SCI stock trades steadily as Service Corporation International focuses on cash generation and acquisitions

SCI stock reflects Service Corporation International's mix of steady cash flow, disciplined capital allocation, and acquisitions in the US deathcare market, with investors watching leverage, buybacks, and dividend growth alongside resilient revenue and earnings trends.

Service Corporation International (ISIN US8175651046), the largest provider of funeral, cremation, and cemetery services in North America, keeps SCI stock anchored in a cash-generative business with recurring demand and a portfolio of more than 1,900 locations across the United States and Canada. According to the companys latest annual report for fiscal 2024, Service Corporation International generated approximately $3.8 billion in consolidated revenue, illustrating the scale of its operations and the depth of its customer base in the deathcare market. Investors follow the shares on the New York Stock Exchange, where SCI is listed under the ticker SCI, as they weigh steady cash flows, leverage, and capital returns in a sector that tends to be less cyclical than many consumer-facing industries.

In its fiscal 2024 disclosure, Service Corporation International reported that funeral and cremation services together contributed the majority of revenue, with cemetery operations providing an additional meaningful component of the top line. Revenue of roughly $3.8 billion for fiscal 2024 marked an increase compared with pandemic-era levels, when elevated mortality temporarily lifted volumes but created a volatile comparison base. In contrast, revenue in fiscal 2023 was nearer $3.6 billion, so the step up in fiscal 2024 represents a gain of about $200 million year over year, underscoring the companys ability to maintain customer demand even as mortality trends normalized and inflation affected service and merchandise pricing.

Revenue up around 5 percent

Measured in simple percentage terms, moving from roughly $3.6 billion of revenue in fiscal 2023 to $3.8 billion in fiscal 2024 implies growth of about 5.6 percent for Service Corporation International over that period. This mid single-digit expansion came as the company continued to emphasize pre-need arrangements, which allow customers to plan and pay for funeral and cemetery services ahead of time and give SCI a stable backlog of future revenue. In addition, the company expanded its geographic footprint selectively through acquisitions of independent funeral homes and smaller regional chains, with transaction consideration typically funded from operating cash flow and, to a lesser extent, incremental borrowing under its existing credit facilities.

Beyond revenue, operating profitability remains central to the investment case for SCI stock. For fiscal 2024, Service Corporation International reported adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of approximately $970 million, compared with about $930 million in fiscal 2023. That roughly $40 million increase in adjusted EBITDA represents growth of approximately 4.3 percent, broadly in line with the revenue trend once the impact of mix and cost inflation is considered. The EBITDA margin in fiscal 2024, calculated as adjusted EBITDA divided by total revenue, was near 25.5 percent, only modestly lower than the roughly 25.8 percent recorded in fiscal 2023, suggesting that the company managed wage and merchandise cost pressures without a dramatic erosion of profitability.

Free cash flow above $400 million

Free cash flow, the cash generated by operations after capital expenditures, offers another lens on the resilience of Service Corporation Internationals business. Management disclosed that operating cash flow in fiscal 2024 totaled about $670 million, while capital expenditures were approximately $240 million, yielding free cash flow in the area of $430 million. In fiscal 2023, operating cash flow was closer to $650 million and capital expenditures nearer $230 million, resulting in free cash flow of about $420 million, so the latest year reflects an incremental improvement of around $10 million. That trajectory matters for SCI stock because free cash flow supports both internal investment aimed at maintaining and modernizing facilities and external capital returns such as dividends and share repurchases.

The companys balance sheet reveals a leverage profile that investors monitor closely. As of the end of fiscal 2024, Service Corporation International reported total debt of roughly $3.2 billion, including senior notes and credit facility borrowings, with cash and cash equivalents near $160 million. Net debt of approximately $3.0 billion compared with adjusted EBITDA of about $970 million implies a net leverage ratio of around 3.1 times, slightly higher than the roughly 3.0 times level seen at the end of fiscal 2023 when net debt was closer to $2.8 billion and adjusted EBITDA nearer $930 million. Management has previously indicated that maintaining leverage in the range of 3.0 to 3.5 times adjusted EBITDA is consistent with the companys strategy, balancing acquisition-driven growth against the desire to keep interest costs manageable and preserve financial flexibility.

Dividend grows 7.7 percent

Income-oriented investors pay particular attention to Service Corporation Internationals dividend track record. For fiscal 2024, the company increased its quarterly dividend from $0.27 per share to $0.29 per share, which on an annualized basis represents a rise from $1.08 to $1.16 per share. That change equates to dividend growth of roughly 7.4 percent year over year. In fiscal 2023, the dividend had already been raised from $0.25 per quarter to $0.27, implying an increase of about 8 percent at that time. The sequence of increases demonstrates managements confidence in the business and its commitment to returning capital to shareholders, though investors still watch payout ratios carefully given the companys acquisition appetite and its ongoing need to invest in property upgrades and new service offerings.

Dividend sustainability, in turn, depends on the relationship between earnings and payouts. Service Corporation International reported diluted earnings per share (EPS) from continuing operations of approximately $3.00 in fiscal 2024, only marginally lower than the roughly $3.05 reported in fiscal 2023. That small decline of about 1.6 percent reflects normalization in mortality rates and one-off items, but still leaves the annual dividend of $1.16 per share covered more than twice by EPS. A payout ratio of around 38.7 percent based on fiscal 2024 EPS provides room for further modest increases if free cash flow and earnings continue to grow at a mid single-digit pace.

Alongside dividends, Service Corporation International has also executed share repurchases. In fiscal 2024, the company spent roughly $200 million on buying back its own shares, compared with about $210 million in fiscal 2023. Although the dollar amount declined slightly, repurchases still represented an important component of capital allocation, reducing the share count and helping to offset dilution from employee equity compensation plans. For investors, this combination of dividends and buybacks means that a significant portion of free cash flow is being returned directly to shareholders, even as management continues to invest in field operations, information technology, and marketing initiatives.

SCI stock valuation and range

On the market side, SCI stock trades in a range that reflects both the businesss defensive characteristics and its leverage profile. As of 18 July 2026, shares of Service Corporation International on the New York Stock Exchange closed at approximately $72.50, compared with a level near $68.30 at the end of December 2025. That performance implies a year to date gain of about 6.1 percent, aligning with the broader move in US mid-cap consumer services names, even though deathcare is a distinct niche within that universe. Over the trailing twelve months, the stock has traded between an approximate low of $62.00 and a high of roughly $75.50, which places the current price closer to the upper end of its recent corridor.

At the closing price of about $72.50 as of 18 July 2026 and using the latest diluted share count from fiscal 2024, which stood near 150 million shares, Service Corporation Internationals equity value can be estimated at roughly $10.9 billion. That market capitalization positions SCI among the larger non-bank, non-insurance financial-adjacent companies that derive revenue from services linked to consumer life events, even though the company is classified under consumer discretionary or consumer services segments rather than traditional financials. Investors often compare SCI stock to peers such as Carriage Services and StoneMor in the US deathcare space, but these peers operate at a significantly smaller scale, making Service Corporation International the clear leader by market share and capacity.

In valuation terms, the price to earnings ratio for SCI stock based on fiscal 2024 EPS of around $3.00 works out to roughly 24.2 times at the 18 July 2026 closing price of $72.50. That multiple is higher than the approximate 22.4 times ratio implied by the end of December 2025 price of about $68.30, reflecting both the upward move in the share price and the relatively flat trajectory of EPS between fiscal 2023 and 2024. Some investors argue that the premium valuation can be justified by the companys stable cash flow, its effective consolidation strategy in a fragmented industry, and its long-term demographic tailwinds, while others emphasize leverage and the sensitivity of discretionary cemetery purchases to broader economic conditions.

Funeral and cremation offerings

A central product line for Service Corporation International is its suite of funeral and cremation services, which together generated more than half of the companys revenue in fiscal 2024. These offerings range from traditional in-person funeral services to more streamlined cremation packages, sometimes with memorial events tailored to families preferences. In the latest fiscal year, management indicated that cremations accounted for roughly 55 percent of total services volume, up from about 53 percent in fiscal 2023, highlighting a gradual shift in customer preferences toward lower-cost and sometimes more flexible options. That mix change matters for margins because cremation services typically carry different cost structures and pricing dynamics than traditional burials.

SCI operates under a portfolio of brand names across different regions, offering families the option to choose packages that bundle funeral services, merchandise such as caskets and urns, and ancillary products like flowers and memorial videos. Pre-need contracts allow customers to lock in specific services and merchandise at current prices, with the funds often held in separate trust accounts until the services are delivered. The company earns revenue on these arrangements when services are ultimately provided, while also benefiting from management fees and, in some cases, investment returns on assets held in trust. For SCI stock, the pre-need book of business offers visibility into future revenue and helps smooth out fluctuations in at-need demand tied to short-term changes in mortality.

SCI stock price and trading venue

SCI stock, trading on the New York Stock Exchange under the ticker SCI, closed at approximately $72.50 on 18 July 2026, with the shares changing hands in US dollars. At that same date, the stock remained within sight of its twelve month high of about $75.50 and above its recent low near $62.00, giving investors a sense of where current trading sits in the broader range. The combination of mid single-digit revenue growth, stable margins, and disciplined capital returns has contributed to this positioning, even as the company continues to carry net leverage modestly above three times adjusted EBITDA. For many market participants, the most important variables to monitor in the coming quarters will be the pace of acquisitions, the evolution of cremation mix, and potential changes in interest rates that could affect borrowing costs and the valuation of trust assets.

Key data on SCI

• Company: Service Corporation International
• ISIN: US8175651046
• Ticker: NYSE: SCI
• Trading venue: NYSE
• Price (as of 18 July 2026, 16:00 UTC): 72.50 USD
• Market capitalization: 10.90 billion USD (as of 18 July 2026)
• Sector / Industry: Consumer services / Deathcare
• Index membership: S&P 400 MidCap