Mattr (MATR) AI Stock Analysis

• Market Cap: C$543.57M
• Dividend Yield: N/A
• Average Volume (3M): 276.87K
• Price to Earnings (P/E): 57.6
• Beta (1Y): 0.65
• Revenue Growth: 27.14%
• EPS Growth: N/A
• Country: CA
• Employees: 1,810
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Equipment & Services
• EPS (TTM): 0.04
• Shares Outstanding: 61,351,513
• 10 Day Avg. Volume: 328,979
• 30 Day Avg. Volume: 276,865
• PEG Ratio: 2.13
• Price to Book (P/B): 1.15
• Price to Sales (P/S): 0.94
• P/FCF Ratio: -14.05
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: C$8.00
• Price Target Upside: -9.71% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 2
• EPS Forecast (FY): 0.61
• Revenue Forecast (FY): C$1.27B

• Rating: 55 Neutral
• Price Target: C$9.00 ▲(1.58% Upside)
• Action: Reiterated Date: 03/14/26
• Date: Action: Reiterated 03/14/26

The score is driven primarily by moderate financial performance: profitability has returned, but margins are thin, leverage is higher, and cash-flow conversion remains uneven. Technicals are mixed (improving vs short/mid-term averages but still below the 200-day with slightly negative MACD). Valuation is a meaningful headwind due to the high P/E, while the latest earnings call supports a cautiously positive view on growth initiatives but with near-term Q4 softness and macro/tariff risks.

Positive Factors

Revenue and Profitability Recovery

Mattr's TTM return to profitability and ~9% revenue growth indicate the business can generate positive operating cash and earnings after prior losses. This improves capacity for reinvestment, debt repayment and supports execution of strategic initiatives over the medium term.

Supply‑chain control via strategic acquisition

The acquisition that secures a long‑term exclusive supply agreement materially reduces input cost and tariff exposure risk, improving gross margin sustainability and supply reliability. This structural control helps stabilize production costs and supports competitive pricing over years.

Product adoption and capacity expansion (Flexpipe)

Growing customer adoption of larger diameter Flexpipe and planned productivity expansion (new Texas site) indicate scalable demand for higher‑value products. Durable technology adoption and capacity buildout support sustainable revenue mix improvement and long‑term market penetration.

Negative Factors

Increasing leverage

Debt levels have increased materially, narrowing financial flexibility. Higher leverage makes the company more sensitive to interest costs and cyclical revenue swings, constraining ability to invest, fund capex or smooth dividends and increasing refinancing risk in stressed markets.

Thin, volatile margins

Low single‑digit operating and net margins reduce shock absorption from cyclical downturns and commodity or input cost swings. Historical margin volatility (losses in prior years, peak in 2023) suggests inconsistent pricing power and leaves limited room to fund growth or aggressive deleveraging.

Cyclicality and tariff exposure

Significant exposure to energy, mining and industrial end markets and recent tariff shocks create structural demand and cost volatility. Tariffs and regional economic weakness raise working capital needs and weaken margin visibility, increasing execution risk across project cycles.

Mattr Business Overview & Revenue Model

Company Description

Mattr Corp. operates as a material sciences company that serves the infrastructure, energy, and transportation markets worldwide. It operates through three segments: Composite Systems, Automotive and Industrial, and Pipeline and Pipe Services. The Composite Systems segment manufactures flexible composite that are used for oil and gas gathering, and other applications; fiberglass reinforced plastic underground storage tanks for the retail fuel, water and wastewater, and oil and gas markets. The Automotive and Industrial segment manufactures heat-shrinkable products, including thin, medium, and heavy-walled tubing; sleeves and molded products, as well as heat-shrink accessories and equipment; and low-voltage wires and cables for control, instrumentation, thermocouple, power, and industrial applications. The Pipeline and Pipe Services segment offers ultrasonic and radiographic pipeline girth weld inspection services to pipeline operators and construction contractors. The company was formerly known as Shaw Industries Ltd. and changed its name to Shawcor Ltd. in 2001. Shawcor Ltd. was founded in 1930 and is headquartered in Toronto, Canada.

How the Company Makes Money

Mattr makes money primarily by manufacturing and selling engineered products and systems to customers in energy infrastructure and industrial end markets. A major revenue driver is the sale of composite pipe products (including pipe, fittings, and associated components) used in new pipeline builds, replacements, and repairs; revenue is recognized as products are delivered (and, where applicable, as projects are executed under customer contracts). The company also generates revenue from engineered solutions tied to customer specifications—often bundling design/engineering support, product customization, and project-related services with product sales—resulting in contract-based or project-based revenue tied to capital spending and maintenance cycles in pipeline and industrial infrastructure. Key factors that influence earnings include demand from oil and gas production and transportation activity, infrastructure integrity and replacement needs, and the timing/scale of customer project awards. Specific details on material partnerships or customer concentration are null.

Mattr Financial Statement Overview

Summary

TTM results show a return to profitability and ~9% revenue growth, but margins are modest and below 2023 levels. Leverage increased materially (debt-to-equity ~0.81 vs ~0.32 in 2023), and free-cash-flow conversion has been uneven despite positive TTM FCF (~$41M), keeping overall financial quality moderate.

Income Statement

TTM (Trailing-Twelve-Months) results show a return to profitability with revenue up ~9% and positive operating profit and net income. However, profitability is modest (net margin ~3.1%, operating margin ~3.4%) and down materially versus 2023, highlighting margin compression and earnings volatility (losses in 2024 and 2022, strong profit in 2023). Overall: improving trajectory but still inconsistent through the cycle.

Balance Sheet

Leverage has increased meaningfully: debt-to-equity rose from ~0.32 (2023) to ~0.81 in TTM (Trailing-Twelve-Months), despite equity remaining relatively stable. Returns on equity are positive in TTM (~4.8%) but well below prior peak levels (2023 ~11.9%), suggesting higher balance-sheet risk without a commensurate improvement in profitability.

Cash Flow

Cash generation improved versus 2024: TTM (Trailing-Twelve-Months) operating cash flow is positive (~$104M) and free cash flow is positive (~$41M). That said, cash conversion is weaker than earnings quality would ideally indicate, with free cash flow low relative to net income (~0.05), and operating cash flow coverage remaining modest versus the company’s debt load; 2024 also showed negative free cash flow, underscoring volatility.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.27B	885.32M	925.27M	1.26B	1.14B	1.18B
Gross Profit	300.76M	243.84M	296.44M	364.70M	318.12M	322.54M
EBITDA	128.64M	85.07M	121.27M	147.78M	29.86M	-107.48M
Net Income	46.55M	-3.73M	87.19M	-29.99M	-79.11M	-234.17M
Balance Sheet
Total Assets	1.60B	1.63B	1.28B	1.55B	1.27B	1.53B
Cash, Cash Equivalents and Short-Term Investments	65.53M	375.24M	334.06M	263.99M	124.45M	214.51M
Total Debt	560.83M	640.37M	232.46M	270.27M	346.58M	505.55M
Total Liabilities	849.48M	908.38M	548.62M	849.44M	625.68M	808.90M
Stockholders Equity	753.81M	721.10M	730.16M	699.38M	639.27M	712.70M
Cash Flow
Free Cash Flow	41.15M	-59.05M	48.35M	161.02M	39.61M	20.42M
Operating Cash Flow	104.43M	51.35M	124.61M	211.10M	64.68M	44.44M
Investing Cash Flow	-437.88M	-154.99M	109.82M	19.50M	3.83M	106.57M
Financing Cash Flow	-101.53M	259.84M	-161.78M	-111.65M	-163.53M	-36.86M

Mattr Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 8.86
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:MATR, the sentiment is Positive. The current price of 8.86 is above the 20-day moving average (MA) of 8.61, above the 50-day MA of 8.48, and below the 200-day MA of 10.02, indicating a neutral trend. The MACD of -0.07 indicates Positive momentum. The RSI at 58.23 is Neutral, neither overbought nor oversold. The STOCH value of 37.24 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:MATR.

Mattr Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TOT	79 Outperform	C$740.05M	7.49	10.51%	2.57%	15.58%	47.55%
CEU	75 Outperform	C$3.83B	13.15	22.00%	1.29%	5.79%	-5.08%
TCW	75 Outperform	$1.45B	10.23	18.06%	3.57%	9.24%	6.35%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
CFW	65 Neutral	C$493.23M	15.42	3.06%	―	-8.13%	-28.00%
MATR	55 Neutral	C$543.57M	57.57	4.00%	―	27.14%	―
NOA	48 Neutral	$502.65M	16.74	9.34%	2.56%	8.24%	-36.88%

Mattr Corporate Events

Mattr’s AmerCable-Fueled Expansion Drives Strong 2025 Profit Turnaround

Mattr Corp. reported strong year-over-year growth for the fourth quarter and full year 2025, driven by its expanded exposure to North American wire and cable demand following the AmerCable acquisition and steady demand for Composite Technologies products. Revenue rose 50.4% in the fourth quarter to $312.5 million and 43.3% for the full year to $1.27 billion, while adjusted EBITDA nearly 1.5 times in the quarter and rose 43.1% for the year, with total net income swinging to a $46.6 million profit in 2025.

The company’s Connection Technologies and Composite Technologies segments both delivered higher operating income and improved margins, helping lift net income from continuing operations to $48.3 million and diluted EPS to $0.75 for 2025. Management cautioned that softer economic and cross-border trade conditions may pressure some end markets in 2026, but emphasized that Mattr’s differentiated technologies, rising manufacturing efficiency and disciplined capital allocation are expected to support stronger long-term sales, margins and cash generation, providing a constructive backdrop for shareholders despite near-term volatility.

The most recent analyst rating on (TSE:MATR) stock is a Hold with a C$10.50 price target. To see the full list of analyst forecasts on Mattr stock, see the TSE:MATR Stock Forecast page.