Matrix Service Company (MTRX) AI Stock Analysis

• Market Cap: $428.61M
• Dividend Yield: N/A
• Average Volume (3M): 319.56K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.53
• Revenue Growth: 17.16%
• EPS Growth: 24.10%
• Country: US
• Employees: 2,064
• Sector: Industrials
• Sector Strength: 72
• Industry: Engineering & Construction
• EPS (TTM): -0.13
• Shares Outstanding: 28,068,535
• 10 Day Avg. Volume: 186,717
• 30 Day Avg. Volume: 319,556
• 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: 0.40
• Enterprise Value/Revenue: 0.21
• Enterprise Value/Gross Profit: 3.77
• Enterprise Value/Ebitda: -13.50
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 47 Neutral
• Price Target: $11.00 ▼(-9.69% Downside)

Matrix Service Company faces significant challenges, with mixed financial performance and bearish technical indicators. The negative P/E ratio and absence of a dividend yield further weigh on the stock's attractiveness. Despite these issues, the earnings call provided some optimism with strong revenue growth and improved margins, suggesting potential for recovery.

Positive Factors

Revenue Growth

Strong revenue growth indicates effective project execution and market demand, supporting long-term business expansion and financial health.

Improved Gross Margins

Improved gross margins reflect better cost management and pricing power, enhancing profitability and competitive positioning over time.

Robust Opportunity Pipeline

A strong opportunity pipeline ensures future revenue streams and growth potential, reinforcing the company's market position and strategic outlook.

Negative Factors

Net Loss

Ongoing net losses indicate challenges in achieving profitability, which could impact financial stability and investor confidence if not addressed.

Backlog Reductions

Backlog reductions may signal potential revenue volatility and challenges in securing consistent project flow, affecting long-term growth prospects.

Restructuring Costs

Restructuring costs can strain financial resources and reflect underlying operational inefficiencies, potentially hindering sustainable profitability.

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 multiple streams within its core segments. The primary revenue model is project-based, where the company undertakes large-scale projects for clients in the energy and industrial sectors, billing for labor, materials, and overhead costs. Key revenue streams include engineering and construction services, maintenance contracts, and specialized services such as pipeline construction and facility upgrades. Additionally, the company often engages in long-term maintenance agreements, providing a steady income flow. Significant partnerships with major energy companies and government agencies further contribute to its earnings, allowing MTRX to secure large contracts and projects that enhance its financial performance.

Matrix Service Company Financial Statement Overview

Summary

Matrix Service Company shows modest revenue growth but struggles with profitability, as indicated by negative profit margins. The balance sheet is stable with low leverage, yet returns on equity are negative. Cash flow generation is strong, though recent declines in free cash flow growth pose risks. Overall, the company is in a transitional phase with mixed financial health indicators.

Income Statement

Matrix Service Company shows a modest revenue growth rate of 6.02% TTM, indicating some positive momentum. However, the company struggles with profitability, as evidenced by negative net profit and EBIT margins. The gross profit margin is low at 5.16%, reflecting challenges in cost management or pricing power.

Balance Sheet

The company's debt-to-equity ratio is relatively low at 0.15, suggesting conservative leverage. However, the return on equity is negative, indicating that the company is not generating sufficient returns on shareholders' equity. The equity ratio is not provided, but the overall balance sheet stability is moderate.

Cash Flow

Operating cash flow is positive, and the free cash flow to net income ratio is strong at 0.93, indicating efficient cash generation relative to net income. However, the free cash flow growth rate is negative, suggesting potential challenges in sustaining cash flow levels.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	815.59M	769.29M	728.21M	795.02M	707.78M	673.40M
Gross Profit	46.05M	39.68M	40.47M	30.82M	-1.21M	32.77M
EBITDA	-12.86M	-18.47M	-12.86M	-37.04M	-40.08M	-23.85M
Net Income	-23.90M	-29.46M	-24.98M	-52.36M	-63.90M	-31.22M
Balance Sheet
Total Assets	598.19M	600.26M	451.35M	400.50M	440.79M	467.56M
Cash, Cash Equivalents and Short-Term Investments	192.31M	224.64M	115.61M	54.81M	52.37M	83.88M
Total Debt	20.36M	21.43M	22.89M	35.32M	40.62M	26.52M
Total Liabilities	461.92M	457.54M	287.17M	219.02M	213.09M	182.02M
Stockholders Equity	136.27M	142.72M	164.18M	181.48M	227.71M	285.54M
Cash Flow
Free Cash Flow	71.90M	109.79M	65.58M	1.24M	-57.54M	-7.33M
Operating Cash Flow	79.65M	117.47M	72.57M	10.25M	-54.20M	-2.97M
Investing Cash Flow	-7.29M	-7.45M	-945.00K	-2.54M	35.67M	-2.26M
Financing Cash Flow	-4.18M	-1.04M	-10.37M	-5.06M	12.70M	-12.32M

Matrix Service Company Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 12.18
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

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 12.18 is above the 20-day moving average (MA) of 11.64, below the 50-day MA of 12.71, and below the 200-day MA of 12.97, indicating a neutral trend. The MACD of -0.15 indicates Negative momentum. The RSI at 50.19 is Neutral, neither overbought nor oversold. The STOCH value of 80.92 is Negative, 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
ORN	66 Neutral	$456.87M	48.45	6.31%	―	7.02%	―
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
ESOA	60 Neutral	$146.19M	439.00	―	1.03%	16.80%	-98.32%
BBCP	58 Neutral	$358.26M	43.04	3.32%	―	-8.98%	-38.23%
MTRX	47 Neutral	$428.61M	-14.39	-16.33%	―	17.16%	24.10%
SLND	43 Neutral	$173.70M	―	-84.16%	―	-9.10%	21.10%
MSW	38 Underperform	$19.84M	―	-578.91%	―	23.25%	-343.35%

Matrix Service Company Corporate Events

Matrix Service Company Holds Annual Stockholders Meeting

On November 4, 2025, Matrix Service Company held its 2025 Annual Meeting of Stockholders, where several key proposals were voted upon. The stockholders elected directors, ratified Deloitte & Touche LLP as the independent accounting firm, approved executive compensation, adopted a new employee stock purchase plan, and amended the stock and incentive compensation plan to increase authorized shares. These decisions reflect the company’s strategic focus on governance, financial oversight, and employee incentives, potentially impacting its operational efficiency and shareholder value.