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Side-by-side financial comparison of CARRIAGE SERVICES INC (CSV) and Flywire Corp (FLYW). Click either name above to swap in a different company.
Flywire Corp is the larger business by last-quarter revenue ($157.5M vs $105.5M, roughly 1.5× CARRIAGE SERVICES INC). CARRIAGE SERVICES INC runs the higher net margin — 11.6% vs 0.0%, a 11.6% gap on every dollar of revenue. On growth, Flywire Corp posted the faster year-over-year revenue change (34.0% vs 8.0%). CARRIAGE SERVICES INC produced more free cash flow last quarter ($6.2M vs $4.5M). Over the past eight quarters, Flywire Corp's revenue compounded faster (17.5% CAGR vs 1.0%).
Jardine Cycle & Carriage Limited is the investment holding company of Jardines in Southeast Asia. It is currently 75% held by the conglomerate.
Flywire Corp is a global payment and receivables solutions provider serving core verticals including education, healthcare, travel, and B2B commerce. It offers secure cross-border payment processing, currency conversion, and workflow tools for organizations and payers worldwide.
CSV vs FLYW — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $105.5M | $157.5M |
| Net Profit | $12.3M | $33.0K |
| Gross Margin | 34.8% | — |
| Operating Margin | 23.3% | -0.6% |
| Net Margin | 11.6% | 0.0% |
| Revenue YoY | 8.0% | 34.0% |
| Net Profit YoY | 24.5% | 100.2% |
| EPS (diluted) | $0.76 | $0.01 |
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 | $157.5M | ||
| Q3 25 | $102.7M | $200.1M | ||
| Q2 25 | $102.1M | $131.9M | ||
| Q1 25 | $107.1M | $133.5M | ||
| Q4 24 | $97.7M | $117.5M | ||
| Q3 24 | $100.7M | $156.8M | ||
| Q2 24 | $102.3M | $103.7M | ||
| Q1 24 | $103.5M | $114.1M |
| Q4 25 | $12.3M | $33.0K | ||
| Q3 25 | $6.6M | $29.6M | ||
| Q2 25 | $11.7M | $-12.0M | ||
| Q1 25 | $20.9M | $-4.2M | ||
| Q4 24 | $9.9M | $-15.9M | ||
| Q3 24 | $9.9M | $38.9M | ||
| Q2 24 | $6.3M | $-13.9M | ||
| Q1 24 | $7.0M | $-6.2M |
| 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% | -0.6% | ||
| Q3 25 | 17.0% | 16.1% | ||
| Q2 25 | 23.5% | -6.8% | ||
| Q1 25 | 29.5% | -8.2% | ||
| Q4 24 | 21.6% | -4.9% | ||
| Q3 24 | 22.7% | 12.9% | ||
| Q2 24 | 18.0% | -15.2% | ||
| Q1 24 | 18.8% | -5.2% |
| Q4 25 | 11.6% | 0.0% | ||
| Q3 25 | 6.4% | 14.8% | ||
| Q2 25 | 11.5% | -9.1% | ||
| Q1 25 | 19.5% | -3.1% | ||
| Q4 24 | 10.1% | -13.5% | ||
| Q3 24 | 9.8% | 24.8% | ||
| Q2 24 | 6.1% | -13.4% | ||
| Q1 24 | 6.7% | -5.4% |
| Q4 25 | $0.76 | $0.01 | ||
| Q3 25 | $0.41 | $0.23 | ||
| Q2 25 | $0.74 | $-0.10 | ||
| Q1 25 | $1.34 | $-0.03 | ||
| Q4 24 | $0.62 | $-0.12 | ||
| Q3 24 | $0.63 | $0.30 | ||
| Q2 24 | $0.40 | $-0.11 | ||
| Q1 24 | $0.45 | $-0.05 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.7M | $355.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $254.8M | $835.2M |
| Total Assets | $1.3B | $1.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7M | $355.0M | ||
| Q3 25 | $1.2M | $377.3M | ||
| Q2 25 | $1.4M | $274.2M | ||
| Q1 25 | $4.6M | $255.3M | ||
| Q4 24 | $1.2M | $611.1M | ||
| Q3 24 | $1.3M | $681.1M | ||
| Q2 24 | $1.5M | $571.0M | ||
| Q1 24 | $1.7M | $619.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | $15.0M | ||
| Q2 25 | — | $60.0M | ||
| Q1 25 | — | $60.0M | ||
| Q4 24 | — | $0 | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $254.8M | $835.2M | ||
| Q3 25 | $242.1M | $829.1M | ||
| Q2 25 | $235.4M | $792.4M | ||
| Q1 25 | $223.1M | $784.3M | ||
| Q4 24 | $208.6M | $814.8M | ||
| Q3 24 | $198.1M | $843.2M | ||
| Q2 24 | $187.9M | $802.6M | ||
| Q1 24 | $179.6M | $-797.0M |
| Q4 25 | $1.3B | $1.3B | ||
| Q3 25 | $1.3B | $1.3B | ||
| Q2 25 | $1.3B | $1.1B | ||
| Q1 25 | $1.3B | $1.1B | ||
| Q4 24 | $1.3B | $1.1B | ||
| Q3 24 | $1.3B | $1.2B | ||
| Q2 24 | $1.3B | $998.7M | ||
| Q1 24 | $1.3B | $998.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.02× | ||
| Q2 25 | — | 0.08× | ||
| Q1 25 | — | 0.08× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $14.1M | $4.9M |
| Free Cash FlowOCF − Capex | $6.2M | $4.5M |
| FCF MarginFCF / Revenue | 5.9% | 2.9% |
| Capex IntensityCapex / Revenue | 7.5% | 0.2% |
| Cash ConversionOCF / Net Profit | 1.15× | 148.06× |
| TTM Free Cash FlowTrailing 4 quarters | $40.1M | $98.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $14.1M | $4.9M | ||
| Q3 25 | $24.7M | $150.1M | ||
| Q2 25 | $8.1M | $24.1M | ||
| Q1 25 | $13.8M | $-78.9M | ||
| Q4 24 | $9.3M | $-28.6M | ||
| Q3 24 | $20.9M | $184.6M | ||
| Q2 24 | $2.2M | $-19.3M | ||
| Q1 24 | $19.7M | $-38.1M |
| Q4 25 | $6.2M | $4.5M | ||
| Q3 25 | $18.0M | $149.9M | ||
| Q2 25 | $5.2M | $23.5M | ||
| Q1 25 | $10.6M | $-79.1M | ||
| Q4 24 | $4.9M | $-28.7M | ||
| Q3 24 | $16.2M | $184.4M | ||
| Q2 24 | $-1.4M | $-19.7M | ||
| Q1 24 | $16.2M | $-38.3M |
| Q4 25 | 5.9% | 2.9% | ||
| Q3 25 | 17.5% | 74.9% | ||
| Q2 25 | 5.1% | 17.8% | ||
| Q1 25 | 9.9% | -59.3% | ||
| Q4 24 | 5.0% | -24.4% | ||
| Q3 24 | 16.1% | 117.6% | ||
| Q2 24 | -1.4% | -19.0% | ||
| Q1 24 | 15.6% | -33.6% |
| Q4 25 | 7.5% | 0.2% | ||
| Q3 25 | 6.5% | 0.1% | ||
| Q2 25 | 2.8% | 0.4% | ||
| Q1 25 | 3.0% | 0.1% | ||
| Q4 24 | 4.5% | 0.1% | ||
| Q3 24 | 4.6% | 0.1% | ||
| Q2 24 | 3.5% | 0.3% | ||
| Q1 24 | 3.4% | 0.2% |
| Q4 25 | 1.15× | 148.06× | ||
| Q3 25 | 3.76× | 5.07× | ||
| Q2 25 | 0.69× | — | ||
| Q1 25 | 0.66× | — | ||
| Q4 24 | 0.94× | — | ||
| Q3 24 | 2.11× | 4.75× | ||
| 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
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% |
FLYW
| Transactions | $126.4M | 80% |
| Platform And Other Revenues | $31.1M | 20% |
