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Side-by-side financial comparison of CARRIAGE SERVICES INC (CSV) and Safehold Inc. (SAFE). Click either name above to swap in a different company.
CARRIAGE SERVICES INC is the larger business by last-quarter revenue ($105.5M vs $97.9M, roughly 1.1× Safehold Inc.). Safehold Inc. runs the higher net margin — 28.5% vs 11.6%, a 16.8% gap on every dollar of revenue. On growth, CARRIAGE SERVICES INC posted the faster year-over-year revenue change (8.0% vs 6.5%). Over the past eight quarters, Safehold Inc.'s revenue compounded faster (2.5% 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.
SAFE Investment Company Limited is a Chinese sovereign wealth fund based in Hong Kong.
CSV vs SAFE — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $105.5M | $97.9M |
| Net Profit | $12.3M | $27.9M |
| Gross Margin | 34.8% | 98.6% |
| Operating Margin | 23.3% | 27.4% |
| Net Margin | 11.6% | 28.5% |
| Revenue YoY | 8.0% | 6.5% |
| Net Profit YoY | 24.5% | 7.1% |
| EPS (diluted) | $0.76 | $0.38 |
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 | $97.9M | ||
| Q3 25 | $102.7M | $96.2M | ||
| Q2 25 | $102.1M | $93.8M | ||
| Q1 25 | $107.1M | $97.7M | ||
| Q4 24 | $97.7M | $91.9M | ||
| Q3 24 | $100.7M | $90.7M | ||
| Q2 24 | $102.3M | $89.9M | ||
| Q1 24 | $103.5M | $93.2M |
| Q4 25 | $12.3M | $27.9M | ||
| Q3 25 | $6.6M | $29.3M | ||
| Q2 25 | $11.7M | $27.9M | ||
| Q1 25 | $20.9M | $29.4M | ||
| Q4 24 | $9.9M | $26.0M | ||
| Q3 24 | $9.9M | $19.3M | ||
| Q2 24 | $6.3M | $29.7M | ||
| Q1 24 | $7.0M | $30.7M |
| Q4 25 | 34.8% | 98.6% | ||
| Q3 25 | 35.3% | 98.5% | ||
| Q2 25 | 35.2% | 99.1% | ||
| Q1 25 | 35.3% | 98.8% | ||
| Q4 24 | 34.4% | 98.8% | ||
| Q3 24 | 35.2% | 98.8% | ||
| Q2 24 | 36.2% | 98.8% | ||
| Q1 24 | 36.0% | 98.8% |
| Q4 25 | 23.3% | 27.4% | ||
| Q3 25 | 17.0% | 25.9% | ||
| Q2 25 | 23.5% | 25.5% | ||
| Q1 25 | 29.5% | 25.9% | ||
| Q4 24 | 21.6% | 24.6% | ||
| Q3 24 | 22.7% | 17.5% | ||
| Q2 24 | 18.0% | 26.7% | ||
| Q1 24 | 18.8% | 26.4% |
| Q4 25 | 11.6% | 28.5% | ||
| Q3 25 | 6.4% | 30.5% | ||
| Q2 25 | 11.5% | 29.8% | ||
| Q1 25 | 19.5% | 30.1% | ||
| Q4 24 | 10.1% | 28.3% | ||
| Q3 24 | 9.8% | 21.3% | ||
| Q2 24 | 6.1% | 33.0% | ||
| Q1 24 | 6.7% | 33.0% |
| Q4 25 | $0.76 | $0.38 | ||
| Q3 25 | $0.41 | $0.41 | ||
| Q2 25 | $0.74 | $0.39 | ||
| Q1 25 | $1.34 | $0.41 | ||
| Q4 24 | $0.62 | $0.36 | ||
| Q3 24 | $0.63 | $0.27 | ||
| Q2 24 | $0.40 | $0.42 | ||
| Q1 24 | $0.45 | $0.43 |
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 | $21.7M |
| Total DebtLower is stronger | — | $4.6B |
| Stockholders' EquityBook value | $254.8M | $2.4B |
| Total Assets | $1.3B | $7.2B |
| Debt / EquityLower = less leverage | — | 1.90× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7M | $21.7M | ||
| Q3 25 | $1.2M | $12.1M | ||
| Q2 25 | $1.4M | $13.9M | ||
| Q1 25 | $4.6M | $17.3M | ||
| Q4 24 | $1.2M | $8.3M | ||
| Q3 24 | $1.3M | $15.6M | ||
| Q2 24 | $1.5M | $13.4M | ||
| Q1 24 | $1.7M | $11.3M |
| Q4 25 | — | $4.6B | ||
| Q3 25 | — | $4.5B | ||
| Q2 25 | — | $4.4B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | — | $4.3B | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | — | $4.2B | ||
| Q1 24 | — | $4.1B |
| Q4 25 | $254.8M | $2.4B | ||
| Q3 25 | $242.1M | $2.4B | ||
| Q2 25 | $235.4M | $2.4B | ||
| Q1 25 | $223.1M | $2.4B | ||
| Q4 24 | $208.6M | $2.3B | ||
| Q3 24 | $198.1M | $2.3B | ||
| Q2 24 | $187.9M | $2.3B | ||
| Q1 24 | $179.6M | $2.3B |
| Q4 25 | $1.3B | $7.2B | ||
| Q3 25 | $1.3B | $7.1B | ||
| Q2 25 | $1.3B | $7.1B | ||
| Q1 25 | $1.3B | $6.9B | ||
| Q4 24 | $1.3B | $6.9B | ||
| Q3 24 | $1.3B | $6.8B | ||
| Q2 24 | $1.3B | $6.8B | ||
| Q1 24 | $1.3B | $6.7B |
| Q4 25 | — | 1.90× | ||
| Q3 25 | — | 1.89× | ||
| Q2 25 | — | 1.87× | ||
| Q1 25 | — | 1.85× | ||
| Q4 24 | — | 1.84× | ||
| Q3 24 | — | 1.88× | ||
| Q2 24 | — | 1.81× | ||
| Q1 24 | — | 1.81× |
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 | $47.8M |
| Free Cash FlowOCF − Capex | $6.2M | — |
| FCF MarginFCF / Revenue | 5.9% | — |
| Capex IntensityCapex / Revenue | 7.5% | — |
| Cash ConversionOCF / Net Profit | 1.15× | 1.72× |
| TTM Free Cash FlowTrailing 4 quarters | $40.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $14.1M | $47.8M | ||
| Q3 25 | $24.7M | $-1.4M | ||
| Q2 25 | $8.1M | $28.0M | ||
| Q1 25 | $13.8M | $8.9M | ||
| Q4 24 | $9.3M | $37.9M | ||
| Q3 24 | $20.9M | $8.3M | ||
| Q2 24 | $2.2M | $24.8M | ||
| Q1 24 | $19.7M | $-3.1M |
| Q4 25 | $6.2M | — | ||
| Q3 25 | $18.0M | — | ||
| Q2 25 | $5.2M | — | ||
| Q1 25 | $10.6M | — | ||
| Q4 24 | $4.9M | — | ||
| Q3 24 | $16.2M | — | ||
| Q2 24 | $-1.4M | — | ||
| Q1 24 | $16.2M | — |
| Q4 25 | 5.9% | — | ||
| Q3 25 | 17.5% | — | ||
| Q2 25 | 5.1% | — | ||
| Q1 25 | 9.9% | — | ||
| Q4 24 | 5.0% | — | ||
| Q3 24 | 16.1% | — | ||
| Q2 24 | -1.4% | — | ||
| Q1 24 | 15.6% | — |
| Q4 25 | 7.5% | — | ||
| Q3 25 | 6.5% | — | ||
| Q2 25 | 2.8% | — | ||
| Q1 25 | 3.0% | — | ||
| Q4 24 | 4.5% | — | ||
| Q3 24 | 4.6% | — | ||
| Q2 24 | 3.5% | — | ||
| Q1 24 | 3.4% | — |
| Q4 25 | 1.15× | 1.72× | ||
| Q3 25 | 3.76× | -0.05× | ||
| Q2 25 | 0.69× | 1.00× | ||
| Q1 25 | 0.66× | 0.30× | ||
| Q4 24 | 0.94× | 1.45× | ||
| Q3 24 | 2.11× | 0.43× | ||
| Q2 24 | 0.34× | 0.83× | ||
| Q1 24 | 2.83× | -0.10× |
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% |
SAFE
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $60.3M | 62% |
| Other | $33.7M | 34% |
| Stabilized Properties | $3.8M | 4% |
