NasdaqGS:MTLS

Stock Analysis Report

Executive Summary

Materialise NV provides additive manufacturing and medical software, and 3D printing services in Europe, the Americas, Europe and Africa, and the Asia-Pacific.


Snowflake Analysis

Reasonable growth potential with adequate balance sheet.


Similar Companies

Share Price & News

How has Materialise's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: MTLS's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

23.6%

MTLS

-1.0%

US Software

-2.0%

US Market


1 Year Return

6.3%

MTLS

6.5%

US Software

-15.1%

US Market

Return vs Industry: MTLS underperformed the US Software industry which returned 6.9% over the past year.

Return vs Market: MTLS exceeded the US Market which returned -14.9% over the past year.


Shareholder returns

MTLSIndustryMarket
7 Day23.6%-1.0%-2.0%
30 Day19.8%-15.0%-19.7%
90 Day-0.5%-8.6%-23.2%
1 Year6.3%6.3%7.6%6.5%-13.4%-15.1%
3 Year99.9%99.9%100.0%91.4%10.9%3.7%
5 Year173.0%173.0%162.3%143.8%28.4%14.4%

Price Volatility Vs. Market

How volatile is Materialise's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Materialise undervalued compared to its fair value and its price relative to the market?

542.38x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: MTLS ($17.35) is trading above our estimate of fair value ($10.39)

Significantly Below Fair Value: MTLS is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: MTLS is poor value based on its PE Ratio (509.9x) compared to the Software industry average (39.2x).

PE vs Market: MTLS is poor value based on its PE Ratio (509.9x) compared to the US market (12.5x).


Price to Earnings Growth Ratio

PEG Ratio: MTLS is poor value based on its PEG Ratio (9.4x)


Price to Book Ratio

PB vs Industry: MTLS is overvalued based on its PB Ratio (6x) compared to the US Software industry average (4.2x).


Next Steps

Future Growth

How is Materialise forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

54.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MTLS's forecast earnings growth (54.1% per year) is above the savings rate (1.7%).

Earnings vs Market: MTLS's earnings (54.1% per year) are forecast to grow faster than the US market (12.2% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: MTLS's revenue (11.3% per year) is forecast to grow faster than the US market (7.1% per year).

High Growth Revenue: MTLS's revenue (11.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MTLS's Return on Equity is forecast to be low in 3 years time (8.3%).


Next Steps

Past Performance

How has Materialise performed over the past 5 years?

40.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MTLS has high quality earnings.

Growing Profit Margin: MTLS's current net profit margins (0.8%) are lower than last year (1.6%).


Past Earnings Growth Analysis

Earnings Trend: MTLS's earnings have grown significantly by 40.3% per year over the past 5 years.

Accelerating Growth: MTLS's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: MTLS had negative earnings growth (-45.6%) over the past year, making it difficult to compare to the Software industry average (18.7%).


Return on Equity

High ROE: MTLS's Return on Equity (1.2%) is considered low.


Next Steps

Financial Health

How is Materialise's financial position?


Financial Position Analysis

Short Term Liabilities: MTLS's short term assets (€191.2M) exceed its short term liabilities (€84.0M).

Long Term Liabilities: MTLS's short term assets (€191.2M) exceed its long term liabilities (€122.6M).


Debt to Equity History and Analysis

Debt Level: MTLS's debt to equity ratio (84.1%) is considered high.

Reducing Debt: MTLS's debt to equity ratio has increased from 15.5% to 84.1% over the past 5 years.

Debt Coverage: MTLS's debt is well covered by operating cash flow (23.7%).

Interest Coverage: MTLS's interest payments on its debt are well covered by EBIT (3x coverage).


Balance Sheet

Inventory Level: MTLS has a high level of physical assets or inventory.

Debt Coverage by Assets: MTLS's debt is covered by short term assets (assets are 1.6x debt).


Next Steps

Dividend

What is Materialise's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate MTLS's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate MTLS's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if MTLS's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if MTLS's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of MTLS's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

7.2yrs

Average management tenure


CEO

Wilfried Vancraen (57yo)

29.75s

Tenure

Mr. Wilfried Vancraen Founded Materialise Nv in July 1990 and has been its Chief Executive Officer and Director since July 1990. 


Leadership Team

NamePositionTenureCompensationOwnership
Peter Leys
Executive Chairman7.25yrsno data0.13% 1.2m
Wilfried Vancraen
Founder29.75yrsno data0.076% 728.4k
Johan Albrecht
Executive VP & CFO4.67yrsno datano data
Bart van der Schueren
Executive VP & CTO4.25yrsno data0.38% 3.7m
Eduard Crits
Chief Information Officer1.67yrsno datano data
Carla Van Steenbergen
Chief Legal Officer & Secretary16.75yrsno data0.055% 532.9k
Conny Hooghe
Vice President of Human Resources2.58yrsno datano data
Hilde Ingelaere
Executive VP of Medical & Director22.33yrsno data0.52% 5.1m
Johan Pauwels
Executive Vice President of Software9.25yrsno data0.34% 3.3m
Filip Dehing
Chief Executive Officer of RapidFit NV7.17yrsno datano data

7.2yrs

Average Tenure

53.5yo

Average Age

Experienced Management: MTLS's management team is seasoned and experienced (7.2 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Peter Leys
Executive Chairman7.25yrsno data0.13% 1.2m
Wilfried Vancraen
Founder29.75yrsno data0.076% 728.4k
Hilde Ingelaere
Executive VP of Medical & Director22.33yrsno data0.52% 5.1m
Bart Luyten
Independent Director2.83yrsno datano data
Jürgen Ingels
Independent Director6.42yrsno data0.021% 200.4k
Johan De Lille
Independent Director13.75yrsno datano data
Volker Hammes
Director1.42yrsno datano data
Pol Ingelaere
Director9.25yrsno data0.026% 254.8k
Jozef van der Sloten
Director13.25yrsno data0.023% 218.5k
Godelieve Verplancke
Independent Director4.83yrsno datano data

8.3yrs

Average Tenure

56yo

Average Age

Experienced Board: MTLS's board of directors are considered experienced (8.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 6.2%.


Top Shareholders

Company Information

Materialise NV's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Materialise NV
  • Ticker: MTLS
  • Exchange: NasdaqGS
  • Founded: 1990
  • Industry: Application Software
  • Sector: Software
  • Market Cap: US$963.141m
  • Shares outstanding: 52.89m
  • Website: https://www.materialise.com

Number of Employees


Location

  • Materialise NV
  • Technologielaan 15
  • Leuven
  • Flemish Brabant
  • 3001
  • Belgium

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MTLSNasdaqGS (Nasdaq Global Select)YesSPON ADS EA REPSTG 1 ORDUSUSDJun 2014
06MADB (Deutsche Boerse AG)YesSPON ADS EA REPSTG 1 ORDDEEURJun 2014

Biography

Materialise NV provides additive manufacturing and medical software, and 3D printing services in Europe, the Americas, Europe and Africa, and the Asia-Pacific. The company’s Materialise Software segment offers software through programs and platforms that enable and enhance the functionality of 3D printers and of 3D printing operations. Its software interfaces between various types of 3D printers; and various software applications and capturing technologies, including computer-aided design packages and 3D scanners. This segment serves 3D printing machine original equipment manufacturers; manufacturers in automotive, aerospace, consumer goods, and hearing aid industries; and 3D printing service bureaus through its sales force, Website, and third-party distributors. Its Materialise Medical segment provides medical software that allows medical-image based analysis and engineering, as well as patient-specific design of surgical devices and implants. It serves medical device companies, hospitals, universities, and industrial companies through its direct sales force, Website, and picture archiving and communication system partners. The company’s Materialise Manufacturing segment provides 3D printing services, design and engineering services, and rapid prototyping and additive manufacturing of production parts to industrial and commercial customers. It has collaboration agreements with Zimmer Biomet Holdings, Inc.; Encore Medical, L.P.; DePuy Synthes Companies of Johnson & Johnson; Global Orthopaedic Technology Pty Ltd; Limacorporate Spa; Mathys AG; Howmedica Osteonics Corp.; and Corin Ltd., as well as a partnership with Sigma Labs, Inc. The company was founded in 1990 and is headquartered in Leuven, Belgium. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/04 04:23
End of Day Share Price2020/04/03 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.