MATVMativ Holdings, Inc.
Paper Mills
- Revenue
- $2.0B
- 0.3% YoY
- Operating margin
- -19.3%
- 6183% YoY
- EBITDA
- −$243M
- 262% YoY
- Market cap
- $625M
- Employees
- 5,000
- $397K revenue each
- Net debt / EBITDA
- —
- $1.2B net debt
- AI in 10-K
- 2.2
- mentions per 10K words
Takeover score 1 of 13
Fixable underperformance 0 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo—Cash flow under 80% of net income
- Dilutive SBCNo1% of revenueOver 10% of revenue
- Payouts exceed cash flowNo25% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo3% of assetsOver 40% of assets
- Shareholder dissentNo97% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo$397K · 33rd pctBottom quartile of its SIC industry
- Quiet on AINo2.2 per 10K words · 58th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$625M market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo$0 netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $931M | $1.6B | $2.0B | $2.0B | $2.0B | 0.3% |
| Operating income | −$16M | −$40M | −$414M | $6M | −$384M | 6202% |
| Net income | $89M | −$7M | −$310M | −$49M | −$337M | 593% |
| Operating cash flow | $58M | $202M | $107M | $95M | $134M | 41% |
| Capex | $19M | $46M | $66M | $55M | $40M | 27% |
| Stock-based comp | $9M | $20M | $11M | $11M | $11M | 2.6% |
| Buybacks | $3M | $7M | $11M | — | — | |
| Dividends | $55M | $72M | $55M | $22M | $22M | 3.2% |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
No pay-versus-performance disclosure yet.