SCINYSEServices-Personal ServicesUS GAAP · USD

Service Corporation International

Service Corporation International provides funeral, cremation, and cemetery services through a network of funeral homes, cemeteries, crematoria, and combination locations across North America. The company also sells related merchandise and prearranged funeral and cemetery contracts, with operations centered in the United States and Canada.

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Revenue4,309m USD
+2.9 %y/y
Operating profit (EBIT)978m USD
+5.4 %y/y
EBIT margin22.7%
+0.5 ppy/y
Net income543m USD
+4.6 %y/y
Free cash flow943m USD
−0.2 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

01,0002,0003,0004,0005,000m USD2020: 3,512 m USD2020: EBIT 843 m USD20202021: 4,143 m USD2021: EBIT 1,191 m USD20212022: 4,109 m USD2022: EBIT 927 m USD20222023: 4,100 m USD2023: EBIT 944 m USD20232024: 4,186 m USD2024: EBIT 928 m USD20242025: 4,309 m USD2025: EBIT 978 m USD20254,309978
RevenueOperating profit (EBIT)
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Business

Share of revenue
Funeral services45 %

Professional funeral arrangement, directing, preparation, and cremation services.

Cemetery property and services35 %

Interment rights, cemetery merchandise, and related cemetery services.

Preneed contracts15 %

Prearranged funeral and cemetery sales funded through trust or insurance.

Merchandise and memorialization5 %

Caskets, urns, markers, floral items, tributes, and related products.

Products

Reported · share of revenue
48.3%41.9%9.8%FY2025100 %
  • Products48.3 %
  • Services41.9 %
  • Other9.8 %

Source: 10-K FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.

Customers

Customers are families and individuals arranging at-need funeral and cremation services, as well as consumers planning ahead through preneed contracts. The company also serves cemetery buyers seeking burial rights, memorialization, and cremation property options tailored to religious, ethnic, and cultural preferences.

At-need families

Buy funeral and cremation services when a death occurs, valuing convenience, professionalism, and local presence.

Preneed consumers

Prearrange and prepay funeral or cemetery services to lock in preferences and reduce burden on families.

Cemetery property buyers

Purchase interment rights, estate property, niches, and gardens for burial or cremation memorialization.

Memorialization merchandise buyers

Buy caskets, urns, markers, flowers, and tribute products tied to funeral or cemetery events.

Strategy

The company focuses on growing preneed sales, expanding its network through acquisitions and new locations, and using scale to improve customer reach and operating efficiency. It also emphasizes digital lead generation, customer-facing technology, and a broader mix of personalized cemetery and cremation offerings to match changing consumer preferences.

Expand preneed sales and backlogShort term

Preneed contracts create future revenue visibility and deepen customer relationships before need arises.

Acquire and develop locationsMedium term

Adding funeral homes, cemeteries, and combination locations extends market coverage and scale.

Broaden cemetery and cremation offeringsMedium term

Personalized property and cremation options help match changing consumer preferences.

Improve digital engagement and efficiencyShort term

Digital channels and technology support lead generation, conversion, and service consistency.

Geography

Service Corporation International operates primarily in North America, with a large network of funeral and cemetery locations in the United States and Canada. The company also has cash balances and operating requirements in Canada and Puerto Rico, which can affect liquidity management and local operating flexibility.

Risks

The business is exposed to supply chain disruption, commodity inflation, tariffs, and delivery failures because it depends on merchandise and service fulfillment across a broad location network. It also faces cybersecurity, IT, regulatory, trust-investment market, and goodwill impairment risks, all of which can affect customer trust, operating continuity, and reported results.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Supply chain disruption and tariffs1Cybersecurity and data privacy breaches2Trust investment market volatility3Regulatory and legal compliance4Goodwill impairment5
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Supply chain disruption and tariffsImpact: HighLikelihood: Medium

    The company relies on third-party suppliers and delivery networks for funeral and cemetery merchandise.

    Exposure: Merchandise procurement and fulfillment

  2. Cybersecurity and data privacy breachesImpact: HighLikelihood: Medium

    The business stores sensitive customer, family, associate, and vendor information.

    Exposure: Customer records and digital lead channels

  3. Trust investment market volatilityImpact: HighLikelihood: Medium

    Preneed and cemetery trust assets are invested in securities whose values fluctuate with markets.

    Exposure: Trust earnings and deferred revenue support

  4. Regulatory and legal complianceImpact: MediumLikelihood: Medium

    Funeral and cemetery operations are subject to state, provincial, and local rules.

    ExposureLicensingTrust fundsCemetery operations
  5. Goodwill impairmentImpact: MediumLikelihood: Medium

    Acquired funeral and cemetery businesses may be impaired if market or operating conditions deteriorate.

    ExposureReporting unitsEspecially cemetery segment
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Accounting

Judgemental items
Revenue recognition timing

At-need services, merchandise delivery, and cemetery property sales recognize revenue at different points in time.

Impact: Affects quarterly revenue timing and backlog conversion

Preneed deferred revenue and backlog

Insurance-funded and trust-funded contracts create future obligations and deferred revenue balances.

Impact: Affects future revenue visibility and balance sheet liabilities

Trust asset valuation and cancellation allowances

Trust investments are marked to fair value and adjusted for expected cancellations.

Impact: Affects reported trust assets, earnings, and deferred revenue support

Goodwill impairment

Acquired funeral and cemetery businesses are tested for impairment based on fair value.

Impact: Can create non-cash charges if market conditions weaken

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Last updated: 24/09/2026