Want to see MTLS full AI Analyst Report?
Top Page
Materialise
(NASDAQ:MTLS)
Select Model
Select Model
Rating:64Neutral
Price Target:
$7.50
▲(12.44% Upside)
Action:Reiterated
Date:10/29/26
The score is supported primarily by improving financial trajectory (re-accelerating TTM growth, better margins, low leverage, and stronger free cash flow) and a generally constructive earnings update with reaffirmed guidance and strong cash position. It is held back by weak technical setup (price below key moving averages and very low RSI) and a valuation that looks only moderate relative to still-modest and historically inconsistent profitability.
Positive Factors
Medical segment growth
Medical is the largest quarterly segment at 54% of revenue and is growing near 10%, indicating durable adoption of patient-specific solutions and clinical software. Continued product expansion and clinical workflow development can support recurring demand across hospitals and device customers.
Negative Factors
Software revenue decline
Software revenue is declining as customers remain cautious and sales cycles lengthen, weakening one of the company’s potentially recurring and scalable revenue streams. Lower software demand can limit operating leverage and make growth more dependent on service and production volumes.
Read all positive and negative factors
Positive Factors
Negative Factors
Medical segment growth
Medical is the largest quarterly segment at 54% of revenue and is growing near 10%, indicating durable adoption of patient-specific solutions and clinical software. Continued product expansion and clinical workflow development can support recurring demand across hospitals and device customers.
Read all positive factors
Materialise (MTLS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$400.48M
Dividend YieldN/A
Average Volume (3M)213.41K
Price to Earnings (P/E)26.5
Beta (1Y)1.38
Revenue Growth10.14%
EPS Growth-10.93%
CountryUS
Employees2,556
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)0.25
Shares Outstanding59,067,184
10 Day Avg. Volume185,756
30 Day Avg. Volume213,412
Financial Highlights & Ratios
PEG Ratio-0.84
Price to Book (P/B)1.09
Price to Sales (P/S)1.09
P/FCF Ratio30.53
Enterprise Value/Market Cap1.01
Enterprise Value/Revenue1.18
Enterprise Value/Gross Profit2.05
Enterprise Value/Ebitda11.17
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.18
Revenue Forecast (FY)$276.09M
Materialise Business Overview & Revenue Model
Company Description
Materialise N.V. (MTLS), founded in 1990 and headquartered in Leuven, Belgium, is a global leader in additive manufacturing and medical technology. The company offers specialized software and comprehensive 3D printing services across the Americas,...
How the Company Makes Money
Materialise makes money primarily through a mix of software revenues and service-based revenues tied to 3D printing applications.
1) Software segment (software products and related services): Materialise generates revenue by licensing its additiv...
Materialise Earnings Call Summary
Earnings Call Date:Oct 28, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Feb 18, 2027
Earnings Call Sentiment Positive
The call was predominantly positive. Medical revenue grew nearly 10%, core manufacturing series production increased more than 30%, Phits Dynaprint volumes tripled sequentially, cash generation remained strong, and full-year revenue and Adjusted EBIT guidance was reaffirmed. The main challenges were declining software revenue amid cautious customer spending and extended sales cycles, softer prototyping demand, higher R&D and operating expenses, and a relatively low third-quarter Adjusted EBIT margin.Positive Updates
Consolidated Revenue Growth
Third-quarter consolidated revenue increased by more than 2% year-over-year to EUR 67.7 million. Excluding the impact of recent divestitures, revenue increased by almost 5%.
Negative Updates
Software Revenue Decline
Software revenue decreased by just over 4% year-over-year in the third quarter to EUR 9.9 million, reflecting continued cautious customer spending and extended sales cycles. For the first nine months, software revenue was EUR 29 million, down 3% year-over-year.
Read all updates
Q3-2026 Updates
Positive
Negative
Consolidated Revenue Growth
Third-quarter consolidated revenue increased by more than 2% year-over-year to EUR 67.7 million. Excluding the impact of recent divestitures, revenue increased by almost 5%.
Read all positive updates
Company Guidance
For full year 2026, Materialise reconfirmed revenue guidance of EUR 273 million to 283 million, fully absorbing the unfavorable revenue impact of the recent RapidFit and Eyewear divestitures, and reaffirmed Adjusted EBIT guidance of EUR 12 million to 14 million, the range raised in August; in the final quarter, it will focus on executing its strategy, maintaining tight cost control and strong cash generation, and continuing to increase investments in its focus areas.Materialise Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
78
Positive
Cash Flow
67
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 342.42M | 257.07M | 266.76M | 256.13M | 232.02M | 205.45M |
| Gross Profit | 196.26M | 146.91M | 150.82M | 145.13M | 128.77M | 118.17M |
| EBITDA | 36.09M | 25.79M | 31.19M | 30.09M | 23.44M | 36.72M |
| Net Income | 14.66M | 7.41M | 13.44M | 6.72M | -2.12M | 13.15M |
Balance Sheet | ||||||
| Total Assets | 436.85M | 420.47M | 396.34M | 396.63M | 411.26M | 413.41M |
| Cash, Cash Equivalents and Short-Term Investments | 156.13M | 133.86M | 102.30M | 127.57M | 140.87M | 196.03M |
| Total Debt | 72.26M | 66.15M | 41.28M | 64.40M | 80.98M | 99.11M |
| Total Liabilities | 176.71M | 165.09M | 147.84M | 160.04M | 182.33M | 180.83M |
| Stockholders Equity | 260.22M | 255.45M | 248.58M | 236.65M | 228.96M | 232.58M |
Cash Flow | ||||||
| Free Cash Flow | 24.33M | 9.14M | 5.08M | 8.40M | -2.48M | 14.12M |
| Operating Cash Flow | 37.44M | 22.68M | 31.46M | 20.16M | 22.29M | 25.84M |
| Investing Cash Flow | -7.30M | -9.32M | -28.59M | -11.04M | -53.86M | -13.13M |
| Financing Cash Flow | 3.96M | 18.00M | -27.64M | -22.37M | -22.51M | 71.16M |
Materialise Technical Analysis
Negative
6.67
Price Trends
7.80
Negative
7.27
Negative
6.37
Positive
Market Momentum
0.04
Positive
26.03
Positive
61.58
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MTLS, the sentiment is Negative. The current price of 6.67 is below the 20-day moving average (MA) of 8.30, below the 50-day MA of 7.80, and above the 200-day MA of 6.37, indicating a neutral trend. The MACD of 0.04 indicates Positive momentum. The RSI at 26.03 is Positive, neither overbought nor oversold. The STOCH value of 61.58 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MTLS.
Materialise Risk Analysis
Materialise disclosed 72 risk factors in its most recent earnings report. Materialise reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Materialise Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | $202.68M | 34.91 | 3.73% | ― | 10.41% | 10.48% | |
64 Neutral | $400.48M | 26.47 | 5.40% | ― | 10.14% | -10.93% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
56 Neutral | $240.08M | 21.26 | 3.45% | 4.15% | 4.12% | -68.41% | |
51 Neutral | $233.13M | -9.56 | -28.06% | ― | 31.86% | 33.91% |
* Technology Sector Average
MTLS
Materialise
7.24
1.58
27.92%
IMMR
Immersion
7.30
0.97
15.38%
PERF
Perfect Corp
1.99
0.04
2.05%
SVCO
Silvaco Group, Inc.
6.73
1.15
20.61%
Materialise Corporate Events
Materialise Posts Modest Q3 2026 Growth as Medical Segment Leads, Margins Tighten
Oct 29, 2026
In the third quarter of 2026, Materialise NV recorded a 2.1% year-on-year revenue increase to €67.67 million, driven primarily by a 9.7% rise in its Medical segment to €36.54 million, while Software and Manufacturing revenues declined....
Materialise Posts Q3 2026 Revenue Growth and Reaffirms Full-Year Guidance
Oct 28, 2026
Materialise reported its third-quarter 2026 results on October 28, 2026, posting total revenue of 67.7 million euros, up 2.1% year on year and 4.9% excluding revenue from recently divested Manufacturing assets. The Medical segment drove growth wit...
Materialise Updates Share Buyback, Now Holding 3% of Outstanding Shares
Oct 26, 2026
Materialise NV reported on October 26, 2026 the latest progress in its share buyback program, originally announced on October 30, 2025 and executed via an independent financial intermediary for up to EUR 30 million in repurchases. Between October ...
Materialise Expands Share Buyback to 2.9% of Outstanding Stock
Oct 20, 2026
Materialise NV, a Belgian 3D printing software and services provider, leverages over three decades of additive manufacturing expertise to deliver open, secure end-to-end solutions for industrial and customized applications. The company serves dive...
Materialise Expands Share Buyback, Now Holding 2.8% of Outstanding Shares
Oct 13, 2026
Materialise NV disclosed the latest progress in its share buyback program, originally announced on October 30, 2025, highlighting recent purchases on October 12, 2026. The program authorizes an independent financial intermediary to repurchase shar...
Materialise Expands Share Buyback, Now Holding 2.5% of Its Own Shares
Oct 5, 2026
Materialise NV, a Belgium-based 3D printing software and services provider, leverages over thirty years of additive manufacturing experience to deliver secure, flexible solutions for industrial production and mass personalization. With major opera...
Materialise Updates Progress of €30 Million Share Buyback Program
Sep 28, 2026
Materialise NV reported the latest progress in its share buyback program on September 28, 2026, detailing repurchases executed between September 21 and 25, 2026. Over that week, the company bought 31,306 shares on Nasdaq at an average price of ...
Materialise Expands Share Buyback, Reaching 2.3% of Outstanding Shares
Sep 21, 2026
Materialise NV reported the latest activity in its previously announced share buyback program, detailing purchases executed between September 14 and September 18, 2026. The company is repurchasing its American Depositary Shares and ordinary shares...
Materialise Updates Share Buyback Progress, Now Holding 2.2% of Outstanding Shares
Sep 14, 2026
On September 14, 2026, Materialise reported recent activity under its ongoing share buyback program, originally announced on October 30, 2025 and executed via an independent financial intermediary with an authorization of up to EUR 30 million. Bet...
Materialise Expands Share Buyback to 2.2% of Outstanding Shares
Sep 8, 2026
Materialise NV disclosed the latest weekly progress in its ongoing share buyback program that was launched on October 30, 2025, under a mandate allowing repurchases of up to EUR 30 million. In the period from August 31 to September 4, 2026, the co...
Materialise to Resume Share Buyback Program After Renewal of Authorization
Aug 28, 2026
On August 28, 2026, Materialise NV announced it will restart its American Depositary Shares buyback program, with repurchases resuming from August 31, 2026, following the end of a closed period and the renewal of the underlying authorization. The ...
Materialise Half-Year 2026 Report Highlights Portfolio Refocus and Growth in Medical, Software and Aerospace
Aug 27, 2026
On August 27, 2026, Materialise NV published its unaudited half-year report for the six months ended June 30, 2026, detailing progress on its strategic priorities across medical, software and manufacturing operations. The company also reiterated i...
Materialise Delivers Strong Q2 2026 Results and Refocuses Portfolio on High-Value 3D-Printing Segments
Aug 27, 2026
Materialise reported on August 27, 2026 that its second-quarter 2026 revenue rose 8.1% year on year to €70.1 million, with net profit jumping to €3.3 million from €0.2 million and adjusted EBITDA up 15.7%. Growth was driven by do...
Materialise Posts Strong Turnaround in Q2 and First-Half 2026 Results
Aug 27, 2026
In its second-quarter 2026 results, Materialise reported an 8.1% year-on-year revenue increase to 70.1 million euros, driven by 12.2% growth in its Medical segment and 6.7% growth in Manufacturing, while Software revenue slipped modestly. Despite ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.