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Side-by-side financial comparison of CARRIAGE SERVICES INC (CSV) and National Storage Affiliates Trust (NSA). Click either name above to swap in a different company.
National Storage Affiliates Trust is the larger business by last-quarter revenue ($187.0M vs $105.5M, roughly 1.8× CARRIAGE SERVICES INC). National Storage Affiliates Trust runs the higher net margin — 12.2% vs 11.6%, a 0.6% gap on every dollar of revenue. On growth, CARRIAGE SERVICES INC posted the faster year-over-year revenue change (8.0% vs -1.6%). National Storage Affiliates Trust produced more free cash flow last quarter ($299.8M vs $6.2M). Over the past eight quarters, CARRIAGE SERVICES INC's revenue compounded faster (1.0% CAGR vs -2.4%).
Jardine Cycle & Carriage Limited is the investment holding company of Jardines in Southeast Asia. It is currently 75% held by the conglomerate.
National Storage Affiliates Trust is a U.S.-headquartered real estate investment trust focused on self-storage assets. It owns, operates and acquires self-storage facilities across dozens of U.S. states, offering secure storage solutions for residential and commercial customers.
CSV vs NSA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $105.5M | $187.0M |
| Net Profit | $12.3M | $22.9M |
| Gross Margin | 34.8% | 72.5% |
| Operating Margin | 23.3% | 20.2% |
| Net Margin | 11.6% | 12.2% |
| Revenue YoY | 8.0% | -1.6% |
| Net Profit YoY | 24.5% | 36.8% |
| EPS (diluted) | $0.76 | $0.23 |
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 | $187.0M | ||
| Q3 25 | $102.7M | $188.7M | ||
| Q2 25 | $102.1M | $188.8M | ||
| Q1 25 | $107.1M | $188.4M | ||
| Q4 24 | $97.7M | $190.1M | ||
| Q3 24 | $100.7M | $193.6M | ||
| Q2 24 | $102.3M | $190.4M | ||
| Q1 24 | $103.5M | $196.1M |
| Q4 25 | $12.3M | $22.9M | ||
| Q3 25 | $6.6M | $18.4M | ||
| Q2 25 | $11.7M | $19.5M | ||
| Q1 25 | $20.9M | $13.0M | ||
| Q4 24 | $9.9M | $16.7M | ||
| Q3 24 | $9.9M | $18.7M | ||
| Q2 24 | $6.3M | $17.1M | ||
| Q1 24 | $7.0M | $59.0M |
| Q4 25 | 34.8% | 72.5% | ||
| Q3 25 | 35.3% | 70.7% | ||
| Q2 25 | 35.2% | 70.5% | ||
| Q1 25 | 35.3% | 70.7% | ||
| Q4 24 | 34.4% | 72.5% | ||
| Q3 24 | 35.2% | 72.8% | ||
| Q2 24 | 36.2% | 72.6% | ||
| Q1 24 | 36.0% | 72.1% |
| Q4 25 | 23.3% | 20.2% | ||
| Q3 25 | 17.0% | 15.8% | ||
| Q2 25 | 23.5% | 16.5% | ||
| Q1 25 | 29.5% | 11.0% | ||
| Q4 24 | 21.6% | 14.5% | ||
| Q3 24 | 22.7% | 15.8% | ||
| Q2 24 | 18.0% | 17.2% | ||
| Q1 24 | 18.8% | 48.9% |
| Q4 25 | 11.6% | 12.2% | ||
| Q3 25 | 6.4% | 9.8% | ||
| Q2 25 | 11.5% | 10.3% | ||
| Q1 25 | 19.5% | 6.9% | ||
| Q4 24 | 10.1% | 8.8% | ||
| Q3 24 | 9.8% | 9.7% | ||
| Q2 24 | 6.1% | 9.0% | ||
| Q1 24 | 6.7% | 30.1% |
| Q4 25 | $0.76 | $0.23 | ||
| Q3 25 | $0.41 | $0.17 | ||
| Q2 25 | $0.74 | $0.19 | ||
| Q1 25 | $1.34 | $0.10 | ||
| Q4 24 | $0.62 | $0.19 | ||
| Q3 24 | $0.63 | $0.18 | ||
| Q2 24 | $0.40 | $0.16 | ||
| Q1 24 | $0.45 | $0.65 |
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 | $23.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $254.8M | $946.0M |
| Total Assets | $1.3B | $5.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7M | $23.3M | ||
| Q3 25 | $1.2M | $26.3M | ||
| Q2 25 | $1.4M | $26.1M | ||
| Q1 25 | $4.6M | $19.3M | ||
| Q4 24 | $1.2M | $50.4M | ||
| Q3 24 | $1.3M | $69.9M | ||
| Q2 24 | $1.5M | $59.0M | ||
| Q1 24 | $1.7M | $64.2M |
| Q4 25 | $254.8M | $946.0M | ||
| Q3 25 | $242.1M | $973.1M | ||
| Q2 25 | $235.4M | $1.0B | ||
| Q1 25 | $223.1M | $1.0B | ||
| Q4 24 | $208.6M | $1.1B | ||
| Q3 24 | $198.1M | $986.9M | ||
| Q2 24 | $187.9M | $1.2B | ||
| Q1 24 | $179.6M | $1.3B |
| Q4 25 | $1.3B | $5.1B | ||
| Q3 25 | $1.3B | $5.1B | ||
| Q2 25 | $1.3B | $5.2B | ||
| Q1 25 | $1.3B | $5.3B | ||
| Q4 24 | $1.3B | $5.4B | ||
| Q3 24 | $1.3B | $5.4B | ||
| Q2 24 | $1.3B | $5.3B | ||
| Q1 24 | $1.3B | $5.4B |
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 | $338.5M |
| Free Cash FlowOCF − Capex | $6.2M | $299.8M |
| FCF MarginFCF / Revenue | 5.9% | 160.3% |
| Capex IntensityCapex / Revenue | 7.5% | 20.7% |
| Cash ConversionOCF / Net Profit | 1.15× | 14.79× |
| TTM Free Cash FlowTrailing 4 quarters | $40.1M | $541.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $14.1M | $338.5M | ||
| Q3 25 | $24.7M | $100.2M | ||
| Q2 25 | $8.1M | $79.9M | ||
| Q1 25 | $13.8M | $85.6M | ||
| Q4 24 | $9.3M | $363.1M | ||
| Q3 24 | $20.9M | $105.7M | ||
| Q2 24 | $2.2M | $83.2M | ||
| Q1 24 | $19.7M | $94.0M |
| Q4 25 | $6.2M | $299.8M | ||
| Q3 25 | $18.0M | $88.0M | ||
| Q2 25 | $5.2M | $73.8M | ||
| Q1 25 | $10.6M | $79.9M | ||
| Q4 24 | $4.9M | $344.4M | ||
| Q3 24 | $16.2M | $101.8M | ||
| Q2 24 | $-1.4M | $79.5M | ||
| Q1 24 | $16.2M | $88.6M |
| Q4 25 | 5.9% | 160.3% | ||
| Q3 25 | 17.5% | 46.6% | ||
| Q2 25 | 5.1% | 39.1% | ||
| Q1 25 | 9.9% | 42.4% | ||
| Q4 24 | 5.0% | 181.2% | ||
| Q3 24 | 16.1% | 52.6% | ||
| Q2 24 | -1.4% | 41.7% | ||
| Q1 24 | 15.6% | 45.2% |
| Q4 25 | 7.5% | 20.7% | ||
| Q3 25 | 6.5% | 6.5% | ||
| Q2 25 | 2.8% | 3.2% | ||
| Q1 25 | 3.0% | 3.0% | ||
| Q4 24 | 4.5% | 9.8% | ||
| Q3 24 | 4.6% | 2.0% | ||
| Q2 24 | 3.5% | 1.9% | ||
| Q1 24 | 3.4% | 2.7% |
| Q4 25 | 1.15× | 14.79× | ||
| Q3 25 | 3.76× | 5.44× | ||
| Q2 25 | 0.69× | 4.10× | ||
| Q1 25 | 0.66× | 6.59× | ||
| Q4 24 | 0.94× | 21.70× | ||
| Q3 24 | 2.11× | 5.65× | ||
| Q2 24 | 0.34× | 4.88× | ||
| Q1 24 | 2.83× | 1.59× |
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% |
NSA
Segment breakdown not available.
