The New StoneMor Partners logo

We did not see a press release on such, but we recently noticed that StoneMor Partners has began using a new logo.  From our point of view it is appropriate as the company has had some rough times over the last couple of years with the stock price falling from the mid $20’s to Friday’s close of $4.95 per share.  During the time the stock fell the company also suspended their dividend to stockholders.

Back in June StoneMor Partners took on a new CEO in Joe Redding and the company web-site now says that the company owns 322 cemeteries and 93 funeral homes in 27 states and Puerto Rico.  From our viewpoint, although some of these may be combination facilities, that gives the company a total of 415 properties.

Sometimes for the average funeral director who owns and operates one or two facilities these numbers can get to be almost too large to comprehend.  That’s why we at Funeral Director Daily like to try to break it down for you.

According to E-Trade Financial, StoneMor Partners did a total of $338 million in revenue in 2017.  That $338 million in revenue divided by 415 properties would indicate an average gross revenue per property of about $814,000.  While StoneMor has some large properties, including the Catholic cemeteries in the Philadelphia area, that $814,000 average puts their “average” property on a relatively small scale.

Another way of looking at the company is value.  The stock market has valued StoneMor at $4.95 per share at the present time.  Again, according to E-Trade Financial, there is 38 million outstanding shares of the company stock.  38 million times $4.95 per share would give a value of the company of about $188 million dollars.  Again, a large number, but $188 million divided by 415 properties would give an “average” property value of about $453,000 per property. . . . certainly not a big value in the funeral home and cemetery market nationwide.

Revenues in the company have grown about 9% annually over the past four years from a posted $246 million in 2013 to $338 last year.  The stock has risen from a bottom of $3.43 on July 20 of this year to Friday’s value of $4.95 – a 44% increase.  Maybe that faith in the stock indicates that StoneMor’s problems are behind them.

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