Matthews International Corporation (MATW) Income Statement
MATW FY2025 at a glance
Fiscal year ended September 30, 2025 · U.S. dollarsMATW revenue and net income
Where MATW's revenue goes
FY2025Each bar shows an amount and its share of revenue. MATW kept −1.6% of revenue as net income.
MATW profit margins
MATW growth rates
to FY2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −16.6% | −5.3% | −0.0% | +0.5% |
| Gross profit | −4.2% | −0.9% | +0.4% | −0.4% |
| Operating income | +361.3% | −19.2% | — | −15.2% |
| Net income | — | — | — | — |
| EPS (diluted) | −41.9% | −24.1% | −16.0% | −7.8% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
MATW quarterly EPS vs estimates
Matthews International beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: November 19, 2026 (estimate $0.28).
MATW income statement
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.50B | $1.80B | $1.88B | $1.76B | $1.67B | $1.50B | $1.54B | $1.60B | $1.52B | $1.48B |
| Cost of revenue | $990.1M | $1.27B | $1.30B | $1.24B | $1.13B | $1.00B | $994.8M | $1.02B | $952.2M | $924.0M |
| Gross profit | $507.6M | $529.7M | $577.7M | $522.3M | $541.8M | $497.8M | $542.5M | $584.2M | $563.4M | $556.5M |
| Research & development | $16.7M | $16.0M | $15.6M | $15.5M | $13.2M | $22.3M | $26.2M | $25.0M | $16.4M | $14.8M |
| Sales, general & admin | $467.2M | $488.3M | $447.5M | $426.7M | $415.6M | $400.0M | $408.8M | $414.1M | $306.6M | $296.7M |
| Total operating expenses | $487.3M | $525.3M | $489.6M | $483.8M | $499.8M | $562.0M | $532.2M | $445.7M | $450.8M | $437.6M |
| Operating income | $20.3M | $4.4M | $88.1M | $38.5M | $42.0M | −$64.2M | $10.3M | $138.6M | $112.6M | $118.8M |
| Interest income | — | — | — | — | — | — | $39.5M | $35.9M | $23.9M | $22.3M |
| Interest expense | $62.9M | $50.5M | $44.6M | $27.7M | $28.7M | $34.9M | $41.0M | $37.4M | $26.4M | $24.3M |
| Income before taxes | $16.2M | −$69.7M | $40.9M | −$104.2M | $9.2M | −$106.3M | −$38.1M | $98.0M | $96.3M | $95.2M |
| Income taxes | $40.7M | −$10.0M | $1.8M | −$4.4M | $6.4M | −$18.7M | $806,000 | −$9.1M | $22.4M | $29.1M |
| Net income | −$24.5M | −$59.7M | $39.3M | −$99.8M | $2.9M | −$87.2M | −$38.0M | $107.4M | $74.4M | $66.7M |
| EBITDA | $150.8M | $75.6M | $182.1M | $27.6M | $171.4M | $47.6M | $93.7M | $212.4M | $180.6M | $184.3M |
| EPS (diluted) | $1.26 | $2.17 | $2.88 | $2.88 | $3.28 | $3.01 | $3.31 | $3.96 | $3.57 | $3.40 |
| Gross margin | 33.9% | 29.5% | 30.7% | 29.6% | 32.4% | 33.2% | 35.3% | 36.5% | 37.2% | 37.6% |
| Operating margin | 1.4% | 0.2% | 4.7% | 2.2% | 2.5% | −4.3% | 0.7% | 8.6% | 7.4% | 8.0% |
| Net margin | −1.6% | −3.3% | 2.1% | −5.7% | 0.2% | −5.8% | −2.5% | 6.7% | 4.9% | 4.5% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $246.0M | $258.6M | $284.8M | $318.8M | $349.4M | $427.6M | $401.8M | $446.7M | $427.8M | $471.2M | $450.0M | $480.2M |
| Cost of revenue | $157.8M | $156.6M | $185.1M | $203.0M | $227.4M | $283.5M | $276.1M | $329.4M | $296.0M | $323.0M | $317.6M | $329.4M |
| Gross profit | $88.2M | $102.0M | $99.7M | $115.8M | $122.0M | $144.1M | $125.7M | $117.3M | $131.8M | $148.2M | $132.4M | $150.8M |
| Research & development | — | — | — | $16.7M | — | — | — | $16.0M | — | — | — | $15.6M |
| Sales, general & admin | $99.1M | $98.5M | $112.4M | $91.5M | $100.4M | $131.8M | $111.4M | $141.2M | $116.1M | $117.9M | $113.1M | $78.1M |
| Total operating expenses | $101.4M | $101.2M | $115.4M | $125.2M | $103.9M | $136.1M | $120.0M | $167.1M | $125.1M | $126.9M | $122.9M | $124.5M |
| Operating income | −$13.2M | $770,000 | −$15.7M | −$9.4M | $18.1M | $8.0M | $5.7M | −$49.8M | $6.7M | $21.3M | $9.4M | $26.3M |
| Interest expense | $10.4M | $8.5M | $14.6M | $15.5M | $15.8M | $15.9M | $15.7M | $13.6M | $12.8M | $12.5M | $11.6M | $11.5M |
| Income before taxes | −$23.6M | −$28.1M | $84.4M | −$25.2M | $58.9M | −$11.6M | −$5.8M | −$67.5M | −$7.1M | $7.9M | −$3.0M | $15.3M |
| Income taxes | $46,000 | −$6.2M | $40.8M | $2.3M | $43.5M | −$2.7M | −$2.4M | $680,000 | −$8.8M | −$1.1M | −$726,000 | −$2.4M |
| Net income | −$23.7M | −$21.8M | $43.6M | −$27.5M | $15.4M | −$8.9M | −$3.5M | −$68.2M | $1.8M | $9.0M | −$2.3M | $17.7M |
| EBITDA | −$1.6M | −$6.5M | $111.7M | $5.5M | $90.5M | $22.5M | $32.4M | −$29.5M | $29.4M | $43.7M | $32.1M | $51.5M |
| EPS (diluted) | $0.06 | $0.37 | −$0.19 | $0.50 | $0.28 | $0.34 | $0.14 | $0.55 | $0.56 | $0.69 | $0.37 | $0.96 |
| Gross margin | 35.8% | 39.4% | 35.0% | 36.3% | 34.9% | 33.7% | 31.3% | 26.3% | 30.8% | 31.4% | 29.4% | 31.4% |
| Operating margin | −5.4% | 0.3% | −5.5% | −2.9% | 5.2% | 1.9% | 1.4% | −11.1% | 1.6% | 4.5% | 2.1% | 5.5% |
| Net margin | −9.6% | −8.4% | 15.3% | −8.6% | 4.4% | −2.1% | −0.9% | −15.3% | 0.4% | 1.9% | −0.5% | 3.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in MATW's financial statements (latest annual report filed November 21, 2025); data from EODHD. Sales, general & administrative expenses include sales and marketing.
MATW financial results
In fiscal year 2025 (ended September 30, 2025), Matthews International reported revenue of $1.5 billion, down 16.6% from the year before. It had a net loss of $24.5 million, a net profit margin of −1.6%. Diluted earnings per share came to $1.26. Over five years revenue grew at an average rate of −0.0% a year.
See the MATW stock overview for the latest quote and news, or the MATW chart for price history and technical indicators.
MATW income statement FAQ
What is Matthews International's annual revenue?
Matthews International reported total revenue of $1.5 billion for fiscal year 2025, which ended on September 30, 2025. That was down 16.6% from $1.8 billion the previous year.
Is Matthews International profitable?
No. Matthews International reported a net loss of $24.5 million in fiscal 2025, a net profit margin of −1.6%; its operating margin was 1.4%.
What is Matthews International's gross margin?
Matthews International's gross margin was 33.9% in fiscal 2025: for every $100 of revenue, Matthews International kept $34 after the direct cost of its products and services.
How much does Matthews International spend on research and development?
Matthews International spent $16.7 million on research and development in fiscal 2025, 1.1% of revenue.
How fast is Matthews International growing?
Revenue grew −0.0% a year on average over the last five fiscal years, from $1.5 billion to $1.5 billion.
What are Matthews International's earnings per share?
Matthews International earned $1.26 per diluted share in fiscal 2025, compared with $2.17 a year earlier.
When will Matthews International report its next earnings?
Matthews International is expected to report results for the quarter ending September 30, 2026 on November 19, 2026 after the market closes.
When does Matthews International's fiscal year end?
Matthews International's fiscal year ends in September. The latest annual report covers the year ended September 30, 2025 and was filed on November 21, 2025.