Matthews International (MATW) Financials

$21.93 +0.04 (+0.18%)

Closing price 05/29/2025 04:00 PM Eastern

Extended Trading

$22.14 +0.21 (+0.96%)

As of 04:06 AM Eastern

Annual Income Statements for Matthews International

This table shows Matthews International's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022
Period end date	9/30/2024	9/30/2023	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	-60	39	-100
Consolidated Net Income / (Loss)	-60	39	-100
Net Income / (Loss) Continuing Operations	-60	39	-100
Total Pre-Tax Income	-70	41	-104
Total Operating Income	-12	88	-44
Total Gross Profit	530	578	522
Total Revenue	1,796	1,881	1,762
Operating Revenue	1,796	1,881	1,762
Total Cost of Revenue	1,266	1,303	1,240
Operating Cost of Revenue	1,266	1,303	1,240
Total Operating Expenses	542	490	566
Selling, General & Admin Expense	488	447	427
Amortization Expense	37	42	57
Impairment Charge	17	0.00	82
Total Other Income / (Expense), net	-57	-47	-60
Interest Expense	51	45	28
Other Income / (Expense), net	-6.80	-2.56	-33
Income Tax Expense	-10.00	1.77	-4.39
Net Income / (Loss) Attributable to Noncontrolling Interest	0.00	-0.16	-0.05
Basic Earnings per Share	($1.93)	$1.28	($3.18)
Weighted Average Basic Shares Outstanding	30.60M	30.38M	30.30M
Diluted Earnings per Share	($1.93)	$1.26	($3.18)
Weighted Average Diluted Shares Outstanding	30.60M	30.38M	30.30M
Weighted Average Basic & Diluted Shares Outstanding	30.60M	30.38M	30.30M
Cash Dividends to Common per Share	$0.96	$0.92	$0.88

This table shows Matthews International's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022	6/30/2022
Net Income / (Loss) Attributable to Common Shareholders	-3.47	-68	1.78	9.03	-2.30	18	8.74	9.13	3.70	-81	2.89
Consolidated Net Income / (Loss)	-3.47	-68	1.78	9.03	-2.30	18	8.67	9.13	3.65	-81	2.88
Net Income / (Loss) Continuing Operations	-3.47	-68	1.78	9.03	-2.30	18	8.67	9.13	3.65	-81	2.88
Total Pre-Tax Income	-5.83	-67	-7.05	7.91	-3.03	15	8.11	13	4.96	-83	3.92
Total Operating Income	5.67	-50	6.70	21	9.43	26	22	23	17	-73	11
Total Gross Profit	126	117	132	148	132	151	138	150	139	145	121
Total Revenue	402	447	428	471	450	480	472	480	449	457	422
Operating Revenue	402	447	428	471	450	480	472	480	449	457	422
Total Cost of Revenue	276	329	296	323	318	329	334	330	310	312	301
Operating Cost of Revenue	276	329	296	323	318	329	334	330	310	312	301
Total Operating Expenses	120	167	125	127	123	125	117	127	122	218	110
Selling, General & Admin Expense	111	141	116	118	113	114	106	116	111	124	98
Amortization Expense	8.61	9.23	9.04	8.96	9.80	11	11	11	10	12	12
Total Other Income / (Expense), net	-12	-18	-14	-13	-12	-11	-13	-11	-12	-9.99	-7.05
Interest Expense	16	14	13	13	12	11	11	12	10	8.30	6.66
Other Income / (Expense), net	4.18	-4.07	-0.97	-0.88	-0.88	0.48	-2.49	1.50	-2.05	-1.69	-0.39
Income Tax Expense	-2.36	0.68	-8.83	-1.12	-0.73	-2.36	-0.56	3.38	1.31	-2.08	1.04
Net Income / (Loss) Attributable to Noncontrolling Interest	0.00	-	0.00	0.00	0.00	-0.03	-0.07	-0.00	-0.06	0.00	-0.02
Basic Earnings per Share	($0.11)	($2.21)	$0.06	$0.29	($0.07)	$0.58	$0.28	$0.30	$0.12	($2.59)	$0.09
Weighted Average Basic Shares Outstanding	30.97M	30.60M	30.60M	30.71M	30.68M	30.38M	30.47M	30.46M	30.42M	30.30M	30.61M
Diluted Earnings per Share	($0.11)	($2.21)	$0.06	$0.29	($0.07)	$0.57	$0.28	$0.29	$0.12	($2.59)	$0.09
Weighted Average Diluted Shares Outstanding	30.97M	30.60M	30.60M	30.71M	30.68M	30.38M	30.47M	30.46M	30.42M	30.30M	30.61M
Weighted Average Basic & Diluted Shares Outstanding	30.97M	30.60M	30.60M	30.71M	30.68M	30.38M	30.47M	30.46M	30.42M	30.30M	30.61M
Cash Dividends to Common per Share	$0.25	-	$0.24	$0.24	$0.24	-	$0.23	$0.23	$0.23	-	$0.22

This table details how cash moves in and out of Matthews International's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022
Period end date	9/30/2024	9/30/2023	9/30/2022
Net Change in Cash & Equivalents	-1.29	-29	3.07
Net Cash From Operating Activities	79	80	127
Net Cash From Continuing Operating Activities	79	80	127
Net Income / (Loss) Continuing Operations	-60	39	-100
Consolidated Net Income / (Loss)	-60	39	-100
Depreciation Expense	95	97	104
Non-Cash Adjustments To Reconcile Net Income	51	0.56	71
Changes in Operating Assets and Liabilities, net	-6.45	-57	52
Net Cash From Investing Activities	-47	-59	-81
Net Cash From Continuing Investing Activities	-47	-59	-81
Purchase of Property, Plant & Equipment	-45	-51	-61
Acquisitions	-5.83	-15	-44
Purchase of Investments	-0.83	-1.61	-2.20
Sale of Property, Plant & Equipment	4.16	2.12	4.96
Divestitures	0.54	6.70	0.34
Sale and/or Maturity of Investments	0.20	0.00	22
Net Cash From Financing Activities	-35	-50	-37
Net Cash From Continuing Financing Activities	-35	-50	-37
Repayment of Debt	-1,286	-885	-745
Repurchase of Common Equity	-21	-2.86	-42
Payment of Dividends	-31	-28	-28
Issuance of Debt	1,245	866	778
Other Financing Activities, net	58	0.00	-0.73
Effect of Exchange Rate Changes	1.44	0.08	-5.72
Cash Interest Paid	50	44	27
Cash Income Taxes Paid	19	18	14

This table details how cash moves in and out of Matthews International's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022	6/30/2022
Net Change in Cash & Equivalents	-7.30	-1.93	-2.75	7.58	-4.18	2.81	-2.62	-3.20	-26	5.27	-9.93
Net Cash From Operating Activities	-25	36	13	57	-27	2.62	32	81	-36	42	12
Net Cash From Continuing Operating Activities	-25	36	13	57	-27	2.62	32	81	-36	42	12
Net Income / (Loss) Continuing Operations	-3.47	-68	1.78	9.03	-2.30	18	8.67	9.13	3.65	-81	2.88
Consolidated Net Income / (Loss)	-3.47	-68	1.78	9.03	-2.30	18	8.67	9.13	3.65	-81	2.88
Depreciation Expense	23	24	24	23	24	25	24	24	24	24	23
Non-Cash Adjustments To Reconcile Net Income	-4.59	37	5.19	4.10	4.56	0.10	5.62	15	-20	83	4.21
Changes in Operating Assets and Liabilities, net	-39	43	-17	21	-53	-40	-6.03	33	-44	17	-18
Net Cash From Investing Activities	1.44	-8.34	-8.87	-16	-14	-5.01	-23	-17	-14	-42	-14
Net Cash From Continuing Investing Activities	1.44	-8.34	-8.87	-16	-14	-5.01	-23	-17	-14	-42	-14
Purchase of Property, Plant & Equipment	-9.53	-12	-9.15	-9.96	-14	-13	-13	-11	-12	-21	-13
Acquisitions	-2.22	-	-	-5.83	0.00	-	-7.76	-5.83	-1.76	-44	-
Sale of Property, Plant & Equipment	13	-	-	-	0.12	-	-	-	-	-	-
Other Investing Activities, net	-0.06	-	1.10	0.21	-0.24	-	0.11	0.15	0.00	-	0.51
Net Cash From Financing Activities	18	-31	-7.11	-33	36	6.16	-11	-67	22	6.56	-5.10
Net Cash From Continuing Financing Activities	18	-31	-7.11	-33	36	6.16	-11	-67	22	6.56	-5.10
Repayment of Debt	-219	-595	-237	-243	-212	-240	-202	-234	-209	-191	-199
Repurchase of Common Equity	-4.28	-0.05	-3.31	-0.04	-17	-0.04	-0.08	-0.29	-2.45	-7.73	-22
Payment of Dividends	-9.24	-7.35	-7.37	-7.41	-9.28	-7.02	-7.06	-7.12	-7.00	-6.87	-6.86
Issuance of Debt	251	530	223	217	274	254	197	174	241	212	223
Effect of Exchange Rate Changes	-2.17	1.41	-0.27	-0.86	1.16	-0.97	-0.84	0.14	1.76	-1.86	-2.28

This table presents Matthews International's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022
Period end date	9/30/2024	9/30/2023	9/30/2022
Total Assets	1,835	1,887	1,883
Total Current Assets	633	648	629
Cash & Equivalents	41	42	69
Accounts Receivable	206	208	221
Inventories, net	238	260	225
Other Current Assets	148	138	111
Plant, Property, & Equipment, net	279	270	256
Total Noncurrent Assets	923	969	998
Long-Term Investments	23	25	26
Goodwill	697	698	675
Intangible Assets	126	160	202
Noncurrent Deferred & Refundable Income Taxes	6.55	2.27	3.61
Other Noncurrent Operating Assets	70	83	91
Total Liabilities & Shareholders' Equity	1,835	1,887	1,883
Total Liabilities	1,398	1,362	1,396
Total Current Liabilities	435	395	411
Short-Term Debt	6.85	3.70	3.28
Accounts Payable	108	114	121
Accrued Expenses	24	22	-
Current Deferred & Payable Income Tax Liabilities	7.52	13	9.28
Current Employee Benefit Liabilities	89	59	58
Other Current Liabilities	199	183	219
Total Noncurrent Liabilities	963	968	984
Long-Term Debt	770	786	795
Noncurrent Deferred & Payable Income Tax Liabilities	46	71	93
Other Noncurrent Operating Liabilities	148	110	96
Total Equity & Noncontrolling Interests	437	525	487
Total Preferred & Common Equity	437	526	487
Total Common Equity	437	526	487
Common Stock	196	205	197
Retained Earnings	623	715	707
Treasury Stock	-213	-219	-226
Accumulated Other Comprehensive Income / (Loss)	-169	-174	-190
Noncontrolling Interest	0.05	-0.39	-0.28

This table presents Matthews International's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	12/31/2024	6/30/2024	3/31/2024	12/31/2023	6/30/2023	3/31/2023	12/31/2022	6/30/2022
Total Assets	1,792	1,862	1,890	1,903	1,884	1,897	1,903	1,905
Total Current Assets	623	642	654	658	620	618	633	599
Cash & Equivalents	34	43	45	38	39	42	43	46
Accounts Receivable	199	193	193	216	188	216	222	208
Inventories, net	242	249	253	258	269	255	246	211
Other Current Assets	149	158	163	146	123	106	121	114
Plant, Property, & Equipment, net	265	273	278	282	274	268	265	209
Total Noncurrent Assets	904	947	959	963	991	1,011	1,005	1,097
Long-Term Investments	23	27	27	25	25	24	26	24
Goodwill	686	706	708	709	703	709	692	755
Intangible Assets	117	135	144	151	175	190	194	213
Noncurrent Deferred & Refundable Income Taxes	6.12	2.08	2.32	2.40	2.68	2.89	3.16	2.74
Other Noncurrent Operating Assets	72	77	78	75	85	85	90	103
Total Liabilities & Shareholders' Equity	1,792	1,862	1,890	1,903	1,884	1,897	1,903	1,905
Total Liabilities	1,378	1,358	1,381	1,394	1,362	1,385	1,398	1,314
Total Current Liabilities	396	386	359	349	380	394	367	310
Short-Term Debt	7.26	5.48	5.42	4.95	2.94	2.83	2.98	3.36
Accounts Payable	102	114	107	97	112	118	101	104
Accrued Expenses	23	-	-	-	-	-	-	-
Current Deferred & Payable Income Tax Liabilities	7.87	10	4.04	7.52	3.87	5.14	7.58	3.26
Current Employee Benefit Liabilities	60	47	45	44	49	46	43	43
Other Current Liabilities	195	210	198	195	212	222	212	157
Total Noncurrent Liabilities	983	972	1,022	1,045	982	990	1,031	1,004
Long-Term Debt	802	825	837	857	772	775	834	773
Noncurrent Deferred & Payable Income Tax Liabilities	47	45	70	72	92	92	93	109
Other Noncurrent Operating Liabilities	134	102	115	116	118	123	78	72
Total Equity & Noncontrolling Interests	413	504	509	509	522	512	505	591
Total Preferred & Common Equity	413	504	509	509	522	513	505	591
Total Common Equity	413	504	509	509	522	513	505	591
Common Stock	181	192	187	183	201	196	194	193
Retained Earnings	611	699	705	704	704	703	702	795
Treasury Stock	-197	-213	-210	-211	-219	-220	-221	-218
Accumulated Other Comprehensive Income / (Loss)	-181	-174	-173	-168	-164	-167	-169	-179
Noncontrolling Interest	0.05	0.05	0.05	0.05	-0.40	-0.30	-0.33	-0.27

This table displays calculated financial ratios and metrics derived from Matthews International's official financial filings.

Metric	2024	2023	2022
Period end date	9/30/2024	9/30/2023	9/30/2022
Growth Metrics	-	-	-
Revenue Growth	-4.53%	6.72%	5.47%
EBITDA Growth	-58.46%	560.65%	-83.92%
EBIT Growth	-122.35%	211.85%	-301.74%
NOPAT Growth	-110.23%	374.08%	-336.38%
Net Income Growth	-252.44%	139.20%	-3,592.93%
EPS Growth	-253.17%	139.62%	-3,633.33%
Operating Cash Flow Growth	-0.30%	-37.31%	-22.08%
Free Cash Flow Firm Growth	272.10%	-76.18%	199.42%
Invested Capital Growth	-7.90%	5.06%	-10.01%
Revenue Q/Q Growth	-1.83%	1.24%	1.05%
EBITDA Q/Q Growth	-51.72%	128.37%	-77.78%
EBIT Q/Q Growth	-131.09%	635.64%	-1,021.17%
NOPAT Q/Q Growth	-106.79%	1,171.19%	-220.29%
Net Income Q/Q Growth	-327.76%	165.76%	-342.91%
EPS Q/Q Growth	-327.06%	166.32%	-354.29%
Operating Cash Flow Q/Q Growth	72.52%	-33.40%	-9.59%
Free Cash Flow Firm Q/Q Growth	-5.22%	-34.18%	41.76%
Invested Capital Q/Q Growth	-9.06%	1.30%	-6.94%
Profitability Metrics	-	-	-
Gross Margin	29.50%	30.71%	29.63%
EBITDA Margin	4.21%	9.68%	1.56%
Operating Margin	-0.69%	4.68%	-2.49%
EBIT Margin	-1.06%	4.55%	-4.34%
Profit (Net Income) Margin	-3.32%	2.08%	-5.66%
Tax Burden Percent	85.65%	95.66%	95.79%
Interest Burden Percent	364.26%	47.82%	136.24%
Effective Tax Rate	0.00%	4.34%	0.00%
Return on Invested Capital (ROIC)	-0.72%	6.92%	-2.45%
ROIC Less NNEP Spread (ROIC-NNEP)	-7.83%	0.58%	-12.42%
Return on Net Nonoperating Assets (RNNOA)	-11.68%	0.81%	-15.32%
Return on Equity (ROE)	-12.40%	7.73%	-17.77%
Cash Return on Invested Capital (CROIC)	7.50%	1.98%	8.09%
Operating Return on Assets (OROA)	-1.03%	4.54%	-3.91%
Return on Assets (ROA)	-3.21%	2.08%	-5.10%
Return on Common Equity (ROCE)	-12.40%	7.74%	-17.78%
Return on Equity Simple (ROE_SIMPLE)	-13.65%	7.45%	-20.48%
Net Operating Profit after Tax (NOPAT)	-8.63	84	-31
NOPAT Margin	-0.48%	4.48%	-1.75%
Net Nonoperating Expense Percent (NNEP)	7.11%	6.34%	9.97%
Cost of Revenue to Revenue	70.50%	69.29%	70.37%
SG&A Expenses to Revenue	27.19%	23.79%	24.21%
R&D to Revenue	0.00%	0.00%	0.00%
Operating Expenses to Revenue	30.18%	26.03%	32.13%
Earnings before Interest and Taxes (EBIT)	-19	86	-76
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	76	182	28
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	1.62	2.18	1.33
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.40	0.61	0.37
Price to Earnings (P/E)	0.00	29.22	0.00
Dividend Yield	4.14%	2.44%	4.16%
Earnings Yield	0.00%	3.42%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.24	1.50	1.14
Enterprise Value to Revenue (EV/Rev)	0.79	0.99	0.77
Enterprise Value to EBITDA (EV/EBITDA)	18.80	10.27	48.94
Enterprise Value to EBIT (EV/EBIT)	0.00	21.87	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	22.19	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	17.94	23.53	10.63
Enterprise Value to Free Cash Flow (EV/FCFF)	15.81	77.38	13.29
Leverage & Solvency	-	-	-
Debt to Equity	1.78	1.50	1.64
Long-Term Debt to Equity	1.76	1.50	1.63
Financial Leverage	1.49	1.41	1.23
Leverage Ratio	3.87	3.72	3.48
Compound Leverage Factor	14.09	1.78	4.75
Debt to Total Capital	63.98%	60.07%	62.11%
Short-Term Debt to Total Capital	0.56%	0.28%	0.25%
Long-Term Debt to Total Capital	63.41%	59.79%	61.86%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	-0.03%	-0.02%
Common Equity to Total Capital	36.02%	39.96%	37.91%
Debt to EBITDA	10.26	4.34	28.97
Net Debt to EBITDA	9.42	3.97	25.44
Long-Term Debt to EBITDA	10.17	4.32	28.85
Debt to NOPAT	-90.01	9.37	-25.96
Net Debt to NOPAT	-82.61	8.58	-22.80
Long-Term Debt to NOPAT	-89.22	9.33	-25.86
Altman Z-Score	1.85	2.34	1.74
Noncontrolling Interest Sharing Ratio	-0.04%	-0.07%	-0.04%
Liquidity Ratios	-	-	-
Current Ratio	1.45	1.64	1.53
Quick Ratio	0.57	0.63	0.71
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	90	24	101
Operating Cash Flow to CapEx	193.08%	164.04%	225.06%
Free Cash Flow to Firm to Interest Expense	1.78	0.54	3.66
Operating Cash Flow to Interest Expense	1.57	1.78	4.58
Operating Cash Flow Less CapEx to Interest Expense	0.76	0.70	2.54
Efficiency Ratios	-	-	-
Asset Turnover	0.96	1.00	0.90
Accounts Receivable Turnover	8.69	8.78	6.64
Inventory Turnover	5.08	5.36	5.98
Fixed Asset Turnover	6.53	7.15	7.35
Accounts Payable Turnover	11.37	11.06	10.60
Days Sales Outstanding (DSO)	42.02	41.58	54.97
Days Inventory Outstanding (DIO)	71.83	68.04	61.00
Days Payable Outstanding (DPO)	32.10	33.00	34.45
Cash Conversion Cycle (CCC)	81.76	76.61	81.52
Capital & Investment Metrics	-	-	-
Invested Capital	1,150	1,248	1,188
Invested Capital Turnover	1.50	1.54	1.41
Increase / (Decrease) in Invested Capital	-99	60	-132
Enterprise Value (EV)	1,422	1,871	1,349
Market Capitalization	710	1,148	648
Book Value per Share	$14.29	$17.25	$15.92
Tangible Book Value per Share	($12.62)	($10.93)	($12.75)
Total Capital	1,214	1,315	1,286
Total Debt	776	790	799
Total Long-Term Debt	770	786	795
Net Debt	713	723	701
Capital Expenditures (CapEx)	41	48	56
Debt-free, Cash-free Net Working Capital (DFCFNWC)	164	215	149
Debt-free Net Working Capital (DFNWC)	205	257	221
Net Working Capital (NWC)	198	254	217
Net Nonoperating Expense (NNE)	51	45	69
Net Nonoperating Obligations (NNO)	713	723	701
Total Depreciation and Amortization (D&A)	95	97	104
Debt-free, Cash-free Net Working Capital to Revenue	9.12%	11.44%	8.46%
Debt-free Net Working Capital to Revenue	11.39%	13.68%	12.51%
Net Working Capital to Revenue	11.01%	13.49%	12.33%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	($1.93)	$1.28	($3.18)
Adjusted Weighted Average Basic Shares Outstanding	30.60M	30.38M	30.30M
Adjusted Diluted Earnings per Share	($1.93)	$1.26	($3.18)
Adjusted Weighted Average Diluted Shares Outstanding	30.60M	30.38M	30.30M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	30.60M	30.38M	30.30M
Normalized Net Operating Profit after Tax (NOPAT)	3.08	84	27
Normalized NOPAT Margin	0.17%	4.48%	1.53%
Pre Tax Income Margin	-3.88%	2.18%	-5.91%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	-0.38	1.92	-2.76
NOPAT to Interest Expense	-0.17	1.89	-1.11
EBIT Less CapEx to Interest Expense	-1.19	0.83	-4.79
NOPAT Less CapEx to Interest Expense	-0.98	0.80	-3.14
Payout Ratios	-	-	-
Dividend Payout Ratio	-52.65%	72.06%	-27.73%
Augmented Payout Ratio	-87.13%	79.36%	-69.52%

This table displays calculated financial ratios and metrics derived from Matthews International's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022	6/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-10.70%	-6.97%	-9.34%	-1.74%	0.17%	5.04%	11.90%	7.78%	2.43%	4.17%	-1.55%
EBITDA Growth	0.89%	-157.31%	-31.62%	-10.25%	-17.56%	201.31%	28.23%	55.47%	186.68%	-211.37%	-20.62%
EBIT Growth	15.27%	-300.98%	-69.91%	-16.71%	-43.67%	135.85%	80.04%	223.04%	176.13%	-842.92%	54.82%
NOPAT Growth	-39.81%	-214.75%	-79.61%	44.82%	-47.92%	159.39%	185.74%	258.15%	67.92%	84.96%	-73.15%
Net Income Growth	-50.76%	-485.24%	-79.51%	-1.07%	-163.15%	121.85%	201.60%	571.33%	118.41%	-2,107.12%	-14.59%
EPS Growth	-57.14%	-487.72%	-78.57%	0.00%	-158.33%	122.01%	211.11%	583.33%	119.35%	-2,254.55%	-10.00%
Operating Cash Flow Growth	8.28%	1,273.03%	-58.08%	-29.44%	24.73%	-93.84%	176.49%	-18.97%	-33.39%	-24.06%	-20.65%
Free Cash Flow Firm Growth	569.57%	314.27%	-140.49%	-141.43%	-130.26%	-136.68%	25.02%	462.70%	1,005.08%	125.41%	-16.43%
Invested Capital Growth	-10.82%	-7.90%	2.60%	4.50%	2.96%	5.06%	-3.49%	-4.49%	-6.60%	-10.01%	-3.48%
Revenue Q/Q Growth	-10.04%	4.41%	-9.21%	4.72%	-6.29%	1.75%	-1.60%	6.75%	-1.73%	8.40%	-5.23%
EBITDA Q/Q Growth	209.61%	-200.46%	-32.77%	36.30%	-37.74%	19.87%	-11.76%	25.19%	176.51%	-251.72%	6.98%
EBIT Q/Q Growth	118.30%	-1,040.08%	-71.99%	139.27%	-68.10%	40.74%	-22.47%	61.82%	120.30%	-806.81%	39.11%
NOPAT Q/Q Growth	111.40%	-842.76%	-80.74%	269.08%	-78.27%	32.01%	36.79%	32.74%	124.78%	-735.12%	175.71%
Net Income Q/Q Growth	94.91%	-3,935.73%	-80.31%	491.97%	-113.02%	104.05%	-4.98%	150.21%	104.50%	-2,915.90%	248.50%
EPS Q/Q Growth	95.02%	-3,783.33%	-79.31%	514.29%	-112.28%	103.57%	-3.45%	141.67%	104.63%	-2,977.78%	250.00%
Operating Cash Flow Q/Q Growth	-169.57%	166.37%	-76.37%	309.44%	-1,141.48%	-91.87%	-60.22%	323.43%	-185.25%	264.93%	-88.34%
Free Cash Flow Firm Q/Q Growth	128.20%	332.89%	11.11%	0.60%	-4.13%	-144.00%	-9.05%	-27.40%	26.22%	50.00%	309.37%
Invested Capital Q/Q Growth	1.46%	-9.06%	-1.21%	-2.16%	4.78%	1.30%	0.62%	-3.60%	6.92%	-6.94%	-0.41%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	31.28%	26.27%	30.82%	31.45%	29.41%	31.41%	29.31%	31.20%	30.93%	31.78%	28.66%
EBITDA Margin	8.05%	-6.61%	6.87%	9.28%	7.13%	10.73%	9.11%	10.16%	8.66%	-11.12%	7.95%
Operating Margin	1.41%	-11.14%	1.57%	4.53%	2.10%	5.48%	4.56%	4.81%	3.83%	-15.98%	2.60%
EBIT Margin	2.45%	-12.05%	1.34%	4.34%	1.90%	5.58%	4.03%	5.12%	3.38%	-16.35%	2.51%
Profit (Net Income) Margin	-0.86%	-15.26%	0.42%	1.92%	-0.51%	3.68%	1.84%	1.90%	0.81%	-17.71%	0.68%
Tax Burden Percent	59.55%	101.01%	-25.20%	114.19%	76.03%	115.41%	106.88%	72.96%	73.54%	97.50%	73.44%
Interest Burden Percent	-59.18%	125.32%	-123.11%	38.66%	-35.44%	57.22%	42.62%	50.94%	32.68%	111.10%	37.02%
Effective Tax Rate	0.00%	0.00%	0.00%	-14.19%	0.00%	-15.41%	-6.88%	27.04%	26.46%	0.00%	26.56%
Return on Invested Capital (ROIC)	1.40%	-11.68%	1.61%	7.73%	2.14%	9.76%	7.22%	5.06%	3.80%	-15.72%	2.56%
ROIC Less NNEP Spread (ROIC-NNEP)	0.44%	-16.32%	1.21%	5.66%	1.00%	7.98%	5.17%	3.93%	2.58%	-20.02%	1.81%
Return on Net Nonoperating Assets (RNNOA)	0.74%	-24.35%	1.74%	8.22%	1.55%	11.23%	6.49%	4.70%	3.33%	-24.69%	2.06%
Return on Equity (ROE)	2.13%	-36.03%	3.34%	15.95%	3.69%	21.00%	13.71%	9.76%	7.13%	-40.40%	4.62%
Cash Return on Invested Capital (CROIC)	10.53%	7.50%	7.60%	2.93%	3.36%	1.98%	2.93%	3.37%	4.83%	8.09%	5.51%
Operating Return on Assets (OROA)	2.32%	-11.63%	1.31%	4.29%	1.88%	5.57%	3.96%	4.81%	3.03%	-14.72%	2.20%
Return on Assets (ROA)	-0.82%	-14.72%	0.41%	1.89%	-0.51%	3.68%	1.80%	1.79%	0.73%	-15.95%	0.60%
Return on Common Equity (ROCE)	2.13%	-36.04%	3.34%	15.96%	3.69%	21.01%	13.71%	9.76%	7.13%	-40.42%	4.62%
Return on Equity Simple (ROE_SIMPLE)	-14.71%	0.00%	5.20%	6.50%	6.52%	0.00%	-11.40%	-12.74%	-15.12%	0.00%	-3.81%
Net Operating Profit after Tax (NOPAT)	3.97	-35	4.69	24	6.60	30	23	17	13	-51	8.05
NOPAT Margin	0.99%	-7.80%	1.10%	5.17%	1.47%	6.32%	4.87%	3.51%	2.82%	-11.19%	1.91%
Net Nonoperating Expense Percent (NNEP)	0.96%	4.64%	0.40%	2.07%	1.14%	1.78%	2.05%	1.13%	1.22%	4.31%	0.75%
Return On Investment Capital (ROIC_SIMPLE)	0.32%	-	-	-	0.48%	-	-	-	-	-	-
Cost of Revenue to Revenue	68.72%	73.73%	69.18%	68.55%	70.59%	68.59%	70.69%	68.80%	69.07%	68.22%	71.34%
SG&A Expenses to Revenue	27.72%	31.60%	27.14%	25.02%	25.14%	23.73%	22.49%	24.20%	24.79%	27.14%	23.26%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	29.87%	37.41%	29.25%	26.92%	27.32%	25.93%	24.75%	26.39%	27.09%	47.76%	26.06%
Earnings before Interest and Taxes (EBIT)	9.85	-54	5.73	20	8.55	27	19	25	15	-75	11
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	32	-30	29	44	32	52	43	49	39	-51	34
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.05	1.62	1.51	1.84	2.12	2.18	2.40	2.05	1.74	1.33	1.42
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.48	0.40	0.42	0.50	0.57	0.61	0.67	0.58	0.50	0.37	0.48
Price to Earnings (P/E)	0.00	0.00	29.07	28.23	32.44	29.22	0.00	0.00	0.00	0.00	0.00
Dividend Yield	3.50%	4.14%	3.83%	3.08%	2.62%	2.44%	2.22%	2.61%	3.07%	4.16%	3.26%
Earnings Yield	0.00%	0.00%	3.44%	3.54%	3.08%	3.42%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.37	1.24	1.20	1.33	1.44	1.50	1.59	1.44	1.29	1.14	1.20
Enterprise Value to Revenue (EV/Rev)	0.92	0.79	0.83	0.91	1.00	0.99	1.06	0.98	0.93	0.77	0.88
Enterprise Value to EBITDA (EV/EBITDA)	21.07	18.80	9.72	10.03	10.72	10.27	24.59	25.08	31.06	48.94	12.31
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	24.76	22.82	23.81	21.87	0.00	0.00	0.00	0.00	183.87
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	11.99	18.59	23.21	22.19	0.00	0.00	0.00	0.00	59.72
Enterprise Value to Operating Cash Flow (EV/OCF)	19.63	17.94	33.14	26.41	21.24	23.53	16.42	17.83	13.95	10.63	10.88
Enterprise Value to Free Cash Flow (EV/FCFF)	12.29	15.81	16.05	46.55	43.32	77.38	53.38	41.71	25.89	13.29	21.33
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.96	1.78	1.65	1.65	1.69	1.50	1.49	1.52	1.66	1.64	1.31
Long-Term Debt to Equity	1.94	1.76	1.64	1.64	1.69	1.50	1.48	1.51	1.65	1.63	1.31
Financial Leverage	1.68	1.49	1.43	1.45	1.54	1.41	1.26	1.20	1.29	1.23	1.14
Leverage Ratio	4.01	3.87	3.65	3.71	3.75	3.72	3.41	3.37	3.44	3.48	3.27
Compound Leverage Factor	-2.37	4.85	-4.50	1.43	-1.33	2.13	1.45	1.72	1.12	3.87	1.21
Debt to Total Capital	66.18%	63.98%	62.24%	62.33%	62.89%	60.07%	59.76%	60.29%	62.38%	62.11%	56.78%
Short-Term Debt to Total Capital	0.59%	0.56%	0.41%	0.40%	0.36%	0.28%	0.23%	0.22%	0.22%	0.25%	0.25%
Long-Term Debt to Total Capital	65.59%	63.41%	61.83%	61.93%	62.53%	59.79%	59.53%	60.07%	62.15%	61.86%	56.54%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	-0.03%	-0.03%	-0.02%	-0.02%	-0.02%	-0.02%
Common Equity to Total Capital	33.81%	36.02%	37.76%	37.67%	37.10%	39.96%	40.27%	39.73%	37.65%	37.91%	43.24%
Debt to EBITDA	10.66	10.26	5.30	4.95	4.92	4.34	9.72	11.07	15.83	28.97	6.26
Net Debt to EBITDA	9.92	9.42	4.86	4.53	4.56	3.97	8.91	10.14	14.47	25.44	5.53
Long-Term Debt to EBITDA	10.56	10.17	5.26	4.92	4.89	4.32	9.68	11.03	15.77	28.85	6.23
Debt to NOPAT	-71.91	-90.01	6.54	9.18	10.65	9.37	-98.48	-50.98	-31.90	-25.96	30.35
Net Debt to NOPAT	-66.92	-82.61	5.99	8.39	9.87	8.58	-90.28	-46.67	-29.17	-22.80	26.84
Long-Term Debt to NOPAT	-71.26	-89.22	6.50	9.12	10.59	9.33	-98.11	-50.79	-31.79	-25.86	30.22
Altman Z-Score	1.99	1.79	2.02	2.14	2.18	2.24	2.25	2.11	2.02	1.75	2.08
Noncontrolling Interest Sharing Ratio	0.01%	-0.04%	-0.03%	-0.03%	-0.03%	-0.07%	-0.06%	-0.04%	-0.04%	-0.04%	0.02%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.58	1.45	1.66	1.82	1.88	1.64	1.63	1.57	1.73	1.53	1.93
Quick Ratio	0.59	0.57	0.61	0.66	0.73	0.63	0.60	0.65	0.72	0.71	0.82
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	145	64	-27	-31	-31	-30	68	74	102	81	54
Operating Cash Flow to CapEx	0.00%	298.60%	147.53%	573.36%	-195.47%	19.41%	241.43%	711.58%	-292.18%	205.04%	93.14%
Free Cash Flow to Firm to Interest Expense	9.28	4.68	-2.14	-2.45	-2.68	-2.60	6.19	6.17	10.02	9.77	8.12
Operating Cash Flow to Interest Expense	-1.59	2.64	1.06	4.55	-2.36	0.23	2.95	6.72	-3.55	5.12	1.75
Operating Cash Flow Less CapEx to Interest Expense	-1.36	1.75	0.34	3.76	-3.56	-0.95	1.73	5.77	-4.76	2.62	-0.13
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.95	0.96	0.98	0.99	0.99	1.00	0.98	0.94	0.90	0.90	0.88
Accounts Receivable Turnover	8.41	8.69	9.60	9.16	8.59	8.78	9.39	8.23	6.62	6.64	6.92
Inventory Turnover	4.90	5.08	4.90	5.13	5.21	5.36	5.36	5.49	5.67	5.98	6.06
Fixed Asset Turnover	6.39	6.53	6.69	6.86	6.89	7.15	7.70	7.51	0.00	7.35	0.00
Accounts Payable Turnover	12.29	11.37	11.24	11.58	13.20	11.06	11.94	10.76	11.66	10.60	11.98
Days Sales Outstanding (DSO)	43.41	42.02	38.02	39.83	42.48	41.58	38.88	44.36	55.13	54.97	52.75
Days Inventory Outstanding (DIO)	74.43	71.83	74.56	71.10	70.10	68.04	68.10	66.44	64.33	61.00	60.27
Days Payable Outstanding (DPO)	29.70	32.10	32.49	31.51	27.66	33.00	30.57	33.92	31.30	34.45	30.48
Cash Conversion Cycle (CCC)	88.15	81.76	80.10	79.42	84.93	76.61	76.41	76.88	88.15	81.52	82.55
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,167	1,150	1,264	1,280	1,308	1,248	1,232	1,225	1,270	1,188	1,277
Invested Capital Turnover	1.41	1.50	1.47	1.50	1.46	1.54	1.48	1.44	1.35	1.41	1.34
Increase / (Decrease) in Invested Capital	-141	-99	32	55	38	60	-45	-58	-90	-132	-46
Enterprise Value (EV)	1,600	1,422	1,523	1,707	1,879	1,871	1,961	1,762	1,643	1,349	1,527
Market Capitalization	847	710	762	937	1,080	1,148	1,251	1,050	878	648	841
Book Value per Share	$13.51	$14.29	$16.40	$16.60	$16.58	$17.25	$17.15	$16.85	$16.68	$15.92	$18.87
Tangible Book Value per Share	($12.73)	($12.62)	($10.99)	($11.16)	($11.46)	($10.93)	($11.68)	($12.70)	($12.56)	($12.75)	($12.05)
Total Capital	1,223	1,214	1,334	1,352	1,371	1,315	1,297	1,290	1,342	1,286	1,367
Total Debt	809	776	830	843	862	790	775	778	837	799	776
Total Long-Term Debt	802	770	825	837	857	786	772	775	834	795	773
Net Debt	753	713	761	770	799	723	710	712	766	701	686
Capital Expenditures (CapEx)	-3.72	12	9.15	9.96	14	13	13	11	12	21	13
Debt-free, Cash-free Net Working Capital (DFCFNWC)	201	164	219	255	276	215	203	185	224	149	226
Debt-free Net Working Capital (DFNWC)	235	205	261	301	314	257	242	227	269	221	292
Net Working Capital (NWC)	228	198	256	295	309	254	239	224	267	217	289
Net Nonoperating Expense (NNE)	7.44	33	2.91	15	8.90	13	14	7.69	9.02	30	5.18
Net Nonoperating Obligations (NNO)	753	713	761	770	799	723	710	712	766	701	686
Total Depreciation and Amortization (D&A)	23	24	24	23	24	25	24	24	24	24	23
Debt-free, Cash-free Net Working Capital to Revenue	11.52%	9.12%	11.95%	13.62%	14.66%	11.44%	10.93%	10.22%	12.65%	8.46%	12.96%
Debt-free Net Working Capital to Revenue	13.44%	11.39%	14.29%	16.05%	16.68%	13.68%	13.05%	12.54%	15.20%	12.51%	16.75%
Net Working Capital to Revenue	13.02%	11.01%	13.99%	15.76%	16.41%	13.49%	12.89%	12.38%	15.03%	12.33%	16.56%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.11)	($2.21)	$0.06	$0.29	($0.07)	$0.58	$0.28	$0.30	$0.12	($2.59)	$0.09
Adjusted Weighted Average Basic Shares Outstanding	30.97M	30.60M	30.60M	30.71M	30.68M	30.38M	30.47M	30.46M	30.42M	30.30M	30.61M
Adjusted Diluted Earnings per Share	($0.11)	($2.21)	$0.06	$0.29	($0.07)	$0.57	$0.28	$0.29	$0.12	($2.59)	$0.09
Adjusted Weighted Average Diluted Shares Outstanding	30.97M	30.60M	30.60M	30.71M	30.68M	30.38M	30.47M	30.46M	30.42M	30.30M	30.61M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	30.97M	30.60M	30.60M	30.71M	30.68M	30.38M	30.47M	30.46M	30.42M	30.30M	30.61M
Normalized Net Operating Profit after Tax (NOPAT)	3.97	-35	4.69	15	6.60	18	15	17	13	-51	8.05
Normalized NOPAT Margin	0.99%	-7.80%	1.10%	3.17%	1.47%	3.84%	3.19%	3.51%	2.82%	-11.19%	1.91%
Pre Tax Income Margin	-1.45%	-15.11%	-1.65%	1.68%	-0.67%	3.19%	1.72%	2.61%	1.10%	-18.17%	0.93%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.63	-3.95	0.45	1.63	0.74	2.34	1.74	2.04	1.49	-9.01	1.59
NOPAT to Interest Expense	0.25	-2.56	0.37	1.94	0.57	2.65	2.11	1.40	1.24	-6.16	1.21
EBIT Less CapEx to Interest Expense	0.87	-4.83	-0.27	0.84	-0.47	1.16	0.52	1.09	0.27	-11.50	-0.29
NOPAT Less CapEx to Interest Expense	0.49	-3.44	-0.35	1.15	-0.63	1.47	0.89	0.45	0.03	-8.66	-0.67
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-51.56%	-52.65%	118.66%	92.99%	91.84%	72.06%	-47.14%	-42.66%	-36.49%	-27.73%	-130.53%
Augmented Payout Ratio	-64.16%	-87.13%	197.16%	145.39%	144.85%	79.36%	-64.87%	-92.14%	-91.13%	-69.52%	-306.65%

Frequently Asked Questions About Matthews International's Financials

When does Matthews International's fiscal year end?

According to the most recent income statement we have on file, Matthews International's financial year ends in September. Their financial year 2024 ended on September 30, 2024.

How has Matthews International's net income changed over the last 2 years?

Matthews International's net income appears to be on a downward trend, with a most recent value of -$59.66 million in 2024, falling from -$99.83 million in 2022. The previous period was $39.14 million in 2023. Find out what analysts predict for Matthews International in the coming months.

What is Matthews International's operating income?

Matthews International's total operating income in 2024 was -$12.32 million, based on the following breakdown:

Total Gross Profit: $529.71 million
Total Operating Expenses: $542.03 million

How has Matthews International revenue changed over the last 2 years?

Over the last 2 years, Matthews International's total revenue changed from $1.76 billion in 2022 to $1.80 billion in 2024, a change of 1.9%.

How much debt does Matthews International have?

Matthews International's total liabilities were at $1.40 billion at the end of 2024, a 2.6% increase from 2023, and a 0.1% increase since 2022.

How much cash does Matthews International have?

In the past 2 years, Matthews International's cash and equivalents has ranged from $40.82 million in 2024 to $69.02 million in 2022, and is currently $40.82 million as of their latest financial filing in 2024.

How has Matthews International's book value per share changed over the last 2 years?

Over the last 2 years, Matthews International's book value per share changed from 15.92 in 2022 to 14.29 in 2024, a change of -10.3%.

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This page (NASDAQ:MATW) was last updated on 5/30/2025 by MarketBeat.com Staff

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Matthews International (MATW) Financials

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Matthews International (MATW) Financials

Annual Income Statements for Matthews International

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