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Matthews International

DB:MW1A
Snowflake Description

Undervalued average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MW1A
DB
$1B
Market Cap
  1. Home
  2. DE
  3. Commercial Services
Company description

Matthews International Corporation provides brand solutions, memorialization products, and industrial products worldwide. The last earnings update was 78 days ago. More info.


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MW1A Share Price and Events
7 Day Returns
-0.3%
DB:MW1A
1.5%
DE Commercial Services
1.8%
DE Market
1 Year Returns
-17.3%
DB:MW1A
-8.1%
DE Commercial Services
-6%
DE Market
MW1A Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Matthews International (MW1A) -0.3% 4.6% -10.1% -17.3% -24.7% 17.2%
DE Commercial Services 1.5% 1.7% 10.8% -8.1% 1.3% -41%
DE Market 1.8% 4.2% 7.4% -6% 10.1% 15.4%
1 Year Return vs Industry and Market
  • MW1A underperformed the Commercial Services industry which returned -8.1% over the past year.
  • MW1A underperformed the Market in Germany which returned -6% over the past year.
Price Volatility
MW1A
Industry
5yr Volatility vs Market

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.

DB:MW1A Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

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 DB:MW1A
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Commercial Services Unlevered Beta Simply Wall St/ S&P Global 0.73
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.735 (1 + (1- 21%) (79.84%))
1.133
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.13
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.133 * 5.96%)
6.98%

Discounted Cash Flow Calculation for DB:MW1A 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.

DB:MW1A DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 6.98%)
2019 135.30 Analyst x1 126.47
2020 152.00 Analyst x1 132.81
2021 164.45 Est @ 8.19% 134.31
2022 173.99 Est @ 5.8% 132.83
2023 181.17 Est @ 4.13% 129.29
2024 186.53 Est @ 2.96% 124.43
2025 190.52 Est @ 2.14% 118.80
2026 193.51 Est @ 1.57% 112.79
2027 195.76 Est @ 1.16% 106.66
2028 197.49 Est @ 0.88% 100.58
Present value of next 10 years cash flows $1,219.00
DB:MW1A DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $197.49 × (1 + 0.23%) ÷ (6.98% – 0.23%)
$2,931.60
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $2,931.60 ÷ (1 + 6.98%)10
$1,493.08
DB:MW1A Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,219.00 + $1,493.08
$2,712.07
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $2,712.07 / 31.87
$85.09
DB:MW1A Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:MW1A represents 0.88947x of NasdaqGS:MATW
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.88947x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 85.09 x 0.88947
€75.69
Value per share (EUR) From above. €75.69
Current discount Discount to share price of €34.36
= -1 x (€34.36 - €75.69) / €75.69
54.6%

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
>50%
Share price is €34.36 vs Future cash flow value of €75.69
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, and 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
DB:MW1A PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $2.38
NasdaqGS:MATW Share Price ** NasdaqGS (2019-04-18) in USD $38.63
Europe Commercial Services Industry PE Ratio Median Figure of 105 Publicly-Listed Commercial Services Companies 16.52x
Germany Market PE Ratio Median Figure of 422 Publicly-Listed Companies 19.59x

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

** Primary Listing of Matthews International.

DB:MW1A PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 38.63 ÷ 2.38

16.23x

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

  • Matthews International is good value based on earnings compared to the Europe Commercial Services industry average.
  • Matthews International is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Matthews International's expected growth come at a high price?
Raw Data
DB:MW1A PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 16.23x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
15.7%per year
Europe Commercial Services Industry PEG Ratio Median Figure of 54 Publicly-Listed Commercial Services Companies 1.35x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.57x

*Line of best fit is calculated by linear regression .

DB:MW1A PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 16.23x ÷ 15.7%

1.03x

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

  • Matthews International is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Matthews International's assets?
Raw Data
DB:MW1A PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $26.42
NasdaqGS:MATW Share Price * NasdaqGS (2019-04-18) in USD $38.63
Germany Commercial Services Industry PB Ratio Median Figure of 8 Publicly-Listed Commercial Services Companies 2.03x
Germany Market PB Ratio Median Figure of 570 Publicly-Listed Companies 1.84x
DB:MW1A PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 38.63 ÷ 26.42

1.46x

* 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 DE 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 5/6, 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.

Future Performance

 How is Matthews International expected to perform in the next 1 to 3 years based on estimates from 4 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
15.7%
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 0.2%.
Growth vs Market Checks
  • Matthews International's earnings growth is expected to exceed the Germany market average.
  • Matthews International's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:MW1A Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:MW1A Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 15.7%
DB:MW1A Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 1.6%
Germany Commercial Services Industry Earnings Growth Rate Market Cap Weighted Average 31.2%
Germany Commercial Services Industry Revenue Growth Rate Market Cap Weighted Average 3.5%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.5%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*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
DB:MW1A Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:MW1A Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-09-30 1,662 119 1
2020-09-30 1,659 194 114 4
2019-09-30 1,620 172 97 4
DB:MW1A Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
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
2016-12-31 1,475 146 72
2016-09-30 1,480 140 67
2016-06-30 1,472 137 60
2016-03-31 1,454 141 59

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Matthews International's earnings are expected to grow by 15.7% yearly, however this is not considered high growth (20% yearly).
  • Matthews International's revenue is expected to grow by 1.6% yearly, however this is not considered high growth (20% yearly).
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
DB:MW1A 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 4 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.

DB:MW1A Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-09-30 3.94 3.94 3.94 1.00
2020-09-30 3.71 3.71 3.70 2.00
2019-09-30 3.10 3.20 3.00 2.00
DB:MW1A Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 2.38
2018-09-30 3.39
2018-06-30 3.06
2018-03-31 3.20
2017-12-31 3.09
2017-09-30 2.31
2017-06-30 2.44
2017-03-31 2.26
2016-12-31 2.23
2016-09-30 2.04
2016-06-30 1.82
2016-03-31 1.79

*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 Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany 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 2/6, 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.

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's year on year earnings growth rate has been positive over the past 5 years.
  • Matthews International's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Matthews International's 1-year earnings growth is negative, it can't be compared to the Europe Commercial Services industry average.
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.

DB:MW1A Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 1,607.30 75.29 413.21
2018-09-30 1,602.58 107.37 416.95
2018-06-30 1,591.20 97.42 441.71
2018-03-31 1,569.21 102.49 436.98
2017-12-31 1,536.06 99.23 434.68
2017-09-30 1,515.61 74.37 427.47
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
2013-03-31 939.56 51.07 250.27
2012-12-31 908.71 52.02 247.40
2012-09-30 900.32 54.42 243.99
2012-06-30 910.05 62.47 237.56

*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.
  • Matthews International has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Matthews International used its assets less efficiently than the Europe Commercial Services industry average last year based on Return on Assets.
  • Matthews International has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
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 2/6, 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.

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.
  • Low level of unsold assets.
  • 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.

DB:MW1A Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 844.02 983.01 42.69
2018-09-30 868.71 960.60 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
2013-03-31 497.31 402.10 51.53
2012-12-31 502.49 410.45 53.61
2012-09-30 490.92 328.85 58.26
2012-06-30 492.86 328.53 54.69
  • Matthews International's level of debt (116.5%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (67.9% vs 116.5% today).
  • Debt is not well covered by operating cash flow (15.1%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 3.4x coverage).
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 2/6, 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.

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
2.07%
Current annual income from Matthews International dividends.
If you bought €2,000 of Matthews International shares you are expected to receive €41 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 Germany (1.43%).
  • Matthews International's dividend is below the markets top 25% of dividend payers in Germany (3.72%).
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
DB:MW1A 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 4 Analyst Estimates (S&P Global) See Below
Germany Commercial Services Industry Average Dividend Yield Market Cap Weighted Average of 7 Stocks 3.3%
Germany Market Average Dividend Yield Market Cap Weighted Average of 326 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

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

DB:MW1A Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-09-30
2020-09-30
2019-09-30
DB:MW1A Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-01-24 0.800 2.032
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
2009-04-21 0.260 0.897

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.
  • Dividends paid are well covered by earnings (3.1x coverage).
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 0.8%) - 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 4/6, see the detailed checks below.


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

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 $6,564,838
AGE 58
TENURE AS CEO 12.5 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 been consistent with company performance over the past year.
  • Joseph's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

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

7.5
Average Tenure
60
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
58
TENURE
12.5 yrs

Steven Nicola

TITLE
CFO & Corporate Secretary
COMPENSATION
$2M
AGE
58
TENURE
15.3 yrs

Greg Babe

TITLE
CTO & Director
COMPENSATION
$1M
AGE
60
TENURE
3.4 yrs

Brian Dunn

TITLE
Executive Vice President of Strategy & Corporate Development
COMPENSATION
$1M
AGE
61
TENURE
4.8 yrs

David Schawk

TITLE
Group President of SGK Brand Solutions & Director
COMPENSATION
$1M
AGE
62
TENURE
4.8 yrs

Edward Brady

TITLE
Chief Information Officer
AGE
60
TENURE
3.3 yrs

Brian Walters

TITLE
Senior VP & General Counsel
COMPENSATION
$1M
AGE
49
TENURE
10.2 yrs

Marcy Campbell

TITLE
Senior Vice President of Human Resources
AGE
55
TENURE
4.4 yrs

Paul Rahill

TITLE
President of Environmental Solutions Division
COMPENSATION
$594K
AGE
61
TENURE
16.5 yrs

David Beck

TITLE
VP & Controller
AGE
66
TENURE
15.6 yrs
Board of Directors Tenure

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

8.1
Average Tenure
61
Average Age
  • The tenure for the Matthews International board of directors is about average.
Board of Directors

John Turner

TITLE
Chairman of the Board
COMPENSATION
$310K
AGE
72
TENURE
9.2 yrs

Joseph Bartolacci

TITLE
CEO, President & Director
COMPENSATION
$7M
AGE
58
TENURE
13.4 yrs

Greg Babe

TITLE
CTO & Director
COMPENSATION
$1M
AGE
60
TENURE
8.4 yrs

David Schawk

TITLE
Group President of SGK Brand Solutions & Director
COMPENSATION
$1M
AGE
62
TENURE
4.8 yrs

Wendy Dietze

TITLE
Director
COMPENSATION
$220K
AGE
60
TENURE
10.8 yrs

Alvaro Garcia-Tunon

TITLE
Director
COMPENSATION
$227K
AGE
66
TENURE
9.5 yrs

Morgan O'Brien

TITLE
Director
COMPENSATION
$220K
AGE
58
TENURE
7.8 yrs

Jerry Whitaker

TITLE
Director
COMPENSATION
$220K
AGE
67
TENURE
7.8 yrs

Terry Dunlap

TITLE
Director
COMPENSATION
$212K
AGE
59
TENURE
4.2 yrs

Don Quigley

TITLE
Director
COMPENSATION
$210K
AGE
62
TENURE
3.6 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
21. Nov 18 Buy David Schawk Individual 20. Nov 18 20. Nov 18 1,000 €35.92 €35,916
30. May 18 Sell Brian Dunn Individual 25. May 18 25. May 18 -10,452 €45.73 €-477,929
08. May 18 Buy Alvaro Garcia-Tunon Individual 07. May 18 07. May 18 2,000 €41.94 €83,880
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.

News

Simply Wall St News

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
MW1A
Exchange: DB
Founded: 1850
$1,094,770,695
31,871,243
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: 2019/04/20 20:54
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/18
Last earnings filing: 2019/02/01
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/09/30


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.