Materialise (MTLS) AI Stock Analysis

• Market Cap: $356.77M
• Dividend Yield: N/A
• Average Volume (3M): 167.21K
• Price to Earnings (P/E): 57.3
• Beta (1Y): 0.99
• Revenue Growth: 3.63%
• EPS Growth: -48.48%
• Country: US
• Employees: 488
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Application
• EPS (TTM): 0.03
• Shares Outstanding: 59,067,184
• 10 Day Avg. Volume: 184,227
• 30 Day Avg. Volume: 167,205
• PEG Ratio: 0.27
• Price to Book (P/B): 1.62
• Price to Sales (P/S): 1.51
• P/FCF Ratio: 79.06
• Enterprise Value/Market Cap: 0.73
• Enterprise Value/Revenue: 0.98
• Enterprise Value/Gross Profit: 1.73
• Enterprise Value/Ebitda: 8.20
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0

• Rating: 63 Neutral
• Price Target: $6.50 ▲(7.62% Upside)

Materialise's overall stock score reflects stable financial performance with strong gross margins and a conservative balance sheet. However, challenges in revenue growth and profitability, along with a high P/E ratio, suggest overvaluation. The technical analysis indicates positive momentum, but macroeconomic challenges in key segments temper the outlook.

Materialise Business Overview & Revenue Model

Company Description

Materialise (MTLS) is a global leader in 3D printing and additive manufacturing solutions, focusing on transforming the way products are designed and manufactured across various industries, including healthcare, aerospace, automotive, and consumer goods. The company offers a comprehensive suite of software solutions, 3D printing services, and manufacturing technologies, enabling clients to innovate and optimize their production processes. Materialise's core products include software for 3D printing preparation and management, as well as a range of additive manufacturing services that cater to both prototyping and production needs.

How the Company Makes Money

Materialise generates revenue through multiple streams, primarily from software licensing and service fees. The software segment includes sales from its proprietary software solutions that assist in the design and preparation of 3D printing processes, with recurring revenue from licenses and subscriptions. Additionally, the company earns significant income from its 3D printing services, providing custom manufacturing solutions for clients across various industries. Materialise also engages in partnerships with major players in the 3D printing ecosystem, enhancing its market reach and capabilities, further contributing to its revenue. The company's focus on innovation and expansion into new markets, such as healthcare applications, also plays a critical role in driving its financial growth.

Materialise Financial Statement Overview

Summary

Materialise shows consistent revenue growth and improving profitability metrics. The balance sheet is strong with low leverage, but there are potential liquidity constraints due to decreased cash reserves. Cash flow generation is stable, though free cash flow is volatile.

Income Statement

Materialise has shown a consistent growth trajectory in total revenue over the years, with a notable increase from $170.4M in 2020 to $269.9M in TTM 2025. The gross profit margin remains strong at 56.3% in TTM, and the net profit margin has improved to 3.6% from negative levels in 2022. However, EBIT margin has decreased to 2.3% in TTM, indicating pressures on operational efficiency. EBITDA margin is solid at 11.8%, showing stable earnings before non-cash expenses.

Balance Sheet

The company maintains a healthy balance sheet with a debt-to-equity ratio of 0.15, suggesting a conservative leverage approach. The equity ratio stands at 63.7% in TTM, indicating strong equity financing. Return on Equity has improved to 3.9% in TTM, reflecting better profitability. However, the decrease in cash and short-term investments over the years indicates potential liquidity constraints.

Cash Flow

Operating cash flow to net income ratio is robust at 3.2 in TTM, highlighting strong cash generation relative to net income. However, free cash flow growth has been volatile, with TTM free cash flow at $5.8M, a slight improvement from previous periods. The free cash flow to net income ratio is lower at 0.6, indicating less cash available for expansion or dividends.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	265.54M	266.76M	256.13M	232.02M	205.45M	170.45M
Gross Profit	150.16M	150.82M	145.13M	128.76M	117.28M	94.00M
EBITDA	31.66M	31.24M	30.09M	23.44M	36.72M	13.75M
Net Income	5.63M	13.44M	6.72M	-2.15M	13.15M	-7.27M
Balance Sheet
Total Assets	404.38M	396.34M	396.63M	411.26M	413.41M	327.67M
Cash, Cash Equivalents and Short-Term Investments	116.71M	102.30M	127.57M	140.87M	196.03M	111.54M
Total Debt	53.67M	41.28M	64.40M	80.98M	99.11M	115.11M
Total Liabilities	154.97M	147.84M	160.04M	182.33M	180.83M	194.56M
Stockholders Equity	249.49M	248.58M	236.65M	228.96M	232.58M	133.10M
Cash Flow
Free Cash Flow	1.54M	5.08M	8.40M	-64.00K	14.12M	12.33M
Operating Cash Flow	22.77M	31.46M	20.16M	24.71M	25.84M	29.98M
Investing Cash Flow	-21.17M	-28.59M	-11.04M	-53.92M	-13.13M	-28.27M
Financing Cash Flow	-8.98M	-27.64M	-22.37M	-24.87M	71.16M	-16.89M

Materialise Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 6.04
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MTLS, the sentiment is Neutral. The current price of 6.04 is above the 20-day moving average (MA) of 6.01, above the 50-day MA of 5.53, and above the 200-day MA of 5.76, indicating a neutral trend. The MACD of 0.14 indicates Positive momentum. The RSI at 51.76 is Neutral, neither overbought nor oversold. The STOCH value of 39.66 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for MTLS.

Materialise Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TRAK	―	$286.51M	45.33	14.48%	0.49%	10.53%	21.98%
MTLS	―	$356.77M	57.34	2.21%	―	3.63%	-48.48%
Sector *	―	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
CMRC	―	$399.64M	―	-55.85%	―	4.06%	57.50%
API	―	$336.64M	―	-3.84%	―	-3.60%	48.15%
MKTW	―	$242.30M	1.38	―	11.68%	-17.17%	497.89%
NRDY	―	$211.81M	―	-105.81%	―	-10.85%	-15.09%

Materialise Corporate Events

Materialise NV Reports Q3 2025 Financial Results Amid Economic Challenges

On October 28, 2025, Materialise NV reported its financial results for the third quarter of 2025, highlighting a 2.2% increase in total consolidated revenue compared to the previous quarter, though a 3.5% decrease from the same period in 2024. The Materialise Medical segment achieved a record quarterly revenue growth of 10.3% year-over-year, despite macroeconomic challenges impacting overall revenue, particularly in the Manufacturing segment. The company maintained strong cash flow and a positive net result, with a net profit of 1,848 kEUR. CEO Brigitte de Vet-Veithen emphasized the company’s focus on cost control and continued R&D investments to ensure future growth, while acknowledging ongoing geopolitical and economic uncertainties.

Materialise NV Reports Q3 2025 Financial Results with Focus on Medical Segment Growth

Materialise NV reported a decrease in total revenue by 3.5% for the third quarter of 2025 compared to the same period in 2024, with a notable increase in their Medical segment revenue by 10.3%. Despite the revenue decline, the company saw an increase in cash flow from operating activities and a stronger net cash position. However, the operating result and net profit both decreased compared to the previous year, reflecting challenges in their Software and Manufacturing segments. The company’s strategic focus on the Medical segment is evident with increased R&D investments, which may influence future growth in this area.