Matrix Service Company (MTRX) AI Stock Analysis

• Market Cap: $367.42M
• Dividend Yield: N/A
• Average Volume (3M): 259.24K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.45
• Revenue Growth: 5.64%
• EPS Growth: -16.41%
• Country: US
• Employees: 2,064
• Sector: Industrials
• Sector Strength: 72
• Industry: Engineering & Construction
• EPS (TTM): -0.40
• Shares Outstanding: 28,068,535
• 10 Day Avg. Volume: 340,832
• 30 Day Avg. Volume: 259,242
• PEG Ratio: -0.77
• Price to Book (P/B): 2.63
• Price to Sales (P/S): 0.49
• P/FCF Ratio: 3.42
• Enterprise Value/Market Cap: 0.47
• Enterprise Value/Revenue: 0.23
• Enterprise Value/Gross Profit: 4.37
• Enterprise Value/Ebitda: -8.79
• 1Y Price Target: $17.00
• Price Target Upside: 30.37% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 64 Neutral
• Price Target: $16.50 ▲(26.53% Upside)

Matrix Service Company's stock score reflects a blend of positive cash flow management and technical momentum, tempered by profitability and valuation concerns. While the company demonstrated operational improvements and backlog growth, challenges remain with negative earnings and revised revenue guidance.

Matrix Service Company Business Overview & Revenue Model

Company Description

Matrix Service Company provides engineering, fabrication, infrastructure, construction, and maintenance services primarily to the oil, gas, power, petrochemical, industrial, agricultural, mining, and minerals markets in the United States, Canada, South Korea, Australia, and internationally. It operates through three segments: Utility and Power Infrastructure, Process and Industrial Facilities, and Storage and Terminal Solutions. The Utility and Power Infrastructure segment offers power delivery services, including construction of new substations, upgrades of existing substations, transmission and distribution line installations, distribution upgrades, and maintenance; and emergency and storm restoration services. This segment also provides construction and maintenance services to combined cycle plants and other natural gas fired power stations. The Process and Industrial Facilities segment engages in the crude oil refining; processing, fractionating, and marketing of natural gas and natural gas liquids; and offers plant maintenance, turnarounds, engineering, industrial cleaning services, and capital construction service. The Storage and Terminal Solutions segment undertakes work related to aboveground storage tanks and terminals; engineering, fabrication and construction, and maintenance and repair, which include planned and emergency services; and liquefied natural gas, liquid nitrogen/liquid oxygen, liquid petroleum, hydrogen, and other specialty vessels, which comprise spheres, as well as marine structures, and truck and rail loading/offloading facilities. Its services include engineering, fabrication and construction, and maintenance and repair, including planned and emergency services, as well as geodesic domes, aluminum internal floating roofs, floating suction and skimmer systems, roof drain systems, and floating roof seals. Matrix Service Company was founded in 1984 and is headquartered in Tulsa, Oklahoma.

How the Company Makes Money

Matrix Service Company generates revenue through its comprehensive suite of services, which includes engineering, procurement, fabrication, and construction (EPFC) services, as well as maintenance and repair solutions. The company serves major industries such as oil and gas, power generation, and chemicals, where it undertakes large-scale projects, often under long-term contracts. Key revenue streams include fees for project management, engineering and design services, fabrication of industrial components, and ongoing maintenance of client facilities. Significant partnerships with industry-leading companies and a strong reputation for safety and quality contribute to its consistent earnings, with project-based revenue being a major driver of its financial performance.

Matrix Service Company Financial Statement Overview

Summary

Matrix Service Company's financial performance shows a mix of positive and negative aspects. The company exhibits strong cash flow management and a stable balance sheet, with significant growth in free cash flow. However, persistent negative net and operating margins indicate ongoing profitability challenges.

Income Statement

Matrix Service Company has shown some improvement in its gross profit margin, moving from a negative margin in 2022 to a positive 5.9% in the TTM. However, net profit margins remain negative at -3.0%, indicating ongoing profitability challenges. Revenue growth is slightly positive, with a 2.0% increase in TTM revenue compared to the previous year. Despite these improvements, the company continues to report negative EBIT and EBITDA margins, reflecting operational inefficiencies.

Balance Sheet

The balance sheet shows a moderate debt-to-equity ratio of 0.14, indicating low leverage and conservative financial management. Return on equity remains negative due to sustained net losses, but the equity ratio is solid at 24.6%, suggesting a stable capital structure. Overall, the balance sheet is relatively strong, though profitability issues persist.

Cash Flow

Matrix Service Company exhibits robust cash flow management, with significant growth in free cash flow, increasing by 78.3% from the previous period. The operating cash flow to net income ratio is strong, indicating effective conversion of earnings into cash. The free cash flow to net income ratio is also healthy, reflecting efficient cash generation despite net losses.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	769.29M	769.29M	728.21M	795.02M	707.78M	673.40M
Gross Profit	39.68M	39.68M	40.47M	30.82M	-1.21M	32.77M
EBITDA	-19.73M	-31.50M	-12.86M	-37.04M	-40.08M	-23.85M
Net Income	-29.46M	-29.46M	-24.98M	-52.36M	-63.90M	-31.22M
Balance Sheet
Total Assets	0.00	0.00	451.35M	400.50M	440.79M	467.56M
Cash, Cash Equivalents and Short-Term Investments	0.00	0.00	115.61M	54.81M	52.37M	83.88M
Total Debt	21.43M	21.43M	22.89M	35.32M	40.62M	26.52M
Total Liabilities	457.54M	457.54M	287.17M	219.02M	213.09M	182.02M
Stockholders Equity	142.72M	142.72M	164.18M	181.48M	227.71M	285.54M
Cash Flow
Free Cash Flow	109.79M	109.79M	65.58M	1.24M	-57.54M	-7.33M
Operating Cash Flow	117.47M	117.47M	72.57M	10.25M	-54.20M	-2.97M
Investing Cash Flow	-7.45M	-7.45M	-945.00K	-2.54M	35.67M	-2.26M
Financing Cash Flow	-1.04M	-1.04M	-10.37M	-5.06M	12.70M	-12.32M

Matrix Service Company Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 13.04
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MTRX, the sentiment is Negative. The current price of 13.04 is below the 20-day moving average (MA) of 13.65, below the 50-day MA of 14.41, and below the 200-day MA of 13.17, indicating a bearish trend. The MACD of -0.45 indicates Positive momentum. The RSI at 41.91 is Neutral, neither overbought nor oversold. The STOCH value of 59.99 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MTRX.

Matrix Service Company Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ESOA	66 Neutral	165.34M	57.97	42.77%	0.60%	9.52%	-88.22%
MTRX	64 Neutral	$367.42M	―	-19.20%	―	5.64%	-16.41%
ORN	64 Neutral	343.31M	29.81	6.82%	―	15.85%	―
BBCP	63 Neutral	375.76M	44.09	3.66%	―	-8.98%	-38.23%
SHIM	46 Neutral	98.88M	-1.63	361.43%	―	-0.77%	30.69%
SLND	45 Neutral	245.13M	-2.81	-48.80%	―	-23.35%	-49.27%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%

Matrix Service Company Corporate Events

Matrix Service Company Announces Key Leadership Changes

Matrix Service Company announced organizational changes effective May 5, 2025, promoting Shawn P. Payne to President Engineering & Construction to enhance business efficiency. Concurrently, Alan R. Updyke and Glyn A. Rodgers will depart the company as of April 30, 2025, with severance packages, marking a strategic shift without any disputes.