Materion Corporation (MTRN)
🔔 Watch stock
symbol.quality_heading
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
Whoever buys today is betting that the critical-minerals and semiconductor/data-center themes fire before the falling value-added catches up with the market — and pays 82 times trailing earnings for it. Whoever waits may miss the next momentum surge but can check the decisive second number in every quarterly report (10-Q): not net sales, but value-added — and whether Performance Materials grows again after the precision-clad-strip accident. If value-added turns up, the story becomes real; if it stays down, you are paying for a narrative. The decision is yours.
symbol.quality_note
Materion (NYSE: MTRN) from Ohio reported record net sales of $1.79 billion for 2025 (+6 percent) and jumped another 31 percent in the first quarter of 2026 — the stock sits roughly 114 percent above a year ago, and it ranks third of 75 in our in-house Joshua growth scanner (as of July 17, 2026). We read the annual reports (10-K) for 2024 and 2025 and the quarterly report (10-Q) as of April 3, 2026 — and found an uncomfortable second number: value-added sales, which strip out pass-through metal costs, have fallen since 2023, from $1,127 to $1,046 million. Not investment advice — just the question of how much of a record top line belongs to the company, and how much merely flows through its books.
Read the analysis
Stock Watch
This analysis is as of July 17, 2026. Stock Watch will tell you what's changed at MTRN since then.
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Appears in These Scanners
This stock currently matches 18 of our scanner strategies — each hit links to the scanner.
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners
Trading Day
Key levels of the most recently completed trading day — not a live quote.
52-Week Range
Current price 210.80 $ — 55% of the range above the low.
Lowest and highest closing price over the last 52 weeks. The marker shows where the current price sits within that range: close to the high speaks for strength, close to the low for weakness.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 08/03/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
Quality & Screener
AI Rating
NeutralIn den sechs ausgewerteten Filings (2×10-K für 2025 und 2024, 4×10-Q Q1 2025 bis Q1 2026) findet sich kein einziger Beleg für künstliche Intelligenz: kein KI-Produkt und keine KI-Umsatzquelle (also kein „verkauft“), keine Risk-Factor-Passage, die KI als konkretes Geschäftsrisiko für Materions Materialgeschäft benennt (kein „bedroht“), und keine Erwähnung eines operativen KI-Einsatzes wie interner Effizienz- oder Produkt-KI (kein „nutzt“). Der einzige KI-nahe Bezug ist rein indirekt: Materion beliefert als Werkstoffhersteller unter anderem den Endmarkt „telecom and data center“ (Volumen 2025 +24 %) sowie die Halbleiterindustrie — beides KI-getriebene Nachfragefelder, aber Materion verkauft dort Materialien, keine KI. Damit ist keine der drei positiven Kategorien belegt; dokumentierter Negativ-Befund → neutral.
View the full file — quotes, sources, reviewed filings
Filings Reviewed: 10-K 2026-02-12 · 10-K 2025-02-19 · 10-Q 2026-04-29 · 10-Q 2025-10-30 · 10-Q 2025-07-30 · 10-Q 2025-05-01
Rated on July 17, 2026 · How the Rating Is Built
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Analysts & Price Target
The price target sits 19.9% above the current price.
- Consensus
- Sell
- Analyst Ratings
- 3
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | 6.45 | 6.32 – 6.62 | 2,217 | 18.5% | 5 |
| 12/31/2027 | 7.60 | 6.85 – 8.39 | 2,384 | 17.8% | 5 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Next Reporting Date
- Expected Earnings per Share
- 1.55 $
Expected date of the next quarterly or annual figures. Dates do shift occasionally — only the invitation issued by the company is binding.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
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· Total · per year
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The figures could not be loaded right now.
Source: fundamental data
Quarterly Figures
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | -2.33 | -351.10 | 437 | 3.70 | -11.20 | 76 | 57 |
| 2025: Q1 | 0.85 | 32.40 | 420 | 9.10 | 4.20 | 16 | -6 |
| 2025: Q2 | 1.21 | 32.60 | 432 | 1.40 | 5.80 | 47 | 33 |
| 2025: Q3 | 1.22 | 14.20 | 445 | 1.90 | 5.70 | 18 | -5 |
| 2025: Q4 | 0.31 | – | 490 | 12.10 | 1.30 | 20 | -1 |
| 2026: Q1 | 0.92 | 9.00 | 550 | 30.80 | 3.50 | -4 | -20 |
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Annual Figures
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 969 | 29 | 26 | 1.27 | 67 | 494 | 741 |
| 2017 | 1,139 | 40 | 11 | 0.56 | 68 | 495 | 791 |
| 2018 | 1,208 | 62 | 21 | 1.01 | 76 | 554 | 800 |
| 2019 | 1,185 | 71 | 53 | 2.59 | 99 | 646 | 898 |
| 2020 | 1,176 | 8 | 15 | 0.75 | 101 | 656 | 1,058 |
| 2021 | 1,511 | 77 | 72 | 3.50 | 90 | 720 | 1,607 |
| 2022 | 1,757 | 120 | 86 | 4.14 | 116 | 800 | 1,692 |
| 2023 | 1,665 | 136 | 96 | 4.58 | 144 | 885 | 1,763 |
| 2024 | 1,685 | 47 | 6 | 0.28 | 88 | 869 | 1,698 |
| 2025 | 1,787 | 116 | 75 | 3.58 | 103 | 943 | 1,803 |
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Assessment: Opportunities & Risks
The record top line deceives: $740.4 million (41 percent) of 2025 net sales was merely pass-through metal cost, and value-added excluding those costs has fallen for three years ($1,127 → $1,098 → $1,046 million). In the first quarter of 2026 net sales jumped 31 percent, $132.6 million of it pure metal-price pass-through — while value-added stagnated (10-K 2025 / 10-Q Q1 2026).
The highest-margin segment is faltering: value-added down 10 percent to $618.1 million in 2025, and down another 13 percent in Q1 2026 — triggered by a quality issue at the flagship precision clad strip that forced Materion to idle production lines ($25.7 million charge, 10-K 2025).
Materion operates the world's largest bertrandite mine in Utah and is vertically integrated from ore to component for aerospace, defense and energy — a hard-to-replace asset in an age of critical minerals and domestic supply chains (10-K 2025, Item 1). The berylliosis (CBD) legacy is real but had no pending case as of 12/31/2025.
$943.3 million of equity, an Altman Z around 8.4, $103.2 million of operating cash flow, a dividend for years — solid. But cash is thin at $13.7 million, roughly $526 million of precious metals sits only on consignment (fees rise with the metal price), and in 2024 $73.2 million of impairments weighed on the capital-allocation record (10-K 2024/2025).
Strong momentum (Stan Weinstein stage-2, RS 95, roughly +114 percent year to date, Joshua rank 3) meets a trailing P/E around 82, an EPS rating of 57 and a Piotroski score of 5 of 9 (data as of July 10–14, 2026). The market is paying for a raw-material/semiconductor story that the falling value-added does not currently cover.
Materion is a profitable industrial company with a rare raw-material asset — the world's largest bertrandite mine in Utah — and a solid balance sheet. But the celebrated record top line was 41 percent merely pass-through metal in 2025, and the number that truly belongs to the company (value-added sales) has fallen for three years; on top, two consecutive operational accidents (the 2024 optics impairment, the 2025 beryllium-strip quality issue) weighed on results. At 82 times trailing earnings the market is paying for the raw-material story, not the shrinking present. Not investment advice.
- MTRN reached our research list via rank 3 of 75 in the in-house Joshua growth scanner (as of July 17, 2026); its revenue-growth criterion measures net sales (Q1 2026: +30.8 percent) — which are largely made of pass-through metal prices. That is not a flaw of the scanner, but a reason to look under the growth label.
- Scanner metrics (P/E, EPS rating, Piotroski, Altman Z) are computed from trailing twelve-month figures; the 2024 earnings collapse (impairments) and the 2025 one-time charge ($25.7 million) are baked in, a potential raw-material/semiconductor surge naturally is not.
- Price and valuation figures are dated to July 10–14, 2026 (about $281.80, market value roughly $6.1 billion); analyses are evergreen, daily prices are not a buy argument. Materion's fiscal year matches the calendar year.
About the Company
Materion Corporation produziert gemeinsam mit ihren Tochtergesellschaften fortschrittliche technische Werkstoffe in den USA, Asien, Europa und international. Das Unternehmen ist in vier Segmenten tätig: Performance Materials, Electronic Materials, Precision Optics und Other.
| CEO Insider Trades (12 Mo.) | selling own stock |
|---|---|
| Employees | 3,000 |
| Headquarters | Mayfield Heights, OH |
| Address | 6070 Parkland Boulevard, 44124 Mayfield Heights, United States |
| Phone | 216 486 4200 |
| Website | materion.com |
| IPO Date | 7. Sep 1984 |
| ISIN | US5766901012 |
| Stock Split | 2:1 on 06/25/1984 |
Management
| Name | Title | Birth Year |
|---|---|---|
| Jugal K. Vijayvargiya | CEO, President & Director | 1968 |
| Shelly M. Chadwick | CFO & VP of Finance | 1973 |
| Gregory R. Chemnitz | VP, General Counsel & Secretary | 1958 |
| Melissa A. Fashinpaur | Chief Accounting Officer | 1979 |
| Pankaj Lahoti | Chief Information Officer | – |
| Kyle Kelleher | Director of Investor Relations & Corporate FP&A | – |
| Sam Fulton | Vice President of Strategy & Corporate Development | – |
| Allen F. Reid | Chief Human Resources Officer | – |
| Jason Moore | President of Precision Optics | – |
| Alfonso T. Lubrano | President & CEO of Technical Materials Inc | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Insider Transactions
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| 15. Jul 2026 | Prevost Patrick M. | Director | Other | 81 | 253.27 | 20,515 |
| 15. Jul 2026 | Shular Craig S | Director | Other | 96 | 253.27 | 24,314 |
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
View all insider transactions →Chart
Interactive price chart (TradingView).
Data as of: July 31, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.