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Matthews International

Nasdaq:MATW
Snowflake Description

Moderate growth potential second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MATW
Nasdaq
$684M
Market Cap
  1. Home
  2. US
  3. Commercial Services
Company description

Matthews International Corporation provides brand solutions, memorialization products, and industrial products worldwide. The last earnings update was 63 days ago. More info.


Add to Portfolio Compare Print
  • Matthews International has significant price volatility in the past 3 months.
MATW Share Price and Events
7 Day Returns
0.6%
NasdaqGS:MATW
-6.8%
US Commercial Services
-4.1%
US Market
1 Year Returns
-42.9%
NasdaqGS:MATW
-20.5%
US Commercial Services
-14.9%
US Market
MATW Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Matthews International (MATW) 0.6% -28.5% -43% -42.9% -66.6% -57.3%
US Commercial Services -6.8% -26.3% -28.5% -20.5% 4% 18.8%
US Market -4.1% -19.1% -23.4% -14.9% 3.5% 14.5%
1 Year Return vs Industry and Market
  • MATW underperformed the Commercial Services industry which returned -20.5% over the past year.
  • MATW underperformed the Market in United States of America which returned -14.9% over the past year.
Price Volatility
MATW
Industry
5yr Volatility vs Market

MATW Value

 Is Matthews International undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Matthews International to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Matthews International.

NasdaqGS:MATW Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.3%
Perpetual Growth Rate 10-Year US Government Bond Rate 1.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:MATW
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 1.7%
Equity Risk Premium S&P Global 5.4%
Commercial Services Unlevered Beta Simply Wall St/ S&P Global 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.594 (1 + (1- 21%) (152.88%))
1.209
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.21
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.74% + (1.209 * 5.44%)
8.32%

Discounted Cash Flow Calculation for NasdaqGS:MATW using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Matthews International is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

NasdaqGS:MATW DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 8.32%)
2020 81.88 Est @ -4.1% 75.59
2021 79.96 Est @ -2.35% 68.15
2022 79.06 Est @ -1.12% 62.21
2023 78.85 Est @ -0.26% 57.28
2024 79.12 Est @ 0.34% 53.06
2025 79.72 Est @ 0.76% 49.36
2026 80.56 Est @ 1.05% 46.05
2027 81.57 Est @ 1.26% 43.05
2028 82.72 Est @ 1.4% 40.30
2029 83.96 Est @ 1.5% 37.77
Present value of next 10 years cash flows $532.00
NasdaqGS:MATW DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $83.96 × (1 + 1.74%) ÷ (8.32% – 1.74%)
$1,298.72
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $1,298.72 ÷ (1 + 8.32%)10
$584.16
NasdaqGS:MATW Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $532.00 + $584.16
$1,116.16
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $1,116.16 / 31.29
$35.67
NasdaqGS:MATW Discount to Share Price
Calculation Result
Value per share (USD) From above. $35.67
Current discount Discount to share price of $21.85
= -1 x ($21.85 - $35.67) / $35.67
38.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Matthews International is available for.
Intrinsic value
39%
Share price is $21.85 vs Future cash flow value of $35.67
Current Discount Checks
For Matthews International to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Matthews International's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Matthews International's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Matthews International's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Matthews International's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:MATW PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $-1.65
NasdaqGS:MATW Share Price ** NasdaqGS (2020-04-02) in USD $21.85
United States of America Commercial Services Industry PE Ratio Median Figure of 53 Publicly-Listed Commercial Services Companies 19.23x
United States of America Market PE Ratio Median Figure of 2,944 Publicly-Listed Companies 12.5x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Matthews International.

NasdaqGS:MATW PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:MATW Share Price ÷ EPS (both in USD)

= 21.85 ÷ -1.65

-13.27x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Matthews International is loss making, we can't compare its value to the US Commercial Services industry average.
  • Matthews International is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Matthews International's expected growth come at a high price?
Raw Data
NasdaqGS:MATW PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -13.27x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
87.5%per year
United States of America Commercial Services Industry PEG Ratio Median Figure of 35 Publicly-Listed Commercial Services Companies 1.21x
United States of America Market PEG Ratio Median Figure of 2,008 Publicly-Listed Companies 0.91x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Matthews International, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Matthews International's assets?
Raw Data
NasdaqGS:MATW PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $22.83
NasdaqGS:MATW Share Price * NasdaqGS (2020-04-02) in USD $21.85
United States of America Commercial Services Industry PB Ratio Median Figure of 86 Publicly-Listed Commercial Services Companies 1.14x
United States of America Market PB Ratio Median Figure of 5,142 Publicly-Listed Companies 1.22x
NasdaqGS:MATW PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:MATW Share Price ÷ Book Value per Share (both in USD)

= 21.85 ÷ 22.83

0.96x

* Primary Listing of Matthews International.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Matthews International is good value based on assets compared to the US Commercial Services industry average.
X
Value checks
We assess Matthews International's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Commercial Services industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Commercial Services industry average (and greater than 0)? (1 check)
  5. Matthews International has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

MATW Future Performance

 How is Matthews International expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
87.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Matthews International expected to grow at an attractive rate?
  • Matthews International's earnings growth is expected to exceed the low risk savings rate of 1.7%.
Growth vs Market Checks
  • Matthews International's earnings growth is expected to exceed the United States of America market average.
  • Matthews International's revenues are expected to decrease over the next 1-3 years, this is below the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:MATW Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:MATW Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 87.5%
NasdaqGS:MATW Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts -0.3%
United States of America Commercial Services Industry Earnings Growth Rate Market Cap Weighted Average 13.6%
United States of America Commercial Services Industry Revenue Growth Rate Market Cap Weighted Average 3.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 12.2%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:MATW Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:MATW Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-09-30 1,495 46 1
2021-09-30 1,531 163 41 2
2020-09-30 1,507 124 12 2
2020-04-03
NasdaqGS:MATW Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 1,528 128 -52
2019-09-30 1,537 131 -38
2019-06-30 1,552 154 63
2019-03-31 1,585 137 73
2018-12-31 1,607 148 75
2018-09-30 1,603 148 107
2018-06-30 1,591 136 97
2018-03-31 1,569 161 102
2017-12-31 1,536 141 99
2017-09-30 1,516 149 74
2017-06-30 1,497 138 79
2017-03-31 1,489 133 73

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Matthews International's earnings are expected to grow significantly at over 20% yearly.
  • Matthews International's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:MATW Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Matthews International Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:MATW Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-09-30 1.53 1.53 1.53 1.00
2021-09-30 1.33 1.55 1.11 2.00
2020-09-30 0.38 0.54 0.22 2.00
2020-04-03
NasdaqGS:MATW Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 -1.65
2019-09-30 -1.21
2019-06-30 1.99
2019-03-31 2.30
2018-12-31 2.38
2018-09-30 3.39
2018-06-30 3.06
2018-03-31 3.21
2017-12-31 3.09
2017-09-30 2.31
2017-06-30 2.44
2017-03-31 2.26

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Matthews International will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Matthews International's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Matthews International has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

MATW Past Performance

  How has Matthews International performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Matthews International's growth in the last year to its industry (Commercial Services).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Matthews International does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Matthews International's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Matthews International's 1-year growth to the US Commercial Services industry average as it is not currently profitable.
Earnings and Revenue History
Matthews International's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Matthews International Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:MATW Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 1,528.04 -51.55 414.53
2019-09-30 1,537.28 -37.99 412.64
2019-06-30 1,552.32 62.74 399.38
2019-03-31 1,584.64 72.52 406.87
2018-12-31 1,607.30 75.29 416.03
2018-09-30 1,602.58 107.37 419.83
2018-06-30 1,591.20 97.42 443.14
2018-03-31 1,569.21 102.49 437.70
2017-12-31 1,536.06 99.23 434.68
2017-09-30 1,515.61 74.37 431.87
2017-06-30 1,496.54 78.59 440.33
2017-03-31 1,488.97 73.02 439.91
2016-12-31 1,475.23 72.46 433.31
2016-09-30 1,480.46 66.75 416.82
2016-06-30 1,471.81 59.86 441.64
2016-03-31 1,454.50 59.08 435.34
2015-12-31 1,436.72 53.70 427.91
2015-09-30 1,426.07 63.44 424.35
2015-06-30 1,407.56 51.28 406.53
2015-03-31 1,322.79 46.66 378.60
2014-12-31 1,220.24 48.99 347.37
2014-09-30 1,106.60 42.50 310.97
2014-06-30 1,009.47 51.23 271.79
2014-03-31 980.14 51.28 263.29
2013-12-31 989.69 54.02 261.23
2013-09-30 985.36 53.54 261.90
2013-06-30 962.73 52.79 249.06

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Matthews International has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Matthews International has efficiently used its assets last year compared to the US Commercial Services industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Matthews International improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Matthews International's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Commercial Services industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Matthews International has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

MATW Health

 How is Matthews International's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Matthews International's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Matthews International is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Matthews International's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Matthews International's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Matthews International Company Filings, last reported 3 months ago.

NasdaqGS:MATW Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 715.71 964.25 39.86
2019-09-30 719.24 938.45 35.85
2019-06-30 848.43 975.88 34.42
2019-03-31 847.46 970.81 40.54
2018-12-31 844.02 977.48 42.69
2018-09-30 868.71 956.03 45.44
2018-06-30 833.18 1,026.42 57.20
2018-03-31 852.08 1,046.32 67.87
2017-12-31 830.63 1,025.65 62.07
2017-09-30 790.26 911.16 58.61
2017-06-30 762.00 942.05 57.70
2017-03-31 704.32 947.39 44.68
2016-12-31 688.38 938.17 107.24
2016-09-30 709.33 878.58 55.75
2016-06-30 695.39 927.72 74.48
2016-03-31 744.15 894.07 59.36
2015-12-31 719.73 915.07 65.13
2015-09-30 734.05 906.64 72.20
2015-06-30 751.52 689.84 69.88
2015-03-31 728.71 699.49 63.08
2014-12-31 765.35 721.85 69.58
2014-09-30 775.21 731.38 63.33
2014-06-30 589.71 371.24 80.90
2014-03-31 571.22 381.04 62.06
2013-12-31 561.45 381.14 63.47
2013-09-30 546.29 379.30 48.51
2013-06-30 510.12 382.01 54.86
  • Matthews International's level of debt (134.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (94.3% vs 134.7% today).
  • Debt is not well covered by operating cash flow (13.3%, less than 20% of total debt).
  • Matthews International is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess Matthews International's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Matthews International has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

MATW Dividends

 What is Matthews International's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.84%
Current annual income from Matthews International dividends.
If you bought $2,000 of Matthews International shares you are expected to receive $77 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Matthews International's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (2.04%).
  • Matthews International's dividend is below the markets top 25% of dividend payers in United States of America (5.7%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:MATW Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
United States of America Commercial Services Industry Average Dividend Yield Market Cap Weighted Average of 42 Stocks 2.2%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1941 Stocks 3.1%
United States of America Minimum Threshold Dividend Yield 10th Percentile 1.1%
United States of America Bottom 25% Dividend Yield 25th Percentile 2%
United States of America Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:MATW Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-09-30
2021-09-30
2020-09-30
2020-04-03
NasdaqGS:MATW Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-01-23 0.840 2.972
2019-11-13 0.840 2.237
2019-07-25 0.800 2.374
2019-04-25 0.800 2.265
2019-01-24 0.800 2.036
2018-11-15 0.800 1.919
2018-07-19 0.760 1.566
2018-04-19 0.760 1.381
2018-01-25 0.760 1.449
2017-11-16 0.760 1.409
2017-07-20 0.680 1.100
2017-04-20 0.680 1.045
2017-01-26 0.680 1.017
2016-11-17 0.680 0.914
2016-07-21 0.600 0.986
2016-04-21 0.600 1.107
2016-01-21 0.600 1.223
2015-11-12 0.600 1.099
2015-07-23 0.520 0.985
2015-04-23 0.520 1.008
2015-01-22 0.520 1.058
2014-11-26 0.520 1.106
2014-11-13 0.520 1.108
2014-07-17 0.440 0.985
2014-04-21 0.440 1.077
2014-01-23 0.440 1.070
2013-11-14 0.440 1.051
2013-07-19 0.400 1.025
2013-04-19 0.400 1.055
2013-01-18 0.400 1.196
2012-11-15 0.400 1.271
2012-07-19 0.360 1.215
2012-04-19 0.360 1.173
2012-01-26 0.360 1.133
2011-10-20 0.360 1.105
2011-07-21 0.320 0.990
2011-04-25 0.320 0.837
2011-01-20 0.320 0.870
2010-10-14 0.320 0.945
2010-07-22 0.280 0.826
2010-04-22 0.280 0.882
2010-01-21 0.280 0.814
2009-10-22 0.280 0.789
2009-07-23 0.260 0.744
2009-04-23 0.260 0.867

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Matthews International's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Matthews International's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Matthews International afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Matthews International has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

MATW Management

 What is the CEO of Matthews International's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Joseph Bartolacci
COMPENSATION $6,919,529
AGE 59
TENURE AS CEO 13.5 years
CEO Bio

Mr. Joseph C. Bartolacci has been the Chief Executive Officer and President of Matthews International Corporation since October 1, 2006 and September 1, 2005 respectively. Mr. Bartolacci served as Principal Executive Officer, President and Manager of Schawk Inc. since July 29, 2014. Mr. Bartolacci served as the President of York Casket Development Company, Inc. He served as the Chief Operating Officer of Matthews International Corporation since September 1, 2005 and served as its President of Matthews Europe since 2002, President of York Casket Division since February 2004, Executive Vice President since January 1, 2004 and Office of the Chairman. Mr. Bartolacci joined Matthews in 1997 as General Counsel. He served as the President of Caggiati, S.p.A., its wholly-owned subsidiary in Parma, Italy since 1999. In 2000, he assumed responsibility for Matthews' European graphics operations. He has been an Independent Director of Federated Investors, Inc. since October 2016. He has been a Director of Matthews International Corporation since November 15, 2005. He serves as Director of St. Vincent College. Mr. Bartolacci holds Bachelor of Science in Accounting from St. Vincent College in Latrobe, PA and Juris Doctorate degree from the University of Pittsburgh School of Law.

CEO Compensation
  • Joseph's compensation has increased whilst company is loss making.
  • Joseph's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Matthews International management team in years:

8.5
Average Tenure
59
Average Age
  • The average tenure for the Matthews International management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Joseph Bartolacci

TITLE
CEO, President & Director
COMPENSATION
$7M
AGE
59
TENURE
13.5 yrs

Steven Nicola

TITLE
CFO & Corporate Secretary
COMPENSATION
$3M
AGE
59
TENURE
16.3 yrs

Brian Walters

TITLE
Senior VP & General Counsel
COMPENSATION
$1M
AGE
50
TENURE
11.2 yrs

Brian Dunn

TITLE
Executive Vice President of Strategy & Corporate Development
COMPENSATION
$2M
AGE
62
TENURE
5.8 yrs

Steven Gackenbach

TITLE
Group President of Memorialization
COMPENSATION
$1M
AGE
56
TENURE
8.5 yrs

Greg Babe

TITLE
CTO & Director
COMPENSATION
$1M
AGE
61
TENURE
4.4 yrs

Davor Brkovich

TITLE
Chief Information Officer

William Wilson

TITLE
Senior Director of Corporate Development & Investor Relations

Marcy Campbell

TITLE
Senior Vice President of Human Resources
AGE
56
TENURE
5.4 yrs

Ed Brady

TITLE
Head of Global Business Services
AGE
60
Board of Directors Tenure

Average tenure and age of the Matthews International board of directors in years:

9.1
Average Tenure
62
Average Age
  • The tenure for the Matthews International board of directors is about average.
Board of Directors

John Turner

TITLE
Independent Chairman of the Board
COMPENSATION
$310K
AGE
73
TENURE
10.2 yrs

Joseph Bartolacci

TITLE
CEO, President & Director
COMPENSATION
$7M
AGE
59
TENURE
14.4 yrs

Greg Babe

TITLE
CTO & Director
COMPENSATION
$1M
AGE
61
TENURE
9.4 yrs

Wendy Dietze

TITLE
Independent Director
COMPENSATION
$220K
AGE
61
TENURE
11.8 yrs

Alvaro Garcia-Tunon

TITLE
Independent Director
COMPENSATION
$225K
AGE
67
TENURE
10.5 yrs

Morgan O'Brien

TITLE
Independent Director
COMPENSATION
$220K
AGE
59
TENURE
8.8 yrs

Jerry Whitaker

TITLE
Independent Director
COMPENSATION
$220K
AGE
68
TENURE
8.8 yrs

David Schawk

TITLE
Director
COMPENSATION
$1M
AGE
63
TENURE
5.8 yrs

Terry Dunlap

TITLE
Independent Director
COMPENSATION
$210K
AGE
60
TENURE
5.2 yrs

Don Quigley

TITLE
Independent Director
COMPENSATION
$210K
AGE
63
TENURE
4.6 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Matthews International individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
16. Mar 20 Buy Edward Brady Individual 12. Mar 20 12. Mar 20 2,000 $24.00 $48,000
02. Mar 20 Buy David Schawk Individual 28. Feb 20 28. Feb 20 1,000 $29.32 $29,320
02. Mar 20 Buy Alvaro Garcia-Tunon Individual 28. Feb 20 28. Feb 20 2,500 $29.00 $72,500
X
Management checks
We assess Matthews International's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Matthews International has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

MATW News

Simply Wall St News

Do Institutions Own Matthews International Corporation (NASDAQ:MATW) Shares?

With a market capitalization of US$928m, Matthews International is a decent size, so it is probably on the radar of institutional investors. … See our latest analysis for Matthews International NasdaqGS:MATW Ownership Summary, August 29th 2019 What Does The Institutional Ownership Tell Us About Matthews International? … As you can see, institutional investors own 85% of Matthews International.

Simply Wall St -

Does Matthews International Corporation's (NASDAQ:MATW) CEO Pay Compare Well With Peers?

According to our data, Matthews International Corporation has a market capitalization of US$977m, and pays its CEO total annual compensation worth US$6.6m. … Given the total loss of 47% over three years, many shareholders in Matthews International Corporation are probably rather dissatisfied, to say the least. … We compared the total CEO remuneration paid by Matthews International Corporation, and compared it to remuneration at a group of similar sized companies.

Simply Wall St -

Here's How P/E Ratios Can Help Us Understand Matthews International Corporation (NASDAQ:MATW)

Check out our latest analysis for Matthews International How Do I Calculate A Price To Earnings Ratio? … The formula for price to earnings is: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for Matthews International: P/E of 16.28 = $32.41 ÷ $1.99 (Based on the year to June 2019.) Is A High Price-to-Earnings Ratio Good? … How Does Matthews International's P/E Ratio Compare To Its Peers?

Simply Wall St -

Matthews International Corporation (NASDAQ:MATW) Looks Like A Good Stock, And It's Going Ex-Dividend Soon

So we need to check whether the dividend payments are covered, and if earnings are growing. … It's positive to see that Matthews International's dividend is covered by both profits and cash flow, since this is generally a sign that the dividend is sustainable, and a lower payout ratio usually suggests a greater margin of safety before the dividend gets cut. … Earnings per share have been growing moderately, and Matthews International is paying out less than half its earnings and cash flow as dividends, which is an attractive combination as it suggests the company is investing in growth.

Simply Wall St -

Why We’re Not Impressed By Matthews International Corporation’s (NASDAQ:MATW) 6.2% ROCE

The formula for calculating the return on capital employed is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Matthews International: 0.062 = US$127m ÷ (US$2.3b - US$308m) (Based on the trailing twelve months to March 2019.) Therefore, Matthews International has an ROCE of 6.2%. … Do Matthews International's Current Liabilities Skew Its ROCE? … Due to the way ROCE is calculated, a high level of current liabilities makes a company look as though it has less capital employed, and thus can (sometimes unfairly) boost the ROCE.

Simply Wall St -

Is Matthews International (NASDAQ:MATW) Using Too Much Debt?

We can see that Matthews International Corporation (NASDAQ:MATW) does use debt in its business. … NasdaqGS:MATW Historical Debt, July 17th 2019 A Look At Matthews International's Liabilities We can see from the most recent balance sheet that Matthews International had liabilities of US$307.6m falling due within a year, and liabilities of US$1.18b due beyond that. … Either way, since Matthews International does have more debt than cash, it's worth keeping an eye on its balance sheet.

Simply Wall St -

Imagine Owning Matthews International (NASDAQ:MATW) And Wondering If The 42% Share Price Slide Is Justified

For example, the Matthews International Corporation (NASDAQ:MATW) share price is down 42% in the last year. … We've already covered Matthews International's share price action, but we should also mention its total shareholder return (TSR). … A Different Perspective Investors in Matthews International had a tough year, with a total loss of 41% (including dividends), against a market gain of about 7.2%.

Simply Wall St -

Is Matthews International Corporation (NASDAQ:MATW) Undervalued After Accounting For Its Future Growth?

However, seeing as Matthews International is perceived as a high-growth stock, we must also account for its earnings growth, which is captured in the PEG ratio. … A PE ratio of 14.72x and expected year-on-year earnings growth of 17% give Matthews International a low PEG ratio of 0.87x. … This tells us that when we include its growth in our analysis Matthews International's stock can be considered fairly valued , based on fundamental analysis.

Simply Wall St -

Is Now The Time To Look At Buying Matthews International Corporation (NASDAQ:MATW)?

Let’s take a look at Matthews International’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change. … This is because Matthews International’s beta (a measure of share price volatility) is high, meaning its price movements will be exaggerated relative to the rest of the market. … Its buoyant future outlook isn’t fully reflected in the current share price yet, which means it’s not too late to buy MATW.

Simply Wall St -

A Closer Look At Matthews International Corporation's (NASDAQ:MATW) Uninspiring ROE

The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Matthews International: 8.5% = US$73m ÷ US$847m (Based on the trailing twelve months to March 2019.) Most know that net profit is the total earnings after all expenses, but the concept of shareholders' equity is a little more complicated. … A company that can achieve a high return on equity without debt could be considered a high quality business. … If you would prefer check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.

Simply Wall St -

MATW Company Info

Description

Matthews International Corporation provides brand solutions, memorialization products, and industrial products worldwide. The company’s SGK Brand Solutions segment provides brand development and graphic design services, such as visual intellectual properties, packaging, and content creation; brand deployment and activation services, including design and production of merchandising exhibits and shopper experiences in digital and printed media channels; and consulting services to brand owners on workflow best practices, management and technologies, printing quality, measurement, and consistency. This segment also produces digital packaging artwork files, and pre-media graphics services for print and digital channels, as well as image carriers comprising printing plates and gravure cylinders; and develops digital tools. Its Memorialization segment manufactures and markets a range of memorialization products for use in cemeteries, funeral homes, and crematories. This segment offers cast bronze memorials, flush bronze and granite memorials, upright granite memorials and monuments, cremation memorialization products, granite benches, flower vases, crypt plates and letters, cremation urns, niche units, cemetery features and statues, caskets, community and family mausoleums, bronze plaques, letters, emblems, vases, lights, and photo ceramics, as well as architectural products to identify or commemorate people, places, events, and accomplishments. The company’s Industrial Technologies segment designs, manufactures, and distributes marking and coding equipment and consumables, industrial automation products, and order fulfillment systems for identifying, tracking, picking, and conveying consumer and industrial products. This segment serves manufacturers, suppliers, and distributors of durable goods and building products; consumer goods manufacturers; and pharmaceutical producers. Matthews International Corporation was founded in 1850 and is based in Pittsburgh, Pennsylvania.

Details
Name: Matthews International Corporation
MATW
Exchange: NasdaqGS
Founded: 1850
$683,688,575
31,290,095
Website: http://www.matw.com
Address: Matthews International Corporation
Two NorthShore Center,
Pittsburgh,
Pennsylvania, 15212,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS MATW Class A Common Stock Nasdaq Global Select US USD 20. Jul 1994
DB MW1A Class A Common Stock Deutsche Boerse AG DE EUR 20. Jul 1994
Number of employees
Current staff
Staff numbers
11,000
Matthews International employees.
Industry
Diversified Support Services
Commercial Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/03 04:35
End of day share price update: 2020/04/02 00:00
Last estimates confirmation: 2020/03/31
Last earnings filing: 2020/01/31
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/09/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.