to sustain organic growth without aggressive, debt-funded acquisition activity.
The PEG ratio of 0.41 implies that the market is pricing in significant growth deceleration, potentially overcompensating for the recent stagnation in mortality-driven volume. While the valuation appears attractive compared to larger peers, it likely reflects the heightened risk profile associated with the company's decentralized operational model and its sensitivity to regional demographic shifts.
As reported in financial statements, CSV's ROIC has remained stagnant, hovering near 2.4% in 2026Q1, which indicates that the company is struggling to generate returns on invested capital that meaningfully exceed its cost of capital in the current interest rate environment.
The persistent low ROIC suggests that the roll-up strategy, while effective at expanding the footprint, has not yet achieved the necessary operational synergies to drive superior capital efficiency. Investors should monitor whether management can improve asset utilization across its 170+ locations to prevent further decay in long-term compounding potential.
According to recent quarterly filings, CSV has maintained a cash conversion cycle averaging approximately 20 days, suggesting that the company's decentralized funeral home managers are effectively balancing the timing of service delivery with the collection of receivables and management of supplier payables.
The consistency in the CCC metric, despite broader revenue volatility, indicates that the underlying service-based business model remains operationally disciplined. However, the low asset turnover of 0.08 highlights the capital-intensive nature of the business, where significant investment in real estate and facilities is required to support relatively modest top-line growth.
Based on an analysis of industry-specific accounting, the Debt-to-Equity ratio is frequently misapplied to CSV, as it fails to account for the significant non-cash goodwill and deferred revenue liabilities that are inherent to the deathcare roll-up business model and its acquisition-heavy growth strategy.
Analysts should instead prioritize Debt-to-EBITDA or interest coverage ratios to assess true solvency, as the D/E ratio can be distorted by accounting adjustments related to pre-need trust funds. Relying solely on D/E may lead to an inaccurate assessment of the company's financial health, as it obscures the actual cash-generating capacity available to service debt obligations.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying CSV stock.
Carriage Services, Inc.'s current P/E ratio is 12.0x. The historical average is 20.2x. This places it at the 36th percentile of its historical range.
Carriage Services, Inc.'s current EV/EBITDA is 9.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.8x.
Carriage Services, Inc.'s return on equity (ROE) is 22.2%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 7.6%.
Based on historical data, Carriage Services, Inc. is trading at a P/E of 12.0x. This is at the 36th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Carriage Services, Inc.'s current dividend yield is 1.15% with a payout ratio of 13.6%.
Carriage Services, Inc. has 35.1% gross margin and 23.5% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Carriage Services, Inc.'s Debt/EBITDA ratio is 4.6x, indicating high leverage. A ratio above 4x may signal elevated financial risk.