MTLS Technology

Materialise NV

$7.12-1.39%

Price as of close on Nov 3, 2026 · Financials updated Oct 1, 2026

Basics

Sector: Technology
Industry: Software - Application
Country: Belgium
Market cap: 410.7M USD
Enterprise value: 865.5M USD
Full-time employees: 2,556

Overall health

Drawback: less profitable than most peersless profitable than peers
Drawback: growing more slowly than most peersgrowing more slowly than peers
Drawback: its share price swings more than most peers’ (beta 1.36 vs a peer median of 0.87)bigger price swings (beta 1.36 vs peers 0.87)
About average: valuation and risk (debt, liquidity and share-price swings)valuation and risk

Ranks #1,232 of 1,612 technology companies (bottom 24%)

See how it ranks against its peers

Worth knowing

Financials may be out of date. Latest financial period ended 10 months ago.
The latest financial period we have ended 10 months ago, so the scores may not reflect recent results.
Profit is backed by cash. Free cash flow is 145% of reported profit.
Materialise's free cash flow is 145% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.

StockQuotient Score

36/ 100▲ 1 since Oct 27 close

Oct 5 35 → Nov 4 36 (+1)

Valuation

Is the price right?

41/100

Moderate▲ 4 since Oct 27 close

3/3 inputs reported · High confidence

Since last year: No major changeValuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 37 → 41

Share price -17.4%+4
Company's reported figures updated+1
Peer companies moved-1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Held back by:

▼ Earnings yield
▼ FCF yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield1.0%

SEC filings (IFRS mapped) · 12 months to Dec 2025 · EUR→USD at the current rateReported value30% base weight · Z-score -0.54Sector median: 0.0225 · MAD: 0.0225

EBITDA yield4.6%

SEC filings (IFRS mapped) · 12 months to Dec 2025 · EUR→USD at the current rateReported value50% base weight · Z-score 0.10Sector median: 0.0423 · MAD: 0.0361

Free cash flow yield1.5%

SEC filings (IFRS mapped) · 12 months to Dec 2025 · EUR→USD at the current rate · operating cash flow − capital spendingReported value20% base weight · Z-score -0.45Sector median: 0.0274 · MAD: 0.0274

Other data (not scored)

Book yield34.1%

SEC filings (IFRS mapped) · latest balance sheet · EUR→USD at the current rateReported valueInformational · 0% composite weightSector median: 0.3292 · MAD: 0.1754

Growth

Is it growing?

18/100

Weak

3/3 inputs reported · High confidence

Since last year: No major change

Why

Weaker than most peers on:

▼ EPS growth
▼ Revenue growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth-71.3%

SEC filings (IFRS mapped) · 12 months to Dec 2025Outlier capped at sector 5th/95th percentile33% base weight · Z-score -2.45Sector median: 0.1108 · MAD: 0.3050

3-year revenue growth4.9%

SEC filings (IFRS mapped) · 3 years to Dec 2025Reported value33% base weight · Z-score 0.01Sector median: 0.0483 · MAD: 0.0793

Revenue growth0.3%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score -0.81Sector median: 0.0853 · MAD: 0.1017

Profitability

Does it earn well?

37/100

Weak

3/3 inputs reported · High confidence

Since last year: No major change

Why

Weaker than most peers on:

▼ Operating margin

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin3.3%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score -0.42Sector median: 0.0631 · MAD: 0.0710

Return on assets1.8%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score -0.30Sector median: 0.0293 · MAD: 0.0362

Return on invested capital3.8%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score -0.34Sector median: 0.0676 · MAD: 0.0857

Other data (not scored)

Gross margin57.1%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported valueInformational · 0% composite weightSector median: 0.3343 · MAD: 0.1632

Return on equity3.0%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported valueInformational · 0% composite weightSector median: 0.0753 · MAD: 0.0889

Risk

Debt, liquidity, price swings

Moderate

Moderate relative risk

3/3 inputs reported · High confidence

Since last year: Changed: worth a look

Debt up 53%, still less than its cash

Why

Mixed versus peers:

▲ Current ratio
▼ Beta

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.36

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -1.33Sector median: 0.8710 · MAD: 0.3700

Current ratio2.43×

SEC filings (IFRS mapped) · latest balance sheetReported value33% base weight · Z-score 0.88Sector median: 1.8295 · MAD: 0.6848

Debt / equity0.25×

SEC filings (IFRS mapped) · latest balance sheetReported value33% base weight · Z-score 0.01Sector median: 0.2495 · MAD: 0.2270

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Materialise

Is Materialise getting weaker?: Its latest SEC filing (Apr 23, 2026) showed no major changes: debt up 53%, still less than its cash. Its overall score is 36/100, up 1 since Oct 28, 2026.
How is Materialise valued vs its peers?: Priced about in line with its peers. Valuation scores 41/100 against 1,711 technology peers. Earnings yield 1.0% vs a peer median of 2.2% (weaker than 64% of peers).Earnings yield 1.0% vs peers 2.2% (weaker than 64% of peers).
Is Materialise growing?: More slowly than most of its peers. Growth scores 18/100 against 1,711 technology peers. Earnings per share growth -71.3% vs a peer median of 11.1% (weaker than 100% of peers).Earnings per share growth -71.3% vs peers 11.1% (weaker than 100% of peers).
How profitable is Materialise?: Less profitable than most of its peers. Profitability scores 37/100 against 1,711 technology peers. Operating margin 3.3% vs a peer median of 6.3% (weaker than 64% of peers).Operating margin 3.3% vs peers 6.3% (weaker than 64% of peers).
How risky is Materialise?: Moderate risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Current ratio 2.43× vs a peer median of 1.83× (stronger than 67% of peers).Current ratio 2.43× vs peers 1.83× (stronger than 67% of peers). Beta 1.36 vs a peer median of 0.87 (weaker than 77% of peers).Beta 1.36 vs peers 0.87 (weaker than 77% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Year ended Dec 31, 2025 · filed Apr 23, 2026 · compared with the year ended Dec 31, 2024

No major changes

Debt up 53%, still less than its cash

	Previous year	Latest year	Change
Revenue (12 months)	266.8M EUR	267.6M EUR	+0.3%
Net income (12 months)	13.4M EUR	7.7M EUR	−42.6%
Operating margin	3.5%	3.3%	−0.2 pts
Free cash flow (12 months)	6.8M EUR	11.2M EUR	+64.9%
Debt	41.3M EUR	63.1M EUR	+52.9%
Cash	102.3M EUR	133.9M EUR	+30.9%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one year at a time.

Financials

Fiscal years from SEC annual filings · change vs the prior year · amounts in EUR, as reported

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	57.5%	55.5%	56.7%	56.5%	57.1%	▲ 0.6 pts
Operating margin	5.9%	-1.2%	2.2%	3.5%	3.3%	▼ 0.2 pts
Net margin	6.4%	-0.9%	2.6%	5.0%	2.9%	▼ 2.2 pts
Return on assets (ROA)	3.2%	-0.5%	1.7%	3.4%	1.8%	▼ 1.6 pts
Return on equity (ROE)	5.7%	-0.9%	2.8%	5.4%	3.0%	▼ 2.4 pts
Free cash flow margin	8.7%	0.3%	4.3%	2.6%	4.2%	▲ 1.6 pts
Current ratio	2.82×	2.04×	1.97×	1.86×	2.43×	▲ 31%
Quick ratio	2.70×	1.89×	1.80×	—	—	—
Debt to equity	0.43×	0.35×	0.27×	0.17×	0.25×	▲ 49%
Interest coverage	5.02×	-1.40×	3.21×	7.26×	5.22×	▼ 28%

MTLS price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Drawback: less profitable than most peersless profitable than peers

Drawback: growing more slowly than most peersgrowing more slowly than peers

Drawback: its share price swings more than most peers’ (beta 1.36 vs a peer median of 0.87)bigger price swings (beta 1.36 vs peers 0.87)

About average: valuation and risk (debt, liquidity and share-price swings)valuation and risk

Ranks #1,232 of 1,612 technology companies (bottom 24%)

See how it ranks against its peers

Worth knowing

Financials may be out of date. Latest financial period ended 10 months ago.

The latest financial period we have ended 10 months ago, so the scores may not reflect recent results.

Profit is backed by cash. Free cash flow is 145% of reported profit.

Materialise's free cash flow is 145% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.

Questions investors ask about Materialise

Is Materialise getting weaker?

Its latest SEC filing (Apr 23, 2026) showed no major changes: debt up 53%, still less than its cash. Its overall score is 36/100, up 1 since Oct 28, 2026.

How is Materialise valued vs its peers?

Priced about in line with its peers. Valuation scores 41/100 against 1,711 technology peers. Earnings yield 1.0% vs a peer median of 2.2% (weaker than 64% of peers).Earnings yield 1.0% vs peers 2.2% (weaker than 64% of peers).

Is Materialise growing?

More slowly than most of its peers. Growth scores 18/100 against 1,711 technology peers. Earnings per share growth -71.3% vs a peer median of 11.1% (weaker than 100% of peers).Earnings per share growth -71.3% vs peers 11.1% (weaker than 100% of peers).

How profitable is Materialise?

Less profitable than most of its peers. Profitability scores 37/100 against 1,711 technology peers. Operating margin 3.3% vs a peer median of 6.3% (weaker than 64% of peers).Operating margin 3.3% vs peers 6.3% (weaker than 64% of peers).

How risky is Materialise?

Moderate risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Current ratio 2.43× vs a peer median of 1.83× (stronger than 67% of peers).Current ratio 2.43× vs peers 1.83× (stronger than 67% of peers). Beta 1.36 vs a peer median of 0.87 (weaker than 77% of peers).Beta 1.36 vs peers 0.87 (weaker than 77% of peers). A relative measure, not a bankruptcy probability.

Previous year

Latest year

Change

Revenue (12 months)

266.8M EUR

267.6M EUR

+0.3%

Net income (12 months)

13.4M EUR

7.7M EUR

−42.6%

Operating margin

3.5%

3.3%

−0.2 pts

Free cash flow (12 months)

6.8M EUR

11.2M EUR

+64.9%

Debt

41.3M EUR

63.1M EUR

+52.9%

Cash

102.3M EUR

133.9M EUR

+30.9%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

57.5%

55.5%

56.7%

56.5%

57.1%

▲ 0.6 pts

Operating margin

5.9%

-1.2%

2.2%

3.5%

3.3%

▼ 0.2 pts

Net margin

6.4%

-0.9%

2.6%

5.0%

2.9%

▼ 2.2 pts

Return on assets (ROA)

3.2%

-0.5%

1.7%

3.4%

1.8%

▼ 1.6 pts

Return on equity (ROE)

5.7%

-0.9%

2.8%

5.4%

3.0%

▼ 2.4 pts

Free cash flow margin

8.7%

0.3%

4.3%

2.6%

4.2%

▲ 1.6 pts

Current ratio

2.82×

2.04×

1.97×

1.86×

2.43×

▲ 31%

Quick ratio

2.70×

1.89×

1.80×

—

Debt to equity

0.43×

0.35×

0.27×

0.17×

0.25×

▲ 49%

Interest coverage

5.02×

-1.40×

3.21×

7.26×

5.22×

▼ 28%