Saturday 17 October 2026 Export MTLS’s income statement to Excel — free account

Materialise NV

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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Market cap: $475.5M
P/E: 29.6×
Fwd P/E: 27.7×
Dividend yield: —
F-score: 6/9
Altman Z: 2.22
Beneish M: −2.72
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 475.51

Revenue 311.07

Net Income 15.10

Free Cash Flow 20.86

Net Debt (93.27)

Current Ratio 2.41

Debt/Equity 0.21

P/E ratio 29.63

Fwd P/E 27.70

P/S ratio 1.50

P/B ratio 1.57

Past 5Y EPS Growth —

This Y EPS Growth 44.19%

Next Y EPS Growth 34.54%

Next Y revenue growth 3.27%

Next 5Y EPS Growth 44.07%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 14.23%

10-year low 10-year high

P/S against its own 10 years 26.83%

10-year low 10-year high

P/B against its own 10 years 26.35%

10-year low 10-year high

EV/Sales against its own 10 years 26.43%

10-year low 10-year high

EV/FCF against its own 10 years 3.32%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2017	Powerpack

special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	138	111	152	155
Receivables	57	57	62	65
Inventory	18	18	17	20
Other	10	20	22	17
	223	206	253	257

	2023	2024	2025	Q'26
Payables	23	25	23	23
ST’ Debt	25	11	9	8
Other	17	20	19	19
	114	111	104	107

Compound Annual Growth %

	10y	5y	3y
Sales	10.34%	9.23%	7.39%
Cash Flow	27.06%	(3.51%)	6.85%
Earnings	0.00%	0.00%	0.00%
Book Value	12.12%	13.71%	6.22%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	76	80	—	—	—
’25	72	76	78	77	303
’24	69	74	77	69	289
’23	71	70	64	72	277
’22	59	60	57	69	244
’21	53	60	60	69	243
’20	51	43	48	53	195

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	8	9	—	—	—
’25	10	1	12	5	29
’24	11	9	8	6	34
’23	12	1	9	0	22
’22	12	9	3	0	23
’21	5	11	5	10	31
’20	8	8	1	17	34

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	6	8	—	—	—
’25	8	(5)	6	1	11
’24	8	0	0	(2)	6
’23	8	(1)	5	(2)	10
’22	9	2	(6)	(7)	(2)
’21	3	8	1	5	17
’20	5	4	(8)	14	15

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.04	0.07	—	—	—
’25	(0.01)	0.00	0.04	0.12	0.15
’24	0.07	0.07	0.06	0.05	0.25
’23	0.07	(0.01)	0.07	(0.01)	0.12
’22	0.00	0.02	0.02	(0.08)	(0.04)
’21	(0.08)	0.07	0.17	0.09	0.26
’20	(0.06)	(0.04)	(0.01)	(0.05)	(0.16)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	5.22	7.25	11.16	13.56	10.65	18.50	8.36	4.93	4.70	3.93	Analyst estimates 2026–2028 Powerpack
	High	8.59	16.50	21.98	22.99	61.82	87.40	24.84	11.42	8.50	9.69
People
People	Employees	1,432	1,862	2,009	2,177	2,163	2,332	2,433	2,437	2,514	2,556
	Revenue/emp, $m	0.09	0.09	0.11	0.10	0.09	0.10	0.10	0.11	0.11	0.12
Income, $m
Income, $m	Revenue	127	161	218	220	195	243	244	277	289	303
	Gross margin, %	59.20	55.96	55.45	55.78	55.15	57.52	55.50	56.66	56.54	57.15
	EBT	(1)	(1)	4	5	(9)	16	(1)	7	15	8
	EBT margin, %	(1.14)	(0.79)	1.87	2.20	(4.82)	6.69	(0.51)	2.64	5.30	2.72
	Net income	(3)	(2)	4	2	(8)	16	(2)	7	15	9
	Depreciation	9	14	20	22	22	24	24	23	17	25
Per share, $
Per share, $	Revenue	2.68	3.41	4.38	4.16	3.65	4.29	4.14	4.69	4.89	5.13
	Earnings	(0.06)	(0.04)	0.07	0.03	(0.16)	0.26	(0.04)	0.12	0.25	0.15
	Cash flow	0.20	0.24	0.67	0.60	0.64	0.54	0.40	0.37	0.58	0.49
	Capex	(0.30)	(0.76)	(0.47)	(0.33)	(0.37)	(0.23)	(0.44)	(0.20)	(0.47)	(0.30)
	Free cash flow	(0.10)	(0.52)	0.20	0.28	0.28	0.30	(0.04)	0.17	0.10	0.18
	Book value	1.85	1.85	3.22	3.02	2.85	4.85	4.08	4.34	4.55	4.89
	Shares, m	47	47	50	53	53	57	59	59	59	59
Valuation, ×
Valuation, ×	P/E	0.00	0.00	284.11	493.53	0.00	95.48	0.00	51.43	28.16	36.04
	P/S	2.87	3.64	4.57	4.40	14.86	5.57	2.09	1.34	1.44	1.08
	P/B	4.16	6.70	6.21	6.06	19.03	4.92	2.11	1.45	1.55	1.13
	EV/Sales	2.68	4.00	4.52	4.34	14.82	5.05	1.79	1.06	1.18	0.80
	EV/FCF	(73.71)	(26.05)	98.32	65.63	196.07	71.18	(182.39)	29.84	56.99	22.58
Cash, $m
Cash, $m	Operating cash flow	9	11	33	32	34	31	23	22	34	29
	Capex	(14)	(36)	(23)	(17)	(20)	(13)	(26)	(12)	(28)	(18)
	Free cash flow	(5)	(25)	10	15	15	17	(2)	10	6	11
Balance, $m
Balance, $m	Working capital	53	40	114	120	87	197	116	110	96	149
	Total debt	37	107	125	132	119	107	77	61	36	65
	Net debt	(24)	58	(11)	(12)	(8)	(125)	(72)	(77)	(74)	(86)
	Shareholders’ equity	87	88	161	160	152	275	241	256	269	289
Returns, %
Returns, %	ROA	(1.97)	(0.84)	1.12	0.48	(2.13)	3.60	(0.48)	1.69	3.39	1.93
	ROIC	0.12	0.42	2.55	3.33	(2.30)	6.01	(1.11)	2.12	3.28	3.12
	ROE	(3.72)	(2.14)	2.88	1.15	(5.22)	7.29	(0.87)	2.93	5.54	3.13

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
OOMA Ooma, Inc.	$565.2M	50.6×	45.1×	+25.41% (above 0%: growing)	+120.00% (above 0%: growing)	+113.96% (above 0%: growing)	61.26%	4.79%	Compare
MTC MMTec, Inc.	$530.8M	— (loss-making)	6.2×	+463.39% (above 0%: growing)	+53.54% (above 0%: growing)	+10.81% (above 0%: growing)	0.00%	0.00%	Compare
MTLS Materialise NV	$475.5M	29.6×	27.7×	+5.08% (above 0%: growing)	+1,650.00% (above 0%: growing)	+264.69% (above 0%: growing)	56.76%	3.97%
CRNC Cerence Inc.	$414.8M	— (loss-making)	193×	+11.81% (above 0%: growing)	n/m	+22.24% (above 0%: growing)	76.04%	2.69%	Compare
MFI mF International Limited	$389.9M	—	—	—	—	−38.82% (below 0%: shrinking)	—	—	Compare
RMNI Rimini Street, Inc.	$383.7M	47.7×	17.3×	+6.69% (above 0%: growing)	−90.91% (below 0%: shrinking)	+87.83% (above 0%: growing)	60.95%	5.74%	Compare
ENRD Einride AB - Sponsored ADR	$369.7M	8.1×	—	—	−25.00% (below 0%: shrinking)	−28.82% (below 0%: shrinking)	—	0.00%	Compare
YB Yuanbao Inc. - Sponsored ADR	$358.7M	2.4×	—	+37.38% (above 0%: growing)	+14.26% (above 0%: growing)	—	92.98%	32.39%	Compare
QH Quhuo Limited Sponsored ADR	$356.9M	— (loss-making)	9.1×	+63.08% (above 0%: growing)	n/m	+67.69% (above 0%: growing)	3.85%	0.00%	Compare
Median of peers	$386.8M	27.9×	17.3×	+31.40%	+14.26%	+22.24%	61.11%	2.69%

All 237 Software Application stocks →

Materialise NV (MTLS) key facts

Strength: Materialise NV’s revenue for fiscal 2025 (year ended December 2025) was $302.8 million, up 4.90% from fiscal 2024.
Materialise NV (MTLS) is a Software Application company in the Technology sector, listed on Nasdaq.
As of October 16, 2026, MTLS traded at $8.00, a market capitalization of $475.5 million.
Return on equity was 3.13% and debt-to-equity 0.21.
Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 2.22 (grey zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.