Matrix Service Company (MTRX) 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

+508.8%

$56.68

vs $9.31 price

Levered DCF

$100.60

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

1.77

Distress zone

Rating

B-

Overall 2 / 5

Ratios by fiscal year

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

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	-152.22×	-12.75×	-10.4×	-3.04×	-2.12×	-8.9×	-7.84×	19.6×
P/B	2.73×	2.63×	1.58×	0.88×	0.59×	0.97×	0.84×	1.56×
P/S	0.44×	0.49×	0.36×	0.2×	0.19×	0.41×	0.24×	0.39×
EV / EBITDA	26.87×	-9.31×	-12.93×	-3.77×	-3.08×	-9.24×	-12.28×	8.26×
Gross margin	7.3%	5.2%	5.6%	3.9%	-0.2%	4.9%	9.3%	9.3%
Operating margin	-1.1%	-4.6%	-4.1%	-6.7%	-12.4%	-6.5%	-3.3%	2.7%
Net margin	-0.3%	-3.8%	-3.4%	-6.6%	-9.0%	-4.6%	-3.0%	2.0%
Current ratio	0.98×	0.96×	1.14×	1.4×	1.62×	1.9×	1.9×	1.51×
Debt / equity	0.14×	0.15×	0.14×	0.19×	0.18×	0.09×	0.12×	0.02×
Interest coverage	-22.01×	-67.7×	-26.65×	-26.13×	-29.77×	-28.06×	-22.93×	29.17×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-1.8%	-20.6%	-15.2%	-28.9%	-28.1%	-10.9%	-10.7%	8.0%
Return on invested capital	-5.8%	-20.8%	-15.8%	-24.1%	-32.7%	-9.9%	-9.5%	7.7%
Return on assets	-0.4%	-4.9%	-5.5%	-13.1%	-14.5%	-6.7%	-6.4%	4.4%
Free cash flow yield	0.4%	29.3%	25.3%	0.8%	-42.5%	-2.6%	9.9%	4.0%
Earnings yield	-0.7%	-7.9%	-9.6%	-32.9%	-47.2%	-11.2%	-12.8%	5.1%
Enterprise value	$184.1M	$171.9M	$166.3M	$139.5M	$123.5M	$220.4M	$195.5M	$463.7M
Net debt / EBITDA	-29.7×	11×	7.21×	0.53×	0.29×	2.41×	3.97×	-1.5×
Cash conversion cycle (days)	38	50	57	55	76	59	50	51