SMX (Security Matters) Public Limited Company(SMX)Earnings, Financials & Key Ratios
SMX•NASDAQ
$1.53
$614 mkt cap·Price updated May 6, 2026
AboutSMX (Security Matters) Public Limited Company provides brand protection, authentication and track and trace technology for the anti-counterfeit market. Its proprietary marker system embeds a permanent or removable mark on solid, liquid, or gaseous objects or materials. The company's solutions comprise physical or chemical marker system coupled with a reader and connected to a blockchain digital platform for application in process tracing, authentication, and sustainability and circular economics industries. It serves brand owners, manufacturers, and suppliers. The company was formerly known as Empatan Public Limited Company and changed its name to SMX (Security Matters) Public Limited Company in February 2023. SMX (Security Matters) Public Limited Company is based in Dublin, Ireland.Show more
- Revenue$0
- EBITDA-$15M+26.4%
- Net Income-$31M-48.7%
- EPS (Diluted)-77608.00+92.2%
- ROE-113.82%+6.4%
- ROIC-40.49%+42.7%
- Debt/Equity0.27+111.0%
- Interest Coverage-1.24+50.8%
SMX Key Insights
SMX (Security Matters) Public Limited Company (SMX) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
No significant strengths identified
✗Weaknesses
- ✗Weak Piotroski F-Score: 3/9
- ✗Weak momentum: RS Rating 0 (bottom 0%)
- ✗Low quality earnings: Net income not backed by cash flow
- ✗Shares diluted 100.0% in last year
- ✗Trading more than 30% below 52-week high
- ✗Low asset turnover indicates capital-intensive operations
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
SMX Price & Volume
SMX (Security Matters) Public Limited Company (SMX) stock price & volume — 10-year historical chart
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SMX Growth Metrics
SMX (Security Matters) Public Limited Company (SMX) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
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5 Years-
3 Years-
TTM-
Profit CAGR
10 Years-
5 Years-
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EPS CAGR
10 Years-
5 Years-
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Return on Capital
10 Years-60.04%
5 Years-60.04%
3 Years-77.05%
Last Year-60.07%
SMX Peer Comparison
SMX (Security Matters) Public Limited Company (SMX) competitors in Testing, Inspection and Certification — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 COHU | 2.33B | 49.62 | -31.21 | 12.74% | -11.54% | -6.84% | 0.46 | |
 OSIS | 3.96B | 240.27 | 27.59 | 11.33% | 8.42% | 16.74% | 0.72 | |
 IDAI | 2.76M | 2.50 | -0.22 | -32.41% | -316.35% | -189.51% | 1.30 | |
 TRAK | 177.02M | 9.72 | 27.77 | 10.53% | 30.92% | 14.62% | 0.01 | |
 CDLX | 43.78M | 0.80 | -0.41 | -16.18% | -44.36% | -370.98% | ||
 IIIV | 486.07M | 22.00 | 39.29 | -7.29% | 7.33% | 3.22% | 0.01 | |
 ALOT | 109.61M | 14.35 | -7.44 | 2.16% | -11.2% | -22.09% | 0.64 | |
 AVNT | 3.47B | 37.84 | 42.52 | 0.61% | 2.51% | 3.46% | 0.81 |
Compare SMX vs Peers
SMX (Security Matters) Public Limited Company (SMX) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
SMX Income Statement
SMX (Security Matters) Public Limited Company (SMX) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|
| Sales/Revenue | 13K | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | - | -100% | - | - | - | - |
| Cost of Goods Sold | 10K | 0 | 0 | 227K | 2.27M | 0 |
| COGS % of Revenue | 76.92% | - | - | - | - | - |
| Gross Profit | 3K▲ 0% | 0▼ 100.0% | 0▲ 0% | -227K▲ 0% | -2.27M▼ 901.3% | 0▲ 0% |
| Gross Margin % | 23.08% | - | - | - | - | - |
| Gross Profit Growth % | - | -100% | - | - | -901.32% | - |
| Operating Expenses | 4.56M | 344.62K | 5.19M | 19.71M | 14.51M | 4.18M |
| OpEx % of Revenue | 35100% | - | - | - | - | - |
| Selling, General & Admin | 2.74M | 2.79M | 3.11M | 17.2M | 13.69M | 4.18M |
| SG&A % of Revenue | 21061.54% | - | - | - | - | - |
| Research & Development | 1.69M | 2.04M | 1.9M | 2.51M | 2.89M | 0 |
| R&D % of Revenue | 12992.31% | - | - | - | - | - |
| Other Operating Expenses | 136K | -4.49M | 180K | 0 | -2.07M | 0 |
| Operating Income | -4.56M▲ 0% | -344.62K▲ 92.4% | -5.19M▼ 1406.0% | -19.94M▼ 284.2% | -16.78M▲ 15.8% | -4.18M▲ 0% |
| Operating Margin % | -35076.92% | - | - | - | - | - |
| Operating Income Growth % | - | 92.44% | -1406.02% | -284.18% | 15.84% | - |
| EBITDA | -4.34M | -29.62K | -4.9M | -19.71M | -14.51M | -4.06M |
| EBITDA Margin % | -33392.31% | - | - | - | - | - |
| EBITDA Growth % | - | 99.32% | -16443.99% | -302.29% | 26.41% | - |
| D&A (Non-Cash Add-back) | 219K | 315K | 290K | 227K | 2.27M | 113.15K |
| EBIT | -4.49M | -343.03K | -3.96M | -13M | -21.91M | -3.45M |
| Net Interest Income | -12K | 136K | -1.1M | -6.31M | -7.54M | 733.89K |
| Interest Income | 67K | 237K | 28K | 1.58M | 5.96M | 733.89K |
| Interest Expense | 79K | 101K | 1.13M | 7.89M | 13.49M | 0 |
| Other Income/Expense | -13K | 1.59K | -994K | -1.05M | -18.62M | 733.89K |
| Pretax Income | -4.57M▲ 0% | -343.03K▲ 92.5% | -6.18M▼ 1702.8% | -20.99M▼ 239.4% | -35.4M▼ 68.7% | -3.45M▲ 0% |
| Pretax Margin % | -35176.92% | - | - | - | - | - |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 115.3K |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | -3.34% |
| Net Income | -4.57M▲ 0% | -4.94M▼ 8.0% | -6.18M▼ 25.2% | -20.91M▼ 238.2% | -31.09M▼ 48.7% | -3.56M▲ 0% |
| Net Margin % | -35176.92% | - | - | - | - | - |
| Net Income Growth % | - | -8% | -25.21% | -238.2% | -48.67% | - |
| Net Income (Continuing) | -4.57M | -343.03K | -6.18M | -20.99M | -35.4M | -3.56M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 20.77M | 15.98M | 0 |
| EPS (Diluted) | -4.47▲ 0% | -314958.00▼ 7045940.3% | 0.00▲ 100.0% | -999999.00▲ 0% | -77608.00▲ 92.2% | -▲ 0% |
| EPS Growth % | - | -7045940.27% | 100% | - | 94.35% | - |
| EPS (Basic) | -4.47 | -314958.00 | 0.00 | -999999.00 | -77608.00 | - |
| Diluted Shares Outstanding | 1.02M | 0 | 0 | 15 | 401 | 0 |
| Basic Shares Outstanding | 1.02M | 0 | 0 | 15 | 401 | 0 |
| Dividend Payout Ratio | - | - | - | - | - | - |
SMX Balance Sheet
SMX (Security Matters) Public Limited Company (SMX) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|
| Total Current Assets | 4.79M | 5.09M | 5.07M | 802K | 4.34M | 650.88K |
| Cash & Short-Term Investments | 4.34M | 4.17M | 1.4M | 168K | 2.34M | 490.22K |
| Cash Only | 4.34M | 4.17M | 1.4M | 168K | 2.34M | 490.22K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 417K | 396K | 444K | 405K | 1.89M | 0 |
| Days Sales Outstanding | 11.71K | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - |
| Other Current Assets | 0 | 70K | 72K | 87K | 0 | 0 |
| Total Non-Current Assets | 3.68M | 5.25M | 6.22M | 50.36M | 39.19M | 126.98M |
| Property, Plant & Equipment | 1.1M | 1.19M | 969K | 800K | 616K | 0 |
| Fixed Asset Turnover | 0.01x | - | - | - | - | 0.00x |
| Goodwill | 0 | 0 | 0 | 32.96M | 26.14M | 0 |
| Intangible Assets | 2.33M | 3.91M | 5.03M | 16.49M | 12.33M | 0 |
| Long-Term Investments | 248K | 147K | 221K | 115K | 105K | 253.51M |
| Other Non-Current Assets | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Assets | 8.46M▲ 0% | 10.34M▲ 22.1% | 11.29M▲ 9.2% | 51.16M▲ 353.2% | 43.53M▼ 14.9% | 127.63M▲ 0% |
| Asset Turnover | 0.00x | - | - | - | - | 0.00x |
| Asset Growth % | - | 22.13% | 9.19% | 353.22% | -14.92% | 37370.63% |
| Total Current Liabilities | 1.41M | 1.9M | 4.92M | 18.02M | 20.8M | 3.19M |
| Accounts Payable | 515K | 916K | 2.97M | 10.52M | 9.43M | 0 |
| Days Payables Outstanding | 18.8K | - | - | 16.91K | 1.51K | - |
| Short-Term Debt | 280K | 270K | 1.27M | 3.14M | 5.55M | 0 |
| Deferred Revenue (Current) | 20K | 30K | 50K | 153K | 177K | 30K |
| Other Current Liabilities | 350K | 532K | 392K | 2.57M | 2.39M | 3.07M |
| Current Ratio | 3.40x | 2.69x | 1.03x | 0.04x | 0.21x | 0.21x |
| Quick Ratio | 3.40x | 2.69x | 1.03x | 0.04x | 0.21x | 0.21x |
| Cash Conversion Cycle | - | - | - | - | - | - |
| Total Non-Current Liabilities | 616K | 551K | 4.21M | 894K | 337K | 4.38M |
| Long-Term Debt | 0 | 0 | 3.68M | 483K | 0 | 0 |
| Capital Lease Obligations | 531K | 466K | 440K | 411K | 337K | 924K |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 85K | 85K | 85K | 0 | 0 | 13.32M |
| Total Liabilities | 2.02M | 2.45M | 9.13M | 18.92M | 21.14M | 7.56M |
| Total Debt | 869K | 773K | 5.42M | 4.08M | 5.97M | 0 |
| Net Debt | -3.47M | -3.4M | 4.03M | 3.91M | 3.63M | -490.22K |
| Debt / Equity | 0.13x | 0.10x | 2.52x | 0.13x | 0.27x | 0.27x |
| Debt / EBITDA | - | - | - | - | - | -0.00x |
| Net Debt / EBITDA | - | - | - | - | - | 0.12x |
| Interest Coverage | -57.72x | -3.41x | -4.60x | -2.53x | -1.24x | - |
| Total Equity | 6.44M▲ 0% | 7.89M▲ 22.5% | 2.16M▼ 72.7% | 32.24M▲ 1395.5% | 22.39M▼ 30.6% | 120.07M▲ 0% |
| Equity Growth % | - | 22.51% | -72.68% | 1395.55% | -30.55% | 624515.47% |
| Book Value per Share | 6.30 | - | - | 999999.00 | 55892.45 | 55892.45 |
| Total Shareholders' Equity | 6.44M | 7.89M | 2.16M | 11.48M | 6.41M | 120.07M |
| Common Stock | 21.88M | 353 | 32.71M | 62.9M | 89.98M | 126.68M |
| Retained Earnings | -18.9M | -23.84M | -30.02M | -50.93M | -82.03M | -6.61M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 605K | 223K | -537K | -491K | -1.54M | 0 |
| Minority Interest | 0 | 0 | 0 | 20.77M | 15.98M | 0 |
SMX Cash Flow Statement
SMX (Security Matters) Public Limited Company (SMX) cash flow — operating, investing & free cash flow history
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|
| Cash from Operations | -3.52M | -3.91M | -5.22M | -12.48M | -11.31M | -11.31M |
| Operating CF Margin % | -27038.46% | - | - | - | - | - |
| Operating CF Growth % | - | -11.18% | -33.65% | -138.92% | 9.34% | -1638388.37% |
| Net Income | -4.57M | -4.94M | -6.18M | -20.91M | -35.4M | -3.56M |
| Depreciation & Amortization | 219K | 315K | 290K | 225K | 2.27M | 0 |
| Stock-Based Compensation | 483K | 484K | 306K | 3.27M | 3.66M | 0 |
| Deferred Taxes | 1K | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 65K | 237K | 953K | 145K | 19.04M | -733.89K |
| Working Capital Changes | 290K | -5K | -588K | 4.8M | -879K | 2.98M |
| Change in Receivables | -162K | -463K | 0 | 0 | 0 | 0 |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 323K | 401K | 2.22M | 2.07M | -2.78M | 0 |
| Cash from Investing | -958K | -1.76M | -1.13M | -1.04M | -190K | -126.25M |
| Capital Expenditures | -235K | -297K | -152K | -60K | -21K | 0 |
| CapEx % of Revenue | 1807.69% | - | - | - | - | - |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - |
| Other Investing | -723K | -1.47M | -975K | -976K | -169K | 0 |
| Cash from Financing | 6.7M | 6.12M | 3.85M | 11.95M | 13.11M | 128.05M |
| Debt Issued (Net) | -156K | -169K | 3.66M | 3.13M | 4.19M | -87K |
| Equity Issued (Net) | 1000K | 1000K | 182K | 1000K | 1000K | 985.16K |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 0 | 395K | 0 | 3.23M | -423K | 0 |
| Net Change in Cash | 2.63M▲ 0% | -170K▼ 106.5% | -2.77M▼ 1531.2% | -1.23M▲ 55.6% | 2.17M▲ 276.8% | 485.93K▲ 0% |
| Free Cash Flow | -4.47M▲ 0% | -5.67M▼ 26.8% | -6.35M▼ 11.9% | -13.52M▼ 112.8% | -11.5M▲ 14.9% | -1.32M▲ 0% |
| FCF Margin % | -34407.69% | - | - | - | - | - |
| FCF Growth % | - | -26.83% | -11.93% | -112.83% | 14.88% | - |
| FCF per Share | -4.37 | - | - | -887219.12 | -28715.02 | -28715.02 |
| FCF Conversion (FCF/Net Income) | 0.77x | 0.79x | 0.84x | 0.60x | 0.36x | 0.37x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 |
SMX Key Ratios
SMX (Security Matters) Public Limited Company (SMX) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2021 | 2022 | 2023 | 2024 | TTM |
|---|---|---|---|---|---|
| Return on Equity (ROE) | -68.92% | -123.1% | -121.59% | -113.82% | -2.97% |
| Return on Invested Capital (ROIC) | -6.93% | -72.92% | -70.65% | -40.49% | -40.49% |
| Debt / Equity | 0.10x | 2.52x | 0.13x | 0.27x | 0.27x |
| Interest Coverage | -3.41x | -4.60x | -2.53x | -1.24x | - |
| FCF Conversion | 0.79x | 0.84x | 0.60x | 0.36x | 0.37x |
| Revenue Growth | -100% | - | - | - | - |
SMX Frequently Asked Questions
SMX (Security Matters) Public Limited Company (SMX) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
SMX (Security Matters) Public Limited Company (SMX) grew revenue by 0.0% over the past year. Growth has been modest.
SMX (Security Matters) Public Limited Company (SMX) reported a net loss of $3.6M for fiscal year 2024.
Dividend & Returns
SMX (Security Matters) Public Limited Company (SMX) has a return on equity (ROE) of -113.8%. Negative ROE indicates the company is unprofitable.
SMX (Security Matters) Public Limited Company (SMX) had negative free cash flow of $1.3M in fiscal year 2024, likely due to heavy capital investments.
Explore More SMX
SMX (Security Matters) Public Limited Company (SMX) financial analysis — history, returns, DCA and operating performance tools
Total Return Calculator
Historical returns with dividends reinvested
DCA Calculator
Dollar cost averaging vs lump sum
Dividend History
Yield, growth, payout safety & DRIP
Earnings History
EPS trends, net income & profitability
Price History
Long-term charts & historical price data
Revenue History
Sales growth patterns & revenue breakdown
Financial Ratios
30 years of market, efficiency and balance-sheet ratios
Valuation
DCF intrinsic value, peer multiples & estimates