Materialise NV (MTLS) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 23, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 20-F for FY2024, filed Apr 22, 2025. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the MTLS SEC filings page.
Materialise NV (MTLS) reported $276.1M in revenue for fiscal year 2024, down 2.5% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 10 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Scored against operating companies for FY2024. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Materialise NV's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Materialise NV has an operating margin of 3.5%, meaning the company retains $4 of operating profit per $100 of revenue. This results in a moderate score of 37/100, indicating healthy but not exceptional operating efficiency. This is up from 2.2% the prior year.
Materialise NV's revenue declined 2.5% year-over-year, from $283.3M to $276.1M. This contraction results in a growth score of 52/100.
Materialise NV carries a low D/E ratio of 0.12, meaning only $0.12 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 80/100, indicating a strong balance sheet with room for future borrowing.
Materialise NV's current ratio of 1.86 indicates adequate short-term liquidity, earning a score of 55/100. The company can meet its near-term obligations, though with limited headroom.
While Materialise NV generated $32.6M in operating cash flow, capex of $25.5M consumed most of it, leaving $7.0M in free cash flow. This results in a low score of 36/100, reflecting heavy capital investment rather than weak cash generation.
Materialise NV's ROE of 5.4% shows moderate profitability relative to equity, earning a score of 36/100. This is up from 2.8% the prior year.
Materialise NV scores 3.03, well above the 2.99 safe threshold. The largest contribution to the score comes from a market capitalization of $494.8M against total liabilities of $152.9M. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Materialise NV passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, 1 of 2 operating efficiency signals passes.
For every $1 of reported earnings, Materialise NV generates $2.34 in operating cash flow ($32.6M OCF vs $13.9M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Materialise NV earns $7.26 in operating income for every $1 of interest expense ($9.8M vs $1.3M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Materialise NV generated $276.1M in revenue in fiscal year 2024. This represents a decrease of 2.5% from the prior year.
Materialise NV reported $13.9M in net income in fiscal year 2024. This represents an increase of 87.0% from the prior year.
Materialise NV earned $0.24 per diluted share (EPS) in fiscal year 2024. This represents an increase of 95.6% from the prior year.
Not reported for fiscal year 2024.
Cash & Balance Sheet
Materialise NV generated $7.0M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 41.7% from the prior year.
Materialise NV held $105.9M in cash against $32.0M in long-term debt as of fiscal year 2024.
Not reported for fiscal year 2024.
Margins & Returns
Materialise NV's gross margin was 56.5% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 0.1 percentage points from the prior year.
Materialise NV's operating margin was 3.5% in fiscal year 2024, reflecting core business profitability. This is up 1.4 percentage points from the prior year.
Materialise NV's net profit margin was 5.0% in fiscal year 2024, showing the share of revenue converted to profit. This is up 2.4 percentage points from the prior year.
Materialise NV's ROE was 5.4% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 2.6 percentage points from the prior year.
Capital Allocation
Materialise NV invested $46.0M in research and development in fiscal year 2024. This represents an increase of 9.1% from the prior year.
Materialise NV invested $25.5M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 149.8% from the prior year.
Not reported for fiscal year 2024.
MTLS Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F | FY1720-F | FY1620-F | FY1520-F |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $276.1M-2.5% | $283.3M+14.1% | $248.2M+6.7% | $232.5M+11.5% | $208.5M-5.6% | $220.8M+4.3% | $211.6M+23.5% | $171.4M+41.9% | $120.8M+9.0% | $110.8M |
| Cost of Revenue | $120.0M-2.3% | $122.8M+11.2% | $110.5M+11.8% | $98.8M+5.7% | $93.5M-4.3% | $97.7M+3.7% | $94.3M+24.6% | $75.7M+53.6% | $49.3Mn/m | -$46.7M |
| Gross Profit | $156.1M-2.8% | $160.5M+16.5% | $137.8M+3.0% | $133.7M+16.3% | $115.0M-6.6% | $123.1M+4.9% | $117.3M+22.6% | $95.7M+33.9% | $71.5M+11.5% | $64.1M |
| R&D Expenses | $46.0M+9.1% | $42.1M+4.9% | $40.2M+32.1% | $30.4M-8.2% | $33.1M+26.5% | $26.2M+2.1% | $25.7M+7.0% | $24.0M+28.6% | $18.7M-5.5% | -$19.7M |
| Operating Income | $9.8M+57.1% | $6.2Mn/m | -$3.1M-122.2% | $13.8Mn/m | -$5.7M-172.8% | $7.8M+31.6% | $5.9M+1155.3% | $471K+317.4% | $113Kn/m | -$4.2M |
| Interest Expense | $1.3M-30.6% | $1.9M-11.5% | $2.2M-20.5% | $2.8M-2.0% | $2.8M+16.7% | $2.4M+20.4% | $2.0M+62.3% | $1.2M+75.8% | $702Kn/m | -$668K |
| Income Tax | $759K+779.3% | $86K-91.7% | $1.0M+55.9% | $669Kn/m | -$1.3M-143.2% | $2.9M+498.4% | $487K-22.4% | $628K-65.2% | $1.8M+327.2% | $422K |
| Net Income | $13.9M+87.0% | $7.4Mn/m | -$2.3M-115.3% | $14.9Mn/m | -$8.6M-583.8% | $1.8M-48.7% | $3.5Mn/m | -$2.5Mn/m | -$3.2Mn/m | -$3.0M |
| EPS (Basic) | $0.24+95.6% | $0.12n/m | -$0.04-116.4% | $0.26n/m | -$0.16 | $0.03-51.6% | $0.07 | -$0.05n/m | -$0.06 | -$0.07 |
| EPS (Diluted) | $0.24+95.6% | $0.12n/m | -$0.04-116.4% | $0.26n/m | -$0.16 | $0.03-51.1% | $0.07 | -$0.05n/m | -$0.06 | -$0.07 |
| Diluted Shares (Avg) | 59M0.0% | 59M0.0% | 59M+3.9% | 57M+6.5% | 53M | 53,987+6.5% | 50,697 | 47,3250.0% | 47,325 | 47M |
Not reported in any period shown, so not listed: SG&A Expenses, EBITDA.
MTLS Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F | FY1720-F | FY1620-F | FY1520-F |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $410.2M-6.5% | $438.8M-0.3% | $440.0M-6.0% | $467.9M+17.4% | $398.6M+1.6% | $392.3M+9.3% | $358.8M+27.2% | $282.1M+65.1% | $170.9M+9.2% | $156.5M |
| Current Assets | $197.2M-13.7% | $228.4M-1.4% | $231.5M-20.7% | $291.8M+48.4% | $196.6M-8.4% | $214.6M+10.7% | $194.0M+65.6% | $117.2M+16.0% | $101.0M+10.8% | $91.2M |
| Cash & Equivalents | $105.9M-25.0% | $141.1M-6.4% | $150.7M-32.1% | $221.9M+62.6% | $136.4M-5.7% | $144.7M+9.4% | $132.3M+154.9% | $51.9M-12.0% | $59.0M+7.1% | $55.1M |
| Inventory | N/A | $18.8M+9.5% | $17.2M+34.6% | $12.8M+4.1% | $12.3M-13.8% | $14.3M+24.6% | $11.4M-13.7% | $13.3M+59.6% | $8.3M+42.0% | $5.8M |
| Goodwill | $44.9M-5.9% | $47.7M+1.1% | $47.2M+122.9% | $21.2M-6.8% | $22.7M+3.3% | $22.0M+9.9% | $20.0M-5.0% | $21.1M+125.7% | $9.3M-10.9% | $10.5M |
| Total Liabilities | $152.9M-13.6% | $177.0M-9.3% | $195.0M-4.7% | $204.7M-13.2% | $235.7M0.0% | $235.6M+16.1% | $203.0M+7.1% | $189.5M+116.7% | $87.5M+31.6% | $66.4M |
| Current Liabilities | $105.8M-8.9% | $116.1M+2.3% | $113.5M+9.7% | $103.5M+0.2% | $103.3M+9.5% | $94.4M+12.7% | $83.8M+11.0% | $75.4M+49.5% | $50.5M+21.2% | $41.7M |
| Non-Current Liabilities | $47.3M-22.4% | $60.9M-25.3% | $81.5M-19.4% | $101.2M-23.6% | $132.4M-3.8% | $137.6M+15.4% | $119.3M+4.6% | $114.1M+208.4% | $37.0M+49.2% | $24.8M |
| Long-Term Debt | $32.0M-30.4% | $45.9M-32.8% | $68.4M-25.6% | $92.0M-25.6% | $123.7M-3.8% | $128.6M+21.4% | $105.9M+7.7% | $98.3M+229.6% | $29.8M+65.4% | $18.0M |
| Total Equity | $257.3M-1.7% | $261.8M+6.9% | $244.9M-6.9% | $263.2M+61.6% | $162.9M+4.0% | $156.6M+0.5% | $155.8M+68.2% | $92.6M+11.1% | $83.4M-7.4% | $90.1M |
| Retained Earnings | $19.7M+219.5% | $6.2Mn/m | -$1.2M-213.4% | $1.1Mn/m | -$8.9Mn/m | -$305Kn/m | -$2.1Mn/m | -$4.8Mn/m | -$2.0M-254.9% | $1.3M |
Not reported in any period shown, so not listed: Short-Term Investments, Accounts Receivable, Long-Term Investments.
MTLS Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F | FY1720-F | FY1620-F | FY1520-F |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $32.6M+46.0% | $22.3M-6.5% | $23.8M-18.5% | $29.3M-20.2% | $36.7M+15.0% | $31.9M | N/A | N/A | N/A | N/A |
| Capital Expenditures | $25.5M+149.8% | $10.2M-55.8% | $23.1M+157.4% | $9.0M-33.4% | $13.5M-10.8% | $15.1M | N/A | N/A | N/A | N/A |
| Free Cash Flow | $7.0M-41.7% | $12.1M+1560.8% | $727K-96.4% | $20.3M-12.5% | $23.2M+38.2% | $16.8M | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$29.6Mn/m | -$12.2Mn/m | -$57.6Mn/m | -$14.9Mn/m | -$34.6Mn/m | -$28.8M | N/A | N/A | N/A | N/A |
| Financing Cash Flow | -$28.6Mn/m | -$24.7Mn/m | -$24.1M-129.9% | $80.5Mn/m | -$20.7M-270.6% | $12.1M | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Depreciation & Amortization, Stock-Based Compensation, Dividends Paid, Share Buybacks.
MTLS Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F | FY1720-F | FY1620-F | FY1520-F |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 56.5%-0.1pp | 56.7%+1.2pp | 55.5%-2.0pp | 57.5%+2.4pp | 55.1%-0.6pp | 55.7%+0.3pp | 55.5%-0.4pp | 55.9%-3.3pp | 59.2%+1.3pp | 57.9% |
| Operating Margin | 3.5%+1.4pp | 2.2%+3.4pp | -1.2%-7.2pp | 5.9%+8.7pp | -2.7%-6.3pp | 3.5%+0.7pp | 2.8%+2.5pp | 0.3%+0.2pp | 0.1%+3.9pp | -3.8% |
| Net Margin | 5.0%+2.4pp | 2.6%+3.5pp | -0.9%-7.3pp | 6.4%+10.5pp | -4.1%-4.9pp | 0.8%-0.8pp | 1.6%+3.1pp | -1.5%+1.2pp | -2.6%+0.1pp | -2.8% |
| Return on Equity | 5.4%+2.6pp | 2.8%+3.8pp | -0.9%-6.6pp | 5.7%+10.9pp | -5.3%-6.4pp | 1.1%-1.1pp | 2.2%+5.0pp | -2.8%+1.1pp | -3.8%-0.4pp | -3.4% |
| Return on Assets | 3.4%+1.7pp | 1.7%+2.2pp | -0.5%-3.7pp | 3.2%+5.3pp | -2.2%-2.6pp | 0.4%-0.5pp | 1.0%+1.9pp | -0.9%+1.0pp | -1.9%+0.1pp | -1.9% |
| Current Ratio | 1.86-0.1x | 1.97-0.1x | 2.04-0.8x | 2.82+0.9x | 1.90-0.4x | 2.270.0x | 2.32+0.8x | 1.55-0.4x | 2.00-0.2x | 2.19 |
| Debt-to-Equity | 0.12-0.1x | 0.18-0.1x | 0.28-0.1x | 0.35-0.4x | 0.76-0.1x | 0.82+0.1x | 0.68-0.4x | 1.06+0.7x | 0.36+0.2x | 0.20 |
| Liabilities-to-Equity | 0.59-0.1x | 0.68-0.1x | 0.800.0x | 0.78-0.7x | 1.45-0.1x | 1.50+0.2x | 1.30-0.7x | 2.05+1.0x | 1.05+0.3x | 0.74 |
| Asset Turnover | 0.670.0x | 0.65+0.1x | 0.56+0.1x | 0.500.0x | 0.520.0x | 0.560.0x | 0.590.0x | 0.61-0.1x | 0.710.0x | 0.71 |
| FCF Margin | 2.5%-1.7pp | 4.3%+4.0pp | 0.3%-8.4pp | 8.7%-2.4pp | 11.1%+3.5pp | 7.6% | N/A | N/A | N/A | N/A |
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Materialise NV MTLS | FY2024 | $276.1M | $13.9M | 5.0% | $494.8M | 49/100 |
| ReposiTrak, Inc. TRAK | FY2026 | $23.3M | $7.6M | 32.5% | $133.2M | 85/100 |
| 8x8, Inc. EGHT | FY2026 | $735.8M | $1.6M | 0.2% | $307.6M | 32/100 |
| Blaize Holdings, Inc. BZAI | FY2025 | $38.6M | -$206.9M | N/A | $34.7M | 37/100 |
| A2Z Cust2Mate Solutions Corp. AZ | FY2025 | $7.9M | -$37.7M | N/A | $246.5M | 41/100 |
| CS Disco, Inc. LAW | FY2025 | $156.8M | -$44.4M | -28.3% | $325.2M | 67/100 |
Where Materialise NV Ranks
Frequently Asked Questions
What is Materialise NV's annual revenue?
Materialise NV (MTLS) reported $276.1M in total revenue for fiscal year 2024. This represents a -2.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Materialise NV's revenue growing?
Materialise NV (MTLS) revenue declined by 2.5% year-over-year, from $283.3M to $276.1M in fiscal year 2024.
Is Materialise NV profitable?
Yes, Materialise NV (MTLS) reported a net income of $13.9M in fiscal year 2024, with a net profit margin of 5.0%.
How much debt does Materialise NV have?
As of fiscal year 2024, Materialise NV (MTLS) had $105.9M in cash and equivalents against $32.0M in long-term debt.
What is Materialise NV's gross margin?
Materialise NV (MTLS) had a gross margin of 56.5% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Materialise NV's operating margin?
Materialise NV (MTLS) had an operating margin of 3.5% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Materialise NV's net profit margin?
Materialise NV (MTLS) had a net profit margin of 5.0% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Materialise NV's return on equity (ROE)?
Materialise NV (MTLS) has a return on equity of 5.4% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Materialise NV's free cash flow?
Materialise NV (MTLS) generated $7.0M in free cash flow during fiscal year 2024. This represents a -41.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Materialise NV's operating cash flow?
Materialise NV (MTLS) generated $32.6M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Materialise NV's total assets?
Materialise NV (MTLS) had $410.2M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Materialise NV's capital expenditures?
Materialise NV (MTLS) invested $25.5M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Materialise NV spend on research and development?
Materialise NV (MTLS) invested $46.0M in research and development during fiscal year 2024.
What is Materialise NV's current ratio?
Materialise NV (MTLS) had a current ratio of 1.86 as of fiscal year 2024, which is generally considered healthy.
What is Materialise NV's debt-to-equity ratio?
Materialise NV (MTLS) had a debt-to-equity ratio of 0.12 as of fiscal year 2024. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
What is Materialise NV's liabilities-to-equity ratio?
Materialise NV (MTLS) had a liabilities-to-equity ratio of 0.59 as of fiscal year 2024, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
What is Materialise NV's return on assets (ROA)?
Materialise NV (MTLS) had a return on assets of 3.4% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Materialise NV's P/E ratio?
Materialise NV (MTLS) trades at 35.6x earnings, its market capitalization divided by $13.9M net income, FY2024. The market capitalization is $494.8M as of Oct 23, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Materialise NV's price-to-sales ratio?
Materialise NV (MTLS) trades at 1.8x sales, its market capitalization divided by $276.1M revenue, FY2024. The market capitalization is $494.8M as of Oct 23, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Materialise NV's Altman Z-Score?
Materialise NV (MTLS) has an Altman Z-Score of 3.03, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Materialise NV's Piotroski F-Score?
Materialise NV (MTLS) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Materialise NV's earnings high quality?
Materialise NV (MTLS) has an earnings quality ratio of 2.34x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Materialise NV cover its interest payments?
Materialise NV (MTLS) has an interest coverage ratio of 7.26x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Materialise NV?
Materialise NV (MTLS) scores 49 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is the average of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.