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Unless the context indicates otherwise, references to Mativ, the Company, we, us, our, or similar terms include Mativ Holdings, Inc. and our consolidated subsidiaries. GENERAL Background Mativ Holdings, Inc. is a global leader in specialty materials, solving our customers most complex challenges by engineering bold, innovative solutions that connect, protect, and purify our world.
The business is unprofitable at the operating level (-19.35% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue growth slowed to 0.3%, essentially flat. Margins also contracted 19.7pp. This is a business that needs a catalyst.
ROIC dropped from 0.24% to -16.90%, capital efficiency is deteriorating. Net debt of $1000M represents 10.7x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$1.98B
▲ +0.3% YoY
Net Income (TTM)
$76M
▼ -592.8% YoY
Op. Margin
2.70%
▼ -19.7pp YoY
ROIC
2.72%
▼ -17.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$116M
▲ +135.7% YoY
Op. Cash Flow (TTM)
$151M
▲ +41.1% YoY
Net Debt
$1.02B
Cash & Equiv.
$82M
5Y CAGR: +13.1%
5Y CAGR: -6.5%
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