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DCF valuation

What is Mativ Holdings, Inc. worth?

With the base-case assumptions below, a discounted cash flow model on Mativ Holdings, Inc.'s reported free cash flow gives $33.83 per share. The share price was $12.07 on November 10, 2026, 64% below that value.

Inputs from the filings

Free cash flow, fiscal 2025
$93.8M
Average free cash flow, last 5 years
$73.9M
Cash
$97.3M
balance sheet of September 30, 2026
Debt
$1.01B
balance sheet of September 30, 2026
Diluted shares, fiscal 2025
54,607,100
Revenue growth per year, last 5 years
13.1%

Three sets of assumptions

CaseGrowth yrs 1-5Growth yrs 6-10After year 10Discount rateValue per shareValue vs price
Bear8.0%5.0%2.0%10.0%$14.06+16%
Base13.0%8.0%2.5%9.0%$33.83+180%
Bull18.0%10.5%3.0%8.0%$70.66+485%

Sensitivity: base case value per share

Discount rate down the side, growth after year 10 across the top. Everything else as in the base case.

1.5%2.0%2.5%3.0%3.5%
7.0%$48.64$53.24$58.86$65.88$74.92
8.0%$37.53$40.51$44.03$48.26$53.43
9.0%$29.44$31.47$33.83$36.57$39.82
10.0%$23.29$24.74$26.39$28.27$30.43
11.0%$18.48$19.55$20.74$22.07$23.59

Where the presets come from

Base: years 1 to 5 grow at Mativ Holdings, Inc.'s revenue growth rate over the last 5 fiscal years (13.1% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.

Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.

Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.

This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.

Adjust the assumptions

Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.

Adjust the assumptions

Mativ Holdings, Inc. company page