Financials Service Corporation International

Equities

SCI

US8175651046

Personal Services

Market Closed - Nyse Other stock markets 21:00:01 03/05/2024 BST			5-day change	1st Jan Change
67.59 ^USD	-2.89%		-5.78%	-1.26%

05-03	UBS Adjusts Price Target on Service Corp International to $83 From $79, Maintains Buy Rating	MT
05-03	Service Corp International Insider Sold Shares Worth $603,190, According to a Recent SEC Filing	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	8,413	8,482	11,707	10,634	10,113	9,842	-	-
Enterprise Value (EV) ¹	11,811	11,993	15,405	14,784	14,604	14,361	13,858	14,188
P/E ratio	23.1 x	17 x	15 x	19.6 x	19.4 x	18.5 x	17.1 x	15.7 x
Yield	1.56%	1.59%	1.24%	1.48%	-	1.78%	1.83%	1.87%
Capitalization / Revenue	2.6 x	2.42 x	2.83 x	2.59 x	2.47 x	2.36 x	2.3 x	2.2 x
EV / Revenue	3.66 x	3.42 x	3.72 x	3.6 x	3.56 x	3.45 x	3.23 x	3.17 x
EV / EBITDA	13.4 x	11 x	10.7 x	11.6 x	11.7 x	11.3 x	10.3 x	10.3 x
EV / FCF	30.4 x	20.6 x	25 x	32.4 x	28.8 x	26.4 x	25.8 x	-
FCF Yield	3.29%	4.85%	4%	3.08%	3.47%	3.79%	3.88%	-
Price to Book	4.57 x	4.78 x	6.06 x	6.36 x	6.5 x	5.98 x	5.41 x	4.8 x
Nbr of stocks (in thousands)	182,783	172,744	164,912	153,806	147,745	145,612	-	-
Reference price ²	46.03	49.10	70.99	69.14	68.45	67.59	67.59	67.59
Announcement Date	17/02/20	15/02/21	14/02/22	14/02/23	12/02/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	3,231	3,512	4,143	4,109	4,100	4,164	4,288	4,471
EBITDA ¹	880.7	1,094	1,440	1,272	1,246	1,270	1,340	1,382
EBIT ¹	633.7	835.8	1,162	984.7	934.4	958	1,010	1,049
Operating Margin	19.61%	23.8%	28.06%	23.97%	22.79%	23.01%	23.55%	23.47%
Earnings before Tax (EBT) ¹	464.4	662.1	1,046	755.6	708.6	709.2	761.3	781.9
Net income ¹	369.6	515.9	802.9	565.3	537.3	537.8	574.4	590.1
Net margin	11.44%	14.69%	19.38%	13.76%	13.11%	12.92%	13.39%	13.2%
EPS ²	1.990	2.880	4.720	3.530	3.530	3.663	3.950	4.300
Free Cash Flow ¹	388.8	582.1	616.9	456	507.2	545	537.6	-
FCF margin	12.03%	16.58%	14.89%	11.1%	12.37%	13.09%	12.54%	-
FCF Conversion (EBITDA)	44.15%	53.22%	42.85%	35.84%	40.72%	42.92%	40.12%	-
FCF Conversion (Net income)	105.2%	112.84%	76.84%	80.66%	94.39%	101.34%	93.6%	-
Dividend per Share ²	0.7200	0.7800	0.8800	1.020	-	1.201	1.234	1.264
Announcement Date	17/02/20	15/02/21	14/02/22	14/02/23	12/02/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	1,043	1,112	990.9	977.7	1,028	1,029	1,013	1,002	1,056	1,045	1,029	1,017	1,082	1,077	1,075
EBITDA ¹	356.3	407.6	291.6	259.6	311	317.2	305.5	312.7	326.5	309.1	315.1	304	353.6	322.4	324.1
EBIT ¹	288.5	335.2	220.9	189	236.8	246	226.5	235.6	242.5	232.9	234.2	224.2	270.8	242.1	242.7
Operating Margin	27.66%	30.13%	22.3%	19.34%	23.04%	23.91%	22.35%	23.51%	22.97%	22.28%	22.77%	22.05%	25.02%	22.49%	22.57%
Earnings before Tax (EBT) ¹	261.2	296.8	178.3	158.4	122.1	191.9	175.3	161.6	179.8	170.3	166.6	163.6	204.8	179.9	171.1
Net income ¹	206.5	219.5	132.7	120.8	92.3	144.8	132.2	122	138.4	131.3	127.5	125.1	155.8	136.5	129.1
Net margin	19.79%	19.73%	13.39%	12.36%	8.98%	14.07%	13.04%	12.17%	13.11%	12.56%	12.4%	12.31%	14.39%	12.68%	12.01%
EPS ²	1.240	1.340	0.8200	0.7700	0.5900	0.9300	0.8600	0.8100	0.9300	0.8900	0.8667	0.8500	1.077	0.9450	0.9100
Dividend per Share ²	0.2300	0.2500	0.2500	0.2500	0.2700	0.2700	0.2700	-	-	-	0.2960	0.2960	0.2960	0.3060	0.3060
Announcement Date	14/02/22	03/05/22	02/08/22	01/11/22	14/02/23	01/05/23	01/08/23	01/11/23	12/02/24	01/05/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	3,397	3,512	3,698	4,150	4,491	4,519	4,016	4,346
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	3.857 x	3.21 x	2.568 x	3.261 x	3.605 x	3.559 x	2.997 x	3.145 x
Free Cash Flow ¹	389	582	617	456	507	545	538	-
ROE (net income / shareholders' equity)	20.4%	28.9%	42.5%	33.9%	33.4%	32.9%	33.6%	33.4%
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-	-
Book Value Per Share ²	10.10	10.30	11.70	10.90	10.50	11.30	12.50	14.10
Cash Flow per Share ²	3.390	4.490	5.410	5.160	5.700	5.960	5.420	-
Capex ¹	240	222	304	370	362	352	362	356
Capex / Sales	7.43%	6.33%	7.33%	9%	8.82%	8.46%	8.44%	7.96%
Announcement Date	17/02/20	15/02/21	14/02/22	14/02/23	12/02/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Service Corporation International

Trading Rating

Investor Rating

ESG Refinitiv

B-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

67.59 USD

Average target price

78.17 USD

Spread / Average Target

+15.65%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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