Matthews International Corporation

Worth knowing

• Returning more cash than it generates. Paid out $128M vs $4M of free cash flow over the 3 fiscal years to FY Sep 2025.

  Matthews International returned $128M to shareholders over three years, 3535% of the free cash flow it produced. That gap has to be covered by cash reserves or new debt, which can't last indefinitely.

• Stock pay outran buybacks. Stock-based pay expense $59M vs $36M spent repurchasing shares over the 3 fiscal years to FY Sep 2025.

  Over three fiscal years Matthews International recorded $59M of stock-based pay expense and spent $36M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). Repurchases were smaller than the stock pay, so they did little to offset new employee shares.Over three fiscal years Matthews International recorded $59M of stock-based pay expense and spent $36M repurchasing shares. Repurchases were smaller than the stock pay, so they did little to offset new employee shares.

• Valuation signals disagree. Cheaper than 70% of peers on operating cash profit (EBITDA), but only 0% on earnings.Cheaper than 70% of peers on operating cash profit, but only 0% on earnings.

  Relative to its operating cash profit (EBITDA), Matthews International looks cheaper than 70% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.Relative to its operating cash profit, Matthews International looks cheaper than 70% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.

• Not profitable yet. Reported a loss in the 12 months to June 2026.

  Matthews International reported a net loss over the last twelve months, so earnings-based measures can't show it as cheap.