Matthews International (MATW) Financials

$27.77 -0.37 (-1.31%)

Closing price 04:00 PM Eastern

Extended Trading

$27.77 +0.00 (+0.01%)

As of 07:19 PM 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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/30/2015	9/30/2016	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Net Income / (Loss) Attributable to Common Shareholders	63	67	74	107	-38	-87	2.91	-100	39	-60	-24
Consolidated Net Income / (Loss)	63	66	74	107	-39	-88	2.86	-100	39	-60	-24
Net Income / (Loss) Continuing Operations	63	66	74	107	-39	-88	2.86	-100	39	-60	-24
Total Pre-Tax Income	90	95	96	98	0.00	-106	9.23	-104	41	-70	16
Total Operating Income	105	119	121	139	10	-64	42	-44	88	-12	75
Total Gross Profit	529	556	568	584	542	498	542	522	578	530	508
Total Revenue	1,426	1,480	1,516	1,603	1,537	1,498	1,671	1,762	1,881	1,796	1,498
Operating Revenue	1,426	1,480	1,516	1,603	1,537	1,498	1,671	1,762	1,881	1,796	1,498
Total Cost of Revenue	897	924	948	1,018	995	1,001	1,129	1,240	1,303	1,266	990
Operating Cost of Revenue	897	924	948	1,018	995	1,001	1,129	1,240	1,303	1,266	990
Total Operating Expenses	424	438	446	446	532	562	500	566	490	542	487
Selling, General & Admin Expense	424	417	423	414	409	400	416	427	447	488	467
Amortization Expense	-	21	23	32	46	72	84	57	42	37	20
Impairment Charge	-	-	0.00	0.00	78	90	0.00	82	0.00	17	0.00
Total Other Income / (Expense), net	-15	-24	-25	-41	-48	-42	-33	-60	-47	-57	-4.11
Interest Expense	21	24	26	37	41	35	29	28	45	51	63
Other Income / (Expense), net	5.06	-1.30	-1.19	-4.71	-8.92	-9.22	-4.12	-33	-2.56	-6.80	59
Income Tax Expense	26	29	22	-9.12	0.81	-19	6.38	-4.39	1.77	-10.00	41
Net Income / (Loss) Attributable to Noncontrolling Interest	-0.16	-0.59	-0.44	-0.26	-0.90	-0.50	-0.05	-0.05	-0.16	0.00	0.00
Basic Earnings per Share	$1.93	$2.04	$2.31	$3.39	($1.21)	($2.79)	$0.09	($3.18)	$1.28	($1.93)	($0.79)
Weighted Average Basic Shares Outstanding	32.94M	32.64M	32.24M	31.67M	31.34M	31.79M	31.47M	30.30M	30.38M	30.60M	30.80M
Diluted Earnings per Share	$1.91	$2.03	$2.28	$3.37	($1.21)	($2.79)	$0.09	($3.18)	$1.26	($1.93)	($0.79)
Weighted Average Diluted Shares Outstanding	32.94M	32.64M	32.24M	31.67M	31.34M	31.79M	31.47M	30.30M	30.38M	30.60M	30.80M
Weighted Average Basic & Diluted Shares Outstanding	32.94M	32.64M	32.24M	31.67M	31.34M	31.79M	31.47M	30.30M	30.38M	30.60M	30.80M
Cash Dividends to Common per Share	$0.54	-	-	-	-	-	$0.86	$0.88	$0.92	$0.96	$1.00

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	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	18	-2.30	9.03	1.78	-68	-3.47	-8.92	15	-27	44	-22
Consolidated Net Income / (Loss)	18	-2.30	9.03	1.78	-68	-3.47	-8.92	15	-27	44	-22
Net Income / (Loss) Continuing Operations	18	-2.30	9.03	1.78	-68	-3.47	-8.92	15	-27	44	-22
Total Pre-Tax Income	15	-3.03	7.91	-7.05	-67	-5.83	-12	59	-25	84	-28
Total Operating Income	26	9.43	21	6.70	-50	5.67	5.95	75	-11	98	-3.18
Total Gross Profit	151	132	148	132	117	126	144	122	116	100	102
Total Revenue	480	450	471	428	447	402	428	349	319	285	259
Operating Revenue	480	450	471	428	447	402	428	349	319	285	259
Total Cost of Revenue	329	318	323	296	329	276	284	227	203	185	157
Operating Cost of Revenue	329	318	323	296	329	276	284	227	203	185	157
Total Operating Expenses	125	123	127	125	167	120	136	104	125	115	101
Selling, General & Admin Expense	114	113	118	116	141	111	132	100	122	112	99
Amortization Expense	11	9.80	8.96	9.04	9.23	8.61	4.28	3.47	3.71	2.97	2.67
Total Other Income / (Expense), net	-11	-12	-13	-14	-18	-12	-20	41	-16	100	-29
Interest Expense	11	12	13	13	14	16	16	16	16	15	26
Other Income / (Expense), net	0.48	-0.88	-0.88	-0.97	-4.07	4.18	-3.80	57	-0.27	115	-2.44
Income Tax Expense	-2.36	-0.73	-1.12	-8.83	0.68	-2.36	-2.73	43	2.29	41	-6.22
Basic Earnings per Share	$0.58	($0.07)	$0.29	$0.06	($2.21)	($0.11)	($0.29)	$0.50	($0.89)	$1.39	($0.69)
Weighted Average Basic Shares Outstanding	30.38M	30.68M	30.71M	30.60M	30.60M	30.97M	31.01M	30.79M	30.80M	31.13M	31.20M
Diluted Earnings per Share	$0.57	($0.07)	$0.29	$0.06	($2.21)	($0.11)	($0.29)	$0.49	($0.88)	$1.39	($0.69)
Weighted Average Diluted Shares Outstanding	30.38M	30.68M	30.71M	30.60M	30.60M	30.97M	31.01M	30.79M	30.80M	31.13M	31.20M
Weighted Average Basic & Diluted Shares Outstanding	30.38M	30.68M	30.71M	30.60M	30.60M	30.97M	31.01M	30.79M	30.80M	31.13M	31.20M

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/30/2015	9/30/2016	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Net Change in Cash & Equivalents	9.19	-16	1.80	-16	-6.27	6.03	27	3.07	-29	-1.29	-8.38
Net Cash From Operating Activities	141	140	149	148	131	180	163	127	80	79	-24
Net Cash From Continuing Operating Activities	141	140	149	148	131	180	163	127	80	79	-24
Net Income / (Loss) Continuing Operations	63	66	74	107	-39	-88	2.86	-100	39	-60	-24
Consolidated Net Income / (Loss)	63	66	74	107	-39	-88	2.86	-100	39	-60	-24
Depreciation Expense	63	65	68	77	91	119	134	104	97	95	72
Non-Cash Adjustments To Reconcile Net Income	14	9.11	11	6.20	90	88	15	71	0.56	51	-39
Changes in Operating Assets and Liabilities, net	1.12	-0.48	-3.74	-43	-11	61	11	52	-57	-6.60	-32
Net Cash From Investing Activities	-263	-47	-142	-162	-61	-2.72	-13	-81	-59	-47	160
Net Cash From Continuing Investing Activities	-263	-47	-142	-162	-61	-2.72	-13	-81	-59	-47	160
Purchase of Property, Plant & Equipment	-48	-42	-45	-43	-38	-35	-34	-61	-51	-45	-36
Acquisitions	-213	-6.94	-98	-121	-12	-1.00	-16	-44	-15	-5.83	-56
Purchase of Investments	0.00	0.00	-2.21	-12	-33	-9.70	0.00	-2.20	-1.61	-0.83	-0.06
Sale of Property, Plant & Equipment	1.06	1.48	3.76	4.71	13	0.62	2.78	4.96	2.12	4.16	21
Divestitures	10	0.00	0.00	0.00	8.25	42	0.00	0.34	6.70	0.54	230
Sale and/or Maturity of Investments	-	-	-	9.16	0.00	0.00	34	22	0.00	0.20	0.00
Net Cash From Financing Activities	131	-109	-7.18	0.90	-75	-172	-123	-37	-50	-35	-144
Net Cash From Continuing Financing Activities	131	-109	-7.18	0.90	-75	-172	-123	-37	-50	-35	-144
Repayment of Debt	-100	-123	-388	-657	-523	-1,286	-705	-745	-885	-1,286	-1,428
Repurchase of Common Equity	-15	-58	-14	-21	-26	-4.43	-12	-42	-2.86	-21	-12
Payment of Dividends	-19	-25	-22	-25	-26	-26	-29	-28	-28	-31	-33
Issuance of Debt	279	90	417	704	504	1,155	626	778	866	1,245	1,361
Other Financing Activities, net	-15	6.41	0.01	0.00	-4.42	-10	-1.78	-0.73	0.00	58	-32
Effect of Exchange Rate Changes	0.08	-0.77	1.30	-2.08	-1.55	0.56	0.04	-5.72	0.08	1.44	-0.15
Cash Interest Paid	20	24	26	37	41	35	29	27	44	50	51
Cash Income Taxes Paid	12	12	8.47	11	15	21	9.17	14	18	19	17

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	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	2.81	-4.18	7.58	-2.75	-1.93	-7.30	17	-30	12	-1.08	4.73
Net Cash From Operating Activities	2.62	-27	57	13	36	-25	6.33	-15	10	-52	-15
Net Cash From Continuing Operating Activities	2.62	-27	57	13	36	-25	6.33	-15	10	-52	-15
Net Income / (Loss) Continuing Operations	18	-2.30	9.03	1.78	-68	-3.47	-8.92	15	-27	44	-22
Consolidated Net Income / (Loss)	18	-2.30	9.03	1.78	-68	-3.47	-8.92	15	-27	44	-22
Depreciation Expense	25	24	23	24	24	23	18	16	15	13	12
Non-Cash Adjustments To Reconcile Net Income	0.10	4.56	4.10	5.19	37	-4.62	7.83	-48	6.12	-109	33
Changes in Operating Assets and Liabilities, net	-40	-53	21	-17	43	-39	-11	2.07	17	0.22	-38
Net Cash From Investing Activities	-5.01	-14	-16	-8.87	-8.34	1.44	-5.33	157	6.34	237	2.22
Net Cash From Continuing Investing Activities	-5.01	-14	-16	-8.87	-8.34	1.44	-5.33	157	6.34	237	2.22
Purchase of Property, Plant & Equipment	-13	-14	-9.96	-9.15	-12	-9.53	-8.74	-8.12	-9.43	-5.26	-4.04
Sale of Property, Plant & Equipment	-	0.12	-	-	-	13	1.36	0.32	6.32	3.48	0.03
Divestitures	-	-	-	-	-	0.00	-	228	-	240	3.23
Net Cash From Financing Activities	6.16	36	-33	-7.11	-31	18	15	-173	-4.83	-187	18
Net Cash From Continuing Financing Activities	6.16	36	-33	-7.11	-31	18	15	-173	-4.83	-187	18
Repayment of Debt	-240	-212	-243	-237	-595	-219	-226	-553	-429	-375	-637
Repurchase of Common Equity	-0.04	-17	-0.04	-3.31	-0.05	-4.28	-0.15	-7.70	-0.11	-5.16	-0.54
Payment of Dividends	-7.02	-9.28	-7.41	-7.37	-7.35	-9.24	-7.81	-7.69	-8.02	-9.47	-8.06
Issuance of Debt	254	274	217	223	530	251	245	433	432	203	664

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/30/2015	9/30/2016	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Total Assets	2,144	2,091	2,245	2,358	2,191	2,073	2,032	1,883	1,887	1,835	1,694
Total Current Assets	605	574	595	615	584	576	624	629	648	633	520
Cash & Equivalents	72	56	58	42	35	41	49	69	42	41	32
Accounts Receivable	284	295	320	331	319	295	310	221	208	206	133
Inventories, net	171	162	171	180	180	175	189	225	260	238	203
Other Current Assets	77	61	47	62	49	64	76	111	138	148	152
Plant, Property, & Equipment, net	227	219	236	253	237	0.00	224	256	270	279	225
Total Noncurrent Assets	1,311	1,297	1,414	1,490	1,369	1,497	1,184	998	969	923	950
Long-Term Investments	26	31	38	45	86	63	30	26	25	23	289
Goodwill	856	851	898	949	847	765	774	675	698	697	488
Intangible Assets	415	394	424	444	401	333	262	202	160	126	106
Noncurrent Deferred & Refundable Income Taxes	1.28	0.78	2.46	1.84	5.03	3.76	3.49	3.61	2.27	6.55	6.44
Other Noncurrent Operating Assets	14	20	52	50	31	331	115	91	83	70	61
Total Liabilities & Shareholders' Equity	2,144	2,091	2,245	2,358	2,191	2,073	2,032	1,883	1,887	1,835	1,694
Total Liabilities	1,410	1,382	1,454	1,489	1,471	1,461	1,396	1,396	1,362	1,398	1,214
Total Current Liabilities	249	259	285	286	280	317	354	411	395	435	350
Short-Term Debt	12	28	30	31	43	27	4.62	3.28	3.70	6.85	7.23
Accounts Payable	69	58	67	70	75	83	113	121	114	108	98
Accrued Expenses	-	-	-	-	-	-	-	-	22	24	18
Current Deferred & Payable Income Tax Liabilities	11	16	21	11	6.00	3.61	4.24	9.28	13	7.52	9.29
Current Employee Benefit Liabilities	64	64	62	51	43	58	69	58	59	89	36
Other Current Liabilities	93	94	105	122	114	145	164	219	183	199	181
Total Noncurrent Liabilities	1,161	1,122	1,169	1,203	1,191	1,144	1,041	984	968	963	863
Long-Term Debt	891	845	882	929	898	808	759	795	786	770	704
Noncurrent Deferred & Payable Income Tax Liabilities	125	107	139	122	102	79	97	93	71	46	56
Other Noncurrent Operating Liabilities	29	37	26	52	37	89	82	96	110	148	103
Total Equity & Noncontrolling Interests	734	709	790	869	719	611	636	487	525	437	481
Total Preferred & Common Equity	731	709	790	868	718	611	637	487	526	437	481
Total Common Equity	731	709	790	868	718	611	637	487	526	437	481
Common Stock	152	153	160	166	174	172	186	197	205	196	191
Retained Earnings	844	896	949	1,040	973	859	834	707	715	623	565
Treasury Stock	-115	-159	-165	-173	-200	-179	-191	-226	-219	-213	-197
Accumulated Other Comprehensive Income / (Loss)	-150	-182	-154	-164	-228	-241	-193	-190	-174	-169	-78

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 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	12/31/2022	3/31/2023	6/30/2023	12/31/2023	3/31/2024	6/30/2024	12/31/2024	3/31/2025	6/30/2025	12/31/2025	3/31/2026
Total Assets	1,903	1,897	1,884	1,903	1,890	1,862	1,792	1,827	1,706	1,553	1,531
Total Current Assets	633	618	620	658	654	642	623	654	516	489	480
Cash & Equivalents	43	42	39	38	45	43	34	40	20	31	36
Accounts Receivable	222	216	188	216	193	193	199	146	159	115	101
Inventories, net	246	255	269	258	253	249	242	205	211	192	196
Other Current Assets	121	106	123	146	163	158	149	263	126	150	147
Plant, Property, & Equipment, net	265	268	274	282	278	273	265	222	231	191	186
Total Noncurrent Assets	1,005	1,011	991	963	959	947	904	950	959	872	866
Long-Term Investments	26	24	25	25	27	27	23	22	285	287	276
Goodwill	692	709	703	709	708	706	686	473	516	432	433
Intangible Assets	194	190	175	151	144	135	117	87	84	94	92
Noncurrent Deferred & Refundable Income Taxes	3.16	2.89	2.68	2.40	2.32	2.08	6.12	7.83	8.18	5.80	5.76
Other Noncurrent Operating Assets	90	85	85	75	78	77	72	360	66	54	59
Total Liabilities & Shareholders' Equity	1,903	1,897	1,884	1,903	1,890	1,862	1,792	1,827	1,706	1,553	1,531
Total Liabilities	1,398	1,385	1,362	1,394	1,381	1,358	1,378	1,419	1,192	1,010	1,019
Total Current Liabilities	367	394	380	349	359	386	396	411	311	325	293
Short-Term Debt	2.98	2.83	2.94	4.95	5.42	5.48	7.26	6.36	6.38	7.27	7.30
Accounts Payable	101	118	112	97	107	114	102	108	98	95	102
Accrued Expenses	-	-	-	-	-	-	23	18	18	18	15
Current Deferred & Payable Income Tax Liabilities	7.58	5.14	3.87	7.52	4.04	10	7.87	4.61	7.64	37	24
Current Employee Benefit Liabilities	43	46	49	44	45	47	60	40	35	25	24
Other Current Liabilities	212	222	212	195	198	210	195	234	146	143	121
Total Noncurrent Liabilities	1,031	990	982	1,045	1,022	972	983	1,008	881	685	726
Long-Term Debt	834	775	772	857	837	825	802	816	696	530	572
Noncurrent Deferred & Payable Income Tax Liabilities	93	92	92	72	70	45	47	30	59	67	59
Other Noncurrent Operating Liabilities	78	123	118	116	115	102	134	162	126	88	95
Total Equity & Noncontrolling Interests	505	512	522	509	509	504	413	408	514	543	512
Total Preferred & Common Equity	505	513	522	509	509	504	413	408	514	543	512
Total Common Equity	505	513	522	509	509	504	413	408	514	543	512
Common Stock	194	196	201	183	187	192	181	185	188	176	178
Retained Earnings	702	703	704	704	705	699	611	594	601	601	570
Treasury Stock	-221	-220	-219	-211	-210	-213	-197	-196	-198	-183	-181
Accumulated Other Comprehensive Income / (Loss)	-169	-167	-164	-168	-173	-174	-181	-175	-78	-50	-55

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/30/2015	9/30/2016	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	28.87%	3.81%	2.37%	5.74%	-4.07%	-2.54%	11.53%	5.47%	6.72%	-4.53%	-16.60%
EBITDA Growth	44.52%	5.96%	2.83%	12.04%	-56.28%	-50.48%	275.58%	-83.92%	560.65%	-58.46%	172.30%
EBIT Growth	43.64%	6.75%	2.27%	11.37%	-98.97%	-5,400.65%	151.65%	-301.74%	211.85%	-122.35%	802.00%
NOPAT Growth	38.87%	11.34%	12.91%	62.50%	-95.24%	-723.05%	128.96%	-336.38%	374.08%	-110.23%	-1,220.56%
Net Income Growth	46.26%	4.54%	11.75%	44.88%	-136.31%	-125.39%	103.26%	-3,592.93%	139.20%	-252.44%	58.98%
EPS Growth	28.19%	6.28%	12.32%	47.81%	-135.91%	-130.58%	103.23%	-3,633.33%	139.62%	-253.17%	59.07%
Operating Cash Flow Growth	55.56%	-0.56%	6.43%	-1.16%	-11.17%	37.66%	-9.77%	-22.08%	-37.31%	-0.30%	-129.70%
Free Cash Flow Firm Growth	90.90%	371.29%	-114.33%	184.31%	1,271.34%	-27.37%	-77.82%	199.42%	-76.18%	272.10%	83.59%
Invested Capital Growth	8.53%	-2.89%	7.45%	8.47%	-11.66%	-12.85%	-1.56%	-10.01%	5.06%	-7.90%	-24.27%
Revenue Q/Q Growth	1.31%	0.59%	1.27%	0.72%	-0.97%	0.45%	2.43%	1.05%	1.24%	-1.83%	-7.87%
EBITDA Q/Q Growth	13.48%	4.71%	-3.94%	11.41%	-53.09%	216.74%	-2.17%	-77.78%	128.37%	-51.72%	19.12%
EBIT Q/Q Growth	21.94%	6.89%	-6.75%	16.38%	-98.80%	53.40%	-18.76%	-1,021.17%	635.64%	-131.09%	45.88%
NOPAT Q/Q Growth	21.03%	7.62%	2.65%	1.21%	-92.56%	55.61%	-65.25%	-220.29%	1,171.19%	-106.79%	-539.43%
Net Income Q/Q Growth	24.14%	11.08%	-5.19%	10.28%	-162.58%	47.37%	-79.48%	-342.91%	165.76%	-327.76%	62.45%
EPS Q/Q Growth	27.33%	12.15%	-5.79%	11.22%	-161.42%	47.26%	-80.00%	-354.29%	166.32%	-327.06%	62.74%
Operating Cash Flow Q/Q Growth	8.01%	2.29%	8.48%	8.24%	-14.98%	9.18%	-0.54%	-9.59%	-33.40%	72.52%	-1,240.44%
Free Cash Flow Firm Q/Q Growth	89.07%	236.25%	-108.44%	131.27%	43.08%	-38.05%	-53.03%	41.76%	-34.18%	-5.22%	-56.50%
Invested Capital Q/Q Growth	14.60%	-1.21%	-0.40%	-0.76%	-9.76%	-1.20%	-0.18%	-6.94%	1.30%	-9.06%	-4.38%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	37.12%	37.59%	37.46%	36.46%	35.29%	33.22%	32.43%	29.63%	30.71%	29.50%	33.89%
EBITDA Margin	12.11%	12.36%	12.42%	13.16%	6.00%	3.05%	10.26%	1.56%	9.68%	4.21%	13.75%
Operating Margin	7.36%	8.03%	8.01%	8.65%	0.67%	-4.28%	2.52%	-2.49%	4.68%	-0.69%	5.04%
EBIT Margin	7.72%	7.94%	7.93%	8.35%	0.09%	-4.90%	2.27%	-4.34%	4.55%	-1.06%	8.96%
Profit (Net Income) Margin	4.44%	4.47%	4.88%	6.68%	-2.53%	-5.85%	0.17%	-5.66%	2.08%	-3.32%	-1.63%
Tax Burden Percent	70.59%	69.47%	76.78%	109.30%	0.00%	82.43%	30.95%	95.79%	95.66%	85.65%	-150.97%
Interest Burden Percent	81.44%	81.04%	80.11%	73.21%	0.00%	144.85%	24.35%	136.24%	47.82%	364.26%	12.07%
Effective Tax Rate	29.41%	30.53%	23.22%	-9.30%	0.00%	0.00%	69.05%	0.00%	4.34%	0.00%	250.97%
Return on Invested Capital (ROIC)	5.01%	5.44%	6.01%	9.05%	0.44%	-3.12%	0.98%	-2.45%	6.92%	-0.72%	-11.28%
ROIC Less NNEP Spread (ROIC-NNEP)	3.52%	3.38%	3.60%	3.80%	-5.00%	-8.63%	-0.46%	-12.42%	0.58%	-7.83%	4.95%
Return on Net Nonoperating Assets (RNNOA)	3.37%	3.73%	3.85%	3.87%	-5.34%	-10.05%	-0.52%	-15.32%	0.81%	-11.68%	5.95%
Return on Equity (ROE)	8.39%	9.17%	9.86%	12.91%	-4.90%	-13.17%	0.46%	-17.77%	7.73%	-12.40%	-5.33%
Cash Return on Invested Capital (CROIC)	-3.17%	8.37%	-1.17%	0.92%	12.82%	10.61%	2.55%	8.09%	1.98%	7.50%	16.35%
Operating Return on Assets (OROA)	5.28%	5.55%	5.54%	5.82%	0.06%	-3.44%	1.85%	-3.91%	4.54%	-1.03%	7.61%
Return on Assets (ROA)	3.04%	3.12%	3.41%	4.65%	-1.71%	-4.11%	0.14%	-5.10%	2.08%	-3.21%	-1.39%
Return on Common Equity (ROCE)	8.35%	9.14%	9.85%	12.91%	-4.89%	-13.16%	0.46%	-17.78%	7.74%	-12.40%	-5.33%
Return on Equity Simple (ROE_SIMPLE)	8.66%	9.34%	9.36%	12.34%	-5.42%	-14.35%	0.45%	-20.48%	7.45%	-13.65%	0.00%
Net Operating Profit after Tax (NOPAT)	74	83	93	151	7.21	-45	13	-31	84	-8.63	-114
NOPAT Margin	5.20%	5.58%	6.15%	9.45%	0.47%	-3.00%	0.78%	-1.75%	4.48%	-0.48%	-7.61%
Net Nonoperating Expense Percent (NNEP)	1.50%	2.06%	2.41%	5.25%	5.44%	5.51%	1.44%	9.97%	6.34%	7.11%	-16.23%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-	-	-9.56%
Cost of Revenue to Revenue	62.88%	62.41%	62.54%	63.55%	64.71%	66.78%	67.58%	70.37%	69.29%	70.50%	66.11%
SG&A Expenses to Revenue	29.76%	28.15%	27.92%	25.84%	26.59%	26.70%	24.87%	24.21%	23.79%	27.19%	31.20%
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	29.76%	29.56%	29.45%	27.81%	34.62%	37.51%	29.91%	32.13%	26.03%	30.18%	32.54%
Earnings before Interest and Taxes (EBIT)	110	118	120	134	1.39	-73	38	-76	86	-19	134
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	173	183	188	211	92	46	171	28	182	76	206
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.82	2.29	2.13	1.58	1.35	1.03	1.58	1.33	2.18	1.62	1.55
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)	0.93	1.10	1.11	0.86	0.63	0.42	0.60	0.37	0.61	0.40	0.50
Price to Earnings (P/E)	20.91	24.29	22.61	12.76	0.00	0.00	346.23	0.00	29.22	0.00	0.00
Dividend Yield	1.29%	1.19%	1.30%	1.78%	2.60%	4.19%	2.70%	4.16%	2.44%	4.14%	4.12%
Earnings Yield	4.78%	4.12%	4.42%	7.84%	0.00%	0.00%	0.29%	0.00%	3.42%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.39	1.61	1.56	1.29	1.16	1.01	1.28	1.14	1.50	1.24	1.31
Enterprise Value to Revenue (EV/Rev)	1.50	1.63	1.65	1.40	1.16	0.91	1.01	0.77	0.99	0.79	0.76
Enterprise Value to EBITDA (EV/EBITDA)	12.36	13.16	13.28	10.65	19.41	29.73	9.87	48.94	10.27	18.80	5.52
Enterprise Value to EBIT (EV/EBIT)	19.40	20.49	20.79	16.77	1,292.09	0.00	44.61	0.00	21.87	0.00	8.47
Enterprise Value to NOPAT (EV/NOPAT)	28.80	29.17	26.81	14.82	248.13	0.00	130.00	0.00	22.19	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	15.14	17.16	16.73	15.21	13.65	7.52	10.39	10.63	23.53	17.94	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	18.96	0.00	146.28	8.51	8.88	49.90	13.29	77.38	15.81	6.89
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.23	1.23	1.15	1.11	1.31	1.36	1.20	1.64	1.50	1.78	1.48
Long-Term Debt to Equity	1.21	1.19	1.12	1.07	1.25	1.32	1.19	1.63	1.50	1.76	1.46
Financial Leverage	0.96	1.10	1.07	1.02	1.07	1.16	1.13	1.23	1.41	1.49	1.20
Leverage Ratio	2.76	2.93	2.89	2.77	2.86	3.20	3.29	3.48	3.72	3.87	3.84
Compound Leverage Factor	2.25	2.38	2.32	2.03	0.00	4.64	0.80	4.75	1.78	14.09	0.46
Debt to Total Capital	55.16%	55.16%	53.55%	52.51%	56.67%	57.71%	54.55%	62.11%	60.07%	63.98%	59.64%
Short-Term Debt to Total Capital	0.72%	1.75%	1.74%	1.71%	2.56%	1.86%	0.33%	0.25%	0.28%	0.56%	0.61%
Long-Term Debt to Total Capital	54.44%	53.41%	51.82%	50.80%	54.11%	55.86%	54.22%	61.86%	59.79%	63.41%	59.04%
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	0.20%	0.04%	0.03%	0.02%	0.07%	0.04%	-0.01%	-0.02%	-0.03%	0.00%	0.00%
Common Equity to Total Capital	44.64%	44.80%	46.42%	47.47%	43.26%	42.24%	45.46%	37.91%	39.96%	36.02%	40.36%
Debt to EBITDA	5.23	4.77	4.84	4.56	10.21	18.28	4.46	28.97	4.34	10.26	3.45
Net Debt to EBITDA	4.66	4.29	4.34	4.14	8.89	15.99	3.99	25.44	3.97	9.42	1.89
Long-Term Debt to EBITDA	5.16	4.62	4.69	4.41	9.74	17.70	4.43	28.85	4.32	10.17	3.42
Debt to NOPAT	12.18	10.57	9.78	6.34	130.43	-18.57	58.70	-25.96	9.37	-90.01	-6.24
Net Debt to NOPAT	10.86	9.52	8.76	5.77	113.68	-16.24	52.58	-22.80	8.58	-82.61	-3.42
Long-Term Debt to NOPAT	12.02	10.23	9.46	6.14	124.54	-17.98	58.34	-25.86	9.33	-89.22	-6.18
Altman Z-Score	2.15	2.38	2.30	2.20	1.89	1.59	2.05	1.74	2.34	1.85	2.10
Noncontrolling Interest Sharing Ratio	0.48%	0.27%	0.08%	0.06%	0.09%	0.13%	0.04%	-0.04%	-0.07%	-0.04%	0.01%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.43	2.21	2.09	2.15	2.09	1.82	1.76	1.53	1.64	1.45	1.48
Quick Ratio	1.43	1.35	1.32	1.30	1.27	1.06	1.01	0.71	0.63	0.57	0.47
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-47	127	-18	15	210	153	34	101	24	90	165
Operating Cash Flow to CapEx	298.93%	348.91%	362.63%	383.36%	536.46%	527.24%	516.25%	225.06%	164.04%	193.08%	-161.66%
Free Cash Flow to Firm to Interest Expense	-2.27	5.22	-0.69	0.41	5.14	4.38	1.18	3.66	0.54	1.78	2.63
Operating Cash Flow to Interest Expense	6.84	5.76	5.66	3.94	3.20	5.17	5.68	4.58	1.78	1.57	-0.37
Operating Cash Flow Less CapEx to Interest Expense	4.55	4.11	4.10	2.91	2.60	4.19	4.58	2.54	0.70	0.76	-0.61
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.68	0.70	0.70	0.70	0.68	0.70	0.81	0.90	1.00	0.96	0.85
Accounts Receivable Turnover	5.03	5.11	4.93	4.92	4.73	4.88	5.52	6.64	8.78	8.69	8.84
Inventory Turnover	5.53	5.53	5.68	5.79	5.52	5.63	6.20	5.98	5.36	5.08	4.49
Fixed Asset Turnover	6.53	6.63	6.66	6.56	6.27	0.00	0.00	7.35	7.15	6.53	5.94
Accounts Payable Turnover	12.72	14.55	15.20	14.90	13.76	12.71	11.54	10.60	11.06	11.37	9.57
Days Sales Outstanding (DSO)	72.52	71.36	73.99	74.14	77.19	74.78	66.07	54.97	41.58	42.02	41.30
Days Inventory Outstanding (DIO)	66.00	65.95	64.29	63.06	66.18	64.82	58.86	61.00	68.04	71.83	81.24
Days Payable Outstanding (DPO)	28.68	25.09	24.02	24.49	26.53	28.72	31.62	34.45	33.00	32.10	38.12
Cash Conversion Cycle (CCC)	109.83	112.22	114.27	112.71	116.84	110.88	93.31	81.52	76.61	81.76	84.41
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,539	1,495	1,606	1,742	1,539	1,341	1,320	1,188	1,248	1,150	871
Invested Capital Turnover	0.96	0.98	0.98	0.96	0.94	1.04	1.26	1.41	1.54	1.50	1.48
Increase / (Decrease) in Invested Capital	121	-44	111	136	-203	-198	-21	-132	60	-99	-279
Enterprise Value (EV)	2,135	2,408	2,498	2,244	1,790	1,357	1,691	1,349	1,871	1,422	1,137
Market Capitalization	1,327	1,621	1,682	1,370	969	626	1,008	648	1,148	710	748
Book Value per Share	$22.17	$22.07	$24.54	$27.05	$22.81	$19.54	$20.14	$15.92	$17.25	$14.29	$15.62
Tangible Book Value per Share	($16.38)	($16.71)	($16.54)	($16.34)	($16.81)	($15.61)	($12.61)	($12.75)	($10.93)	($12.62)	($3.66)
Total Capital	1,637	1,582	1,701	1,829	1,660	1,446	1,400	1,286	1,315	1,214	1,192
Total Debt	903	873	911	961	941	835	764	799	790	776	711
Total Long-Term Debt	891	845	882	929	898	808	759	795	786	770	704
Net Debt	805	785	816	874	820	730	684	701	723	713	390
Capital Expenditures (CapEx)	47	40	41	38	24	34	32	56	48	41	15
Debt-free, Cash-free Net Working Capital (DFCFNWC)	296	287	282	318	311	244	225	149	215	164	144
Debt-free Net Working Capital (DFNWC)	368	343	339	360	346	286	275	221	257	205	177
Net Working Capital (NWC)	356	315	310	329	304	259	270	217	254	198	170
Net Nonoperating Expense (NNE)	11	16	19	44	46	43	10	69	45	51	-89
Net Nonoperating Obligations (NNO)	805	785	816	874	820	730	684	701	723	713	390
Total Depreciation and Amortization (D&A)	63	65	68	77	91	119	134	104	97	95	72
Debt-free, Cash-free Net Working Capital to Revenue	20.74%	19.38%	18.60%	19.87%	20.23%	16.30%	13.49%	8.46%	11.44%	9.12%	9.65%
Debt-free Net Working Capital to Revenue	25.80%	23.14%	22.40%	22.46%	22.53%	19.06%	16.43%	12.51%	13.68%	11.39%	11.81%
Net Working Capital to Revenue	24.97%	21.27%	20.45%	20.51%	19.76%	17.27%	16.15%	12.33%	13.49%	11.01%	11.33%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.93	$2.04	$2.31	$3.39	($1.21)	($2.79)	$0.09	($3.18)	$1.28	($1.93)	($0.79)
Adjusted Weighted Average Basic Shares Outstanding	32.88M	32.14M	32.15M	32.07M	31.34M	31.79M	31.47M	30.30M	30.38M	30.60M	30.80M
Adjusted Diluted Earnings per Share	$1.91	$2.03	$2.28	$3.37	($1.21)	($2.79)	$0.09	($3.18)	$1.26	($1.93)	($0.79)
Adjusted Weighted Average Diluted Shares Outstanding	32.88M	32.14M	32.15M	32.07M	31.34M	31.79M	31.47M	30.30M	30.38M	30.60M	30.80M
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	32.88M	32.14M	32.15M	32.07M	31.34M	31.79M	31.47M	30.30M	30.38M	30.60M	30.80M
Normalized Net Operating Profit after Tax (NOPAT)	74	83	93	97	62	18	29	27	84	3.08	53
Normalized NOPAT Margin	5.20%	5.58%	6.15%	6.05%	4.00%	1.22%	1.76%	1.53%	4.48%	0.17%	3.53%
Pre Tax Income Margin	6.29%	6.43%	6.35%	6.11%	0.00%	-7.10%	0.55%	-5.91%	2.18%	-3.88%	1.08%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	5.34	4.83	4.56	3.58	0.03	-2.10	1.32	-2.76	1.92	-0.38	2.13
NOPAT to Interest Expense	3.60	3.39	3.53	4.05	0.18	-1.29	0.45	-1.11	1.89	-0.17	-1.81
EBIT Less CapEx to Interest Expense	3.05	3.18	3.00	2.55	-0.56	-3.09	0.22	-4.79	0.83	-1.19	1.90
NOPAT Less CapEx to Interest Expense	1.31	1.74	1.97	3.02	-0.42	-2.27	-0.65	-3.14	0.80	-0.98	-2.04
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	29.63%	37.75%	29.43%	23.00%	-65.88%	-30.16%	1,030.93%	-27.73%	72.06%	-52.65%	-133.87%
Augmented Payout Ratio	52.65%	125.42%	48.40%	42.78%	-133.06%	-35.21%	1,445.84%	-69.52%	79.36%	-87.13%	-183.84%

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

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	31,202,438.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	31,202,438.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-0.70
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	5.04%	0.17%	-1.74%	-9.34%	-6.97%	-10.70%	-9.25%	-18.34%	-28.62%	-29.14%	-39.52%
EBITDA Growth	201.31%	-17.56%	-10.25%	-31.62%	-157.31%	0.89%	-48.64%	402.41%	112.02%	595.25%	-71.06%
EBIT Growth	135.85%	-43.67%	-16.71%	-69.91%	-300.98%	15.27%	-79.36%	2,200.93%	78.41%	2,054.49%	-361.10%
NOPAT Growth	159.39%	-47.92%	44.82%	-79.61%	-214.75%	-39.81%	-82.90%	318.96%	77.18%	1,169.01%	-153.38%
Net Income Growth	121.85%	-163.15%	-1.07%	-79.51%	-485.24%	-50.76%	-198.77%	765.90%	59.70%	1,356.60%	-144.89%
EPS Growth	122.01%	-158.33%	0.00%	-78.57%	-487.72%	-57.14%	-200.00%	716.67%	60.18%	1,363.64%	-137.93%
Operating Cash Flow Growth	-93.84%	24.73%	-29.44%	-58.08%	1,273.03%	8.28%	-88.92%	-212.63%	-71.26%	-107.89%	-343.96%
Free Cash Flow Firm Growth	-136.68%	-130.26%	-141.43%	-140.49%	314.27%	569.57%	477.06%	1,464.42%	325.33%	212.90%	232.84%
Invested Capital Growth	5.06%	2.96%	4.50%	2.60%	-7.90%	-10.82%	-8.75%	-27.98%	-24.27%	-34.70%	-33.28%
Revenue Q/Q Growth	1.75%	-6.29%	4.72%	-9.21%	4.41%	-10.04%	6.42%	-18.30%	-8.74%	-10.69%	-9.18%
EBITDA Q/Q Growth	19.87%	-37.74%	36.30%	-32.77%	-200.46%	209.61%	-30.61%	557.55%	-97.60%	6,240.36%	-97.38%
EBIT Q/Q Growth	40.74%	-68.10%	139.27%	-71.99%	-1,040.08%	118.30%	-57.16%	3,022.41%	-108.82%	1,925.58%	-102.64%
NOPAT Q/Q Growth	32.01%	-78.27%	269.08%	-80.74%	-842.76%	111.40%	4.83%	372.06%	-140.46%	733.83%	-104.41%
Net Income Q/Q Growth	104.05%	-113.02%	491.97%	-80.31%	-3,935.73%	94.91%	-156.80%	272.58%	-278.53%	258.82%	-150.04%
EPS Q/Q Growth	103.57%	-112.28%	514.29%	-79.31%	-3,783.33%	95.02%	-163.64%	268.97%	-279.59%	257.95%	-149.64%
Operating Cash Flow Q/Q Growth	-91.87%	-1,141.48%	309.44%	-76.37%	166.37%	-169.57%	125.30%	-340.20%	167.97%	-603.26%	70.31%
Free Cash Flow Firm Q/Q Growth	-144.00%	-4.13%	0.60%	11.11%	332.89%	128.20%	-20.18%	221.64%	-27.40%	67.88%	-15.10%
Invested Capital Q/Q Growth	1.30%	4.78%	-2.16%	-1.21%	-9.06%	1.46%	0.12%	-22.04%	-4.38%	-12.51%	2.29%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	31.41%	29.41%	31.45%	30.82%	26.27%	31.28%	33.70%	34.91%	36.33%	35.00%	39.43%
EBITDA Margin	10.73%	7.13%	9.28%	6.87%	-6.61%	8.05%	5.25%	42.26%	1.11%	79.00%	2.28%
Operating Margin	5.48%	2.10%	4.53%	1.57%	-11.14%	1.41%	1.39%	21.52%	-3.56%	34.25%	-1.23%
EBIT Margin	5.58%	1.90%	4.34%	1.34%	-12.05%	2.45%	0.99%	37.72%	-3.65%	74.54%	-2.17%
Profit (Net Income) Margin	3.68%	-0.51%	1.92%	0.42%	-15.26%	-0.86%	-2.09%	4.40%	-8.62%	15.32%	-8.44%
Tax Burden Percent	115.41%	76.03%	114.19%	-25.20%	101.01%	59.55%	76.57%	26.14%	109.09%	51.68%	77.84%
Interest Burden Percent	57.22%	-35.44%	38.66%	-123.11%	125.32%	-59.18%	-275.86%	44.66%	216.57%	39.77%	499.93%
Effective Tax Rate	-15.41%	0.00%	-14.19%	0.00%	0.00%	0.00%	0.00%	73.86%	0.00%	48.32%	0.00%
Return on Invested Capital (ROIC)	9.76%	2.14%	7.73%	1.61%	-11.68%	1.40%	1.36%	8.41%	-3.70%	25.35%	-1.07%
ROIC Less NNEP Spread (ROIC-NNEP)	7.98%	1.00%	5.66%	1.21%	-16.32%	0.44%	-0.35%	7.67%	-7.24%	23.95%	-4.89%
Return on Net Nonoperating Assets (RNNOA)	11.23%	1.55%	8.22%	1.74%	-24.35%	0.74%	-0.59%	8.73%	-8.69%	24.33%	-5.45%
Return on Equity (ROE)	21.00%	3.69%	15.95%	3.34%	-36.03%	2.13%	0.77%	17.14%	-12.39%	49.67%	-6.52%
Cash Return on Invested Capital (CROIC)	1.98%	3.36%	2.93%	7.60%	7.50%	10.53%	7.35%	34.92%	16.35%	45.67%	41.68%
Operating Return on Assets (OROA)	5.57%	1.88%	4.29%	1.31%	-11.63%	2.32%	0.90%	34.37%	-3.09%	61.54%	-1.57%
Return on Assets (ROA)	3.68%	-0.51%	1.89%	0.41%	-14.72%	-0.82%	-1.91%	4.01%	-7.31%	12.65%	-6.09%
Return on Common Equity (ROCE)	21.01%	3.69%	15.96%	3.34%	-36.04%	2.13%	0.77%	17.13%	-12.39%	49.67%	-6.52%
Return on Equity Simple (ROE_SIMPLE)	0.00%	6.52%	6.50%	5.20%	0.00%	-14.71%	-19.30%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	30	6.60	24	4.69	-35	3.97	4.16	20	-7.95	50	-2.22
NOPAT Margin	6.32%	1.47%	5.17%	1.10%	-7.80%	0.99%	0.97%	5.63%	-2.49%	17.70%	-0.86%
Net Nonoperating Expense Percent (NNEP)	1.78%	1.14%	2.07%	0.40%	4.64%	0.96%	1.71%	0.74%	3.54%	1.39%	3.82%
Return On Investment Capital (ROIC_SIMPLE)	-	0.48%	-	-	-	0.32%	0.34%	1.62%	-0.67%	4.67%	-0.20%
Cost of Revenue to Revenue	68.59%	70.59%	68.55%	69.18%	73.73%	68.72%	66.30%	65.09%	63.67%	65.00%	60.57%
SG&A Expenses to Revenue	23.73%	25.14%	25.02%	27.14%	31.60%	27.72%	31.31%	28.74%	38.11%	39.47%	38.10%
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	25.93%	27.32%	26.92%	29.25%	37.41%	29.87%	32.31%	29.73%	39.28%	40.51%	39.14%
Earnings before Interest and Taxes (EBIT)	27	8.55	20	5.73	-54	9.85	4.22	132	-12	212	-5.61
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	52	32	44	29	-30	32	22	148	3.55	225	5.90
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.18	2.12	1.84	1.51	1.62	2.05	1.69	1.44	1.55	1.48	1.57
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	45.55	0.00
Price to Revenue (P/Rev)	0.61	0.57	0.50	0.42	0.40	0.48	0.40	0.46	0.50	0.58	0.66
Price to Earnings (P/E)	29.22	32.44	28.23	29.07	0.00	0.00	0.00	0.00	0.00	35.55	82.75
Dividend Yield	2.44%	2.62%	3.08%	3.83%	4.14%	3.50%	4.41%	4.14%	4.12%	3.85%	3.91%
Earnings Yield	3.42%	3.08%	3.54%	3.44%	0.00%	0.00%	0.00%	0.00%	0.00%	2.81%	1.21%
Enterprise Value to Invested Capital (EV/IC)	1.50	1.44	1.33	1.20	1.24	1.37	1.24	1.25	1.31	1.34	1.37
Enterprise Value to Revenue (EV/Rev)	0.99	1.00	0.91	0.83	0.79	0.92	0.85	0.70	0.76	0.74	0.88
Enterprise Value to EBITDA (EV/EBITDA)	10.27	10.72	10.03	9.72	18.80	21.07	26.49	6.58	5.52	2.57	2.79
Enterprise Value to EBIT (EV/EBIT)	21.87	23.81	22.82	24.76	0.00	0.00	0.00	12.37	8.47	3.04	3.26
Enterprise Value to NOPAT (EV/NOPAT)	22.19	23.21	18.59	11.99	0.00	0.00	0.00	43.90	0.00	28.76	62.76
Enterprise Value to Operating Cash Flow (EV/OCF)	23.53	21.24	26.41	33.14	17.94	19.63	47.09	551.15	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	77.38	43.32	46.55	16.05	15.81	12.29	16.11	3.00	6.89	2.32	2.64
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.50	1.69	1.65	1.65	1.78	1.96	2.01	1.37	1.48	0.99	1.13
Long-Term Debt to Equity	1.50	1.69	1.64	1.64	1.76	1.94	2.00	1.35	1.46	0.98	1.12
Financial Leverage	1.41	1.54	1.45	1.43	1.49	1.68	1.67	1.14	1.20	1.02	1.12
Leverage Ratio	3.72	3.75	3.71	3.65	3.87	4.01	4.05	3.51	3.84	3.50	3.65
Compound Leverage Factor	2.13	-1.33	1.43	-4.50	4.85	-2.37	-11.18	1.57	8.33	1.39	18.24
Debt to Total Capital	60.07%	62.89%	62.33%	62.24%	63.98%	66.18%	66.82%	57.76%	59.64%	49.71%	53.07%
Short-Term Debt to Total Capital	0.28%	0.36%	0.40%	0.41%	0.56%	0.59%	0.52%	0.52%	0.61%	0.67%	0.67%
Long-Term Debt to Total Capital	59.79%	62.53%	61.93%	61.83%	63.41%	65.59%	66.30%	57.23%	59.04%	49.04%	52.40%
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	-0.03%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	39.96%	37.10%	37.67%	37.76%	36.02%	33.81%	33.18%	42.24%	40.36%	50.29%	46.93%
Debt to EBITDA	4.34	4.92	4.95	5.30	10.26	10.66	15.04	4.06	3.45	1.35	1.51
Net Debt to EBITDA	3.97	4.56	4.53	4.86	9.42	9.92	13.89	2.29	1.89	0.55	0.70
Long-Term Debt to EBITDA	4.32	4.89	4.92	5.26	10.17	10.56	14.92	4.03	3.42	1.33	1.49
Debt to NOPAT	9.37	10.65	9.18	6.54	-90.01	-71.91	-37.34	27.10	-6.24	15.10	33.95
Net Debt to NOPAT	8.58	9.87	8.39	5.99	-82.61	-66.92	-34.50	15.30	-3.42	6.15	15.65
Long-Term Debt to NOPAT	9.33	10.59	9.12	6.50	-89.22	-71.26	-37.05	26.85	-6.18	14.90	33.53
Altman Z-Score	2.24	2.18	2.14	2.02	1.79	1.99	1.85	2.22	1.82	2.49	1.92
Noncontrolling Interest Sharing Ratio	-0.07%	-0.03%	-0.03%	-0.03%	-0.04%	0.01%	0.01%	0.00%	0.01%	0.01%	0.01%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.64	1.88	1.82	1.66	1.45	1.58	1.59	1.66	1.48	1.51	1.64
Quick Ratio	0.63	0.73	0.66	0.61	0.57	0.59	0.45	0.58	0.47	0.45	0.47
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-30	-31	-31	-27	64	145	116	373	271	455	386
Operating Cash Flow to CapEx	19.41%	-195.47%	573.36%	147.53%	298.60%	0.00%	85.75%	-194.87%	332.72%	-2,919.26%	-384.70%
Free Cash Flow to Firm to Interest Expense	-2.60	-2.68	-2.45	-2.14	4.68	9.28	7.32	23.59	17.47	31.11	14.65
Operating Cash Flow to Interest Expense	0.23	-2.36	4.55	1.06	2.64	-1.59	0.40	-0.96	0.67	-3.55	-0.59
Operating Cash Flow Less CapEx to Interest Expense	-0.95	-3.56	3.76	0.34	1.75	-1.36	-0.07	-1.45	0.47	-3.67	-0.74
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.00	0.99	0.99	0.98	0.96	0.95	0.92	0.91	0.85	0.83	0.72
Accounts Receivable Turnover	8.78	8.59	9.16	9.60	8.69	8.41	10.06	9.24	8.84	8.77	9.82
Inventory Turnover	5.36	5.21	5.13	4.90	5.08	4.90	5.17	4.86	4.49	4.14	3.85
Fixed Asset Turnover	7.15	6.89	6.86	6.69	6.53	6.39	6.81	6.46	5.94	6.05	5.94
Accounts Payable Turnover	11.06	13.20	11.58	11.24	11.37	12.29	11.03	10.54	9.57	9.15	7.34
Days Sales Outstanding (DSO)	41.58	42.48	39.83	38.02	42.02	43.41	36.29	39.49	41.30	41.61	37.19
Days Inventory Outstanding (DIO)	68.04	70.10	71.10	74.56	71.83	74.43	70.62	75.06	81.24	88.09	94.81
Days Payable Outstanding (DPO)	33.00	27.66	31.51	32.49	32.10	29.70	33.10	34.62	38.12	39.91	49.70
Cash Conversion Cycle (CCC)	76.61	84.93	79.42	80.10	81.76	88.15	73.81	79.93	84.41	89.79	82.29
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,248	1,308	1,280	1,264	1,150	1,167	1,168	911	871	762	779
Invested Capital Turnover	1.54	1.46	1.50	1.47	1.50	1.41	1.39	1.49	1.48	1.43	1.24
Increase / (Decrease) in Invested Capital	60	38	55	32	-99	-141	-112	-354	-279	-405	-389
Enterprise Value (EV)	1,871	1,879	1,707	1,523	1,422	1,600	1,448	1,138	1,137	1,023	1,071
Market Capitalization	1,148	1,080	937	762	710	847	689	741	748	804	804
Book Value per Share	$17.25	$16.58	$16.60	$16.40	$14.29	$13.51	$13.18	$16.57	$15.62	$17.64	$16.46
Tangible Book Value per Share	($10.93)	($11.46)	($11.16)	($10.99)	($12.62)	($12.73)	($4.90)	($2.78)	($3.66)	$0.57	($0.42)
Total Capital	1,315	1,371	1,352	1,334	1,214	1,223	1,230	1,216	1,192	1,080	1,091
Total Debt	790	862	843	830	776	809	822	702	711	537	579
Total Long-Term Debt	786	857	837	825	770	802	816	696	704	530	572
Net Debt	723	799	770	761	713	753	760	397	390	219	267
Capital Expenditures (CapEx)	13	14	9.96	9.15	12	-3.72	7.38	7.80	3.11	1.78	4.01
Debt-free, Cash-free Net Working Capital (DFCFNWC)	215	276	255	219	164	201	209	192	144	140	158
Debt-free Net Working Capital (DFNWC)	257	314	301	261	205	235	249	212	177	172	194
Net Working Capital (NWC)	254	309	295	256	198	228	243	206	170	164	186
Net Nonoperating Expense (NNE)	13	8.90	15	2.91	33	7.44	13	4.27	20	6.77	20
Net Nonoperating Obligations (NNO)	723	799	770	761	713	753	760	397	390	219	267
Total Depreciation and Amortization (D&A)	25	24	23	24	24	23	18	16	15	13	12
Debt-free, Cash-free Net Working Capital to Revenue	11.44%	14.66%	13.62%	11.95%	9.12%	11.52%	12.28%	11.78%	9.65%	10.16%	13.01%
Debt-free Net Working Capital to Revenue	13.68%	16.68%	16.05%	14.29%	11.39%	13.44%	14.64%	13.04%	11.81%	12.43%	15.99%
Net Working Capital to Revenue	13.49%	16.41%	15.76%	13.99%	11.01%	13.02%	14.27%	12.64%	11.33%	11.90%	15.39%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.58	($0.07)	$0.29	$0.06	($2.21)	($0.11)	($0.29)	$0.50	($0.89)	$1.39	($0.69)
Adjusted Weighted Average Basic Shares Outstanding	30.38M	30.68M	30.71M	30.60M	30.60M	30.97M	31.01M	30.79M	30.80M	31.13M	31.20M
Adjusted Diluted Earnings per Share	$0.57	($0.07)	$0.29	$0.06	($2.21)	($0.11)	($0.29)	$0.49	($0.88)	$1.39	($0.69)
Adjusted Weighted Average Diluted Shares Outstanding	30.38M	30.68M	30.71M	30.60M	30.60M	30.97M	31.01M	30.79M	30.80M	31.13M	31.20M
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	30.38M	30.68M	30.71M	30.60M	30.60M	30.97M	31.01M	30.79M	30.80M	31.13M	31.20M
Normalized Net Operating Profit after Tax (NOPAT)	18	6.60	15	4.69	-35	3.97	4.16	53	-7.95	50	-2.22
Normalized NOPAT Margin	3.84%	1.47%	3.17%	1.10%	-7.80%	0.99%	0.97%	15.07%	-2.49%	17.70%	-0.86%
Pre Tax Income Margin	3.19%	-0.67%	1.68%	-1.65%	-15.11%	-1.45%	-2.72%	16.85%	-7.90%	29.65%	-10.85%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.34	0.74	1.63	0.45	-3.95	0.63	0.27	8.33	-0.75	14.51	-0.21
NOPAT to Interest Expense	2.65	0.57	1.94	0.37	-2.56	0.25	0.26	1.24	-0.51	3.44	-0.08
EBIT Less CapEx to Interest Expense	1.16	-0.47	0.84	-0.27	-4.83	0.87	-0.20	7.83	-0.95	14.38	-0.36
NOPAT Less CapEx to Interest Expense	1.47	-0.63	1.15	-0.35	-3.44	0.49	-0.20	0.75	-0.71	3.32	-0.24
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	72.06%	91.84%	92.99%	118.66%	-52.65%	-51.56%	-40.33%	-49.24%	-133.87%	145.81%	342.33%
Augmented Payout Ratio	79.36%	144.85%	145.39%	197.16%	-87.13%	-64.16%	-50.20%	-67.92%	-183.84%	203.76%	481.33%

Financials Breakdown Chart

Key Financial Trends

Matthews International (MATW) has shown a mix of profitability, cash-flow shifts, and leverage dynamics over the last four years. Here are the most important takeaways for retail investors.

Q1 2026 profitability highlights: Net income (continuing operations) of $43.63 million and diluted EPS of $1.39, signaling solid near-term profitability.
Strong operating margin in Q1 2026: Operating income of $97.52 million on $284.76 million revenue, implying an operating margin around 34% (a solid level for the period).
Healthy gross margin in Q1 2026: Gross margin roughly 35% (gross profit of $99.67 million on revenue of $284.76 million).
Shareholder returns continue: Cash dividends per share of $0.255 in Q1 2026, indicating ongoing dividend support.
Investing cash flow boosted by divestitures (one-time factor): Net cash from continuing investing activities of about $237.44 million, largely driven by divestitures totaling roughly $240.17 million.
Operating cash flow pressurized in Q1 2026: Net cash from continuing operating activities was negative at about $(51.99) million, reflecting working capital movements and large non-cash adjustments.
Earnings quality shows volatility from non-operating items: Substantial swings in Other income/expense across quarters can distort pretax income and net income, making quarterly earnings less predictable.
Revenue trends show variability over the years: Revenue has fluctuated markedly across periods, with periods of higher profitability in some years and notable declines in others, suggesting sensitivity to product mix and market conditions.
Cash flow and leverage pressures persist: Ongoing negative cash flow from operations in several quarters, coupled with sizable debt levels and financing activity, raise balance-sheet and interest-cost considerations for the near term.

05/11/26 08:52 PM ETAI Generated. May Contain Errors.

Matthews International Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Matthews International's fiscal year ends in September. Their fiscal year 2025 ended on September 30, 2025.

Matthews International's net income appears to be on a downward trend, with a most recent value of -$24.47 million in 2025, falling from $63.29 million in 2015. The previous period was -$59.66 million in 2024. Check out Matthews International's forecast to explore projected trends and price targets.

Matthews International's total operating income in 2025 was $75.45 million, based on the following breakdown:

Total Gross Profit: $507.59 million
Total Operating Expenses: $487.28 million

Over the last 10 years, Matthews International's total revenue changed from $1.43 billion in 2015 to $1.50 billion in 2025, a change of 5.0%.

Matthews International's total liabilities were at $1.21 billion at the end of 2025, a 13.2% decrease from 2024, and a 13.9% decrease since 2015.

In the past 10 years, Matthews International's cash and equivalents has ranged from $32.43 million in 2025 to $72.20 million in 2015, and is currently $32.43 million as of their latest financial filing in 2025.

Over the last 10 years, Matthews International's book value per share changed from 22.17 in 2015 to 15.62 in 2025, a change of -29.5%.

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Financial statements for NASDAQ:MATW last updated on 5/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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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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Matthews International Financials - Frequently Asked Questions

When does Matthews International's financial year end?

How has Matthews International's net income changed over the last 10 years?

What is Matthews International's operating income?

How has Matthews International's revenue changed over the last 10 years?

How much debt does Matthews International have?

How much cash does Matthews International have?

How has Matthews International's book value per share changed over the last 10 years?

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