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Matthews International Corporation

MATW Industrials Conglomerates

Matthews International Corporation’s revenue for fiscal 2025 (year ended September 2025) was $1.5 billion, down 16.6% from fiscal 2024.

Revenue
−29.6%
EPS
−253.1%
Free cash flow
+73.7%
Total debt
−19.3%

Quarter to June 2026, against a year earlier

19.77 0.55 −2.71%
Market cap
$618.0M
P/E
0.0×
Fwd P/E
−257×
Dividend yield
5.16%
F-score
5/9
Altman Z
1.99
Beneish M
−2.86
Dividend safety
20/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.32
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — 6 1 — —
Sell — — — — — — — — — — — —
Insider Ownership 9.38%

Capital & Financial Ratios $m

Size
Market Cap 618.02
Revenue ttm 1,108.24
Net income ttm (29.36)
Free cash flow ttm (81.97)
Net debt Q 529.66
Valuation
P/E 0.00
Forward P/E (257.00) (negative: loss-making)
Price / sales 0.56
Forward P/S Powerpack
Price / FCF 0.00
Price / book 1.28
Financial health
Current ratio Q 1.76 (at or above 1.5: strong)
Debt / equity Q 1.17
Interest coverage Q (1.27)
Growth
Revenue growth Q −29.58% (below 0%: shrinking)
Operating income growth Q −117.58% (below 0%: shrinking)
EPS, this year −59.26% (below 0%: weak)
EPS, next year A +52.60% (at or above 15%: strong)
Revenue, next year A −30.43% (below 0%: weak)
EPS, past 5 yrs —
EPS, next 5 yrs A −5.45% (below 0%: weak)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.0×, against a ten-year median of 1.1×; over the ten years it ranged from 0.8× in 2024 to 2.2× in 2016.
P/S against its own 10 years 31.50%
10-year low 10-year high
P/B against its own 10 years 9.86%
10-year low 10-year high
EV/Sales against its own 10 years 36.30%
10-year low 10-year high

Dividends

Yield
5.16%
Annual rate
1.02
Payout ratio
—
Growth, 2018–26
−0.08%/yr
  1. 0.77 ’18
  2. 0.81 ’19 +5
  3. 0.85 ’20 +4
  4. 0.87 ’21 +2
  5. 0.89 ’22 +3
  6. 0.93 ’23 +4
  7. 0.97 ’24 +4
  8. 1.01 ’25 +4
  9. 0.77 ’26 −24
paid change on the year, %

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 42 41 32 38
Receivables 208 206 133 106
Inventory 260 238 203 203
Other 138 148 152 138
648 633 520 484
2023 2024 2025 Q'26
Payables 114 108 98 92
ST’ Debt 4 7 7 8
Other 159 177 164 108
395 435 350 276

Compound Annual Growth %

10y 5y 3y
Sales 0.49% (0.01%) (5.28%)
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value (4.14%) (4.69%) (0.42%)

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.41 Actual 0.06

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.22 0.50 Beat by 0.28
Q1 FY26 0.05 −0.19 Miss by 0.24
Q2 FY26 0.17 0.37 Beat by 0.20
Q3 FY26 0.41 0.06 Miss by 0.35
Q4 FY26 0.28 — Reports 19 November 2026

EPS $

Dec Mar Jun Sep Year
’26 1.39 (0.69) (0.75) — —
’25 (0.11) (0.29) 0.49 (0.88) (0.79)
’24 (0.07) 0.29 0.06 (2.21) (1.93)
’23 0.12 0.29 0.28 0.56 1.26
’22 (0.62) (0.06) 0.09 (2.63) (3.18)
’21 (0.06) 0.16 0.10 (0.12) 0.09
’20 (0.34) (2.77) 0.07 0.24 (2.79)
Fiscal quarters ending in the months shown.

Revenue $m

Dec Mar Jun Sep Year
’26 285 259 246 — —
’25 402 428 349 319 1,498
’24 450 471 428 447 1,796
’23 449 480 472 480 1,881
’22 439 445 422 457 1,762
’21 387 417 428 439 1,671
’20 365 375 359 399 1,498
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Dec Mar Jun Sep Year
’26 (52) (15) (2) — —
’25 (25) 6 (15) 10 (24)
’24 (27) 57 13 36 79
’23 (36) 81 32 3 80
’22 (27) 100 12 42 127
’21 35 57 15 56 163
’20 5 61 58 57 180
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Dec Mar Jun Sep Year
’26 (57) (19) (6) — —
’25 (35) (2) (23) 1 (59)
’24 (41) 48 4 24 34
’23 (49) 70 19 (11) 29
’22 (40) 84 (1) 22 66
’21 28 49 6 49 131
’20 (4) 51 51 47 146
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.7
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to September

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 1,480 1,516 1,603 1,537 1,498 1,671 1,762 1,881 1,796 1,498 1,108 +0.1% 1,042 1,025 1,042 (11.4%)
Gross margin, % 37.59 37.46 36.46 35.29 33.22 32.43 29.63 30.71 29.50 33.89 36.61 (3.7) pt
EBT 95 96 98 (38) (106) 9 (104) 41 (70) 16 8 (17.9%)
EBT margin, % 6.43 6.35 6.11 (2.48) (7.10) 0.55 (5.91) 2.18 (3.88) 1.08 0.68 (5.3) pt
Net income 66 74 107 (39) (88) 3 (100) 39 (60) (24) (29) n/m
Per share, $
Per share, $ Revenue 45.35 47.01 50.60 48.93 48.04 52.72 56.19 61.08 58.09 48.16 35.25 +0.7%
Earnings 2.03 2.28 3.37 (1.21) (2.79) 0.09 (3.18) 1.26 (1.93) (0.79) (0.93) n/m
Cash flow 4.30 4.63 4.66 4.17 5.79 5.14 4.04 2.58 2.56 (0.76) (1.88) n/m
Capex (1.28) (1.39) (1.36) (1.20) (1.12) (0.99) (1.95) (1.64) (1.46) (1.15) (0.72) (1.1%)
Free cash flow 3.02 3.24 3.30 2.97 4.67 4.14 2.09 0.94 1.10 (1.91) (2.61) n/m
Book value 21.73 24.51 27.43 22.89 19.60 20.08 15.53 17.06 14.14 15.47 15.46 (3.7%)
Shares, m 33 32 32 31 31 32 31 31 31 31 31 (0.5%)
Valuation, ×
Valuation, × P/E 29.78 28.18 14.51 0.00 0.00 433.63 0.00 30.90 0.00 0.00 0.00 53.7
P/S 1.34 1.35 0.97 0.72 0.47 0.66 0.40 0.63 0.40 0.50 0.56 0.7
P/B 2.80 2.59 1.78 1.55 1.14 1.73 1.44 2.26 1.64 1.57 1.28 1.8
EV/Sales 1.89 1.91 1.54 1.31 0.99 1.09 0.81 1.03 0.81 0.96 1.04 1.2
EV/FCF 28.40 27.76 23.64 21.60 10.24 13.82 21.82 66.98 42.65 (24.15) (14.04) 23.3
Cash, $m
Cash, $m Operating cash flow 140 149 148 131 180 163 127 80 79 (24) (59) n/m
Capex (42) (45) (43) (38) (35) (32) (61) (51) (45) (36) (23) (1.7%)
Free cash flow 99 104 104 93 146 131 66 29 34 (59) (82) n/m
Balance, $m
Balance, $m Working capital 315 310 329 304 259 270 217 254 198 170 209 (6.6%)
Net debt 817 854 919 905 793 715 727 748 736 678 530 (2.0%)
Shareholders’ equity 709 790 869 719 611 636 487 525 437 481 486 (4.2%)
Returns, %
Returns, % ROA 3.15 3.43 4.67 (1.67) (4.09) 0.14 (5.10) 2.08 (3.21) (1.39) (1.83) (4.5) pt
ROIC 4.87 4.61 4.84 0.40 (2.86) 1.94 (2.26) 4.33 (0.66) 4.07 4.29 (0.8) pt
ROE 9.25 9.92 12.94 (4.78) (13.10) 0.47 (17.76) 7.76 (12.40) (5.33) (5.87) (14.6) pt
People
People Employees 10,300 11,000 11,000 11,000 11,000 11,000 12,000 12,000 11,000 5,500 — (6.7%)
Revenue/emp, $m 0.14 0.14 0.15 0.14 0.14 0.15 0.15 0.16 0.16 0.27 — +7.4%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Sep 2025 · latest quarter Jun 2026

Matthews International Corporation vs peers in Conglomerates (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
DLX Deluxe Corporation $1.3B 16.1× 9.3× +2.53% (above 0%: growing) −62.16% (below 0%: shrinking) +11.71% (above 0%: growing) 51.92% 9.51% Compare
CODI Compass Diversified Holdings $863.0M — (loss-making) — (loss-making) −11.42% (below 0%: shrinking) n/m +150.97% (above 0%: growing) 47.16% 6.83% Compare
FBYD Falcon's Beyond Global, Inc. $821.5M — (loss-making) — +120.40% (above 0%: growing) n/m +130.40% (above 0%: growing) 62.66% (4.66%) Compare
CRESY Cresud S.A.C.I.F. y A. $640.5M 4.9× — +22.29% (above 0%: growing) −57.51% (below 0%: shrinking) −87.57% (below 0%: shrinking) 37.44% 49.66% Compare
MATW Matthews International Corporation $618.0M — (loss-making) — (loss-making) −29.58% (below 0%: shrinking) n/m +73.67% (above 0%: growing) 35.85% (5.37%)
TRC Tejon Ranch Co $453.7M 58.5× 91.0× +88.92% (above 0%: growing) +100.00% (above 0%: growing) +118.12% (above 0%: growing) 0.00% 10.49% Compare
BOC Boston Omaha Corporation $421.2M — (loss-making) — (loss-making) +2.40% (above 0%: growing) n/m +135.51% (above 0%: growing) 44.46% (2.72%) Compare
FIP FTAI Infrastructure Inc. $347.5M — (loss-making) — (loss-making) +52.73% (above 0%: growing) n/m +49.28% (above 0%: growing) 100.00% (24.97%) Compare
NNBR NN, Inc. $250.3M — (loss-making) — (loss-making) +26.20% (above 0%: growing) n/m −114.17% (below 0%: shrinking) 13.94% (2.53%) Compare
Median of peers $547.1M 16.1× — +24.25% −57.51% +83.70% 45.81% 2.15%

All 29 Conglomerates stocks →

Pay and ownership Proxy statement filed 20 January 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 5.70m 7.81m 126.26
2024 5.81m 544.84k 115.83
2023 6.47m 13.58m 188.13
2022 6.05m 1.75m 105.71
2021 6.73m 11.44m 159.12

Ownership

Directors and executive officers, together 4.70%
BlackRock, Inc. 14.10%
The Vanguard Group, Inc. 11.50%
Ameriprise Financial, Inc. 5.40%
GAMCO Entities One Corporate Center Rye, New York 5.00%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Matthews International Corporation (MATW) Latest News

28 Oct

Impact 2 · · Zacks

1 Oct

Impact 4 · · PR Newswire

28 Sep

Impact 3 · · StockStory

14 Sep

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7 Sep

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4 Sep

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21 Aug

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11 Aug

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10 Aug

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7 Aug

Impact 3 · · MarketBeat
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6 Aug

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4 Aug

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14 Jul

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8 Jul

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29 Jun

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19 May

Impact 2 · · StockStory
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11 May

Impact 3 · · Simply Wall St.

4 May

Impact 3 · · The Motley Fool

3 May

Impact 4 · · StockStory

2 May

Impact 4 · · GuruFocus.com

1 May

Impact 4 · · MarketBeat
Impact 4 · · The Motley Fool transcript
Impact 3 · · Moby

30 Apr

Impact 4 · · Zacks
Impact 4 · · StockStory
Impact 4 ·
stockrow.com/MATW · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com