Matthews International Corp

Telecommunications
Metal Fabrications
www.matw.com

Earnings Score
Moat Score
Safety Score

Market Cap $583.89M
PE -7
Debt $828.54M
Cash $40.25M
EV $1.37B
FCF -$8.70M

Earnings

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Sales & Net Margins

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Earnings	-$78.77M
EBIT	-$31.46M
ROE	-19%
ROA	-2%
FCF	-$8.70M
Equity	$408.24M
Growth Stability	-185%
PE	-7.41
PEG	-1.08
PB	1.43
P/FCF	-67.14
P/S	0.34
Price/Cash	0.07
Debt/Equity	2.03
Debt/FCF	-95.28
Net Margins	-1%
Gross Margins	30%
Op. Margins	-2%
Earnings CAGR	-3%
Sales Growth YoY	-9%
Sales Growth QoQ	6%
Sales CAGR	3%
FCF CAGR	-9%
Equity CAGR	-6%
Earnings Stability	0.06
Earnings Growth YoY	-199%
Earnings Growth QoQ	157%
Earnings CAGR 5Y	7%

Sales CAGR 5Y	4%
FCF CAGR 5Y	-26%
Equity CAGR 5Y	-8%
Earnings CAGR 3Y	-0%
Sales CAGR 3Y	-0%
FCF CAGR 3Y	-22%
Equity CAGR 3Y	-9%
Market Cap	$583.89M
Revenue	$1.70B
Dividend Yield	5%
Payout Ratio	-40%
Assets	$1.83B
Total Debt	$828.54M
Cash	$40.25M
Shares Outstanding	31.01M
EV	1.37B
Earnings Score	6%
Moat Score	13%
Safety Score	34%
Final Score	18%
Working Capital	243.13M
Current Ratio	1.59
Gross Profit	$518.98M
Shares Growth 3y	0%
Equity Growth QoQ	-1%
Equity Growth YoY	-20%

Assets & ROA

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Stockholders Equity & ROE

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Matthews International Corp is a personal services company that primarily provides brand solution services, memorialization products, and industrial products in the United States and Europe. The majority of Matthews' revenue is derived from its SGK Brand Solutions business, which provides brand development services, printing equipment, creative design services, and embossing tools to the consumer packaged goods and packaging industries. The company's Memorialization segment, which sells bronze and granite memorials, caskets, and cremation equipment to the cemetery and funeral home industries, also contributes a significant amount. Most of Matthews' revenue is generated from sales made in the U.S., while European customers also contribute a sizable percentage.

SEC Filings

Direct access to Matthews International Corp (MATW) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2025
- 10-Q Mar 31
2024
- 10-Q Dec 31
- 10-K Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-Q Dec 31
- 10-K Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Matthews International Corp compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Matthews International Corp compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR -3%

Stability 6%

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Matthews International Corp Discounted Cash Flow

Fully customizable DCF calculator online for Matthews International Corp.

Years

Calculation mode

= -$47M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	-$8.7M	-$7.9M	-$7.1M	-$6.5M	-$5.9M	-$5.3M	-$4.8M	-$4.4M	-$4M	-$3.6M	-$3.3M	-$33M
DCF		-$7.2M	-$5.9M	-$4.9M	-$4M	-$3.3M	-$2.7M	-$2.2M	-$1.9M	-$1.5M	-$1.3M	-$13M
Value	-$47M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	09/2015	09/2016	09/2017	09/2018	09/2019	09/2020	09/2021	09/2022	09/2023	09/2024	TTM
Net Margins	4%	4%	5%	7%	-3%	-6%	0%	-6%	2%	-3%	-1%
ROA	-	6%	5%	6%	0%	-3%	2%	-2%	5%	-1%	-2%
ROE	-	9%	9%	12%	-5%	-14%	0%	-20%	7%	-14%	-19%

Bad Net Margins (-1.49%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	09/2015	09/2016	09/2017	09/2018	09/2019	09/2020	09/2021	09/2022	09/2023	09/2024	TTM
Debt over FCF	-	9.13	9.01	9.5	10.53	5.92	5.98	12.23	27.45	23	-95.28
Debt over Equity	1.25	1.27	1.19	1.14	1.37	1.41	1.21	1.65	1.51	1.79	2.03
Growth Stability	-	-	-	100%	-47%	-185%	-	-	-	-	-185%

Good Debt/FCF ratio (-95.28)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Bad Debt/Equity ratio (2.03)

The company is overleveraged and has a bad balance between equity and debt.

Bad Graham’s Stability (-185%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	09/2015	09/2016	09/2017	09/2018	09/2019	09/2020	09/2021	09/2022	09/2023	09/2024	CAGR 5Y
Revenue YoY growth	-	4%	2%	6%	-4%	-3%	12%	5%	7%	-5%	4%
Earnings YoY growth	-	5%	12%	45%	-136%	125%	-103%	-4K%	-139%	-252%	7%
Equity YoY growth	-	-3%	11%	10%	-17%	-15%	4%	-23%	8%	-17%	-8%
FCF YoY growth	-	6%	6%	0%	-11%	56%	-12%	-49%	-56%	18%	-26%