Logo

MATW

Matthews International Corporation

MATW

Matthews International Corporation • NASDAQ
$24.54 ▼ -1.52% (-0.38)
Market Cap $755.73 M
52w High $32.00
52w Low $18.50
Dividend Yield 1.00%
P/E -31.06
Volume 120.00K
Outstanding Shares 30.80M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2025 $318.841M ▼ $121.522M ▲ $-27.47M ▼ -8.616% ▼ $-0.88 ▼ $3.815M ▼
Q3-2025 $349.377M ▼ $99.494M ▼ $15.387M ▲ 4.404% ▲ $0.5 ▲ $90.79M ▲
Q2-2025 $427.629M ▲ $131.084M ▲ $-8.916M ▼ -2.085% ▼ $-0.29 ▼ $22.817M ▼
Q1-2025 $401.842M ▼ $107.11M ▼ $-3.472M ▲ -0.864% ▲ $-0.11 ▲ $32.828M ▲
Q4-2024 $446.695M $125.756M $-68.161M -15.259% $-2.22 $-29.425M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2025 $32.433M ▲ $1.694B ▼ $1.214B ▲ $480.942M ▼
Q3-2025 $20.383M ▼ $1.706B ▼ $1.192B ▼ $513.832M ▲
Q2-2025 $40.246M ▲ $1.827B ▲ $1.419B ▲ $408.192M ▼
Q1-2025 $33.513M ▼ $1.792B ▼ $1.378B ▼ $413.408M ▼
Q4-2024 $40.816M $1.835B $1.398B $437.158M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2025 $-27.47M ▼ $10.331M ▲ $6.341M ▼ $-4.83M ▲ $12.05M ▲ $902.999K ▲
Q3-2025 $15.387M ▲ $-15.2M ▼ $157.144M ▲ $-172.991M ▼ $-19.863M ▼ $-23.319M ▼
Q2-2025 $-8.916M ▼ $6.328M ▲ $-5.331M ▼ $15.114M ▼ $6.733M ▲ $-2.411M ▲
Q1-2025 $-3.472M ▲ $-25.009M ▼ $1.436M ▲ $18.437M ▲ $-7.303M ▼ $-34.541M ▼
Q4-2024 $-68.161M $35.946M $-8.337M $-30.947M $-1.929M $23.908M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Industrial Technologies
Industrial Technologies
 $110.00M ▲$80.00M ▼$80.00M ▲$90.00M ▲
Memorialization
Memorialization
 $200.00M ▲$190.00M ▼$210.00M ▲$200.00M ▼
SGK Brand Solutions
SGK Brand Solutions
 $0 ▲$130.00M ▲$140.00M ▲$60.00M ▼

Five-Year Company Overview

Income Statement

Income Statement Revenue has been broadly stable in recent years, inching up and then easing slightly, which suggests a mature base business rather than a fast‑growing one. Profitability, however, has been choppy: operating results swing between small profits and small losses, and net income has dipped into the red in two of the last four years. This pattern points to a company in transition, with legacy businesses throwing off gross profit but restructuring, growth investments, and possibly higher costs weighing on the bottom line. Earnings quality looks uneven, and the trend in profit is weaker than the trend in sales, which is a key watch point.

Balance Sheet

Balance Sheet The balance sheet shows a fairly steady asset base, but with meaningful use of debt and a relatively modest equity cushion. Cash on hand appears limited compared with the size of the business, so Matthews relies heavily on ongoing cash generation and borrowing capacity. While there is no sign of a collapsing balance sheet, leverage is clearly an important factor: the company does not have a lot of room for major missteps or prolonged downturns without feeling pressure. Any further strategic shifts or acquisitions will need to be managed carefully against this backdrop.

Cash Flow

Cash Flow Cash generation is a relative bright spot compared with reported earnings. The business has produced consistent positive cash from operations and positive free cash flow every year, though the amounts have trended down. Capital spending has been steady rather than aggressive, indicating disciplined investment rather than a “spend at all costs” growth push. Overall, Matthews is still a cash‑generative company, but the cushion is not large, so funding innovation, servicing debt, and supporting any shareholder returns all have to come from a modest pool of excess cash.

Competitive Edge

Competitive Edge Matthews holds very strong positions in its memorialization markets, often ranked at or near the top across key product categories. These businesses enjoy high barriers to entry, sensitive customer relationships, and a large installed base, which together create a durable, if low‑growth, franchise. In contrast, its industrial technologies arm competes in more dynamic and crowded arenas—battery manufacturing equipment, product marking, and warehouse automation—where the company is a specialized player with meaningful technology but faces larger, well‑funded rivals. The overall profile is a blend of a solid, entrenched core and higher‑risk, higher‑potential niches that must be scaled successfully to move the needle.

Innovation and R&D

Innovation and R&D Innovation is clearly a strategic focus. Matthews is pushing proprietary dry battery electrode technology, advanced calendering systems, and turnkey production lines for energy storage—backed by patents and recent legal wins that validate its intellectual property. It is also rolling out new inkjet platforms, control software like MPERIA, and warehouse automation systems that integrate software, robotics, and analytics. These efforts position the company in attractive secular themes such as electrification, e‑commerce logistics, and digital product identification. The flip side is execution risk: commercial adoption cycles are long, customer projects are complex, and the required R&D and engineering spend is a drag on near‑term margins. The payoff is uncertain in timing and scale, even if the technology looks promising.

Summary

Matthews International today is a mix of a steady, cash‑producing memorialization business and an ambitious set of industrial technology bets. The numbers reflect that transition: revenue is stable, but profitability has been inconsistent and occasionally negative, even as cash flow remains positive. The balance sheet carries meaningful leverage, which heightens the importance of disciplined capital allocation and successful execution in its newer ventures. On the strategic side, the company appears to have genuine competitive strengths—strong positions in memorialization and differentiated technologies in batteries, marking, and automation—supported by intellectual property and partnerships. The key uncertainty is whether these growth platforms can scale fast and profitably enough to offset the volatility and financial strain visible in recent results.

NEWS

November 20, 2025 · 4:15 PM UTC

MATTHEWS INTERNATIONAL REPORTS RESULTS FOR FOURTH QUARTER AND FISCAL YEAR ENDED SEPTEMBER 30, 2025

Read more

November 19, 2025 · 4:30 PM UTC

Matthews International Increases Quarterly Dividend

Read more

November 19, 2025 · 4:15 PM UTC

Matthews International Announces Board Chair Transition

Read more

November 7, 2025 · 4:15 PM UTC

Matthews International Announces Fourth Quarter and Fiscal Year 2025 Earnings Release and Conference Call

Read more

October 2, 2025 · 1:34 PM UTC

Matthews International Prevails in Federal Court Ruling Affirming Arbitration Award Against Tesla

Read more