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Side-by-side financial comparison of SAUL CENTERS, INC. (BFS) and CARRIAGE SERVICES INC (CSV). Click either name above to swap in a different company.
CARRIAGE SERVICES INC is the larger business by last-quarter revenue ($105.5M vs $75.1M, roughly 1.4× SAUL CENTERS, INC.). CARRIAGE SERVICES INC runs the higher net margin — 11.6% vs 8.7%, a 3.0% gap on every dollar of revenue. On growth, SAUL CENTERS, INC. posted the faster year-over-year revenue change (10.6% vs 8.0%). Over the past eight quarters, SAUL CENTERS, INC.'s revenue compounded faster (6.2% CAGR vs 1.0%).
Saul Centers, Inc. is a self-administered real estate investment trust (REIT) headquartered in the United States. It primarily owns, operates, and develops high-quality shopping centers, mixed-use properties, and multifamily residential assets, with its core portfolio concentrated in the Washington D.C. metropolitan area and other select high-growth U.S. regional markets.
Jardine Cycle & Carriage Limited is the investment holding company of Jardines in Southeast Asia. It is currently 75% held by the conglomerate.
BFS vs CSV — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $75.1M | $105.5M |
| Net Profit | $6.5M | $12.3M |
| Gross Margin | — | 34.8% |
| Operating Margin | 65.4% | 23.3% |
| Net Margin | 8.7% | 11.6% |
| Revenue YoY | 10.6% | 8.0% |
| Net Profit YoY | -19.6% | 24.5% |
| EPS (diluted) | $0.15 | $0.76 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $75.1M | $105.5M | ||
| Q3 25 | $72.0M | $102.7M | ||
| Q2 25 | $70.8M | $102.1M | ||
| Q1 25 | $71.9M | $107.1M | ||
| Q4 24 | $67.9M | $97.7M | ||
| Q3 24 | $67.3M | $100.7M | ||
| Q2 24 | $66.9M | $102.3M | ||
| Q1 24 | $66.7M | $103.5M |
| Q4 25 | $6.5M | $12.3M | ||
| Q3 25 | $10.5M | $6.6M | ||
| Q2 25 | $10.7M | $11.7M | ||
| Q1 25 | $9.8M | $20.9M | ||
| Q4 24 | $8.1M | $9.9M | ||
| Q3 24 | $14.5M | $9.9M | ||
| Q2 24 | $14.4M | $6.3M | ||
| Q1 24 | $13.6M | $7.0M |
| Q4 25 | — | 34.8% | ||
| Q3 25 | — | 35.3% | ||
| Q2 25 | — | 35.2% | ||
| Q1 25 | — | 35.3% | ||
| Q4 24 | — | 34.4% | ||
| Q3 24 | 73.6% | 35.2% | ||
| Q2 24 | 74.2% | 36.2% | ||
| Q1 24 | 72.8% | 36.0% |
| Q4 25 | 65.4% | 23.3% | ||
| Q3 25 | 69.1% | 17.0% | ||
| Q2 25 | 68.7% | 23.5% | ||
| Q1 25 | 66.5% | 29.5% | ||
| Q4 24 | 82.9% | 21.6% | ||
| Q3 24 | 72.8% | 22.7% | ||
| Q2 24 | 75.0% | 18.0% | ||
| Q1 24 | 72.4% | 18.8% |
| Q4 25 | 8.7% | 11.6% | ||
| Q3 25 | 14.6% | 6.4% | ||
| Q2 25 | 15.1% | 11.5% | ||
| Q1 25 | 13.6% | 19.5% | ||
| Q4 24 | 11.9% | 10.1% | ||
| Q3 24 | 21.5% | 9.8% | ||
| Q2 24 | 21.6% | 6.1% | ||
| Q1 24 | 20.4% | 6.7% |
| Q4 25 | $0.15 | $0.76 | ||
| Q3 25 | $0.32 | $0.41 | ||
| Q2 25 | $0.33 | $0.74 | ||
| Q1 25 | $0.29 | $1.34 | ||
| Q4 24 | $0.22 | $0.62 | ||
| Q3 24 | $0.48 | $0.63 | ||
| Q2 24 | $0.48 | $0.40 | ||
| Q1 24 | $0.45 | $0.45 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $8.7M | $1.7M |
| Total DebtLower is stronger | $468.4M | — |
| Stockholders' EquityBook value | $307.8M | $254.8M |
| Total Assets | $2.2B | $1.3B |
| Debt / EquityLower = less leverage | 1.52× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.7M | $1.7M | ||
| Q3 25 | $11.8M | $1.2M | ||
| Q2 25 | $5.3M | $1.4M | ||
| Q1 25 | $6.5M | $4.6M | ||
| Q4 24 | $10.3M | $1.2M | ||
| Q3 24 | $7.2M | $1.3M | ||
| Q2 24 | $6.9M | $1.5M | ||
| Q1 24 | $7.1M | $1.7M |
| Q4 25 | $468.4M | — | ||
| Q3 25 | $1.6B | — | ||
| Q2 25 | $1.6B | — | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $455.8M | — | ||
| Q3 24 | $1.5B | — | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.4B | — |
| Q4 25 | $307.8M | $254.8M | ||
| Q3 25 | $316.6M | $242.1M | ||
| Q2 25 | $322.4M | $235.4M | ||
| Q1 25 | $328.4M | $223.1M | ||
| Q4 24 | $335.8M | $208.6M | ||
| Q3 24 | $341.8M | $198.1M | ||
| Q2 24 | $345.7M | $187.9M | ||
| Q1 24 | $347.1M | $179.6M |
| Q4 25 | $2.2B | $1.3B | ||
| Q3 25 | $2.2B | $1.3B | ||
| Q2 25 | $2.1B | $1.3B | ||
| Q1 25 | $2.1B | $1.3B | ||
| Q4 24 | $2.1B | $1.3B | ||
| Q3 24 | $2.1B | $1.3B | ||
| Q2 24 | $2.1B | $1.3B | ||
| Q1 24 | $2.0B | $1.3B |
| Q4 25 | 1.52× | — | ||
| Q3 25 | 5.02× | — | ||
| Q2 25 | 4.85× | — | ||
| Q1 25 | 4.70× | — | ||
| Q4 24 | 1.36× | — | ||
| Q3 24 | 4.37× | — | ||
| Q2 24 | 4.17× | — | ||
| Q1 24 | 4.06× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $99.8M | $14.1M |
| Free Cash FlowOCF − Capex | — | $6.2M |
| FCF MarginFCF / Revenue | — | 5.9% |
| Capex IntensityCapex / Revenue | — | 7.5% |
| Cash ConversionOCF / Net Profit | 15.35× | 1.15× |
| TTM Free Cash FlowTrailing 4 quarters | — | $40.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $99.8M | $14.1M | ||
| Q3 25 | $20.6M | $24.7M | ||
| Q2 25 | $26.6M | $8.1M | ||
| Q1 25 | $30.4M | $13.8M | ||
| Q4 24 | $121.2M | $9.3M | ||
| Q3 24 | $26.5M | $20.9M | ||
| Q2 24 | $32.1M | $2.2M | ||
| Q1 24 | $33.8M | $19.7M |
| Q4 25 | — | $6.2M | ||
| Q3 25 | — | $18.0M | ||
| Q2 25 | — | $5.2M | ||
| Q1 25 | — | $10.6M | ||
| Q4 24 | — | $4.9M | ||
| Q3 24 | $-28.3M | $16.2M | ||
| Q2 24 | $-12.5M | $-1.4M | ||
| Q1 24 | $-11.7M | $16.2M |
| Q4 25 | — | 5.9% | ||
| Q3 25 | — | 17.5% | ||
| Q2 25 | — | 5.1% | ||
| Q1 25 | — | 9.9% | ||
| Q4 24 | — | 5.0% | ||
| Q3 24 | -42.1% | 16.1% | ||
| Q2 24 | -18.7% | -1.4% | ||
| Q1 24 | -17.6% | 15.6% |
| Q4 25 | — | 7.5% | ||
| Q3 25 | — | 6.5% | ||
| Q2 25 | — | 2.8% | ||
| Q1 25 | — | 3.0% | ||
| Q4 24 | — | 4.5% | ||
| Q3 24 | 81.5% | 4.6% | ||
| Q2 24 | 66.7% | 3.5% | ||
| Q1 24 | 68.3% | 3.4% |
| Q4 25 | 15.35× | 1.15× | ||
| Q3 25 | 1.97× | 3.76× | ||
| Q2 25 | 2.48× | 0.69× | ||
| Q1 25 | 3.10× | 0.66× | ||
| Q4 24 | 14.98× | 0.94× | ||
| Q3 24 | 1.83× | 2.11× | ||
| Q2 24 | 2.22× | 0.34× | ||
| Q1 24 | 2.48× | 2.83× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BFS
Segment breakdown not available.
CSV
| Propertyand Merchandise | $47.8M | 45% |
| Cemetery Interment Rights | $24.8M | 23% |
| Merchandise | $18.9M | 18% |
| Other Revenue | $10.2M | 10% |
| Other | $3.9M | 4% |
