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Matthews International (MATW) Financials

Matthews International logo
$23.15 -0.10 (-0.43%)
Closing price 08/13/2026 04:00 PM Eastern
Extended Trading
$23.34 +0.20 (+0.84%)
As of 04:00 AM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Matthews International

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

Quarterly Income Statements for Matthews International

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 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026
Period end date 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 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 -2.30 9.03 1.78 -68 -3.47 -8.92 15 -27 44 -22 -24
Consolidated Net Income / (Loss)		 -2.30 9.03 1.78 -68 -3.47 -8.92 15 -27 44 -22 -24
Net Income / (Loss) Continuing Operations		 -2.30 9.03 1.78 -68 -3.47 -8.92 15 -27 44 -22 -24
Total Pre-Tax Income 		-3.03 7.91 -7.05 -67 -5.83 -12 59 -25 84 -28 -24
Total Operating Income		 9.43 21 6.70 -50 5.67 5.95 75 -11 98 -3.18 -13
Total Gross Profit		 132 148 132 117 126 144 122 116 100 102 88
Total Revenue		 450 471 428 447 402 428 349 319 285 259 246
Operating Revenue		 450 471 428 447 402 428 349 319 285 259 246
Total Cost of Revenue		 318 323 296 329 276 284 227 203 185 157 158
Operating Cost of Revenue		 318 323 296 329 276 284 227 203 185 157 158
Total Operating Expenses		 123 127 125 167 120 136 104 125 115 101 102
Selling, General & Admin Expense		 113 118 116 141 111 132 100 122 112 99 99
Amortization Expense		 9.80 8.96 9.04 9.23 8.61 4.28 3.47 3.71 2.97 2.67 2.50
Total Other Income / (Expense), net		 -12 -13 -14 -18 -12 -20 41 -16 100 -29 -10
Interest Expense		 12 13 13 14 16 16 16 16 15 26 10
Other Income / (Expense), net		 -0.88 -0.88 -0.97 -4.07 4.18 -3.80 57 -0.27 115 -2.44 0.23
Income Tax Expense		 -0.73 -1.12 -8.83 0.68 -2.36 -2.73 43 2.29 41 -6.22 0.05
Basic Earnings per Share		 ($0.07) $0.29 $0.06 ($2.21) ($0.11) ($0.29) $0.50 ($0.89) $1.39 ($0.69) ($0.75)
Weighted Average Basic Shares Outstanding		 30.68M 30.71M 30.60M 30.60M 30.97M 31.01M 30.79M 30.80M 31.13M 31.20M 31.21M
Diluted Earnings per Share		 ($0.07) $0.29 $0.06 ($2.21) ($0.11) ($0.29) $0.49 ($0.88) $1.39 ($0.69) ($0.75)
Weighted Average Diluted Shares Outstanding		 30.68M 30.71M 30.60M 30.60M 30.97M 31.01M 30.79M 30.80M 31.13M 31.20M 31.21M
Weighted Average Basic & Diluted Shares Outstanding		 30.68M 30.71M 30.60M 30.60M 30.97M 31.01M 30.79M 30.80M 31.13M 31.20M 31.21M

Annual Cash Flow Statements for Matthews International

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

Quarterly Cash Flow Statements for Matthews International

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 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026
Period end date 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 6/30/2026
Net Change in Cash & Equivalents		 -4.18 7.58 -2.75 -1.93 -7.30 17 -30 12 -1.08 4.73 1.51
Net Cash From Operating Activities		 -27 57 13 36 -25 6.33 -15 10 -52 -15 -2.12
Net Cash From Continuing Operating Activities		 -27 57 13 36 -25 6.33 -15 10 -52 -15 -2.12
Net Income / (Loss) Continuing Operations		 -2.30 9.03 1.78 -68 -3.47 -8.92 15 -27 44 -22 -24
Consolidated Net Income / (Loss)		 -2.30 9.03 1.78 -68 -3.47 -8.92 15 -27 44 -22 -24
Depreciation Expense		 24 23 24 24 23 18 16 15 13 12 12
Non-Cash Adjustments To Reconcile Net Income		 4.56 4.10 5.19 37 -4.62 7.83 -48 6.12 -109 33 9.46
Changes in Operating Assets and Liabilities, net		 -53 21 -17 43 -39 -11 2.07 17 0.22 -38 0.46
Net Cash From Investing Activities		 -14 -16 -8.87 -8.34 1.44 -5.33 157 6.34 237 2.22 28
Net Cash From Continuing Investing Activities		 -14 -16 -8.87 -8.34 1.44 -5.33 157 6.34 237 2.22 28
Purchase of Property, Plant & Equipment		 -14 -9.96 -9.15 -12 -9.53 -8.74 -8.12 -9.43 -5.26 -4.04 -4.02
Sale of Property, Plant & Equipment		 0.12 - - - 13 1.36 0.32 6.32 3.48 0.03 6.56
Divestitures		 - - - - 0.00 - 228 - 240 3.23 0.25
Sale and/or Maturity of Investments		 - - - - - - - - - - 25
Net Cash From Financing Activities		 36 -33 -7.11 -31 18 15 -173 -4.83 -187 18 -24
Net Cash From Continuing Financing Activities		 36 -33 -7.11 -31 18 15 -173 -4.83 -187 18 -24
Repayment of Debt		 -212 -243 -237 -595 -219 -226 -553 -429 -375 -637 -224
Repurchase of Common Equity		 -17 -0.04 -3.31 -0.05 -4.28 -0.15 -7.70 -0.11 -5.16 -0.54 -0.08
Payment of Dividends		 -9.28 -7.41 -7.37 -7.35 -9.24 -7.81 -7.69 -8.02 -9.47 -8.06 -8.03
Issuance of Debt		 274 217 223 530 251 245 433 432 203 664 208
Other Net Changes in Cash		 - - - - - - - - - - -0.05

Annual Balance Sheets for Matthews International

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

Quarterly Balance Sheets for Matthews International

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 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026 Q3 2026
Period end date 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 6/30/2026
Total Assets		 1,897 1,884 1,903 1,890 1,862 1,792 1,827 1,706 1,553 1,531 1,506
Total Current Assets		 618 620 658 654 642 623 654 516 489 480 484
Cash & Equivalents		 42 39 38 45 43 34 40 20 31 36 38
Accounts Receivable		 216 188 216 193 193 199 146 159 115 101 106
Inventories, net		 255 269 258 253 249 242 205 211 192 196 203
Other Current Assets		 106 123 146 163 158 149 263 126 150 147 138
Plant, Property, & Equipment, net		 268 274 282 278 273 265 222 231 191 186 176
Total Noncurrent Assets		 1,011 991 963 959 947 904 950 959 872 866 845
Long-Term Investments		 24 25 25 27 27 23 22 285 287 276 247
Goodwill		 709 703 709 708 706 686 473 516 432 433 439
Intangible Assets		 190 175 151 144 135 117 87 84 94 92 89
Noncurrent Deferred & Refundable Income Taxes		 2.89 2.68 2.40 2.32 2.08 6.12 7.83 8.18 5.80 5.76 6.62
Other Noncurrent Operating Assets		 85 85 75 78 77 72 360 66 54 59 63
Total Liabilities & Shareholders' Equity		 1,897 1,884 1,903 1,890 1,862 1,792 1,827 1,706 1,553 1,531 1,506
Total Liabilities		 1,385 1,362 1,394 1,381 1,358 1,378 1,419 1,192 1,010 1,019 1,020
Total Current Liabilities		 394 380 349 359 386 396 411 311 325 293 276
Short-Term Debt		 2.83 2.94 4.95 5.42 5.48 7.26 6.36 6.38 7.27 7.30 7.81
Accounts Payable		 118 112 97 107 114 102 108 98 95 102 92
Accrued Expenses		 - - - - - 23 18 18 18 15 16
Current Deferred & Payable Income Tax Liabilities		 5.14 3.87 7.52 4.04 10 7.87 4.61 7.64 37 24 4.33
Current Employee Benefit Liabilities		 46 49 44 45 47 60 40 35 25 24 33
Other Current Liabilities		 222 212 195 198 210 195 234 146 143 121 123
Total Noncurrent Liabilities		 990 982 1,045 1,022 972 983 1,008 881 685 726 744
Long-Term Debt		 775 772 857 837 825 802 816 696 530 572 559
Noncurrent Deferred & Payable Income Tax Liabilities		 92 92 72 70 45 47 30 59 67 59 86
Other Noncurrent Operating Liabilities		 123 118 116 115 102 134 162 126 88 95 98
Total Equity & Noncontrolling Interests		 512 522 509 509 504 413 408 514 543 512 486
Total Preferred & Common Equity		 513 522 509 509 504 413 408 514 543 512 486
Total Common Equity		 513 522 509 509 504 413 408 514 543 512 486
Common Stock		 196 201 183 187 192 181 185 188 176 178 183
Retained Earnings		 703 704 704 705 699 611 594 601 601 570 538
Treasury Stock		 -220 -219 -211 -210 -213 -197 -196 -198 -183 -181 -180
Accumulated Other Comprehensive Income / (Loss)		 -167 -164 -168 -173 -174 -181 -175 -78 -50 -55 -55

Annual Metrics And Ratios for Matthews International

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%

Quarterly Metrics And Ratios for Matthews International

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

Metric Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026
Period end date 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 6/30/2026
DEI Shares Outstanding		 - - - - - - - - - 31,202,438.00 31,213,173.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 31,202,438.00 31,213,173.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - -0.70 -0.76
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.17% -1.74% -9.34% -6.97% -10.70% -9.25% -18.34% -28.62% -29.14% -39.52% -29.58%
EBITDA Growth		 -17.56% -10.25% -31.62% -157.31% 0.89% -48.64% 402.41% 112.02% 595.25% -71.06% -100.90%
EBIT Growth		 -43.67% -16.71% -69.91% -300.98% 15.27% -79.36% 2,200.93% 78.41% 2,054.49% -361.10% -109.86%
NOPAT Growth		 -47.92% 44.82% -79.61% -214.75% -39.81% -82.90% 318.96% 77.18% 1,169.01% -153.38% -147.09%
Net Income Growth		 -163.15% -1.07% -79.51% -485.24% -50.76% -198.77% 765.90% 59.70% 1,356.60% -144.89% -253.95%
EPS Growth		 -158.33% 0.00% -78.57% -487.72% -57.14% -200.00% 716.67% 60.18% 1,363.64% -137.93% -253.06%
Operating Cash Flow Growth		 24.73% -29.44% -58.08% 1,273.03% 8.28% -88.92% -212.63% -71.26% -107.89% -343.96% 86.07%
Free Cash Flow Firm Growth		 -130.26% -141.43% -140.49% 314.27% 569.57% 477.06% 1,464.42% 325.33% 212.90% 232.84% -64.61%
Invested Capital Growth		 2.96% 4.50% 2.60% -7.90% -10.82% -8.75% -27.98% -24.27% -34.70% -33.28% -15.53%
Revenue Q/Q Growth		 -6.29% 4.72% -9.21% 4.41% -10.04% 6.42% -18.30% -8.74% -10.69% -9.18% -4.87%
EBITDA Q/Q Growth		 -37.74% 36.30% -32.77% -200.46% 209.61% -30.61% 557.55% -97.60% 6,240.36% -97.38% -122.64%
EBIT Q/Q Growth		 -68.10% 139.27% -71.99% -1,040.08% 118.30% -57.16% 3,022.41% -108.82% 1,925.58% -102.64% -131.49%
NOPAT Q/Q Growth		 -78.27% 269.08% -80.74% -842.76% 111.40% 4.83% 372.06% -140.46% 733.83% -104.41% -316.41%
Net Income Q/Q Growth		 -113.02% 491.97% -80.31% -3,935.73% 94.91% -156.80% 272.58% -278.53% 258.82% -150.04% -8.50%
EPS Q/Q Growth		 -112.28% 514.29% -79.31% -3,783.33% 95.02% -163.64% 268.97% -279.59% 257.95% -149.64% -8.70%
Operating Cash Flow Q/Q Growth		 -1,141.48% 309.44% -76.37% 166.37% -169.57% 125.30% -340.20% 167.97% -603.26% 70.31% 86.29%
Free Cash Flow Firm Q/Q Growth		 -4.13% 0.60% 11.11% 332.89% 128.20% -20.18% 221.64% -27.40% 67.88% -15.10% -65.80%
Invested Capital Q/Q Growth		 4.78% -2.16% -1.21% -9.06% 1.46% 0.12% -22.04% -4.38% -12.51% 2.29% -1.29%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 29.41% 31.45% 30.82% 26.27% 31.28% 33.70% 34.91% 36.33% 35.00% 39.43% 35.85%
EBITDA Margin		 7.13% 9.28% 6.87% -6.61% 8.05% 5.25% 42.26% 1.11% 79.00% 2.28% -0.54%
Operating Margin		 2.10% 4.53% 1.57% -11.14% 1.41% 1.39% 21.52% -3.56% 34.25% -1.23% -5.37%
EBIT Margin		 1.90% 4.34% 1.34% -12.05% 2.45% 0.99% 37.72% -3.65% 74.54% -2.17% -5.28%
Profit (Net Income) Margin		 -0.51% 1.92% 0.42% -15.26% -0.86% -2.09% 4.40% -8.62% 15.32% -8.44% -9.63%
Tax Burden Percent		 76.03% 114.19% -25.20% 101.01% 59.55% 76.57% 26.14% 109.09% 51.68% 77.84% 100.19%
Interest Burden Percent		 -35.44% 38.66% -123.11% 125.32% -59.18% -275.86% 44.66% 216.57% 39.77% 499.93% 182.02%
Effective Tax Rate		 0.00% -14.19% 0.00% 0.00% 0.00% 0.00% 73.86% 0.00% 48.32% 0.00% 0.00%
Return on Invested Capital (ROIC)		 2.14% 7.73% 1.61% -11.68% 1.40% 1.36% 8.41% -3.70% 25.35% -1.07% -4.96%
ROIC Less NNEP Spread (ROIC-NNEP)		 1.00% 5.66% 1.21% -16.32% 0.44% -0.35% 7.67% -7.24% 23.95% -4.89% -9.21%
Return on Net Nonoperating Assets (RNNOA)		 1.55% 8.22% 1.74% -24.35% 0.74% -0.59% 8.73% -8.69% 24.33% -5.45% -6.26%
Return on Equity (ROE)		 3.69% 15.95% 3.34% -36.03% 2.13% 0.77% 17.14% -12.39% 49.67% -6.52% -11.23%
Cash Return on Invested Capital (CROIC)		 3.36% 2.93% 7.60% 7.50% 10.53% 7.35% 34.92% 16.35% 45.67% 41.68% -15.50%
Operating Return on Assets (OROA)		 1.88% 4.29% 1.31% -11.63% 2.32% 0.90% 34.37% -3.09% 61.54% -1.57% -3.64%
Return on Assets (ROA)		 -0.51% 1.89% 0.41% -14.72% -0.82% -1.91% 4.01% -7.31% 12.65% -6.09% -6.65%
Return on Common Equity (ROCE)		 3.69% 15.96% 3.34% -36.04% 2.13% 0.77% 17.13% -12.39% 49.67% -6.52% -11.23%
Return on Equity Simple (ROE_SIMPLE)		 6.52% 6.50% 5.20% 0.00% -14.71% -19.30% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 6.60 24 4.69 -35 3.97 4.16 20 -7.95 50 -2.22 -9.25
NOPAT Margin		 1.47% 5.17% 1.10% -7.80% 0.99% 0.97% 5.63% -2.49% 17.70% -0.86% -3.76%
Net Nonoperating Expense Percent (NNEP)		 1.14% 2.07% 0.40% 4.64% 0.96% 1.71% 0.74% 3.54% 1.39% 3.82% 4.25%
Return On Investment Capital (ROIC_SIMPLE)		 0.48% - - - 0.32% 0.34% 1.62% -0.67% 4.67% -0.20% -0.88%
Cost of Revenue to Revenue		 70.59% 68.55% 69.18% 73.73% 68.72% 66.30% 65.09% 63.67% 65.00% 60.57% 64.15%
SG&A Expenses to Revenue		 25.14% 25.02% 27.14% 31.60% 27.72% 31.31% 28.74% 38.11% 39.47% 38.10% 40.30%
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		 27.32% 26.92% 29.25% 37.41% 29.87% 32.31% 29.73% 39.28% 40.51% 39.14% 41.32%
Earnings before Interest and Taxes (EBIT)		 8.55 20 5.73 -54 9.85 4.22 132 -12 212 -5.61 -13
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 32 44 29 -30 32 22 148 3.55 225 5.90 -1.34
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.12 1.84 1.51 1.62 2.05 1.69 1.44 1.55 1.48 1.57 1.73
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 45.55 0.00 0.00
Price to Revenue (P/Rev)		 0.57 0.50 0.42 0.40 0.48 0.40 0.46 0.50 0.58 0.66 0.76
Price to Earnings (P/E)		 32.44 28.23 29.07 0.00 0.00 0.00 0.00 0.00 35.55 82.75 0.00
Dividend Yield		 2.62% 3.08% 3.83% 4.14% 3.50% 4.41% 4.14% 4.12% 3.85% 3.91% 3.77%
Earnings Yield		 3.08% 3.54% 3.44% 0.00% 0.00% 0.00% 0.00% 0.00% 2.81% 1.21% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 1.44 1.33 1.20 1.24 1.37 1.24 1.25 1.31 1.34 1.37 1.46
Enterprise Value to Revenue (EV/Rev)		 1.00 0.91 0.83 0.79 0.92 0.85 0.70 0.76 0.74 0.88 1.01
Enterprise Value to EBITDA (EV/EBITDA)		 10.72 10.03 9.72 18.80 21.07 26.49 6.58 5.52 2.57 2.79 4.78
Enterprise Value to EBIT (EV/EBIT)		 23.81 22.82 24.76 0.00 0.00 0.00 12.37 8.47 3.04 3.26 6.10
Enterprise Value to NOPAT (EV/NOPAT)		 23.21 18.59 11.99 0.00 0.00 0.00 43.90 0.00 28.76 62.76 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 21.24 26.41 33.14 17.94 19.63 47.09 551.15 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 43.32 46.55 16.05 15.81 12.29 16.11 3.00 6.89 2.32 2.64 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.69 1.65 1.65 1.78 1.96 2.01 1.37 1.48 0.99 1.13 1.17
Long-Term Debt to Equity		 1.69 1.64 1.64 1.76 1.94 2.00 1.35 1.46 0.98 1.12 1.15
Financial Leverage		 1.54 1.45 1.43 1.49 1.68 1.67 1.14 1.20 1.02 1.12 0.68
Leverage Ratio		 3.75 3.71 3.65 3.87 4.01 4.05 3.51 3.84 3.50 3.65 3.21
Compound Leverage Factor		 -1.33 1.43 -4.50 4.85 -2.37 -11.18 1.57 8.33 1.39 18.24 5.85
Debt to Total Capital		 62.89% 62.33% 62.24% 63.98% 66.18% 66.82% 57.76% 59.64% 49.71% 53.07% 53.86%
Short-Term Debt to Total Capital		 0.36% 0.40% 0.41% 0.56% 0.59% 0.52% 0.52% 0.61% 0.67% 0.67% 0.74%
Long-Term Debt to Total Capital		 62.53% 61.93% 61.83% 63.41% 65.59% 66.30% 57.23% 59.04% 49.04% 52.40% 53.12%
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% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 37.10% 37.67% 37.76% 36.02% 33.81% 33.18% 42.24% 40.36% 50.29% 46.93% 46.14%
Debt to EBITDA		 4.92 4.95 5.30 10.26 10.66 15.04 4.06 3.45 1.35 1.51 2.41
Net Debt to EBITDA		 4.56 4.53 4.86 9.42 9.92 13.89 2.29 1.89 0.55 0.70 1.20
Long-Term Debt to EBITDA		 4.89 4.92 5.26 10.17 10.56 14.92 4.03 3.42 1.33 1.49 2.38
Debt to NOPAT		 10.65 9.18 6.54 -90.01 -71.91 -37.34 27.10 -6.24 15.10 33.95 -2.09
Net Debt to NOPAT		 9.87 8.39 5.99 -82.61 -66.92 -34.50 15.30 -3.42 6.15 15.65 -1.04
Long-Term Debt to NOPAT		 10.59 9.12 6.50 -89.22 -71.26 -37.05 26.85 -6.18 14.90 33.53 -2.06
Altman Z-Score		 2.18 2.14 2.02 1.79 1.99 1.85 2.22 1.82 2.49 1.92 1.87
Noncontrolling Interest Sharing Ratio		 -0.03% -0.03% -0.03% -0.04% 0.01% 0.01% 0.00% 0.01% 0.01% 0.01% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.88 1.82 1.66 1.45 1.58 1.59 1.66 1.48 1.51 1.64 1.76
Quick Ratio		 0.73 0.66 0.61 0.57 0.59 0.45 0.58 0.47 0.45 0.47 0.52
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -31 -31 -27 64 145 116 373 271 455 386 132
Operating Cash Flow to CapEx		 -195.47% 573.36% 147.53% 298.60% 0.00% 85.75% -194.87% 332.72% -2,919.26% -384.70% 0.00%
Free Cash Flow to Firm to Interest Expense		 -2.68 -2.45 -2.14 4.68 9.28 7.32 23.59 17.47 31.11 14.65 12.68
Operating Cash Flow to Interest Expense		 -2.36 4.55 1.06 2.64 -1.59 0.40 -0.96 0.67 -3.55 -0.59 -0.20
Operating Cash Flow Less CapEx to Interest Expense		 -3.56 3.76 0.34 1.75 -1.36 -0.07 -1.45 0.47 -3.67 -0.74 0.04
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.99 0.99 0.98 0.96 0.95 0.92 0.91 0.85 0.83 0.72 0.69
Accounts Receivable Turnover		 8.59 9.16 9.60 8.69 8.41 10.06 9.24 8.84 8.77 9.82 8.38
Inventory Turnover		 5.21 5.13 4.90 5.08 4.90 5.17 4.86 4.49 4.14 3.85 3.39
Fixed Asset Turnover		 6.89 6.86 6.69 6.53 6.39 6.81 6.46 5.94 6.05 5.94 5.45
Accounts Payable Turnover		 13.20 11.58 11.24 11.37 12.29 11.03 10.54 9.57 9.15 7.34 7.40
Days Sales Outstanding (DSO)		 42.48 39.83 38.02 42.02 43.41 36.29 39.49 41.30 41.61 37.19 43.58
Days Inventory Outstanding (DIO)		 70.10 71.10 74.56 71.83 74.43 70.62 75.06 81.24 88.09 94.81 107.53
Days Payable Outstanding (DPO)		 27.66 31.51 32.49 32.10 29.70 33.10 34.62 38.12 39.91 49.70 49.31
Cash Conversion Cycle (CCC)		 84.93 79.42 80.10 81.76 88.15 73.81 79.93 84.41 89.79 82.29 101.81
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 1,308 1,280 1,264 1,150 1,167 1,168 911 871 762 779 769
Invested Capital Turnover		 1.46 1.50 1.47 1.50 1.41 1.39 1.49 1.48 1.43 1.24 1.32
Increase / (Decrease) in Invested Capital		 38 55 32 -99 -141 -112 -354 -279 -405 -389 -141
Enterprise Value (EV)		 1,879 1,707 1,523 1,422 1,600 1,448 1,138 1,137 1,023 1,071 1,123
Market Capitalization		 1,080 937 762 710 847 689 741 748 804 804 840
Book Value per Share		 $16.58 $16.60 $16.40 $14.29 $13.51 $13.18 $16.57 $15.62 $17.64 $16.46 $15.57
Tangible Book Value per Share		 ($11.46) ($11.16) ($10.99) ($12.62) ($12.73) ($4.90) ($2.78) ($3.66) $0.57 ($0.42) ($1.36)
Total Capital		 1,371 1,352 1,334 1,214 1,223 1,230 1,216 1,192 1,080 1,091 1,053
Total Debt		 862 843 830 776 809 822 702 711 537 579 567
Total Long-Term Debt		 857 837 825 770 802 816 696 704 530 572 559
Net Debt		 799 770 761 713 753 760 397 390 219 267 283
Capital Expenditures (CapEx)		 14 9.96 9.15 12 -3.72 7.38 7.80 3.11 1.78 4.01 -2.53
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 276 255 219 164 201 209 192 144 140 158 179
Debt-free Net Working Capital (DFNWC)		 314 301 261 205 235 249 212 177 172 194 216
Net Working Capital (NWC)		 309 295 256 198 228 243 206 170 164 186 209
Net Nonoperating Expense (NNE)		 8.90 15 2.91 33 7.44 13 4.27 20 6.77 20 14
Net Nonoperating Obligations (NNO)		 799 770 761 713 753 760 397 390 219 267 283
Total Depreciation and Amortization (D&A)		 24 23 24 24 23 18 16 15 13 12 12
Debt-free, Cash-free Net Working Capital to Revenue		 14.66% 13.62% 11.95% 9.12% 11.52% 12.28% 11.78% 9.65% 10.16% 13.01% 16.13%
Debt-free Net Working Capital to Revenue		 16.68% 16.05% 14.29% 11.39% 13.44% 14.64% 13.04% 11.81% 12.43% 15.99% 19.53%
Net Working Capital to Revenue		 16.41% 15.76% 13.99% 11.01% 13.02% 14.27% 12.64% 11.33% 11.90% 15.39% 18.82%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.07) $0.29 $0.06 ($2.21) ($0.11) ($0.29) $0.50 ($0.89) $1.39 ($0.69) ($0.75)
Adjusted Weighted Average Basic Shares Outstanding		 30.68M 30.71M 30.60M 30.60M 30.97M 31.01M 30.79M 30.80M 31.13M 31.20M 31.21M
Adjusted Diluted Earnings per Share		 ($0.07) $0.29 $0.06 ($2.21) ($0.11) ($0.29) $0.49 ($0.88) $1.39 ($0.69) ($0.75)
Adjusted Weighted Average Diluted Shares Outstanding		 30.68M 30.71M 30.60M 30.60M 30.97M 31.01M 30.79M 30.80M 31.13M 31.20M 31.21M
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		 30.68M 30.71M 30.60M 30.60M 30.97M 31.01M 30.79M 30.80M 31.13M 31.20M 31.21M
Normalized Net Operating Profit after Tax (NOPAT)		 6.60 15 4.69 -35 3.97 4.16 53 -7.95 50 -2.22 -9.25
Normalized NOPAT Margin		 1.47% 3.17% 1.10% -7.80% 0.99% 0.97% 15.07% -2.49% 17.70% -0.86% -3.76%
Pre Tax Income Margin		 -0.67% 1.68% -1.65% -15.11% -1.45% -2.72% 16.85% -7.90% 29.65% -10.85% -9.61%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.74 1.63 0.45 -3.95 0.63 0.27 8.33 -0.75 14.51 -0.21 -1.25
NOPAT to Interest Expense		 0.57 1.94 0.37 -2.56 0.25 0.26 1.24 -0.51 3.44 -0.08 -0.89
EBIT Less CapEx to Interest Expense		 -0.47 0.84 -0.27 -4.83 0.87 -0.20 7.83 -0.95 14.38 -0.36 -1.00
NOPAT Less CapEx to Interest Expense		 -0.63 1.15 -0.35 -3.44 0.49 -0.20 0.75 -0.71 3.32 -0.24 -0.65
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 91.84% 92.99% 118.66% -52.65% -51.56% -40.33% -49.24% -133.87% 145.81% 342.33% -114.36%
Augmented Payout Ratio		 144.85% 145.39% 197.16% -87.13% -64.16% -50.20% -67.92% -183.84% 203.76% 481.33% -134.39%

Financials Breakdown Chart

Key Financial Trends

Matthews International (NASDAQ: MATW) is showing a mixed but improving short-term operating picture, while still carrying meaningful balance-sheet and earnings pressure. The latest quarter benefited from better profitability and strong asset-sale proceeds, but the company remains highly leveraged and has not yet established consistent operating momentum.

  • Q2 2026 gross profit margin improved materially versus the prior quarter and versus earlier periods, with gross profit of $102.0 million on revenue of $258.6 million, suggesting better pricing or mix.
  • Q2 2026 operating cash flow improved sharply from a large outflow in Q1 2026 to an outflow of only $15.4 million, helped by working-capital normalization.
  • Investing cash flow was positive in Q2 2026, driven by divestiture proceeds of $3.2 million, which helped offset capital spending.
  • Net income turned positive in Q1 2026 at $43.6 million, showing the business can still generate solid earnings in a favorable quarter.
  • Asset sales were a major source of liquidity in recent quarters, especially Q1 2026 and Q3 2025, where divestiture proceeds meaningfully supported cash generation.
  • Revenue has been volatile, moving from $318.8 million in Q4 2025 to $258.6 million in Q2 2026, so top-line stability remains an open question.
  • Shares outstanding have been relatively stable, so recent earnings swings are mainly driven by operations rather than dilution.
  • Q2 2026 reported a net loss of $21.8 million and negative EPS of $0.69, showing profitability is still inconsistent.
  • Operating income was negative in Q2 2026 at $3.2 million loss, and Q4 2025 was much worse at a $11.4 million operating loss.
  • Debt remains a major burden, with long-term debt of $572.0 million in Q2 2026 and total liabilities of $1.02 billion versus equity of $512.2 million.
  • Interest expense is still high relative to operating earnings, which limits flexibility and keeps pre-tax results under pressure.
  • Working-capital swings have hurt cash flow in several periods, including Q2 2026, Q1 2026, and Q1 2025, making free cash generation uneven.

Longer-term trend: Matthews International’s results over the last four years show a company that can periodically produce solid quarters, but not consistent ones. Revenue has generally drifted lower from the 2023–2024 range, while margins have been uneven and often pressured by SG&A, amortization, and interest costs. The balance sheet has also become more leveraged, with debt staying elevated even as equity has been stable to slightly lower.

Bottom line: MATW does have some positives, including improved recent quarter profitability and meaningful asset-sale liquidity, but investors should watch the stock as a turnaround story with considerable execution and leverage risk. A sustained improvement in operating income and free cash flow would be needed to strengthen the investment case.

08/14/26 05:18 AM 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 financial year ends in September. Their financial 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. See Matthews International's forecast for analyst expectations on what's next for the company.

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 8/7/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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