Service Corp International SCI

Service Corporation International is North America’s largest provider of deathcare products and services, operating an extensive network of funeral service locations and cemeteries. The company delivers comprehensive end-of-life solutions, including funeral services, cremation, cemetery property, and related merchandise, across 44 U. S. states, eight Canadian provinces, the District of Columbia, and Puerto Rico. With 1,485 funeral service locations and 500 cemeteries as of December 31, 2025, Service Corporation International serves a broad market under well-known brands such as Dignity Memorial, National Cremation Society, and Neptune Society.

The company generates revenue through the sale of funeral and cemetery merchandise and services, offered both at the time of need and on a preneed basis. Funeral services include professional arrangements, facility use, embalming, cremation, and memorialization, while cemetery operations involve the sale of interment rights, such as burial plots, mausoleum spaces, and cremation niches. Merchandise sales encompass caskets, urns, memorial markers, and ancillary products. Preneed sales, where customers contract for future services, contribute significantly to revenue, with a backlog of $17.0 billion in unfulfilled contracts as of December 31, 2025.

The company operates through the following segments:

• Funeral Services: This segment provides professional funeral arrangements, including the use of facilities, motor vehicles, embalming, cremation, and memorialization services. It also sells funeral merchandise such as caskets, urns, flowers, and stationery products. The segment caters to both at-need and preneed customers, offering tailored packages for burial and cremation services.

• Cemetery Operations: This segment sells cemetery property interment rights, including developed lots, lawn crypts, mausoleum spaces, and cremation niches. It also provides cemetery merchandise and services such as memorial markers, outer burial containers, and interment services. The segment focuses on expanding tiered product offerings to meet diverse customer preferences, including high-end family estates and cremation memorialization options.

Service Corporation International holds an approximate 18% market share in North America’s deathcare industry, making it the largest consolidated provider in the region. The industry is fragmented, with most competitors being locally-owned, independent operations. The company’s competitive advantages include its unparalleled geographic scale, a robust network of combination funeral and cemetery locations, and strong brand recognition under the Dignity Memorial umbrella. These factors enable cost efficiencies, operational synergies, and a consistent customer experience. The company also benefits from high barriers to entry in the cemetery business due to land requirements and regulatory hurdles, further solidifying its market position.

The company serves a diverse customer base, including individuals and families planning end-of-life arrangements, as well as those requiring immediate funeral or cemetery services. Customers span various religious, ethnic, and cultural backgrounds, with the company tailoring its offerings to meet specific traditions and preferences. While specific customer names are not disclosed, Service Corporation International’s preneed sales programs target aging populations, particularly Baby Boomers, who are increasingly preplanning their funeral and cemetery arrangements.