Carriage Services Inc (CSV) is undervalued and H&R Block Inc (HRB) is undervalued.
Against our estimates of intrinsic value, HRB trades at the wider discount: a margin of safety of +58%, against +51% for CSV.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 9.2% (average of 3 methods) values the shares at $64.65; the price of $31.86 is 51% below that value, and 75% of that value comes from beyond year five.
Leak Score 54/100 on 10 of 12 signals
Discounting its cash flows at 7.1% (average of 3 methods) values the shares at $101.68; the price of $42.86 is 58% below that value, and 83% of that value comes from beyond year five.
Leak Score 100/100 on 3 of 12 signals
| Metric | CSV | HRB |
|---|---|---|
| Verdict | Undervalued | Undervalued |
| Price | $31.86 | $42.86 |
| Intrinsic value | $64.65 | $101.68 |
| Margin of safety | +51% | +58% |
| Leak Score | 54/100 (10/12) | 100/100 (3/12) |
| Market cap | $506M | $5.3B |
| Revenue growth, 5 years | 4.9% | 2.9% |
| Operating margin | 23.4% | 23.9% |
| Net margin | 10.6% | 18.4% |
| Return on equity | 17.1% | 707.5% |
| Debt to equity | 1.97 | 17.89 |
| P/E | 11.4x | 7.5x |
| Forward P/E | 8.8x | 6.2x |
| P/B | 1.8x | 45.3x |
| Dividend yield | 1.4% | 4.3% |