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Side-by-side financial comparison of CARRIAGE SERVICES INC (CSV) and TREX CO INC (TREX). Click either name above to swap in a different company.

TREX CO INC is the larger business by last-quarter revenue ($161.1M vs $105.5M, roughly 1.5× CARRIAGE SERVICES INC). CARRIAGE SERVICES INC runs the higher net margin — 11.6% vs 1.4%, a 10.2% gap on every dollar of revenue. On growth, CARRIAGE SERVICES INC posted the faster year-over-year revenue change (8.0% vs -3.9%). TREX CO INC produced more free cash flow last quarter ($22.1M vs $6.2M). Over the past eight quarters, CARRIAGE SERVICES INC's revenue compounded faster (1.0% CAGR vs -34.3%).

Jardine Cycle & Carriage Limited is the investment holding company of Jardines in Southeast Asia. It is currently 75% held by the conglomerate.

Trex Company, Inc. is a manufacturer of wood-alternative composite decking, residential railing, and other outdoor items made from recycled materials. Its headquarters is in Winchester, Virginia.

CSV vs TREX — Head-to-Head

Bigger by revenue
TREX
TREX
1.5× larger
TREX
$161.1M
$105.5M
CSV
Growing faster (revenue YoY)
CSV
CSV
+11.8% gap
CSV
8.0%
-3.9%
TREX
Higher net margin
CSV
CSV
10.2% more per $
CSV
11.6%
1.4%
TREX
More free cash flow
TREX
TREX
$15.9M more FCF
TREX
$22.1M
$6.2M
CSV
Faster 2-yr revenue CAGR
CSV
CSV
Annualised
CSV
1.0%
-34.3%
TREX

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
CSV
CSV
TREX
TREX
Revenue
$105.5M
$161.1M
Net Profit
$12.3M
$2.3M
Gross Margin
34.8%
30.2%
Operating Margin
23.3%
2.2%
Net Margin
11.6%
1.4%
Revenue YoY
8.0%
-3.9%
Net Profit YoY
24.5%
-76.4%
EPS (diluted)
$0.76
$0.03

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.

Revenue
CSV
CSV
TREX
TREX
Q4 25
$105.5M
$161.1M
Q3 25
$102.7M
$285.3M
Q2 25
$102.1M
$387.8M
Q1 25
$107.1M
$340.0M
Q4 24
$97.7M
$167.6M
Q3 24
$100.7M
$233.7M
Q2 24
$102.3M
$376.5M
Q1 24
$103.5M
$373.6M
Net Profit
CSV
CSV
TREX
TREX
Q4 25
$12.3M
$2.3M
Q3 25
$6.6M
$51.8M
Q2 25
$11.7M
$75.9M
Q1 25
$20.9M
$60.4M
Q4 24
$9.9M
$9.8M
Q3 24
$9.9M
$40.6M
Q2 24
$6.3M
$87.0M
Q1 24
$7.0M
$89.1M
Gross Margin
CSV
CSV
TREX
TREX
Q4 25
34.8%
30.2%
Q3 25
35.3%
40.5%
Q2 25
35.2%
40.8%
Q1 25
35.3%
40.5%
Q4 24
34.4%
32.7%
Q3 24
35.2%
39.9%
Q2 24
36.2%
44.7%
Q1 24
36.0%
45.4%
Operating Margin
CSV
CSV
TREX
TREX
Q4 25
23.3%
2.2%
Q3 25
17.0%
24.7%
Q2 25
23.5%
26.4%
Q1 25
29.5%
24.0%
Q4 24
21.6%
9.2%
Q3 24
22.7%
23.2%
Q2 24
18.0%
31.1%
Q1 24
18.8%
31.9%
Net Margin
CSV
CSV
TREX
TREX
Q4 25
11.6%
1.4%
Q3 25
6.4%
18.1%
Q2 25
11.5%
19.6%
Q1 25
19.5%
17.8%
Q4 24
10.1%
5.8%
Q3 24
9.8%
17.4%
Q2 24
6.1%
23.1%
Q1 24
6.7%
23.8%
EPS (diluted)
CSV
CSV
TREX
TREX
Q4 25
$0.76
$0.03
Q3 25
$0.41
$0.48
Q2 25
$0.74
$0.71
Q1 25
$1.34
$0.56
Q4 24
$0.62
$0.10
Q3 24
$0.63
$0.37
Q2 24
$0.40
$0.80
Q1 24
$0.45
$0.82

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
CSV
CSV
TREX
TREX
Cash + ST InvestmentsLiquidity on hand
$1.7M
$3.8M
Total DebtLower is stronger
Stockholders' EquityBook value
$254.8M
$1.0B
Total Assets
$1.3B
$1.5B
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
CSV
CSV
TREX
TREX
Q4 25
$1.7M
$3.8M
Q3 25
$1.2M
$11.4M
Q2 25
$1.4M
$5.5M
Q1 25
$4.6M
$5.0M
Q4 24
$1.2M
$1.3M
Q3 24
$1.3M
$12.8M
Q2 24
$1.5M
$1.2M
Q1 24
$1.7M
$3.1M
Stockholders' Equity
CSV
CSV
TREX
TREX
Q4 25
$254.8M
$1.0B
Q3 25
$242.1M
$1.0B
Q2 25
$235.4M
$989.3M
Q1 25
$223.1M
$910.1M
Q4 24
$208.6M
$850.1M
Q3 24
$198.1M
$887.9M
Q2 24
$187.9M
$894.9M
Q1 24
$179.6M
$804.1M
Total Assets
CSV
CSV
TREX
TREX
Q4 25
$1.3B
$1.5B
Q3 25
$1.3B
$1.5B
Q2 25
$1.3B
$1.5B
Q1 25
$1.3B
$1.6B
Q4 24
$1.3B
$1.3B
Q3 24
$1.3B
$1.3B
Q2 24
$1.3B
$1.3B
Q1 24
$1.3B
$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
CSV
CSV
TREX
TREX
Operating Cash FlowLast quarter
$14.1M
$65.5M
Free Cash FlowOCF − Capex
$6.2M
$22.1M
FCF MarginFCF / Revenue
5.9%
13.7%
Capex IntensityCapex / Revenue
7.5%
26.9%
Cash ConversionOCF / Net Profit
1.15×
28.45×
TTM Free Cash FlowTrailing 4 quarters
$40.1M
$134.5M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
CSV
CSV
TREX
TREX
Q4 25
$14.1M
$65.5M
Q3 25
$24.7M
$196.9M
Q2 25
$8.1M
$249.8M
Q1 25
$13.8M
$-154.0M
Q4 24
$9.3M
$-8.5M
Q3 24
$20.9M
$132.8M
Q2 24
$2.2M
$193.7M
Q1 24
$19.7M
$-174.0M
Free Cash Flow
CSV
CSV
TREX
TREX
Q4 25
$6.2M
$22.1M
Q3 25
$18.0M
$142.9M
Q2 25
$5.2M
$203.0M
Q1 25
$10.6M
$-233.5M
Q4 24
$4.9M
$-89.3M
Q3 24
$16.2M
$54.5M
Q2 24
$-1.4M
$158.2M
Q1 24
$16.2M
$-211.8M
FCF Margin
CSV
CSV
TREX
TREX
Q4 25
5.9%
13.7%
Q3 25
17.5%
50.1%
Q2 25
5.1%
52.3%
Q1 25
9.9%
-68.7%
Q4 24
5.0%
-53.3%
Q3 24
16.1%
23.3%
Q2 24
-1.4%
42.0%
Q1 24
15.6%
-56.7%
Capex Intensity
CSV
CSV
TREX
TREX
Q4 25
7.5%
26.9%
Q3 25
6.5%
18.9%
Q2 25
2.8%
12.1%
Q1 25
3.0%
23.4%
Q4 24
4.5%
48.2%
Q3 24
4.6%
33.5%
Q2 24
3.5%
9.4%
Q1 24
3.4%
10.1%
Cash Conversion
CSV
CSV
TREX
TREX
Q4 25
1.15×
28.45×
Q3 25
3.76×
3.80×
Q2 25
0.69×
3.29×
Q1 25
0.66×
-2.55×
Q4 24
0.94×
-0.87×
Q3 24
2.11×
3.27×
Q2 24
0.34×
2.23×
Q1 24
2.83×
-1.95×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

CSV
CSV

Propertyand Merchandise$47.8M45%
Cemetery Interment Rights$24.8M23%
Merchandise$18.9M18%
Other Revenue$10.2M10%
Other$3.9M4%

TREX
TREX

Segment breakdown not available.

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