Comprehensive Stock Comparison
Compare Materialise N.V. (MTLS) vs Salesforce, Inc. (CRM) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | CRM | 9.6% revenue growth vs MTLS's 4.2% |
| Value | CRM | Lower P/E (16.5x vs 40.0x) |
| Quality / Margins | CRM | 18.0% net margin vs MTLS's 1.7% |
| Stability / Safety | MTLS | Beta 1.04 vs CRM's 1.04 |
| Dividends | CRM | 0.9% yield; 2-year raise streak; MTLS pays no meaningful dividend |
| Momentum (1Y) | MTLS | -1.5% vs CRM's -34.0% |
| Efficiency (ROA) | CRM | 6.6% ROA vs MTLS's 1.1%, ROIC 10.9% vs 3.9% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Valuation efficiency (growth/$)
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Materialise is a 3D printing software and services company that enables industrial additive manufacturing and medical applications. It generates revenue through three main segments: software licensing and maintenance (~40% of revenue), medical solutions including surgical planning and implants (~35%), and manufacturing services for industrial 3D printing (~25%). The company's competitive advantage lies in its deep expertise in medical-grade 3D printing and its proprietary software platforms that have become industry standards across both medical and industrial applications.
Salesforce is a cloud-based customer relationship management (CRM) software company that helps businesses manage sales, service, marketing, and commerce operations. It generates revenue primarily through subscription fees for its SaaS platform—with sales cloud (~30%), service cloud (~25%), and platform/other (~45%) being its main segments. Its competitive moat lies in its massive ecosystem of integrated applications, enterprise data architecture, and high switching costs for customers deeply embedded in its platform.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Segment breakdown not available.
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
CRM leads in 3 of 6 categories (Financial Metrics, Profitability & Efficiency). MTLS leads in 2 (Valuation Metrics, Risk & Volatility).
Financial Metrics (TTM)
CRM is the larger business by revenue, generating $41.5B annually — 151.2x MTLS's $275M. CRM is the more profitable business, keeping 18.0% of every revenue dollar as net income compared to MTLS's 1.7%.
| Metric | MTLSMaterialise N.V. | CRMSalesforce, Inc. |
|---|---|---|
| RevenueTrailing 12 months | $275M | $41.5B |
| EBITDAEarnings before interest/tax | $27M | $11.4B |
| Net IncomeAfter-tax profit | $5M | $7.5B |
| Free Cash FlowCash after capex | $7M | $14.4B |
| Gross MarginGross profit ÷ Revenue | +56.5% | +77.7% |
| Operating MarginEBIT ÷ Revenue | +1.8% | +21.5% |
| Net MarginNet income ÷ Revenue | +1.7% | +18.0% |
| FCF MarginFCF ÷ Revenue | +2.4% | +34.7% |
| Rev. Growth (YoY)Latest quarter vs prior year | +13.3% | +12.1% |
| EPS Growth (YoY)Latest quarter vs prior year | -28.9% | +18.3% |
Valuation Metrics
At 19.1x trailing earnings, MTLS trades at a 24% valuation discount to CRM's 25.0x P/E. Adjusting for growth (PEG ratio), MTLS offers better value at 0.37x vs CRM's 2.04x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | MTLSMaterialise N.V. | CRMSalesforce, Inc. |
|---|---|---|
| Market CapShares × price | $305M | $187.4B |
| Enterprise ValueMkt cap + debt − cash | $233M | $186.8B |
| Trailing P/EPrice ÷ TTM EPS | 19.09x | 24.97x |
| Forward P/EPrice ÷ next-FY EPS est. | 40.00x | 16.54x |
| PEG RatioP/E ÷ EPS growth rate | 0.37x | 2.04x |
| EV / EBITDAEnterprise value multiple | 6.33x | 20.95x |
| Price / SalesMarket cap ÷ Revenue | 0.97x | 4.51x |
| Price / BookPrice ÷ Book value/share | 1.04x | 3.15x |
| Price / FCFMarket cap ÷ FCF | 50.98x | 13.01x |
Profitability & Efficiency
CRM delivers a 12.6% return on equity — every $100 of shareholder capital generates $13 in annual profit, vs $2 for MTLS. CRM carries lower financial leverage with a 0.11x debt-to-equity ratio, signaling a more conservative balance sheet compared to MTLS's 0.17x. On the Piotroski fundamental quality scale (0–9), CRM scores 8/9 vs MTLS's 6/9, reflecting strong financial health.
| Metric | MTLSMaterialise N.V. | CRMSalesforce, Inc. |
|---|---|---|
| ROE (TTM)Return on equity | +1.9% | +12.6% |
| ROA (TTM)Return on assets | +1.1% | +6.6% |
| ROICReturn on invested capital | +3.9% | +10.9% |
| ROCEReturn on capital employed | +3.2% | +11.9% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 8 |
| Debt / EquityFinancial leverage | 0.17x | 0.11x |
| Net DebtTotal debt minus cash | -$61M | -$590M |
| Cash & Equiv.Liquid assets | $102M | $7.3B |
| Total DebtShort + long-term debt | $41M | $6.7B |
| Interest CoverageEBIT ÷ Interest expense | 1.70x | 44.14x |
Total Returns (with DRIP)
A $10,000 investment in CRM five years ago would be worth $9,104 today (with dividends reinvested), compared to $1,137 for MTLS. Over the past 12 months, MTLS leads with a -1.5% total return vs CRM's -34.0%. The 3-year compound annual growth rate (CAGR) favors CRM at 6.6% vs MTLS's -15.5% — a key indicator of consistent wealth creation.
| Metric | MTLSMaterialise N.V. | CRMSalesforce, Inc. |
|---|---|---|
| YTD ReturnYear-to-date | -5.0% | -23.2% |
| 1-Year ReturnPast 12 months | -1.5% | -34.0% |
| 3-Year ReturnCumulative with dividends | -39.8% | +21.1% |
| 5-Year ReturnCumulative with dividends | -88.6% | -9.0% |
| 10-Year ReturnCumulative with dividends | -16.2% | +192.3% |
| CAGR (3Y)Annualised 3-year return | -15.5% | +6.6% |
Risk & Volatility
MTLS is the less volatile stock with a 1.04 beta — it tends to amplify market swings less than CRM's 1.04 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. MTLS currently trades 76.2% from its 52-week high vs CRM's 64.3% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | MTLSMaterialise N.V. | CRMSalesforce, Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.04x | 1.04x |
| 52-Week HighHighest price in past year | $6.80 | $303.07 |
| 52-Week LowLowest price in past year | $3.93 | $174.57 |
| % of 52W HighCurrent price vs 52-week peak | +76.2% | +64.3% |
| RSI (14)Momentum oscillator 0–100 | 45.7 | 47.5 |
| Avg Volume (50D)Average daily shares traded | 117K | 8.6M |
Analyst Outlook
Wall Street rates MTLS as "Buy" and CRM as "Buy". Consensus price targets imply 93.1% upside for MTLS (target: $10) vs 53.5% for CRM (target: $299). CRM is the only dividend payer here at 0.85% yield — a key consideration for income-focused portfolios.
| Metric | MTLSMaterialise N.V. | CRMSalesforce, Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $10.00 | $299.00 |
| # AnalystsCovering analysts | 12 | 97 |
| Dividend YieldAnnual dividend ÷ price | — | +0.9% |
| Dividend StreakConsecutive years of raises | — | 2 |
| Dividend / ShareAnnual DPS | — | $1.66 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +6.7% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Feb 20 | Feb 26 | Change |
|---|---|---|---|
| Materialise N.V. (MTLS) | 100 | 33.62 | -66.4% |
| Salesforce, Inc. (CRM) | 100 | 123.71 | +23.7% |
Salesforce, Inc. (CRM) returned -9% over 5 years vs Materialise N.V. (MTLS)'s -89%.
Chart 2Revenue Growth — 10 Years
| Stock | 2017 | 2026 | Change |
|---|---|---|---|
| Materialise N.V. (MTLS) | $143M | $267M | +87.1% |
| Salesforce, Inc. (CRM) | $8.4B | $41.5B | +394.8% |
Salesforce, Inc.'s revenue grew from $8.4B (2017) to $41.5B (2026) — a 19.4% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2017 | 2026 | Change |
|---|---|---|---|
| Materialise N.V. (MTLS) | -1.2% | 5.0% | +533.6% |
| Salesforce, Inc. (CRM) | 3.8% | 18.0% | +366.6% |
Salesforce, Inc.'s net margin went from 4% (2017) to 18% (2026).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2026 | Change |
|---|---|---|---|
| Materialise N.V. (MTLS) | 335.5 | 30.6 | -90.9% |
| Salesforce, Inc. (CRM) | 393.2 | 25 | -93.6% |
Materialise N.V. has traded in a 31x–336x P/E range over 4 years; current trailing P/E is ~19x. Salesforce, Inc. has traded in a 25x–393x P/E range over 7 years; current trailing P/E is ~25x.
Chart 5EPS Growth — 10 Years
| Stock | 2017 | 2026 | Change |
|---|---|---|---|
| Materialise N.V. (MTLS) | -0.04 | 0.23 | +757.1% |
| Salesforce, Inc. (CRM) | 0.26 | 7.8 | +2900.0% |
Salesforce, Inc.'s EPS grew from $0.26 (2017) to $7.80 (2026) — a 46% CAGR.
Chart 6Free Cash Flow — 5 Years
Materialise N.V. generated $5M FCF in 2024 (-64% vs 2021). Salesforce, Inc. generated $14B FCF in 2026 (+252% vs 2021).
MTLS vs CRM: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is MTLS or CRM a better buy right now?
Materialise N.V. (MTLS) offers the better valuation at 19.1x trailing P/E (40.0x forward), making it the more compelling value choice. Analysts rate Materialise N.V. (MTLS) a "Buy" — based on 12 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — MTLS or CRM?
On trailing P/E, Materialise N.V. (MTLS) is the cheapest at 19.1x versus Salesforce, Inc. at 25.0x. On forward P/E, Salesforce, Inc. is actually cheaper at 16.5x — notably different from the trailing picture, reflecting expected earnings growth. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Materialise N.V. wins at 0.78x versus Salesforce, Inc.'s 1.35x — a PEG below 1.0 traditionally signals the market is underpricing earnings growth.
03Which is the better long-term investment — MTLS or CRM?
Over the past 5 years, Salesforce, Inc. (CRM) delivered a total return of -9.0%, compared to -88.6% for Materialise N.V. (MTLS). A $10,000 investment in CRM five years ago would be worth approximately $9K today (assuming dividends reinvested). Over 10 years, the gap is even starker: CRM returned +192.3% versus MTLS's -16.2%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — MTLS or CRM?
By beta (market sensitivity over 5 years), Materialise N.V. (MTLS) is the lower-risk stock at 1.04β versus Salesforce, Inc.'s 1.04β — meaning CRM is approximately 0% more volatile than MTLS relative to the S&P 500. On balance sheet safety, Salesforce, Inc. (CRM) carries a lower debt/equity ratio of 11% versus 17% for Materialise N.V. — giving it more financial flexibility in a downturn.
05Which has better profit margins — MTLS or CRM?
Salesforce, Inc. (CRM) is the more profitable company, earning 18.0% net margin versus 5.0% for Materialise N.V. — meaning it keeps 18.0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: CRM leads at 21.5% versus 3.5% for MTLS. At the gross margin level — before operating expenses — CRM leads at 77.7%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is MTLS or CRM more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential. By this metric, Materialise N.V. (MTLS) is the more undervalued stock at a PEG of 0.78x versus Salesforce, Inc.'s 1.35x. A PEG below 1.0 is traditionally considered the threshold for growth-adjusted undervaluation. On forward earnings alone, Salesforce, Inc. (CRM) trades at 16.5x forward P/E versus 40.0x for Materialise N.V. — 23.5x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for MTLS: 93.1% to $10.00.
07Which pays a better dividend — MTLS or CRM?
In this comparison, CRM (0.9% yield) pays a dividend. MTLS does not pay a meaningful dividend and should not be held primarily for income.
08Is MTLS or CRM better for a retirement portfolio?
For long-horizon retirement investors, Salesforce, Inc. (CRM) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 1.04), 0.9% yield, +192.3% 10Y return). Both have compounded well over 10 years (CRM: +192.3%, MTLS: -16.2%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between MTLS and CRM?
Both stocks operate in the Technology sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. CRM pays a dividend while MTLS does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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