Latest Ratios: P/E Ratio -1.3x · EV/EBITDA 7.8x · ROE -49.7%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $449M | $663M | $592M | $835M | $887M | $939M | $1.3B | $1.3B | $769M | $1.4B | $1.4B |
| Enterprise Value | $1.5B | $1.7B | $1.7B | $1.9B | $2.5B | $2.2B | $1.8B | $1.7B | $1.3B | $2.0B | $1.7B |
| P/E Ratio → | -1.32 | — | — | — | — | 10.68 | 15.12 | 15.21 | 8.13 | 40.50 | 16.86 |
| P/S Ratio | 0.23 | 0.33 | 0.30 | 0.41 | 0.54 | 1.01 | 1.16 | 1.27 | 0.74 | 1.41 | 1.65 |
| P/B Ratio | 0.90 | 1.33 | 0.69 | 0.88 | 0.75 | 1.38 | 1.93 | 2.17 | 1.38 | 2.53 | 2.73 |
| P/FCF | 4.79 | 7.07 | 15.10 | 20.76 | 6.22 | 48.90 | 9.75 | 10.26 | 7.03 | 15.35 | 14.00 |
| P/OCF | 3.36 | 4.96 | 6.24 | 7.83 | 4.39 | 16.16 | 7.74 | 8.08 | 5.53 | 10.58 | 10.69 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.86 | 0.83 | 0.93 | 1.54 | 2.32 | 1.67 | 1.70 | 1.25 | 2.00 | 2.05 |
| EV / EBITDA | 7.84 | 8.97 | 11.00 | — | 36.27 | 42.45 | 9.00 | 9.07 | 6.60 | 10.45 | 11.13 |
| EV / EBIT | 31.39 | — | — | — | — | 155.43 | 14.00 | 13.07 | 8.95 | 15.29 | 15.64 |
| EV / FCF | — | 18.14 | 42.11 | 46.86 | 17.73 | 112.52 | 13.95 | 13.77 | 11.86 | 21.74 | 17.36 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 15.1% | 15.1% | 18.4% | 17.6% | 18.7% | 19.7% | 28.7% | 28.4% | 26.7% | 28.7% | 30.6% |
| Operating Margin | 2.4% | 2.4% | 0.3% | -20.4% | -2.5% | -1.7% | 12.0% | 13.1% | 13.0% | 13.1% | 13.1% |
| Net Profit Margin | -17.0% | -17.0% | -2.5% | -15.3% | -0.4% | 9.6% | 7.8% | 8.4% | 9.1% | 3.5% | 9.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -49.7% | -49.7% | -5.4% | -29.1% | -0.7% | 13.4% | 13.4% | 14.8% | 17.1% | 6.5% | 17.0% |
| ROA | -15.0% | -15.0% | -1.9% | -9.8% | -0.2% | 4.4% | 5.5% | 5.8% | 6.3% | 2.5% | 6.7% |
| ROIC | 2.1% | 2.1% | 0.2% | -12.9% | -1.3% | -0.8% | 8.7% | 9.5% | 9.2% | 9.8% | 9.7% |
| ROCE | 2.4% | 2.4% | 0.3% | -14.9% | -1.5% | -0.9% | 9.4% | 10.2% | 9.9% | 10.5% | 10.1% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.25 | 2.25 | 1.34 | 1.23 | 1.48 | 1.90 | 0.91 | 0.91 | 1.12 | 1.25 | 0.87 |
| Debt / EBITDA | 5.92 | 5.92 | 7.68 | — | 24.99 | 25.47 | 2.98 | 2.85 | 3.16 | 3.64 | 2.85 |
| Net Debt / Equity | — | 2.08 | 1.23 | 1.11 | 1.39 | 1.79 | 0.83 | 0.74 | 0.95 | 1.06 | 0.66 |
| Net Debt / EBITDA | 5.47 | 5.47 | 7.05 | — | 23.54 | 24.00 | 2.71 | 2.31 | 2.69 | 3.07 | 2.16 |
| Debt / FCF | — | 11.07 | 27.01 | 26.10 | 11.51 | 63.63 | 4.20 | 3.51 | 4.83 | 6.39 | 3.36 |
| Interest Coverage | -5.51 | -5.51 | -0.06 | -6.73 | -0.68 | 0.34 | 4.19 | 3.68 | 5.14 | 4.77 | 6.63 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.24 | 2.24 | 2.40 | 2.53 | 2.09 | 2.57 | 2.38 | 2.71 | 2.97 | 2.94 | 2.68 |
| Quick Ratio | 1.08 | 1.08 | 1.10 | 1.28 | 1.20 | 1.45 | 1.30 | 1.69 | 1.91 | 1.89 | 1.80 |
| Cash Ratio | 0.30 | 0.30 | 0.34 | 0.43 | 0.22 | 0.32 | 0.33 | 0.65 | 0.65 | 0.73 | 0.79 |
| Asset Turnover | — | 0.97 | 0.81 | 0.77 | 0.45 | 0.38 | 0.68 | 0.69 | 0.71 | 0.64 | 0.72 |
| Inventory Turnover | 5.13 | 5.13 | 4.55 | 4.73 | 3.21 | 2.88 | 4.26 | 4.54 | 5.03 | 4.51 | 4.88 |
| Days Sales Outstanding | — | 33.23 | 33.72 | 37.31 | 44.06 | 97.26 | 52.56 | 55.56 | 58.47 | 55.52 | 50.02 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 5.0% | 3.4% | 3.6% | 6.6% | 8.1% | 5.9% | 4.4% | 4.2% | 6.9% | 3.7% | 3.6% |
| Payout Ratio | — | — | — | — | — | 62.2% | 65.6% | 63.4% | 56.3% | 150.4% | 59.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | 9.4% | 6.6% | 6.6% | 12.3% | 2.5% | 5.9% |
| FCF Yield | 20.9% | 14.1% | 6.6% | 4.8% | 16.1% | 2.0% | 10.3% | 9.7% | 14.2% | 6.5% | 7.1% |
| Buyback Yield | 0.3% | 0.2% | 0.1% | 1.3% | 0.8% | 0.4% | 0.1% | 0.1% | 0.4% | 0.1% | 0.1% |
| Total Shareholder Yield | 5.3% | 3.6% | 3.8% | 7.9% | 8.9% | 6.3% | 4.5% | 4.3% | 7.3% | 3.8% | 3.6% |
| Shares Outstanding | — | $55M | $54M | $55M | $42M | $31M | $31M | $31M | $31M | $31M | $30M |
Eroding equity and leverage
According to current market data, MATV trades at a P/S of 0.23 and a forward P/E of 9.64, suggesting that investors are heavily discounting the company's future earnings potential relative to its historical valuation and broader specialty materials peers.
The low P/S multiple indicates that the market remains skeptical of the company's ability to achieve sustainable profitability following its recent merger and subsequent divestiture. This valuation appears to price in a permanent impairment of the business model rather than a cyclical recovery, warranting caution until margin stability is demonstrated.
Based on reported quarterly figures, MATV's ROIC has struggled to maintain positive territory, frequently hovering near zero or turning negative, which highlights a fundamental inability to generate adequate returns on the capital deployed into its manufacturing infrastructure.
The persistent decay in ROIC suggests that the company's heavy investment in legacy paper mills and resin-extrusion facilities is not yielding the expected economic value. Investors should monitor whether the recent divestiture of the Engineered Papers segment allows for a more efficient allocation of capital toward higher-margin growth initiatives.
As reported in recent financial statements, MATV's cash conversion cycle has remained elevated, reaching 72 days in 2026Q1, which suggests that the company faces ongoing challenges in optimizing its inventory management and receivables collection processes.
The high DIO relative to peers implies that the company may be holding excess inventory, potentially due to industrial destocking or inefficient production scheduling. This lack of working capital agility further pressures the company's liquidity position during periods of volatile demand.
Based on quarterly data, MATV's debt-to-equity ratio has climbed to 2.30 as of 2026Q1, signaling that the company's reliance on debt has intensified even as its equity base has been eroded by persistent net losses.
The elevated leverage, combined with inconsistent interest coverage, suggests that the company's balance sheet is increasingly vulnerable to interest rate volatility and operational shocks. The current debt profile appears to limit management's ability to pivot strategy without further diluting shareholders or seeking costly refinancing.
The P/E ratio is frequently misapplied to MATV, as the company's headline earnings are heavily distorted by non-recurring merger integration costs and asset impairment charges, which obscure the underlying cash-generative capacity of the core business.
Analysts should instead focus on EV/EBITDA or P/FCF to better understand the company's operational performance, as these metrics are less sensitive to the accounting noise currently plaguing the income statement. Relying on P/E in this context risks misinterpreting a temporary accounting loss for a permanent destruction of value.
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Quick answers to the most common questions about buying MATV stock.
Mativ Holdings, Inc.'s current P/E ratio is -1.3x. The historical average is 19.9x.
Mativ Holdings, Inc.'s current EV/EBITDA is 7.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.1x.
Mativ Holdings, Inc.'s return on equity (ROE) is -49.7%. The historical average is 8.9%.
Based on historical data, Mativ Holdings, Inc. is trading at a P/E of -1.3x. Compare with industry peers and growth rates for a complete picture.
Mativ Holdings, Inc.'s current dividend yield is 4.99%.
Mativ Holdings, Inc. has 15.1% gross margin and 2.4% operating margin.
Mativ Holdings, Inc.'s Debt/EBITDA ratio is 5.9x, indicating high leverage. A ratio above 4x may signal elevated financial risk.