Security National Financial Corporation (NASDAQ: SNFCA) reported 2025 results: after-tax earnings from operations rose 10.8% to $32,152,000 on revenues of $344,587,000 (+3.0%).
Net earnings per share were $1.26 (vs. $1.16), and book value per share was $16.54 (vs. $16.16). Total 2025 pre-tax earnings were $41,410,000 (+10.8%). The Life segment’s 2024 results were restated up ~$2 million for LDTI implementation. An earnings call is scheduled for March 17, 2026, 1PM MST.
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Positive
After-tax earnings +10.8% to $32.152M for 2025
Total pre-tax earnings +10.8% to $41.41M for 2025
Mortgage Q4 net income improved ~74% versus prior-year Q4
Negative
Mortgage segment reported a 2025 pre-tax loss of $4.761M
News Market Reaction – SNFCA
+4.12%3.2x vol
2 alerts
+4.12%Session close to close
$239.32MMarket Cap
3.2xRel. Volume
In the Mar 17 session, SNFCA gained 4.12%, reflecting a moderate positive market reaction.
Our momentum scanner triggered 2 alerts that day, indicating moderate trading interest and price volatility.
Trading volume was very high at 3.2x the daily average, suggesting strong buying interest.
This announcement reports record 2025 after-tax earnings of $32.15M, modest revenue growth to $344.5...
Analysis
This announcement reports record 2025 after-tax earnings of $32.15M, modest revenue growth to $344.59M, higher EPS of $1.26, and book value per share rising to $16.54. The Life Insurance segment led full-year profit growth, while Mortgage losses narrowed and Cemeteries/Mortuaries delivered strong margins. Historical earnings releases in 2025 showed earlier softness, so investors may watch segment trends, investment income, and future quarterly updates to gauge whether this stronger annual performance can be maintained.
Key Figures
After-tax earnings 2025:$32,152,000Total revenue 2025:$344,587,000Net EPS 2025:$1.26 per share+5 more
8 metrics
After-tax earnings 2025$32,152,000Twelve months ended Dec 31, 2025 vs $29,119,000 in 2024
Total revenue 2025$344,587,000Twelve months ended Dec 31, 2025 vs $334,523,000 in 2024
Net EPS 2025$1.26 per shareTwelve months ended Dec 31, 2025 vs $1.16 prior year
Book value per share$16.54As of Dec 31, 2025 vs $16.16 as of Dec 31, 2024
Life Insurance revenue 2025$201,269,000Full-year 2025 Life Insurance segment revenue
Life Insurance EBT 2025$37,352,000Full-year 2025 earnings before taxes, Life Insurance segment
Cemeteries/Mortuaries EBT 2025$8,819,000Full-year 2025 earnings before taxes, Cemeteries/Mortuaries
Class A equivalent shares24,815,294 sharesClass A equivalent shares outstanding as of Dec 31, 2025
Announced Q1 2025 earnings call and segment review schedule.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Pattern Detected
Earnings-related headlines have mostly seen price moves that align with the news tone, with one notable divergence where negative quarterly results coincided with a positive price reaction.
Recent Company History
Across 2025, Security National reported several earnings updates showing pressured quarterly results but steadily improving balance sheet metrics. Q1–Q3 releases highlighted declining net earnings versus 2024, mixed segment performance, and lower ROE versus long-term averages, yet book value per share trended higher. The current 2025 annual release contrasts with earlier softness by delivering record after-tax earnings of $32.15M, higher revenues of $344.59M, stronger Life Insurance segment profits, and higher book value per share, marking a more constructive end to the year.
Key Terms
long duration targeted improvements, ldti, ebitda, return on total assets, +1 more
5 terms
long duration targeted improvementsregulatory
"implementation of ASU 2018-12 “Long Duration Targeted Improvements” (LDTI)"
Long duration targeted improvements are deliberate changes or upgrades aimed at specific parts of a business, product, or process that are intended to deliver benefits over a long period rather than just short-term fixes. For investors, they matter because they signal management is focused on durable gains—like steady cost savings, sustained revenue growth, or longer product lifecycles—which can make future earnings more predictable and company value more stable, similar to investing in a longer-lasting home repair rather than frequent quick patches.
ldtiregulatory
"ASU 2018-12 “Long Duration Targeted Improvements” (LDTI) our Life Segment’s 2024 full year results"
LDTI stands for Long-Duration Targeted Improvements, a set of accounting rule changes that overhaul how insurers record and report long-term insurance contracts on their financial statements. It matters to investors because the rules change how revenue, profits and reserves are measured and disclosed—similar to switching from one measuring cup to a more precise one—so it can alter reported earnings, liabilities and the apparent financial health of insurers, affecting valuation and risk assessment.
ebitdafinancial
"Our Cemetery and Mortuary Segment delivered a nearly 30% EBITDA margin for the year"
EBITDA stands for earnings before interest, taxes, depreciation, and amortization. It measures a company's profitability by focusing on the money it makes from its core operations, ignoring expenses like taxes and accounting adjustments. Investors use EBITDA to compare how well different companies are performing financially, as it provides a clearer picture of operational success without the influence of financial structure or accounting choices.
"anytime a financial services company achieves a 2% return on total assets is “very good”"
Return on total assets measures how much profit a company generates from all of its resources by comparing profit after expenses to the total value of assets on the balance sheet. Investors use it to judge efficiency—like checking how well a bakery turns ovens and equipment into sales—so a higher number usually means the company is getting more earnings from its assets, while a lower number can signal underused or costly assets.
forward-looking statementsregulatory
"may be viewed as forward-looking statements that could predict future events or outcomes"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
SALT LAKE CITY, March 16, 2026 (GLOBE NEWSWIRE) -- Security National Financial Corporation (SNFC) (NASDAQ symbol "SNFCA") announced financial results for the year ended December 31, 2025.
For the twelve months ended December 31, 2025, SNFC’s after-tax earnings from operations increased 10.8% from $29,119,000 in 2024 to $32,152,000 in 2025, on a 3% increase in revenues to $344,587,000.
Scott M. Quist, Chairman of the Board, President, and Chief Executive Officer of SNFC, said, “Absent the pandemic related years of 2020 and 2021, this was our best net profit year ever, beating 2024 by nearly 11%, which is significant realizing that 2024 was our previous best year ever, again absent 2020 and 2021. 2025 was a very good year for our Company and I believe the 4th quarter in particular delivered “excellent” results. Regarding the Life Segment I would urge your awareness that pursuant to the implementation of ASU 2018-12 “Long Duration Targeted Improvements” (LDTI) our Life Segment’s 2024 full year results were restated upwards by approximately $2MM.
“Regarding my use of the phrase “very good” in describing our year end results, I think anytime a financial services company achieves a 2% return on total assets is “very good”. Our entire team, Mortgage, Life Insurance, and Cemetery and Mortuary joined together to produce that result. Going to my use of the word “excellent” describing quarterly results, I think anytime we achieve a nearly 200% increase over the prior year’s Q4 is “excellent”. Turning now to our specific business segment results, 2025 is our Insurance Segment’s best operational year ever. We did, and are continuing to, expend considerable strategic thought, effort, and expense to improve our sales systems both from the agent and managerial views and our end customer’s view in order to grow our top-line revenue. We have brought on, and continue to bring on, new capable talent and have continued to refine and improve our sales support and commission systems. Our Cemetery and Mortuary Segment delivered a nearly 30% EBITDA margin for the year, which is “very good” especially considering the increasing cremation rates. Here we have also brought on new sales talent and continue to spend considerable resources refining our sales support systems to grow top-line revenue. We believe revenue will grow as we drive the implementation of our initiatives. Our Mortgage Segment had a fabulous Q4 delivering a 74% net income improvement on a 4.6% revenue decrease. A tremendous amount of thought, work, accountability, and effort has gone into streamlining and rationalizing our corporate, regional, and branch operations as well as expanding our sales offerings both in terms of capability and personnel. The improvement and momentum are significant. It is essential to understand the integrated nature of our Company. A major reason for the Life Segment’s continued improvement is its investment income, much of which is related to our Mortgage Segment’s operations. While I agree with my father’s saying that “every tub sits on its own bottom” and we need to measure our three business segments’ financial results in those terms, nevertheless we are designed such that each segment synergistically supports its siblings. We as a Company would not have had our best year without the significant push from each of our business segments.”
SNFC has three business segments. The following table shows the revenues and earnings before taxes for the three months ended December 31, 2025, as compared to 2024, for each business segment:
Revenues
Earnings before Taxes
2025
2024
2025
2024
Life Insurance
$
49,668,000
$
45,469,000
9.2
%
$
8,737,000
$
6,673,000
30.9
%
Cemeteries/Mortuaries
$
8,130,000
$
7,414,000
9.7
%
$
1,742,000
$
877,000
98.6
%
Mortgages
$
25,183,000
$
26,387,000
(4.6
%)
$
(1,161,000
)
$
(4,400,000
)
73.6
%
Total
$
82,981,000
$
79,270,000
4.7
%
$
9,318,000
$
3,150,000
195.8
%
The following table shows the revenues and earnings before taxes for the twelve months ended December 31, 2025, as compared to 2024, for each business segment:
Revenues
Earnings before Taxes
2025
2024
2025
2024
Life Insurance
$
201,269,000
$
191,530,000
5.1
%
$
37,352,000
$
34,726,000
7.6
%
Cemeteries/Mortuaries
$
33,317,000
$
33,022,000
0.9
%
$
8,819,000
$
8,861,000
(0.5
%)
Mortgages
$
110,001,000
$
109,971,000
0.0
%
$
(4,761,000
)
$
(6,213,000
)
23.4
%
Total
$
344,587,000
$
334,523,000
3.0
%
$
41,410,000
$
37,374,000
10.8
%
Net earnings per common share was $1.26 for the twelve months ended December 31, 2025, compared to net earnings of $1.16 per share for the prior year, as adjusted for the effect of annual stock dividends. Book value per common share was $16.54 as of December 31, 2025, compared to $16.16 as of December 31, 2024.
The Company has two classes of common stock outstanding, Class A and Class C. There were 24,815,294 Class A equivalent shares outstanding as of December 31, 2025.
An earnings call will commence at approximately 1PM (MST) on March 17th and will include a review of the Company’s 4th Quarter and 2025 annual results as well as an update from the Company’s three business segments. Shareholders may access the earnings call by clicking the link below:
The earnings call can also be accessed directly from the Company’s website under “Events” on the Investor Relations page.
This press release contains statements that, if not verifiable historical fact, may be viewed as forward-looking statements that could predict future events or outcomes with respect to Security National Financial Corporation and its business. The predictions in the statements will involve risk and uncertainties and, accordingly, actual results may differ significantly from the results discussed or implied in such forward-looking statements.
If there are any questions, please contact Mr. Garrett S. Sill or Mr. Scott Quist at:
Security National Financial Corporation P.O. Box 57250 Salt Lake City, Utah 84157 Phone (801) 264-1060 Fax (801) 265-9882
FAQ
What were Security National Financial (SNFCA) full-year 2025 earnings per share and book value?
EPS for 2025 was $1.26, up from $1.16 the prior year. According to the company, book value per share rose to $16.54 from $16.16 as of December 31, 2025, reflecting retained earnings and annual results.
How did SNFCA revenue and net earnings change in 2025 compared to 2024?
Total revenue for 2025 was $344.587M, a 3.0% increase year-over-year. According to the company, after-tax earnings from operations increased 10.8% to $32.152M, driven by segment improvements.
Which SNFCA business segments drove 2025 performance and what were key segment results?
The Life segment led results, with 2025 revenue of $201.269M and improved pre-tax earnings. According to the company, Cemetery and Mortgage operations also contributed, with Mortgage Q4 showing a significant net income rebound.
What did SNFCA say about the LDTI restatement affecting 2024 results?
The company reported a 2024 upward restatement of approximately $2 million due to ASU 2018-12 LDTI implementation. According to the company, this accounting change adjusted Life segment full-year 2024 results.
How can investors join Security National Financial (SNFCA) earnings call for the Q4 and 2025 results?
The earnings call is scheduled for March 17, 2026 at 1PM MST and is accessible via the investor relations events page. According to the company, the webcast link is available on its investor website.
