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Side-by-side financial comparison of CARRIAGE SERVICES INC (CSV) and Lifeway Foods, Inc. (LWAY). Click either name above to swap in a different company.
CARRIAGE SERVICES INC is the larger business by last-quarter revenue ($105.5M vs $55.4M, roughly 1.9× Lifeway Foods, Inc.). CARRIAGE SERVICES INC runs the higher net margin — 11.6% vs 4.6%, a 7.0% gap on every dollar of revenue. On growth, Lifeway Foods, Inc. posted the faster year-over-year revenue change (18.0% vs 8.0%). CARRIAGE SERVICES INC produced more free cash flow last quarter ($6.2M vs $-17.4M). Over the past eight quarters, Lifeway Foods, Inc.'s revenue compounded faster (11.4% 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.
Lifeway Foods is an Illinois-based health food company founded in 1986. They are a leading U.S. supplier of kefir and fermented probiotic products to support the microbiome.
CSV vs LWAY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $105.5M | $55.4M |
| Net Profit | $12.3M | $2.5M |
| Gross Margin | 34.8% | 27.8% |
| Operating Margin | 23.3% | 6.8% |
| Net Margin | 11.6% | 4.6% |
| Revenue YoY | 8.0% | 18.0% |
| Net Profit YoY | 24.5% | 1688.1% |
| EPS (diluted) | $0.76 | $0.15 |
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 | $55.4M | ||
| Q3 25 | $102.7M | $57.1M | ||
| Q2 25 | $102.1M | $53.9M | ||
| Q1 25 | $107.1M | $46.1M | ||
| Q4 24 | $97.7M | $46.9M | ||
| Q3 24 | $100.7M | $46.1M | ||
| Q2 24 | $102.3M | $49.2M | ||
| Q1 24 | $103.5M | $44.6M |
| Q4 25 | $12.3M | $2.5M | ||
| Q3 25 | $6.6M | $3.5M | ||
| Q2 25 | $11.7M | $4.2M | ||
| Q1 25 | $20.9M | $3.5M | ||
| Q4 24 | $9.9M | $-160.0K | ||
| Q3 24 | $9.9M | $3.0M | ||
| Q2 24 | $6.3M | $3.8M | ||
| Q1 24 | $7.0M | $2.4M |
| Q4 25 | 34.8% | 27.8% | ||
| Q3 25 | 35.3% | 28.7% | ||
| Q2 25 | 35.2% | 28.6% | ||
| Q1 25 | 35.3% | 23.9% | ||
| Q4 24 | 34.4% | 25.3% | ||
| Q3 24 | 35.2% | 25.7% | ||
| Q2 24 | 36.2% | 27.0% | ||
| Q1 24 | 36.0% | 25.8% |
| Q4 25 | 23.3% | 6.8% | ||
| Q3 25 | 17.0% | 8.8% | ||
| Q2 25 | 23.5% | 10.8% | ||
| Q1 25 | 29.5% | 3.4% | ||
| Q4 24 | 21.6% | 1.5% | ||
| Q3 24 | 22.7% | 9.1% | ||
| Q2 24 | 18.0% | 11.0% | ||
| Q1 24 | 18.8% | 8.0% |
| Q4 25 | 11.6% | 4.6% | ||
| Q3 25 | 6.4% | 6.2% | ||
| Q2 25 | 11.5% | 7.9% | ||
| Q1 25 | 19.5% | 7.7% | ||
| Q4 24 | 10.1% | -0.3% | ||
| Q3 24 | 9.8% | 6.5% | ||
| Q2 24 | 6.1% | 7.7% | ||
| Q1 24 | 6.7% | 5.4% |
| Q4 25 | $0.76 | $0.15 | ||
| Q3 25 | $0.41 | $0.23 | ||
| Q2 25 | $0.74 | $0.28 | ||
| Q1 25 | $1.34 | $0.23 | ||
| Q4 24 | $0.62 | $0.00 | ||
| Q3 24 | $0.63 | $0.19 | ||
| Q2 24 | $0.40 | $0.25 | ||
| Q1 24 | $0.45 | $0.16 |
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 | $5.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $254.8M | $85.8M |
| Total Assets | $1.3B | $105.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7M | $5.6M | ||
| Q3 25 | $1.2M | $23.0M | ||
| Q2 25 | $1.4M | $21.2M | ||
| Q1 25 | $4.6M | $19.4M | ||
| Q4 24 | $1.2M | $16.7M | ||
| Q3 24 | $1.3M | $20.6M | ||
| Q2 24 | $1.5M | $14.6M | ||
| Q1 24 | $1.7M | $12.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $2.5M |
| Q4 25 | $254.8M | $85.8M | ||
| Q3 25 | $242.1M | $82.8M | ||
| Q2 25 | $235.4M | $78.7M | ||
| Q1 25 | $223.1M | $74.2M | ||
| Q4 24 | $208.6M | $71.9M | ||
| Q3 24 | $198.1M | $71.5M | ||
| Q2 24 | $187.9M | $68.0M | ||
| Q1 24 | $179.6M | $63.5M |
| Q4 25 | $1.3B | $105.6M | ||
| Q3 25 | $1.3B | $109.5M | ||
| Q2 25 | $1.3B | $98.3M | ||
| Q1 25 | $1.3B | $93.7M | ||
| Q4 24 | $1.3B | $90.5M | ||
| Q3 24 | $1.3B | $91.3M | ||
| Q2 24 | $1.3B | $84.9M | ||
| Q1 24 | $1.3B | $82.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.04× |
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 | $267.0K |
| Free Cash FlowOCF − Capex | $6.2M | $-17.4M |
| FCF MarginFCF / Revenue | 5.9% | -31.5% |
| Capex IntensityCapex / Revenue | 7.5% | 31.9% |
| Cash ConversionOCF / Net Profit | 1.15× | 0.11× |
| TTM Free Cash FlowTrailing 4 quarters | $40.1M | $-16.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $14.1M | $267.0K | ||
| Q3 25 | $24.7M | $6.9M | ||
| Q2 25 | $8.1M | $3.9M | ||
| Q1 25 | $13.8M | $-150.0K | ||
| Q4 24 | $9.3M | $-2.6M | ||
| Q3 24 | $20.9M | $7.5M | ||
| Q2 24 | $2.2M | $6.5M | ||
| Q1 24 | $19.7M | $1.5M |
| Q4 25 | $6.2M | $-17.4M | ||
| Q3 25 | $18.0M | $1.8M | ||
| Q2 25 | $5.2M | $1.6M | ||
| Q1 25 | $10.6M | $-2.4M | ||
| Q4 24 | $4.9M | $-3.8M | ||
| Q3 24 | $16.2M | $5.9M | ||
| Q2 24 | $-1.4M | $5.1M | ||
| Q1 24 | $16.2M | $-923.0K |
| Q4 25 | 5.9% | -31.5% | ||
| Q3 25 | 17.5% | 3.1% | ||
| Q2 25 | 5.1% | 3.0% | ||
| Q1 25 | 9.9% | -5.1% | ||
| Q4 24 | 5.0% | -8.2% | ||
| Q3 24 | 16.1% | 12.8% | ||
| Q2 24 | -1.4% | 10.4% | ||
| Q1 24 | 15.6% | -2.1% |
| Q4 25 | 7.5% | 31.9% | ||
| Q3 25 | 6.5% | 9.0% | ||
| Q2 25 | 2.8% | 4.3% | ||
| Q1 25 | 3.0% | 4.8% | ||
| Q4 24 | 4.5% | 2.7% | ||
| Q3 24 | 4.6% | 3.3% | ||
| Q2 24 | 3.5% | 2.9% | ||
| Q1 24 | 3.4% | 5.5% |
| Q4 25 | 1.15× | 0.11× | ||
| Q3 25 | 3.76× | 1.96× | ||
| Q2 25 | 0.69× | 0.92× | ||
| Q1 25 | 0.66× | -0.04× | ||
| Q4 24 | 0.94× | — | ||
| Q3 24 | 2.11× | 2.50× | ||
| Q2 24 | 0.34× | 1.73× | ||
| Q1 24 | 2.83× | 0.64× |
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% |
LWAY
| Drinkable Kefirotherthan Pro Bugs | $47.8M | 86% |
| Cheese | $4.7M | 8% |
| Cream And Other | $1.7M | 3% |
| Other | $1.2M | 2% |
