Latest Ratios: P/E Ratio 69.1x · EV/EBITDA 31.0x · ROE 8.3%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $5.1B | $2.6B | $2.1B | $2.7B | $1.8B | $1.9B | $1.3B | $1.2B | $927M | $992M | $800M |
| Enterprise Value | $5.7B | $3.2B | $2.6B | $3.2B | $2.3B | $2.4B | $1.4B | $1.1B | $875M | $954M | $773M |
| P/E Ratio → | 69.05 | 34.73 | 353.14 | 28.41 | 21.14 | 26.27 | 84.96 | 22.95 | 44.54 | 86.79 | 31.18 |
| P/S Ratio | 2.88 | 1.46 | 1.23 | 1.63 | 1.03 | 1.26 | 1.12 | 1.04 | 0.77 | 0.87 | 0.83 |
| P/B Ratio | 5.48 | 2.76 | 2.38 | 3.07 | 2.27 | 2.64 | 2.00 | 1.90 | 1.67 | 2.00 | 1.62 |
| P/FCF | 102.92 | 52.03 | 295.24 | 110.90 | 47.37 | — | 38.86 | 16.89 | 22.02 | 25.62 | 26.56 |
| P/OCF | 49.81 | 25.18 | 23.56 | 18.84 | 15.67 | 21.08 | 12.99 | 12.38 | 12.14 | 14.63 | 11.92 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.78 | 1.53 | 1.92 | 1.31 | 1.60 | 1.19 | 0.96 | 0.72 | 0.84 | 0.80 |
| EV / EBITDA | 30.98 | 17.23 | 22.48 | 16.31 | 13.47 | 20.18 | 28.74 | 10.44 | 9.24 | 11.87 | 10.72 |
| EV / EBIT | 49.45 | 27.51 | 18.86 | 22.36 | 18.34 | 28.93 | 44.16 | 13.73 | 32.79 | 24.63 | 25.30 |
| EV / FCF | — | 63.79 | 366.63 | 130.47 | 60.20 | — | 41.52 | 15.69 | 20.77 | 24.64 | 25.66 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 16.7% | 16.7% | 19.3% | 21.0% | 19.6% | 18.8% | 16.4% | 22.2% | 20.8% | 18.7% | 19.0% |
| Operating Margin | 6.5% | 6.5% | 2.8% | 8.2% | 6.8% | 5.1% | 0.7% | 6.0% | 5.1% | 3.5% | 3.0% |
| Net Profit Margin | 4.2% | 4.2% | 0.3% | 5.7% | 4.9% | 4.8% | 1.3% | 4.5% | 1.7% | 1.0% | 2.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.3% | 8.3% | 0.7% | 11.4% | 11.3% | 10.5% | 2.4% | 8.9% | 4.0% | 2.3% | 5.3% |
| ROA | 4.3% | 4.3% | 0.3% | 5.5% | 5.2% | 5.4% | 1.6% | 6.3% | 2.6% | 1.5% | 3.5% |
| ROIC | 6.0% | 6.0% | 2.6% | 7.7% | 7.1% | 5.9% | 0.9% | 10.0% | 9.7% | 6.5% | 4.6% |
| ROCE | 7.7% | 7.7% | 3.2% | 9.2% | 8.4% | 6.6% | 1.0% | 9.8% | 9.3% | 6.1% | 4.5% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.64 | 0.64 | 0.60 | 0.56 | 0.63 | 0.73 | 0.18 | 0.06 | 0.03 | 0.01 | 0.01 |
| Debt / EBITDA | 3.25 | 3.25 | 4.52 | 2.52 | 2.95 | 4.38 | 2.37 | 0.34 | 0.19 | 0.04 | 0.06 |
| Net Debt / Equity | — | 0.62 | 0.58 | 0.54 | 0.61 | 0.71 | 0.14 | -0.14 | -0.09 | -0.08 | -0.05 |
| Net Debt / EBITDA | 3.18 | 3.18 | 4.38 | 2.45 | 2.87 | 4.26 | 1.84 | -0.80 | -0.55 | -0.48 | -0.38 |
| Debt / FCF | — | 11.75 | 71.38 | 19.58 | 12.82 | — | 2.66 | -1.20 | -1.25 | -0.99 | -0.90 |
| Interest Coverage | 4.19 | 4.19 | 3.92 | 4.57 | 5.75 | 17.00 | 8.19 | 52.59 | 10.80 | 17.74 | 17.09 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.11 | 3.11 | 3.19 | 2.78 | 2.89 | 3.07 | 3.66 | 4.39 | 3.14 | 3.23 | 3.82 |
| Quick Ratio | 1.29 | 1.29 | 1.25 | 1.05 | 1.12 | 1.30 | 1.68 | 2.46 | 1.61 | 1.50 | 1.60 |
| Cash Ratio | 0.05 | 0.05 | 0.07 | 0.05 | 0.05 | 0.07 | 0.20 | 1.02 | 0.51 | 0.33 | 0.35 |
| Asset Turnover | — | 0.99 | 0.99 | 0.94 | 1.04 | 0.94 | 1.11 | 1.32 | 1.51 | 1.44 | 1.31 |
| Inventory Turnover | 3.23 | 3.23 | 3.08 | 2.98 | 3.34 | 3.40 | 3.92 | 3.91 | 4.45 | 4.21 | 3.91 |
| Days Sales Outstanding | — | 45.54 | 41.99 | 42.25 | 44.71 | 54.01 | 51.65 | 47.65 | 39.45 | 39.73 | 37.97 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.2% | 0.4% | 0.5% | 0.4% | 0.6% | 0.5% | 0.7% | 0.7% | 0.9% | 0.8% | 0.9% |
| Payout Ratio | 15.4% | 15.4% | 188.3% | 11.1% | 11.8% | 13.4% | 59.9% | 16.6% | 40.2% | 69.1% | 29.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.4% | 2.9% | 0.3% | 3.5% | 4.7% | 3.8% | 1.2% | 4.4% | 2.2% | 1.2% | 3.2% |
| FCF Yield | 1.0% | 1.9% | 0.3% | 0.9% | 2.1% | — | 2.6% | 5.9% | 4.5% | 3.9% | 3.8% |
| Buyback Yield | 0.2% | 0.4% | 0.4% | 0.2% | 0.0% | 0.2% | 0.5% | 0.0% | 0.0% | 0.1% | 0.5% |
| Total Shareholder Yield | 0.4% | 0.8% | 0.9% | 0.6% | 0.6% | 0.7% | 1.2% | 0.7% | 1.0% | 0.9% | 1.4% |
| Shares Outstanding | — | $21M | $21M | $21M | $21M | $21M | $21M | $21M | $21M | $20M | $20M |
Working Capital Liquidity Volatility
Based on current market data, MTRN trades at a forward P/E of 44.72, which appears to price in significant growth expectations that may be disconnected from the company's recent 1.5% ROIC performance as reported in the most recent quarterly financial statements.
The elevated valuation multiples, including an EV/EBITDA of 35.46, suggest that investors are assigning a scarcity premium to the company's unique beryllium supply chain rather than its current earnings power. This pricing implies a high degree of confidence in future margin expansion, which warrants further investigation given the historical volatility in operating margins.
As reported in financial statements, MTRN's ROIC has hovered near 1.5% in 2026Q1, a figure that remains significantly below the cost of capital and suggests that the company's heavy investment in mining and refining infrastructure has yet to yield consistent compounding returns.
The persistent gap between invested capital and returns indicates that the company's asset-heavy business model faces structural headwinds in generating shareholder value. Investors should monitor whether the shift toward higher-value optics and aerospace components can eventually drive ROIC toward the double-digit levels seen in more efficient specialty materials peers.
According to recent quarterly filings, the cash conversion cycle has remained elevated at 102 days in 2026Q1, driven largely by a high days-inventory-outstanding metric of 94 days, which highlights the significant capital tied up in beryllium ore and specialized material stockpiles.
The extended inventory cycle suggests that the company must maintain substantial working capital to support its long-cycle defense and aerospace contracts. This reliance on inventory creates a structural drag on cash flow, making the company's liquidity position sensitive to sudden shifts in demand or supply chain disruptions.
Based on reported figures, MTRN maintains a disciplined debt-to-equity ratio of 0.59 as of 2026Q1, providing a stable balance sheet that appears well-positioned to manage interest obligations despite the current volatility in operating cash flow and earnings.
The company's moderate leverage profile serves as a critical buffer against the cyclicality inherent in its semiconductor and industrial materials segments. This financial discipline allows for continued investment in strategic initiatives, though the low interest coverage ratio of 4.27 suggests that any further earnings compression could limit future borrowing capacity.
Market participants frequently misapply standard mining valuation multiples to MTRN, which obscures the company's true role as a high-tech component enabler and ignores the significant switching costs associated with its specialized beryllium-based material science solutions.
By treating the company as a bulk commodity producer, analysts likely undervalue the intellectual property and regulatory barriers that protect its market position. A more appropriate framework would involve valuing the company as a specialty industrial or semiconductor materials provider, which would likely justify a higher multiple than the current peer group average.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying MTRN stock.
Materion Corporation's current P/E ratio is 69.1x. The historical average is 28.1x. This places it at the 92th percentile of its historical range.
Materion Corporation's current EV/EBITDA is 31.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.4x.
Materion Corporation's return on equity (ROE) is 8.3%. The historical average is 5.5%.
Based on historical data, Materion Corporation is trading at a P/E of 69.1x. This is at the 92th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Materion Corporation's current dividend yield is 0.22% with a payout ratio of 15.4%.
Materion Corporation has 16.7% gross margin and 6.5% operating margin.
Materion Corporation's Debt/EBITDA ratio is 3.2x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.