A Business at a Glance
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SERVICE CORP INTERNATIONAL
SCI
$11.8B
Mkt Cap
$82.33
+3.77%
SERVICE CORP INTERNATIONAL (SCI) has a current P/E ratio of 21.7, compared to its historical median P/E of 18.8. The stock is currently considered Fair based on its historical valuation range.
SERVICE CORP INTERNATIONAL (SCI) has a 5-year average return on invested capital (ROIC) of 11.8%. This indicates solid capital allocation.
SERVICE CORP INTERNATIONAL (SCI) has a market capitalization of $11.4B. It is classified as a large-cap stock.
Yes, SERVICE CORP INTERNATIONAL (SCI) pays a dividend with a trailing twelve-month yield of 1.62%. The company also returns capital through share buybacks, with a buyback yield of 4.17%.
Based on historical P/E analysis, SERVICE CORP INTERNATIONAL (SCI) appears fair. The current P/E of 21.7 is 15% above its historical median of 18.8. The estimated fair value CAGR (P/E method) is 6.9%.
SERVICE CORP INTERNATIONAL (SCI) operates in the Services-Personal Services industry, within the Consumer Cyclical sector.
SERVICE CORP INTERNATIONAL (SCI) reported annual revenue of $4.3 billion in its most recent fiscal year, based on SEC EDGAR filings.
Service Corporation International (SCI) is North America's largest deathcare provider, operating 1,485 funeral service locations and 500 cemeteries across 44 U.S. states, eight Canadian provinces, the District of Columbia, and Puerto Rico. The company generates revenue through at-need and preneed sales of funeral and cemetery merchandise and services, operating under the Dignity Memorial brand and several other regional and specialized brands. SCI's business model combines recurring preneed contract sales—where customers purchase funeral and cemetery services in advance, often funded through insurance or trust arrangements—with at-need service delivery at the time of death, creating a diversified revenue stream with both upfront cash collection and deferred revenue recognition. The company operates a capital-efficient, geographically diversified network that benefits from scale advantages in procurement, brand recognition, and operational leverage, with approximately 25,000 employees (17,869 full-time and 7,318 part-time) serving a broad customer base across North America. Unit economics are characterized by high-margin preneed sales production that generates long-term backlog value, combined with at-need service revenue that benefits from average revenue per service growth driven by trust fund earnings and merchandise mix. The company's competitive moat derives from its unmatched geographic footprint, brand portfolio, established customer relationships, and the sticky nature of preneed contracts that lock in future revenue.
【Modest volume headwinds moderating】 Management expects funeral volumes to decline 1%–3% in 2026 as the COVID pull-forward effect continues to diminish, but anticipates this headwind will moderate as the year progresses and demographics and preneed backlog effects become more visible. Average revenue per funeral service is expected to grow at inflationary rates, supported by higher cumulative trust earnings on maturing preneed contracts and the company's operational decision to no longer deliver preneed merchandise at the time of sale, which increases the value of contracts maturing from the backlog. Preneed cemetery sales production is forecast to grow in the low- to mid-single-digit range, with cemetery segment margins expected to expand 30–60 basis points, while funeral segment margins are anticipated to be slightly down due to modest cremation mix increases and higher selling costs. The company remains focused on disciplined expense management, targeting fixed cost growth slightly below inflationary levels, and continues to pursue acquisitions within its $75 million–$125 million annual investment target while maintaining its capital deployment program of dividends and share repurchases.
| Metric | Target | Period |
|---|---|---|
| Normalized earnings per share | $4.05–$4.35 | FY2026 |
| Adjusted operating cash flow | $1.0 billion–$1.06 billion | FY2026 |
| Funeral volume decline | 1%–3% decline | FY2026 |
| Acquisition investment | $75 million–$125 million | FY2026 |
| Maintenance capital expenditure | $325 million | FY2026 |
| Cash taxes | $120 million | FY2026 |
| Effective tax rate | 25%–26% | FY2026 |
| Preneed cemetery sales production growth | low to mid-single-digit percentage range | FY2026 |
| Cemetery revenue growth | 2%–5% | FY2026 |
| Funeral segment gross margin expansion | 20–60 basis points | FY2026 |
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 4.3B | 4.3B | 4.2B | 4.1B | 4.1B | 4.1B |
| Net Income | 536M | 543M | 519M | 537M | 565M | 803M |
| EPS | $3.83 | $3.80 | $3.53 | $3.53 | $3.53 | $4.72 |
| Free Cash Flow | 575M | 554M | 571M | 507M | 456M | 617M |
| ROIC | 9.2% | 9.4% | 10.0% | 11.0% | 11.7% | 17.0% |
| Gross Margin | 26.2% | 26.5% | 26.1% | 26.6% | 28.1% | 31.9% |
| Debt/Equity | 4.17 | 4.02 | 3.71 | 3.53 | 2.94 | 2.08 |
| Dividends/Share | $1.34 | $1.30 | $1.12 | $1.02 | $1.02 | $0.88 |
| Operating Income | 970M | 978M | 928M | 944M | 927M | 1.2B |
| Operating Margin | 22.4% | 22.7% | 22.2% | 23.0% | 22.6% | 28.7% |
| ROE | 33.8% | 32.7% | 32.2% | 33.4% | 31.6% | 43.9% |
| Shares Outstanding | 138M | 143M | 147M | 152M | 160M | 170M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 3.0B | 3.0B | 3.0B | 3.1B | 3.2B | 3.2B | 3.5B | 4.1B | 4.1B | 4.1B | 4.2B | 4.3B | 4.3B |
| Gross Margin | 22.6% | 22.6% | 22.3% | 23.4% | 23.8% | 23.5% | 28.3% | 31.9% | 28.1% | 26.6% | 26.1% | 26.5% | 26.2% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 185M | 131M | 137M | 159M | 146M | 127M | 157M | 158M | 237M | 157M | 139M | 166M | 165M |
| EBIT | 608M | 550M | 513M | 571M | 631M | 667M | 843M | 1.2B | 927M | 944M | 928M | 978M | 970M |
| Op. Margin | 20.3% | 18.4% | 16.9% | 18.5% | 19.8% | 20.6% | 24.0% | 28.7% | 22.6% | 23.0% | 22.2% | 22.7% | 22.4% |
| Net Income | 172M | 234M | 177M | 547M | 447M | 370M | 516M | 803M | 565M | 537M | 519M | 543M | 536M |
| Net Margin | 5.8% | 7.8% | 5.8% | 17.7% | 14.0% | 11.4% | 14.7% | 19.4% | 13.8% | 13.1% | 12.4% | 12.6% | 12.4% |
| Non-Recurring | 5.1M | -390K | 31M | 0 | 16M | 33M | 7.0M | 25M | 10.0M | 9.8M | -1.0M | 8.1M | 8.1M |
| Returns on Capital | |||||||||||||
| ROIC | 8.1% | 8.2% | 7.3% | 13.1% | 13.4% | 10.5% | 12.7% | 17.0% | 11.7% | 11.0% | 10.0% | 9.4% | 9.2% |
| ROE | 12.2% | 18.3% | 15.5% | 43.7% | 29.3% | 21.3% | 28.9% | 43.9% | 31.6% | 33.4% | 32.2% | 32.7% | 33.8% |
| ROA | 1.4% | 2.0% | 1.5% | 4.4% | 3.5% | 2.8% | 3.7% | 5.3% | 3.7% | 3.4% | 3.1% | 3.0% | 2.9% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 317M | 472M | 489M | 503M | 616M | 629M | 804M | 921M | 826M | 869M | 945M | 943M | 965M |
| Free Cash Flow | 173M | 321M | 296M | 289M | 380M | 389M | 582M | 617M | 456M | 507M | 571M | 554M | 575M |
| Owner Earnings | 164M | 317M | 328M | 335M | 447M | 463M | 635M | 747M | 636M | 642M | 701M | 689M | -1.3B |
| CapEx | 144M | 151M | 193M | 215M | 236M | 240M | 222M | 304M | 370M | 362M | 374M | 389M | 390M |
| Maint. CapEx | 140M | 141M | 147M | 153M | 154M | 151M | 155M | 159M | 175M | 210M | 225M | 236M | 2.2B |
| Growth CapEx | 4.5M | 9.5M | 46M | 61M | 82M | 89M | 67M | 144M | 194M | 152M | 148M | 153M | 0 |
| D&A | 140M | 141M | 147M | 153M | 154M | 151M | 155M | 159M | 175M | 210M | 225M | 236M | 2.2B |
| CapEx/OCF | 45.5% | 32.0% | 41.7% | 42.6% | 38.2% | 38.2% | 27.6% | 33.0% | 44.8% | 41.6% | 39.5% | 41.2% | 40.4% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 72M | 88M | 98M | 109M | 124M | 131M | 137M | 147M | 160M | 168M | 174M | 184M | 185M |
| Dividend Yield | 2.0% | 1.9% | 2.3% | 2.0% | 1.9% | 1.8% | 1.9% | 1.6% | 1.6% | 1.8% | 1.6% | 1.6% | 1.6% |
| Share Buybacks | 243M | 345M | 228M | 200M | 278M | 130M | 517M | 554M | 661M | 545M | 254M | 461M | 474M |
| Buyback Yield | 6.0% | 7.6% | 4.7% | 3.2% | 4.2% | 1.7% | 6.4% | 4.9% | 6.2% | 5.4% | 2.2% | 4.1% | 4.2% |
| Stock-Based Comp | 13M | 14M | 14M | 15M | 16M | 15M | 14M | 14M | 15M | 17M | 19M | 18M | 18M |
| Debt Repayment | 231M | 160M | 36M | 469M | 34M | 25M | 34M | 36M | 36M | 22M | 24M | 21M | 21M |
| Balance Sheet | |||||||||||||
| Net Debt | 2.9B | 3.0B | 3.1B | 3.1B | 3.3B | 3.3B | 3.5B | 3.6B | 4.6B | 5.1B | 5.9B | 6.3B | 6.3B |
| Cash & Equiv. | 177M | 135M | 195M | 330M | 199M | 186M | 231M | 269M | 192M | 222M | 219M | 244M | 348M |
| Long-Term Debt | 3.0B | 3.0B | 3.2B | 3.1B | 3.5B | 3.5B | 3.5B | 3.9B | 4.3B | 4.6B | 4.8B | 5.1B | 5.1B |
| Debt/Equity | 2.26 | 2.66 | 3.05 | 2.51 | 2.21 | 1.99 | 2.16 | 2.08 | 2.94 | 3.53 | 3.71 | 4.02 | 4.17 |
| Interest Coverage | 3.4 | 3.2 | 3.2 | 3.4 | 3.5 | 3.6 | 5.2 | 7.9 | 5.4 | 3.9 | 3.6 | 3.8 | 3.8 |
| Equity | 1.4B | 1.2B | 1.1B | 1.4B | 1.6B | 1.8B | 1.8B | 1.9B | 1.7B | 1.5B | 1.7B | 1.6B | 1.6B |
| Total Assets | 11.9B | 11.7B | 12.0B | 12.9B | 12.7B | 13.7B | 14.5B | 15.7B | 15.1B | 16.4B | 17.4B | 18.7B | 18.6B |
| Total Liabilities | 10.5B | 10.5B | 10.9B | 11.5B | 11.1B | 11.9B | 12.8B | 13.8B | 13.4B | 14.8B | 15.7B | 17.0B | 34M |
| Intangibles | 394M | 370M | 368M | 374M | 434M | 431M | 441M | 472M | 481M | 485M | 512M | 474M | 474M |
| Retained Earnings | -82M | -109M | -103M | 210M | 474M | 602M | 561M | 727M | 544M | 432M | 554M | 499M | 459M |
| Working Capital | -155M | -211M | -183M | -348M | -224M | -183M | -440M | -287M | -439M | -251M | -347M | -334M | -343M |
| Current Assets | 397M | 300M | 354M | 481M | 331M | 374M | 376M | 441M | 360M | 498M | 377M | 412M | 448M |
| Current Liabilities | 552M | 511M | 538M | 829M | 556M | 557M | 816M | 728M | 799M | 749M | 724M | 746M | 791M |
| Per Share Data | |||||||||||||
| EPS | 0.81 | 1.14 | 0.90 | 2.84 | 2.39 | 1.99 | 2.88 | 4.72 | 3.53 | 3.53 | 3.53 | 3.80 | 3.83 |
| Owner EPS | 0.77 | 1.55 | 1.67 | 1.74 | 2.39 | 2.49 | 3.54 | 4.39 | 3.97 | 4.22 | 4.77 | 4.83 | -9.08 |
| Book Value | 6.43 | 5.78 | 5.55 | 7.32 | 8.77 | 9.82 | 9.78 | 11.22 | 10.45 | 10.13 | 11.42 | 11.47 | 11.47 |
| Cash Flow/Share | 1.49 | 2.30 | 2.49 | 2.62 | 3.29 | 3.39 | 4.49 | 5.41 | 5.16 | 5.71 | 6.43 | 6.60 | 19.81 |
| Dividends/Share | 0.34 | 0.44 | 0.51 | 0.58 | 0.58 | 0.68 | 0.77 | 0.88 | 1.02 | 1.02 | 1.12 | 1.30 | 1.34 |
| Shares Out. | 212.9M | 205.1M | 196.7M | 192.5M | 187.1M | 185.7M | 179.1M | 170.1M | 160.2M | 152.2M | 146.9M | 142.8M | 138.1M |
| Valuation | |||||||||||||
| P/E Ratio | 23.6 | 19.5 | 27.3 | 11.6 | 14.8 | 21.0 | 15.7 | 13.9 | 18.7 | 18.8 | 22.5 | 20.5 | 21.5 |
| P/FCF | 23.6 | 14.2 | 16.4 | 21.9 | 17.4 | 20.0 | 13.9 | 18.2 | 23.2 | 19.9 | 20.4 | 20.1 | 19.8 |
| EV/EBIT | 11.3 | 13.6 | 15.3 | 16.6 | 15.7 | 16.6 | 13.8 | 12.3 | 15.8 | 15.3 | 17.4 | 16.2 | 18.2 |
| Price/Book | 3.0 | 3.8 | 4.4 | 4.5 | 4.0 | 4.3 | 4.6 | 5.9 | 6.3 | 6.6 | 7.0 | 6.8 | 7.2 |
| Price/Sales | 1.2 | 1.6 | 1.4 | 1.8 | 2.1 | 2.3 | 2.0 | 2.2 | 2.4 | 2.3 | 2.6 | 2.6 | 2.6 |
| FCF Yield | 4.2% | 7.0% | 6.1% | 4.6% | 5.7% | 5.0% | 7.2% | 5.5% | 4.3% | 5.0% | 4.9% | 5.0% | 5.1% |
| Market Cap | 4.1B | 4.6B | 4.8B | 6.3B | 6.6B | 7.8B | 8.1B | 11.2B | 10.6B | 10.1B | 11.7B | 11.1B | 11.4B |
| Avg. Price | 16.70 | 22.92 | 22.13 | 28.70 | 35.16 | 39.73 | 39.94 | 53.38 | 62.27 | 62.14 | 73.00 | 78.41 | 82.33 |
| Year-End Price | 19.14 | 22.23 | 24.57 | 32.81 | 35.42 | 41.83 | 45.14 | 65.83 | 66.02 | 66.45 | 79.45 | 77.96 | 82.33 |
SERVICE CORP INTERNATIONAL passes 4 of 9 quality checks, suggesting mixed fundamentals.
SERVICE CORP INTERNATIONAL trades at 21.7x trailing earnings, compared to its 15-year median P/E of 18.8x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 20.7x vs a median of 20.0x. The company's 5-year average ROIC is 11.8% with a gross margin of 27.8%. Total shareholder yield (dividends + buybacks) is 5.8%. At current prices, the estimated annualized return to fair value is +7.9%.
SERVICE CORP INTERNATIONAL (SCI) has a net profit margin of 12.6%. This is a healthy margin.
SERVICE CORP INTERNATIONAL (SCI) generated $554 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
SERVICE CORP INTERNATIONAL (SCI) has a debt-to-equity ratio of 4.02. This indicates higher leverage, which may increase financial risk.
SERVICE CORP INTERNATIONAL (SCI) reported earnings per share (EPS) of $3.80 in its most recent fiscal year.
SERVICE CORP INTERNATIONAL (SCI) has a return on equity (ROE) of 32.7%. This indicates the company generates strong returns for shareholders.
SERVICE CORP INTERNATIONAL (SCI) has a 5-year average gross margin of 27.8%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 17 years of financial data for SERVICE CORP INTERNATIONAL (SCI), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
SERVICE CORP INTERNATIONAL (SCI) has a book value per share of $11.47, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects funeral volumes to decline 1%–3% in 2026 as the COVID pull-forward effect continues to diminish, but anticipates this headwind will moderate as the year progresses and demographics and preneed backlog effects become more visible. Average revenue per funeral service is expected to grow at inflationary rates, supported by higher cumulative trust earnings on maturing preneed contracts and the company's operational decision to no longer deliver preneed merchandise at the time of sale, which increases the value of contracts maturing from the backlog. Preneed cemetery sales production is forecast to grow in the low- to mid-single-digit range, with cemetery segment margins expected to expand 30–60 basis points, while funeral segment margins are anticipated to be slightly down due to modest cremation mix increases and higher selling costs. The company remains focused on disciplined expense management, targeting fixed cost growth slightly below inflationary levels, and continues to pursue acquisitions within its $75 million–$125 million annual investment target while maintaining its capital deployment program of dividends and share repurchases.
Based on recent SEC filings and earnings calls, SERVICE CORP INTERNATIONAL (SCI) has provided the following forward guidance: Normalized earnings per share: $4.05–$4.35 (FY2026); Adjusted operating cash flow: $1.0 billion–$1.06 billion (FY2026); Funeral volume decline: 1%–3% decline (FY2026); Acquisition investment: $75 million–$125 million (FY2026); Maintenance capital expenditure: $325 million (FY2026), plus 6 additional metrics.
| Cemetery segment gross margin expansion |
| 30–60 basis points |
| FY2026 |
Normalized earnings per share (FY2026): “we are reaffirming our 2026 normalized earnings per share guidance range of $4.05-$4.35”
Adjusted operating cash flow (FY2026): “we are confirming our 2026 adjusted operating cash flow guidance range of $1.0 billion-$1.06 billion”
Funeral volume decline (FY2026): “we expect the year-over-year rate of decline to moderate as the year progresses, resulting in a 1%-3% decline for the year”
Acquisition investment (FY2026): “we're on pace to achieve our $75 million-$125 million acquisition investment target for 2026”
Maintenance capital expenditure (FY2026): “We expect maintenance CapEx in 2026 to be about $325 million, which is generally in line and flat with the levels we incurred in 2025”
Cash taxes (FY2026): “we anticipate full-year cash taxes to be about $120 million at a normalized cash tax rate of around 15%-16%”
Effective tax rate (FY2026): “we expect full year 2026's ETR to trend in the line with 2025 at 25%-26%”
Preneed cemetery sales production growth (FY2026): “For the cemetery segment, we anticipate that we can grow pre-need cemetery sales production in the low to mid-single-digit percentage range”