Matthews International Corp. (MATW) intrinsic value & 10-year financials
Matthews International Corp. (MATW) has a Graham intrinsic value of $9.52 per share. At $19.36 on Oct 17, 2026, the stock trades 103% above that value. Over the last 10 fiscal years revenue grew 0.1% a year to $1.5B, with an average return on invested capital of 2.3%.
- Graham intrinsic value
- $9.52
- Share price (Oct 17, 2026)
- $19.36
- Price vs Graham value
- 103% above
- Market cap
- $602.1M
- Revenue (FY2025)
- $1.5B
- Revenue growth (10-yr CAGR)
- 0.1%
- ROIC (10-yr avg)
- 2.3%
- Free cash flow (FY2025)
- -$59.4M
MATW 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $1.5B | -$24.5M | -$0.79 | -$59.4M | 5.0% | 3.2% |
| FY2024 | $1.8B | -$59.7M | -$1.93 | $34.1M | -0.7% | -0.9% |
| FY2023 | $1.9B | $39.3M | $1.26 | $28.9M | 4.7% | 6.8% |
| FY2022 | $1.8B | -$99.8M | -$3.18 | $65.5M | -2.5% | -3.3% |
| FY2021 | $1.7B | $2.9M | $0.09 | $128.5M | 2.5% | 1.5% |
| FY2020 | $1.5B | -$87.2M | -$2.79 | $145.6M | -4.3% | -3.5% |
| FY2019 | $1.5B | -$38.0M | -$1.21 | $93.4M | 0.7% | 0.6% |
| FY2018 | $1.6B | $107.4M | $3.37 | $104.4M | 8.3% | 7.7% |
| FY2017 | $1.5B | $74.4M | $2.28 | $104.4M | 7.4% | 5.5% |
| FY2016 | $1.5B | $66.7M | $2.03 | $98.6M | 8.0% | 5.4% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
MATTHEWS INTERNATIONAL CORP has demonstrated mature, steady growth, with revenue compounding at 0.1% annually over the past decade.
MATTHEWS INTERNATIONAL CORP has historically struggled to out-earn its cost of capital, averaging just 2.3% ROIC.
MATTHEWS INTERNATIONAL CORP has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, MATTHEWS INTERNATIONAL CORP is modeled at 0.1% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $9.52 per share.