Skip to content
The Financial Modeller
Build free
Personal and home services

Funeral home financial model, built free.

A three-statement Excel model for a funeral and cemetery operator, built from your own figures and checked to balance.

  • Free account
  • No card
  • Usually ready within the hour

We use generative AI in parts of our process, so mistakes can occur. Every model should be checked by a person before it is relied on. Read more

The business

Conducts at-need funerals and cremations from a network of funeral homes, sells pre-need funeral plans funded through trusts or insurance, and sells interment rights, memorials and services at cemeteries and crematoria it must maintain in perpetuity.

See the sampleHow the model works

In short

  • 01

    Three linked statements

    Income statement, balance sheet and cash flow, linked in every period.

  • 02

    Valued two ways

    Discounted cash flow and trading multiples, side by side.

  • 03

    Monthly to annual

    Monthly, quarterly, half-yearly or annual periods, for up to 30 years.

  • 04

    Checked every period

    A Checks sheet shows the balance sheet balances and the cash reconciles.

The sample

The sample, as Excel draws it.

Built by the same system and checks as yours, on illustrative figures: every sheet as Excel draws it, or live.

Annual · 10 years · Low detail
Funeral home sample model.xlsx
The Summary sheet of the sample funeral home model

Illustrative figures: the sample describes no real business. The live preview shows values; your model’s Excel file has every formula.

How it works

How the model works for a funeral home.

  1. How it earns revenue3 formulas
    Funerals and average revenue per funeral · All funeral homes
    Funeral revenueFunerals conducted (at need)Average revenue per funeral
    Funerals and average revenue per funeral · All funeral homes
    Deaths in the catchmentCatchment populationCrude death rate (per 1,000 a year)share of the yearDeaths above (below) trend
    Funerals and average revenue per funeral · All funeral homes
    Funerals conducted (at need)Deaths in the catchmentMarket share of deaths in the catchment
  2. What drives its costs3 formulas
    Funeral home costs · All funeral homes
    Funeral direct costsFixed location costsVariable costs per funeral
    Perpetual care funds and maintenance obligations · All cemeteries
    Fund income (drawn to pay for maintenance)Opening fund balanceFund return a year (net of fees)share of the yearContributions due on rights soldFund return a year (net of fees)from net of feesshare of the year
    Perpetual care funds and maintenance obligations · All cemeteries
    Closing fund balanceOpening fund balanceContributions due on rights sold
  3. What it invests in3 formulas
    Corporate fixed assets
    Capital expenditureRevenuefrom statementsCapex as % of revenueAdditional planned capex
    Corporate fixed assets
    DepreciationDepreciation of the opening asset baseDepreciation of new capex
    Corporate fixed assets
    Closing net book valueOpening net book valueCapital expenditureDepreciation
  4. How it is funded3 formulas
    Debt
    RepaymentsScheduled repaymentsPrepayments from an equity raise and the cash sweep
    Debt
    Closing balanceOpening balanceDrawdownsRepayments
    Debt
    Interest expenseOpening balanceAll-in interest rateshare of the year
  5. How profit becomes cash3 formulas
    Cemetery capacity and property inventory · All cemeteries
    Closing property inventoryOpening property inventoryDevelopment spendCost of rights sold (from property inventory)from interment rights, memorials and services
    Cemetery capacity and property inventory · All cemeteries
    Remaining interment capacityClosing developed rightsClosing undeveloped capacity
    Cemetery capacity and property inventory · All cemeteries
    Development spendRights developedDevelopment cost per right
What it covers

20 parts, each one tested.

Every part is a tested building block with its own checks: yours is put together from the ones your business needs.

  • CPI forecastConsensus curve with long-run anchor
  • Operating expensesHeadcount build by function
  • Corporate costsFixed cost base indexed to CPI
  • Working capitalFull working capital
  • Income taxCorporate rate with tax losses
  • Corporate fixed assetsStraight-line over remaining life
  • DebtAmortising term loan
  • Dividends and distributionsPayout of net profit
  • Discounted cash flow valuationDCF on free cash flow to the firm
  • Multiples valuationEV / EBITDA multiple
  • Pre-need funeral contracts and trust fundsInsurance-funded plansPrepaid funeral plans sold ahead of need — the backlog of unfulfilled contracts, the trust or insurance funds that secure them, and their release to revenue when the funeral is performed.
  • Practice and site acquisitionsAcquisitions per year × size × multiple
  • Interest-rate hedgingHedged share at a fixed rate
  • LeasesLease register
  • Interest-rate forecastMarket forward curve
  • Funerals and average revenue per funeralDeaths in the catchment × market shareFunerals conducted by a funeral home from deaths in its market, the service mix, and revenue per funeral including matured pre-need contracts.
  • Funeral home costsFixed location costs plus variable per caseCoffins and urns, direct labour, vehicles, mortuary and crematorium costs of conducting funerals.
  • Interment rights, memorials and servicesMemorials and interment feesInterment rights sold at-need and pre-need, memorials and interment fees, and the cost of the rights sold.
  • Cemetery capacity and property inventoryCapacity and years of lifeRemaining interment capacity, development of new sections, and the land and development cost held as inventory.
  • Perpetual care funds and maintenance obligationsStatutory contribution to a care fundContributions from each interment right to a perpetual care fund, the income that pays for grounds maintenance, and provisions for maintaining the cemetery after it is full.
Key numbers

The numbers it tracks.

  1. 01funerals conducted
  2. 02market share
  3. 03average revenue per funeral
  4. 04cremation rate
  5. 05pre-need backlog
  6. 06trust assets
  7. 07interment rights sold
  8. 08EBITDA margin
Used for

What it is used for.

Related models

More in personal and home services.

Every consumer services model

Looking for a funeral home financial model template? Ours arrives built for your business, with your figures in it.

Running a small business? Read what goes into a small business financial model.

See a finished model, sheet by sheet

The sample is built on illustrative figures and describes no real business. Models are calculations prepared from the information you provide. They are not financial advice and must be independently verified. See our terms.