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Matthews International Corporation provides brand solutions, memorialization products, and industrial technologies worldwide. It operates through three segments: Memorialization, Industrial Technologies, and Brand Solutions. The Memorialization segment provides bronze and granite memorials, upright granite memorials and monuments, concrete burial vaults, cremation memorialization products, granite benches, flower vases, crypt plates and letters, cremation urns, niche units, cemetery features, and statues, as well as bronze plaques, letters, emblems, vases, lights and photo ceramics, granite monuments, mausoleums, crypts, and flush memorials. The Industrial Technologies segment designs, manufactures, services, and distributes high-tech custom energy storage solutions, and product identification and warehouse automation technologies and solutions, including order fulfillment systems for identifying, tracking, picking, and conveying consumer and industrial products. This segment also provides engineered calendaring, laminating, and coating equipment; stand-alone marking products; laser and ink-jet printing systems; and spare parts, calendar, and coating-roller refurbishing and retrofits. The Brand solutions segment provides brand management, pre-media services, printing plates and cylinders, imaging services, digital asset management, merchandising display systems, and marketing and design services for the consumer goods and retail industries. The company was founded in 1850 and is based in Pittsburgh, Pennsylvania.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.5B | $151M | $-24M | $-59M | -5.1% | -16.6% | -59.0% |
| 2024 | $1.8B | $76M | $-60M | $34M | -13.6% | -4.5% | -251.8% |
| 2023 | $1.9B | $182M | $39M | $29M | 7.5% | 6.7% | -139.4% |
| 2022 | $1.8B | $28M | $-100M | $66M | -20.5% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 1,762.40 | 1,880.90 | 1,795.74 | 1,497.69 |
| Operating Revenue | - | 1,762.40 | 1,880.90 | 1,795.74 | 1,497.69 |
| Cost Of Revenue | - | 1,240.12 | 1,303.22 | 1,266.03 | 990.10 |
| Gross Profit | - | 522.28 | 577.67 | 529.71 | 507.59 |
| Operating Expense | - | 483.76 | 489.56 | 525.30 | 487.28 |
| Selling General And Administration | - | 426.68 | 447.49 | 488.28 | 467.21 |
| Total Expenses | - | 1,723.89 | 1,792.78 | 1,791.33 | 1,477.38 |
| Operating Income | - | 38.52 | 88.12 | 4.40 | 20.31 |
| Total Operating Income As Reported | - | -43.94 | 88.12 | -12.32 | 75.45 |
| EBITDA | - | 27.56 | 182.09 | 75.65 | 150.85 |
| Normalized EBITDA | - | 110.02 | 182.09 | 92.37 | 95.71 |
| EBIT | - | -76.49 | 85.56 | -19.12 | 79.10 |
| Interest Expense | - | 27.72 | 44.65 | 50.53 | 62.90 |
| Net Interest Income | - | -27.72 | -44.65 | -50.53 | -62.90 |
| Other Non Operating Income Expenses | - | -32.56 | -2.56 | -6.80 | 3.65 |
| Other Income Expense | - | -115.01 | -2.56 | -23.53 | 58.79 |
| Interest Expense Non Operating | - | 27.72 | 44.65 | 50.53 | 62.90 |
| Net Non Operating Interest Income Expense | - | -27.72 | -44.65 | -50.53 | -62.90 |
| Pretax Income | - | -104.22 | 40.91 | -69.66 | 16.21 |
| Tax Provision | - | -4.39 | 1.77 | -10 | 40.68 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -3.46 | 0 | -2.41 | 11.58 |
| Net Income Continuous Operations | - | -99.83 | 39.14 | -59.66 | -24.47 |
| Net Income From Continuing And Discontinued Operation | - | -99.77 | 39.29 | -59.66 | -24.47 |
| Net Income From Continuing Operation Net Minority Interest | - | -99.77 | 39.29 | -59.66 | -24.47 |
| Net Income | - | -99.77 | 39.29 | -59.66 | -24.47 |
| Net Income Common Stockholders | - | -99.77 | 39.29 | -59.66 | -24.47 |
| Net Income Including Noncontrolling Interests | - | -99.83 | 39.14 | -59.66 | -24.47 |
| Normalized Income | - | -20.78 | 39.29 | -45.34 | -68.03 |
| Diluted NI Availto Com Stockholders | - | -99.77 | 39.29 | -59.66 | -24.47 |
| Basic Average Shares | - | 30.30 | 30.47 | 30.60 | 30.80 |
| Diluted Average Shares | - | 31.37 | 31.29 | 30.91 | 31.10 |
| Reconciled Depreciation | - | 104.06 | 96.53 | 94.77 | 71.75 |
| Reconciled Cost Of Revenue | - | 1,193.15 | 1,248.76 | 1,208.28 | 938.42 |
| Total Unusual Items | - | -82.45 | 0 | -16.73 | 55.14 |
| Total Unusual Items Excluding Goodwill | - | -82.45 | 0 | -16.73 | 55.14 |
| Minority Interests | - | 0.05 | 0.16 | 0 | 0 |
| Special Income Charges | - | -82.45 | 0 | -16.73 | 55.14 |
| Gain On Sale Of Business | - | - | 0 | 0 | 55.14 |
| Impairment Of Capital Assets | - | 82.45 | 0 | 16.73 | 0 |
| Gain On Sale Of Security | 2.64 | 1.04 | - | - | - |
| Depreciation Amortization Depletion Income Statement | - | 57.08 | 42.07 | 37.02 | 20.07 |
| Depreciation And Amortization In Income Statement | - | 57.08 | 42.07 | 37.02 | 20.07 |
| General And Administrative Expense | - | 298.32 | 307.37 | 346.40 | 349.28 |
| Other Gand A | - | 298.32 | 307.37 | 346.40 | 349.28 |
| Selling And Marketing Expense | - | 128.36 | 140.12 | 141.88 | 117.93 |
| Amortization | - | 57.08 | 42.07 | 37.02 | 20.07 |
| Amortization Of Intangibles Income Statement | - | 57.08 | 42.07 | 37.02 | 20.07 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Matthews International Corporationthis co. | MATW | $796M | -32.53 | 1.66 | -5.1% | 10.13 |
| Mayville Engineering Company, Inc. | MEC | $833M | -102.73 | 3.46 | -3.4% | 28.48 |
| Quanex Building Products Corporation | NX | $818M | -3.26 | 1.13 | -34.5% | -19.15 |
| Cryoport, Inc. | CYRX | $815M | 10.40 | 1.77 | 17.0% | -378.98 |
| Compass Diversified |
| 2021 | - | - | - | - | - | - | - |
| CODI |
| $803M |
| -3.55 |
| -22.42 |
| 632.3% |
| 164.90 |
| Montrose Environmental Group, Inc. | MEG | $801M | -949.94 | 1.77 | -0.2% | 14.06 |
| Barrett Business Services, Inc. | BBSI | $798M | 14.66 | 3.31 | 22.6% | 8.34 |
| Apogee Enterprises, Inc. | APOG | $798M | 14.74 | 1.56 | 10.6% | 7.39 |
| Spire Global, Inc. | SPIR | $776M | 15.12 | 6.87 | 45.4% | 9.09 |
| Peer Median | - | 3.57 | 1.77 | 13.8% | 8.71 | |