MATTHEWS INTERNATIONAL CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data MATTHEWS INTERNATIONAL CORP files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	1,480	1,516	1,603	1,537	1,498	1,671	1,762	1,881	1,796	1,498
Cost of revenue	924	948	1,018	995	1,001	1,129	1,240	1,303	1,266	990
Gross profit	556	568	584	542	498	542	522	578	530	508
Research and development	16.4	20.7	25	15	13.4	13.2	15.5	15.6	16	16.7
General and administrative	276	280	273	275	275	285	298	307	346	349
Operating income	119	121	139	10.3	-64.2	42	-43.9	88.1	-12.3	75.5
Interest expense	24.3	26.4	37.4	41	34.9	28.7	27.7	44.6	50.5	62.9
Other non-operating income	-1.3	-1.19	-4.71	-8.92	-9.22	-4.12	-32.6	-2.56	-6.8	3.65
Pre-tax income	95.2	96.3	98	-38.1	-106	9.23	-104	40.9	-69.7	16.2
Income tax	29.1	22.4	-9.12	0.81	-18.7	6.38	-4.39	1.77	-10	40.7
Net income to minority interests	-0.59	-0.44	-0.26	-0.9	-0.5	-0.05	-0.05	-0.16	0	0
Net income	66.7	74.4	107	-38	-87.2	2.91	-99.8	39.3	-59.7	-24.5
EBITDA	184	189	216	101	54.9	176	60.1	185	82.4	147
EPS, basic	2.04	2.31	3.39	-1.21	-2.79	0.09	-3.18	1.28	-1.93	-0.79
EPS, diluted	2.03	2.28	3.37	-1.21	-2.79	0.09	-3.18	1.26	-1.93	-0.79
Shares, basic (weighted)	32.6	32.2	31.7	31.4	31.2	31.7	31.4	30.8	30.9	31.1
Shares, diluted (weighted)	32.9	32.6	31.9	31.4	31.2	32	31.4	31.3	30.9	31.1
Dividend per share						0.86	0.88	0.92	0.96	1.00

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	55.7	57.5	41.6	35.3	41.3	49.2	69	42.1	40.8	32.4
Receivables	295	320	331	319	295	310	221	208	206	133
Inventory	162	171	180	180	175	189	225	260	238	203
Other current assets	61.1	46.5	61.6	49.4	64	76.1	62.5	63.6	54.9	44.8
Total current assets	574	595	615	584	576	624	629	648	633	520
Property, plant and equipment	219	236	253	237	237	224	256	270	279	225
Lease right-of-use assets					72	80.3	72	71.6	60.5	51.6
Goodwill	851	898	949	847	765	774	675	698	697	488
Intangible assets	394	424	444	401	333	262	202	160	126	106
Long-term investments	31.4	37.7	45.4	85.5	63.3	30.4	26	25	23.1	289
Other non-current assets	19.9	51.8	49.8	31.5	22.4	15.5	19	11.3	9.58	9.5
Total assets	2,091	2,245	2,358	2,191	2,073	2,032	1,883	1,887	1,835	1,694
Accounts payable	58.1	66.6	70	74.6	82.9	113	121	114	108	98.5
Accrued liabilities	63.7	62.2	51.5	42.5	58.1	68.9	58.3	58.9	88.8	36.4
Short-term debt	27.7	29.5	31.3	42.5	26.8	4.62	3.28	3.7	6.85	7.23
Total current liabilities	259	285	286	280	317	354	411	395	435	350
Long-term debt	845	882	929	898	808	759	795	786	770	704
Lease liabilities					49.3	57.3	51.4	50.2	40.1	36.1
Other non-current liabilities	37.4	25.7	52	37.1	40	24.9	45	59.6	108	67.4
Total liabilities	1,382	1,454	1,489	1,471	1,461	1,396	1,396	1,362	1,398	1,214
Total debt	873	911	961	941	825	755	792	781	754	688
Paid-in capital	117	123	129	138	135	149	160	168	159	155
Retained earnings	896	949	1,040	973	859	834	707	715	623	565
Treasury stock	-159	-165	-173	-200	-179	-191	-226	-219	-213	-197
Other comprehensive income	-182	-154	-164	-228	-241	-193	-190	-174	-169	-78
Shareholders' equity	709	790	868	718	611	637	487	526	437	481
Minority interests	0.67	0.55	0.36	1.13	0.63	-0.15	-0.28	-0.39	0.05	0
Total equity	709	790	869	719	611	636	487	525	437	481
Total liabilities and equity	2,091	2,245	2,358	2,191	2,073	2,032	1,883	1,887	1,835	1,694

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	66.2	73.9	107	-38.9	-87.7	2.86	-99.8	39.1	-59.7	-24.5
Depreciation and amortization	65.5	68	77	90.8	119	134	104	96.5	94.8	71.7
Stock-based compensation	10.6	14.6	13.5	7.73	8.1	15.6	17.4	17.3	18.5	23.1
Deferred income tax	-3.97	9.73	-23.1	-6.78	-16.6	4.16	-33	-21.6	-25.2	23.1
Change in receivables	-10.6	-7.05	-0.79	8.78	24.1	-13.4	74	26.5	5.62	6.01
Change in inventory	10.5	-2.29	-2.87	0.83	5.98	-12.8	-23.5	-24	27	11.7
Cash from operations	140	149	148	131	180	163	127	79.5	79.3	-23.6
Capital expenditures	-41.7	-44.9	-43.2	-37.7	-34.8	-34.3	-61.3	-50.6	-45.2	-35.8
Acquisitions	-6.94	-98.2	-121	-11.5	-1	-15.6	-44.5	-15.3	-5.83	-55.8
Cash from investing	-47.1	-142	-162	-60.8	-2.72	-13	-80.9	-58.7	-47	160
Debt issued	90.4	417	704	504	1,155	626	778	866	1,245	1,361
Debt repaid	-120	-388	-651	-520	-1,281	-702	-742	-884	-1,276	-1,428
Stock issued	6.41	0.01	0	0
Share buybacks	-58	-14	-21.2	-26.1	-4.43	-11.9	-41.7	-2.86	-20.6	-12.2
Dividends paid	-19.4	-21.8	-24.6	-25.6	-26.4	-27.7	-27.7	-28.2	-31.4	-32.8
Cash from financing	-109	-7.18	0.9	-75	-172	-123	-37.2	-50.2	-35	-144
Exchange rate effect	-0.77	1.3	-2.08	-1.55	0.56	0.04	-5.72	0.08	1.44	-0.15
Net change in cash	-16.5	1.8	-15.9	-6.27	6.03	27	3.07	-29.3	-1.29	-8.38
Free cash flow	98.6	104	104	93.4	146	128	65.5	28.9	34.1	-59.4
Interest paid	24.1	26.3	37.2	41.5	35.3	28.8	27.4	43.5	50.3	51.1
Income taxes paid	11.9	8.47	11	15.5	20.7	9.17	13.6	18	19.2	16.8

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $18.95 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	36.6%	Gross profit / revenue.
Operating margin	6.3%	Operating income / revenue.
EBITDA margin	10.9%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	0.7%	Pre-tax income / revenue.
Net margin	-2.6%	Net income / revenue.
FCF margin	-7.4%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	-5.3%	Cash from operations / revenue.
Effective tax rate	489.3%	Income tax / pre-tax income, when pre-tax income is positive.
Return on assets (ROA)	-2.0%	Net income / average total assets.
Stock-based pay / revenue	1.6%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	2.1%	Capital expenditures / revenue.
D&A / revenue	4.6%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-16.6%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-5.3%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	-0.0%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-4.2%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-0.9%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	0.4%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	78.5%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	34.8%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	21.8%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-129.7%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow growth, 1y	-274.3%	Free cash flow vs the same period a year earlier. Only from a positive base.
Dividend per share growth, 1y	4.2%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	4.4%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y	10.0%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-0.4%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-4.7%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-7.7%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-3.5%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-3.9%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	0.6%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-0.3%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-0.1%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.76x	Current assets / current liabilities.
Quick ratio	0.52x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.14x	(Cash + short-term investments) / current liabilities.
Debt / assets	37.7%	Total debt / total assets.
Liabilities / assets	67.7%	Total liabilities / total assets.
Net debt	$529.7M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	4.38x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	1.38x	Operating income / interest expense.
Working capital	$208.6M	Current assets - current liabilities.
Goodwill and intangibles / assets	35.1%	(Goodwill + intangible assets) / total assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.74x	Revenue / average total assets.
Fixed asset turnover	6.29x	Revenue / average property, plant and equipment.
Inventory turnover	3.45x	Cost of revenue / average inventory.
Days inventory	106 days	365 x average inventory / cost of revenue.
Receivables turnover	10.5x	Revenue / average receivables.
Days sales outstanding	35 days	365 x average receivables / revenue.
Days payables	48 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	93 days	Days inventory + days sales outstanding - days payables.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.93	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$35.25	Revenue / diluted weighted shares.
FCF per share	-$2.61	Free cash flow / diluted weighted shares.
Operating cash flow per share	-$1.88	Cash from operations / diluted weighted shares.
Cash per share	$1.20	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$591.5M	Share price x shares outstanding.
Enterprise value	$1.12B	Market cap + total debt - cash - short-term investments.
P/S	0.53x	Market cap / revenue.
EV/Sales	1.01x	Enterprise value / revenue.
EV/EBIT	16.1x	Enterprise value / operating income, when both are positive.
EV/EBITDA	9.28x	Enterprise value / EBITDA, when both are positive.
FCF yield	-13.9%	Free cash flow / market cap.
Earnings yield	-5.0%	Net income / market cap (the inverse of P/E).
Dividend yield	5.7%	Dividends paid over the period / market cap.
Shareholder yield	6.7%	(Dividends paid + share buybacks) / market cap.

What was MATTHEWS INTERNATIONAL CORP's revenue in fiscal 2025?

MATTHEWS INTERNATIONAL CORP reported revenue of $1.50B for fiscal 2025, 16.6% lower than the year before.

Was MATTHEWS INTERNATIONAL CORP profitable in fiscal 2025?

No. It reported a net loss of $24.5M.

How much free cash flow did MATTHEWS INTERNATIONAL CORP generate in fiscal 2025?

Cash from operations of $23.6M minus capital expenditures of $35.8M left free cash flow of -$59.4M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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