Strategic Management
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ServiceCorporationInternationalOneStop.pdf
ONESTOP REPORT
Service Corporation International 17 OCTOBER 2019
Table of Contents
COMPANY DESCRIPTION
COMPANY SUMMARY
PRODUCTS AND OPERATIONS
CORPORATE OVERVIEW
SIGNALS
SWOT
NEWS
TRIGGERS
COMPETITORS
CLOSEST INDUSTRY PEERS
ANALYST REPORTS
TECHNOLOGIES IN USE
FINANCIAL HEALTH
BUSINESS SEGMENTS
ANNUAL RATIOS
RATIO COMPARISONS
STOCK REPORT
ANNUAL INCOME (STANDARDIZED)
ANNUAL BALANCE (STANDARDIZED)
ANNUAL CASH FLOW (STANDARDIZED)
Company Description Service Corporation International (SCI) is the largest funeral and cemetery services company in North America, operating about 1,500 funeral homes and some 480 cemeteries in 45 US states, eight Canadian provinces, and Puerto Rico. The company's primary services include embalming, burial, and cremation. As part of its business, SCI also sells traditional funeral necessities, including prearranged funeral services, caskets, burial vaults, cremation receptacles, flowers, and burial garments. SCI operates under the Dignity Memorial and other brands. The US is the company's largest market.
Operations
SCI is engaged in funeral and cemetery operations. Funerals account for about 60% SCI's sales, with cemeteries contributing the rest. SCI sells cemetery property as well as funeral and cemetery merchandise and services, including on a pre-need basis. SCI's services account for about 50% of revenue, its merchandise, about 45%, and its "other" category the remaining 5%.
The company operates primarily under the Dignity Memorial banner. Other brands include Dignity Planning, National Cremation Society as well as Advantage Funeral and Cremation Services, Funeraria del Angel, Making Everlasting Memories, Neptune Society, and Trident Society.
Geographic Reach
The US is SCI's largest market, accounting for more than 95% of sales. Texas, California, and Florida, among the country's more populous states, together account for more than a third of the firm's 1,500 funeral homes and 480 cemeteries. Canada, with 160 funeral homes and 10 cemeteries, accounts for some 5% of revenue.
Sales and Marketing
SCI uses a combination of targeted direct mail, select media advertising, seminars, and the internet to generate pre-need sales leads.
Financial Performance
Over the past five years, SCI's revenue has hovered around the $3 billion mark, increasing only 6% between 2014 and 2018. The mild growth has been fueled, in part, by inorganic revenue from acquisitions of funeral homes and cemeteries it made during the period.
The company's 2018 revenue rose 3% to $3.1 billion from 2017 results. Newly recorded revenue from recent acquisitions fed the modest increase, as did a small increase in comparable sales in its funeral operations business.
Net income in 2018 fell 18% to $447.2 million from the previous year as SCI recorded a lower tax benefit than it received the previous year. This was partially o�set by double-digit growth in the company's pre-need cemetery sales, which drove profits higher.
Cash at the end of 2018 sat at $207.5 million, a decrease of $133 million from the prior year. Cash from operations contributed $615.8 million to the co�ers, while investing activities used $414.6 million, primarily capital expenditures and acquisitions. Financing activities used $329.1 million, mostly for stock buybacks and early repayment of debt.
Strategy
A 16% share makes SCI the biggest provider of funeral and cemetery services in a fragmented market in the US. It plans to maintain that status – and get bigger – as the aging cohort of baby boomers reaches the need for funeral services.
The company intends to use its size and nationwide footprint to achieve economies of scale and standardize some of its operations. The company has hired more sales people (it has about 4,300) and implemented tools like Salesforce.com customer relationship management so�ware to help them increase e�ectiveness.
The growing preference for lower-cost cremation in North America has spurred SCI to focus on products and services, including online memorials, themed ceremonies, and other initiatives to boost revenue from cremations. Due to their lower cost, however, cremations bring in less revenue and profit for the company than conventional funeral services.
Acquisitions have also fueled growth. In 2017 and 2018 SCI acquired funeral homes in six states (Ohio, Florida, Washington, Indiana, New York, and Iowa) and Vancouver, Canada as well as several cemeteries in Wisconsin. Additionally, the company spends some $20 million to $25 million each year on new funeral home construction, an acceleration of the historical pace of about $10 million a year.
Company Background
In the early 1950s, when Robert Waltrip was just 20, he inherited Houston's Heights Funeral Home, which his father and aunt had founded in 1926. Waltrip acquired several other funeral homes, modeling his operations on other popular service chains, such as Holiday Inn and McDonald's. In 1962 he incorporated Service Corporation International (SCI) and began expanding across the country.
SCI went public in 1969, and by 1975 it was the largest provider of funeral services in the US. The company has maintained its dominant position over the ensuing decades by acquiring deathcare businesses across the US and in other North American markets.
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Company Summary
Service Corporation International 1929 Allen Pkwy Houston, Texas, 77019-2500 United States Tel: +1-713-522-5141 Marketability: Has Not Opted Out of Direct Marketing http://www.sci.jobs
Employees: 2.1k (This Site) 24k (All Sites)
Company Type: Public Parent, Headquarters
Corporate Family: 2102 Companies
Traded: SCI (NYSE)
D-U-N-S® Number: 04-575-6715
LEI Number: 549300RKVM2ME20JHZ15
Fiscal Year End: 31-Dec-2018
Reporting Currency: USD
Annual Sales: 3.1B
Total Assets: 13B
Market Value: 8.4B
Fortune 1000 Rank: 730
Business Description
Service Corporation International (SCI) is the largest funeral and cemetery services company in North America, operating about 1,500 funeral homes and some 480 cemeteries in 45 US states, eight Canadian provinces, and Puerto Rico. The company's primary services include embalming, burial, and cremation. As part of its business, SCI also sells traditional funeral necessities, including prearranged funeral services, caskets, burial vaults, cremation receptacles, flowers, and burial garments. SCI operates under the Dignity Memorial and other brands. The US is the company's largest market.
Source: D&B
Industry
D&B Hoovers: Death Care Services US 8-Digit SIC: 72619903 - Funeral home
Prescreen Score: LOW RISK
Tradestyle: SCI
D-U-N-S® Number: 045756715
EIN: 741488375
State Of Incorporation:
Texas
Year Founded: 1962
Sales 1-Year Growth:
3.07%
Employees 1-Year Growth:
2.79%
Plant/Facility Size (sq. �.):
35,000
Auditor: PricewaterhouseCoopers LLP
Latitude: 29.760849
Longitude: -95.387238
Corporate Highlights
Key Contacts
Thomas L. Ryan Chairman of the Board, President, Chief Executive O�icer
Jerry Pullins President and Chief Operating O�icer
Gregory T. Sangalis Senior Vice President, General Counsel, Secretary
Eric D. Tanzberger Chief Financial O�icer, Senior Vice President
Sumner James Waring Chief Operating O�icer, Senior Vice President - Operations
News
4-Traders
Service Corporation International : Announces Schedule For Its Third Quarter 2019 Earnings Release and Conference Call
Oct 16, 2019
Tech Know Bits
Franchise Group (NASDAQ:FRGA) vs. Service Co. International (NASDAQ:SCI) Financial Survey
Oct 16, 2019
Tech Know Bits
HighTower Advisors LLC Reduces Holdings in Service Co. International (NYSE:SCI)
Oct 13, 2019
Tech Know Bits
Cresset Asset Management LLC Has $200,000 Holdings in Service Co. International (NYSE:SCI)
Oct 12, 2019
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As of 30-Jun-2019Financial Summary
Key Ratios Company Industry
Net Profit Margin (TTM) % 13.30 8.15
Return on Assets (TTM) % 3.16 4.05
Return on Equity (TTM) % 25.69 31.87
Current Ratio 0.60 1.28
Quick Ratio 0.51 1.01
Sales 5 Year Growth 4.58
Debt to Equity 2.20 3.00
As of 4-Oct-2019 (Financials in USD)Stock Snapshot
Traded: New York Stock Exchange: SCI
Recent Price 46.60
52 Week High 48.70
52 Week Low 37.52
Avg. Volume (mil) 0.77
Market Value (mil) 8,498.01
EPS 2.23
Price/Sales 2.69
Dividend Rate 0.72
Price/Earnings 20.90
Price/Book 4.87
Beta 0.91
Products & Operations
2016 Sales
$ mil. % of total
US 2,848.9 94
Canada 182.2 6
Total 3,031.1 100
2018 Sales
$ mil. % of total
Property and Merchandise 1,584.2 50
Services 1,374.4 43
Other 231.6 7
Total 3,190.2 100
2018 Locations
No. of locations
United States:
Funeral 1,323
Cemetery 471
Canada:
Funeral 158
Cemetery 10
Total 1,962
2018 Sales
$ mil. % of total
Funeral 1,898 59
Cemetery 1,292.2 41
Total 3,190.2 100
Selected Products
Burial garments Burial vaults Caskets Co�ins
Cremation receptacles Flowers Lawn crypts Mausoleum spaces Stone and bronze memorials
Selected Services
Bereavement travel Cremation Development loans Floral arrangements Grief counseling Grounds management and maintenance Interment Perpetual care Prearranged funeral services Transportation
Selected Brands:
Dignity Memorial Dignity Planning National Cremation Society Advantage Funeraria Del Angel Making Everlasting Memories Neptune Society/Trident Society
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Industry Codes
Corporate Overview
Location 1929 Allen Pkwy Houston, TX, 77019-2500 Harris County United States
Tel: 713-522-5141
Marketability: Has Not Opted Out of Direct Marketing
www.sci.jobs
Quote Symbol - Exchange SCI - New York Stock Exchange
Sales USD(mil): 3,190.2 Assets USD(mil): 13,079.1 Employees: 24,082 Fiscal Year End: 31-Dec-2018 KeyIDSM: 25799 Industry: Personal Services
Incorporation Date: 1962 Company Type: Public Parent Quoted Status: Quoted Chairman of the Board, President, Chief Executive O�icer:
Thomas L. Ryan
Key Corporate Relationships
Auditor: PricewaterhouseCoopers LLP
Bank: Jpmorgan Chase Bank N.A., Wells Fargo Financial Leasing Inc, Greatamerica Financial Services Corp, Huntington Technology Finance Inc, Konica Minolta Premier Finance
US SIC 1987:
7261 - Funeral Service and Crematories (Primary)
US 8-Digit SIC:
72619903 - Funeral home (Primary)
NAICS 2017:
812210 - Funeral Homes and Funeral Services (Primary)
UK SIC 2003:
9303 - Funeral and related activities (Primary)
ANZSIC 2006:
9520 - Funeral, Crematorium and Cemetery Services (Primary)
ISIC Rev 4:
9603 - Funeral and related activities (Primary)
NACE 2002:
9603 - Funeral and related activities (Primary)
UK SIC 2007:
9603 - Funeral and related activities (Primary)
Business Description
Service Corporation International (SCI) is the largest funeral and cemetery services company in North America, operating about 1,500 funeral homes and some 480 cemeteries in 45 US states, eight Canadian provinces, and Puerto Rico. The company's primary services include embalming, burial, and cremation. As part of its business, SCI also sells traditional funeral necessities, including prearranged funeral services,
caskets, burial vaults, cremation receptacles, flowers, and burial garments. SCI operates under the Dignity Memorial and other brands. The US is the company's largest market.
Source: D&B
More Business Descriptions
Service Corporation International (SCI) is a provider of deathcare products and services. Its funeral and cremation o�erings include burial caskets and related accessories, urns and other cremation receptacles, casket and cremation memorialization products, and flowers; and property interment rights including developed lots, mausoleum spaces, niches, lawn crypts, and other cremation memorialization and interment options. The company also o�ers professional services relating to funerals including arranging and directing services, providing funeral facilities and motor vehicles, preparation, embalming, visitations, removal, cremations, memorialization, and catering; and memorial markers and bases, flowers and floral placement, outer burial containers, other ancillary merchandise, graveside services, merchandise installation, and burial openings and closings. Its major brands include Dignity Memorial, National Cremation Society, Dignity Planning, Funeraria del Angel, Advantage Funeral and Cremation Services, Trident Society, Neptune Society and Making Everlasting Memories. It operates funeral service locations and cemeteries across the US and Canada. SCI is headquartered in Houston, Texas, the US.The company reported revenues of (US Dollars) US$3,095 million for the fiscal year ended December 2017 (FY2017), an increase of 2.1% over FY2016. In FY2017, the company’s operating margin was 18.4%, compared to an operating margin of 16.1% in FY2016. In FY2017, the company recorded a net margin of 17.7%, compared to a net margin of 5.8% in FY2016.The company reported revenues of US$796.1 million for the second quarter ended June 2018, an increase of 0.2% over the previous quarter.
Source: Global Data
Service Corporation International (SCI) is a provider of deathcare products and services. Its major brands include Dignity Memorial, National Cremation Society, Dignity Planning, Funeraria del Angel, Advantage Funeral and Cremation Services, Trident Society, Neptune Society and Making Everlasting Memories. As of December 2017, the company operated 1,488 funeral service locations and 473 cemeteries across 45 states in the US, 8 Canadian provinces, the District of Columbia, and Puerto Rico. The company operates through two segments, Funeral and Cemetery. In FY2017, the company’s capital expenditure stood at US$214.5 million, which grew 10.9% YoY.
Source: Global Data
Financial Data
Financials in: USD(mil)
Revenue: 3,190.2
Assets: 13,079.1
Date of Financial Data: 31-Dec-2018
1 Year Growth
3.1%
-1.3%
Market Data
Quote Symbol: SCI
Exchange: New York Stock Exchange
Currency: USD
Stock Price: 46.6
Stock Price Date: 10-04-2019
Market Value (mil): 8,498.0
Additional Information
Fortune 1000 Rank: 730
© 2019 Dun & Bradstreet, Inc. All rights reserved.
© 2019 Morningstar. All Rights Reserved.
© 1983-2019 Reuters Research Inc. All Rights Reserved.
© 2019 GlobalData. All Rights Reserved.
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Signals Report
100 Does Business in United States The value of this signal is set to 100 when a company does business in the United States, zero otherwise. Determined for all possible companies in the D&B Hoovers database. Updated at least quarterly.
98 Company Oversight Executive Change Activity The value is a percentile ranking of a company's level of news, filing, and PR activity regarding a Company Oversight executive change across all companies in the D&B Hoovers Database where activity was detected. Measures activity detected over the past 90 days.
94 All Executive Change Activity The value is a percentile ranking of a company's level of news, filing, and PR activity regarding All executive changes across all companies in the D&B Hoovers Database where activity was detected. Measures activity detected over the past 90 days.
94 Recent News Presence Signals the level of a company's business news presence relative to other companies with news presence over the last 90 days.
92 Divesting Activity A signal value of 1-100 reflects the degree to which a company is referenced in press releases, business press articles, or SEC filings that discuss the divestiture of businesses or assets. 0 indicates that no activity was detected. Measures activity detected over the past 90 days.
67 Contract Awards A signal value of 1-100 reflects the degree to which a company is referenced in press releases, business press articles, or SEC filings that discuss the awarding of contracts. 0 indicates that no activity was detected. Measures activity detected over the past 90 days.
61 PeopleSo� Signals the likelihood that a company utilizes PeopleSo� so�ware or technology based on information found in news stories, the company's website, and other sources.
32 Salesforce.com Signals the likelihood that a company utilizes Salesforce.com so�ware or technology based on information found in news stories, the company's website, and other sources.
30 Social Media Presence Signals the extent to which a company promotes Social Media channels for communications on its corporate web site for all companies in the D&B Hoovers database where a corporate URL is available.
21 Opening New Facilities Scores a company's new facility opening activity based on press releases, business press articles, or SEC filings. The value is a percentile ranking of a company's level of news, filing, and PR activity regarding Opening New Facilities across all companies in the D&B Hoovers Database where activity was detected. Measures activity detected over the past 90 days.
21 Venture Financing Activity Scores a company's venture financing activity based on press releases, business press articles, or SEC filings. The value is a percentile ranking within all companies in the D&B Hoovers database for the same activity. 0 means no activity was detected. All companies in the D&B Hoovers Database where any activity was detected. Measures activity detected over the past 90 days.
18 SAP ERP Signals the likelihood that a company utilizes SAP ERP so�ware or technology based on information found in news stories, the company's website, and other sources.
17 Going Public Activity Scores a company's initial public o�ering activity based on press releases, business press articles, or SEC filings. The value is a percentile ranking within all companies in the D&B Hoovers database for the same activity. 0 means no activity was detected. All companies in the D&B Hoovers Database where the same activity was detected. Measures activity detected over the past 90 days.
12 Services are Cloud Hosted Signals the likelihood that a company provides cloud-hosted products and services based on information found in news stories, the company's website, and other sources.
1 High Bandwidth Signals the likelihood that a company requires high communication bandwidth based on its aggregate ranking for other relevant signals.
1 Technology Adopter Signals the likelihood that a company is a strong adopter of technology solutions based on evidence found in news stories, the company website, and other information sources.
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Overview
Strengths
SWOT Analysis
Positive Negative
Internal Organizational Attributes
Strengths
Business Performance: Cemetery Brand Portfolio Profitable Operations
Weaknesses
Working Capital Deficit
External Environmental Attributes
Opportunities
Increasing Old Age Population Growth Initiative
Threats
Cemetery Burial Practice Claims Unfavorable Publicity Regulations
Service Corporation International (SCI) provides funeral, cremation, and cemetery services. Improved performance of Cemetery segment, brand portfolio, and profitable operations are its major strengths, even as working capital deficit remains an are of concern. Unfavorable publicity, cemetery burial practice claims and regulations may impact the company's performance. However, aging population across the world, and construction of new funeral home and cemetery are likely to present growth opportunities for the company.
Business Performance: Cemetery
The improved performance of Cemetery segment strengthened the company’s operations. The segment is a major contributor to the company’s revenue. The segment o�ers funeral merchandise, including outer burial containers, burial caskets and related accessories, flowers, urns and other cremation receptacles, casket and cremation memorialization products, online and video tributes, travel protection, stationery products, and other ancillary merchandise that is sold at funeral service locations. In FY2017, it reported revenue of US$1,226.9 million, which accounted for 39.6% of the company’s total revenue and increased by 5.6% year on year. Revenue grew as a result of properties acquired in FY2017.
Brand Portfolio
Well-diversified brand portfolio helps SCI to enhance its brand value and top-line performance and distinguish itself as a benchmark for excellence. SCI is a provider of funeral, cremation, and cemetery services. The company o�ers its products under various brands including Dignity Memorial, National Cremation Society, Dignity Planning, Funeraria del Angel, Advantage Funeral and Cremation Services, Trident Society, Neptune Society and Making Everlasting Memories.
Profitable Operations
Profitable Operations helps the company to enhance investor confidence and improve its growth prospects. SCI reported operating income
Weaknesses
Opportunities
Threat
of US$568.9 million in FY2017 compared to an operating income of US$489.4 million in FY2016. This was primarily due to 2.1% increase in total revenue. The company’s operating margin was 18.4% in FY2017, which was higher than 16.1% in FY2016. Its net income stood at US$546.7 million, compared to a net income of US$177 million. In FY2017, the company reported net profit margin of 17.7% as compared to 5.8% in FY2016. As a result, its operating costs as percentage of sales decreased to 81.6% in FY2017, from 83.9% in FY2016.
Working Capital Deficit
SCI reported working capital deficit during FY2017 which could adversely a�ect its short term business operations. In FY2017, the company reported working capital deficit of US$347.7 million compared to working capital deficit of US$183.5 million in FY2016. This was due to 54.1% increase in current liabilities to US$829 million in FY2017 as compared to US$538 million in FY2016. As a result, the company’s current ratio decreased to 0.58 in FY2017 from 0.66 in FY2016.
Increasing Old Age Population
The increasing population of people aged above 60, holds significant market potential for the company's product and service o�erings. The United Nations Population Division estimated that the number of people over the age of 60 throughout the world will triple to nearly 2 billion by 2050. Globally, the population of older persons is growing at a rate of 2.6% annually. According to a report released by World Economic Forum, the global share of people aged 60 past six decades increased from 8% to 10%. But in the next four decades, the figure is expected to rise to 22% of the total population. Which means this figure is expected to jump from 800 million to 2 billion people in 40 years. Such a situation could increase old age population can increase the cremation rates. According to cremation association of North America, the cremation rate in the US is projected to increase to 44.42% in 2015 and 55.65% in 2025. As the company provides a range of cremation caskets, the rising cremation rate per death could enhance the demand for its products.
Growth Initiative
SCI and the Archdiocese of New Orleans announced the construction of new funeral home and cemetery in March 2018. This initiative will help the company to drive its growth. It will serve Northshore and surrounding communities. This new facility is in Covington with more than 50 acres and will have 8,500 square foot funeral home, 300 mausoleum crypts, 800 cemetery plots, and 200 cremation niches. The cemetery and funeral home will be built and operated by SCI on land owned by the Archdiocese of New Orleans through a long-term lease agreement.
Cemetery Burial Practice Claims
SCI’s cemetery practices have evolved and improved over time. Most of its cemeteries have been operating for decades therefore the operations may have used practices and procedures that are outdated in comparison to today's standards. When cemetery disputes occur, the company may subject to litigation and liability for improper burial practices including burial practices of a di�erent era that are judged today in hindsight as being outdated, and alleged violations of practices and procedures by one or more associates. Since SCI acquired most of cemeteries, it may be subject to litigation and liability actions or events that occurred before acquired or managed the cemeteries. Claims or litigation based on cemetery burial practices could have a material adverse impact on the company’s financial condition, results of operations, and cash flows.
Unfavorable Publicity
The company o�ers funeral and cremation merchandise products, and cemetery services across the US and Canada. Since its operations are related to life events including emotional stress for client families. SCI’s business is dependent on customer trust and confidence.
Unfavorable publicity about business in relation to any specific location could a�ect the reputation and customers’ trust and confidence in product and service o�erings that may impact sales and financial results and price of its common stock.
Regulations
SCI is a provider of deathcare products and services. Its operations are subject to regulation, supervision, and licensing under various foreign, federal, state, and local laws, ordinances, and regulations including extensive regulations concerning trust funds, preneed funeral and cemetery merchandise and services, and various other aspects. The funeral industry is regulated at the federal level by the Federal Trade Commission which requires funeral service locations to take actions designed to protect consumers. The company’s facilities are also subject to health, safety, and environmental regulations. SCI’s pay practices including wage and hour overtime pay are subject to federal and state regulations. In addition, governments and agencies propose amendments and regulations or reinterpret existing regulations, which could increase costs and decrease cash flows. The change in the federal regulations could pose challenges to the company’s operations.
Copyright © 2019 GlobalData. All Rights Reserved. Published by Dun & Bradstreet, Inc., October, 2019
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News
4-Traders 16-Oct-2019 (138 words)
Service Corporation International : Announces Schedule For Its Third Quarter 2019 Earnings Release and Conference Call HOUSTON, Oct. 16, 2019 /PRNewswire/ -- Service Corporation International (NYSE: SCI) announced it expects to issue a... www.marketscreener.com
Tech Know Bits 16-Oct-2019 (247 words)
Franchise Group (NASDAQ:FRGA) vs. Service Co. International (NASDAQ:SCI) Financial Survey Franchise Group ( NASDAQ:FRGA ) and Service Co. International ( NYSE:SCI ) are both consumer cyclical companies, but which is the superior stock? We will compare the two companies based on the strength of their earnings, risk, institutional... www.techknowbits.com
Tech Know Bits 13-Oct-2019 (840 words)
HighTower Advisors LLC Reduces Holdings in Service Co. International (NYSE:SCI) HighTower Advisors LLC lowered its holdings in Service Co. International (NYSE:SCI) by 21.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,834 shares of the company’s stock a�er selling 2,447 shares during the period. HighTower Advisors LLC’s holdings in Service Co. International were worth... www.techknowbits.com
Tech Know Bits 12-Oct-2019 (907 words)
Cresset Asset Management LLC Has $200,000 Holdings in Service Co. International (NYSE:SCI) Cresset Asset Management LLC cut its holdings in shares of Service Co. International (NYSE:SCI) by 34.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,278 shares of the company’s stock a�er selling 2,242 shares during the quarter. Cresset Asset Management LLC’s holdings in Service Co. International were worth... www.techknowbits.com
Tech Know Bits 12-Oct-2019 (791 words)
9,435 Shares in Service Co. International (NYSE:SCI) Bought by Eaton Vance Management Eaton Vance Management bought a new position in shares of Service Co. International (NYSE:SCI) during the 2nd quarter, HoldingsChannel reports. The firm bought 9,435 shares of the company’s stock, valued at approximately $441,000. A number of other hedge funds have also made changes to their positions in SCI. Cullen Frost Bankers Inc. purchased a new position in Service Co. www.techknowbits.com
Tech Know Bits 12-Oct-2019 (797 words)
Amundi Pioneer Asset Management Inc. Has $13.29 Million Position in Service Co. International (NYSE:SCI) Amundi Pioneer Asset Management Inc. grew its position in shares of Service Co. International (NYSE:SCI) by 17.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 284,177 shares of the company’s stock a�er buying an additional 42,392 shares during the quarter. Amundi Pioneer Asset Management Inc. owned... www.techknowbits.com
Tech Know Bits 11-Oct-2019 (897 words)
Service Co. International (NYSE:SCI) Expected to Post Earnings of $0.38 Per Share Equities analysts expect that Service Co. International (NYSE:SCI) will post earnings per share of $0.38 for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Service Co. International’s earnings, with estimates ranging from $0.35 to $0.40. Service Co. International reported earnings of $0.35 per share during the same quarter last year, which... www.techknowbits.com
Tech Know Bits 11-Oct-2019 (590 words)
Tammy R. Moore Sells 12,698 Shares of Service Co. International (NYSE:SCI) Stock Service Co. International (NYSE:SCI) insider Tammy R. Moore sold 12,698 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $47.29, for a total transaction of $600,488.42. Following the completion of the transaction, the insider now owns 32,763 shares of the company’s stock, valued at $1,549,362.27. ? ... www.techknowbits.com
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Yahoo! News Australia 9-Oct-2019 (893 words)
Service Corporation International (NYSE:SCI) Has A Somewhat Strained Balance Sheet Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of permanent loss is the risk I worry about... and every practical investor I know worries about. So it seems the smart money knows that debt - which is usually involved in bankruptcies - is a very important factor, when you assess how risky a company is. We note that... www.au.finance.yahoo.com
Tech Know Bits 9-Oct-2019 (857 words)
Service Co. International (NYSE:SCI) Shares Sold by Asset Management One Co. Ltd. Asset Management One Co. Ltd. lessened its position in Service Co. International (NYSE:SCI) by 10.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 59,756 shares of the company’s stock a�er selling 6,700 shares during the quarter. Asset Management One Co. Ltd.’s holdings in... www.techknowbits.com
Triggers
NEWS: EARNINGS ANNOUNCEMENT (a day ago) 16-Oct-2019 15:32 GMT
Service Corporation International : Announces Schedule For Its Third Quarter 2019 Earnings Release and Conference Call Service Corporation International announced it expects to issue a press release with financial results for the third quarter 2019 on Wednesday, October 30, 2019, a�er the market closes. Companies in Event: Service Corporation International,
NEWS: EARNINGS RESULTS (8 days ago) 9-Oct-2019 09:19 GMT
Service Co. International (NYSE:SCI) Shares Sold by Asset Management One Co. Ltd. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.44 earnings per share. As a group, analysts predict that Service Co. International will post 1.95 earnings per share for the current fiscal year. Service Co. International declared that its board has approved a stock repurchase program on Wednesday, August 14th that permits the company to buyback $246.00 million in shares. This buyback authorization permits the company to purchase up to 2.8% of its stock through open Companies in Event: Service Corporation International, Related Contacts: Tammy Moore, Cullen Frost,
NEWS: STOCK TRADES (10 days ago) 7-Oct-2019 10:57 GMT
Service Co. International (NYSE:SCI) Shares Sold by Glen Harbor Capital Management LLC Glen Harbor Capital Management LLC lessened its position in Service Co. International (NYSE:SCI) by 39.6% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 26,544 shares of the company’s stock a�er selling 17,408 shares during the period. Glen Harbor Capital Management LLC’s holdings in Service Co. Companies in Event: Service Corporation International, Related Contacts: Tammy Moore, Eric Tanzberger, Cullen Frost,
NEWS: DIVESTITURES (2 months ago) 20-Aug-2019 12:27 GMT
Service Corporation International (NYSE:SCI) Insiders Have Been Selling We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. Unfortunately, there are also plenty of examples of share prices declining precipitously a�er insiders have sold shares. So shareholders might well want to know whether insiders have been buying or selling shares in Service Corporation International ( NYSE:SCI ). What Is Insider Selling? Most investors know that it is quite permissible for company leaders, such as directors of the board, to buy and sell stock in the company. However, Companies in Event: Service Corporation International,
NEWS: EARNINGS RESULTS (3 months ago) 2-Aug-2019 11:33 GMT
Service Co. International (NYSE:SCI) Reaches New 12-Month High on Analyst Upgrade The company reported $0.47 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.47. Service Co. International had a return on equity of 20.98% and a net margin of 12.88%. The firm had revenue of $812.57 million for the quarter, compared to analyst estimates of $811.01 million. During the same period last year, the company earned $0.44 EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, equities analysts expect that Service ... Companies in Event: Service Corporation International, Related Contacts: Gregory Sangalis, Cullen Frost,
NEWS: DIVESTITURES (3 months ago) 2-Aug-2019 11:33 GMT
Service Co. International (NYSE:SCI) Reaches New 12-Month High on Analyst Upgrade One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Service Co. International has a consensus rating of “Buy” and a consensus target price of $48.50. Get Service Co. International alerts: In other Service Co. International news, VP Gregory T. Sangalis sold 71,400 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $40.80, for a total value of $2,913,120.00. Following the sale, the vice president now directly owns 169,383 shares of the company’s Companies in Event: Service Corporation International, Related Contacts: Gregory Sangalis, Cullen Frost,
FILINGS: SEC 10-Q (3 months ago) 30-Jul-2019 04:00 GMT
SERVICE CORP INTERNATIONAL has filed its 10-Q report Companies in Event: Service Corporation International,
NEWS: DIVESTITURES (3 months ago) 24-Jul-2019 04:37 GMT
Contravisory Investment Management Inc. Cuts Position in Service Co. International (NYSE:SCI) Service Co. International (NYSE:SCI) by 5.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,171 shares of the company’s stock a�er selling 4,585 shares during the quarter. Contravisory Investment Management Inc.’s holdings in Service Co. International were worth $3,891,000 at the end of the most recent quarter. Several other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired Companies in Event: Service Corporation International, Related Contacts: Marcus Watts, Gregory Sangalis,
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NEWS: EARNINGS RESULTS (3 months ago) 24-Jul-2019 04:37 GMT
Contravisory Investment Management Inc. Cuts Position in Service Co. International (NYSE:SCI) During the same quarter last year, the firm earned $0.47 EPS. Service Co. International’s quarterly revenue was up .5% on a year-over-year basis. Research analysts forecast that Service Co. International will post 1.95 earnings per share for the current year. The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a dividend of $0.18 per share. The ex-dividend date was Thursday, June 13th. This represents a $0.72 dividend on an annualized basis and a yield of 1.52%. Companies in Event: Service Corporation International, Related Contacts: Marcus Watts, Gregory Sangalis,
NEWS: EARNINGS ANNOUNCEMENT (3 months ago) 22-Jul-2019 08:12 GMT
Service Corporation International Announces Schedule For Its Second Quarter 2019 Earnings Release and Conference Call PR Newswire HOUSTON, July 22, 2019 /PRNewswire/ -- Service Corporation International (NYSE: SCI) announced it expects to issue a press release with financial results for the second quarter 2019 on Monday, July 29, 2019. A conference call will be hosted by SCI Management on Tuesday, July 30, 2019. Details of the conference call are as follows: What: Service Corporation International Second Quarter 2019 Earnings Conference Call When: Tuesday, July 30, 2019, at 8:00 a. Companies in Event: Service Corporation International, SCI Management,
Arbor Memorial Services Inc 2 Jane St Suite 101, Toronto, Ontario, M6S 4W8, Canada D-U-N-S® Number: 20-817-9200 Has Not Opted Out of Direct Marketing
Carriage Services, Inc. 3040 Post Oak Blvd Ste 300, Houston, Texas, 77056-6513, United States D-U-N-S® Number: 78-212-8367 Has Not Opted Out of Direct Marketing
Stonemor Partners L.P. 3600 Horizon Blvd Ste 100, Trevose, Pennsylvania, 19053-4965, United States D-U-N-S® Number: 05-948-2682 Has Not Opted Out of Direct Marketing
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Competitors
Closest Industry Peers
Swfd, LLC Death Care Services Houston, Texas, United States Sales USD: 44k , Employees: 1 (This Site) 1 (All Sites) , Type: Private Subsidiary, Phone: +1-713-522-5141 Distance: 0 km
SCI Utah Funeral Services, Inc. Death Care Services Houston, Texas, United States Sales USD: 359k , Employees: 5 (This Site) 5 (All Sites) , Assets: 35M , Type: Private Independent, Phone: +1-713-522-5141 URL: http://www.sci-corp.com Distance: 0 km
Lht Consulting Group, LLC Death Care Services Houston, Texas, United States Sales USD: 77k , Employees: 3 (This Site) 3 (All Sites) , Type: Private Subsidiary, Phone: +1-713-522-5141 URL: http://www.lhtgroup-us.com Distance: 0 km
SCI Texas Funeral Services, Inc. Death Care Services Houston, Texas, United States Sales USD: 6.1M , Employees: 5 (This Site) 49 (All Sites) , Type: Private Subsidiary, Headquarters, Phone: +1-713-522-5141 URL: http://www.sci-corp.com Distance: 0 km
Service Corporation International Death Care Services Houston, Texas, United States Employees: 11 (This Site) , Type: Private Branch, Phone: +1-713-525-5208 URL: http://www.sci.jobs Distance: 0 km
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National Cremation Society, Inc Death Care Services Houston, Texas, United States Sales USD: 3.7M , Employees: 4 (This Site) 75 (All Sites) , Type: Private Subsidiary, Headquarters, Phone: +1-713-522-5141 URL: http://www.nationalcremation.com Distance: 0 km
Mount Olivet Cemetery Association Death Care Services Houston, Texas, United States Sales USD: 178k , Employees: 1 (This Site) 1 (All Sites) , Type: Private Subsidiary, Phone: +1-713-522-5141 Distance: 0 km
A�iliated Family Funeral Service, Inc. Death Care Services Houston, Texas, United States Sales USD: 98k , Employees: 3 (This Site) 3 (All Sites) , Type: Private Independent, URL: http://www.dignitymemorial.com Distance: 0 km
Stri�ler-Hambry Mortuary, Inc. Death Care Services Houston, Texas, United States Sales USD: 126k , Employees: 3 (This Site) 3 (All Sites) , Type: Private Independent, Distance: 0 km
Bell Brothers Jarvi Dowd Funeral Home Death Care Services Houston, Texas, United States Sales USD: 58k , Employees: 3 (This Site) 3 (All Sites) , Type: Private Independent, URL: http://www.dignitymemorial.com Distance: 0 km
Analyst Reports
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Analyst Report 31-Jul-2019 (7 Pages)
Anticipating Back Half-Weighted 2019 Oppenheimer & Co., Inc.
Analyst Report 25-Apr-2019 (7 Pages)
Solid 1Q19 Performance; Maintaining 2019 Outlook Oppenheimer & Co., Inc.
Analyst Report 21-Mar-2019 (12 Pages)
2019 Likely To Be Another Year of Resilient Growth Oppenheimer & Co., Inc.
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Financial Health
Key Indicators USD (mil)
Quarter
Ending 30-Jun-2019
Quarter Ending Yr Ago
Annual Year End
31-Dec-2018
1 Year Growth
3 Year Growth
5 Year Growth
Total Revenue 812.6 2.07% 3,190.2 3.07% 2.23% 4.58%
Operating Income 161.8 3.05% 614.8 7.92% 4.17% 9.31%
Net Income 72.3 -29.94% 447.2 -18.19% 24.11% 24.87%
Basic EPS 0.40 -29.82% 2.45 -15.81% 27.90% 28.47%
Capital Expenditures
-61.1 7.93% -250.1 16.58% 18.30% 17.23%
Cash from Operating Activities
78.0 -24.94% 615.8 22.34% 9.25% 9.87%
Free Cash Flow 16.9 -64.34% 365.8 26.62% 4.42% 6.12%
Total Assets 13,360.3 3.89% 12,693.2 -1.33% 2.82% -0.22%
Total Liabilities 11,616.1 2.04% 11,051.4 -3.52% 1.76% -0.54%
Total Long-Term Debt
3,464.9 -0.82% 3,532.2 12.66% 5.15% 2.48%
Employees - - 24082 2.79% 0.41% 3.21%
Total Common Shares Outstanding
182.5 0.68% 181.5 -2.76% -2.49% -3.09%
Market Cap 8,525.3 29.92% 7,306.0 4.43% 12.76% 13.67%
Key Ratios
31-Dec-2018 31-Dec-2017 31-Dec-2016 31-Dec-2015 31-Dec-2014
Profitability
Gross Margin 23.83% 23.35% 22.33% 22.59% 22.57%
Operating Margin 19.27% 18.41% 17.82% 18.21% 16.40%
Pretax Margin 13.85% 12.93% 10.78% 12.40% 13.45%
Net Profit Margin 14.02% 17.66% 5.84% 7.83% 5.76%
Financial Strength
Current Ratio 0.60 0.58 0.66 0.59 0.72
Long-Term Debt/Equity
2.15 2.22 2.93 2.56 2.17
Total Debt/Equity 2.20 2.48 3.03 2.66 2.25
Interest Coverage 3.43 3.37 3.02 3.14 3.27
Management E�ectiveness
Return on Assets 3.50% 4.39% 1.49% 1.98% 1.39%
Return on Equity 29.31% 43.70% 15.55% 18.31% 12.15%
E�iciency
Receivables Turnover
54.97 49.22 46.47 42.08 38.22
Inventory Turnover 96.56 91.58 86.77 80.35 74.26
Asset Turnover 0.25 0.25 0.26 0.25 0.24
Market Valuation USD (mil)
P/E Ratio 20.76 . Price/Book 4.84
Revenue/Share 17.31 . Book Value/Share 9.56
Enterprise Value 11,886.3 . Market Cap 8,498.0
© 2019 Morningstar. All Rights Reserved. Published by Dun & Bradstreet, Inc., October 2019.
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USD (mil)Total Assets
Total Assets Charts
USD (mil)Revenue
Revenue Charts
USD (mil)Operating Income
Business Segments
31-Dec-18 31-Dec-17 31-Dec-16 31-Dec-15 31-Dec-14
Cemetery 6,913.1 54.5 % 6,946.4 54 % 6,484.3 53.9 % 6,165.0 52.6 % 6,248.7 52.4 %
Corporate 368.9 2.9 % 524.9 4.1 % 397.7 3.3 % 356.8 3 % 465.8 3.9 %
Funeral 5,411.2 42.6 % 5,393.2 41.9 % 5,156.1 42.8 % 5,197.0 44.3 % 5,209.2 43.7 %
SegmentTotal 12,693.2 100 % 12,864.5 100 % 12,038.1 100 % 11,718.9 100 % 11,923.6 100 %
31-Dec-18 31-Dec-17 31-Dec-16 31-Dec-15 31-Dec-14
Cemetery 1,292.2 40.5 % 1,226.9 39.6 % 1,162.3 38.3 % 1,097.6 36.8 % 1,073.5 35.9 %
Funeral 1,898.0 59.5 % 1,868.2 60.4 % 1,868.9 61.7 % 1,888.8 63.2 % 1,920.5 64.1 %
SegmentTotal 3,190.2 100 % 3,095.0 100 % 3,031.1 100 % 2,986.4 100 % 2,994.0 100 %
31-Dec-18 31-Dec-17 31-Dec-16 31-Dec-15
Cemetery 390.7 62 % 350.3 61.5 % 312.2 61 % 284.4 51.7 %
USD (mil)Capital Expenditure
31-Dec-18 31-Dec-17 31-Dec-16 31-Dec-15
Corporate - - - - - - -121.7 -22.1 %
Funeral 369.6 58.6 % 371.9 65.3 % 364.2 71.2 % 387.5 70.4 %
Gains (losses) on divestitures and impairment charges, net
15.9 2.5 % 7.0 1.2 % -26.8 -5.2 % - -
General and administrative expenses
-145.5 -23.1 % -154.4 -27.1 % -137.7 -26.9 % - -
Hurricane expenses, net -0.1 0 % -5.6 -1 % - - - -
SegmentTotal 630.7 100 % 569.2 100 % 511.9 100 % 550.3 100 %
31-Dec-15 31-Dec-14
Cemetery -83.6 55.4 % -78.6 54.4 %
Corporate -14.1 9.4 % -13.3 9.2 %
Funeral -53.3 35.3 % -52.6 36.4 %
SegmentTotal -151.0 100 % -144.5 100 %
© 2019 Dun & Bradstreet, Inc. All rights reserved. Published by Dun & Bradstreet, Inc., October 2019.
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Annual Ratios
31-Dec-2018 31-Dec-2017 31-Dec-2016 31-Dec-2015 31-Dec-2014
Financial Strength
Current Ratio 0.60 0.58 0.66 0.59 0.72
Quick/Acid Test Ratio 0.51 0.52 0.55 0.47 0.56
Working Capital -224.4 -347.7 -183.5 -211.0 -155.2
Long-Term Debt/Equity 2.15 2.22 2.93 2.56 2.17
Total Debt/Equity 2.20 2.48 3.03 2.66 2.25
Long-Term Debt/Total Capital 0.68 0.69 0.75 0.72 0.68
Total Debt/Total Capital 0.70 0.77 0.77 0.75 0.71
Interest Coverage 3.43 3.37 3.02 3.14 3.27
Payout Ratio 24.96% 28.37% 54.36% 34.41% 62.18%
E�ective Tax Rate - - 45.72% 36.46% 56.13%
Total Capitalization 5,174.1 4,544.7 4,289.3 4,222.3 4,332.5
E�iciency
Asset Turnover 0.25 0.25 0.26 0.25 0.24
Inventory Turnover 96.56 91.58 86.77 80.35 74.26
Days In Inventory 3.78 3.99 4.21 4.54 4.92
Receivables Turnover 54.97 49.22 46.47 42.08 38.22
Days Receivables Outstanding 6.64 7.42 7.85 8.67 9.55
Revenue/Employee 132,471 132,108 129,188 125,543 116,412
Operating Income/Employee 25,530 24,318 23,021 22,862 -
EBITDA/Employee 36,200 34,927 31,270 32,734 -
Profitability
Gross Margin 23.83% 23.35% 22.33% 22.59% 22.57%
Operating Margin 19.27% 18.41% 17.82% 18.21% 16.40%
EBITDA Margin 27.33% 26.44% 24.20% 26.07% 27.30%
EBIT Margin 19.54% 18.40% 16.12% 18.19% 19.38%
Pretax Margin 13.85% 12.93% 10.78% 12.40% 13.45%
Net Profit Margin 14.02% 17.66% 5.84% 7.83% 5.76%
COGS/Revenue 76.17% 76.65% 77.67% 77.41% 77.43%
SG&A Expense/Revenue 4.56% 4.95% 4.51% 4.38% 6.17%
Management E�ectiveness
Return on Assets 3.50% 4.39% 1.49% 1.98% 1.39%
Return on Equity 29.31% 43.70% 15.55% 18.31% 12.15%
Valuation
Free Cash Flow/Share 1.65 1.51 1.30 1.47 0.86
Operating Cash Flow/Share 3.00 2.57 2.19 2.21 1.46
Except for share items (millions) and per share items (actual units)
MillionsFinancials In: USD
© 2019 Morningstar. All Rights Reserved. Published by Dun & Bradstreet, Inc., October 2019.
Current Market Multiples
Market Cap/Earnings (TTM) 20.49
Market Cap/Equity (MRQ) 4.84
Market Cap/Revenue (TTM) 2.63
Market Cap/EBIT (TTM) 14.15
Market Cap/EBITDA (TTM) 9.99
Enterprise Value/Earnings (TTM) 28.71
Enterprise Value/Equity (MRQ) 6.78
Enterprise Value/Revenue (TTM) 3.69
Enterprise Value/EBIT (TTM) 19.83
Enterprise Value/EBITDA (TTM) 14.00
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Ratio Comparisons
Ratio Comparisons as of 04-Oct-2019
Traded: New York Stock Exchange: SCI
Industry: Personal Services
Sector: Consumer Cyclical
Company Industry Sector
Valuation Ratios
P/E Ratio 20.76 26.53 24.45
Price/Revenue 2.67 2.04 1.44
Price/Book 4.84 7.88 4.14
Price to Cash Flow per Share 15.24 15.15 0.95
Price to Free Cash Flow per Share 28.30 23.53 8.23
Dividends
Dividend Yield 1.55% 1.19% 1.18%
Payout Ratio 31.39% 37.25% 45.57%
Financial Strength
Quick/Acid Test Ratio 0.51 1.01 0.74
Current Ratio 0.60 1.28 1.18
Total Debt/Equity 2.20 3.00 1.47
Profitability Ratios (%)
Gross Margin 23.83% 38.14% 28.43%
EBITDA Margin (TTM) 26.32% 19.41% 13.88%
Operating Margin (TTM) 18.94% 13.40% 8.94%
Pretax Margin (TTM) 12.72% 9.03% 7.48%
Net Profit Margin (TTM) 13.30% 8.15% 6.11%
E�ective Tax Rate (TTM) - 18.05% 21.98%
Management E�ectiveness (%)
Return on Assets (TTM) 3.16% 4.05% 4.97%
Return on Average Investment (TTM)
11.48% 7.51% 11.37%
Return on Equity (TTM) 25.69% 31.87% 17.78%
E�iciency
Revenue/Employee (TTM) 133,310.52 122,805.98 267,964.25
Receivables Turnover (TTM) 47.57 22.97 7.34
Inventory Turnover (TTM) 94.70 28.86 5.83
Asset Turnover (TTM) 0.24 0.52 0.86
© 2019 Morningstar. All Rights Reserved. Published by Dun & Bradstreet, Inc., October 2019.
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Stock Snapshot
Traded: New York Stock Exchange: SCI As of 4-Oct-2019 (Financials in: US Dollars)
Recent Price 46.60
52 Week High 48.70
52 Week Low 37.52
Avg. Volume (mil) 0.77
Market Value (mil) 8,498.01
EPS 2.23
Price/Sales 2.69
Dividend Rate 0.72
Price/Earnings 20.90
Price/Book 4.87
Beta 0.91
2 Year Weekly End Price & Volume
Stock History
Market Cap History USD (mil)
30-Jun-19 % Chg 31-Mar-19 % Chg 31-Dec-18 % Chg 30-Sep-18 % Chg 30-Jun-18 % Chg
Total Common Shares Outstanding
182 0.1 182 0.4 181 0.3 181 -0.2 181 -1.5
Market Cap 8,525.3 16.5 7,320.3 0.2 7,306.0 -8.4 7,971.9 21.5 6,561.9 -5.7
Yearly Price History
2019 % Chg 2018 % Chg 2017 % Chg 2016 % Chg 2015 % Chg
High Price 48.70 3.4 47.09 23.6 38.10 32.0 28.86 -9.9 32.02 37.0
Low Price 38.92 10.6 35.19 23.9 28.40 40.6 20.21 -8.6 22.11 31.5
Year End Price 46.60 15.7 40.26 7.9 37.32 31.4 28.40 9.1 26.02 14.6
Monthly Price History
Price Ending Date Open High Low Close Volume
04-Oct-19 47.43 48.01 46.16 46.60 3,477,625
Stock Report
Price Ending Date Open High Low Close Volume
27-Sep-19 46.77 47.71 46.77 47.43 4,360,364
30-Aug-19 46.27 48.70 44.36 46.30 17,142,294
31-Jul-19 47.09 48.54 45.24 46.14 16,363,451
28-Jun-19 43.90 46.93 43.79 46.78 14,873,326
31-May-19 41.82 44.01 41.07 43.87 21,418,372
30-Apr-19 40.45 43.96 40.10 41.61 27,883,969
29-Mar-19 41.62 42.36 38.92 40.15 33,290,067
28-Feb-19 43.01 45.99 41.32 41.34 20,249,784
31-Jan-19 40.26 43.83 39.15 42.92 16,455,212
31-Dec-18 46.70 47.09 37.52 40.26 23,426,929
30-Nov-18 41.49 46.34 41.46 46.20 23,693,972
31-Oct-18 44.42 44.53 39.33 41.47 32,194,054
28-Sep-18 41.96 44.29 41.21 44.20 21,493,973
31-Aug-18 39.46 42.93 38.50 41.96 29,277,118
31-Jul-18 35.60 39.47 35.46 39.35 19,870,377
29-Jun-18 36.85 37.22 35.19 35.79 22,338,543
31-May-18 36.42 37.92 35.46 36.69 18,521,318
30-Apr-18 37.71 39.24 36.49 36.51 24,866,316
29-Mar-18 37.53 39.78 36.95 37.74 19,137,119
28-Feb-18 39.92 40.28 35.65 37.43 31,789,903
31-Jan-18 37.32 40.19 37.15 39.97 20,866,055
29-Dec-17 36.99 38.10 36.22 37.32 21,997,694
30-Nov-17 35.51 37.11 33.45 36.95 16,979,399
31-Oct-17 34.54 35.65 33.16 35.46 28,623,330
29-Sep-17 35.41 35.62 33.97 34.50 22,706,347
31-Aug-17 34.83 35.89 34.42 35.34 17,754,869
31-Jul-17 33.62 35.50 32.90 34.73 23,427,480
30-Jun-17 31.94 33.56 31.52 33.45 22,582,028
31-May-17 32.52 32.58 31.17 31.88 18,503,092
28-Apr-17 30.87 33.20 30.12 32.22 19,367,107
31-Mar-17 31.03 31.34 30.02 30.88 21,822,836
28-Feb-17 29.27 32.21 29.00 30.73 29,267,676
31-Jan-17 28.40 29.46 28.40 29.13 23,365,179
30-Dec-16 27.00 28.86 26.43 28.40 24,370,496
30-Nov-16 25.70 27.43 24.90 26.99 22,754,345
31-Oct-16 26.53 26.90 25.00 25.60 23,936,459
30-Sep-16 26.38 27.00 25.72 26.54 28,851,471
31-Aug-16 27.70 27.72 26.24 26.44 20,324,462
29-Jul-16 27.06 28.81 26.34 27.72 18,465,980
30-Jun-16 27.32 28.09 25.51 27.04 23,450,949
31-May-16 26.67 27.52 26.37 27.40 17,112,938
29-Apr-16 24.53 28.15 24.32 26.67 22,492,480
31-Mar-16 23.73 24.96 22.86 24.68 26,060,245
29-Feb-16 23.97 24.04 20.21 23.52 42,238,033
29-Jan-16 26.02 26.02 22.66 24.19 32,288,024
Price Ending Date Open High Low Close Volume
31-Dec-15 27.94 28.49 25.20 26.02 25,670,744
30-Nov-15 28.21 28.38 25.84 27.85 32,036,514
30-Oct-15 27.09 29.68 25.15 28.26 30,716,736
30-Sep-15 29.03 29.96 26.49 27.10 26,649,241
31-Aug-15 30.70 32.02 22.77 29.65 27,579,691
31-Jul-15 29.72 30.91 28.65 30.51 19,399,540
30-Jun-15 29.08 30.23 28.70 29.43 19,498,652
29-May-15 27.75 29.20 27.29 29.06 20,847,809
30-Apr-15 26.05 28.39 25.88 27.68 25,901,105
31-Mar-15 24.92 27.18 24.74 26.05 26,319,684
27-Feb-15 22.75 25.07 22.32 24.85 22,482,466
30-Jan-15 22.70 23.32 22.11 22.63 16,663,953
31-Dec-14 22.58 23.38 21.53 22.70 23,802,629
28-Nov-14 21.86 22.75 21.43 22.60 17,975,201
31-Oct-14 21.15 22.11 19.74 21.87 32,628,231
© 2019 Morningstar. All Rights Reserved. Published by Dun & Bradstreet, Inc., October 2019.
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Annual Income (Standardized)
31-Dec-2018 31-Dec-2017 31-Dec-2016 31-Dec-2015 31-Dec-2014
Period Length 12 Months 12 Months 12 Months 12 Months 12 Months
UpdateType/Date Filed 20-Feb-2019
Filed 20-Feb-2019
Filed 20-Feb-2019
Filed 14-Feb-2018
Filed 21-Feb-2017
Filed Currency USD USD USD USD USD
Exchange Rate 1 1 1 1 1
Auditor Pricewaterhouse Coopers LLP
Pricewaterhouse Coopers LLP
Pricewaterhouse Coopers LLP
Pricewaterhouse Coopers LLP
Pricewaterhouse Coopers LLP
Auditor Opinion Unqualified Unqualified Unqualified Unqualified Unqualified
Operating Revenue 2,958.6 2,882.4 2,802.1 2,821.0 2,824.2
Total Revenue 3,190.2 3,095.0 3,031.1 2,986.0 2,994.0
Cost of Revenue 2,429.9 2,372.3 2,354.3 2,311.5 2,318.3
Gross Profit 760.3 722.8 676.9 674.6 675.7
Other General and Administrative Expenses
145.5 153.1 136.7 130.8 184.7
General and Administrative Expense
145.5 153.1 136.7 130.8 184.7
Selling, General and Administrative Expenses
145.5 153.1 136.7 130.8 184.7
Total Operating Expense 145.5 153.1 136.7 130.8 184.7
Operating Income 614.8 569.7 540.1 543.8 490.9
Interest Expense - Non- Operating
181.6 169.1 162.1 172.9 177.6
Net Non-Operating Interest Income (Expense)
-181.6 -169.1 -162.1 -172.9 -177.6
Write-O� 4.4 22.0 34.6 6.8 5.9
Gain on Sale of Business 20.3 29.1 7.8 13.4 122.5
Other Special Charges 10.2 5.9 22.5 6.9 29.2
Special Income (Charges) 5.7 1.2 -49.3 -0.4 87.5
Other Non-Operating Income (Expenses)
2.8 -1.5 -2.1 -0.1 1.8
Other Income (Expense) 8.5 -0.3 -51.4 -0.5 89.2
Income Before Tax 441.7 400.3 326.7 370.4 402.6
Total Income Tax -5.8 -146.6 149.4 135.0 226.0
Income A�er Tax 447.6 546.8 177.3 235.3 176.6
Net Income from Continuing Operations
447.6 546.8 177.3 235.3 176.6
Except for share items (millions) and per share items (actual units)
MillionsFinancials In: USD
© 2019 Morningstar. All Rights Reserved. Published by Dun & Bradstreet, Inc., October 2019.
31-Dec-2018 31-Dec-2017 31-Dec-2016 31-Dec-2015 31-Dec-2014
Discontinued Operations - - - -0.4 2.2
Minority Interest -0.4 -0.2 -0.3 -1.2 -6.3
Net Income 447.2 546.7 177.0 233.8 172.5
Net Income Available to Common Stockholders
447.2 546.7 177.0 233.8 172.5
Basic EPS 2.45 2.91 0.92 1.17 0.82
Basic EPS from Continuing Operations
2.45 2.91 0.92 1.17 0.81
Basic EPS from Discontinued Operations
- - - 0.00 0.01
Diluted EPS 2.39 2.84 0.90 1.14 0.81
Diluted EPS from Continuing Operations
2.39 2.84 0.90 1.15 0.80
Diluted EPS from Discontinued Operations
- - - 0.00 0.01
Basic Average Shares 182.4 187.6 193.1 200.4 210.7
Diluted Average Shares 187.0 192.2 196.0 204.5 214.2
Dilution Adjustment - 0.1 0.0 0.1 0.1
Interest Expense 181.6 169.1 162.1 172.9 177.6
Net Interest Income -181.6 -169.1 -162.1 -172.9 -177.6
Net Income Including Non- Controlling Interests
447.6 546.8 177.3 234.9 178.8
Net Income from Continuing and Discontinued Operations
447.2 546.7 177.0 233.8 172.5
Normalized Income 441.4 545.1 203.8 234.4 131.9
Basic EPS from Continuing & Discontinued Operations
2.45 2.91 0.92 1.17 0.82
Diluted EPS from Continuing & Discontinued Operations
2.39 2.84 0.90 1.14 0.81
Dividends per Share 0.68 0.56 0.51 0.44 0.34
Net Income Before Extraord Items
447.2 546.7 177.0 234.2 170.3
Total Unusual Items 5.7 1.2 -49.3 -0.4 87.5
Total Unusual Items Excluding Goodwill
5.7 1.2 -49.3 -0.4 87.5
Tax Rate -1.30% -36.60% 45.70% 36.50% 56.10%
Tax E�ect of Unusual Items -0.1 -0.4 -22.5 -0.1 49.1
Basic Normalized EPS 2.42 2.90 1.06 1.17 0.63
Diluted Normalized EPS 2.36 2.83 1.04 1.15 0.62
EBITDA 871.8 818.3 733.7 778.6 817.3
Normalized EBITDA 866.1 817.1 783.0 779.0 729.8
Reconciled Cost of Revenue 2,429.9 2,372.3 2,354.3 2,311.5 2,318.3
Reconciled Depreciation 248.5 248.9 244.9 235.3 237.1
EBIT 623.3 569.4 488.8 543.2 580.2
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Annual Balance (Standardized)
31-Dec-2018 31-Dec-2017 31-Dec-2016 31-Dec-2015 31-Dec-2014
Period Length
UpdateType/Date Filed 20-Feb-2019
Filed 20-Feb-2019
Filed 20-Feb-2019
Filed 14-Feb-2018
Filed 21-Feb-2017
Filed Currency USD USD USD USD USD
Exchange Rate 1 1 1 1 1
Auditor Pricewaterhouse Coopers LLP
Pricewaterhouse Coopers LLP
Pricewaterhouse Coopers LLP
Pricewaterhouse Coopers LLP
Pricewaterhouse Coopers LLP
Auditor Opinion Unqualified Unqualified Unqualified Unqualified Unqualified
Cash 177.3 260.3 146.7 106.8 132.7
Cash Equivalents 21.5 69.8 48.3 27.8 44.6
Cash and Cash Equivalents 198.9 330.0 195.0 134.6 177.3
Cash, Cash Equivalents and Short-Term Investments
198.9 330.0 195.0 134.6 177.3
Accounts Receivable 55.0 61.1 64.7 65.8 76.1
Notes Receivable 1.8 1.6 1.3 2.1 8.4
Taxes Receivable 8.3 8.6 3.6 15.7 22.6
Other Receivables 17.1 27.6 32.5 22.6 24.5
Total Receivables 82.2 98.9 102.1 106.1 131.6
Total Inventory 25.0 25.4 26.4 27.8 29.7
Prepaid Assets 5.0 4.4 4.4 5.4 5.3
Restricted Cash 7.0 8.6 12.0 12.6 28.9
Current Deferred Assets - - - - 9.2
Other Current Assets 13.2 14.0 14.5 13.5 14.8
Total Current Assets 331.2 481.3 354.4 300.1 396.9
Land and Improvements 631.7 605.7 595.1 591.4 603.5
Buildings and Improvements
2,107.3 1,996.1 1,879.6 1,834.4 1,783.2
Machinery and Equipment 609.7 557.3 549.9 530.2 500.5
Leases 34.8 34.6 33.9 52.1 50.9
Other Property/Plant/Equipment
263.9 254.3 234.4 220.8 205.0
Property/Plant/Equipment - Gross
3,647.3 3,448.0 3,292.8 3,228.9 3,143.0
Accumulated Depreciation -1,670.0 -1,575.0 -1,465.3 -1,382.2 -1,281.6
Property/Plant/Equipment - Net
1,977.4 1,873.0 1,827.6 1,846.7 1,861.4
Goodwill 1,863.8 1,806.0 1,799.1 1,796.3 1,810.9
Other Intangible Assets 433.8 374.1 368.1 370.0 393.8
Goodwill and Other Intangible Assets
2,297.7 2,180.1 2,167.1 2,166.3 2,204.6
Note Receivable - Long-Term 19.5 20.6 20.9 21.6 34.9
Except for share items (millions) and per share items (actual units)
MillionsFinancials In: USD
31-Dec-2018 31-Dec-2017 31-Dec-2016 31-Dec-2015 31-Dec-2014
Non-Current Accounts Receivable
886.9 1,290.9 1,189.1 1,089.5 982.9
Investments in Financial Assets
4,851.5 5,009.2 4,512.2 4,297.0 4,496.9
Long-Term Investments 4,851.5 5,009.2 4,512.2 4,297.0 4,496.9
Deferred Taxes - Non- Current Assets
0.7 0.9 0.9 23.8 -
Non-Current Deferred Assets 283.0 0.9 0.9 23.8 -
Other Long-Term Assets 2,046.2 2,008.6 1,965.9 1,931.3 1,946.0
Total Non-Current Assets 12,362.0 12,383.2 11,683.8 11,376.3 11,526.8
Total Assets 12,693.2 12,864.5 12,038.1 11,676.4 11,923.6
Accounts Payable 173.4 173.7 155.8 140.0 137.3
Income Taxes Payable 5.9 2.5 8.0 1.4 8.0
Total Tax Payable 24.4 13.0 20.8 13.0 22.4
Payables 197.8 186.7 176.6 153.0 159.7
Interest Payable 26.0 30.4 28.0 28.7 30.1
Accrued Expenses 181.4 182.5 161.9 162.5 186.7
Line of Credit 16.2 27.2 20.9 21.8 27.8
Other Short-Term Borrowings
69.9 337.3 90.0 86.8 90.9
Current Debt 86.1 364.6 110.9 108.6 118.7
Current Debt and Capital Lease Obligation
86.1 364.6 110.9 108.6 118.7
Total Current Liabilities 555.6 829.0 537.9 511.0 552.0
Long-Term Provisions 48.0 51.8 52.1 55.2 60.0
Long-Term Debt 3,532.2 3,135.3 3,196.6 3,037.6 2,963.8
Long-Term Debt and Capital Lease Obligation
3,532.2 3,135.3 3,196.6 3,037.6 2,963.8
Deferred Taxes - Non- Current Liabilities
406.5 394.8 690.3 704.8 688.1
Non-Current Deferred Revenue
4,917.4 5,386.0 4,940.2 4,743.5 4,834.7
Non-Current Deferred Liabilities
5,323.9 5,780.8 5,630.5 5,448.2 5,522.8
Pension Benefits, Non- Current Liabilities
21.5 25.4 26.6 28.6 32.9
Employee Benefits 21.5 25.4 26.6 28.6 32.9
Trade and Other Payables - Non-Current
88.8 83.0 77.1 71.1 64.7
Other Long-Term Liabilities 1,481.4 1,549.8 1,422.1 1,335.3 1,350.0
Total Non-Current Liabilities 10,495.8 10,626.1 10,405.0 9,976.0 9,994.3
Total Liabilities 11,051.4 11,455.1 10,942.9 10,487.0 10,546.3
Common Stock 181.5 186.6 189.4 195.8 204.9
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© 2019 Morningstar. All Rights Reserved. Published by Dun & Bradstreet, Inc., October 2019.
31-Dec-2018 31-Dec-2017 31-Dec-2016 31-Dec-2015 31-Dec-2014
Capital Stock 181.5 186.6 189.4 195.8 204.9
Retained Earnings (Accumulated Deficit)
474.3 210.4 -103.4 -109.4 -81.9
Additional Paid-In Capital 972.7 970.5 990.2 1,092.1 1,186.3
Gains (Losses) Not A�ecting Retained Earnings
13.4 41.9 16.5 6.2 59.4
Stockholders' Equity 1,641.9 1,409.4 1,092.7 1,184.7 1,368.7
Minority Interest -0.1 0.0 2.5 4.7 8.7
Total Equity 1,641.8 1,409.4 1,095.2 1,189.4 1,377.4
Total Liabilities and Shareholders’ Equity
12,693.2 12,864.5 12,038.1 11,676.4 11,923.6
Net Tangible Assets -655.8 -770.7 -1,074.4 -981.7 -835.9
Working Capital -224.4 -347.7 -183.5 -211.0 -155.2
Invested Capital 5,260.2 4,909.3 4,400.2 4,330.9 4,451.2
Total Debt 3,618.3 3,499.9 3,307.5 3,146.2 3,082.5
Net Debt 3,419.4 3,169.9 3,112.5 3,011.6 2,905.2
Total Capitalization 5,174.1 4,544.7 4,289.3 4,222.3 4,332.5
Common Stock Equity 1,641.9 1,409.4 1,092.7 1,184.7 1,368.7
Total Common Shares Outstanding
181.5 186.6 189.4 195.8 204.9
Treasury Shares Number 3.3 5.3 6.0 5.1 0.6
Shares Issued 184.7 191.9 195.4 200.9 205.5
Tangible Book Value -655.8 -770.7 -1,074.4 -981.7 -835.9
Employees 24,082 23,428 23,463 23,785 -
Annual Cash Flow (Standardized)
31-Dec-2018 31-Dec-2017 31-Dec-2016 31-Dec-2015 31-Dec-2014
Period Length 12 Months 12 Months 12 Months 12 Months 12 Months
UpdateType/Date Filed 20-Feb-2019
Filed 20-Feb-2019
Filed 20-Feb-2019
Filed 14-Feb-2018
Filed 21-Feb-2017
Filed Currency USD USD USD USD USD
Exchange Rate 1 1 1 1 1
Auditor Pricewaterhouse Coopers LLP
Pricewaterhouse Coopers LLP
Pricewaterhouse Coopers LLP
Pricewaterhouse Coopers LLP
Pricewaterhouse Coopers LLP
Auditor Opinion Unqualified Unqualified Unqualified Unqualified Unqualified
Net Income from Continuing Operations
447.6 546.8 177.3 235.3 176.6
Gain (Loss) on Sale of Business
-15.9 -7.0 26.8 -6.5 -116.6
Gain (Loss) on Investment Securities
-2.6 - - - -
Operating Gains (Losses) -8.4 -6.7 49.3 -6.2 -112.3
Depreciation 153.7 153.1 147.2 141.5 140.0
Amortization of Intangibles 94.8 95.8 97.7 93.9 97.1
Amortization 94.8 95.8 97.7 93.9 97.1
Depreciation and Amortization
248.5 248.9 244.9 235.3 237.1
Depreciation, Amortization and Depletion
248.5 248.9 244.9 235.3 237.1
Write-O� of Assets -33.1 -307.9 18.3 24.1 137.0
Stock-Based Compensation 15.6 14.8 14.1 13.8 13.1
Excess Tax Benefit from Stock- Based Compensation
- - -12.7 -18.1 -30.1
Other Non-Cash Items 6.1 5.9 5.8 9.4 8.7
Accounts Receivable -47.6 -73.7 -87.6 -47.7 -32.3
Receivables -47.6 -73.7 -87.6 -47.7 -32.3
Accounts Payable -16.7 81.8 47.9 20.6 -12.0
Payables -16.7 81.8 47.9 20.6 -12.0
Payables/Accrued -16.7 81.8 47.9 20.6 -12.0
Other Current Assets -4.8 -14.4 22.8 2.5 -11.0
Other Working Capital 8.7 7.9 8.9 3.0 -56.6
Changes in Working Capital -60.4 1.6 -8.0 -21.6 -111.9
Cash from Discontinued Operating Activities
- - - - -1.0
Cash from Operating Activities 615.8 503.4 489.0 472.2 317.4
Capital Expenditure -235.5 -214.5 -193.4 -151.0 -144.5
Purchase of Property/Plant/Equipment
-14.5 - - - -
Except for share items (millions) and per share items (actual units)
MillionsFinancials In: USD
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© 2019 Morningstar. All Rights Reserved. Published by Dun & Bradstreet, Inc., October 2019.
31-Dec-2018 31-Dec-2017 31-Dec-2016 31-Dec-2015 31-Dec-2014
Sale of Property/Plant/Equipment
- 0.2 - - -
Net Purchase (Sale) of Property/Plant/Equipment
-14.5 0.2 - - -
Sale/Maturity of Investment 2.9 - - - -
Investment, Net 2.9 - - - -
Acquisition of Business -194.8 -76.2 -72.9 -41.3 -15.3
Sale of Business 37.3 52.4 51.8 16.8 424.4
Net Acquisition (Sale) of Business
-157.5 -23.8 -21.0 -24.5 409.0
Other Investing Cash Flow -9.9 -4.8 -6.5 8.1 -12.2
Cash from Discontinued Investing Activities
- - - 1.0 5.0
Cash from Investing Activities -414.6 -242.9 -221.0 -166.4 257.3
Short-Term Debt, Net -15.2 6.0 -1.1 -7.5 7.1
Long-Term Debt Issued 396.3 1,787.5 1,060.0 446.3 755.0
Long-Term Debt Reduction -333.4 -1,637.6 -965.2 -386.2 -1,022.7
Long-Term Debt, Net 62.9 149.9 94.8 60.1 -267.7
Issuance (Retirement) of Debt, Net
47.8 155.9 93.7 52.5 -260.6
Repurchase/Retirement of Common
-277.6 -199.6 -227.9 -345.3 -242.9
Common Stock, Net -277.6 -199.6 -227.9 -345.3 -242.9
Cash Dividends Paid - Common
-123.8 -108.8 -98.4 -87.6 -71.5
Total Cash Dividends Paid -123.8 -108.8 -98.4 -87.6 -71.5
Options Exercised 24.5 33.6 17.7 31.8 32.4
Other Financing Cash Flow - -17.5 5.5 10.0 4.6
Cash from Financing Activities -329.2 -136.4 -209.5 -338.5 -538.0
Cash from Discontinued Operation
- - - - 1.4
Net Cash - Beginning Balance 340.6 211.5 151.1 177.3 141.6
Net Change in Cash -128.0 124.1 58.6 -32.7 38.0
Foreign Exchange E�ects -5.0 5.0 1.9 -10.0 -2.3
Net Cash - Ending Balance 207.6 340.6 211.5 134.6 177.3
Capital Expenditures -250.1 -214.5 -193.4 -151.0 -144.5
Total Debt Issued 396.3 1,787.5 1,060.0 446.3 755.0
Total Debt Reduction -333.4 -1,637.6 -965.2 -386.2 -1,022.7
Repurchase of Capital Stock -277.6 -199.6 -227.9 -345.3 -242.9
Free Cash Flow 365.8 288.9 295.6 321.2 172.9
