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MATERIALISE NV-ADR (MTLS) Stock Fundamental Analysis

NASDAQ:MTLS - Nasdaq - US57667T1007 - ADR - Currency: USD

5.5088  -0.67 (-10.86%)

Fundamental Rating

4

MTLS gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 282 industry peers in the Software industry. MTLS has only an average score on both its financial health and profitability. MTLS has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

MTLS had positive earnings in the past year.
In the past year MTLS had a positive cash flow from operations.
In multiple years MTLS reported negative net income over the last 5 years.
Each year in the past 5 years MTLS had a positive operating cash flow.
MTLS Yearly Net Income VS EBIT VS OCF VS FCFMTLS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10M -10M 20M -20M 30M

1.2 Ratios

With a decent Return On Assets value of 2.39%, MTLS is doing good in the industry, outperforming 70.92% of the companies in the same industry.
The Return On Equity of MTLS (3.74%) is better than 70.92% of its industry peers.
MTLS has a better Return On Invested Capital (2.01%) than 70.21% of its industry peers.
Industry RankSector Rank
ROA 2.39%
ROE 3.74%
ROIC 2.01%
ROA(3y)1.49%
ROA(5y)1.1%
ROE(3y)2.38%
ROE(5y)1.51%
ROIC(3y)N/A
ROIC(5y)N/A
MTLS Yearly ROA, ROE, ROICMTLS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2 -2 4 -4

1.3 Margins

The Profit Margin of MTLS (3.46%) is better than 70.57% of its industry peers.
MTLS's Profit Margin has improved in the last couple of years.
The Operating Margin of MTLS (2.75%) is better than 68.44% of its industry peers.
In the last couple of years the Operating Margin of MTLS has remained more or less at the same level.
Looking at the Gross Margin, with a value of 56.26%, MTLS is doing worse than 63.48% of the companies in the same industry.
MTLS's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 2.75%
PM (TTM) 3.46%
GM 56.26%
OM growth 3Y-15.87%
OM growth 5Y0.15%
PM growth 3Y-8.8%
PM growth 5Y43.05%
GM growth 3Y-0.57%
GM growth 5Y0.29%
MTLS Yearly Profit, Operating, Gross MarginsMTLS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 40

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4

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), MTLS is destroying value.
The number of shares outstanding for MTLS remains at a similar level compared to 1 year ago.
Compared to 5 years ago, MTLS has more shares outstanding
The debt/assets ratio for MTLS has been reduced compared to a year ago.
MTLS Yearly Shares OutstandingMTLS Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M 50M
MTLS Yearly Total Debt VS Total AssetsMTLS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M

2.2 Solvency

MTLS has an Altman-Z score of 2.37. This is not the best score and indicates that MTLS is in the grey zone with still only limited risk for bankruptcy at the moment.
MTLS's Altman-Z score of 2.37 is in line compared to the rest of the industry. MTLS outperforms 51.42% of its industry peers.
MTLS has a debt to FCF ratio of 6.27. This is a slightly negative value and a sign of low solvency as MTLS would need 6.27 years to pay back of all of its debts.
MTLS's Debt to FCF ratio of 6.27 is in line compared to the rest of the industry. MTLS outperforms 54.96% of its industry peers.
MTLS has a Debt/Equity ratio of 0.10. This is a healthy value indicating a solid balance between debt and equity.
With a Debt to Equity ratio value of 0.10, MTLS perfoms like the industry average, outperforming 54.26% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.1
Debt/FCF 6.27
Altman-Z 2.37
ROIC/WACC0.25
WACC7.95%
MTLS Yearly LT Debt VS Equity VS FCFMTLS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50M 100M 150M 200M

2.3 Liquidity

A Current Ratio of 1.88 indicates that MTLS should not have too much problems paying its short term obligations.
The Current ratio of MTLS (1.88) is comparable to the rest of the industry.
MTLS has a Quick Ratio of 1.72. This is a normal value and indicates that MTLS is financially healthy and should not expect problems in meeting its short term obligations.
MTLS has a Quick ratio (1.72) which is comparable to the rest of the industry.
Industry RankSector Rank
Current Ratio 1.88
Quick Ratio 1.72
MTLS Yearly Current Assets VS Current LiabilitesMTLS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M 250M

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6

3. Growth

3.1 Past

MTLS shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 109.09%, which is quite impressive.
Measured over the past years, MTLS shows a very strong growth in Earnings Per Share. The EPS has been growing by 50.29% on average per year.
Looking at the last year, MTLS shows a small growth in Revenue. The Revenue has grown by 6.16% in the last year.
Measured over the past years, MTLS shows a small growth in Revenue. The Revenue has been growing by 6.28% on average per year.
EPS 1Y (TTM)109.09%
EPS 3Y1.49%
EPS 5Y50.29%
EPS Q2Q%-116.67%
Revenue 1Y (TTM)6.16%
Revenue growth 3Y9.09%
Revenue growth 5Y6.28%
Sales Q2Q%4.31%

3.2 Future

The Earnings Per Share is expected to grow by 17.58% on average over the next years. This is quite good.
Based on estimates for the next years, MTLS will show a quite strong growth in Revenue. The Revenue will grow by 13.86% on average per year.
EPS Next Y-46.78%
EPS Next 2Y5.29%
EPS Next 3Y14.11%
EPS Next 5Y17.58%
Revenue Next Year2.08%
Revenue Next 2Y5.16%
Revenue Next 3Y6.19%
Revenue Next 5Y13.86%

3.3 Evolution

The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
MTLS Yearly Revenue VS EstimatesMTLS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 100M 200M 300M 400M 500M
MTLS Yearly EPS VS EstimatesMTLS Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 0 0.1 -0.1 0.2 0.3 0.4

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4

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 20.40, which indicates a rather expensive current valuation of MTLS.
MTLS's Price/Earnings ratio is a bit cheaper when compared to the industry. MTLS is cheaper than 78.01% of the companies in the same industry.
When comparing the Price/Earnings ratio of MTLS to the average of the S&P500 Index (27.69), we can say MTLS is valued slightly cheaper.
A Price/Forward Earnings ratio of 18.42 indicates a rather expensive valuation of MTLS.
Based on the Price/Forward Earnings ratio, MTLS is valued a bit cheaper than the industry average as 78.37% of the companies are valued more expensively.
When comparing the Price/Forward Earnings ratio of MTLS to the average of the S&P500 Index (37.36), we can say MTLS is valued rather cheaply.
Industry RankSector Rank
PE 20.4
Fwd PE 18.42
MTLS Price Earnings VS Forward Price EarningsMTLS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

93.97% of the companies in the same industry are more expensive than MTLS, based on the Enterprise Value to EBITDA ratio.
MTLS's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 48.34
EV/EBITDA 8.42
MTLS Per share dataMTLS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 1 2 3 4 5

4.3 Compensation for Growth

MTLS's earnings are expected to grow with 14.11% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)0.41
EPS Next 2Y5.29%
EPS Next 3Y14.11%

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0

5. Dividend

5.1 Amount

No dividends for MTLS!.
Industry RankSector Rank
Dividend Yield N/A

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MATERIALISE NV-ADR

NASDAQ:MTLS (7/24/2025, 11:57:05 AM)

5.5088

-0.67 (-10.86%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSoftware & Services
GICS IndustrySoftware
Earnings (Last)04-24 2025-04-24/bmo
Earnings (Next)N/A N/A
Inst Owners14.45%
Inst Owner Change-0.16%
Ins Owners0.5%
Ins Owner ChangeN/A
Market Cap325.39M
Analysts84.44
Price Target9.08 (64.83%)
Short Float %0.59%
Short Ratio3.65
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)0
Avg Revenue beat(2)-7.88%
Min Revenue beat(2)-9.94%
Max Revenue beat(2)-5.82%
Revenue beat(4)1
Avg Revenue beat(4)-3.36%
Min Revenue beat(4)-9.94%
Max Revenue beat(4)2.5%
Revenue beat(8)1
Avg Revenue beat(8)-3.51%
Revenue beat(12)4
Avg Revenue beat(12)-1.46%
Revenue beat(16)7
Avg Revenue beat(16)-0.68%
PT rev (1m)0%
PT rev (3m)-8.56%
EPS NQ rev (1m)0%
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)5.89%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-1.62%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.12%
Valuation
Industry RankSector Rank
PE 20.4
Fwd PE 18.42
P/S 1.03
P/FCF 48.34
P/OCF 9.03
P/B 1.12
P/tB 1.58
EV/EBITDA 8.42
EPS(TTM)0.27
EY4.9%
EPS(NY)0.3
Fwd EY5.43%
FCF(TTM)0.11
FCFY2.07%
OCF(TTM)0.61
OCFY11.08%
SpS5.35
BVpS4.92
TBVpS3.49
PEG (NY)N/A
PEG (5Y)0.41
Profitability
Industry RankSector Rank
ROA 2.39%
ROE 3.74%
ROCE 2.55%
ROIC 2.01%
ROICexc 3.13%
ROICexgc 5.1%
OM 2.75%
PM (TTM) 3.46%
GM 56.26%
FCFM 2.13%
ROA(3y)1.49%
ROA(5y)1.1%
ROE(3y)2.38%
ROE(5y)1.51%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3Y-21.04%
ROICexcg growth 5Y0.6%
ROICexc growth 3Y-20.21%
ROICexc growth 5Y-0.54%
OM growth 3Y-15.87%
OM growth 5Y0.15%
PM growth 3Y-8.8%
PM growth 5Y43.05%
GM growth 3Y-0.57%
GM growth 5Y0.29%
F-Score6
Asset Turnover0.69
Health
Industry RankSector Rank
Debt/Equity 0.1
Debt/FCF 6.27
Debt/EBITDA 0.83
Cap/Depr 116.42%
Cap/Sales 9.28%
Interest Coverage 6.07
Cash Conversion 106.43%
Profit Quality 61.59%
Current Ratio 1.88
Quick Ratio 1.72
Altman-Z 2.37
F-Score6
WACC7.95%
ROIC/WACC0.25
Cap/Depr(3y)95.62%
Cap/Depr(5y)86.72%
Cap/Sales(3y)8.37%
Cap/Sales(5y)8.23%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)109.09%
EPS 3Y1.49%
EPS 5Y50.29%
EPS Q2Q%-116.67%
EPS Next Y-46.78%
EPS Next 2Y5.29%
EPS Next 3Y14.11%
EPS Next 5Y17.58%
Revenue 1Y (TTM)6.16%
Revenue growth 3Y9.09%
Revenue growth 5Y6.28%
Sales Q2Q%4.31%
Revenue Next Year2.08%
Revenue Next 2Y5.16%
Revenue Next 3Y6.19%
Revenue Next 5Y13.86%
EBIT growth 1Y131.06%
EBIT growth 3Y-8.23%
EBIT growth 5Y6.45%
EBIT Next Year136.08%
EBIT Next 3Y53.71%
EBIT Next 5Y43.21%
FCF growth 1Y347.41%
FCF growth 3Y-29.27%
FCF growth 5Y-17.05%
OCF growth 1Y38.34%
OCF growth 3Y6.24%
OCF growth 5Y1.77%