Security National Financial Corp (OQ:SNFCA)
Business Focus: Retail & Mortgage Banks
| Sector: Financials | Industry: Banks |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | PO Box 57220 SALT LAKE CITY UT 84157 |
| Tel: | N/A |
| Website: | https://www.securitynational.com |
| IR: | See website |
| Key People | ||
| Scott M. Quist Chairman of the Board, President, Chief Executive Officer | Garrett S. Sill Chief Financial Officer, Treasurer | Adam George Quist Vice President - Memorial Services, General Counsel, Assistant Secretary, Director |
| S. Andrew Quist Vice President, General Counsel, Director | Jason G. Overbaugh Vice President, National Marketing Director of Life Insurance, Director | Stephen Charles Johnson Vice President - Mortgage Operations | Jeffrey R. Stephens Senior General Counsel, Secretary |
| Business Overview |
| Security National Financial Corporation operates in three segments: life insurance, cemetery and mortuary, and mortgages. The life insurance segment is engaged in the business of selling and servicing selected lines of life insurance, annuity products, and accident and health insurance. These products are marketed in 40 states through a commissioned sales force of independent licensed insurance agents. The cemetery and mortuary segment consists of eight mortuaries and five cemeteries in the state of Utah, one cemetery in the state of California, and one cemetery and four mortuaries in the state of New Mexico. It also engages in pre-need selling of funeral, cemetery, mortuary, and cremation services through its cemetery and mortuary locations. The mortgage segment originates and underwrites or otherwise purchases residential and commercial loans for new construction, existing homes, and other real estate projects. The mortgage segment operates through 100 retail offices in 23 states. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Security National Financial Corp revenues decreased 22% to $318.3M. Net income decreased 44% to $14.5M. Revenues reflect Mortgage segment decrease of 47% to $101.9M. Net income also reflects Rental Expense increase of 3% to $5.8M (expense), Cost of goods and services sold-mortuari increase of 2% to $4.8M (expense). |
| Employees: | 1,227 as of Dec 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $131.24M as of Dec 31, 2023 |
| Annual revenue (TTM): | $318.34M as of Dec 31, 2023 |
| EBITDA (TTM): | $46.20M as of Dec 31, 2023 |
| Net annual income (TTM): | $14.50M as of Dec 31, 2023 |
| Free cash flow (TTM): | $49.70M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | N/A |
| Shares outstanding: | 23,020,261 as of Mar 26, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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