Mativ Holdings, Inc. (MATV) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-299.7%

-$23.48

vs $11.76 price

Levered DCF

$37.69

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

1.39

Distress zone

Rating

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-1.96×	-12.11×	-2.69×	-116.11×	10.57×	15×	15.1×	8.11×
P/B	1.33×	0.69×	0.88×	0.75×	1.36×	1.91×	2.15×	1.37×
P/S	0.33×	0.3×	0.41×	0.54×	1×	1.15×	1.26×	0.73×
EV / EBITDA	-6.78×	11.83×	-6.95×	35.76×	20.16×	8.99×	9.07×	6.26×
Gross margin	15.1%	18.4%	17.6%	18.7%	19.7%	28.7%	28.4%	26.7%
Operating margin	2.4%	0.3%	-20.4%	-2.5%	-1.7%	12.0%	13.1%	13.0%
Net margin	-17.0%	-2.5%	-15.3%	-0.4%	9.6%	7.8%	8.4%	9.1%
Current ratio	2.24×	2.4×	2.53×	2.09×	2.57×	2.38×	2.71×	2.97×
Debt / equity	2.25×	1.34×	1.23×	1.48×	1.9×	0.91×	0.91×	1.12×
Interest coverage	0.67×	0.08×	-6.65×	-0.7×	-0.4×	4.22×	3.71×	4.79×
Dividend yield	3.4%	3.6%	6.6%	8.1%	6.0%	4.4%	4.2%	7.0%
Payout ratio	-6.6%	-44.4%	-17.9%	-1093.9%	62.2%	65.6%	63.4%	56.3%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-67.7%	-5.7%	-32.6%	-0.6%	13.0%	12.9%	14.4%	16.9%
Return on invested capital	1.9%	0.2%	-17.4%	-0.9%	0.0%	7.4%	8.6%	9.3%
Return on assets	-16.4%	-2.0%	-11.7%	-0.2%	3.7%	5.3%	5.8%	6.5%
Free cash flow yield	14.1%	6.6%	4.8%	16.1%	2.1%	10.3%	9.8%	14.3%
Earnings yield	-50.9%	-8.2%	-37.1%	-0.7%	9.6%	6.8%	6.7%	12.3%
Enterprise value	$1.7B	$1.7B	$1.9B	$2.5B	$2.1B	$1.8B	$1.7B	$1.3B
Net debt / EBITDA	-4.14×	7.58×	-3.87×	23.21×	11.46×	2.72×	2.32×	2.56×
Cash conversion cycle (days)	73	80	84	108	167	109	103	100