Mativ Holdings, Inc. (MATV)
NYSE:MATV
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Mativ Holdings
(NYSE:MATV)
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Rating:49Neutral
Price Target:
$8.00
▼(-39.89% Downside)
Action:Reiterated
Date:05/09/26
The score is held back primarily by high leverage and steep TTM revenue decline despite improved profitability and solid free cash flow. Technicals remain neutral-to-weak versus longer-term averages, while valuation gets modest support from the dividend and the earnings call is slightly positive due to margin progress and refinancing, tempered by softer near-term EBITDA guidance and higher input-cost inflation.
Positive Factors
Free cash flow generation
Consistent positive operating cash flow and strong TTM free cash flow indicate the business converts profits into cash. That durable cash generation supports debt reduction, targeted capex and strategic reinvestment over the next 2–6 months, improving financial flexibility despite elevated leverage.
Negative Factors
Elevated leverage
Net leverage materially above management's 2.5–3.5x target constrains financial flexibility and increases interest-rate and covenant sensitivity. High leverage reduces the pace at which cash flow can be reinvested and raises the importance of sustained FCF to achieve durable deleveraging.
Read all positive and negative factors
Positive Factors
Negative Factors
Free cash flow generation
Consistent positive operating cash flow and strong TTM free cash flow indicate the business converts profits into cash. That durable cash generation supports debt reduction, targeted capex and strategic reinvestment over the next 2–6 months, improving financial flexibility despite elevated leverage.
Read all positive factors
Mativ Holdings (MATV) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$481.73M
Dividend Yield3.26%
Average Volume (3M)483.54K
Price to Earnings (P/E)―
Beta (1Y)1.69
Revenue Growth0.82%
EPS GrowthN/A
CountryUS
Employees5,100
SectorBasic Materials
Sector Strength58
IndustryPaper, Lumber & Forest Products
Share Statistics
EPS (TTM)1.39
Shares Outstanding55,117,428
10 Day Avg. Volume576,796
30 Day Avg. Volume483,538
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)1.33
Price to Sales (P/S)0.33
P/FCF Ratio7.07
Enterprise Value/Market Cap3.09
Enterprise Value/Revenue0.75
Enterprise Value/Gross Profit4.33
Enterprise Value/Ebitda7.72
Forecast
1Y Price Target
$15.50Price Target Upside16.45% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.85
Revenue Forecast (FY)$2.02B
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, fi...
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 relate...
Mativ Holdings Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 12, 2026
Earnings Call Sentiment Positive
The call highlighted strong operational progress: meaningful margin expansion (adjusted EBITDA up 28%, margin +220 bps), significant segment-level EBITDA gains (FAM +41%, SAS +16%), improved cash generation and successful refinancing that derisks near-term maturities. Management also executed cost-savings (~$20M realized in 2025) and outlined a formal strategic blueprint and growing commercial pipeline (notably an aerospace films win). Offsetting these positives are near-term demand weaknesses (health care destocking and a temporary plant outage), softness in release liners/labels, a substantial upward revision to expected input cost inflation ($40M–$50M) and leverage that remains above target (net debt ~$954M, net leverage 4.1x). Overall, the company presented multiple concrete actions to protect margins (pricing actions, cost savings, asset optimization) and a clear plan to continue delevering, making the tone constructive despite macro and sector-specific headwinds.Positive Updates
Consolidated Profitability and Margin Expansion
Q1 adjusted EBITDA of $47.5M, up 28% year-over-year; adjusted EBITDA margin of 9.9%, an improvement of 220 basis points versus prior year — described as the strongest consolidated Q1 margin since the mid-2022 merger.
Negative Updates
Revenue Flat to Slight Decline
Consolidated net sales of $480M were nearly flat year-over-year on an organic basis and down ~1% as reported; SAS net sales declined ~2% year-over-year, driven primarily by lower health care volumes.
Read all updates
Q1-2026 Updates
Positive
Negative
Consolidated Profitability and Margin Expansion
Q1 adjusted EBITDA of $47.5M, up 28% year-over-year; adjusted EBITDA margin of 9.9%, an improvement of 220 basis points versus prior year — described as the strongest consolidated Q1 margin since the mid-2022 merger.
Read all positive updates
Company Guidance
Guidance highlights: Mativ expects Q2 adjusted EBITDA to be down a mid-single-digit percentage versus a strong prior year (driven largely by near-term health care volume weakness) while reiterating that pricing actions taken in January and March are intended to fully offset revised 2026 input cost inflation now estimated at $40–$50 million (up from a prior $20–$25 million view); the company is on track for $15–$20 million of cost savings in 2026 after realizing nearly $20 million in 2025, and continues to prioritize debt reduction toward a 2.5–3.5x net leverage goal (Q1 net leverage was 4.1x with net debt ≈ $954 million and liquidity ≈ $499 million); management expects annual interest expense of roughly $76 million, Q1 free cash flow was a use of $7 million (improving >$22 million YoY) against record 2025 free cash flow of $94 million with seasonally strongest cash generation expected in Q2–Q3, and the company plans modest incremental 2026 investments (~$10 million working capital and ~$5 million additional CapEx); Q1 metrics to frame this guidance: net sales $480 million, adjusted EBITDA $47.5 million (margin 9.9%, +220 bps), FAM sales $188 million with adj. EBITDA $27 million (margin 14.6%, +430 bps), SAS sales $291 million with adj. EBITDA ~ $31 million (margin 10.5%, +160 bps), and segment margins were restated ~100 bps lower after centralized cost allocations (consolidated adj. EBITDA unchanged).Mativ Holdings Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
38
Negative
Cash Flow
63
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.98B | 1.99B | 1.98B | 2.03B | 1.64B | 930.70M |
| Gross Profit | 343.30M | 299.70M | 364.10M | 355.80M | 306.00M | 183.20M |
| EBITDA | 192.50M | -249.50M | 139.60M | -270.90M | 70.70M | 81.00M |
| Net Income | 76.40M | -337.40M | -48.70M | -309.50M | -6.60M | 88.90M |
Balance Sheet | ||||||
| Total Assets | 2.03B | 2.05B | 2.45B | 2.64B | 3.67B | 2.42B |
| Cash, Cash Equivalents and Short-Term Investments | 82.30M | 84.20M | 94.30M | 120.20M | 101.10M | 74.70M |
| Total Debt | 1.09B | 1.12B | 1.15B | 1.17B | 1.74B | 1.30B |
| Total Liabilities | 1.56B | 1.55B | 1.59B | 1.69B | 2.49B | 1.74B |
| Stockholders Equity | 472.30M | 498.70M | 858.50M | 949.10M | 1.18B | 682.20M |
Cash Flow | ||||||
| Free Cash Flow | 116.20M | 93.80M | 39.20M | 40.20M | 142.60M | 19.20M |
| Operating Cash Flow | 150.70M | 133.80M | 94.80M | 106.60M | 202.20M | 58.10M |
| Investing Cash Flow | -34.80M | -37.00M | -56.70M | 547.20M | -481.30M | -636.50M |
| Financing Cash Flow | -125.30M | -106.70M | -55.90M | -662.90M | 331.60M | 599.90M |
Mativ Holdings Technical Analysis
Negative
13.31
Price Trends
8.89
Negative
10.50
Negative
11.03
Negative
Market Momentum
-0.22
Positive
47.04
Neutral
57.48
Neutral
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 8.93, above the 50-day MA of 8.89, and above the 200-day MA of 11.03, indicating a bearish trend. The MACD of -0.22 indicates Positive momentum. The RSI at 47.04 is Neutral, neither overbought nor oversold. The STOCH value of 57.48 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MATV.
Mativ Holdings Risk Analysis
Mativ Holdings disclosed 32 risk factors in its most recent earnings report. Mativ Holdings reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Mativ Holdings Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $10.37B | 3.72 | 25.27% | 1.96% | 3.06% | ― | |
64 Neutral | $4.55B | 24.91 | 8.44% | 1.53% | -6.40% | -24.83% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
56 Neutral | $4.90B | 47.15 | 4.72% | 1.37% | -12.99% | -79.48% | |
49 Neutral | $481.73M | -10.19 | 17.12% | 3.26% | 0.82% | ― | |
45 Neutral | $227.04M | -4.52 | -3.08% | ― | -11.89% | 79.35% | |
41 Neutral | $69.66M | -0.46 | -242.96% | 10.77% | -7.34% | -479.98% |
* Basic Materials Sector Average
MATV
Mativ Holdings
8.74
3.34
61.82%
CLW
Clearwater Paper
14.08
-14.85
-51.33%
LPX
Louisiana-Pacific
70.51
-20.81
-22.79%
MERC
Mercer International
1.04
-2.45
-70.23%
UFPI
UFP Industries
80.54
-14.44
-15.20%
SUZ
Suzano Papel e Celulose SA
8.31
-0.86
-9.37%
Mativ Holdings Corporate Events
Regulatory Filings and Compliance
Mativ Holdings Issues Clarification on Furnished Disclosure Materials
Neutral
May 6, 2026
Mativ Holdings has issued a legal clarification stating that certain information it is providing, including an accompanying exhibit, is being furnished rather than filed under U.S. securities laws. This designation means the materials are not subj...
Executive/Board ChangesShareholder Meetings
Mativ Holdings Shareholders Approve Expanded Equity Incentive Plan
Positive
May 6, 2026
At its 2026 Annual Meeting of Stockholders held on April 30, 2026, Mativ Holdings’ investors approved Amendment No. 2 to the company’s 2024 Equity and Incentive Plan, increasing the pool of shares available for equity awards by 1.6 mil...
Business Operations and StrategyPrivate Placements and Financing
Mativ Holdings Refinances and Restructures Multicurrency Credit Facilities
Positive
Apr 6, 2026
On April 3, 2026, Mativ Holdings, Inc. refinanced and restructured its existing credit facilities by entering into a ninth amendment to its multicurrency credit agreement, creating an aggregate of about $894.9 million in revolving and term loan co...
Executive/Board Changes
Mativ Holdings Announces Resignation of Group President Elwart
Neutral
Apr 2, 2026
Mativ Holdings, Inc. disclosed that its Group President, Ryan Elwart, tendered his resignation on March 30, 2026, with an effective departure date of April 27, 2026. The leadership change signals an upcoming transition in the company’s senio...
Business Operations and StrategyFinancial Disclosures
Mativ Highlights Growth Strategy and Portfolio Shift Post-Synergies
Positive
Mar 25, 2026
Mativ reported trailing twelve‑month revenue of $2.0 billion and adjusted EBITDA of $225 million as of the fourth quarter of fiscal 2025, with about 5,000 employees and sales across the Americas, EMEA and APAC. Its portfolio is split between...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.