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Side-by-side financial comparison of CARRIAGE SERVICES INC (CSV) and IREN Ltd (IREN). Click either name above to swap in a different company.
IREN Ltd is the larger business by last-quarter revenue ($184.7M vs $105.5M, roughly 1.8× CARRIAGE SERVICES INC). CARRIAGE SERVICES INC runs the higher net margin — 11.6% vs -84.1%, a 95.8% gap on every dollar of revenue. On growth, IREN Ltd posted the faster year-over-year revenue change (59.0% vs 8.0%). CARRIAGE SERVICES INC produced more free cash flow last quarter ($6.2M vs $-468.0M).
Jardine Cycle & Carriage Limited is the investment holding company of Jardines in Southeast Asia. It is currently 75% held by the conglomerate.
IREN Ltd. is a vertically integrated data center business powering the future of Bitcoin, AI and beyond with renewable energy. It is strategically located in renewable-rich, fiber-connected regions across the US and Canada.
CSV vs IREN — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $105.5M | $184.7M |
| Net Profit | $12.3M | $-155.4M |
| Gross Margin | 34.8% | 64.4% |
| Operating Margin | 23.3% | -63.0% |
| Net Margin | 11.6% | -84.1% |
| Revenue YoY | 8.0% | 59.0% |
| Net Profit YoY | 24.5% | -610.0% |
| EPS (diluted) | $0.76 | $-0.52 |
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 | $184.7M | ||
| Q3 25 | $102.7M | $240.3M | ||
| Q2 25 | $102.1M | — | ||
| Q1 25 | $107.1M | — | ||
| Q4 24 | $97.7M | $116.1M | ||
| Q3 24 | $100.7M | $52.8M | ||
| Q2 24 | $102.3M | — | ||
| Q1 24 | $103.5M | $54.3M |
| Q4 25 | $12.3M | $-155.4M | ||
| Q3 25 | $6.6M | $384.6M | ||
| Q2 25 | $11.7M | — | ||
| Q1 25 | $20.9M | — | ||
| Q4 24 | $9.9M | $-21.9M | ||
| Q3 24 | $9.9M | $-51.7M | ||
| Q2 24 | $6.3M | — | ||
| Q1 24 | $7.0M | $8.6M |
| Q4 25 | 34.8% | 64.4% | ||
| Q3 25 | 35.3% | 66.4% | ||
| Q2 25 | 35.2% | — | ||
| Q1 25 | 35.3% | — | ||
| Q4 24 | 34.4% | 72.2% | ||
| Q3 24 | 35.2% | 39.6% | ||
| Q2 24 | 36.2% | — | ||
| Q1 24 | 36.0% | — |
| Q4 25 | 23.3% | -63.0% | ||
| Q3 25 | 17.0% | -31.8% | ||
| Q2 25 | 23.5% | — | ||
| Q1 25 | 29.5% | — | ||
| Q4 24 | 21.6% | 14.9% | ||
| Q3 24 | 22.7% | -89.2% | ||
| Q2 24 | 18.0% | — | ||
| Q1 24 | 18.8% | 11.1% |
| Q4 25 | 11.6% | -84.1% | ||
| Q3 25 | 6.4% | 160.1% | ||
| Q2 25 | 11.5% | — | ||
| Q1 25 | 19.5% | — | ||
| Q4 24 | 10.1% | -18.8% | ||
| Q3 24 | 9.8% | -98.0% | ||
| Q2 24 | 6.1% | — | ||
| Q1 24 | 6.7% | 15.9% |
| Q4 25 | $0.76 | $-0.52 | ||
| Q3 25 | $0.41 | $1.08 | ||
| Q2 25 | $0.74 | — | ||
| Q1 25 | $1.34 | — | ||
| Q4 24 | $0.62 | $-0.10 | ||
| Q3 24 | $0.63 | $-0.27 | ||
| Q2 24 | $0.40 | — | ||
| Q1 24 | $0.45 | $0.00 |
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 | $3.3B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $254.8M | $2.5B |
| Total Assets | $1.3B | $7.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7M | $3.3B | ||
| Q3 25 | $1.2M | $1.0B | ||
| Q2 25 | $1.4M | — | ||
| Q1 25 | $4.6M | — | ||
| Q4 24 | $1.2M | $427.3M | ||
| Q3 24 | $1.3M | $98.6M | ||
| Q2 24 | $1.5M | — | ||
| Q1 24 | $1.7M | $259.7M |
| Q4 25 | $254.8M | $2.5B | ||
| Q3 25 | $242.1M | $2.9B | ||
| Q2 25 | $235.4M | — | ||
| Q1 25 | $223.1M | — | ||
| Q4 24 | $208.6M | $1.2B | ||
| Q3 24 | $198.1M | $1.1B | ||
| Q2 24 | $187.9M | — | ||
| Q1 24 | $179.6M | $677.2M |
| Q4 25 | $1.3B | $7.0B | ||
| Q3 25 | $1.3B | $4.3B | ||
| Q2 25 | $1.3B | — | ||
| Q1 25 | $1.3B | — | ||
| Q4 24 | $1.3B | $1.9B | ||
| Q3 24 | $1.3B | $1.3B | ||
| Q2 24 | $1.3B | — | ||
| Q1 24 | $1.3B | $723.6M |
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 | $71.7M |
| Free Cash FlowOCF − Capex | $6.2M | $-468.0M |
| FCF MarginFCF / Revenue | 5.9% | -253.4% |
| Capex IntensityCapex / Revenue | 7.5% | 292.2% |
| Cash ConversionOCF / Net Profit | 1.15× | — |
| TTM Free Cash FlowTrailing 4 quarters | $40.1M | $-701.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $14.1M | $71.7M | ||
| Q3 25 | $24.7M | $142.4M | ||
| Q2 25 | $8.1M | — | ||
| Q1 25 | $13.8M | — | ||
| Q4 24 | $9.3M | $53.6M | ||
| Q3 24 | $20.9M | $-3.9M | ||
| Q2 24 | $2.2M | — | ||
| Q1 24 | $19.7M | $-27.1M |
| Q4 25 | $6.2M | $-468.0M | ||
| Q3 25 | $18.0M | $-38.0M | ||
| Q2 25 | $5.2M | — | ||
| Q1 25 | $10.6M | — | ||
| Q4 24 | $4.9M | $-85.5M | ||
| Q3 24 | $16.2M | $-109.7M | ||
| Q2 24 | $-1.4M | — | ||
| Q1 24 | $16.2M | $-108.3M |
| Q4 25 | 5.9% | -253.4% | ||
| Q3 25 | 17.5% | -15.8% | ||
| Q2 25 | 5.1% | — | ||
| Q1 25 | 9.9% | — | ||
| Q4 24 | 5.0% | -73.6% | ||
| Q3 24 | 16.1% | -208.0% | ||
| Q2 24 | -1.4% | — | ||
| Q1 24 | 15.6% | -199.4% |
| Q4 25 | 7.5% | 292.2% | ||
| Q3 25 | 6.5% | 75.0% | ||
| Q2 25 | 2.8% | — | ||
| Q1 25 | 3.0% | — | ||
| Q4 24 | 4.5% | 119.7% | ||
| Q3 24 | 4.6% | 200.6% | ||
| Q2 24 | 3.5% | — | ||
| Q1 24 | 3.4% | 149.5% |
| Q4 25 | 1.15× | — | ||
| Q3 25 | 3.76× | 0.37× | ||
| Q2 25 | 0.69× | — | ||
| Q1 25 | 0.66× | — | ||
| Q4 24 | 0.94× | — | ||
| Q3 24 | 2.11× | — | ||
| Q2 24 | 0.34× | — | ||
| Q1 24 | 2.83× | -3.13× |
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% |
IREN
| Bitcoin Mining Revenue | $167.4M | 91% |
| AI Cloud Services | $17.3M | 9% |
