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Matthews International (MATW)

Market Price (5/22/2026): $26.46 | Market Cap: $833.1 Mil
Sector: Consumer Discretionary | Industry: Specialized Consumer Services

Matthews International (MATW)

Market Price (5/22/2026): $26.46
Market Cap: $833.1 Mil
Sector: Consumer Discretionary
Industry: Specialized Consumer Services

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

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Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.2%, Dividend Yield is 4.0%

Low stock price volatility
Vol 12M is 34%

Megatrend and thematic drivers
Megatrends include Automation & Robotics, Circular Economy & Recycling, and E-commerce & DTC Adoption. Themes include Process / Warehouse Automation, Show more.

Weak multi-year price returns
2Y Excs Rtn is -44%, 3Y Excs Rtn is -103%

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -6.2 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -0.5%

Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 72%

Expensive valuation multiples
P/EPrice/Earnings or Price/(Net Income) is 86x

Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -29%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -11%, Rev Chg QQuarterly Revenue Change % is -40%

Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -6.0%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -8.2%

Significant short interest
Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 17.09

Key risks
MATW key risks include [1] a substantial debt burden creating significant liquidity pressure and [2] protracted, Show more.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.2%, Dividend Yield is 4.0%
1 Low stock price volatility
Vol 12M is 34%
2 Megatrend and thematic drivers
Megatrends include Automation & Robotics, Circular Economy & Recycling, and E-commerce & DTC Adoption. Themes include Process / Warehouse Automation, Show more.
3 Weak multi-year price returns
2Y Excs Rtn is -44%, 3Y Excs Rtn is -103%
4 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -6.2 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -0.5%
5 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 72%
6 Expensive valuation multiples
P/EPrice/Earnings or Price/(Net Income) is 86x
7 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -29%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -11%, Rev Chg QQuarterly Revenue Change % is -40%
8 Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -6.0%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -8.2%
9 Significant short interest
Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 17.09
10 Key risks
MATW key risks include [1] a substantial debt burden creating significant liquidity pressure and [2] protracted, Show more.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Matthews International (MATW) stock has remained largely at the same level since 1/31/2026 because of the following key factors:

1. Better-than-expected fiscal second-quarter 2026 earnings results.

Matthews International reported adjusted earnings per share of $0.37 for its fiscal second quarter ended March 2026, significantly beating the Zacks Consensus Estimate of $0.17 by $0.20, representing a 124.24% surprise. The company's revenue of $258.62 million also surpassed analyst estimates of $253.65 million by 1.96%.

2. Significant debt reduction and reaffirmed fiscal year guidance.

The company strategically redeemed $300 million of 8.625% Senior Secured Second Lien Notes due 2027 during the fiscal second quarter, leading to reduced interest expense. This action decreased total long-term debt to $579 million from $822 million a year prior. Management maintained its fiscal 2026 adjusted EBITDA outlook of $180 million, signaling confidence in its financial trajectory.

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Stock Movement Drivers

Fundamental Drivers

The 2.5% change in MATW stock from 1/31/2026 to 5/21/2026 was primarily driven by a 28.1% change in the company's P/S Multiple.
(LTM values as of)13120265212026Change
Stock Price ($)25.8126.452.5%
Change Contribution By: 
Total Revenues ($ Mil)1,4981,212-19.1%
P/S Multiple0.50.728.1%
Shares Outstanding (Mil)3131-1.1%
Cumulative Contribution2.5%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2026 to 5/21/2026
ReturnCorrelation
MATW2.5% 
Market (SPY)7.6%52.7%
Sector (XLY)-1.8%44.8%

Fundamental Drivers

The 16.3% change in MATW stock from 10/31/2025 to 5/21/2026 was primarily driven by a 58.1% change in the company's P/S Multiple.
(LTM values as of)103120255212026Change
Stock Price ($)22.7526.4516.3%
Change Contribution By: 
Total Revenues ($ Mil)1,6261,212-25.5%
P/S Multiple0.40.758.1%
Shares Outstanding (Mil)3131-1.3%
Cumulative Contribution16.3%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 5/21/2026
ReturnCorrelation
MATW16.3% 
Market (SPY)9.5%31.7%
Sector (XLY)-0.7%31.4%

Fundamental Drivers

The 36.2% change in MATW stock from 4/30/2025 to 5/21/2026 was primarily driven by a 93.4% change in the company's P/S Multiple.
(LTM values as of)43020255212026Change
Stock Price ($)19.4126.4536.2%
Change Contribution By: 
Total Revenues ($ Mil)1,7041,212-28.9%
P/S Multiple0.40.793.4%
Shares Outstanding (Mil)3131-0.9%
Cumulative Contribution36.2%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2025 to 5/21/2026
ReturnCorrelation
MATW36.2% 
Market (SPY)35.5%36.7%
Sector (XLY)21.3%40.0%

Fundamental Drivers

The -21.8% change in MATW stock from 4/30/2023 to 5/21/2026 was primarily driven by a -33.0% change in the company's Total Revenues ($ Mil).
(LTM values as of)43020235212026Change
Stock Price ($)33.8226.45-21.8%
Change Contribution By: 
Total Revenues ($ Mil)1,8081,212-33.0%
P/S Multiple0.60.719.4%
Shares Outstanding (Mil)3131-2.3%
Cumulative Contribution-21.8%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2023 to 5/21/2026
ReturnCorrelation
MATW-21.8% 
Market (SPY)85.6%38.9%
Sector (XLY)64.5%40.1%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
MATW Return28%-15%23%-22%-2%6%10%
Peers Return39%-19%4%19%-8%-1%27%
S&P 500 Return27%-19%24%23%16%9%98%

Monthly Win Rates [3]
MATW Win Rate58%25%58%42%50%60% 
Peers Win Rate73%37%48%52%40%40% 
S&P 500 Win Rate75%42%67%75%67%60% 

Max Drawdowns [4]
MATW Max Drawdown-25%-39%-29%-40%-39%-16% 
Peers Max Drawdown-14%-34%-26%-13%-27%-20% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 

[1] Cumulative total returns since the beginning of 2021
[2] Peers: SCI, DOV, DHR, ZBRA, HON.
[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 5/21/2026 (YTD)

How Low Can It Go

EventMATWS&P 500
2025 US Tariff Shock
  % Loss-25.0%-18.8%
  % Gain to Breakeven33.2%23.1%
  Time to Breakeven57 days79 days
2022 Inflation Shock & Fed Tightening
  % Loss-38.2%-24.5%
  % Gain to Breakeven61.7%32.4%
  Time to Breakeven90 days427 days
2020 COVID-19 Crash
  % Loss-41.8%-33.7%
  % Gain to Breakeven71.8%50.9%
  Time to Breakeven307 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-21.7%-19.2%
  % Gain to Breakeven27.8%23.8%
  Time to Breakeven1654 days105 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-13.0%-12.2%
  % Gain to Breakeven14.9%13.9%
  Time to Breakeven106 days62 days
2014-2016 Oil Price Collapse
  % Loss-10.4%-6.8%
  % Gain to Breakeven11.6%7.3%
  Time to Breakeven24 days15 days

Compare to SCI, DOV, DHR, ZBRA, HON

In The Past

Matthews International's stock fell -25.0% during the 2025 US Tariff Shock. Such a loss loss requires a 33.2% 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.

EventMATWS&P 500
2025 US Tariff Shock
  % Loss-25.0%-18.8%
  % Gain to Breakeven33.2%23.1%
  Time to Breakeven57 days79 days
2022 Inflation Shock & Fed Tightening
  % Loss-38.2%-24.5%
  % Gain to Breakeven61.7%32.4%
  Time to Breakeven90 days427 days
2020 COVID-19 Crash
  % Loss-41.8%-33.7%
  % Gain to Breakeven71.8%50.9%
  Time to Breakeven307 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-21.7%-19.2%
  % Gain to Breakeven27.8%23.8%
  Time to Breakeven1654 days105 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-22.7%-17.9%
  % Gain to Breakeven29.3%21.8%
  Time to Breakeven586 days123 days
2010 Eurozone Sovereign Debt Crisis / Flash Crash
  % Loss-20.8%-15.4%
  % Gain to Breakeven26.2%18.2%
  Time to Breakeven21 days125 days
2008-2009 Global Financial Crisis
  % Loss-42.4%-53.4%
  % Gain to Breakeven73.8%114.4%
  Time to Breakeven1969 days1085 days

Compare to SCI, DOV, DHR, ZBRA, HON

In The Past

Matthews International's stock fell -25.0% during the 2025 US Tariff Shock. Such a loss loss requires a 33.2% 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 Matthews International (MATW)

Matthews International Corporation provides brand solutions, memorialization products, and industrial technologies worldwide. It operates through three segments: SGK Brand Solutions, Memorialization, and Industrial Technologies. The SGK Brand solutions segment provides brand management, pre-media services, printing plates and cylinders, engineered products, imaging services, digital asset management, merchandising display systems, and marketing and design services for the consumer goods and retail industries. The Memorialization segment provides bronze and granite memorials, upright granite memorials and monuments, cremation memorialization products, granite benches, flower vases, crypt plates and letters, cremation urns, niche units, cemetery features, and statues, as well as caskets, and cremation and incineration equipment for the cemetery and funeral home industries. The Industrial Technologies segment provides marking and coding equipment and consumables, industrial automation products, and order fulfillment systems for identifying, tracking, picking, and conveying consumer and industrial products for the warehousing and industrial industries. Matthews International Corporation was founded in 1850 and is based in Pittsburgh, Pennsylvania.

AI Analysis | Feedback

Matthews International can be described as:

  1. The **Sysco for the funeral and cemetery industry.**

  2. Similar to **Zebra Technologies for industrial marking, tracking, and warehouse automation.**

  3. And like **Avery Dennison for brand identity, packaging, and in-store display solutions.**

AI Analysis | Feedback

  • Brand Management & Marketing Services: Provides brand strategy, design, pre-media, imaging, digital asset management, and merchandising display systems for consumer goods and retail.
  • Printing Plates & Cylinders: Manufactures engineered printing plates and cylinders essential for printing processes.
  • Memorials & Monuments: Offers bronze and granite memorials, upright monuments, granite benches, flower vases, crypt plates, letters, cemetery features, and statues.
  • Cremation Products & Equipment: Supplies cremation urns, niche units, cremation memorialization products, and cremation and incineration equipment.
  • Caskets: Provides caskets for traditional burial services.
  • Marking & Coding Equipment: Manufactures equipment and consumables for identifying, tracking, and marking consumer and industrial products.
  • Industrial Automation Products: Develops products that automate various industrial processes.
  • Order Fulfillment Systems: Offers integrated systems for warehousing, including identifying, tracking, picking, and conveying products.

AI Analysis | Feedback

Matthews International (MATW) primarily sells to other businesses rather than individuals. Based on the provided company description, specific names of its major customer companies are not disclosed. However, its customer base can be categorized by the industries it serves across its three segments:

  • Consumer Goods Companies: Customers for brand management, pre-media services, printing plates, and other brand solutions provided by the SGK Brand Solutions segment.
  • Retail Companies: Customers for merchandising display systems, marketing, and design services, as part of its SGK Brand Solutions segment.
  • Cemetery Companies: Customers for bronze and granite memorials, cremation memorialization products, niche units, and other cemetery features, under its Memorialization segment.
  • Funeral Home Companies: Customers for caskets, cremation, and incineration equipment, also within its Memorialization segment.
  • Warehousing Companies: Customers for marking and coding equipment, industrial automation products, and order fulfillment systems provided by the Industrial Technologies segment.
  • Industrial Companies: Customers for identifying, tracking, picking, and conveying consumer and industrial products, also falling under its Industrial Technologies segment.

AI Analysis | Feedback

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AI Analysis | Feedback

Joseph C. Bartolacci, President and Chief Executive Officer

Joseph C. Bartolacci was appointed President and Chief Executive Officer of Matthews International in 2006, having served on the Board of Directors since 2005. Prior to becoming CEO, he was President and Chief Operating Officer. His tenure at Matthews also includes various roles such as President of the Casket Division, Executive Vice President, President of Matthews Europe, President of Caggiati, S.p.A. (a Matthews subsidiary), and General Counsel. Bartolacci also serves on the board of Federated Hermes, a global investment management company.

Daniel E. Stopar, Chief Financial Officer and Treasurer

Daniel E. Stopar was appointed Chief Financial Officer and Treasurer in December 2025. He joined Matthews in 2013 and has held several executive financial roles within the company, most recently as Senior Vice President, Operations Controller and Head of Global Business Services. Before his time at Matthews, Stopar held financial leadership positions at Royal Philips Electronics and Respironics, Inc.

Steven D. Gackenbach, Group President, Matthews Memorialization

Steven D. Gackenbach has served as Group President for Matthews Memorialization since 2011. In this capacity, he is responsible for the strategic direction and global operational and commercial activities of both the Matthews' Cemetery Products Division and the Matthews Aurora Funeral Solutions Division. Before assuming this role, Gackenbach was Matthews Memorialization's Chief Commercial Officer.

Lee Lane, Group President, Matthews Industrial Automation and Matthews Environmental Solutions

Lee Lane is the newly appointed Group President for Matthews Industrial Automation and Matthews Environmental Solutions. He leads the long-term growth strategy for these divisions, overseeing global product management, operations, and commercial activities. Prior to joining Matthews, Lane spent over thirty years at Rockwell Automation, where he held various roles including Application Engineer, Marketing, Product Management, Product Security, and running a business unit.

Brian D. Walters, Executive Vice President and General Counsel, Corporate Secretary

Brian D. Walters was appointed Executive Vice President and General Counsel in 2021, and in February 2025, he also assumed the role of Corporate Secretary. He oversees and manages all legal matters for Matthews globally. Walters joined Matthews in 2005 as Corporate Counsel and has been involved in leading over 80 acquisition and divestiture initiatives for the corporation.

AI Analysis | Feedback

Here are the key risks to the business for Matthews International (MATW):

  1. High Leverage and Interest Rate Risk: Matthews International faces significant financial risk due to its elevated debt levels and substantial interest expense. As of late 2025, the company had considerable debt, and its low interest coverage ratio indicates that the cost of borrowing is negatively impacting shareholder returns. S&P Global lowered its rating on Matthews International primarily due to its elevated leverage and uncertainties around deleveraging, projecting that debt to EBITDA could remain above 5x.
  2. Weak Operating Performance and Sales Decline: The company has experienced declining revenue and profitability across its segments. Fiscal 2025 saw a significant decrease in consolidated sales, primarily due to the divestiture of the SGK business, and the Industrial Technologies segment specifically faced declining sales due to ongoing challenges. This weakness in operating results makes deleveraging more uncertain and reduces the company's ability to generate free cash flow. The divestiture of SGK also reduced the company's geographic diversification.
  3. Goodwill and Intangible Asset Impairment Risk: Matthews International carries a substantial balance of goodwill and intangible assets on its balance sheet, particularly after its divestiture of the SGK business. This significant asset balance is subject to impairment risk, which could lead to material non-cash charges and further impact the company's financial results.

AI Analysis | Feedback

Shifting societal preferences and cultural trends away from traditional physical memorialization products and practices, including the increasing adoption of direct cremation, eco-friendly burial alternatives, and digital memorialization, which reduces demand for traditional monuments, urns, caskets, and cemetery features.

AI Analysis | Feedback

Matthews International (MATW) operates in diverse markets, and the addressable market sizes for its main products and services vary by segment and region.

SGK Brand Solutions Segment

  • Digital Asset Management (DAM): The global digital asset management market was valued at approximately USD 4.9 billion in 2022 and is projected to reach USD 20.6 billion by 2032. North America was the leading region in this market in 2022 and 2026.
  • Brand Management Services/Solutions: The global brand management services market was valued at US$654 million in 2024 and is projected to reach US$974 million by 2031. Another estimate places the global brand management systems market size at approximately $3.2 billion in 2023, with a projection to reach $9.8 billion by 2032.
  • Printing Plates and Cylinders (part of pre-media services): The global printing plates market size was valued at USD 15 billion in 2024 and is expected to reach USD 21.4 billion by 2034. Another source indicated a market size of USD 15.23 billion in 2025, growing to $18.18 billion in 2030.
  • Pre-Press and Packaging Graphics Services: This global market is projected to expand from USD 4.87 billion in 2025 to USD 7.11 billion by 2030.

Memorialization Segment

  • Caskets: The global caskets market size was approximately USD 3.2 billion in 2024 and is projected to reach USD 4.1 billion by 2033. North America accounts for approximately 48% of the global caskets market. The global burial casket market size was USD 2841.5 million in 2024 and is expected to reach USD 3998.27 million by 2031.
  • Cremation Equipment (Human and Animal): The global market for human and animal cremation equipment is projected to reach approximately $2427 million (USD 2.427 billion) in 2024 and $3150 million (USD 3.15 billion) by 2029. The global cremation furnace market size was valued at USD 593.69 million in 2024 and is projected to reach USD 867.20 million by 2033. North America dominated the cremation furnace industry in 2024.
  • Memorial Products (included in Funeral Products and Services): The global funeral products and services market was valued at US$62.5 billion in 2023 and is forecasted to reach US$113 billion by 2033. North America held over 40% of the global revenue for funeral products and services in 2024.

Industrial Technologies Segment

  • Marking and Coding Equipment and Consumables: The global coding and marking equipment market size was valued at USD 18.87 billion in 2025 and is projected to grow to USD 32.06 billion by 2034. North America led this market in 2024 with a revenue share of 30.9%.
  • Industrial Automation Products: The global industrial automation market was valued at USD 256.02 billion in 2025 and is predicted to increase to approximately USD 613.25 billion by 2035. Europe dominated the industrial automation market with a market share of 32.99% in 2025.
  • Order Fulfillment Systems:
    • E-commerce Fulfillment Services: The global e-commerce fulfillment services market size was estimated at USD 123.68 billion in 2024 and is projected to reach USD 272.14 billion by 2030. Asia Pacific dominated this global market with a 29% share in 2024.
    • Order Fulfillment Software for E-commerce: This global market is projected to reach an estimated $12.5 billion by 2025.
    • Distributed Order Management Systems (DOM): The global market size for Distributed Order Management Systems is estimated to fall within the range of USD 1.0 billion and USD 3.0 billion by 2025.
    • Micro Fulfillment: The global micro fulfillment market size is expected to reach USD 37.74 billion by 2030.

AI Analysis | Feedback

Matthews International (MATW) is expected to drive future revenue growth over the next 2-3 years through several key initiatives within its core business segments, following strategic portfolio adjustments including the divestiture of certain businesses. The primary drivers are anticipated to be:

  1. Growth within the Memorialization Segment: This segment is consistently identified as a strong performer. Future revenue growth is expected from continued inflationary price realization, higher sales volumes for caskets and cemetery memorials, and the integration and synergy realization from recent acquisitions, such as The Dodge Company.
  2. Conversion of Dry Battery Electrode (DBE) Solutions Interest to Orders: Within the Industrial Technologies segment, Matthews International has reported strong interest from various customers in its dry battery electrode solutions. The company anticipates this interest will translate into firm orders and contribute to revenue growth, particularly in the second half of fiscal year 2026.
  3. Commercialization and Market Expansion of MPERIA® Axian Inkjet (XIJ) Systems: The commercialization of MPERIA® Axian Inkjet (XIJ) systems within the Industrial Technologies segment is progressing well. With strong market reception, an expanding global pipeline, and solid beta performance, these new systems are expected to be a significant contributor to future revenue as the company seeks partnerships to accelerate their adoption.
  4. Strategic Investments and Diversification into Promising New Markets within Industrial Technologies: Matthews International has strategically diversified its portfolio into new markets and made careful investments within its Industrial Technologies segment to address end markets with significant growth potential. This strategic approach aims to capitalize on emerging opportunities and enhance the segment's overall revenue trajectory.

AI Analysis | Feedback

Capital Allocation Decisions (Last 3-5 Years)

Share Repurchases

  • In July 2021, Matthews International's Board of Directors authorized the repurchase of up to an additional 2,500,000 shares of the Company's common stock.
  • For fiscal year 2025, the company reported approximately $12 million in share repurchases.

Outbound Investments

  • On May 1, 2025, Matthews contributed its SGK business to Propelis, in return for a 40% equity stake in Propelis.
  • Acquisitions, net of cash acquired, amounted to approximately $0.5 million for the period ending February 4, 2026, and approximately $2.2 million for a prior period, likely fiscal year 2025.
  • The acquisition of The Dodge Company is noted for contributing to the growth of the Memorialization segment in fiscal year 2026.

Capital Expenditures

  • Capital expenditures were approximately $5.3 million for the most recent period (likely Q1 fiscal year 2026, based on February 4, 2026 data).
  • For a prior period, capital expenditures were approximately $9.5 million.
  • The primary focus of capital expenditures is on driving operational efficiency and long-term growth through continuous innovation within its Industrial Technologies and Memorialization businesses.

Better Bets vs. Matthews International (MATW)

Latest Trefis Analyses

TitleDate
0DASHBOARDS 
1Matthews International Earnings Notes12/16/2025
2With Matthews International Stock Surging, Have You Considered The Downside?10/17/2025
3Why Matthews International Stock Moved: MATW Stock Has Lost 19% Since 2023 Fiscal End, Primarily Due To Unfavorable Change In Revenues08/08/2025
4MATW Dip Buy Analysis07/10/2025
5Matthews International Stock Shares Sink 5.1% In A Day, Now Is Not The Time To Buy The Stock05/16/2025
6Matthews International (MATW) Valuation Ratios Comparison05/15/2025
7Matthews International Total Shareholder Return (TSR): 13.1% in 2025 and 9.8% 3-yr compounded annual returns (above peer average)03/07/2025
8Matthews International (MATW) Operating Cash Flow Comparison02/17/2025
9Matthews International (MATW) Net Income Comparison02/15/2025
10Matthews International (MATW) Operating Income Comparison02/15/2025
Title
0ARTICLES

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Peer Comparisons

Peers to compare with:

Financials

MATWSCIDOVDHRZBRAHONMedian
NameMatthews.Service .Dover Danaher Zebra Te.Honeywel. 
Mkt Price26.4576.73207.77173.33242.26223.80190.55
Mkt Cap0.810.728.0122.711.9142.020.0
Rev LTM1,2124,3328,28024,7785,58336,7636,932
Op Inc LTM-69701,3834,7608266,3191,176
FCF LTM-995561,1365,291836-836
FCF 3Y Avg-315729285,247650-650
CFO LTM-729651,3686,439915-965
CFO 3Y Avg89571,1236,548726-957

Growth & Margins

MATWSCIDOVDHRZBRAHONMedian
NameMatthews.Service .Dover Danaher Zebra Te.Honeywel. 
Rev Chg LTM-28.9%2.8%7.1%4.0%9.2%6.4%5.2%
Rev Chg 3Y Avg-11.4%2.5%1.8%-0.1%0.8%0.9%0.8%
Rev Chg Q-39.5%2.1%10.1%3.7%14.3%2.4%3.1%
QoQ Delta Rev Chg LTM-12.2%0.5%2.3%0.9%3.5%0.6%0.7%
Op Inc Chg LTM50.8%0.4%10.8%-1.3%4.2%-3.4%2.3%
Op Inc Chg 3Y Avg-11.9%5.5%2.4%-10.7%3.7%-2.5%-0.0%
Op Mgn LTM-0.5%22.4%16.7%19.2%14.8%17.2%16.9%
Op Mgn 3Y Avg1.0%22.6%16.1%20.2%14.1%18.3%17.2%
QoQ Delta Op Mgn LTM-0.6%-0.2%-0.3%0.1%-0.0%-0.1%-0.2%
CFO/Rev LTM-6.0%22.3%16.5%26.0%16.4%-16.5%
CFO/Rev 3Y Avg-0.2%22.7%14.0%27.2%13.9%-14.0%
FCF/Rev LTM-8.2%12.8%13.7%21.4%15.0%-13.7%
FCF/Rev 3Y Avg-2.7%13.6%11.6%21.8%12.4%-12.4%

Valuation

MATWSCIDOVDHRZBRAHONMedian
NameMatthews.Service .Dover Danaher Zebra Te.Honeywel. 
Mkt Cap0.810.728.0122.711.9142.020.0
P/S0.72.53.45.02.13.92.9
P/Op Inc-133.811.020.325.814.422.517.3
P/EBIT5.710.918.826.717.424.118.1
P/E85.819.925.533.328.434.630.8
P/CFO-11.511.020.519.113.0-13.0
Total Yield5.2%5.0%4.9%3.0%3.5%4.5%4.7%
Dividend Yield4.0%0.0%1.0%0.0%0.0%1.6%0.5%
FCF Yield 3Y Avg-4.0%5.1%3.6%3.4%5.3%-3.6%
D/E0.80.50.10.20.20.30.2
Net D/E0.70.50.10.10.20.20.2

Returns

MATWSCIDOVDHRZBRAHONMedian
NameMatthews.Service .Dover Danaher Zebra Te.Honeywel. 
1M Rtn-1.7%-8.3%-5.7%-10.9%2.4%1.3%-3.7%
3M Rtn1.2%-4.5%-10.4%-17.8%-3.8%-6.1%-5.3%
6M Rtn10.5%-1.4%17.3%-21.7%6.1%20.2%8.3%
12M Rtn36.4%0.7%17.4%-6.6%-15.9%9.3%5.0%
3Y Rtn-25.1%24.3%53.6%-14.3%-13.5%28.6%5.4%
1M Excs Rtn-9.2%-13.6%-8.2%-10.1%0.5%-2.0%-8.7%
3M Excs Rtn-6.6%-10.5%-18.5%-24.8%-12.9%-15.1%-14.0%
6M Excs Rtn-1.6%-15.3%3.6%-35.4%-7.6%5.6%-4.6%
12M Excs Rtn7.6%-24.9%-11.4%-37.1%-43.8%-17.6%-21.2%
3Y Excs Rtn-102.6%-57.1%-24.6%-93.0%-90.2%-49.0%-73.7%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Memorialization830843840769656
Brand Solutions533532587618693
Industrial Technologies433506336284149
Corporate and Non-Operating 00  
Total1,7961,8811,7621,6711,498


Assets by Segment
$ Mil20252024202320222021
Memorialization790794801807780
Brand Solutions5325736318741,014
Industrial Technologies461482414286193
Corporate and Non-Operating 38376586
Total1,7831,8871,8832,0322,073


Price Behavior

Price Behavior
Market Price$26.45 
Market Cap ($ Bil)0.8 
First Trading Date08/10/1994 
Distance from 52W High-6.7% 
   50 Days200 Days
DMA Price$26.43$25.07
DMA Trendupup
Distance from DMA0.1%5.5%
 3M1YR
Volatility26.8%34.4%
Downside Capture113.40114.42
Upside Capture83.03116.84
Correlation (SPY)51.9%36.4%
MATW Betas & Captures as of 4/30/2026

 1M2M3M6M1Y3Y
Beta0.660.910.910.741.021.00
Up Beta0.660.730.740.901.100.86
Down Beta2.671.041.000.670.710.98
Up Capture84%104%111%93%118%82%
Bmk +ve Days15223166141428
Stock +ve Days14223367130362
Down Capture-3%88%80%51%105%106%
Bmk -ve Days4183056108321
Stock -ve Days8213158121386

[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 MATW
MATW33.1%34.5%0.88-
Sector ETF (XLY)10.8%18.3%0.4239.0%
Equity (SPY)26.8%12.1%1.6736.1%
Gold (GLD)37.5%26.8%1.160.7%
Commodities (DBC)43.5%18.6%1.80-19.5%
Real Estate (VNQ)12.0%13.4%0.5930.7%
Bitcoin (BTCUSD)-27.2%41.8%-0.6516.4%

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Based On 5-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with MATW
MATW-5.5%36.2%-0.08-
Sector ETF (XLY)7.7%23.7%0.2840.0%
Equity (SPY)13.8%17.0%0.6442.3%
Gold (GLD)19.3%18.0%0.872.4%
Commodities (DBC)10.8%19.4%0.445.2%
Real Estate (VNQ)3.8%18.8%0.1042.2%
Bitcoin (BTCUSD)9.3%55.6%0.3714.6%

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 MATW
MATW-4.2%36.9%-0.01-
Sector ETF (XLY)12.8%22.0%0.5346.0%
Equity (SPY)15.5%17.9%0.7449.8%
Gold (GLD)13.2%16.0%0.681.5%
Commodities (DBC)7.8%17.9%0.3514.8%
Real Estate (VNQ)5.4%20.7%0.2246.4%
Bitcoin (BTCUSD)67.3%66.9%1.0613.4%

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Short Interest

Short Interest: As Of Date4302026
Short Interest: Shares Quantity2.8 Mil
Short Interest: % Change Since 415202617.6%
Average Daily Volume0.2 Mil
Days-to-Cover Short Interest17.1 days
Basic Shares Quantity31.5 Mil
Short % of Basic Shares8.7%

Returns Analyses

Earnings Returns History

Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/1/20260.2%-3.1% 
2/4/2026-0.4%0.9%-1.7%
11/13/2025-1.5%-3.8%6.5%
8/6/20254.4%1.0%4.5%
5/1/2025-3.1%-6.6%6.2%
2/7/2025-9.9%-14.5%-19.0%
11/22/202421.0%18.3%8.3%
8/2/2024-5.0%-6.9%-8.9%
...
SUMMARY STATS   
# Positive121014
# Negative131510
Median Positive4.3%4.5%6.1%
Median Negative-3.6%-5.3%-8.6%
Max Positive21.0%18.3%18.2%
Max Negative-9.9%-14.5%-19.0%

SEC Filings

Expand for More
Report DateFiling DateFiling
03/31/202605/01/202610-Q
12/31/202502/04/202610-Q
09/30/202511/21/202510-K
06/30/202508/06/202510-Q
03/31/202504/30/202510-Q
12/31/202402/07/202510-Q
09/30/202411/22/202410-K
06/30/202408/02/202410-Q
03/31/202405/03/202410-Q
12/31/202302/02/202410-Q
09/30/202311/17/202310-K
06/30/202307/28/202310-Q
03/31/202304/28/202310-Q
12/31/202201/27/202310-Q
09/30/202211/18/202210-K
06/30/202207/29/202210-Q

Recent Forward Guidance [BETA]

Latest: Q2 2026 Earnings Reported 5/1/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Adjusted EBITDA 180.00 Mil 0 AffirmedGuidance: 180.00 Mil for 2026

Prior: Q1 2026 Earnings Reported 2/4/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Adjusted EBITDA 180.00 Mil 0 AffirmedGuidance: 180.00 Mil for 2026

Insider Activity

Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value		Value of
Held Shares		Form
1Nauman, J Michael DirectBuy509202519.22713597,657Form
2Nauman, J Michael DirectBuy509202519.101,07420,51396,913Form

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