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Side-by-side financial comparison of CARRIAGE SERVICES INC (CSV) and Shoals Technologies Group, Inc. (SHLS). Click either name above to swap in a different company.
Shoals Technologies Group, Inc. is the larger business by last-quarter revenue ($148.3M vs $105.5M, roughly 1.4× CARRIAGE SERVICES INC). CARRIAGE SERVICES INC runs the higher net margin — 11.6% vs 5.5%, a 6.2% gap on every dollar of revenue. On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (38.6% vs 8.0%). CARRIAGE SERVICES INC produced more free cash flow last quarter ($6.2M vs $-11.3M). Over the past eight quarters, Shoals Technologies Group, Inc.'s revenue compounded faster (27.8% 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.
Shoals Technologies Group is a leading provider of electrical balance of systems solutions for renewable energy and e-mobility. It supplies connectivity components for solar projects, energy storage systems and EV charging infrastructure, serving clients across North America, Europe and Asia-Pacific.
CSV vs SHLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $105.5M | $148.3M |
| Net Profit | $12.3M | $8.1M |
| Gross Margin | 34.8% | 31.6% |
| Operating Margin | 23.3% | 11.7% |
| Net Margin | 11.6% | 5.5% |
| Revenue YoY | 8.0% | 38.6% |
| Net Profit YoY | 24.5% | 3.9% |
| EPS (diluted) | $0.76 | $0.05 |
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 | $148.3M | ||
| Q3 25 | $102.7M | $135.8M | ||
| Q2 25 | $102.1M | $110.8M | ||
| Q1 25 | $107.1M | $80.4M | ||
| Q4 24 | $97.7M | $107.0M | ||
| Q3 24 | $100.7M | $102.2M | ||
| Q2 24 | $102.3M | $99.2M | ||
| Q1 24 | $103.5M | $90.8M |
| Q4 25 | $12.3M | $8.1M | ||
| Q3 25 | $6.6M | $11.9M | ||
| Q2 25 | $11.7M | $13.9M | ||
| Q1 25 | $20.9M | $-282.0K | ||
| Q4 24 | $9.9M | $7.8M | ||
| Q3 24 | $9.9M | $-267.0K | ||
| Q2 24 | $6.3M | $11.8M | ||
| Q1 24 | $7.0M | $4.8M |
| Q4 25 | 34.8% | 31.6% | ||
| Q3 25 | 35.3% | 37.0% | ||
| Q2 25 | 35.2% | 37.2% | ||
| Q1 25 | 35.3% | 35.0% | ||
| Q4 24 | 34.4% | 37.6% | ||
| Q3 24 | 35.2% | 24.8% | ||
| Q2 24 | 36.2% | 40.3% | ||
| Q1 24 | 36.0% | 40.2% |
| Q4 25 | 23.3% | 11.7% | ||
| Q3 25 | 17.0% | 13.7% | ||
| Q2 25 | 23.5% | 14.4% | ||
| Q1 25 | 29.5% | 5.4% | ||
| Q4 24 | 21.6% | 15.4% | ||
| Q3 24 | 22.7% | 4.4% | ||
| Q2 24 | 18.0% | 18.7% | ||
| Q1 24 | 18.8% | 12.8% |
| Q4 25 | 11.6% | 5.5% | ||
| Q3 25 | 6.4% | 8.7% | ||
| Q2 25 | 11.5% | 12.5% | ||
| Q1 25 | 19.5% | -0.4% | ||
| Q4 24 | 10.1% | 7.3% | ||
| Q3 24 | 9.8% | -0.3% | ||
| Q2 24 | 6.1% | 11.9% | ||
| Q1 24 | 6.7% | 5.3% |
| Q4 25 | $0.76 | $0.05 | ||
| Q3 25 | $0.41 | $0.07 | ||
| Q2 25 | $0.74 | $0.08 | ||
| Q1 25 | $1.34 | $0.00 | ||
| Q4 24 | $0.62 | $0.04 | ||
| Q3 24 | $0.63 | $0.00 | ||
| Q2 24 | $0.40 | $0.07 | ||
| Q1 24 | $0.45 | $0.03 |
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 | $7.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $254.8M | $600.0M |
| Total Assets | $1.3B | $904.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7M | $7.3M | ||
| Q3 25 | $1.2M | $8.6M | ||
| Q2 25 | $1.4M | $4.7M | ||
| Q1 25 | $4.6M | $35.6M | ||
| Q4 24 | $1.2M | $23.5M | ||
| Q3 24 | $1.3M | $11.1M | ||
| Q2 24 | $1.5M | $3.2M | ||
| Q1 24 | $1.7M | $15.2M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $141.8M | ||
| Q4 24 | — | $141.8M | ||
| Q3 24 | — | $141.8M | ||
| Q2 24 | — | $146.8M | ||
| Q1 24 | — | $168.8M |
| Q4 25 | $254.8M | $600.0M | ||
| Q3 25 | $242.1M | $589.6M | ||
| Q2 25 | $235.4M | $575.4M | ||
| Q1 25 | $223.1M | $558.9M | ||
| Q4 24 | $208.6M | $556.8M | ||
| Q3 24 | $198.1M | $545.2M | ||
| Q2 24 | $187.9M | $544.6M | ||
| Q1 24 | $179.6M | $554.0M |
| Q4 25 | $1.3B | $904.1M | ||
| Q3 25 | $1.3B | $851.8M | ||
| Q2 25 | $1.3B | $795.0M | ||
| Q1 25 | $1.3B | $788.4M | ||
| Q4 24 | $1.3B | $793.1M | ||
| Q3 24 | $1.3B | $801.3M | ||
| Q2 24 | $1.3B | $788.4M | ||
| Q1 24 | $1.3B | $825.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.25× | ||
| Q4 24 | — | 0.25× | ||
| Q3 24 | — | 0.26× | ||
| Q2 24 | — | 0.27× | ||
| Q1 24 | — | 0.30× |
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 | $-4.1M |
| Free Cash FlowOCF − Capex | $6.2M | $-11.3M |
| FCF MarginFCF / Revenue | 5.9% | -7.6% |
| Capex IntensityCapex / Revenue | 7.5% | 4.8% |
| Cash ConversionOCF / Net Profit | 1.15× | -0.50× |
| TTM Free Cash FlowTrailing 4 quarters | $40.1M | $-16.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $14.1M | $-4.1M | ||
| Q3 25 | $24.7M | $19.4M | ||
| Q2 25 | $8.1M | $-13.8M | ||
| Q1 25 | $13.8M | $15.6M | ||
| Q4 24 | $9.3M | $14.0M | ||
| Q3 24 | $20.9M | $15.7M | ||
| Q2 24 | $2.2M | $37.8M | ||
| Q1 24 | $19.7M | $12.9M |
| Q4 25 | $6.2M | $-11.3M | ||
| Q3 25 | $18.0M | $9.0M | ||
| Q2 25 | $5.2M | $-26.0M | ||
| Q1 25 | $10.6M | $12.3M | ||
| Q4 24 | $4.9M | $12.5M | ||
| Q3 24 | $16.2M | $13.3M | ||
| Q2 24 | $-1.4M | $35.8M | ||
| Q1 24 | $16.2M | $10.4M |
| Q4 25 | 5.9% | -7.6% | ||
| Q3 25 | 17.5% | 6.6% | ||
| Q2 25 | 5.1% | -23.5% | ||
| Q1 25 | 9.9% | 15.4% | ||
| Q4 24 | 5.0% | 11.6% | ||
| Q3 24 | 16.1% | 13.0% | ||
| Q2 24 | -1.4% | 36.1% | ||
| Q1 24 | 15.6% | 11.4% |
| Q4 25 | 7.5% | 4.8% | ||
| Q3 25 | 6.5% | 7.7% | ||
| Q2 25 | 2.8% | 11.0% | ||
| Q1 25 | 3.0% | 4.0% | ||
| Q4 24 | 4.5% | 1.4% | ||
| Q3 24 | 4.6% | 2.3% | ||
| Q2 24 | 3.5% | 2.0% | ||
| Q1 24 | 3.4% | 2.7% |
| Q4 25 | 1.15× | -0.50× | ||
| Q3 25 | 3.76× | 1.63× | ||
| Q2 25 | 0.69× | -1.00× | ||
| Q1 25 | 0.66× | — | ||
| Q4 24 | 0.94× | 1.79× | ||
| Q3 24 | 2.11× | — | ||
| Q2 24 | 0.34× | 3.21× | ||
| Q1 24 | 2.83× | 2.69× |
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% |
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
