Security National Financial Corporation (SNFCA) | Investment Case

1. Company Snapshot

1.a. Company Description

Security National Financial Corporation engages in the life insurance, cemetery and mortuary, and mortgage businesses.The company's Life Insurance segment is involved in selling and servicing lines of life insurance, annuity products, and accident and health insurance.It offers various life insurance products, including funeral plans and interest-sensitive life insurance, as well as other traditional life, accident, and health insurance products; annuity products comprising single and flexible premium deferred annuities, and immediate annuities; and diver's accident policies.

This segment also cedes and assumes various risks with various authorized unaffiliated reinsurers pursuant to reinsurance treaties.Its Cemetery and Mortuary segment operates eleven mortuaries and five cemeteries in Utah; one cemetery in California; and four mortuaries and one cemetery in New Mexico.This segment also offers plots, interment vaults, mausoleum crypts, markers, caskets, urns, and other death care related products; and provides professional services of funeral directors, opening and closing of graves, use of chapels and viewing rooms, and use of automobiles and clothing.

The company's Mortgages segment originates and underwrites residential and commercial loans for new construction, existing homes, and real estate projects primarily in Florida, Nevada, Texas, and Utah.It offers residential mortgage lending services to real estate brokers and builders, as well as directly with consumers.Security National Financial Corporation was founded in 1965 and is headquartered in Salt Lake City, Utah.

Show Full description

1.b. Last Insights on SNFCA

Security National Financial Corporation's recent performance was marred by the untimely passing of esteemed Board Member Mia Love, who succumbed to a courageous battle with cancer. This loss has undoubtedly created a void on the board, potentially disrupting the company's strategic direction. Furthermore, the absence of a recent earnings release suggests a lack of visibility into the company's current financial performance, exacerbating the uncertainty surrounding its trajectory.

1.c. Company Highlights

Last Price	8.56
Change Percentage	-2.00%
Open	8.71
Previous Close	8.74
Market Cap ( Millions)	211
Volume	22640
Year High	12.83
Year Low	7.32
M A 50	8.28
M A 200	9.31

FCF Yield	16824.29%
Dividend Yield	0.00%
ROE	8.54%
Debt / Equity	0.00%
Net Debt / EBIDTA	0.00%
Price To Book	0.0
Price Earnings Ratio	0.03
Price To FCF	0.01
Price To sales	0.0
EV / EBITDA	11.81

2. Transcript Summary

Unfortunately this company is not part of our coverage yet. But as part of your subscription plan you can request it by clicking just below and we'll process.

Request Coverage

3. NewsRoom

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

Nov -13

Source: globenewswire.com

Security National Financial Corporation Announces Q3 Earnings Call

Nov -07

Source: globenewswire.com

Security National Financial Corporation to Ring NASDAQ Opening Bell

Sep -23

Source: globenewswire.com

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

Aug -14

Source: globenewswire.com

Security National Financial Corporation Announces Q2 Earnings Call

Aug -04

Source: globenewswire.com

Security National Financial Corporation Announces Stock Dividend

Jun -30

Source: globenewswire.com

Security National Financial Corporation set to join Russell 3000® Index

Jun -27

Source: globenewswire.com

Security National Financial Corporation (NASDAQ: SNFCA) Announces Completion of Lending Transaction on Residential Development Loan in Arrowhead Ranch

May -19

Source: globenewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.50%)

6. Segments

Life Insurance

Expected Growth: 4.5%

Growing demand for life insurance, increasing awareness of financial protection, and rising disposable income are driving the growth of the life insurance market.

Mortgage

Expected Growth: 4.5%

The mortgage market is driven by low interest rates, increasing housing demand, and government-backed loan programs. Security National Financial Corporation's competitive rates and flexible terms position it for growth, with a forecast CAGR of 4.5% from 2023 to 2028.

Cemetery/Mortuary

Expected Growth: 4.5%

Growing demand for funeral and cemetery services, increasing death rates, and consolidation in the industry drive growth. Additionally, the company's diversified product offerings and expanding presence in the market contribute to its growth prospects.

7. Detailed Products

Life Insurance

Security National Financial Corporation offers a range of life insurance products, including term life, whole life, and universal life insurance, providing financial protection for families and loved ones.

Preneed Funeral Insurance

The company provides preneed funeral insurance, allowing individuals to plan and pay for funeral expenses in advance, ensuring that their loved ones are not burdened with these costs.

Mortgage Loans

Security National Financial Corporation offers mortgage loans, enabling individuals and families to purchase or refinance homes, with a range of loan options and competitive rates.

Cemetery and Funeral Home Services

The company operates cemeteries and funeral homes, providing a range of services, including funeral planning, burial, and memorialization, to help families honor their loved ones.

Insurance Agency Services

Security National Financial Corporation offers insurance agency services, providing independent insurance agents with access to a range of insurance products and support.

8. Security National Financial Corporation's Porter Forces

Forces Ranking

Threat Of Substitutes

Security National Financial Corporation operates in a highly competitive industry, and there are many substitutes available to customers. However, the company's strong brand recognition and customer loyalty help to mitigate the threat of substitutes.

Bargaining Power Of Customers

Security National Financial Corporation's customers have some bargaining power due to the availability of substitutes. However, the company's strong relationships with its customers and its ability to offer customized solutions help to reduce the bargaining power of customers.

Bargaining Power Of Suppliers

Security National Financial Corporation relies on a few key suppliers for its products and services. While the company has some bargaining power due to its size and scale, its suppliers also have some bargaining power due to the specialized nature of their products.

Threat Of New Entrants

The funeral industry is highly fragmented, and there are many small, independent funeral homes and cemeteries that could potentially enter the market. Additionally, the low barriers to entry and the availability of financing make it easier for new entrants to join the market.

Intensity Of Rivalry

The funeral industry is highly competitive, with many established players competing for market share. Security National Financial Corporation faces intense competition from other funeral homes and cemeteries, which can lead to pricing pressure and reduced margins.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

	Value
Debt Weight	25.79%
Debt Cost	4.87%
Equity Weight	74.21%
Equity Cost	8.66%
WACC	7.68%
Leverage	34.75%

11. Quality Control: Security National Financial Corporation passed 5 out of 9 key points

Strong Liquidity

Low Debt

Strong Interest Coverage

Healthy Cash Flow

Operating Efficiency

Strong Return On Equity

Consistent Revenue Growth

Consistent Operating Cash Flow Growth

Margin Improvement

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Greystone Housing Impact Investors

A-Score: 6.3/10

Value: 7.0

Growth: 4.2

Quality: 6.4

Yield: 10.0

Momentum: 1.5

Volatility: 8.7

1-Year Total Return ->

Guild

A-Score: 5.5/10

Value: 5.1

Growth: 3.8

Quality: 4.2

Yield: 8.0

Momentum: 8.0

Volatility: 4.0

1-Year Total Return ->

Security National Financial

A-Score: 4.9/10

Value: 8.6

Growth: 5.0

Quality: 6.5

Yield: 0.0

Momentum: 3.0

Volatility: 6.0

1-Year Total Return ->

Velocity Financial

A-Score: 4.9/10

Value: 5.2

Growth: 7.1

Quality: 5.5

Yield: 0.0

Momentum: 4.0

Volatility: 7.3

1-Year Total Return ->

UWM Holdings

A-Score: 4.5/10

Value: 2.2

Growth: 3.0

Quality: 4.2

Yield: 10.0

Momentum: 3.5

Volatility: 4.0

1-Year Total Return ->

loanDepot

A-Score: 3.9/10

Value: 6.4

Growth: 2.3

Quality: 3.9

Yield: 2.0

Momentum: 8.0

Volatility: 1.0

1-Year Total Return ->

Peers Metrics

12.e Scoring ^Insights

12.f DCF ^BETA

Parameters

Short Term Growth

-9.24%

Short term Time

10.0

Long-Term Growth

2.00%

WACC

7.68%

Security National Financial Corporation - US8147853092

1. Company Snapshot

1.a. Company Description

1.b. Last Insights on SNFCA

1.c. Company Highlights

Cheaper

Weak Momentum

Lower Yield

Better Quality

Fairly Valued

Strong Momentum

Lower Quality

Stable Momentum

Average Quality

Medium Volatility

2. Transcript Summary

3. NewsRoom

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.50%)

6. Segments

Life Insurance

Expected Growth: 4.5%

Mortgage

Expected Growth: 4.5%

Cemetery/Mortuary

Expected Growth: 4.5%

7. Detailed Products

Life Insurance

Preneed Funeral Insurance

Mortgage Loans

Cemetery and Funeral Home Services

Insurance Agency Services

8. Security National Financial Corporation's Porter Forces

Forces Ranking

Threat Of Substitutes

Bargaining Power Of Customers

Bargaining Power Of Suppliers

Threat Of New Entrants

Intensity Of Rivalry

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

11. Quality Control: Security National Financial Corporation passed 5 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

8.56$

Current Price

8.56$

Potential

-0.00%

Expected Cash-Flows

12.e Scoring ^Insights

12.f DCF ^BETA