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MTRN

Materion Corporation

MTRN

Materion Corporation • NYSE
$122.19 ▲ 1.16% (+1.40)
Market Cap $2.53 B
52w High $135.33
52w Low $69.10
Dividend Yield 0.56%
P/E 131.39
Volume 68.51K
Outstanding Shares 20.73M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $438.432M ▲ $44.804M ▼ $25.412M ▲ 5.796% ▼ $1.23 ▲ $53.952M ▼
Q2-2025 $431.658M ▲ $45.839M ▼ $25.14M ▲ 5.824% ▲ $1.21 ▲ $54.575M ▲
Q1-2025 $420.33M ▼ $48.984M ▼ $17.698M ▲ 4.211% ▲ $0.85 ▲ $46.173M ▼
Q4-2024 $436.871M ▲ $131.323M ▲ $-48.851M ▼ -11.182% ▼ $-2.35 ▼ $57.103M ▲
Q3-2024 $436.715M $49.679M $22.294M 5.105% $1.07 $52.706M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $16.411M ▲ $1.793B ▲ $858.594M ▲ $934.579M ▲
Q2-2025 $12.591M ▼ $1.741B ▼ $830.562M ▼ $910.645M ▲
Q1-2025 $15.634M ▼ $1.752B ▲ $864.428M ▲ $887.929M ▲
Q4-2024 $16.713M ▼ $1.698B ▼ $828.751M ▼ $868.881M ▼
Q3-2024 $17.874M $1.857B $925.123M $931.895M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $25.412M ▲ $18.282M ▼ $-42.349M ▼ $27.96M ▲ $3.82M ▲ $-5.233M ▼
Q2-2025 $25.14M ▲ $47.084M ▲ $-14.174M ▲ $-36.999M ▼ $-3.043M ▼ $32.91M ▲
Q1-2025 $17.698M ▲ $15.502M ▼ $-20.738M ▼ $3.478M ▲ $-1.079M ▲ $-5.502M ▼
Q4-2024 $-48.851M ▼ $76.253M ▲ $-19.06M ▼ $-57.112M ▼ $-1.161M ▼ $56.551M ▲
Q3-2024 $22.294M $5.087M $-12.285M $6.726M $776K $-7.232M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Aerospace and Defense
Aerospace and Defense
 $120.00M ▲$50.00M ▼$50.00M ▲$50.00M ▲
Automotive Electronics
Automotive Electronics
 $40.00M ▲$20.00M ▼$20.00M ▲$20.00M ▲
Consumer Electronics
Consumer Electronics
 $180.00M ▲$50.00M ▼$60.00M ▲$50.00M ▼
Energy
Energy
 $50.00M ▲$40.00M ▼$30.00M ▼$30.00M ▲
Life Sciences
Life Sciences
 $0 ▲$0 ▲$10.00M ▲$10.00M ▲
Other End Market
Other End Market
 $0 ▲$20.00M ▲$20.00M ▲$30.00M ▲
Semiconductor
Semiconductor
 $360.00M ▲$190.00M ▼$190.00M ▲$210.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Materion’s sales have grown meaningfully from early in the period and then leveled off in the last few years, suggesting the company has moved from a strong growth phase into more of a consolidation phase. Profitability improved steadily through 2023 as the business scaled, but 2024 shows a clear step down in earnings, even though sales held roughly steady. That pattern usually points to margin pressure, one‑time costs, or a less favorable mix of business rather than a collapse in demand. EBITDA remains solidly positive, which indicates the core operations are still generating healthy underlying profit, but the sharp drop in net income and earnings per share in the latest year signals increased volatility and some execution or cost challenges that deserve attention.

Balance Sheet

Balance Sheet The balance sheet has expanded over time, with total assets and shareholder equity both rising, which is often consistent with a company investing to support a larger and more complex business. Debt has increased compared with earlier years and now represents a meaningful portion of the capital structure, reflecting a shift toward greater leverage to fund growth and acquisitions. Cash on hand is quite modest, so Materion likely relies heavily on ongoing cash generation and credit facilities rather than large cash reserves. Overall, the company appears to have a solid equity base supporting its operations, but the higher debt load and low cash cushion mean careful balance sheet management is important, especially in a downturn or if earnings remain pressured.

Cash Flow

Cash Flow Materion’s operations have consistently produced positive cash flow, which is a key strength and indicates that the business model is fundamentally cash‑generative. However, the company spends heavily on capital investments, so free cash flow after these investments is relatively thin and somewhat choppy from year to year. This pattern suggests a company that is prioritizing capacity, technology, and growth projects over near‑term cash accumulation. As long as those investments translate into future profit and cash flow, this is a reasonable profile for an advanced materials company, but it does leave less room for error if profitability weakens.

Competitive Edge

Competitive Edge Competitively, Materion occupies a rare position in the advanced materials landscape. Its near‑unique role as the only fully integrated beryllium producer, combined with long-standing know‑how in copper‑beryllium alloys, advanced ceramics, and optical coatings, gives it a moat that is difficult for new entrants to cross. The company is deeply embedded in demanding end markets—semiconductors, aerospace and defense, automotive electronics, and high‑end optics—where switching suppliers is risky and costly for customers. Materion’s close engineering partnerships, custom solutions, and heavy qualification requirements in regulated industries create sticky relationships and high barriers to entry, though they also mean the business is tied to the investment cycles and budgets of a relatively concentrated set of sophisticated customers.

Innovation and R&D

Innovation and R&D Innovation is at the core of Materion’s identity. The company doesn’t just sell metals and powders; it designs tailored materials, coatings, and alloys that often become mission‑critical components in customers’ products. Its R&D and technical teams are focused on high‑growth areas like electric vehicles, advanced semiconductors and AI hardware, precision optics for sensors, high‑power electronics, and even early‑stage opportunities like fusion energy and additive manufacturing. This focus on specialty, engineered solutions rather than commodity products positions Materion to benefit from long‑term technology trends, while its proprietary formulations, process know‑how, and vertical integration in beryllium underpin a durable technology edge.

Summary

Materion looks like a specialized, technically strong materials company that has successfully built a differentiated niche serving some of the most demanding, high‑performance industries in the world. Financially, the story shows steady growth and improving profitability up to 2023, followed by a notable setback in earnings in 2024 despite stable sales, which raises questions about recent cost structure, mix, or one‑off items. The balance sheet is larger and more leveraged than a few years ago, with solid equity support but limited cash and a greater dependence on continued cash generation. Cash flows from operations are consistently positive, but significant ongoing investments keep free cash flow relatively tight, underscoring the company’s growth and innovation focus. Strategically, Materion’s specialized know‑how, near‑monopoly beryllium position, and deep integration into high‑barrier, high‑growth markets provide meaningful competitive advantages, but also tie its fortunes closely to sector cycles and successful execution on its investment and innovation plans.

NEWS

October 29, 2025 · 6:47 AM UTC

Materion Corporation Reports Strong Third Quarter 2025 Financial Results and Affirms Full Year Outlook

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October 28, 2025 · 6:47 AM UTC

Materion Signs Supply Agreement with Commonwealth Fusion Systems to Provide Beryllium Fluoride for Fusion Energy Technology

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October 22, 2025 · 4:30 PM UTC

Materion Corporation Declares Quarterly Cash Dividend

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October 20, 2025 · 4:34 PM UTC

Materion Corporation to Announce Third Quarter 2025 Financial Results on October 29

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