Mativ Holdings (MATV) AI Stock Analysis

• Market Cap: $474.37M
• Dividend Yield: 3.26%
• Average Volume (3M): 356.10K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.64
• Revenue Growth: 0.39%
• EPS Growth: -505.56%
• Country: US
• Employees: 5,100
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Paper, Lumber & Forest Products
• EPS (TTM): 0.15
• Shares Outstanding: 54,777,042
• 10 Day Avg. Volume: 396,853
• 30 Day Avg. Volume: 356,097
• PEG Ratio: >-0.01
• Price to Book (P/B): 1.33
• Price to Sales (P/S): 0.33
• P/FCF Ratio: 7.07
• Enterprise Value/Market Cap: 3.19
• Enterprise Value/Revenue: 0.76
• Enterprise Value/Gross Profit: 4.36
• Enterprise Value/Ebitda: 8.85
• 1Y Price Target: $18.25
• Price Target Upside: 37.11% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): 0.97
• Revenue Forecast (FY): $2.02B

• Rating: 52 Neutral
• Price Target: $9.00 ▼(-32.38% Downside)
• Action: Reiterated Date: 02/20/26
• Date: Action: Reiterated 02/20/26

The score is held back primarily by weak financial performance—especially the severe 2025 loss, negative EBITDA, and high leverage—despite supportive operating/free cash flow. Technicals are modestly constructive and the earnings call suggests operational progress and further cost savings, but ongoing demand softness and input-cost headwinds keep the risk profile elevated; valuation is mixed due to a moderate dividend but negative P/E.

Positive Factors

Strong free cash flow generation

Consistent positive operating cash flow and a record $94M free cash flow provide durable funding to pay down debt, invest in strategic projects, and support dividends or share repurchases. This cash generation reduces reliance on capital markets and cushions the firm through earnings volatility.

Sustained revenue growth and diversified end markets

Material revenue expansion into 2025, across filtration, medical/hygiene, tapes/labels and packaging, signals diversified B2B demand and repeatable sales. Broad end-market exposure and qualification barriers for specialty substrates support stable, recurring revenue over the medium term.

Margin upside from FAM outperformance and cost saves

Improved FAM margins and realized $20M in savings show structural cost and mix improvements. Additional $15–$20M of planned savings and pricing discipline can sustain margin expansion even if volumes are muted, supporting operating leverage and long-term profitability recovery.

Negative Factors

Severe 2025 loss and negative EBITDA

A large, persistent loss and negative EBITDA materially weaken earnings quality and raise the risk that operating disruptions or non-recurring charges could recur. Sustained profitability is needed to normalize metrics and restore investor and creditor confidence over the medium term.

Elevated leverage and sizable absolute debt

High gross and net leverage constrain financial flexibility and increase sensitivity to interest-rate and demand shocks. Even with strong FCF, reducing leverage to target range (2.5–3.5x) will take multiple quarters, limiting capacity for growth investments or cushioning further earnings setbacks.

Raw-material inflation and weak end-market volumes

A multi‑million raw-material headwind combined with soft volumes compresses margins and undermines operating leverage. Pricing to fully offset inflation may be constrained by end-market weakness, meaning sustained margin recovery depends on successful cost savings and mix improvement execution.

Mativ Holdings Business Overview & Revenue Model

Company Description

Mativ Holdings, Inc. operates as a performance materials company. The company operates through two segments, Advanced Materials & Structures (AMS), and Engineered Papers (EP). The AMS segment manufactures resin-based rolled goods, such as nets, films and meltblown materials, bonding products, and adhesive components, as well as adhesives and other coating solutions, and converting services. It serves healthcare, construction, industrial, transportation, and filtration end-markets. The EP segment produces various cigarette papers and reconstituted tobacco products for the tobacco industry. It also produces non-tobacco papers for various applications, such as energy storage and industrial commodity paper grades. The company sells its products in the United States, Europe and the former Commonwealth of Independent States, the Asia Pacific, the Americas, and internationally. The company was formerly known as Schweitzer-Mauduit International, Inc. and changed its name to Mativ Holdings, Inc. in July 2022. Mativ Holdings, Inc. was incorporated in 1995 and is headquartered in Alpharetta, Georgia.

How the Company Makes Money

Mativ primarily makes money by manufacturing and selling specialty materials to business customers (B2B). Revenue is generated through: (1) Sales of engineered substrates and components: The company produces nonwovens, specialty papers, and related engineered materials that are sold either as rolls/sheets or as converted components used by customers in filtration, medical/hygiene, industrial, and packaging applications. (2) Pricing tied to material inputs and value-added performance: Depending on product type and customer agreements, pricing can reflect both the underlying cost of key inputs (e.g., pulp, polymers, energy, chemicals) and the premium for engineered performance characteristics (e.g., strength, porosity, barrier properties, durability, or printability). (3) Mix of standard and customized products: Earnings are supported by ongoing supply of repeat-use materials for customers’ production runs, alongside customized or application-specific materials where performance requirements can support higher margins. (4) Volume and long-term customer relationships: Many end markets (such as filtration, tapes/labels, packaging, and medical/hygiene) require consistent supply and qualification, supporting recurring sales once products are designed into customer applications. Information about specific significant partnerships is null.

Mativ Holdings Financial Statement Overview

Summary

Revenue has grown strongly into 2025, but results are dominated by sharply deteriorated profitability (deep 2025 net loss and negative EBITDA) and elevated leverage (higher debt-to-equity and very negative ROE). Positive and improving operating/free cash flow provides some cushion, but debt remains high versus the earnings profile.

Income Statement

Revenue has grown materially from 2020 ($1.07B) to 2025 ($1.99B), including +22.7% in 2025, but profitability has deteriorated sharply. After modest losses in 2022–2024, 2025 swung to a deep net loss (-$337M) and negative EBITDA (-$384M), with net margin at -17.0%. Gross margin has been relatively steady (~18–20% recently), suggesting the main pressure is below gross profit (cost structure/charges), creating a weak earnings quality profile and volatile results.

Balance Sheet

Leverage is elevated and worsened in 2025: debt-to-equity rose to ~2.15x (from ~1.34x in 2024) as equity declined to $499M. Returns to shareholders are strongly negative (return on equity -67.7% in 2025), reflecting sizable losses against a thinner equity base. Total debt remains high at ~$1.07B, which limits flexibility if earnings remain pressured, although total assets are still sizable (~$2.05B).

Cash Flow

Cash generation is a relative bright spot: operating cash flow was positive across the period and improved to $134M in 2025 (up from $95M in 2024), with free cash flow also $134M in 2025 and showing strong growth versus the prior year. That said, cash flow coverage of debt remains modest (operating cash flow covering ~47% of total debt in 2025), and the business has shown volatility (e.g., free cash flow fell materially in 2023 before rebounding).

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.99B	1.98B	2.03B	1.64B	930.70M
Gross Profit	299.70M	364.10M	355.80M	306.00M	183.20M
EBITDA	-249.50M	139.60M	-270.90M	70.70M	81.00M
Net Income	-337.40M	-48.70M	-309.50M	-6.60M	88.90M
Balance Sheet
Total Assets	2.05B	2.45B	2.64B	3.67B	2.42B
Cash, Cash Equivalents and Short-Term Investments	84.20M	94.30M	120.20M	101.10M	74.70M
Total Debt	1.12B	1.15B	1.17B	1.74B	1.30B
Total Liabilities	1.55B	1.59B	1.69B	2.49B	1.74B
Stockholders Equity	498.70M	858.50M	949.10M	1.18B	682.20M
Cash Flow
Free Cash Flow	93.80M	39.20M	40.20M	142.60M	19.20M
Operating Cash Flow	133.80M	94.80M	106.60M	202.20M	58.10M
Investing Cash Flow	-37.00M	-56.70M	547.20M	-481.30M	-636.50M
Financing Cash Flow	-106.70M	-55.90M	-662.90M	331.60M	599.90M

Mativ Holdings Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 13.31
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MATV, the sentiment is Negative. The current price of 13.31 is above the 20-day moving average (MA) of 10.23, above the 50-day MA of 11.92, and above the 200-day MA of 10.51, indicating a bearish trend. The MACD of -1.05 indicates Positive momentum. The RSI at 22.67 is Positive, neither overbought nor oversold. The STOCH value of 4.89 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MATV.

Mativ Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
UFPI	70 Outperform	$5.13B	18.57	9.23%	1.53%	-3.90%	-25.97%
SUZ	67 Neutral	$12.80B	4.81	31.48%	1.96%	6.65%	47.88%
LPX	64 Neutral	$5.38B	38.72	8.46%	1.37%	-3.26%	-46.80%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
MATV	52 Neutral	$474.37M	-1.97	-77.52%	3.26%	0.39%	-505.56%
CLW	44 Neutral	$213.79M	1.93	-2.50%	―	-21.76%	-1214.73%
MERC	44 Neutral	$96.45M	-0.27	-151.86%	10.77%	-5.85%	9.13%

Mativ Holdings Corporate Events

Mativ Holdings Updates CEO Compensation and Severance Terms

On February 6, 2026, Mativ Holdings’ Compensation Committee approved an amendment to the March 11, 2025 offer letter for President and Chief Executive Officer Shruti Singhal, effective January 1, 2026, setting his annual base salary at $950,000 and maintaining his eligibility for an annual short-term incentive bonus based on a Board- or Committee-determined percentage of base pay. The amendment also preserves Singhal’s eligibility for long-term equity-based incentives under the company’s 2024 Equity and Incentive Plan at a Board- or Committee-set target level and formalizes the company’s severance obligations, customary employment terms, and in-term and post-term restrictive covenants, clarifying the leadership compensation framework for stakeholders.

The most recent analyst rating on (MATV) stock is a Hold with a $13.00 price target. To see the full list of analyst forecasts on Mativ Holdings stock, see the MATV Stock Forecast page.

Mativ Holdings Finalizes Separation Agreement with Former CFO

Mativ Holdings, Inc. reported that its former Chief Financial Officer, Gregory Weitzel, whose departure was announced in a December 16, 2025 filing and became effective December 31, 2025, has formally entered into a separation agreement with the company as of January 8, 2026. The agreement confirms that Weitzel’s severance benefits and post-termination obligations will follow the terms of the company’s Executive Severance Plan and the governing documents for his outstanding equity awards, and that these benefits are aligned with those previously described in the company’s March 21, 2025 definitive proxy statement, providing clarity and continuity for stakeholders around the leadership transition and its financial implications.

The most recent analyst rating on (MATV) stock is a Hold with a $13.00 price target. To see the full list of analyst forecasts on Mativ Holdings stock, see the MATV Stock Forecast page.