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MATERIALISE NV-ADR (MTLS) Stock Fundamental Analysis

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

5.01  -0.01 (-0.2%)

Fundamental Rating

5

Overall MTLS gets a fundamental rating of 5 out of 10. We evaluated MTLS against 283 industry peers in the Software industry. Both the profitability and the financial health of MTLS get a neutral evaluation. Nothing too spectacular is happening here. MTLS is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

In the past year MTLS was profitable.
MTLS had a positive operating cash flow in the past year.
The reported net income has been mixed in the past 5 years: MTLS reported negative net income in multiple years.
In the past 5 years MTLS always reported a positive cash flow from operatings.
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 1.39%, MTLS is doing good in the industry, outperforming 65.72% of the companies in the same industry.
The Return On Equity of MTLS (2.26%) is better than 67.14% of its industry peers.
MTLS's Return On Invested Capital of 1.61% is fine compared to the rest of the industry. MTLS outperforms 67.49% of its industry peers.
Industry RankSector Rank
ROA 1.39%
ROE 2.26%
ROIC 1.61%
ROA(3y)1.52%
ROA(5y)1.12%
ROE(3y)2.44%
ROE(5y)1.55%
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

With a decent Profit Margin value of 2.12%, MTLS is doing good in the industry, outperforming 66.08% of the companies in the same industry.
MTLS's Profit Margin has improved in the last couple of years.
MTLS has a better Operating Margin (2.39%) than 66.78% of its industry peers.
In the last couple of years the Operating Margin of MTLS has remained more or less at the same level.
MTLS has a worse Gross Margin (56.55%) than 64.31% of its industry peers.
In the last couple of years the Gross Margin of MTLS has remained more or less at the same level.
Industry RankSector Rank
OM 2.39%
PM (TTM) 2.12%
GM 56.55%
OM growth 3Y-15.87%
OM growth 5Y0.16%
PM growth 3Y-7.79%
PM growth 5Y44%
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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5

2. Health

2.1 Basic Checks

MTLS has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it 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
Compared to 1 year ago, MTLS has an improved debt to assets ratio.
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 2.05. 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 has a Altman-Z score (2.05) which is comparable to the rest of the industry.
The Debt to FCF ratio of MTLS is 44.57, which is on the high side as it means it would take MTLS, 44.57 years of fcf income to pay off all of its debts.
The Debt to FCF ratio of MTLS (44.57) is comparable to the rest of the industry.
A Debt/Equity ratio of 0.17 indicates that MTLS is not too dependend on debt financing.
With a Debt to Equity ratio value of 0.17, MTLS perfoms like the industry average, outperforming 47.00% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.17
Debt/FCF 44.57
Altman-Z 2.05
ROIC/WACC0.21
WACC7.77%
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 2.16 indicates that MTLS has no problem at all paying its short term obligations.
The Current ratio of MTLS (2.16) is better than 65.02% of its industry peers.
MTLS has a Quick Ratio of 2.00. This indicates that MTLS is financially healthy and has no problem in meeting its short term obligations.
With a decent Quick ratio value of 2.00, MTLS is doing good in the industry, outperforming 61.13% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 2.16
Quick Ratio 2
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

The Earnings Per Share has grown by an impressive 109.09% over the past year.
The Earnings Per Share has been growing by 50.29% on average over the past years. This is a very strong growth
The Revenue has been growing slightly by 2.98% in the past year.
The Revenue has been growing slightly by 6.28% on average over the past years.
EPS 1Y (TTM)109.09%
EPS 3Y1.49%
EPS 5Y50.29%
EPS Q2Q%-100%
Revenue 1Y (TTM)2.98%
Revenue growth 3Y9.09%
Revenue growth 5Y6.28%
Sales Q2Q%-5.76%

3.2 Future

MTLS is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 16.23% yearly.
The Revenue is expected to grow by 13.86% on average over the next years. This is quite good.
EPS Next Y-46.78%
EPS Next 2Y5.29%
EPS Next 3Y14.11%
EPS Next 5Y16.24%
Revenue Next Year0.98%
Revenue Next 2Y4.34%
Revenue Next 3Y5.21%
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.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
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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5

4. Valuation

4.1 Price/Earnings Ratio

MTLS is valuated rather expensively with a Price/Earnings ratio of 18.56.
Based on the Price/Earnings ratio, MTLS is valued a bit cheaper than 78.09% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 26.76. MTLS is valued slightly cheaper when compared to this.
MTLS is valuated correctly with a Price/Forward Earnings ratio of 16.88.
Based on the Price/Forward Earnings ratio, MTLS is valued cheaply inside the industry as 80.92% of the companies are valued more expensively.
MTLS's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 34.91.
Industry RankSector Rank
PE 18.56
Fwd PE 16.88
MTLS Price Earnings VS Forward Price EarningsMTLS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, MTLS is valued cheaply inside the industry as 94.70% of the companies are valued more expensively.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of MTLS is on the same level as its industry peers.
Industry RankSector Rank
P/FCF 211.17
EV/EBITDA 6.81
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)0.37
EPS Next 2Y5.29%
EPS Next 3Y14.11%

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0

5. Dividend

5.1 Amount

MTLS does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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MATERIALISE NV-ADR

NASDAQ:MTLS (8/21/2025, 8:00:02 PM)

5.01

-0.01 (-0.2%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSoftware & Services
GICS IndustrySoftware
Earnings (Last)07-24 2025-07-24/bmo
Earnings (Next)N/A N/A
Inst Owners14.66%
Inst Owner Change-23.16%
Ins Owners0.5%
Ins Owner ChangeN/A
Market Cap295.93M
Analysts84.44
Price Target9.01 (79.84%)
Short Float %0.67%
Short Ratio3.82
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)-5.48%
Min Revenue beat(2)-5.82%
Max Revenue beat(2)-5.13%
Revenue beat(4)1
Avg Revenue beat(4)-4.6%
Min Revenue beat(4)-9.94%
Max Revenue beat(4)2.5%
Revenue beat(8)1
Avg Revenue beat(8)-3.6%
Revenue beat(12)3
Avg Revenue beat(12)-2.1%
Revenue beat(16)6
Avg Revenue beat(16)-1.03%
PT rev (1m)-0.75%
PT rev (3m)-0.75%
EPS NQ rev (1m)0%
EPS NQ rev (3m)200%
EPS NY rev (1m)0%
EPS NY rev (3m)5.89%
Revenue NQ rev (1m)-2.93%
Revenue NQ rev (3m)-1.78%
Revenue NY rev (1m)-1.08%
Revenue NY rev (3m)-1.08%
Valuation
Industry RankSector Rank
PE 18.56
Fwd PE 16.88
P/S 0.96
P/FCF 211.17
P/OCF 10.99
P/B 1.02
P/tB 1.42
EV/EBITDA 6.81
EPS(TTM)0.27
EY5.39%
EPS(NY)0.3
Fwd EY5.92%
FCF(TTM)0.02
FCFY0.47%
OCF(TTM)0.46
OCFY9.1%
SpS5.23
BVpS4.92
TBVpS3.52
PEG (NY)N/A
PEG (5Y)0.37
Profitability
Industry RankSector Rank
ROA 1.39%
ROE 2.26%
ROCE 2.04%
ROIC 1.61%
ROICexc 2.58%
ROICexgc 4.07%
OM 2.39%
PM (TTM) 2.12%
GM 56.55%
FCFM 0.45%
ROA(3y)1.52%
ROA(5y)1.12%
ROE(3y)2.44%
ROE(5y)1.55%
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-20.99%
ROICexcg growth 5Y0.64%
ROICexc growth 3Y-20.22%
ROICexc growth 5Y-0.55%
OM growth 3Y-15.87%
OM growth 5Y0.16%
PM growth 3Y-7.79%
PM growth 5Y44%
GM growth 3Y-0.57%
GM growth 5Y0.29%
F-Score5
Asset Turnover0.66
Health
Industry RankSector Rank
Debt/Equity 0.17
Debt/FCF 44.57
Debt/EBITDA 1.53
Cap/Depr 101%
Cap/Sales 8.26%
Interest Coverage 5.48
Cash Conversion 82.44%
Profit Quality 21.4%
Current Ratio 2.16
Quick Ratio 2
Altman-Z 2.05
F-Score5
WACC7.77%
ROIC/WACC0.21
Cap/Depr(3y)95.08%
Cap/Depr(5y)86.4%
Cap/Sales(3y)8.39%
Cap/Sales(5y)8.24%
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%-100%
EPS Next Y-46.78%
EPS Next 2Y5.29%
EPS Next 3Y14.11%
EPS Next 5Y16.24%
Revenue 1Y (TTM)2.98%
Revenue growth 3Y9.09%
Revenue growth 5Y6.28%
Sales Q2Q%-5.76%
Revenue Next Year0.98%
Revenue Next 2Y4.34%
Revenue Next 3Y5.21%
Revenue Next 5Y13.86%
EBIT growth 1Y-16.54%
EBIT growth 3Y-8.22%
EBIT growth 5Y6.45%
EBIT Next Year132.45%
EBIT Next 3Y52.16%
EBIT Next 5Y41.69%
FCF growth 1Y120.94%
FCF growth 3Y-28.9%
FCF growth 5Y-16.79%
OCF growth 1Y61.16%
OCF growth 3Y6.76%
OCF growth 5Y2.07%