Mativ (MATV)
Market Price (9/13/2026): $11.94 | Market Cap: $658.1 MilSector: Materials | Industry: Specialty Chemicals
Mativ (MATV)
Market Price (9/13/2026): $11.94Market Cap: $658.1 MilSector: MaterialsIndustry: Specialty Chemicals
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 17%, Dividend Yield is 3.4%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 13%, FCF Yield is 19% Megatrend and thematic driversMegatrends include Circular Economy & Recycling, Sustainable Resource Management, and Advanced Materials. Themes include Sustainable Packaging Materials, Show more. | Weak multi-year price returns2Y Excs Rtn is -69%, 3Y Excs Rtn is -88% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 147% Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -2.5% Key risksMATV key risks include [1] high financial leverage and a substantial debt burden, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 17%, Dividend Yield is 3.4%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 13%, FCF Yield is 19% |
| Megatrend and thematic driversMegatrends include Circular Economy & Recycling, Sustainable Resource Management, and Advanced Materials. Themes include Sustainable Packaging Materials, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -69%, 3Y Excs Rtn is -88% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 147% |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -2.5% |
| Key risksMATV key risks include [1] high financial leverage and a substantial debt burden, Show more. |
Qualitative Assessment
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Updated on 9/11/2026
Mativ (MATV) stock has gained about 35% since 5/31/2026 because of the following key factors:
1. Mativ exceeded analyst expectations with its robust fiscal Q2 2026 earnings. The company reported adjusted diluted EPS of $0.50 for the three months ended June 30, 2026, significantly surpassing the consensus estimate of $0.28 by $0.22. Additionally, revenue reached $531.8 million, beating analysts' expectations of $508.5 million. This strong performance represented a notable turnaround, with GAAP net income of $3.6 million in fiscal Q2 2026 compared to a GAAP loss of $9.5 million in the prior year period. The stock experienced a significant jump of over 22% on August 6, 2026, following the earnings announcement.
2. The company demonstrated substantial improvements in profitability and margins. Mativ achieved an adjusted EBITDA of $75.0 million in fiscal Q2 2026, marking a 12% increase year-over-year. The adjusted EBITDA margin expanded to 14.1%, up 130 basis points from the previous year. This enhancement was driven by effective proactive pricing actions, lower selling, general, and administrative (SG&A) costs, and a 26.9% reduction in research and development expenses during the quarter. Gross profit for the quarter rose by 9.3% year-over-year to $113.3 million, with the gross margin improving to 21.3% from 19.7% in fiscal Q2 2025.
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Mativ (MATV) stock has gained about 35% since 5/31/2026 because of the following key factors:
1. Mativ exceeded analyst expectations with its robust fiscal Q2 2026 earnings. The company reported adjusted diluted EPS of $0.50 for the three months ended June 30, 2026, significantly surpassing the consensus estimate of $0.28 by $0.22. Additionally, revenue reached $531.8 million, beating analysts' expectations of $508.5 million. This strong performance represented a notable turnaround, with GAAP net income of $3.6 million in fiscal Q2 2026 compared to a GAAP loss of $9.5 million in the prior year period. The stock experienced a significant jump of over 22% on August 6, 2026, following the earnings announcement.
2. The company demonstrated substantial improvements in profitability and margins. Mativ achieved an adjusted EBITDA of $75.0 million in fiscal Q2 2026, marking a 12% increase year-over-year. The adjusted EBITDA margin expanded to 14.1%, up 130 basis points from the previous year. This enhancement was driven by effective proactive pricing actions, lower selling, general, and administrative (SG&A) costs, and a 26.9% reduction in research and development expenses during the quarter. Gross profit for the quarter rose by 9.3% year-over-year to $113.3 million, with the gross margin improving to 21.3% from 19.7% in fiscal Q2 2025.
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Updated on 9/11/2026
Mativ (MATV) stock has gained about 35% since 5/31/2026 because of the following key factors:
1. Mativ exceeded analyst expectations with its robust fiscal Q2 2026 earnings. The company reported adjusted diluted EPS of $0.50 for the three months ended June 30, 2026, significantly surpassing the consensus estimate of $0.28 by $0.22. Additionally, revenue reached $531.8 million, beating analysts' expectations of $508.5 million. This strong performance represented a notable turnaround, with GAAP net income of $3.6 million in fiscal Q2 2026 compared to a GAAP loss of $9.5 million in the prior year period. The stock experienced a significant jump of over 22% on August 6, 2026, following the earnings announcement.
2. The company demonstrated substantial improvements in profitability and margins. Mativ achieved an adjusted EBITDA of $75.0 million in fiscal Q2 2026, marking a 12% increase year-over-year. The adjusted EBITDA margin expanded to 14.1%, up 130 basis points from the previous year. This enhancement was driven by effective proactive pricing actions, lower selling, general, and administrative (SG&A) costs, and a 26.9% reduction in research and development expenses during the quarter. Gross profit for the quarter rose by 9.3% year-over-year to $113.3 million, with the gross margin improving to 21.3% from 19.7% in fiscal Q2 2025.
3. Strong cash flow generation further bolstered investor confidence. Mativ reported $67.9 million in cash from operating activities in fiscal Q2 2026, an 18% increase compared to the prior year. Furthermore, free cash flow grew by 24% to $60.4 million in the same quarter. For the first six months of fiscal 2026, cash provided by operating activities increased to $68.9 million from $41.7 million in the corresponding period of the prior year.
4. An optimistic outlook for future earnings growth and a favorable valuation contributed to the positive trend. Analysts project Mativ's earnings per share to grow by 28.87% in the next year, from $0.97 to $1.25 per share. The stock's GF Score™ of 67/100, with a strong momentum rank of 8/10, indicates above-average performance. As of September 11, 2026, Mativ's stock is considered undervalued, trading 1.6% below its GF Value™ estimate of $12.13.
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Mativ (MATV) stock has gained about 35% since 5/31/2026 because of the following key factors:
1. Mativ exceeded analyst expectations with its robust fiscal Q2 2026 earnings. The company reported adjusted diluted EPS of $0.50 for the three months ended June 30, 2026, significantly surpassing the consensus estimate of $0.28 by $0.22. Additionally, revenue reached $531.8 million, beating analysts' expectations of $508.5 million. This strong performance represented a notable turnaround, with GAAP net income of $3.6 million in fiscal Q2 2026 compared to a GAAP loss of $9.5 million in the prior year period. The stock experienced a significant jump of over 22% on August 6, 2026, following the earnings announcement.
2. The company demonstrated substantial improvements in profitability and margins. Mativ achieved an adjusted EBITDA of $75.0 million in fiscal Q2 2026, marking a 12% increase year-over-year. The adjusted EBITDA margin expanded to 14.1%, up 130 basis points from the previous year. This enhancement was driven by effective proactive pricing actions, lower selling, general, and administrative (SG&A) costs, and a 26.9% reduction in research and development expenses during the quarter. Gross profit for the quarter rose by 9.3% year-over-year to $113.3 million, with the gross margin improving to 21.3% from 19.7% in fiscal Q2 2025.
3. Strong cash flow generation further bolstered investor confidence. Mativ reported $67.9 million in cash from operating activities in fiscal Q2 2026, an 18% increase compared to the prior year. Furthermore, free cash flow grew by 24% to $60.4 million in the same quarter. For the first six months of fiscal 2026, cash provided by operating activities increased to $68.9 million from $41.7 million in the corresponding period of the prior year.
4. An optimistic outlook for future earnings growth and a favorable valuation contributed to the positive trend. Analysts project Mativ's earnings per share to grow by 28.87% in the next year, from $0.97 to $1.25 per share. The stock's GF Score™ of 67/100, with a strong momentum rank of 8/10, indicates above-average performance. As of September 11, 2026, Mativ's stock is considered undervalued, trading 1.6% below its GF Value™ estimate of $12.13.
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Stock Movement Drivers
Fundamental Drivers
The 35.6% change in MATV stock from 5/31/2026 to 9/12/2026 was primarily driven by a 16.8% change in the company's Net Income Margin (%).| (LTM values as of) | 5312026 | 9122026 | Change |
|---|---|---|---|
| Stock Price ($) | 8.81 | 11.94 | 35.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,982 | 1,988 | 0.3% |
| Net Income Margin (%) | 3.9% | 4.5% | 16.8% |
| P/E Multiple | 6.3 | 7.4 | 16.3% |
| Shares Outstanding (Mil) | 55 | 55 | -0.5% |
| Cumulative Contribution | 35.6% |
Market Drivers
5/31/2026 to 9/12/2026| Return | Correlation | |
|---|---|---|
| MATV | 35.6% | |
| Market (SPY) | 1.0% | 13.0% |
| Sector (XLB) | -0.4% | 26.6% |
Fundamental Drivers
The 13.5% change in MATV stock from 2/28/2026 to 9/12/2026 was primarily driven by a 14.4% change in the company's P/S Multiple.| (LTM values as of) | 2282026 | 9122026 | Change |
|---|---|---|---|
| Stock Price ($) | 10.52 | 11.94 | 13.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,987 | 1,988 | 0.1% |
| P/S Multiple | 0.3 | 0.3 | 14.4% |
| Shares Outstanding (Mil) | 55 | 55 | -0.8% |
| Cumulative Contribution | 13.5% |
Market Drivers
2/28/2026 to 9/12/2026| Return | Correlation | |
|---|---|---|
| MATV | 13.5% | |
| Market (SPY) | 11.7% | 24.2% |
| Sector (XLB) | -4.2% | 38.0% |
Fundamental Drivers
The -1.3% change in MATV stock from 8/31/2025 to 9/12/2026 was primarily driven by a -1.5% change in the company's P/S Multiple.| (LTM values as of) | 8312025 | 9122026 | Change |
|---|---|---|---|
| Stock Price ($) | 12.10 | 11.94 | -1.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,967 | 1,988 | 1.1% |
| P/S Multiple | 0.3 | 0.3 | -1.5% |
| Shares Outstanding (Mil) | 55 | 55 | -0.9% |
| Cumulative Contribution | -1.3% |
Market Drivers
8/31/2025 to 9/12/2026| Return | Correlation | |
|---|---|---|
| MATV | -1.3% | |
| Market (SPY) | 19.5% | 23.5% |
| Sector (XLB) | 12.0% | 38.8% |
Fundamental Drivers
The -18.5% change in MATV stock from 8/31/2023 to 9/12/2026 was primarily driven by a -11.0% change in the company's P/S Multiple.| (LTM values as of) | 8312023 | 9122026 | Change |
|---|---|---|---|
| Stock Price ($) | 14.65 | 11.94 | -18.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,151 | 1,988 | -7.6% |
| P/S Multiple | 0.4 | 0.3 | -11.0% |
| Shares Outstanding (Mil) | 55 | 55 | -0.8% |
| Cumulative Contribution | -18.5% |
Market Drivers
8/31/2023 to 9/12/2026| Return | Correlation | |
|---|---|---|
| MATV | -18.5% | |
| Market (SPY) | 75.7% | 36.7% |
| Sector (XLB) | 29.7% | 44.6% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| MATV Return | -22% | -25% | -23% | -27% | 17% | 5% | -60% |
| Peers Return | 13% | -14% | 5% | 22% | 3% | -2% | 27% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 11% | 102% |
Monthly Win Rates [3] | |||||||
| MATV Win Rate | 33% | 50% | 42% | 25% | 33% | 44% | |
| Peers Win Rate | 57% | 42% | 47% | 52% | 48% | 49% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 44% | |
Max Drawdowns [4] | |||||||
| MATV Max Drawdown | -42% | -38% | -57% | -42% | -58% | -51% | |
| Peers Max Drawdown | -16% | -29% | -22% | -15% | -25% | -24% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: MMM, AVY, KMB, IP, DCI.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/11/2026 (YTD)
How Low Can It Go
| Event | MATV | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -48.7% | -18.8% |
| % Gain to Breakeven | 95.0% | 23.1% |
| Time to Breakeven | 109 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -21.6% | -9.5% |
| % Gain to Breakeven | 27.6% | 10.5% |
| Time to Breakeven | 21 days | 24 days |
| 2020 COVID-19 Crash | ||
| % Loss | -38.3% | -33.7% |
| % Gain to Breakeven | 62.2% | 50.9% |
| Time to Breakeven | 74 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -31.1% | -19.2% |
| % Gain to Breakeven | 45.1% | 23.8% |
| Time to Breakeven | 60 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -14.8% | -12.2% |
| % Gain to Breakeven | 17.3% | 13.9% |
| Time to Breakeven | 50 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -19.1% | -6.8% |
| % Gain to Breakeven | 23.6% | 7.3% |
| Time to Breakeven | 76 days | 15 days |
In The Past
Mativ's stock fell -48.7% during the 2025 US Tariff Shock. Such a loss loss requires a 95.0% gain to breakeven.
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| Event | MATV | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -48.7% | -18.8% |
| % Gain to Breakeven | 95.0% | 23.1% |
| Time to Breakeven | 109 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -21.6% | -9.5% |
| % Gain to Breakeven | 27.6% | 10.5% |
| Time to Breakeven | 21 days | 24 days |
| 2020 COVID-19 Crash | ||
| % Loss | -38.3% | -33.7% |
| % Gain to Breakeven | 62.2% | 50.9% |
| Time to Breakeven | 74 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -31.1% | -19.2% |
| % Gain to Breakeven | 45.1% | 23.8% |
| Time to Breakeven | 60 days | 105 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -50.6% | -53.4% |
| % Gain to Breakeven | 102.3% | 114.4% |
| Time to Breakeven | 245 days | 1085 days |
| Summer 2007 Credit Crunch | ||
| % Loss | -35.0% | -8.6% |
| % Gain to Breakeven | 53.7% | 9.5% |
| Time to Breakeven | 706 days | 47 days |
In The Past
Mativ's stock fell -48.7% during the 2025 US Tariff Shock. Such a loss loss requires a 95.0% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Mativ (MATV)
Mativ Holdings, Inc. (MATV) is a global company that provides advanced engineered solutions and specialized materials across diverse industries. The company operates through two primary segments: Advanced Materials & Structures and Engineered Papers, catering to a wide range of customers with unique product requirements.
The Advanced Materials & Structures segment focuses on manufacturing and selling resin-based rolled goods, which include various nets, films, and meltblown materials. This segment also provides bonding products, adhesive components, and specialized coating solutions, along with converting services. Its products are critical for applications in healthcare, construction, industrial, transportation, and filtration end-markets.
The Engineered Papers segment is a leading provider of highly specialized papers. This includes low ignition propensity (LIP) cigarette papers designed for safety, reconstituted tobacco leaf, and wrapper and binder products for machine-made cigars. Additionally, this segment produces alkaline battery separator papers, commodity paper grades for printing and writing, flooring laminates, and food service packaging. Mativ also offers its Botani line, providing hemp wraps, fillers, and rolling/pre-roll papers for the natural fibers industry.
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A specialized, B2B version of 3M, providing engineered materials and advanced components for diverse industries like healthcare, construction, and tobacco.
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- Resin-based Rolled Goods: Manufactures materials such as nets, films, and meltblown materials for various industrial, healthcare, and transportation applications.
- Bonding Products & Adhesive Components: Provides specialized products for joining and adhering different materials across various industries.
- Coating & Converting Services: Offers solutions for applying coatings and transforming materials to meet specific client needs.
- Low Ignition Propensity (LIP) Cigarette Papers: Produces specialized papers designed to self-extinguish when not actively being smoked.
- Reconstituted Tobacco Leaf & Cigar Components: Supplies processed tobacco leaf, wrappers, and binders primarily for machine-made cigars.
- Alkaline Battery Separator Papers: Manufactures critical paper components used to separate elements within alkaline batteries.
- Commodity Paper Grades: Provides various paper grades for applications including printing, writing, flooring laminates, and food service packaging.
- Botani Hemp & Botanical Solutions: Offers a range of hemp and botanical products, including wraps, fillers, and rolling/pre-roll papers.
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Shruti Singhal, President and Chief Executive Officer
Shruti Singhal is Mativ's President and Chief Executive Officer and serves on its Board of Directors. He brings extensive expertise leading transformations through strong operational and commercial execution, profitability initiatives, and driving innovation. Prior to Mativ, he served as Chief Executive Officer of Galata Chemicals and Chroma Color.
Scott Minder, Chief Financial Officer
Scott Minder is Mativ's Chief Financial Officer, effective January 1, 2026. He brings over 30 years of financial leadership experience across industrial, manufacturing, and automotive sectors. Most recently, Mr. Minder served as Senior Vice President, Chief Financial Officer, and Treasurer for Hyster-Yale, Inc., where he led a successful financial turnaround, strengthened the balance sheet through significant deleveraging, and executed multiple credit rating upgrades. He previously held senior finance leadership roles at ATI Inc. and PPG Industries, and finance and operational leadership positions with Penske Logistics and General Motors.
Ryan Elwart, Group President
Ryan Elwart is Mativ's Group President.
Mark Johnson, Chief Legal and Administrative Officer
Mark Johnson is Mativ's Chief Legal and Administrative Officer. Before joining Mativ, he served as Executive Vice President, Chief Legal Officer, and Corporate Secretary for Kimball International. He also held the position of president of Kimball International's Hospitality business unit and previously held leadership roles at Newell Brands.
Rajeev Kapur, Chief Information Officer
Rajeev Kapur is Mativ's Chief Information Officer. Prior to Mativ, he was the Vice President of Commercial Transformation and previously served as the first Chief Data Officer at Kimberly Clark. Mr. Kapur has also held multiple leadership roles at global brand organizations including Under Armor, Newell Brands, Nike Inc., and Lucent Technologies.
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Key Risks to Mativ Holdings, Inc. (MATV)
- High Leverage and Debt: Mativ Holdings, Inc. faces significant financial risk due to its substantial debt levels and high debt-to-capital ratio. As of June 30, 2025, total debt was reported at $1,090.6 million with a 72.4% debt/capital ratio, indicating considerable leverage. This elevated debt creates refinancing risks, particularly with major maturities in 2027 ($589.1 million) and 2029 ($400 million), and can consume a notable portion of operating cash flow for interest payments, potentially limiting financial flexibility.
- Goodwill Impairment and Demand/Pricing Pressures in Key Segments: The company recorded a significant non-cash goodwill impairment charge of $411.9 million in its Advanced Materials & Structures (now part of the Filtration & Advanced Materials) segment in Q1 2025, driven by a sustained decline in the company's share price. This reflects underlying challenges in demand and pricing. The Filtration & Advanced Materials segment has experienced "lower selling prices" and is susceptible to "cyclical demand" for its products, leading to revenue fluctuations. Furthermore, soft demand has been noted in certain areas of the Sustainable & Adhesive Solutions segment, such as automotive tapes, industrial labels, and release liners in Europe.
- Input Cost Volatility: Mativ has historically contended with significant input cost inflation for key raw materials like resins, pulp, and energy. While there have been periods where these costs started to normalize, the company anticipates "input cost headwinds for 2026," indicating that raw material price fluctuations remain a material risk that can impact profitability and margins.
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1. The accelerating decline in demand for traditional combustible tobacco products, driven by the widespread adoption of e-cigarettes, vaping devices, and other alternative nicotine delivery systems. This directly threatens Mativ's Engineered Papers segment, which produces low ignition propensity cigarette papers and reconstituted tobacco leaf and wrapper products for cigars.
2. The increasing dominance of lithium-ion and other advanced rechargeable battery technologies across various industries and consumer products. This technological shift poses a clear threat to Mativ's alkaline battery separator papers business within its Engineered Papers segment, as demand for traditional alkaline batteries potentially wanes in favor of more advanced alternatives.
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Mativ Holdings, Inc. (symbol: MATV) participates in several addressable markets for its engineered solutions and advanced materials. The market sizes for some of their main products and services are identified below:
- Filtration Media and Components: The global industrial filtration market size was calculated at USD 43.38 billion in 2025 and is predicted to increase to approximately USD 68.46 billion by 2034, expanding at a CAGR of 5.20% from 2025 to 2034.
- Healthcare Materials (e.g., nonwoven disposables): The global medical nonwoven disposables market size was valued at USD 27.51 billion in 2024 and is projected to reach approximately USD 44.03 billion by 2034.
- Construction Materials Components: The global construction materials market size was valued at USD 1.5 trillion in 2022 and is expected to grow at a CAGR of 4.1% over the forecast period. This market includes various materials, within which Mativ provides specialized components like nets, films, meltblown materials, bonding products, and adhesive components.
- Low Ignition Propensity (LIP) Cigarette Papers: The global cigarette paper market size was valued at USD 1.2 billion in 2023 and is projected to reach USD 1.8 billion by 2032, growing at a compound annual growth rate (CAGR) of 4.5% from 2024 to 2032.
- Reconstituted Tobacco Leaf: The global reconstituted tobacco leaf market size was estimated to be worth USD 1.2 billion in 2023 and is expected to reach approximately USD 2.3 billion by 2032, growing at a CAGR of 7.2% during the forecast period.
- Cigar Wrapper and Binder Products: The global cigar market size was valued at USD 58.25 billion in 2024 and is projected to reach USD 160.23 billion by 2033, growing at a CAGR of 11.90% during the forecast period (2025-2033). This market includes the filler, binder leaf, and wrapper leaf used in cigars.
- Alkaline Battery Separator Papers: The global battery separator paper market is estimated to be valued at USD 276.5 million in 2025 and is projected to reach USD 417.3 million by 2035, registering a compound annual growth rate (CAGR) of 4.2% over the forecast period.
-
Botani (Hemp and Botanical Solutions, including hemp wraps, fillers, and rolling/pre-roll papers):
- Hemp Rolling Papers: Within the global cigarette rolling paper sales market, hemp rolling papers represented the dominant subsegment, commanding an estimated 58.2% market share as of 2026. The overall cigarette rolling paper sales market size was valued at USD 12.5 billion in 2024 and is projected to reach USD 18.9 billion by 2032. Based on this, the hemp rolling paper market would be approximately USD 7.275 billion in 2024 (58.2% of USD 12.5 billion).
- Blunt Wraps (which can include hemp wraps): The global blunt wrap market size reached USD 1.62 billion in 2024 and is forecasted to grow to USD 2.75 billion by 2033.
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Mativ Holdings, Inc. (MATV) is expected to drive future revenue growth over the next 2-3 years through a combination of strategic initiatives focusing on commercial excellence, targeted growth in advanced materials, effective pricing strategies, and anticipating a recovery in market volumes.
- Commercial Excellence and Market Share Expansion: Mativ is focused on driving organic growth by leveraging its unified sales force to collaborate across segments. This strategy aims to expand its growth pipeline by delivering innovative solutions to both existing and new customers, and to achieve market share growth.
- Strategic Focus on High-Growth Advanced Materials: The company plans to increase its focus on higher-growth categories, particularly within its Filtration and Advanced Materials (FAM) segment. This includes advanced films, transportation and industrial filtration, paint protection films, and erosion control netting, which have demonstrated double-digit growth. Mativ was also awarded new recurring business for its proprietary UV reflective film, indicating success in this area. The company has allocated approximately 50% of its planned 2026 capital expenditures towards growth projects to support these initiatives.
- Disciplined Pricing Execution and Value Maximization: Mativ has demonstrated successful pricing execution, which has allowed it to manage the balance between selling prices and input costs effectively. This includes covering raw material inflation and capturing additional value through innovation and supply chain efficiency, particularly noted in its Sustainable and Adhesive Solutions (SAS) segment. The company expects to continue leveraging this capability to offset potential raw material cost headwinds in 2026.
- Anticipated Volume Recovery: After experiencing sequential improvements in volume in the first and second quarters of 2024, Mativ expects continued volume recovery. This indicates a potential rebound in overall market demand, which would contribute to increased sales.
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Share Repurchases
- Mativ completed the repurchase of 539,386 shares for $7.99 million under a buyback plan announced on August 1, 2023.
- The company repurchased 0 shares for $0 million between October 1, 2025, and December 31, 2025.
- Mativ plans to opportunistically repurchase shares to offset dilution once its leverage returns to target range, prioritizing debt reduction until then.
Share Issuance
- Between December 31, 2024, and September 30, 2025, the number of issued and outstanding shares increased from 54,335,830 to 54,681,114.
Inbound Investments
- On December 31, 2024, BlackRock, Inc. acquired an additional 737,633 shares of Mativ Holdings Inc. at $10.90 per share, increasing its total holdings to 10,059,391 shares.
Capital Expenditures
- Mativ's capital expenditures were $40 million in 2025. The company reduced annual capital expenditures by $15 million in 2025, prioritizing safety and growth projects.
- In 2024, capital spending and software costs totaled $55.6 million.
- The company plans capital expenditures of $45 million for 2026, with an equal focus on growth and efficiency initiatives.
Peer Outperformance in Specialty Chemicals
MATV has trailed 80% of its 40 Specialty Chemicals peers over 5Y. Among the peers that beat it are NEU, AXTA and IOSP. Specialty Chemicals ranks 10th of 15 industries in Materials by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Specialty Chemicals constituents that MATV has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
36%
of 45 industry peers · 0.7% return
3Y
37%
of 43 industry peers · -11.8% return
5Y
20%
of 40 industry peers · -56.7% return
Specialty Chemicals peers with revenue growth within 4pp of MATV's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| MATV | Mativ | -2.5% | 7.4x | 0.7% | -11.8% | -56.7% | — |
| NEU | NewMarket | -0.3% | 18.7x | 7.6% | 107.6% | 196.6% | +253pp |
| AXTA | Axalta Coating Systems | 0.7% | 20.9x | 9.6% | 27.5% | 16.7% | +73pp |
| IOSP | Innospec | -2.8% | 18.9x | 15.5% | -8.3% | 12.9% | +70pp |
| AVNT | Avient | 0.5% | 22.3x | 18.0% | 22.4% | -0.7% | +56pp |
| MTX | Minerals Technologies | 0.1% | -31.8x | 9.0% | 27.8% | -4.9% | +52pp |
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Materials sector, ranked by 5Y. Specialty Chemicals is MATV's own industry. Use this to see which corners of the sector have carried the returns.
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Copper | 7 | 73.5% | 89.4% | 288.0% | COPR 1050% · TGB 335% · HBM 333% |
| Steel | 13 | 27.6% | 50.2% | 155.9% | HCC 339% · AMR 317% · NWPX 315% |
| Silver | 6 | 106.1% | 346.8% | 149.6% | AYA 240% · HL 228% · SVM 183% |
| Gold | 34 | 28.2% | 198.7% | 148.7% | IAG 762% · CNL 485% · OGC 455% |
| Aluminum | 3 | 68.8% | 129.6% | 57.6% | CENX 239% · KALU 58% · AA 3% |
| Construction Materials | 7 | -20.5% | 20.2% | 44.7% | USLM 345% · CRH 85% · VMC 48% |
| Diversified Metals & Mining | 23 | -13.3% | 1.8% | 17.3% | ATLX 216329% · USAR 52115% · TII 699% |
| Metal, Glass & Plastic Containers | 10 | -6.3% | 13.1% | 5.0% | KRT 158% · MYE 65% · GEF 49% |
| Paper & Plastic Packaging Products & Materials | 7 | 4.5% | 8.3% | -11.6% | PKG 79% · CCK 13% · SON -8% |
| Specialty Chemicals ← | 41 | 7.4% | -2.4% | -15.7% | ODC 459% · NEU 197% · CMT 81% |
| Commodity Chemicals | 12 | 18.6% | -11.1% | -25.3% | HWKN 265% · LXU 81% · MEOH 72% |
| Diversified Chemicals | 4 | -2.5% | -26.6% | -29.7% | CBT 74% · ASH -16% · CC -44% |
| Precious Metals & Minerals | 8 | 38.9% | 186.7% | -30.2% | ASM 596% · PPTA 375% · MTA 36% |
| Fertilizers & Agricultural Chemicals | 10 | -5.6% | -2.9% | -33.3% | CF 218% · CTVA 106% · NTR 50% |
| Paper Products | 3 | -20.3% | -51.4% | -96.0% | CLW -40% · MERC -96% · ITP -96% |
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 93.70 |
| Mkt Cap | 15.6 |
| Rev LTM | 12,915 |
| Op Inc LTM | 877 |
| FCF LTM | 762 |
| FCF 3Y Avg | 579 |
| CFO LTM | 1,940 |
| CFO 3Y Avg | 1,412 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 3.4% |
| Rev Chg 3Y Avg | 3.0% |
| Rev Chg Q | 1.8% |
| QoQ Delta Rev Chg LTM | 0.5% |
| Op Inc Chg LTM | 4.4% |
| Op Inc Chg 3Y Avg | 7.1% |
| Op Mgn LTM | 13.9% |
| Op Mgn 3Y Avg | 13.1% |
| QoQ Delta Op Mgn LTM | 0.2% |
| CFO/Rev LTM | 12.7% |
| CFO/Rev 3Y Avg | 12.0% |
| FCF/Rev LTM | 10.6% |
| FCF/Rev 3Y Avg | 8.5% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Sustainable & Adhesive Solutions (SAS) | 1,220 | 1,215 | 1,216 | 860 | |
| Filtration & Advanced Materials (FAM) | 768 | 766 | 810 | 777 | |
| Advanced Technical Materials (ATM) | 931 | ||||
| Fiber-Based Solutions (FBS) | 0 | ||||
| Total | 1,987 | 1,981 | 2,026 | 1,637 | 931 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Sustainable & Adhesive Solutions (SAS) | 86 | 45 | -376 | 24 | |
| Unallocated | -110 | -109 | -137 | -155 | -79 |
| Filtration & Advanced Materials (FAM) | -360 | 70 | 99 | 91 | |
| Advanced Technical Materials (ATM) | 62 | ||||
| Fiber-Based Solutions (FBS) | 1 | ||||
| Total | -384 | 6 | -414 | -40 | -16 |
| $ Mil | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|
| Advanced Technical Materials (ATM) | 781 | 796 | 538 | 569 | 648 |
| Fiber-Based Solutions (FBS) | 512 | 527 | 812 | 505 | |
| Unallocated | 178 | 143 | 193 | 99 | 134 |
| Paper | 507 | ||||
| Total | 1,472 | 1,466 | 1,543 | 1,174 | 1,290 |
Price Behavior
Price Behavior
| Market Price | $11.94 | |
| Market Cap ($ Bil) | 0.7 | |
| First Trading Date | 12/29/2006 | |
| Distance from 52W High | -18.2% | |
| 50 Days | 200 Days | |
| DMA Price | $10.25 | $10.19 |
| DMA Trend | up | up |
| Distance from DMA | 16.5% | 17.1% |
| 3M | 1YR | |
| Volatility | 62.6% | 56.9% |
| Downside Capture | -69.73 | 82.99 |
| Upside Capture | 134.91 | 68.20 |
| Correlation (SPY) | 10.9% | 24.5% |
MATV Betas & Captures as of 8/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.80 | 0.99 | 0.59 | 1.02 | 1.07 | 1.64 |
| Up Beta | 1.33 | -0.08 | -0.70 | 0.80 | 1.44 | 2.03 |
| Down Beta | 9.43 | 3.35 | 2.12 | 1.78 | 1.65 | 1.69 |
| Up Capture | 217% | 296% | 119% | 87% | 53% | 155% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 11 | 23 | 34 | 61 | 116 | 356 |
| Down Capture | -552% | -154% | -30% | 87% | 87% | 109% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 9 | 18 | 29 | 65 | 132 | 386 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MATV | |
|---|---|---|---|---|
| MATV | 1.8% | 56.7% | 0.23 | - |
| Sector ETF (XLB) | 14.0% | 17.9% | 0.58 | 38.6% |
| Equity (SPY) | 18.3% | 12.8% | 1.03 | 24.1% |
| Gold (GLD) | 19.0% | 29.2% | 0.59 | 12.7% |
| Commodities (DBC) | 48.3% | 20.6% | 1.80 | -11.8% |
| Real Estate (VNQ) | 7.6% | 13.6% | 0.29 | 21.9% |
| Bitcoin (BTCUSD) | -32.4% | 43.8% | -0.77 | 8.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MATV | |
|---|---|---|---|---|
| MATV | -16.6% | 59.0% | -0.09 | - |
| Sector ETF (XLB) | 5.5% | 19.1% | 0.18 | 42.6% |
| Equity (SPY) | 12.5% | 17.2% | 0.55 | 35.0% |
| Gold (GLD) | 18.7% | 18.8% | 0.81 | 5.3% |
| Commodities (DBC) | 11.4% | 19.5% | 0.46 | 7.0% |
| Real Estate (VNQ) | 0.7% | 18.9% | -0.07 | 30.8% |
| Bitcoin (BTCUSD) | 9.4% | 52.6% | 0.36 | 14.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MATV | |
|---|---|---|---|---|
| MATV | -6.7% | 49.0% | 0.04 | - |
| Sector ETF (XLB) | 9.8% | 20.7% | 0.42 | 46.5% |
| Equity (SPY) | 15.2% | 17.9% | 0.72 | 39.9% |
| Gold (GLD) | 12.3% | 16.3% | 0.62 | 5.0% |
| Commodities (DBC) | 8.7% | 18.1% | 0.39 | 12.2% |
| Real Estate (VNQ) | 4.7% | 20.7% | 0.19 | 36.3% |
| Bitcoin (BTCUSD) | 63.2% | 66.2% | 1.03 | 11.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 9/8/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/5/2026 | 22.0% | 30.6% | 31.9% |
| 5/6/2026 | 1.2% | -6.1% | -19.0% |
| 2/18/2026 | -8.0% | -23.7% | -41.8% |
| 11/5/2025 | 21.9% | 25.5% | 12.9% |
| 8/6/2025 | 34.7% | 77.7% | 99.5% |
| 5/7/2025 | 8.9% | 21.5% | 24.8% |
| 2/19/2025 | -17.8% | -23.2% | -30.0% |
| 11/6/2024 | -21.1% | -29.3% | -29.8% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 15 | 14 | 12 |
| # Negative | 9 | 10 | 12 |
| Median Positive | 8.9% | 15.0% | 18.3% |
| Median Negative | -8.0% | -7.8% | -15.8% |
| Max Positive | 42.7% | 77.7% | 99.5% |
| Max Negative | -21.1% | -29.3% | -41.8% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/5/2026 | 22.0% | 30.6% | 31.9% |
| 5/6/2026 | 1.2% | -6.1% | -19.0% |
| 2/18/2026 | -8.0% | -23.7% | -41.8% |
| 11/5/2025 | 21.9% | 25.5% | 12.9% |
| 8/6/2025 | 34.7% | 77.7% | 99.5% |
| 5/7/2025 | 8.9% | 21.5% | 24.8% |
| 2/19/2025 | -17.8% | -23.2% | -30.0% |
| 11/6/2024 | -21.1% | -29.3% | -29.8% |
| 8/7/2024 | 28.4% | 23.9% | 26.0% |
| 5/8/2024 | -0.3% | -4.0% | -8.8% |
| 2/21/2024 | 42.7% | 41.1% | 53.1% |
| 11/8/2023 | 3.8% | 8.3% | -5.5% |
| 8/9/2023 | 0.5% | -2.1% | -12.2% |
| 5/10/2023 | 1.7% | 2.6% | 3.1% |
| 2/22/2023 | 10.7% | 1.3% | -19.5% |
| 11/9/2022 | -11.4% | -19.0% | -12.6% |
| 8/9/2022 | 12.2% | 24.8% | 23.8% |
| 5/4/2022 | -2.7% | -0.9% | 5.7% |
| 2/23/2022 | 2.3% | 7.2% | 5.6% |
| 11/3/2021 | -15.2% | -9.5% | -22.6% |
| 8/4/2021 | 1.2% | 0.2% | -1.6% |
| 5/5/2021 | -0.6% | -6.1% | -11.3% |
| 2/18/2021 | 4.5% | 8.6% | 9.1% |
| 11/4/2020 | -0.4% | 6.8% | 0.2% |
| SUMMARY STATS | |||
| # Positive | 15 | 14 | 12 |
| # Negative | 9 | 10 | 12 |
| Median Positive | 8.9% | 15.0% | 18.3% |
| Median Negative | -8.0% | -7.8% | -15.8% |
| Max Positive | 42.7% | 77.7% | 99.5% |
| Max Negative | -21.1% | -29.3% | -41.8% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/06/2026 | 10-Q |
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/10/2023 | 10-Q |
| 12/31/2022 | 03/01/2023 | 10-K |
| 09/30/2022 | 11/09/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/06/2026 | 10-Q |
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/10/2023 | 10-Q |
| 12/31/2022 | 03/01/2023 | 10-K |
| 09/30/2022 | 11/09/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| 03/31/2022 | 05/04/2022 | 10-Q |
| 12/31/2021 | 03/01/2022 | 10-K |
| 09/30/2021 | 11/03/2021 | 10-Q |
| 06/30/2021 | 08/04/2021 | 10-Q |
| 03/31/2021 | 05/05/2021 | 10-Q |
| 12/31/2020 | 03/01/2021 | 10-K |
| 09/30/2020 | 11/04/2020 | 10-Q |
| 06/30/2020 | 08/05/2020 | 10-Q |
| 03/31/2020 | 05/06/2020 | 10-Q |
| 12/31/2019 | 03/02/2020 | 10-K |
| 09/30/2019 | 11/04/2019 | 10-Q |
Industry Resources
| Materials Resources |
| Chemical & Engineering News (C&EN) |
| Mining.com |
| Plastics News |
| Specialty Chemicals Resources |
| SpecialChem |
| Chemical Week |
| ICIS |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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Core Cache Last Updated: 9/12/2026