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Side-by-side financial comparison of Bitcoin Depot Inc. (BTM) and CARRIAGE SERVICES INC (CSV). Click either name above to swap in a different company.
Bitcoin Depot Inc. is the larger business by last-quarter revenue ($162.5M vs $105.5M, roughly 1.5× CARRIAGE SERVICES INC). CARRIAGE SERVICES INC runs the higher net margin — 11.6% vs 3.4%, a 8.2% gap on every dollar of revenue. On growth, Bitcoin Depot Inc. posted the faster year-over-year revenue change (20.1% vs 8.0%). CARRIAGE SERVICES INC produced more free cash flow last quarter ($6.2M vs $2.5M). Over the past eight quarters, CARRIAGE SERVICES INC's revenue compounded faster (1.0% CAGR vs -4.9%).
Bitcoin Depot Inc. is one of the largest cryptocurrency ATM operators across North America. It provides retail consumers with accessible in-person kiosks to buy and sell Bitcoin and other leading digital assets, alongside online crypto purchase services via bank transfer. Its self-service kiosks are located in high-traffic retail spaces including grocery stores, gas stations and convenience stores.
Jardine Cycle & Carriage Limited is the investment holding company of Jardines in Southeast Asia. It is currently 75% held by the conglomerate.
BTM vs CSV — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $162.5M | $105.5M |
| Net Profit | $5.5M | $12.3M |
| Gross Margin | — | 34.8% |
| Operating Margin | 7.3% | 23.3% |
| Net Margin | 3.4% | 11.6% |
| Revenue YoY | 20.1% | 8.0% |
| Net Profit YoY | 690.4% | 24.5% |
| EPS (diluted) | $0.08 | $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 | — | $105.5M | ||
| Q3 25 | $162.5M | $102.7M | ||
| Q2 25 | $172.1M | $102.1M | ||
| Q1 25 | $164.2M | $107.1M | ||
| Q4 24 | — | $97.7M | ||
| Q3 24 | $135.3M | $100.7M | ||
| Q2 24 | $163.1M | $102.3M | ||
| Q1 24 | $138.5M | $103.5M |
| Q4 25 | — | $12.3M | ||
| Q3 25 | $5.5M | $6.6M | ||
| Q2 25 | $6.1M | $11.7M | ||
| Q1 25 | $4.2M | $20.9M | ||
| Q4 24 | — | $9.9M | ||
| Q3 24 | $-939.0K | $9.9M | ||
| Q2 24 | $-2.6M | $6.3M | ||
| Q1 24 | $-1.5M | $7.0M |
| Q4 25 | — | 34.8% | ||
| Q3 25 | — | 35.3% | ||
| Q2 25 | — | 35.2% | ||
| Q1 25 | — | 35.3% | ||
| Q4 24 | — | 34.4% | ||
| Q3 24 | — | 35.2% | ||
| Q2 24 | — | 36.2% | ||
| Q1 24 | — | 36.0% |
| Q4 25 | — | 23.3% | ||
| Q3 25 | 7.3% | 17.0% | ||
| Q2 25 | 9.2% | 23.5% | ||
| Q1 25 | 10.8% | 29.5% | ||
| Q4 24 | — | 21.6% | ||
| Q3 24 | 4.1% | 22.7% | ||
| Q2 24 | 4.7% | 18.0% | ||
| Q1 24 | 0.5% | 18.8% |
| Q4 25 | — | 11.6% | ||
| Q3 25 | 3.4% | 6.4% | ||
| Q2 25 | 3.5% | 11.5% | ||
| Q1 25 | 2.6% | 19.5% | ||
| Q4 24 | — | 10.1% | ||
| Q3 24 | -0.7% | 9.8% | ||
| Q2 24 | -1.6% | 6.1% | ||
| Q1 24 | -1.1% | 6.7% |
| Q4 25 | — | $0.76 | ||
| Q3 25 | $0.08 | $0.41 | ||
| Q2 25 | $0.16 | $0.74 | ||
| Q1 25 | $0.20 | $1.34 | ||
| Q4 24 | — | $0.62 | ||
| Q3 24 | $-0.05 | $0.63 | ||
| Q2 24 | $-0.13 | $0.40 | ||
| Q1 24 | $-0.25 | $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 | $59.3M | $1.7M |
| Total DebtLower is stronger | $67.5M | — |
| Stockholders' EquityBook value | $21.0M | $254.8M |
| Total Assets | $125.3M | $1.3B |
| Debt / EquityLower = less leverage | 3.21× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $1.7M | ||
| Q3 25 | $59.3M | $1.2M | ||
| Q2 25 | $48.0M | $1.4M | ||
| Q1 25 | $35.0M | $4.6M | ||
| Q4 24 | — | $1.2M | ||
| Q3 24 | $32.2M | $1.3M | ||
| Q2 24 | $43.9M | $1.5M | ||
| Q1 24 | $42.2M | $1.7M |
| Q4 25 | — | — | ||
| Q3 25 | $67.5M | — | ||
| Q2 25 | $66.5M | — | ||
| Q1 25 | $56.2M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $44.5M | — | ||
| Q2 24 | $41.2M | — | ||
| Q1 24 | $37.6M | — |
| Q4 25 | — | $254.8M | ||
| Q3 25 | $21.0M | $242.1M | ||
| Q2 25 | $4.7M | $235.4M | ||
| Q1 25 | $-4.6M | $223.1M | ||
| Q4 24 | — | $208.6M | ||
| Q3 24 | $-7.9M | $198.1M | ||
| Q2 24 | $4.4M | $187.9M | ||
| Q1 24 | $5.0M | $179.6M |
| Q4 25 | — | $1.3B | ||
| Q3 25 | $125.3M | $1.3B | ||
| Q2 25 | $109.1M | $1.3B | ||
| Q1 25 | $89.7M | $1.3B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | $87.4M | $1.3B | ||
| Q2 24 | $97.5M | $1.3B | ||
| Q1 24 | $90.1M | $1.3B |
| Q4 25 | — | — | ||
| Q3 25 | 3.21× | — | ||
| Q2 25 | 14.18× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 9.27× | — | ||
| Q1 24 | 7.54× | — |
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 | $6.6M | $14.1M |
| Free Cash FlowOCF − Capex | $2.5M | $6.2M |
| FCF MarginFCF / Revenue | 1.6% | 5.9% |
| Capex IntensityCapex / Revenue | 2.5% | 7.5% |
| Cash ConversionOCF / Net Profit | 1.20× | 1.15× |
| TTM Free Cash FlowTrailing 4 quarters | $27.1M | $40.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $14.1M | ||
| Q3 25 | $6.6M | $24.7M | ||
| Q2 25 | $10.2M | $8.1M | ||
| Q1 25 | $16.3M | $13.8M | ||
| Q4 24 | — | $9.3M | ||
| Q3 24 | $5.8M | $20.9M | ||
| Q2 24 | $10.1M | $2.2M | ||
| Q1 24 | $1.3M | $19.7M |
| Q4 25 | — | $6.2M | ||
| Q3 25 | $2.5M | $18.0M | ||
| Q2 25 | $9.8M | $5.2M | ||
| Q1 25 | $15.9M | $10.6M | ||
| Q4 24 | — | $4.9M | ||
| Q3 24 | $-1.0M | $16.2M | ||
| Q2 24 | $7.6M | $-1.4M | ||
| Q1 24 | $789.0K | $16.2M |
| Q4 25 | — | 5.9% | ||
| Q3 25 | 1.6% | 17.5% | ||
| Q2 25 | 5.7% | 5.1% | ||
| Q1 25 | 9.7% | 9.9% | ||
| Q4 24 | — | 5.0% | ||
| Q3 24 | -0.8% | 16.1% | ||
| Q2 24 | 4.7% | -1.4% | ||
| Q1 24 | 0.6% | 15.6% |
| Q4 25 | — | 7.5% | ||
| Q3 25 | 2.5% | 6.5% | ||
| Q2 25 | 0.2% | 2.8% | ||
| Q1 25 | 0.2% | 3.0% | ||
| Q4 24 | — | 4.5% | ||
| Q3 24 | 5.0% | 4.6% | ||
| Q2 24 | 1.5% | 3.5% | ||
| Q1 24 | 0.4% | 3.4% |
| Q4 25 | — | 1.15× | ||
| Q3 25 | 1.20× | 3.76× | ||
| Q2 25 | 1.67× | 0.69× | ||
| Q1 25 | 3.88× | 0.66× | ||
| Q4 24 | — | 0.94× | ||
| Q3 24 | — | 2.11× | ||
| Q2 24 | — | 0.34× | ||
| Q1 24 | — | 2.83× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BTM
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% |
