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SNFCA

Security National Financial Corporation

SNFCA

Security National Financial Corporation • NASDAQ
$8.64 ▼ -0.69% (-0.06)
Market Cap $213.20 M
52w High $12.94
52w Low $7.32
Dividend Yield 0%
P/E 11.68
Volume 10.31K
Outstanding Shares 24.68M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $2.5M ▲ $-8.719M ▼ $7.815M ▲ 312.6% ▲ $0.32 ▲ $11.827M ▲
Q2-2025 $2.366M ▼ $-7.264M ▼ $6.506M ▲ 274.965% ▲ $0.26 ▲ $10.229M ▲
Q1-2025 $82.74M ▲ $75.916M ▲ $4.338M ▲ 5.243% ▲ $0.18 ▲ $6.69M ▲
Q4-2024 $2.088M ▼ $1.116M ▲ $-41.747K ▼ -1.999% ▼ $-0.002 ▼ $1.564M ▼
Q3-2024 $2.357M $-13.918M $11.831M 501.89% $0.49 $16.887M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $128.42M ▲ $1.563B ▲ $1.198B ▲ $365.382M ▲
Q2-2025 $116.114M ▼ $1.544B ▲ $1.189B ▲ $354.755M ▲
Q1-2025 $178.134M ▼ $1.524B ▲ $1.178B ▲ $346.494M ▲
Q4-2024 $212.141M ▲ $1.49B ▼ $1.151B ▲ $338.782M ▼
Q3-2024 $209.318M $1.495B $1.149B $346.322M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $0 $25.648M ▲ $-2.072M ▲ $-1.34M ▲ $22.236M ▲ $24.941M ▲
Q2-2025 $0 ▼ $-7.681M ▼ $-43.176M ▼ $-2.031M ▼ $-52.889M ▼ $-8.124M ▼
Q1-2025 $4.338M ▲ $9.586M ▼ $-29.267M ▲ $14.87M ▲ $-7.6M ▲ $9.144M ▼
Q4-2024 $-41.747K ▼ $22.426M ▼ $-58.939M ▼ $-2.323M ▼ $-38.836M ▼ $20.531M ▼
Q3-2024 $11.831M $26.79M $2.42M $3.042M $32.253M $26.638M

Revenue by Products

Product Q2-2024Q3-2024Q2-2025Q3-2025
Life Insurance
Life Insurance
 $0 ▲$0 ▲$50.00M ▲$50.00M ▲
Mortgage
Mortgage
 $0 ▲$0 ▲$30.00M ▲$30.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Over the past five years, Security National’s revenues have drifted down from the unusually strong levels seen during the pandemic-era mortgage boom, then stabilized and inched back up in the most recent year. Profitability followed a similar pattern: very strong a few years ago, then squeezed as mortgage volumes normalized and costs weighed more heavily, with a clear but still moderate recovery recently. The company remains consistently profitable, but earnings are now closer to “normal cycle” levels rather than the elevated levels seen at the height of the refinancing wave. Overall, the income statement shows a business that has weathered a tough mortgage environment, preserved profits, and is starting to rebuild margins, but still operates in a more challenging landscape than earlier in the period.

Balance Sheet

Balance Sheet The balance sheet looks conservative and gradually stronger. Total assets have stayed fairly stable, while cash has slowly built up, providing a useful cushion. Debt levels have come down meaningfully from earlier in the period, which reduces financial risk and interest burden. Shareholders’ equity has steadily increased, showing that the company is retaining earnings and growing its book value over time. For a financial company, this combination of modest growth, more cash, and less debt signals a management team that is prioritizing resilience over aggressive expansion.

Cash Flow

Cash Flow Cash generation is a clear bright spot. After a weak year earlier in the period, operating cash flow has been solidly positive for several years in a row, with free cash flow tracking almost one-for-one because capital spending needs are very low. This light investment requirement means most operating cash can be used to strengthen the balance sheet, support growth initiatives, or return value to shareholders if the company chooses. The pattern suggests a business that converts accounting profits into real cash reliably, with relatively little tied up in long-lived assets.

Competitive Edge

Competitive Edge Security National’s edge comes from its unusual mix of businesses: life insurance, funeral and cemetery services, and mortgage lending. The “end-of-life” focus in insurance and funeral services creates a tightly connected ecosystem that can generate stable, recurring business and cross-selling opportunities. That stability can help offset the more volatile, interest-rate-sensitive mortgage segment. Vertical integration—owning funeral homes, cemeteries, and related services—gives the company more control over the customer experience and pricing. At the same time, the company is smaller than many national competitors in both mortgages and insurance, so it must rely on specialization, niche offerings, and strong local relationships rather than sheer scale. Regulatory oversight in both financial and funeral sectors, and the cyclical nature of housing, remain ongoing structural risks.

Innovation and R&D

Innovation and R&D The company’s “R&D” is mostly about process and technology innovation rather than lab-style research. In mortgages, it has invested in a digital platform with fully electronic closings, faster processing, and in-house underwriting to keep more control over quality and speed. In its funeral and life insurance operations, it has built specialized offerings such as insurance assignment funding for funeral homes, a dedicated loyalty sales division, and a funeral concierge service that bundles financial and practical support for families. Being an early mover with mobile apps and digital tools in an otherwise traditional industry gives it some differentiation. Looking ahead, there is room to deepen tech integration—such as more automation, digital memorialization, and smarter customer management—but the company will need to keep investing to stay ahead of larger, tech-enabled rivals in both mortgage and insurance markets.

Summary

Security National Financial comes across as a conservative, niche-focused financial company that has successfully navigated the comedown from an unusually strong mortgage cycle. Earnings are lower than the peak years but remain positive and appear to be recovering. The balance sheet has been steadily de-risked, with more cash, less debt, and rising equity, while cash flows are healthy and not weighed down by heavy capital spending. Competitively, the firm leans on a unique combination of end-of-life insurance, funeral services, and mortgage lending to create stability and cross-segment synergies. Its investments in digital mortgage processing and differentiated funeral-related services show a willingness to innovate within specialized markets. Key things to watch going forward are the path of interest rates and housing activity, the company’s ability to grow its funeral and insurance footprint through targeted deals, and whether it can keep advancing its technology fast enough to stand out against much larger financial and tech-driven players.

NEWS

November 13, 2025 · 3:01 PM UTC

Security National Financial Corporation Reports Financial Results for the Quarter Ended September 30, 2025

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November 7, 2025 · 11:00 AM UTC

Security National Financial Corporation Announces Q3 Earnings Call

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September 23, 2025 · 10:12 AM UTC

Security National Financial Corporation to Ring NASDAQ Opening Bell

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