← CARRIAGE SERVICES INC
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
| Net loss on divestitures and impairment charges | — | — | $1.2m | $4.8m | $21.4m | $847k | $2.0m | $1.2m | $2.6m | $371k | — | |
| Net Income (Loss) Attributable to Parent | $19.6m |
$37.2m
+89.94%
|
$11.6m
-68.69%
|
$14.5m
+24.80%
|
$16.1m
+10.71%
|
$33.2m
+106.08%
|
$41.4m
+24.80%
|
$33.4m
-19.26%
|
$33.0m
-1.38%
|
$51.5m
+56.30%
|
— | |
| Depreciation, Depletion and Amortization | $15.4m | $16.0m | $17.4m | $17.8m | $19.4m | $20.5m | $19.8m | $21.1m | $22.9m | $24.5m | $27.2m | |
| Amortization of Debt Issuance Costs | $824k | $820k | $532k | $392k | $782k | $576k | $552k | $699k | $622k | $512k | — | |
| Amortization of Intangible Assets | — | — | — | — | $1.3m | $1.3m | $1.3m | $1.4m | $1.4m | $1.2m | — | |
| Depreciation | $11.5m | $11.0m | $12.0m | $12.4m | $13.0m | $12.6m | $13.3m | $14.2m | $13.7m | $13.2m | $26.0m | |
| Depreciation, Nonproduction | — | $12.6m | $13.8m | $13.8m | $14.4m | $13.8m | $13.7m | $14.7m | $14.3m | — | $27.2m | |
| Other Depreciation and Amortization | $15.4m | $16.0m | $17.4m | $17.8m | $19.4m | $20.5m | $19.8m | $21.1m | $22.9m | $24.5m | — | |
| Amortization of intangibles | — | — | $1.2m | $1.2m | $1.3m | $1.3m | $1.3m | $1.4m | $1.4m | $1.2m | $1.2m | |
| Amortization and accretion of debt | $3.9m | $4.3m | $2.2m | $241k | $216k | $439k | $493k | $515k | $539k | $563k | — | |
| Deferred Income Tax Expense (Benefit) | $4.9m | ($11.7m) | $3.8m | $10.1m | $4.6m | ($692k) | $3.0m | $3.3m | ($698k) | $4.0m | $3.1m | |
| Share-based Payment Arrangement, Noncash Expense | $3.2m | $3.2m | $6.6m | $2.2m | $3.4m | $5.5m | $6.0m | $7.7m | $6.5m | $7.8m | $8.0m | |
| Payment, Tax Withholding, Share-based Payment Arrangement | — | $509k | $651k | $194k | $348k | $2.6m | $327k | $252k | $593k | $8.3m | — | |
| Stock-based compensation expense | $3.2m | $3.2m | $6.6m | $2.2m | $3.4m | $5.5m | $6.0m | $7.7m | $6.5m | $7.8m | $8.0m | |
| Goodwill and Intangible Asset Impairment | — | — | $800k | $500k | $5.7m | $1.0m | $900k | $900k | — | — | — | |
| Goodwill, Impairment Loss | $145k | $0 | $1.0m | $963k | — | — | $400k | — | $0 | $0 | — | |
| Impairment of Intangible Assets (Excluding Goodwill) | — | — | — | — | — | — | — | $200k | — | — | — | |
| Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | — | — | — | — | — | — | — | — | — | $0 | — | |
| Other Nonoperating Income (Expense) | ($1.8m) | $1.1m | ($1.2m) | ($4.1m) | $152k | ($84k) | $82k | $1.4m | ($61k) | $971k | — | |
| Nonoperating Income (Expense) | ($18.0m) | — | — | — | — | — | — | — | — | — | — | |
| Changes in operating assets and liabilities: | ||||||||||||
| Accounts and preneed receivables | ($5.2m) | ($4.3m) | ($5.1m) | ($5.8m) | ($4.3m) | ($4.1m) | ($5.4m) | ($8.1m) | ($24.6m) | ($28.2m) | — | |
| Increase (Decrease) in Inventories | ($2.0m) | ($1.4m) | $159k | $2.8m | ($3.5m) | $4.4m | ($2.3m) | $72k | ($1.1m) | $1.7m | ($5.9m) | |
| Inventories, prepaid, and other current assets | $2.0m | $1.4m | ($159k) | ($2.8m) | $3.5m | ($4.4m) | $2.3m | ($72k) | $1.1m | ($1.7m) | — | |
| Accounts payable | $2.1m | ($3.6m) | $2.0m | ($580k) | $2.7m | $522k | ($101k) | $169k | $1.6m | ($369k) | ($1.6m) | |
| Accrued and other liabilities | $202k | ($385k) | $4.0m | $1.3m | $10.8m | $3.5m | ($9.1m) | $3.0m | $3.6m | ($1.8m) | — | |
| Gain (Loss) on Disposition of Other Assets | — | — | — | — | ($251k) | — | — | — | — | — | — | |
| Proceeds from divestitures and sale of other assets | $4.4m | $5.7m | $0 | $967k | $8.5m | $7.9m | $5.0m | $4.1m | $12.1m | $44.5m | — | |
| Net Cash Provided by (Used in) Operating Activities | $49.5m |
$45.2m
-8.55%
|
$49.0m
+8.32%
|
$43.2m
-11.79%
|
$82.9m
+91.86%
|
$84.2m
+1.61%
|
$61.0m
-27.56%
|
$75.6m
+23.87%
|
$52.0m
-31.21%
|
$60.7m
+16.73%
|
$61.3m
+0.94%
|
|
| Cash flows from investing activities: | ||||||||||||
| Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | — | — | — | — | — | ($847k) | ($2.0m) | ($1.2m) | ($2.6m) | ($371k) | $7.3m | |
| Net gain on property damage, net of insurance claims | — | $0 | $0 | ($879k) | ($97k) | $0 | ($3.5m) | ($343k) | ($417k) | $0 | — | |
| Net gain on sale of excess real property | — | $0 | $0 | $121k | $19k | $0 | ($155k) | ($1.4m) | $0 | ($993k) | — | |
| Acquisitions of businesses and real property | ($26.6m) | ($28.8m) | ($38.0m) | ($140.9m) | ($28.0m) | ($3.3m) | ($33.9m) | ($44.5m) | $0 | $59.0m | — | |
| Payments to Acquire Property, Plant, and Equipment | $16.8m | $16.4m | $13.5m | $15.4m | $15.2m | $24.9m | $26.1m | $18.0m | $16.1m | $20.6m | ($82.9m) | |
| Preneed funeral and cemetery trust investments | ($14.5m) | ($10.0m) | $24.4m | ($6.5m) | ($5.0m) | ($31.3m) | ($17.7m) | ($775k) | $1.4m | ($17.7m) | — | |
| Payments to Acquire Businesses, Net of Cash Acquired | $26.6m | $28.8m | $38.0m | $140.9m | $28.0m | $3.3m | $33.9m | $44.5m | $0 | $59.0m | $0 | |
| Net Cash Provided by (Used in) Investing Activities | ($45.3m) | ($39.5m) | ($51.5m) | ($158.9m) | ($34.4m) | ($12.5m) | ($52.5m) | ($57.0m) | ($3.6m) | ($35.2m) | ($61.4m) | |
| Cash flows from financing activities: | ||||||||||||
| Gain (Loss) on Extinguishment of Debt | ($567k) | $0 | — | — | ($6k) | ($23.8m) | ($190k) | $0 | $0 | — | — | |
| Debt and Equity Securities, Gain (Loss) | — | ($838k) | ($1.4m) | ($377k) | ($387k) | ($118k) | ($2.4m) | ($1.6m) | ($2.4m) | — | — | |
| Borrowings from the credit facility | $71.2m | $106.9m | $124.5m | $175.0m | $109.5m | $266.2m | $155.4m | $86.1m | $54.9m | $137.5m | — | |
| Land purchased in exchange for debt | — | — | — | — | — | — | — | $2.5m | $0 | $0 | — | |
| Payment of debt issuance costs for the credit facility | $0 | $0 | $1.8m | $891k | $0 | $2.2m | ($922k) | $0 | ($781k) | $0 | — | |
| Repayments of Long-term Debt | $11.2m | $11.2m | $127.5m | $0 | — | — | — | — | — | — | ($166.0m) | |
| Payments on acquisition debt and obligations under finance leases | — | — | $1.9m | $2.3m | $1.7m | $1.3m | ($882k) | ($1.2m) | ($1.1m) | ($1.1m) | — | |
| Payments for Repurchase of Common Stock | $0 | $16.4m | $16.3m | $9.2m | $0 | $140.0m | $36.7m | $0 | $0 | — | — | |
| Payments of Ordinary Dividends, Common Stock | $2 | $4 | $6 | $5 | $6 | $7 | $7 | $7 | $7 | $7 | ($7.1m) | |
| Dividends paid on common stock | ($2) | ($4) | ($6) | ($5) | ($6) | ($7) | ($7) | ($7) | ($7) | ($7) | ($7.1m) | |
| Net Cash Provided by (Used in) Financing Activities | ($1.4m) |
($8.1m)
-466.11%
|
$2.2m
+127.08%
|
$115.7m
+5175.39%
|
($48.3m)
-141.75%
|
($71.5m)
-47.87%
|
($8.5m)
+88.09%
|
($18.2m)
-114.20%
|
($48.7m)
-167.19%
|
($25.0m)
+48.68%
|
$1.3m
+105.00%
|
|
| Net increase (decrease) in cash and cash equivalents | $2.8m | ($2.3m) | ($308k) | $72k | $173k | $259k | $22k | $353k | ($358k) | $523k | — | |
| Cash and cash equivalents at beginning of period | — | — | $644k | $716k | $889k | $1.1m | $1.2m | $1.5m | $1.2m | $1.7m | — | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | — | $889k | $1.1m | $1.2m | $1.5m | $1.2m | $1.7m | $2.5m | |
| Additional Supplementary Disclosures | ||||||||||||
| Additional Supplementary Disclosures | ||||||||||||
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | $19.6m | $37.2m | $11.6m | $14.5m | $16.1m | $33.2m | $41.4m | $33.4m | $33.0m | $51.5m | — | |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | $0 | — | — | — | — | — | — | — | — | — | — | |
| Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | $0 | — | — | — | — | — | — | — | — | — | — | |
| Gain (Loss) on Disposition of Assets | — | — | — | — | — | — | — | — | — | ($61k) | — | |
| Gain (Loss) on Disposition of Business | ($2.1m) | $710k | ($1.1m) | ($4.1m) | ($21.4m) | ($666k) | ($2.0m) | ($1.2m) | ($2.6m) | ($371k) | — | |
| Income Tax Expense (Benefit) | $12.7m | $13.1m | $5.8m | $7.4m | $8.0m | $12.3m | $16.2m | $13.2m | $16.1m | $18.8m | — | |
| Interest Expense Nonoperating | — | — | — | — | — | — | — | — | $32.1m | $28.4m | — | |
| Additional Financial Items | ||||||||||||
| Accretion Expense | — | $4.3m | $2.2m | $241k | $216k | $439k | $493k | $515k | $539k | $563k | — | |
| Gain (Loss) on Sale of Properties | — | — | — | — | — | $900k | $1.4m | $1.4m | $300k | — | — | |
| General and Administrative Expense | $27.9m | $26.3m | $30.8m | $25.9m | $25.8m | $33.9m | $37.5m | $42.1m | $59.0m | $48.6m | — | |
| Goodwill | $275.5m | $288.0m | $303.9m | $398.3m | $393.0m | $392.0m | $410.1m | $423.6m | $414.9m | $427.9m | — | |
| Operating Expenses | $29.4m | $27.9m | $32.6m | $27.3m | — | — | — | — | — | — | — | |
| Realized Investment Gains (Losses) | — | — | — | — | — | — | — | $8.6m | — | — | — | |
| Provision for credit losses | $2.1m | $2.2m | $1.8m | $1.6m | $2.3m | $1.8m | $2.8m | $3.0m | $3.4m | $3.6m | — | |
| Intangible and other non-current assets | ($1.2m) | $149k | ($390k) | ($251k) | ($1.0m) | ($1.2m) | ($1.9m) | ($3.2m) | ($4.4m) | ($3.5m) | — | |
| Deferred preneed funeral and cemetery revenue | ($640k) | $1.4m | $6.5m | $168k | $528k | $5.0m | $1.3m | $15.0m | $6.9m | ($1.8m) | — | |
| Deferred preneed funeral and cemetery receipts held in trust | $14.0m | $9.2m | ($29.9m) | $5.5m | $5.7m | $29.1m | $17.7m | ($966k) | ($3.2m) | $22.7m | — | |
| Proceeds from insurance claims | — | $0 | $0 | $1.4m | $248k | $7.8m | $2.4m | $1.4m | $403k | $0 | — | |
| Payments against the credit facility | ($96.1m) | ($82.6m) | ($189.4m) | ($118.3m) | ($146.1m) | ($158.0m) | ($120.1m) | ($97.7m) | ($97.0m) | ($147.8m) | — | |
| Proceeds from the exercise of stock options and employee stock purchase plan contributions | $870k | $1.5m | $1.2m | $1.4m | $1.2m | $2.6m | $1.7m | $1.5m | $2.6m | $1.7m | — | |
| Gain (Loss) on Derivative Instruments, Net, Pretax | — | — | — | — | — | — | — | — | — | $1.5m | — | |
| Supplemental disclosure of cash flow information: | ||||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | — | — | — | — | — | — | — | $34.7m | $30.6m | $26.8m | — | |
| Income Taxes Paid, Net | ($578k) | ($509k) | ($651k) | ($194k) | ($348k) | ($2.6m) | ($327k) | ($252k) | ($593k) | $17.0m | — |