vs
Side-by-side financial comparison of CARRIAGE SERVICES INC (CSV) and Karman Holdings Inc. (KRMN). Click either name above to swap in a different company.
Karman Holdings Inc. is the larger business by last-quarter revenue ($134.5M vs $105.5M, roughly 1.3× CARRIAGE SERVICES INC). CARRIAGE SERVICES INC runs the higher net margin — 11.6% vs 5.7%, a 5.9% gap on every dollar of revenue. On growth, Karman Holdings Inc. posted the faster year-over-year revenue change (47.4% vs 8.0%). CARRIAGE SERVICES INC produced more free cash flow last quarter ($6.2M vs $4.0M). Over the past eight quarters, Karman Holdings Inc.'s revenue compounded faster (27.3% 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.
Karman Holdings is an American fabricator of space and defense systems based in Huntington Beach, California. The company, which is valued at approximately US$4 billion, recently underwent an initial public offering.
CSV vs KRMN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $105.5M | $134.5M |
| Net Profit | $12.3M | $7.7M |
| Gross Margin | 34.8% | 39.9% |
| Operating Margin | 23.3% | 15.7% |
| Net Margin | 11.6% | 5.7% |
| Revenue YoY | 8.0% | 47.4% |
| Net Profit YoY | 24.5% | 358.3% |
| EPS (diluted) | $0.76 | $0.06 |
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 | $134.5M | ||
| Q3 25 | $102.7M | $121.8M | ||
| Q2 25 | $102.1M | $115.1M | ||
| Q1 25 | $107.1M | $100.1M | ||
| Q4 24 | $97.7M | $91.2M | ||
| Q3 24 | $100.7M | $86.0M | ||
| Q2 24 | $102.3M | $85.0M | ||
| Q1 24 | $103.5M | $83.0M |
| Q4 25 | $12.3M | $7.7M | ||
| Q3 25 | $6.6M | $7.6M | ||
| Q2 25 | $11.7M | $6.8M | ||
| Q1 25 | $20.9M | $-4.8M | ||
| Q4 24 | $9.9M | $1.7M | ||
| Q3 24 | $9.9M | $4.3M | ||
| Q2 24 | $6.3M | $4.6M | ||
| Q1 24 | $7.0M | $2.1M |
| Q4 25 | 34.8% | 39.9% | ||
| Q3 25 | 35.3% | 41.0% | ||
| Q2 25 | 35.2% | 40.9% | ||
| Q1 25 | 35.3% | 39.4% | ||
| Q4 24 | 34.4% | 38.1% | ||
| Q3 24 | 35.2% | 39.3% | ||
| Q2 24 | 36.2% | 40.7% | ||
| Q1 24 | 36.0% | 34.9% |
| Q4 25 | 23.3% | 15.7% | ||
| Q3 25 | 17.0% | 17.9% | ||
| Q2 25 | 23.5% | 17.5% | ||
| Q1 25 | 29.5% | 10.0% | ||
| Q4 24 | 21.6% | 15.8% | ||
| Q3 24 | 22.7% | 20.2% | ||
| Q2 24 | 18.0% | 21.5% | ||
| Q1 24 | 18.8% | 16.3% |
| Q4 25 | 11.6% | 5.7% | ||
| Q3 25 | 6.4% | 6.3% | ||
| Q2 25 | 11.5% | 5.9% | ||
| Q1 25 | 19.5% | -4.8% | ||
| Q4 24 | 10.1% | 1.8% | ||
| Q3 24 | 9.8% | 5.0% | ||
| Q2 24 | 6.1% | 5.4% | ||
| Q1 24 | 6.7% | 2.6% |
| Q4 25 | $0.76 | $0.06 | ||
| Q3 25 | $0.41 | $0.06 | ||
| Q2 25 | $0.74 | $0.05 | ||
| Q1 25 | $1.34 | $-0.04 | ||
| Q4 24 | $0.62 | $0.01 | ||
| Q3 24 | $0.63 | $0.03 | ||
| Q2 24 | $0.40 | $0.03 | ||
| Q1 24 | $0.45 | $0.01 |
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 | $34.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $254.8M | $382.7M |
| Total Assets | $1.3B | $1.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7M | $34.0M | ||
| Q3 25 | $1.2M | $18.7M | ||
| Q2 25 | $1.4M | $27.4M | ||
| Q1 25 | $4.6M | $113.7M | ||
| Q4 24 | $1.2M | $11.5M | ||
| Q3 24 | $1.3M | — | ||
| Q2 24 | $1.5M | — | ||
| Q1 24 | $1.7M | — |
| Q4 25 | $254.8M | $382.7M | ||
| Q3 25 | $242.1M | $369.1M | ||
| Q2 25 | $235.4M | $361.5M | ||
| Q1 25 | $223.1M | $348.9M | ||
| Q4 24 | $208.6M | $196.0M | ||
| Q3 24 | $198.1M | $194.1M | ||
| Q2 24 | $187.9M | $189.6M | ||
| Q1 24 | $179.6M | $184.8M |
| Q4 25 | $1.3B | $1.1B | ||
| Q3 25 | $1.3B | $968.1M | ||
| Q2 25 | $1.3B | $953.9M | ||
| Q1 25 | $1.3B | $875.4M | ||
| Q4 24 | $1.3B | $774.0M | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $1.3B | — | ||
| Q1 24 | $1.3B | — |
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 | $8.7M |
| Free Cash FlowOCF − Capex | $6.2M | $4.0M |
| FCF MarginFCF / Revenue | 5.9% | 3.0% |
| Capex IntensityCapex / Revenue | 7.5% | 3.5% |
| Cash ConversionOCF / Net Profit | 1.15× | 1.13× |
| TTM Free Cash FlowTrailing 4 quarters | $40.1M | $-42.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $14.1M | $8.7M | ||
| Q3 25 | $24.7M | $131.0K | ||
| Q2 25 | $8.1M | $-17.4M | ||
| Q1 25 | $13.8M | $-13.6M | ||
| Q4 24 | $9.3M | — | ||
| Q3 24 | $20.9M | — | ||
| Q2 24 | $2.2M | — | ||
| Q1 24 | $19.7M | $3.1M |
| Q4 25 | $6.2M | $4.0M | ||
| Q3 25 | $18.0M | $-6.8M | ||
| Q2 25 | $5.2M | $-21.0M | ||
| Q1 25 | $10.6M | $-18.6M | ||
| Q4 24 | $4.9M | — | ||
| Q3 24 | $16.2M | — | ||
| Q2 24 | $-1.4M | — | ||
| Q1 24 | $16.2M | $1.5M |
| Q4 25 | 5.9% | 3.0% | ||
| Q3 25 | 17.5% | -5.6% | ||
| Q2 25 | 5.1% | -18.2% | ||
| Q1 25 | 9.9% | -18.6% | ||
| Q4 24 | 5.0% | — | ||
| Q3 24 | 16.1% | — | ||
| Q2 24 | -1.4% | — | ||
| Q1 24 | 15.6% | 1.8% |
| Q4 25 | 7.5% | 3.5% | ||
| Q3 25 | 6.5% | 5.7% | ||
| Q2 25 | 2.8% | 3.2% | ||
| Q1 25 | 3.0% | 5.0% | ||
| Q4 24 | 4.5% | — | ||
| Q3 24 | 4.6% | — | ||
| Q2 24 | 3.5% | — | ||
| Q1 24 | 3.4% | 1.9% |
| Q4 25 | 1.15× | 1.13× | ||
| Q3 25 | 3.76× | 0.02× | ||
| Q2 25 | 0.69× | -2.55× | ||
| Q1 25 | 0.66× | — | ||
| Q4 24 | 0.94× | — | ||
| Q3 24 | 2.11× | — | ||
| Q2 24 | 0.34× | — | ||
| Q1 24 | 2.83× | 1.45× |
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% |
KRMN
| Tactical Missile And Integrated Defense Systems | $50.5M | 38% |
| Hypersonic And Strategic Missile Defense | $48.4M | 36% |
| Space And Launch | $35.7M | 27% |
