NASDAQ : MATW
Matthews International Corporation — Financial statements
Industrials · Conglomerates · United States
Last price 19.28 USD (Oct 30, 2026, 4:00 PM EST) · Market cap 601.79M
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Financial statements
Matthews International Corporation (MATW) reported revenue of 1.11B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year October - September; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 1.11B | 1.50B | 1.80B | 1.88B | 1.76B | 1.67B |
| Cost of Revenue | 688.40M | 985.75M | 1.19B | 1.30B | 1.23B | 1.13B |
| Gross Profit | 419.84M | 511.94M | 601.43M | 577.67M | 533.74M | 541.83M |
| Selling, General & Admin | 414.97M | 450.08M | 461.46M | 447.49M | 413.94M | 421.40M |
| Amortization of Goodwill & Intangibles | 11.85M | 20.07M | 37.02M | 42.07M | 57.08M | 84.23M |
| Operating Expenses | 426.82M | 470.15M | 498.48M | 489.56M | 471.03M | 505.63M |
| Operating Income | -6.98M | 41.80M | 102.95M | 88.11M | 62.71M | 36.20M |
| Interest Expense | -50.61M | -62.90M | -50.53M | -44.65M | -27.73M | -28.68M |
| Interest & Investment Income | 5.51M | 2.09M | ||||
| Other Non Operating Income (Expenses) | -2.37M | 1.18M | -2.57M | 77.00K | -1.25M | 1.72M |
| EBT Excluding Unusual Items | -54.45M | -17.83M | 49.85M | 43.54M | 33.74M | 9.23M |
| Merger & Restructuring Charges | -9.05M | -1.16M | -45.70M | -14.60M | ||
| Impairment of Goodwill | -16.73M | -82.45M | ||||
| Gain (Loss) on Sale of Investments | -3.13M | |||||
| Gain (Loss) on Sale of Assets | 109.61M | 55.14M | ||||
| Asset Writedown | -7.91M | -7.91M | -13.72M | -10.05M | ||
| Legal Settlements | -8.00M | -8.00M | ||||
| Other Unusual Items | -22.65M | -4.03M | -40.23M | -2.63M | -30.86M | |
| Pretax Income | 7.54M | 16.21M | -69.66M | 40.91M | -104.22M | 9.23M |
| Income Tax Expense | 36.91M | 40.68M | -10.00M | 1.77M | -4.39M | 6.38M |
| Earnings From Continuing Operations | -29.36M | -24.47M | -59.66M | 39.14M | -99.83M | 2.86M |
| Minority Interest in Earnings | 155.00K | 54.00K | 52.00K | |||
| Net Income | -29.36M | -24.47M | -59.66M | 39.29M | -99.77M | 2.91M |
| Net Income to Common | -29.36M | -24.47M | -59.66M | 39.29M | -99.77M | 2.91M |
| Shares Outstanding (Basic) | 31.30M | 31.10M | 30.91M | 30.80M | 31.37M | 31.70M |
| Shares Outstanding (Diluted) | 31.30M | 31.10M | 30.91M | 31.29M | 31.37M | 31.99M |
| EPS (Basic) | -0.94 | -0.79 | -1.93 | 1.28 | -3.18 | 0.09 |
| EPS (Diluted) | -0.95 | -0.79 | -1.93 | 1.26 | -3.18 | 0.09 |
| Free Cash Flow | -81.97M | -59.37M | 34.06M | 28.93M | 65.54M | 128.50M |
| Free Cash Flow Per Share | -2.62 | -1.91 | 1.10 | 0.92 | 2.09 | 4.02 |
| Dividend Per Share | 1.02 | 1.00 | 0.97 | 0.93 | 0.89 | 0.86 |
| Gross Margin | 37.88% | 34.18% | 33.49% | 30.71% | 30.29% | 32.42% |
| Operating Margin | -0.63% | 2.79% | 5.73% | 4.69% | 3.56% | 2.17% |
| Profit Margin | -2.65% | -1.63% | -3.32% | 2.09% | -5.66% | 0.17% |
| Free Cash Flow Margin | -7.40% | -3.96% | 1.90% | 1.54% | 3.72% | 7.69% |
| EBITDA | 44.05M | 113.54M | 197.72M | 184.64M | 166.77M | 169.71M |
| EBITDA Margin | 3.98% | 7.58% | 11.01% | 9.82% | 9.46% | 10.16% |
| D&A For EBITDA | 51.03M | 71.75M | 94.77M | 96.53M | 104.06M | 133.51M |
| EBIT | -6.98M | 41.80M | 102.95M | 88.11M | 62.71M | 36.20M |
| EBIT Margin | -0.63% | 2.79% | 5.73% | 4.69% | 3.56% | 2.17% |
| Effective Tax Rate | 489.29% | 250.97% | 4.34% | 69.05% |
Balance sheet
Fiscal year October - September; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 37.60M | 32.43M | 40.82M | 42.10M | 69.02M | 49.18M |
| Trading Asset Securities | 609.00K | 15.00K | 920.00K | 3.36M | 31.00K | |
| Cash & Short-Term Investments | 38.21M | 32.45M | 40.82M | 43.02M | 72.37M | 49.21M |
| Receivables | 206.89M | 240.09M | 298.95M | 282.17M | 269.23M | 333.82M |
| Inventory | 203.43M | 202.83M | 237.89M | 260.41M | 225.44M | 189.09M |
| Restricted Cash | 2.40M | |||||
| Other Current Assets | 35.95M | 44.81M | 54.89M | 62.66M | 59.18M | 52.05M |
| Total Current Assets | 484.48M | 520.17M | 632.54M | 648.26M | 628.62M | 624.16M |
| Property, Plant & Equipment | 235.18M | 276.19M | 340.00M | 341.95M | 328.04M | 303.97M |
| Long-Term Investments | 242.24M | 283.42M | 17.58M | 23.15M | 28.88M | 25.95M |
| Goodwill | 438.82M | 487.56M | 697.12M | 698.11M | 675.42M | 773.79M |
| Other Intangible Assets | 89.48M | 105.96M | 126.03M | 160.48M | 202.15M | 261.54M |
| Long-Term Deferred Tax Assets | 6.62M | 6.43M | 6.55M | 2.27M | 3.61M | 3.49M |
| Other Long-Term Assets | 8.70M | 14.71M | 15.07M | 13.16M | 16.05M | 39.17M |
| Total Assets | 1.51B | 1.69B | 1.83B | 1.89B | 1.88B | 2.03B |
| Accounts Payable | 91.69M | 98.46M | 108.36M | 114.32M | 121.36M | 112.72M |
| Accrued Expenses | 48.87M | 54.59M | 112.55M | 81.22M | 58.27M | 68.94M |
| Current Portion of Long-Term Debt | 5.30M | 973.00K | 1.90M | 1.01M | 993.00K | 2.87M |
| Current Portion of Leases | 17.84M | 24.42M | 28.44M | 26.67M | 25.15M | 28.82M |
| Current Income Taxes Payable | 4.33M | 9.29M | 7.52M | 12.56M | 9.28M | 4.24M |
| Current Unearned Revenue | 3.08M | 7.45M | 28.72M | 36.94M | 31.87M | 19.75M |
| Other Current Liabilities | 104.78M | 155.30M | 147.29M | 121.89M | 164.45M | 116.88M |
| Total Current Liabilities | 275.89M | 350.48M | 434.77M | 394.60M | 411.38M | 354.23M |
| Long-Term Debt | 542.21M | 689.67M | 755.07M | 779.90M | 790.51M | 753.89M |
| Long-Term Leases | 63.11M | 51.43M | 56.36M | 56.78M | 56.23M | 62.77M |
| Pension & Post-Retirement Benefits | 102.76M | |||||
| Long-Term Deferred Tax Liabilities | 86.02M | 55.97M | 45.69M | 71.25M | 92.59M | 97.42M |
| Other Long-Term Liabilities | 52.32M | 65.95M | 105.79M | 59.57M | 44.99M | 24.61M |
| Total Liabilities | 1.02B | 1.21B | 1.40B | 1.36B | 1.40B | 1.40B |
| Common Stock | 36.33M | 36.33M | 36.33M | 36.33M | 36.33M | 36.33M |
| Additional Paid-In Capital | 147.00M | 154.62M | 159.50M | 168.21M | 160.25M | 149.48M |
| Retained Earnings | 537.84M | 565.28M | 623.06M | 714.73M | 706.75M | 834.21M |
| Treasury Stock | -180.12M | -197.28M | -212.99M | -219.20M | -225.79M | -190.74M |
| Comprehensive Income & Other | -55.08M | -78.01M | -168.74M | -174.40M | -190.19M | -192.74M |
| Total Common Equity | 485.97M | 480.94M | 437.16M | 525.67M | 487.35M | 636.55M |
| Minority Interest | 48.00K | -387.00K | -276.00K | -145.00K | ||
| Shareholders' Equity | 485.97M | 480.94M | 437.21M | 525.28M | 487.08M | 636.40M |
| Total Liabilities & Equity | 1.51B | 1.69B | 1.83B | 1.89B | 1.88B | 2.03B |
| Total Debt | 628.45M | 766.49M | 841.76M | 864.35M | 872.88M | 848.37M |
| Net Cash (Debt) | -590.24M | -734.05M | -800.95M | -821.33M | -800.51M | -799.16M |
| Net Cash Per Share | -18.86 | -23.60 | -25.91 | -26.25 | -25.52 | -24.98 |
| Filing Date Shares Outstanding | 31.21M | 30.80M | 30.60M | 30.38M | 30.30M | 31.47M |
| Total Common Shares Outstanding | 31.21M | 30.80M | 30.60M | 30.47M | 30.30M | 31.48M |
| Working Capital | 208.58M | 169.69M | 197.77M | 253.66M | 217.24M | 269.94M |
| Book Value Per Share | 15.57 | 15.62 | 14.29 | 17.25 | 16.09 | 20.22 |
| Tangible Book Value | -42.33M | -112.58M | -385.99M | -332.92M | -390.22M | -398.78M |
| Tangible Book Value Per Share | -1.36 | -3.66 | -12.61 | -10.93 | -12.88 | -12.67 |
| Land | 11.70M | 18.02M | 20.94M | 20.21M | 16.62M | |
| Buildings | 135.76M | 160.04M | 144.59M | 137.83M | 109.91M | |
| Machinery | 404.39M | 541.52M | 493.31M | 477.00M | 485.69M | |
| Construction In Progress | 31.23M | 27.14M | 28.15M | 25.57M | 11.77M |
Cash flow statement
Fiscal year October - September; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -29.36M | -24.47M | -59.66M | 39.29M | -99.77M | 2.91M |
| Depreciation & Amortization | 51.03M | 71.75M | 94.77M | 96.53M | 104.06M | 133.51M |
| Loss (Gain) From Sale of Assets | -103.60M | -58.32M | -1.43M | -2.98M | -3.39M | -412.00K |
| Asset Writedown & Restructuring Costs | 7.91M | 7.91M | 30.44M | 92.50M | ||
| Loss (Gain) From Sale of Investments | 3.13M | |||||
| Loss (Gain) on Equity Investments | 10.71M | -2.89M | 148.00K | |||
| Stock-Based Compensation | 17.82M | 23.07M | 18.48M | 17.31M | 17.43M | 15.58M |
| Other Operating Activities | 21.06M | 4.41M | -24.71M | -35.60M | -23.95M | -531.00K |
| Change in Accounts Receivable | -19.80M | -19.80M | -9.68M | 2.99M | 54.50M | -13.42M |
| Change in Inventory | 11.69M | 11.69M | 27.02M | -23.99M | -23.46M | -12.84M |
| Change in Accounts Payable | 2.96M | 2.96M | -6.49M | -9.21M | 7.44M | 29.62M |
| Change in Unearned Revenue | -20.66M | -20.66M | -9.43M | 4.97M | 12.24M | |
| Change in Income Taxes | -7.41M | -7.41M | -4.83M | 3.34M | 5.75M | 601.00K |
| Change in Other Net Operating Assets | -1.57M | -11.79M | 21.53M | -13.13M | -16.48M | 7.79M |
| Operating Cash Flow | -59.22M | -23.55M | 79.28M | 79.52M | 126.86M | 162.81M |
| Capital Expenditures | -22.75M | -35.82M | -45.22M | -50.60M | -61.32M | -34.31M |
| Sale of Property, Plant & Equipment | 16.38M | 21.25M | 4.16M | 2.12M | 4.96M | 2.78M |
| Cash Acquisitions | 1.49M | -55.83M | -5.83M | -15.34M | -44.47M | -15.62M |
| Divestitures | 243.65M | 230.05M | 544.00K | 6.70M | 344.00K | |
| Investment in Securities | 35.37M | -63.00K | -625.00K | -1.61M | 6.57M | 34.17M |
| Other Investing Activities | -357.00K | 13.07M | ||||
| Investing Cash Flow | 273.78M | 159.59M | -46.97M | -58.73M | -80.85M | -12.99M |
| Long-Term Debt Issued | 1.36B | 1.24B | 865.75M | 777.81M | 625.63M | |
| Long-Term Debt Repaid | -1.43B | -1.28B | -883.97M | -742.12M | -702.39M | |
| Net Debt Issued (Repaid) | -156.07M | -67.00M | -31.34M | -18.22M | 35.69M | -76.77M |
| Repurchase of Common Stock | -5.88M | -12.23M | -20.57M | -2.86M | -41.72M | -11.86M |
| Common Dividends Paid | -33.58M | -32.76M | -31.41M | -28.20M | -27.68M | -27.70M |
| Other Financing Activities | -1.80M | -32.29M | 48.28M | -912.00K | -3.50M | -6.52M |
| Financing Cash Flow | -197.33M | -144.27M | -35.04M | -50.20M | -37.21M | -122.85M |
| Foreign Exchange Rate Adjustments | -13.00K | -152.00K | 1.44M | 83.00K | -5.72M | 43.00K |
| Miscellaneous Cash Flow Adjustments | -1.00K | -1.00K | ||||
| Net Cash Flow | 17.22M | -8.38M | -1.28M | -29.31M | 3.07M | 27.01M |
| Free Cash Flow | -81.97M | -59.37M | 34.06M | 28.93M | 65.54M | 128.50M |
| Free Cash Flow Margin | -7.40% | -3.96% | 1.90% | 1.54% | 3.72% | 7.69% |
| Free Cash Flow Per Share | -2.62 | -1.91 | 1.10 | 0.92 | 2.09 | 4.02 |
| Levered Free Cash Flow | 26.48M | 70.46M | 151.82M | 23.10M | 163.45M | 138.35M |
| Unlevered Free Cash Flow | 58.12M | 109.77M | 183.40M | 51.01M | 180.78M | 156.27M |
| Cash Interest Paid | 51.11M | 51.11M | 50.34M | 43.52M | 27.41M | 28.82M |
| Cash Income Tax Paid | 16.76M | 16.76M | 19.25M | 18.01M | 13.65M | 9.17M |
| Change in Working Capital | -34.78M | -45.01M | 18.11M | -35.03M | 39.98M | 11.75M |
Ratios
Fiscal year October - September; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 601.79M | 747.60M | 709.86M | 1.19B | 685.87M | 1.10B |
| Enterprise Value | 1.19B | 1.48B | 1.56B | 2.00B | 1.49B | 1.93B |
| Last Close Price | 19.28 | 23.33 | 21.40 | 34.77 | 19.53 | 29.40 |
| PE Ratio | 30.17 | 376.85 | ||||
| Forward PE | 24.51 | 23.75 | 15.89 | 12.98 | 7.62 | 11.97 |
| PS Ratio | 0.54 | 0.50 | 0.40 | 0.63 | 0.39 | 0.66 |
| PB Ratio | 1.24 | 1.55 | 1.62 | 2.26 | 1.41 | 1.72 |
| P/FCF Ratio | 20.84 | 40.98 | 10.46 | 8.53 | ||
| P/OCF Ratio | 8.95 | 14.91 | 5.41 | 6.74 | ||
| PEG Ratio | 3.27 | 3.17 | 2.12 | 1.73 | 1.02 | 1.51 |
| EV/Sales Ratio | 1.08 | 0.99 | 0.87 | 1.06 | 0.85 | 1.16 |
| EV/EBITDA Ratio | 27.06 | 13.06 | 7.91 | 10.82 | 8.94 | 11.38 |
| EV/EBIT Ratio | 35.49 | 15.18 | 22.68 | 23.76 | 53.38 | |
| EV/FCF Ratio | 45.88 | 69.08 | 22.74 | 15.04 | ||
| Debt / Equity Ratio | 1.29 | 1.59 | 1.93 | 1.65 | 1.79 | 1.33 |
| Debt / EBITDA Ratio | 8.14 | 5.24 | 3.66 | 3.99 | 4.39 | 4.28 |
| Debt / FCF Ratio | 24.71 | 29.88 | 13.32 | 6.60 | ||
| Net Debt / Equity Ratio | 1.22 | 1.53 | 1.83 | 1.56 | 1.64 | 1.26 |
| Net Debt / EBITDA Ratio | 13.40 | 6.46 | 4.05 | 4.45 | 4.80 | 4.71 |
| Net Debt / FCF Ratio | -7.20 | -12.36 | 23.51 | 28.39 | 12.21 | 6.22 |
| Asset Turnover | 0.69 | 0.85 | 0.96 | 1.00 | 0.90 | 0.81 |
| Inventory Turnover | 3.33 | 4.47 | 4.79 | 5.37 | 5.93 | 6.20 |
| Quick Ratio | 0.89 | 0.78 | 0.78 | 0.82 | 0.83 | 1.08 |
| Current Ratio | 1.76 | 1.48 | 1.46 | 1.64 | 1.53 | 1.76 |
| Return on Equity (ROE) | -5.87% | -5.33% | -12.40% | 7.73% | -17.77% | 0.46% |
| Return on Assets (ROA) | -0.27% | 1.48% | 3.46% | 2.92% | 2.00% | 1.10% |
| Return on Invested Capital (ROIC) | 2.48% | -5.14% | 7.97% | 6.40% | 4.61% | 0.77% |
| Return on Capital Employed (ROCE) | -0.60% | 3.10% | 7.40% | 5.90% | 4.30% | 2.20% |
| Earnings Yield | -4.90% | -3.27% | -8.40% | 3.31% | -14.55% | 0.27% |
| FCF Yield | -13.62% | -7.94% | 4.80% | 2.44% | 9.56% | 11.72% |
| Dividend Yield | 5.29% | 4.14% | 4.18% | 2.39% | 3.93% | 2.48% |
| Payout Ratio | 71.78% | 952.03% | ||||
| Buyback Yield / Dilution | -0.82% | -0.60% | 1.20% | 0.25% | 1.94% | -2.56% |
| Total Shareholder Return | 4.47% | 3.54% | 5.38% | 2.64% | 5.87% | -0.07% |