Seeking Alpha • Apr 29

Materialise: The Medical Segment Alone Makes This A Buy

Summary Materialise receives a 'Buy' rating, driven by robust growth in its medical segment despite weakness in software and manufacturing. MTLS's medical segment boasts a 4-year CAGR of 16%, with management guiding for continued strong growth through FY2026. The company maintains a fortress balance sheet with €71m net cash and trades at a significant discount to sector peers on EV/Sales and EV/EBITDA. My €7.20/share target price reflects medical segment valuation, but risks include potential growth slowdown and further deterioration in non-medical segments. Read the full article on Seeking Alpha

Analiz Makalesi • Nov 05

Materialise's (NASDAQ:MTLS) Sluggish Earnings Might Be Just The Beginning Of Its Problems

The market rallied behind Materialise NV's ( NASDAQ:MTLS ) stock, leading do a rise in the share price after its recent...

Analiz Makalesi • Oct 06

Materialise NV's (NASDAQ:MTLS) P/E Is On The Mark

With a price-to-earnings (or "P/E") ratio of 54.9x Materialise NV ( NASDAQ:MTLS ) may be sending very bearish signals...

Analiz Makalesi • Jul 27

Analyst Estimates: Here's What Brokers Think Of Materialise NV (NASDAQ:MTLS) After Its Second-Quarter Report

Shareholders might have noticed that Materialise NV ( NASDAQ:MTLS ) filed its quarterly result this time last week. The...

Analiz Makalesi • Jul 25

Materialise (NASDAQ:MTLS) Is Looking To Continue Growing Its Returns On Capital

If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...

Analiz Makalesi • May 04

After Leaping 28% Materialise NV (NASDAQ:MTLS) Shares Are Not Flying Under The Radar

Those holding Materialise NV ( NASDAQ:MTLS ) shares would be relieved that the share price has rebounded 28% in the...

Seeking Alpha • Feb 24

Materialise: Manufacturing Headwinds Are A Distraction

Summary Materialise's share price dropped significantly after the company reported poor Q4 earnings, which were driven by European automotive market weakness. Despite recent challenges, Materialise's Medical segment continues to perform well and the transition of the Software segment to a subscription model is progressing. The Medical and Software segments are Materialise's primary value drivers and more than justify the company's current valuation. Issues with the Manufacturing segment may need to be resolved before the stock moves higher though. Read the full article on Seeking Alpha

Analiz Makalesi • Feb 13

Materialise NV's (NASDAQ:MTLS) P/E Is Still On The Mark Following 26% Share Price Bounce

Materialise NV ( NASDAQ:MTLS ) shareholders have had their patience rewarded with a 26% share price jump in the last...

Analiz Makalesi • Jan 31

Materialise NV (NASDAQ:MTLS) Shares Could Be 28% Above Their Intrinsic Value Estimate

Key Insights Using the 2 Stage Free Cash Flow to Equity, Materialise fair value estimate is US$6.77 Materialise is...

Analiz Makalesi • Jan 07

These 4 Measures Indicate That Materialise (NASDAQ:MTLS) Is Using Debt Safely

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...

Analiz Makalesi • Nov 07

Materialise NV's (NASDAQ:MTLS) 27% Jump Shows Its Popularity With Investors

Materialise NV ( NASDAQ:MTLS ) shares have had a really impressive month, gaining 27% after a shaky period beforehand...

Seeking Alpha • Nov 04

Materialise: Strong Q3 Results Despite Ongoing Market Headwinds

Summary Materialise continues to grow on the back of its Medical segment, which is expanding at a rapid pace. Materialise's margins will continue to improve going forward, driven by a combination of revenue mix and economies of scale. The ACTech plant expansion will provide a material tailwind in 2025, although disruptions wrought by its startup are likely to negatively impact fourth quarter revenue. Despite the stock moving higher in recent weeks, Materialise remains deeply undervalued. Read the full article on Seeking Alpha

Analiz Makalesi • Nov 01

Materialise's (NASDAQ:MTLS) Strong Earnings Are Of Good Quality

Materialise NV ( NASDAQ:MTLS ) recently posted some strong earnings, and the market responded positively. We did some...

Seeking Alpha • Oct 25

Materialise: Medical Business Unit Is The Hidden Value

Summary Materialise NV is a Belgian additive manufacturing company, showing a 14.18% CAGR in its Medical segment from FY18 to FY23. Despite mixed results in other segments, Materialise maintains profitability with positive FCF and a strong balance sheet, supported by €63 million in net cash. The company's strategic positioning in high-value sectors and steady growth, combined with a net cash position and positive FCF, highlight its upside potential. DCF analysis suggests Materialise is undervalued by 35-40%, justifying a "buy" rating due to its innovative edge and expanding market in healthcare. Read the full article on Seeking Alpha

Analiz Makalesi • Oct 25

Is There Now An Opportunity In Materialise NV (NASDAQ:MTLS)?

While Materialise NV ( NASDAQ:MTLS ) might not have the largest market cap around , it led the NASDAQGS gainers with a...

Seeking Alpha • Aug 01

Materialise Stock: Nearing An Inflection Point (Rating Upgrade)

Summary Materialise NV continues to face headwinds from soft prototyping demand and muted 3D printer sales. Despite this, Materialise reported solid Q2 results, with growth improving sharply. Recent acquisitions, new software launches, and expanded manufacturing capacity are expected to drive growth going forward. While Materialise's share price has moved higher recently, the prospect of solid growth and significantly higher margins are not priced into the stock. Read the full article on Seeking Alpha

Analiz Makalesi • Aug 01

The Return Trends At Materialise (NASDAQ:MTLS) Look Promising

Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...

Seeking Alpha • Apr 26

Materialise Q1: Progress Against Headwinds

Summary Materialise NV faces a challenging demand environment and is transitioning to a cloud-based SaaS business model, impacting its financial performance. The software business is progressing slowly, while the medical business continues to perform well. The manufacturing business is struggling, but the startup of the expanded ACTech facility later in the year could change this. Macro headwinds and ongoing investments probably limit near-term upside. Longer term, Materialise appears deeply undervalued. Read the full article on Seeking Alpha

Analiz Makalesi • Apr 19

Materialise's (NASDAQ:MTLS) Strong Earnings Are Of Good Quality

Materialise NV ( NASDAQ:MTLS ) just reported healthy earnings but the stock price didn't move much. Investors are...

Seeking Alpha • Feb 26

Materialise: Upside From A Transition To Profitability

Summary The demand environment continues to weigh on Materialise's business, although the Medical segment remains a standout, with strong growth and improving margins. The adoption of robotics in joint replacement surgeries poses a threat to Materialise's medical business, though. Investments in the CO-AM platform and the ACTech facility expansion should begin to pay off in 2024, supporting growth and Materialise's competitive position. Given Materialise's relatively low valuation and the potential for solid growth and improving margins, Materialise's stock should do well over the next 1-2 years. Read the full article on Seeking Alpha

Analiz Makalesi • Feb 23

Does Materialise (NASDAQ:MTLS) Have A Healthy Balance Sheet?

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...

Seeking Alpha • Jan 31

Materialise NV: Consolidation And New Developments To Emerge As A Rising Star In The Additive Manufacturing Industry

Summary Materialise NV currently exhibits better growth, margins and fundamentals than its main competitors, positioning itself well in an industry that is estimated to grow at a CAGR of 16% until 2032; The medical business unit (c.a. 38.5% of total revenues in 9M23) continues to achieve double-digit growth, with the appointment of the new CEO to focus strongly on this segment; Both the analysis of multiples and DCF here presented show that the current share valuation is 40-45% below its fundamental value. Read the full article on Seeking Alpha

Analiz Makalesi • Jun 14

Here's Why Materialise (NASDAQ:MTLS) Can Manage Its Debt Responsibly

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...

Analiz Makalesi • May 23

Returns On Capital At Materialise (NASDAQ:MTLS) Paint A Concerning Picture

Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Ideally, a business...

Analiz Makalesi • Mar 14

Health Check: How Prudently Does Materialise (NASDAQ:MTLS) Use Debt?

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...

Analiz Makalesi • Nov 22

Materialise (NASDAQ:MTLS) Has A Pretty Healthy Balance Sheet

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...

Seeking Alpha • Sep 30

Materialise: Financials Remain Resilient

Summary Strategic initiatives set Materialise up for long-term growth and should lead to higher margins. How these initiatives will be received by customers remains to be seen though. In the near-term, investments are likely to weigh on margins whilst having little impact on growth. In the current environment this is unlikely to be well received by investors. Materialise is reasonably valued but a deterioration in economic conditions presents a significant downside risk. Materialise (MTLS) was a real narrative stock through the pandemic, with its valuation becoming completely detached from the fundamentals of the business. Despite facing headwinds from a weakening macro environment and high energy prices, Materialise will continue to benefit from secular growth in additive manufacturing and a rebound in automotive and aerospace manufacturing. Given the current valuation, Materialise’s stock should perform well over the long-term, although progress on the profitability front may be required before the stock moves higher. Materialise offers a range of additive manufacturing software as well as on demand parts printing. It segments its business into software, medical and manufacturing. They continue to build out the capabilities of their software platforms and are in the process of shifting towards higher value add manufacturing. CO-AM Platform Materialise will soon be introducing their CO-AM platform, which gives manufacturers cloud-based access to a range of software tools that enable them to plan, manage and optimize every stage of their operations. The CO-AM platform utilizes a datalake to connect all production tools and track operations, which aims to make optimizing operations simpler. Materialise will offer more than 25 software applications on its CO-AM platform, including integration with Magics; AM Watch for shopfloor data collection, and its Build Processors for connectivity with more than 150 different 3D printing systems. Figure 1: CO-AM Platform (source: Materialise) Materialise expects that the CO-AM platform will appeal to customers who operate a larger number of machines, with interest expected to come from something like 20% of the user base. Materialise’s Magics software is already widely used by larger additive manufacturing service organizations for data preparation, potentially giving the company a launchpad from which to introduce a more integrated solution. The CO-AM platform will help to advance the use of additive manufacturing in serial production by helping manufacturers achieve the consistent quality standards that are necessary in mass production. Serial production refers to the manufacturing of large quantities of goods in batches, often producing a range of goods using one machine. For example, serial production would generally be used for mass personalization manufacturing. From a financial perspective, Materialise's software segment is the most attractive part of the business, but growth has stagnated over the past few years. The CO-AM platform could reaccelerate Materialise's software revenue growth, but should also be supportive of its other segments. New Software Products Materialise continue to build on the functionality of their software with the introduction of Magics 26. Magics is software for data and build preparation, and Magics 26 combines support for native CAD workflows with its existing mesh capabilities. Magics 26 will incorporate the Siemens Parasolid kernel, opening up a range of new opportunities for users. Users can make adjustments to the original design files using CAD operations to increase printability. The adjusted file remains compatible with the PLM system and are easiest to use for post-processing steps such as CNC milling operations. Link3D Acquisition Materialise acquired Link3D in 2021 for 33.5 million USD. The acquisition will not have a material impact on revenues in the short-term and will be a drag on margins. In 2021, Link3D had revenues of 2.3 million USD and EBITDA losses of 4.6 million USD. Link3D provides software for digital manufacturing which will help Materialise develop their cloud-based platform, by integrating Link3D’s additive MES (Manufacturing Execution System) solution with Materialise's Magics software suite. MESs track the transformation of inputs into finished products and provide information that allows manufacturing operations to be optimized. Software Materialise sells software that is compatible with nearly all printer types to customers that own 3D printers in order to enhance their efficiency and throughput. Materialise offers two horizontal software platforms, Magics and Mimics. Materialise’s software offerings include: Software that converts a CAD file into a 3D printable format Software to optimize a specific 3D customer application Software to organize and integrate a "factory" of multiple printer types and brands Software revenue comes from software licenses, maintenance contracts and custom software development services with the majority of sales through Materialise's own sales force and a minority through system manufacturers. Medical Materialise produces both custom medical devices and software for making custom devices and helping doctors plan surgeries. 3D printing for medical applications is the fastest growing business at Materialise, driven largely by growing demand for 3D surgical implants. 3D printed medical devices at the moment are primarily surgical guides. In particular, CMF is the growth engine of the medical devices business. The medical business is also fairly exposed to elective surgeries, which was a large headwind early in the pandemic, but had more or less normalized by Q3 2020. Materialise's Mimics Suite realized revenues of almost 23 million Euros in 2021. Materialise is developing AI to support the planning of surgeries and the design of devices, in addition to introducing AR and VR functionality. Manufacturing Materialise utilizes its own printers to manufacture end-use parts and prototypes for customers, primarily in the medical devices and automotive fields. The key differentiating factors of Materialise's 3D printing service are: The size of printers and the prototypes and parts that it can produce via Mammoth stereolithography printers The speed and variety in which parts can be produced, with Materialise operating one of the largest 3D printing sites in the world with a range of printing technologies. Materialise's Manufacturing segment was the most negatively impacted by the pandemic, due in large part to its reliance on the automotive and aerospace sectors. Manufacturing revenue has now fully recovered, with Q2 2022 revenue exceeding Q2 2019 by more than 10%. There has been a substantial shift in the Manufacturing business which has driven this rebound though. The manufacturing business is benefitting from a post-COVID rebound in product development that leverages additive manufacturing for prototyping. Materialise is also doing well in small, certified manufacturing series production. Figure 2: Global Vehicle Production (source: Created by author using data from OICA) Figure 3: Boeing Plus Airbus Revenue (source: Created by author using data from company reports) The importance of the automotive sector to Materialise’s plastics manufacturing activities has declined over time. Industrial goods and medical device contract manufacturing projects grew 25% YoY in Q2 2022, while automotive projects remained stable at 2021’s depressed levels. Within automotive subcontracting, Materialise has instead chosen to focus on areas with better margins, like large stereo-lithography parts printed on their Mammoth printers. ACTech had a large legacy business involved in the development of new internal combustion engines for cars. The combination of diesel gate and the pandemic reduced ACTech’s turnover by approximately 50% in early 2020. ACTech has now pivoted from small cylinder blocks and turbochargers to complex casted components for electric car drive-trains and chassis. This shift has returned ACTech to pre-COVID revenues with a more favorable margin profile. The ACTech facility can now support the manufacture of a wider variety of components and larger components using sand 3D printing. Sand 3D printing uses a sand-like working medium with a polymer to bind the particles together. This can be used to produce finished products or molds for an alternative material to be poured into. This has opened new opportunities for Materialise in agricultural, mining, construction and marine vehicles, producing a small series of large engine parts. The complexity of these types of parts is increasing to improve the thermodynamic efficiency of engines, which necessitates the use of precision sand printing and casting small series parts. Sand printing, molds assembly, metal casting, and post processing steps, like CNC milling, are necessary competencies to support these types of operations, and Materialise believes that offering integrated solutions provides significantly more value to customers. To support this opportunity, Materialise is investing in an additional 9,000 square meter facility that will be dedicated to CNC milling and quality control operations. This facility will also create space for Materialise to increase sand printing, molds assembly and casting operations in the old plant. Materialise expects to invest 23 million Euro’s in the coming years, which will double ACTech’s capacity.

Analiz Makalesi • Sep 12

There's Been No Shortage Of Growth Recently For Materialise's (NASDAQ:MTLS) Returns On Capital

To find a multi-bagger stock, what are the underlying trends we should look for in a business? Firstly, we'd want to...

Kar Tanesi Skoru
Değerleme	3/6
Gelecekteki Büyüme	3/6
Geçmiş Performans	3/6
Finansal Sağlık	6/6
Temettüler	0/6

Tarihsel hisse senedi fiyatları
Güncel Hisse Fiyatı	US$6.19
52 Haftanın En Yüksek Seviyesi	US$6.80
52 Haftanın En Düşük Seviyesi	US$4.78
Beta	1.28
1 Aylık Değişim	18.81%
3 Aylık Değişim	17.23%
1 Yıllık Değişim	15.70%
3 Yıllık Değişim	-35.12%
5 Yıllık Değişim	-76.89%
Halka arzdan bu yana değişim	-47.98%

	MTLS	US Software	US Pazar
7D	11.3%	0.3%	1.2%
1Y	15.7%	-6.6%	28.7%

MTLS volatility
MTLS Average Weekly Movement	5.1%
Software Industry Average Movement	9.3%
Market Average Movement	7.2%
10% most volatile stocks in US Market	16.4%
10% least volatile stocks in US Market	3.1%

MTLS temel i̇stati̇sti̇kler
Piyasa değeri	US$344.78m
Kazançlar(TTM)	US$11.71m
Gelir(TTM)	US$311.19m

MTLS gelir tablosu (TTM)
Gelir	€267.53m
Gelir Maliyeti	€113.41m
Brüt Kâr	€154.12m
Diğer Giderler	€144.05m
Kazançlar	€10.07m

Hisse başına kazanç (EPS)	0.17
Brüt Marj	57.61%
Net Kâr Marjı	3.76%
Borç/Özkaynak Oranı	21.1%

Veri	Son Güncelleme (UTC saati)
Şirket Analizi	2026/05/26 02:38
Gün Sonu Hisse Fiyatı	2026/05/26 00:00
Kazançlar	2026/03/31
Yıllık Kazançlar	2025/12/31

Paket	Veri	Zaman Çerçevesi	Örnek ABD Kaynağı ^*
Şirket Finansalları	10 yıl	Gelir tablosu Nakit akış tablosu Bilanço	SEC Form 10-K SEC Form 10-Q
Analist Konsensüs Tahminleri	+3 yıl	Finansal tahminler Analist fiyat hedefleri	Analist Araştırma Raporları Blue Matrix
Piyasa Fiyatları	30 yıl	Hisse senedi fiyatları Temettüler, Bölünmeler ve Eylemler	ICE Piyasa Verileri SEC Form S-1
Sahiplik	10 yıl	En büyük hissedarlar İçeriden öğrenenlerin ticareti	SEC Form 4 SEC Form 13D
Yönetim	10 yıl	Liderlik ekibi Yönetim Kurulu	SEC Form 10-K SEC Form DEF 14A
Önemli Gelişmeler	10 yıl	Şirket duyuruları	SEC Form 8-K

Analist	Kurum
John Baliotti	Brean Capital Historical (Janney Montgomery)
Robert Burleson	Canaccord Genuity
Troy Jensen	Cantor Fitzgerald & Co.

Materialise (MTLS) Hisse Özeti

Ödüller

Risk Analizi

Analyst Price Targets

Cloud Software And Medical Constraints Will Pressure 3D Printing Adoption Yet Offer Gradual Upside

Personalized Healthcare And Automation Will Unlock Future Markets

Top Analyst Narratives

Cloud Software And Medical Constraints Will Pressure 3D Printing Adoption Yet Offer Gradual Upside

Personalized Healthcare And Automation Will Unlock Future Markets

Materialise NV Rakipler

Xunlei

Rimini Street

Yext

8x8

Fiyat Geçmişi ve Performans

Son Haberler & Güncellemeler

Materialise NV, Annual General Meeting, Jun 16, 2026

Cloud Software And Medical Constraints Will Pressure 3D Printing Adoption Yet Offer Gradual Upside

Full year 2025 earnings: EPS exceeds analyst expectations

Materialise: The Medical Segment Alone Makes This A Buy

Consensus EPS estimates increase by 28%

Full year 2025 earnings: EPS exceeds analyst expectations

Recent updates

Materialise NV, Annual General Meeting, Jun 16, 2026

Cloud Software And Medical Constraints Will Pressure 3D Printing Adoption Yet Offer Gradual Upside

Full year 2025 earnings: EPS exceeds analyst expectations

Materialise: The Medical Segment Alone Makes This A Buy

Consensus EPS estimates increase by 28%

Full year 2025 earnings: EPS exceeds analyst expectations

Materialise NV Provides Earnings Guidance for the Full Fiscal Year of 2026

Now 21% undervalued

Materialise NV to Report First Half, 2026 Results on Aug 27, 2026

Now 22% undervalued

Materialise's (NASDAQ:MTLS) Sluggish Earnings Might Be Just The Beginning Of Its Problems

Third quarter 2025 earnings released: EPS: €0.031 (vs €0.052 in 3Q 2024)

Materialise NV to Report Q3, 2025 Results on Oct 28, 2025

Materialise NV's (NASDAQ:MTLS) P/E Is On The Mark

Analyst Estimates: Here's What Brokers Think Of Materialise NV (NASDAQ:MTLS) After Its Second-Quarter Report

New minor risk - Profit margin trend

Materialise (NASDAQ:MTLS) Is Looking To Continue Growing Its Returns On Capital

Materialise NV Provides Earnings Guidance for the Full Fiscal Year of 2025

Materialise NV to Report Q2, 2025 Results on Jul 24, 2025

Materialise NV, Annual General Meeting, Jun 03, 2025

After Leaping 28% Materialise NV (NASDAQ:MTLS) Shares Are Not Flying Under The Radar

Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind

Materialise NV to Report Q1, 2025 Results on Apr 24, 2025

Investor sentiment deteriorates as stock falls 16%

Non-Executive Chairman recently bought US$80k worth of stock

Investor sentiment deteriorates as stock falls 16%

Consensus EPS estimates fall by 32%

Materialise: Manufacturing Headwinds Are A Distraction

Materialise NV Provides Earnings Guidance for the Year 2025

New minor risk - Share price stability

Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind

Materialise NV's (NASDAQ:MTLS) P/E Is Still On The Mark Following 26% Share Price Bounce

Now 21% overvalued after recent price rise

Launch Of Mimics Flow And ACTech Expansion Will Advance Personalized Medicine

Materialise NV to Report Q4, 2024 Results on Feb 20, 2025

Materialise NV (NASDAQ:MTLS) Shares Could Be 28% Above Their Intrinsic Value Estimate

Now 21% overvalued after recent price rise

Now 21% overvalued after recent price rise

These 4 Measures Indicate That Materialise (NASDAQ:MTLS) Is Using Debt Safely

Now 22% overvalued after recent price rise

Investor sentiment improves as stock rises 15%

Materialise NV's (NASDAQ:MTLS) 27% Jump Shows Its Popularity With Investors

Materialise: Strong Q3 Results Despite Ongoing Market Headwinds

Materialise's (NASDAQ:MTLS) Strong Earnings Are Of Good Quality

Materialise: Medical Business Unit Is The Hidden Value

Is There Now An Opportunity In Materialise NV (NASDAQ:MTLS)?

Second quarter 2024 earnings released: EPS: €0.066 (vs €0.008 loss in 2Q 2023)

Investor sentiment improves as stock rises 17%

Materialise NV to Report Q3, 2024 Results on Oct 24, 2024

Consensus EPS estimates fall by 12%

Investor sentiment deteriorates as stock falls 16%

Consensus EPS estimates increase by 32%

Now 27% undervalued

Materialise Stock: Nearing An Inflection Point (Rating Upgrade)

The Return Trends At Materialise (NASDAQ:MTLS) Look Promising

Second quarter 2024 earnings: EPS and revenues exceed analyst expectations

Materialise NV Provides Earnings Guidance for the Year 2024