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Side-by-side financial comparison of CARRIAGE SERVICES INC (CSV) and FORRESTER RESEARCH, INC. (FORR). Click either name above to swap in a different company.
CARRIAGE SERVICES INC is the larger business by last-quarter revenue ($105.5M vs $101.1M, roughly 1.0× FORRESTER RESEARCH, INC.). CARRIAGE SERVICES INC runs the higher net margin — 11.6% vs -33.5%, a 45.2% gap on every dollar of revenue. On growth, CARRIAGE SERVICES INC posted the faster year-over-year revenue change (8.0% vs -6.5%). CARRIAGE SERVICES INC produced more free cash flow last quarter ($6.2M vs $-4.3M). Over the past eight quarters, CARRIAGE SERVICES INC's revenue compounded faster (1.0% CAGR vs 0.5%).
Jardine Cycle & Carriage Limited is the investment holding company of Jardines in Southeast Asia. It is currently 75% held by the conglomerate.
Forrester Research, Inc. is a research and advisory firm working in research, consulting and events. Forrester’s clients include large global business, technology and consumer enterprises. The firm is headquartered in Cambridge, MA.
CSV vs FORR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $105.5M | $101.1M |
| Net Profit | $12.3M | $-33.9M |
| Gross Margin | 34.8% | 56.7% |
| Operating Margin | 23.3% | -36.6% |
| Net Margin | 11.6% | -33.5% |
| Revenue YoY | 8.0% | -6.5% |
| Net Profit YoY | 24.5% | -7941.4% |
| EPS (diluted) | $0.76 | $-1.75 |
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 | $101.1M | ||
| Q3 25 | $102.7M | $94.3M | ||
| Q2 25 | $102.1M | $111.7M | ||
| Q1 25 | $107.1M | $89.9M | ||
| Q4 24 | $97.7M | $108.0M | ||
| Q3 24 | $100.7M | $102.5M | ||
| Q2 24 | $102.3M | $121.8M | ||
| Q1 24 | $103.5M | $100.1M |
| Q4 25 | $12.3M | $-33.9M | ||
| Q3 25 | $6.6M | $-2.1M | ||
| Q2 25 | $11.7M | $3.9M | ||
| Q1 25 | $20.9M | $-87.3M | ||
| Q4 24 | $9.9M | $432.0K | ||
| Q3 24 | $9.9M | $-5.8M | ||
| Q2 24 | $6.3M | $6.3M | ||
| Q1 24 | $7.0M | $-6.7M |
| Q4 25 | 34.8% | 56.7% | ||
| Q3 25 | 35.3% | 60.0% | ||
| Q2 25 | 35.2% | 55.5% | ||
| Q1 25 | 35.3% | 55.9% | ||
| Q4 24 | 34.4% | 58.8% | ||
| Q3 24 | 35.2% | 60.5% | ||
| Q2 24 | 36.2% | 57.3% | ||
| Q1 24 | 36.0% | 54.9% |
| Q4 25 | 23.3% | -36.6% | ||
| Q3 25 | 17.0% | 4.7% | ||
| Q2 25 | 23.5% | 6.2% | ||
| Q1 25 | 29.5% | -97.5% | ||
| Q4 24 | 21.6% | -0.5% | ||
| Q3 24 | 22.7% | -0.7% | ||
| Q2 24 | 18.0% | 9.3% | ||
| Q1 24 | 18.8% | -9.3% |
| Q4 25 | 11.6% | -33.5% | ||
| Q3 25 | 6.4% | -2.3% | ||
| Q2 25 | 11.5% | 3.5% | ||
| Q1 25 | 19.5% | -97.1% | ||
| Q4 24 | 10.1% | 0.4% | ||
| Q3 24 | 9.8% | -5.7% | ||
| Q2 24 | 6.1% | 5.2% | ||
| Q1 24 | 6.7% | -6.7% |
| Q4 25 | $0.76 | $-1.75 | ||
| Q3 25 | $0.41 | $-0.11 | ||
| Q2 25 | $0.74 | $0.20 | ||
| Q1 25 | $1.34 | $-4.62 | ||
| Q4 24 | $0.62 | $0.02 | ||
| Q3 24 | $0.63 | $-0.30 | ||
| Q2 24 | $0.40 | $0.33 | ||
| Q1 24 | $0.45 | $-0.35 |
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 | $63.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $254.8M | $126.5M |
| Total Assets | $1.3B | $404.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7M | $63.3M | ||
| Q3 25 | $1.2M | $65.1M | ||
| Q2 25 | $1.4M | $67.8M | ||
| Q1 25 | $4.6M | $75.6M | ||
| Q4 24 | $1.2M | $56.1M | ||
| Q3 24 | $1.3M | $62.8M | ||
| Q2 24 | $1.5M | $58.9M | ||
| Q1 24 | $1.7M | $61.4M |
| Q4 25 | $254.8M | $126.5M | ||
| Q3 25 | $242.1M | $157.7M | ||
| Q2 25 | $235.4M | $159.5M | ||
| Q1 25 | $223.1M | $147.4M | ||
| Q4 24 | $208.6M | $229.5M | ||
| Q3 24 | $198.1M | $234.3M | ||
| Q2 24 | $187.9M | $237.1M | ||
| Q1 24 | $179.6M | $230.9M |
| Q4 25 | $1.3B | $404.0M | ||
| Q3 25 | $1.3B | $414.2M | ||
| Q2 25 | $1.3B | $436.0M | ||
| Q1 25 | $1.3B | $439.8M | ||
| Q4 24 | $1.3B | $503.9M | ||
| Q3 24 | $1.3B | $505.3M | ||
| Q2 24 | $1.3B | $524.2M | ||
| Q1 24 | $1.3B | $555.7M |
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 | $-3.2M |
| Free Cash FlowOCF − Capex | $6.2M | $-4.3M |
| FCF MarginFCF / Revenue | 5.9% | -4.2% |
| Capex IntensityCapex / Revenue | 7.5% | 1.1% |
| Cash ConversionOCF / Net Profit | 1.15× | — |
| TTM Free Cash FlowTrailing 4 quarters | $40.1M | $18.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $14.1M | $-3.2M | ||
| Q3 25 | $24.7M | $1.2M | ||
| Q2 25 | $8.1M | $-3.6M | ||
| Q1 25 | $13.8M | $26.7M | ||
| Q4 24 | $9.3M | $-1.8M | ||
| Q3 24 | $20.9M | $264.0K | ||
| Q2 24 | $2.2M | $-2.9M | ||
| Q1 24 | $19.7M | $611.0K |
| Q4 25 | $6.2M | $-4.3M | ||
| Q3 25 | $18.0M | $524.0K | ||
| Q2 25 | $5.2M | $-4.2M | ||
| Q1 25 | $10.6M | $26.1M | ||
| Q4 24 | $4.9M | $-2.5M | ||
| Q3 24 | $16.2M | $-223.0K | ||
| Q2 24 | $-1.4M | $-3.7M | ||
| Q1 24 | $16.2M | $-815.0K |
| Q4 25 | 5.9% | -4.2% | ||
| Q3 25 | 17.5% | 0.6% | ||
| Q2 25 | 5.1% | -3.8% | ||
| Q1 25 | 9.9% | 29.0% | ||
| Q4 24 | 5.0% | -2.3% | ||
| Q3 24 | 16.1% | -0.2% | ||
| Q2 24 | -1.4% | -3.1% | ||
| Q1 24 | 15.6% | -0.8% |
| Q4 25 | 7.5% | 1.1% | ||
| Q3 25 | 6.5% | 0.7% | ||
| Q2 25 | 2.8% | 0.5% | ||
| Q1 25 | 3.0% | 0.7% | ||
| Q4 24 | 4.5% | 0.6% | ||
| Q3 24 | 4.6% | 0.5% | ||
| Q2 24 | 3.5% | 0.7% | ||
| Q1 24 | 3.4% | 1.4% |
| Q4 25 | 1.15× | — | ||
| Q3 25 | 3.76× | — | ||
| Q2 25 | 0.69× | -0.93× | ||
| Q1 25 | 0.66× | — | ||
| Q4 24 | 0.94× | -4.24× | ||
| Q3 24 | 2.11× | — | ||
| Q2 24 | 0.34× | -0.46× | ||
| 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% |
FORR
| Research Segment | $82.2M | 81% |
| Consulting Segment | $16.2M | 16% |
| Billable Expenses | $1.5M | 2% |
| Professional Services | $1.4M | 1% |
