Revenue growth remains stable with quarterly year-over-year increases between 1.2% and 4.4%, though gross margins are capped by inflationary pressures within a narrow 24.9% to 28.0% range.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Sales/Revenue | 4.33B | 4.31B | 4.19B | 4.1B | 4.11B | 4.14B | 3.51B | 3.23B | 3.19B | 3.1B | 3.03B | 2.99B | 2.99B | 2.56B | 2.41B | 2.32B | 2.19B | 2.05B | 2.16B | 2.29B | 1.75B | 1.72B | 1.86B | 2.34B | 2.27B | 2.51B | 2.56B | 3.32B | 2.88B | 2.47B | 2.29B |
| Revenue Growth % | 2.76% | 2.93% | 2.11% | -0.22% | -0.83% | 17.99% | 8.69% | 1.27% | 3.07% | 2.11% | 1.5% | -0.25% | 17.12% | 6.05% | 4.08% | 5.73% | 6.67% | -4.74% | -5.67% | 30.79% | 1.85% | -7.73% | -20.6% | 3.05% | -9.48% | -2.12% | -22.79% | 15.54% | 16.48% | 7.59% | 38.87% |
| Cost of Goods Sold | 3.2B | 3.17B | 3.1B | 3.01B | 2.95B | 2.82B | 2.53B | 2.47B | 2.43B | 2.37B | 2.35B | 2.31B | 2.32B | 2.01B | 1.89B | 1.84B | 1.74B | 1.63B | 1.74B | 1.82B | 1.4B | 1.42B | 1.52B | 1.98B | 1.91B | 2.15B | 2.01B | 2.46B | 1.95B | 1.62B | 1.56B |
| COGS % of Revenue | - | 73.54% | 73.95% | 73.37% | 71.9% | 68.07% | 72.18% | 76.46% | 76.17% | 76.67% | 77.68% | 77.5% | 77.43% | 78.5% | 78.21% | 79.34% | 79.49% | 79.49% | 80.57% | 79.5% | 80.27% | 82.58% | 82.01% | 84.38% | 83.99% | 85.68% | 78.49% | 73.94% | 67.96% | 65.76% | 67.99% |
| Gross Profit | 1.14B | 1.14B | 1.09B | 1.09B | 1.15B | 1.32B | 976.83M | 760.58M | 760.32M | 722.19M | 676.43M | 671.95M | 675.81M | 549.57M | 525.23M | 478.54M | 449.22M | 421.18M | 418.77M | 468.5M | 344.67M | 298.83M | 334.5M | 365.8M | 363.92M | 359.39M | 551.67M | 865.8M | 921.1M | 845.2M | 734.3M |
| Gross Margin % | 26.21% | 26.46% | 26.05% | 26.63% | 28.1% | 31.93% | 27.82% | 23.54% | 23.83% | 23.33% | 22.32% | 22.5% | 22.57% | 21.5% | 21.79% | 20.66% | 20.51% | 20.51% | 19.43% | 20.5% | 19.73% | 17.42% | 17.99% | 15.62% | 16.01% | 14.32% | 21.51% | 26.06% | 32.04% | 34.24% | 32.01% |
| Gross Profit Growth % | - | 4.53% | -0.11% | -5.44% | -12.73% | 35.45% | 28.43% | 0.03% | 5.28% | 6.76% | 0.67% | -0.57% | 22.97% | 4.63% | 9.76% | 6.53% | 6.66% | 0.58% | -10.61% | 35.93% | 15.34% | -10.66% | -8.56% | 0.52% | 1.26% | -34.86% | -36.28% | -6% | 8.98% | 15.1% | 30.29% |
| Operating Expenses | 163.7M | 166.16M | 162.98M | 147.55M | 227.29M | 132.4M | 134.06M | 126.89M | 145.5M | 154.42M | 137.73M | 128.19M | 184.88M | 155.14M | 123.91M | 114.84M | 103.69M | 97.3M | 1.86B | 139.25M | 134.86M | 70.55M | 104.85M | 136.75M | 378.81M | 70.31M | 303.96M | 334.7M | 269.1M | 224.4M | 193M |
| OpEx % of Revenue | - | 3.86% | 3.89% | 3.6% | 5.53% | 3.2% | 3.82% | 3.93% | 4.56% | 4.99% | 4.54% | 4.29% | 6.17% | 6.07% | 5.14% | 4.96% | 4.73% | 4.74% | 86.42% | 6.09% | 7.72% | 4.11% | 5.64% | 5.84% | 16.67% | 2.8% | 11.85% | 10.08% | 9.36% | 9.09% | 8.41% |
| Selling, General & Admin | 165.37M | 166.16M | 139.02M | 157.37M | 237.25M | 138.11M | 141.07M | 126.89M | 145.5M | 154.42M | 137.73M | 128.19M | 184.88M | 155.14M | 123.91M | 103.86M | 103.69M | 102.29M | 87.45M | 137.41M | 94.9M | 84.81M | 130.9M | 178.1M | 89.75M | 70.31M | 79.93M | 82.6M | 66.8M | 66.8M | 63.2M |
| SG&A % of Revenue | - | 3.86% | 3.32% | 3.84% | 5.77% | 3.33% | 4.02% | 3.93% | 4.56% | 4.99% | 4.54% | 4.29% | 6.17% | 6.07% | 5.14% | 4.48% | 4.73% | 4.98% | 4.06% | 6.01% | 5.43% | 4.94% | 7.04% | 7.61% | 3.95% | 2.8% | 3.12% | 2.49% | 2.32% | 2.71% | 2.75% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | -180K | 0 | 23.96M | -9.82M | -9.96M | -5.71M | -7.01M | 299K | 0 | 460K | -631K | -113K | 1.78M | -559K | 0 | 0 | 0 | -740K | 2.53M | 1.85M | 39.96M | -14.26M | -26.04M | -41.35M | 289.05M | 0 | 224.03M | 252.1M | 202.3M | 157.6M | 129.8M |
| Operating Income | 971.41M | 973.92M | 927.68M | 944.25M | 927.32M | 1.19B | 842.77M | 666.61M | 630.66M | 569.2M | 511.88M | 550.28M | 607.55M | 388.17M | 399.79M | 363.7M | 354.05M | 323.89M | 292.67M | 346.17M | 191.09M | 187.92M | 229.65M | 229.04M | -14.89M | -355.07M | 247.71M | 531.1M | 652M | 620.8M | 541.3M |
| Operating Margin % | 22.43% | 22.6% | 22.16% | 23.03% | 22.57% | 28.74% | 24% | 20.63% | 19.77% | 18.39% | 16.89% | 18.43% | 20.29% | 15.18% | 16.59% | 15.7% | 16.16% | 15.77% | 13.58% | 15.15% | 10.94% | 10.95% | 12.35% | 9.78% | -0.66% | -14.14% | 9.66% | 15.99% | 22.68% | 25.15% | 23.59% |
| Operating Income Growth % | - | 4.98% | -1.76% | 1.83% | -22.12% | 41.28% | 26.43% | 5.7% | 10.8% | 11.2% | -6.98% | -9.43% | 56.52% | -2.91% | 9.92% | 2.73% | 9.31% | 10.67% | -15.45% | 81.16% | 1.68% | -18.17% | 0.26% | 1638.13% | 95.81% | -243.34% | -53.36% | -18.54% | 5.03% | 14.69% | 31.51% |
| EBITDA | 1.24B | 1.31B | 1.26B | 1.26B | 1.22B | 1.47B | 1.1B | 913.59M | 879.14M | 818.09M | 756.82M | 785.6M | 844.63M | 580.98M | 588.85M | 547.38M | 528.05M | 487.35M | 466.73M | 518.68M | 332.36M | 275.37M | 374.94M | 390.1M | 113.66M | -161.13M | 471.74M | 783.2M | 854.3M | 778.4M | 671.1M |
| EBITDA Margin % | 28.63% | 30.5% | 29.99% | 30.62% | 29.57% | 35.44% | 31.35% | 28.28% | 27.56% | 26.43% | 24.97% | 26.31% | 28.21% | 22.73% | 24.43% | 23.63% | 24.11% | 23.73% | 21.65% | 22.7% | 19.02% | 16.05% | 20.17% | 16.66% | 5% | -6.42% | 18.39% | 23.58% | 29.71% | 31.53% | 29.25% |
| EBITDA Growth % | -3.07% | 4.67% | 0.01% | 3.32% | -17.23% | 33.36% | 20.5% | 3.92% | 7.46% | 8.1% | -3.66% | -6.99% | 45.38% | -1.34% | 7.57% | 3.66% | 8.35% | 4.42% | -10.02% | 56.06% | 20.7% | -26.56% | -3.89% | 243.23% | 170.53% | -134.16% | -39.77% | -8.32% | 9.75% | 15.99% | 31.59% |
| D&A (Non-Cash Add-back) | 268.82M | 340.29M | 327.94M | 311.24M | 287.81M | 277.47M | 258.15M | 246.98M | 248.49M | 248.89M | 244.93M | 235.32M | 237.08M | 192.81M | 189.06M | 183.68M | 174.01M | 163.46M | 174.06M | 172.51M | 141.28M | 87.45M | 145.29M | 161.06M | 128.55M | 193.94M | 224.03M | 252.1M | 202.3M | 157.6M | 129.8M |
| EBIT | 975.47M | 973.92M | 933.19M | 948.05M | 984.87M | 1.17B | 833.42M | 629.85M | 614.93M | 562.18M | 561.8M | 543.25M | 490.94M | 376.78M | 380.75M | 359.42M | 347.65M | 328.35M | 297.57M | 329.25M | 255.36M | 218.21M | 156.29M | 224.22M | 15.84M | -380.73M | -270.07M | 502.2M | 633.35M | 620.8M | 541.2M |
| Net Interest Income | -257.89M | -255.37M | -257.77M | -239.45M | -172.11M | -150.61M | -163.06M | -185.84M | -181.56M | -169.13M | -162.09M | -172.9M | -177.57M | -142.36M | -135.07M | -133.78M | -128.2M | -44.58M | -134.27M | 0 | -137.38M | 16.35B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 84.4M | 0 | 0 | 31.17M | 16.71B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 257.89M | 255.37M | 257.77M | 239.45M | 172.11M | 150.61M | 163.06M | 185.84M | 181.56M | 169.13M | 162.09M | 172.9M | 177.57M | 142.36M | 135.07M | 133.78M | 128.2M | 128.98M | 134.27M | 0 | 168.55M | 358.46M | 40.87M | 44.65M | 510.36M | 1.44B | 2.17B | 897.5M | 89.9M | 0 | 116.2M |
| Other Income/Expense | -253.77M | -244.13M | -252.26M | -235.65M | -171.69M | -145.18M | -180.71M | -202.18M | -188.93M | -170.88M | -186.66M | -179.95M | -204.95M | -141.94M | -155.2M | -138.06M | -134.59M | -124.52M | -129.51M | 40.82M | -93.64M | -100.8M | -118.85M | -113M | -135.69M | -214.48M | -246.91M | -568.9M | -133.39M | -40.8M | -127.3M |
| Pretax Income | 717.63M | 729.78M | 675.42M | 708.61M | 755.63M | 1.05B | 662.06M | 464.43M | 441.73M | 400.26M | 326.66M | 370.35M | 402.6M | 245.72M | 245.68M | 225.64M | 219.46M | 199.37M | 163.16M | 386.99M | 97.45M | 90.81M | 110.8M | 114.33M | -140.96M | -535.43M | -516.98M | -37.7M | 518.5M | 580M | 413.9M |
| Pretax Margin % | 16.57% | 16.94% | 16.13% | 17.28% | 18.39% | 25.23% | 18.85% | 14.38% | 13.85% | 12.93% | 10.78% | 12.4% | 13.45% | 9.61% | 10.19% | 9.74% | 10.02% | 9.71% | 7.57% | 16.93% | 5.58% | 5.29% | 5.96% | 4.88% | -6.2% | -21.33% | -20.16% | -1.13% | 18.03% | 23.5% | 18.04% |
| Income Tax | 91.18M | 186.94M | 156.66M | 170.94M | 189.59M | 242.25M | 145.92M | 94.66M | -5.83M | -146.59M | 149.35M | 135.03M | 225.98M | 96.61M | 91.55M | 79.4M | 92.46M | 76.28M | 65.72M | 143.67M | 44.84M | 34.12M | -6.21M | 29.25M | -39.74M | 61.2M | -91.45M | -3.4M | 176.4M | 205.4M | 148.6M |
| Effective Tax Rate % | 12.71% | 25.62% | 23.2% | 24.12% | 25.09% | 23.17% | 22.04% | 20.38% | -1.32% | -36.62% | 45.72% | 36.46% | 56.13% | 39.32% | 37.26% | 35.19% | 42.13% | 38.26% | 40.28% | 37.13% | 46.02% | 37.58% | -5.61% | 25.58% | 28.19% | -11.43% | 17.69% | 9.02% | 34.02% | 35.41% | 35.9% |
| Net Income | 626.27M | 542.61M | 518.65M | 537.32M | 565.34M | 802.94M | 515.91M | 369.6M | 447.21M | 546.66M | 177.04M | 233.77M | 172.47M | 143.85M | 152.55M | 144.9M | 126.42M | 123.1M | 97.08M | 247.73M | 56.51M | -126.73M | 113.7M | 85.08M | -231.88M | -597.8M | -1.34B | -32.4M | 342.1M | 333.8M | 265.3M |
| Net Margin % | 14.46% | 12.59% | 12.39% | 13.11% | 13.76% | 19.38% | 14.69% | 11.44% | 14.02% | 17.66% | 5.84% | 7.83% | 5.76% | 5.63% | 6.33% | 6.26% | 5.77% | 5.99% | 4.5% | 10.84% | 3.23% | -7.39% | 6.12% | 3.63% | -10.2% | -23.81% | -52.37% | -0.98% | 11.9% | 13.52% | 11.56% |
| Net Income Growth % | 18.11% | 4.62% | -3.47% | -4.96% | -29.59% | 55.64% | 39.59% | -17.35% | -18.19% | 208.78% | -24.27% | 35.54% | 19.9% | -5.7% | 5.27% | 14.62% | 2.7% | 26.8% | -60.81% | 338.37% | 144.59% | -211.46% | 33.63% | 136.69% | 61.21% | 55.5% | -4045.84% | -109.47% | 2.49% | 25.82% | 44.5% |
| Net Income (Continuing) | 626.46M | 542.85M | 518.75M | 537.66M | 566.03M | 803.25M | 516.14M | 369.77M | 447.56M | 546.85M | 177.31M | 235.32M | 176.62M | 152.18M | 155.17M | 146.23M | 127M | 123.09M | 97.58M | 243.32M | 52.6M | 55.09M | 117.42M | 82.55M | -82.16M | -617.54M | -425.52M | -51.22M | 331.56M | 374.6M | 265.3M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.19M | 406K | 0 | 0 | 0 | 0 | 0 | 4.41M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 538K | 570K | 664K | 209K | 232K | 4K | -127K | -58K | -88K | 47K | 2.53M | 4.71M | 8.65M | 10.15M | 19.8M | 20.1M | 492K | 12K | 0 | 3.3B | 3.44B | 2.71B | 2.8B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 172.5M |
| EPS (Diluted) | 4.48 | 3.80 | 3.53 | 3.53 | 3.53 | 4.72 | 2.88 | 1.99 | 2.39 | 2.84 | 0.90 | 1.14 | 0.81 | 0.67 | 0.70 | 0.61 | 0.50 | 0.49 | 0.37 | 0.85 | 0.19 | -0.41 | 0.34 | 0.28 | -0.80 | -2.09 | -4.75 | -0.12 | 1.31 | 1.31 | 1.08 |
| EPS Growth % | 21.98% | 7.65% | 0% | 0% | -25.21% | 63.89% | 44.72% | -16.74% | -15.85% | 215.56% | -21.05% | 40.74% | 20.9% | -4.29% | 14.75% | 22% | 2.04% | 32.43% | -56.47% | 347.37% | 146.34% | -220.59% | 21.43% | 135% | 61.72% | 56% | -3858.33% | -109.16% | 0% | 21.3% | 25.58% |
| EPS (Basic) | - | 3.83 | 3.57 | 3.57 | 3.58 | 4.79 | 2.92 | 2.03 | 2.45 | 2.91 | 0.92 | 1.17 | 0.82 | 0.68 | 0.71 | 0.62 | 0.51 | 0.49 | 0.38 | 0.87 | 0.19 | -0.42 | 0.35 | 0.28 | -0.80 | -2.09 | -4.75 | -0.12 | 1.34 | 1.36 | 1.13 |
| Diluted Shares Outstanding | 139.93M | 142.69M | 146.78M | 152.35M | 160.13M | 170.11M | 178.99M | 185.52M | 186.97M | 192.25M | 196.04M | 204.45M | 214.2M | 216.01M | 219.07M | 236.67M | 250.6M | 252.48M | 260.45M | 290.44M | 297.37M | 306.75M | 325.47M | 303.86M | 290.61M | 285.98M | 282.79M | 273.79M | 262.52M | 254.81M | 245.65M |
| Basic Shares Outstanding | 139.03M | 141.6M | 145.27M | 150.56M | 157.71M | 167.54M | 176.71M | 182.25M | 182.45M | 187.63M | 193.09M | 200.36M | 210.74M | 211.81M | 215.71M | 234.24M | 248.87M | 251.71M | 257.48M | 284.97M | 292.86M | 302.21M | 316.17M | 303.86M | 290.61M | 285.98M | 282.79M | 272.28M | 256.27M | 245.44M | 234.78M |
| Dividend Payout Ratio | - | 33.83% | 33.6% | 31.26% | 28.31% | 18.3% | 26.63% | 35.55% | 27.69% | 19.89% | 55.59% | 37.46% | 41.47% | 39.78% | 39.53% | 30.91% | 31.64% | 32.65% | 42.75% | 13.98% | 52.08% | - | - | - | - | - | - | - | 25.83% | 20.94% | 20.84% |
Mortality rate normalization volatility
According to recent financial disclosures, SCI has maintained a consistent revenue growth trajectory, with quarterly year-over-year growth rates hovering between 1.2% and 4.4% over the last ten quarters, reflecting the inherent stability of the deathcare industry despite post-pandemic volume normalization across its core service segments.
The company's revenue profile suggests a high degree of predictability, largely insulated from broader economic cycles. However, the modest growth figures indicate that SCI is currently reliant on pricing power and pre-need contract realization rather than significant volume expansion, which warrants monitoring as mortality rates stabilize.
As reported in quarterly income statements, SCI's gross margins have fluctuated within a narrow band of 24.9% to 28.0%, suggesting that inflationary pressures on labor and merchandise costs are effectively capping the company's ability to expand profitability despite its dominant market position in North America.
The persistent compression of gross margins indicates that the company faces challenges in fully passing through rising operational costs to consumers. Investors should consider whether the shift toward lower-margin cremation services is structurally altering the long-term profitability profile of the funeral segment.
Based on the provided income statement data, SCI demonstrates consistent operating leverage, with operating margins remaining relatively stable between 20.9% and 25.0%, indicating that management has successfully maintained expense discipline despite the high fixed-cost nature of managing extensive cemetery acreage and funeral home infrastructure.
The ability to keep operating margins within this range suggests that centralized procurement and back-office efficiencies are effectively offsetting the overhead associated with its sprawling physical footprint. This operational stability appears to be a key pillar of the company's ability to generate consistent earnings.
Analysis of the reported figures reveals significant quarterly volatility in net income, with EPS ranging from $0.81 to $1.62, which appears largely driven by non-operating items and tax fluctuations rather than core operational shifts, as evidenced by the relatively stable operating income performance over the same period.
The discrepancy between operating income and net income suggests that investors should focus on the former to gauge true business health. The impact of stock-based compensation remains relatively contained, but the variability in bottom-line results warrants further investigation into the non-operating drivers of these quarterly swings.
While SCI's scale is often cited as a competitive moat, the company's reliance on continuous acquisition-led growth may face headwinds if interest rates remain elevated, as the cost of capital could potentially constrain the company's ability to execute its roll-up strategy in a fragmented market.
Short-term observers may focus on the potential for margin dilution if the company overpays for assets in an increasingly competitive bidding environment. Furthermore, the reliance on pre-need trust fund performance introduces a layer of market risk that could impact future revenue recognition and cash flow stability.
Quick answers to the most common questions about buying SCI stock.
For fiscal year 2025, Service Corporation International (SCI) reported total revenue of $4.31B. This represents a 87.8% increase compared to $2.29B in 1996.
Service Corporation International (SCI) is profitable, generating $542.6M in net income for the fiscal year ending 2025 with a net profit margin of 12.6%.
Service Corporation International (SCI) reported an operating income of $973.9M, resulting in an operating profit margin of 22.6%. This margin reflects the operational efficiency of the business before interest and taxes.
Service Corporation International (SCI) generated $1.14B in gross profit for the year, representing a gross profit margin of 26.5%. This demonstrates the company's core pricing power and production efficiency.