Saturday 17 October 2026
Export MTLS’s income statement to Excel — free account
Materialise NV
MTLS Technology Software Application
Materialise NV’s revenue for fiscal 2025 (year ended December 2025) was $302.8 million, up 4.90% from fiscal 2024. In the quarter to June 2026, revenue grew 5.08%, EPS grew 1,650.0%, free cash flow grew 264.7% and total debt rose 17.8%, each against the same quarter a year earlier. Revenue growth for five consecutive years.
8.00
0.12
−1.48%
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| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | Dec '16 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
36.04 | 28.16 | 51.43 | 0.00 | 95.48 | 0.00 | 493.53 | 284.11 | 0.00 | 0.00 |
Piotroski F-Score |
6 | 7 | 7 | 3 | 8 | 3 | 5 | 6 | 4 | 4 |
P/S ratio |
1.08 | 1.44 | 1.34 | 2.09 | 5.57 | 14.86 | 4.40 | 4.57 | 3.64 | 2.87 |
Altman Z-Score |
2.22 | 2.65 | 2.36 | 2.48 | 4.88 | 8.53 | 3.51 | — | — | 3.43 |
P/FCF ratio |
30.67 | 69.40 | 37.64 | 0.00 | 78.41 | 196.62 | 66.47 | 99.44 | 0.00 | 0.00 |
Altman Z″-Score (non-manufacturers) |
4.03 | 3.54 | 3.37 | 3.02 | 4.20 | 2.08 | 2.87 | — | — | 2.91 |
P/Operating CF |
62.86 | 66.16 | 4,212.37 | (1,858.94) | 135.95 | 170.17 | 148.45 | 81.71 | 71.44 | 79.27 |
Beneish M-Score |
(2.72) | (2.62) | (2.54) | (2.41) | (2.37) | (3.14) | (2.74) | (2.78) | (2.20) | (2.77) |
P/B ratio |
1.13 | 1.55 | 1.45 | 2.11 | 4.92 | 19.03 | 6.06 | 6.21 | 6.70 | 4.16 |
Price to Tangible BV |
1.55 | 2.19 | 2.12 | 3.29 | 6.28 | 31.74 | 9.10 | 9.16 | 17.07 | 5.44 |
EV/Sales |
0.80 | 1.18 | 1.06 | 1.79 | 5.05 | 14.82 | 4.34 | 4.52 | 4.00 | 2.68 |
EV/EBITDA |
6.96 | 12.72 | 10.01 | 21.11 | 31.68 | 167.96 | 32.59 | 37.20 | 42.28 | 36.12 |
EV/Operating CF |
8.43 | 10.03 | 13.50 | 18.66 | 40.17 | 84.24 | 30.08 | 29.49 | 57.71 | 36.06 |
EV/FCF |
22.58 | 56.99 | 29.84 | (182.39) | 71.18 | 196.07 | 65.63 | 98.32 | (26.05) | (73.71) |
Quick Ratio |
2.06 | 1.52 | 1.72 | 1.81 | 2.60 | 1.69 | 2.02 | 2.08 | 1.23 | 1.74 |
Current Ratio |
2.43 | 1.86 | 1.97 | 2.04 | 2.82 | 1.90 | 2.27 | 2.32 | 1.55 | 2.00 |
Net Debt/EBITDA |
(2.49) | (2.77) | (2.62) | (3.45) | (3.22) | (0.47) | (0.41) | (0.42) | 3.81 | (2.61) |
Debt/Assets |
13.67% | 8.47% | 14.23% | 17.73% | 21.89% | 31.89% | 33.80% | 33.85% | 39.81% | 20.88% |
Debt/Equity |
0.23 | 0.14 | 0.24 | 0.32 | 0.39 | 0.79 | 0.83 | 0.78 | 1.22 | 0.43 |
Asset Turnover |
0.67 | 0.67 | 0.64 | 0.53 | 0.56 | 0.51 | 0.58 | 0.68 | 0.72 | 0.75 |
Operating CF/Net income |
3.28 | 2.34 | 3.00 | (10.50) | 1.96 | (4.21) | 17.26 | 9.36 | (5.97) | (2.81) |
Capex/Depreciation |
(0.73) | (1.69) | (0.51) | (1.09) | (0.55) | (0.87) | (0.80) | (1.15) | (2.52) | (1.51) |
Interest Coverage |
1.59 | 3.18 | 1.45 | (0.65) | 2.98 | (0.77) | 1.91 | 1.06 | 0.18 | 0.04 |
| 3.13% | 5.54% | 2.93% | (0.87%) | 7.29% | (5.22%) | 1.15% | 2.88% | (2.14%) | (3.72%) | |
| 1.93% | 3.39% | 1.69% | (0.48%) | 3.60% | (2.13%) | 0.48% | 1.12% | (0.84%) | (1.97%) | |
ROIC |
3.12% | 3.28% | 2.12% | (1.11%) | 6.01% | (2.30%) | 3.33% | 2.55% | 0.42% | 0.12% |
Return on Tangible Assets |
3.09% | 6.48% | 3.41% | (1.04%) | 5.06% | (4.33%) | 0.83% | 1.60% | (1.36%) | (3.25%) |
Average Days of Receivables |
74.92 | 72.59 | 75.10 | 80.30 | 73.80 | 66.11 | 76.05 | 72.89 | 91.09 | 87.61 |
Research and Development Expense of Revenue |
17.22% | 16.64% | 14.87% | 16.19% | 13.09% | 15.90% | 11.87% | 12.14% | 14.00% | 15.45% |
Selling, General and Administrative Expense of Revenue |
38.00% | 37.94% | 37.05% | 41.92% | 40.14% | 43.40% | 43.10% | 42.56% | 45.31% | 49.09% |
Intangible Assets out of Total Assets |
0.16 | 0.19 | 0.19 | 0.20 | 0.12 | 0.16 | 0.14 | 0.14 | 0.20 | 0.12 |
Share Based Compensation of Revenue |
0.10% | 0.11% | 0.02% | (0.06%) | (0.50%) | 0.44% | 0.15% | 0.58% | 0.72% | 0.85% |
Graham Net Nets |
0.20 | 0.11 | 0.14 | 0.07 | 0.07 | (0.01) | (0.02) | (0.01) | (0.12) | 0.04 |
Graham Number |
4.12 | 5.06 | 3.45 | 0.00 | 5.23 | 0.00 | 1.59 | 2.26 | 0.00 | 0.00 |
Earnings Yield |
2.77% | 3.55% | 1.94% | (0.48%) | 1.05% | (0.29%) | 0.20% | 0.35% | (0.32%) | (0.97%) |
Free Cash Flow Yield |
3.26% | 1.44% | 2.66% | (0.47%) | 1.28% | 0.51% | 1.50% | 1.01% | (4.22%) | (1.27%) |
Revenue per Share |
5.13 | 4.89 | 4.69 | 4.14 | 4.29 | 3.65 | 4.16 | 4.38 | 3.41 | 2.68 |
Operating CF per Share |
0.49 | 0.58 | 0.37 | 0.40 | 0.54 | 0.64 | 0.60 | 0.67 | 0.24 | 0.20 |
Capex per Share |
(0.30) | (0.47) | (0.20) | (0.44) | (0.23) | (0.37) | (0.33) | (0.47) | (0.76) | (0.30) |
Free Cash Flow per Share |
0.18 | 0.10 | 0.17 | (0.04) | 0.30 | 0.28 | 0.28 | 0.20 | (0.52) | (0.10) |
Cash per Share |
2.57 | 1.87 | 2.34 | 2.51 | 4.09 | 2.39 | 2.73 | 2.74 | 1.03 | 1.31 |
Shareholders Equity per Share |
4.89 | 4.55 | 4.34 | 4.08 | 4.85 | 2.85 | 3.02 | 3.22 | 1.85 | 1.85 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
4.89 | 4.55 | 4.34 | 4.08 | 4.85 | 2.85 | 3.02 | 3.22 | 1.85 | 1.85 |
Free Cash Flow |
10.69 | 5.99 | 9.87 | (2.40) | 17.26 | 14.71 | 14.58 | 10.03 | (24.76) | (4.60) |
Working Capital |
149.03 | 95.59 | 109.87 | 116.21 | 196.83 | 87.15 | 120.00 | 113.62 | 39.87 | 53.02 |
Capital Expenditures |
(17.96) | (28.05) | (11.95) | (25.88) | (13.32) | (19.53) | (17.23) | (23.41) | (35.93) | (14.00) |
Net Current Asset Value |
66.12 | 46.17 | 50.25 | 35.91 | 91.07 | (38.63) | (17.28) | (9.35) | (68.34) | 14.23 |
EV/EBIT |
23.87 | 33.46 | 48.44 | 0.00 | 84.97 | 0.00 | 121.76 | 161.74 | 659.62 | 2,863.12 |
Capex to Sales |
0.06 | 0.10 | 0.04 | 0.11 | 0.05 | 0.10 | 0.08 | 0.11 | 0.22 | 0.11 |
Price to Operating Income |
32.42 | 40.75 | 61.09 | 0.00 | 93.61 | 0.00 | 123.30 | 163.58 | 600.21 | 3,069.73 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.18 | 0.13 | 0.23 | 0.24 | 0.22 | 0.22 | 0.21 | 0.19 | 0.15 | 0.19 |
Cash ROIC |
2.11% | 1.44% | 2.17% | (0.51%) | 2.81% | 3.69% | 3.34% | 2.38% | (10.18%) | (2.46%) |
Accounts Receivable Turnover |
5.07 | 5.04 | 5.00 | 4.75 | 5.76 | 4.80 | 4.92 | 5.21 | 4.56 | 4.54 |
Accounts Payable Turnover |
5.40 | 5.21 | 5.07 | 4.50 | 4.69 | 4.26 | 4.55 | 4.89 | 4.36 | 4.04 |
Inventory Turnover |
7.36 | 6.81 | 6.79 | 7.18 | 8.32 | 6.80 | 7.49 | 7.81 | 6.51 | 7.04 |
Average Days of Payables |
64.05 | 73.50 | 69.70 | 82.12 | 84.36 | 84.50 | 77.71 | 82.79 | 91.09 | 104.72 |
Days of Inventory on Hand |
47.43 | 53.49 | 56.01 | 56.85 | 47.24 | 47.95 | 53.28 | 44.29 | 67.40 | 61.50 |
Average Receivables |
59.78 | 57.22 | 55.41 | 51.46 | 42.21 | 40.58 | 44.73 | 41.89 | 35.31 | 27.88 |
Average Payables |
24.02 | 24.10 | 23.71 | 24.17 | 22.04 | 20.48 | 21.39 | 19.88 | 16.27 | 12.80 |
Average Inventory |
17.62 | 18.41 | 17.69 | 15.15 | 12.42 | 12.85 | 13.01 | 12.45 | 10.91 | 7.34 |
Average Assets |
452.40 | 429.07 | 431.29 | 461.20 | 431.70 | 382.75 | 380.56 | 319.20 | 223.84 | 169.56 |
Average Common Equity |
278.97 | 262.48 | 248.63 | 258.18 | 213.60 | 155.92 | 160.20 | 124.11 | 87.54 | 89.76 |
Columns are period end dates