Mativ Holdings, Inc. (MATV) · 10+ Years of Financial statements

Income Statement	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Sales/Revenue/Turnover	740	740	816	788	773	794	764	840	982	1,041	1,023	1,074	1,440	2,167	2,026
+ Sales & Services Revenue	740	740	816	788	773	794	764	840	982	1,041	1,023	1,074	1,440	2,167	2,026
- Cost of Revenue	559	544	576	537	520	576	540	583	700	763	733	766	1,110	1,730	1,670
+ Cost of Goods & Services	559	544	576	537	520	576	540	583	700	763	733	766	1,110	1,730	1,670
Gross Profit	181	197	240	251	253	219	224	257	282	278	290	308	330	438	356
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	78	74	107	90	86	100	107	125	150	142	152	168	237	367	346
+ Selling, General & Admin	70	65	82	77	71	84	93	108	132	127	139	154	217	340	325
+ Research & Development	8	8	9	10	15	16	14	18	18	15	14	14	20	27	21
+ Other Operating Expense	- -	- -	16	2	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income (Loss)	103	123	133	161	166	119	118	132	133	137	138	141	93	71	10
- Non-Operating (Income) Loss	56	15	19	30	38	11	12	38	31	20	41	43	20	95	491
+ Interest Expense, Net	5	2	3	3	3	7	10	17	27	28	36	30	46	86	62
+ Interest Expense	5	2	3	3	3	7	10	17	27	28	36	30	46	86	62
- Interest Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	51	13	17	26	36	4	2	22	4	-8	5	13	-26	9	428
Pretax Income	47	108	114	132	128	108	106	93	102	117	97	97	73	-24	-481
- Income Tax Expense (Benefit)	13	40	31	52	53	20	22	15	70	11	15	18	-9	-13	27
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	36	71	88	84	78	90	90	83	34	95	86	84	89	-7	-508
- Net Extraordinary Losses (Gains)	- -	6	-5	4	2	- -	1	- -	- -	- -	- -	- -	- -	- -	-198
+ Discontinued Operations	-24	-6	5	-4	-2	- -	-1	- -	- -	- -	- -	- -	87	62	198
+ Extraord. & Accounting Changes	24	12	-10	8	5	- -	2	- -	- -	1	- -	- -	-87	-62	-396
Income (Loss) Incl. MI	36	65	93	80	76	90	90	83	34	94	86	84	89	-7	-310
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	36	65	93	80	76	90	90	83	34	94	86	84	89	-7	-310
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	36	65	93	80	76	90	90	83	34	94	86	84	89	-7	-310
Basic Weighted Avg Shares	31	35	33	31	31	30	30	30	30	31	31	31	31	42	55
Basic EPS, GAAP	1.14	1.85	2.79	2.58	2.45	2.97	2.97	2.73	1.13	3.09	2.8	2.72	2.86	-0.16	-5.68
Basic EPS from Cont Ops	1.14	2.02	2.64	2.7	2.53	2.97	2.99	2.73	1.13	3.1	2.8	2.72	2.86	-0.16	-9.31
Diluted Weighted Avg Shares	32	36	33	31	31	30	30	30	31	31	31	31	31	42	55
Diluted EPS, GAAP	1.11	1.81	2.77	2.55	2.44	2.95	2.95	2.72	1.13	3.08	2.78	2.69	2.83	-0.16	-5.68
Diluted EPS from Cont Ops	1.11	1.98	2.62	2.67	2.51	2.95	2.98	2.72	1.13	3.09	2.78	2.69	2.83	-0.16	-9.31
EBITDA	147	163	177	201	204	164	159	176	192	198	195	213	186	200	158
EBITDA Margin (%)	19.87	22.02	21.66	25.48	26.33	20.68	20.76	20.98	19.58	19.04	19.1	19.82	12.92	9.22	7.77
EBITA	103	123	133	161	166	119	118	132	133	137	138	141	93	71	10
EBIT	103	123	133	161	166	119	118	132	133	137	138	141	93	71	10
Gross Margin (%)	24.47	26.56	29.47	31.84	32.7	27.55	29.37	30.56	28.74	26.75	28.35	28.7	22.94	20.19	17.56
Operating Margin (%)	13.94	16.62	16.32	20.48	21.51	15.01	15.39	15.68	13.52	13.13	13.46	13.1	6.49	3.26	0.48
Profit Margin (%)	4.81	8.82	11.35	10.13	9.85	11.29	11.74	9.86	3.51	9.08	8.39	7.8	6.17	-0.3	-15.28
Sales per Employee	255,310	264,357	291,500	281,263	257,600	264,767	246,484	279,967	272,806	297,514	300,824	298,444	282,353	288,987	375,185
Dividend per Share	0.31	0.31	0.3	0.46	1.27	1.47	1.55	1.63	1.71	1.74	1.77	1.78	1.78	1.7	1.01
Depreciation Expense	44	40	44	39	37	45	41	44	60	62	58	72	93	129	148

Balance Sheet	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Total Current Assets	300	313	327	382	535	519	445	364	433	426	428	396	595	975	712
+ Cash, Cash Equivalents & STI	57	87	76	151	272	290	186	107	107	94	103	55	75	124	120
+ Cash & Cash Equivalents	57	87	76	151	272	290	186	107	107	94	103	55	75	124	120
+ ST Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	86	99	112	95	108	94	119	115	149	155	143	148	238	286	207
+ Accounts Receivable, Net	86	99	112	95	108	94	119	115	149	155	143	148	238	267	147
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	20	60
+ Inventories	127	114	114	112	133	108	112	119	155	152	161	180	260	535	353
+ Raw Materials	57	53	48	51	58	51	59	51	60	59	75	73	122	230	142
+ Work In Process	30	24	29	23	24	17	17	24	21	22	21	23	42	80	50
+ Finished Goods	39	37	36	37	51	40	36	45	74	70	65	84	96	224	160
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	30	13	24	24	23	27	26	22	22	26	20	14	22	29	32
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	492	538	518	505	689	667	845	809	1,109	1,037	1,044	1,188	1,818	2,701	1,930
+ Property, Plant & Equip, Net	401	441	429	401	393	362	308	307	362	340	351	359	489	365	736
+ Property, Plant & Equip	876	922	926	915	775	733	663	684	810	792	825	725	1,024	928	942
- Accumulated Depreciation	475	481	497	514	382	371	355	377	448	452	473	366	535	564	206
+ LT Investments & Receivables	17	20	39	61	63	68	68	64	68	52	52	59	65	59	- -
+ LT Investments	17	20	39	61	63	68	68	64	68	52	52	59	65	59	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	74	76	51	42	232	237	470	438	679	645	641	770	1,265	2,278	1,194
+ Total Intangible Assets	14	9	7	18	119	126	233	230	341	338	337	404	641	1,558	1,114
+ Goodwill	9	6	6	6	119	126	233	230	341	338	337	404	641	847	474
+ Other Intangible Assets	5	3	2	12	- -	- -	- -	- -	- -	- -	- -	- -	- -	710	640
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	60	68	44	25	114	112	236	209	338	307	303	367	624	720	80
Total Assets	792	850	845	887	1,224	1,187	1,290	1,174	1,542	1,463	1,472	1,585	2,413	3,676	2,642
+ Payables & Accruals	162	136	94	123	140	121	140	133	142	140	156	164	228	421	267
+ Accounts Payable	47	66	54	46	47	45	49	50	59	66	66	60	116	226	139
+ Accrued Taxes	6	7	4	4	- -	- -	5	5	4	2	3	3	3	11	14
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	109	62	36	73	93	76	86	77	79	73	86	101	109	184	114
+ ST Debt	18	9	5	4	4	3	3	3	5	3	2	3	3	45	14
+ ST Borrowings	18	9	5	4	4	3	3	3	5	3	2	3	3	35	3
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	8	10	11
+ Other ST Liabilities	6	42	42	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	6	6	2	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	- -	36	40	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Current Liabilities	186	187	141	127	144	124	143	136	147	143	158	167	231	466	281
+ LT Debt	42	43	141	152	381	437	568	437	679	619	541	590	1,267	1,720	1,155
+ LT Borrowings	42	43	141	152	381	437	568	437	679	619	541	590	1,267	1,673	1,102
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	3	- -	21	47	54
+ Other LT Liabilities	81	96	88	96	137	137	111	92	170	143	176	178	232	310	257
+ Accrued Liabilities	21	29	20	28	80	71	45	30	42	44	48	45	88	172	142
+ Pension Liabilities	38	46	42	42	29	34	34	33	31	28	32	36	39	82	62
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	22	21	25	26	28	31	32	29	97	70	96	96	106	57	52
Total Noncurrent Liabilities	124	140	228	248	518	574	679	530	849	762	716	768	1,500	2,030	1,412
Total Liabilities	310	326	369	375	662	698	822	665	996	905	874	935	1,731	2,497	1,693
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	208	211	214	44	46	53	57	62	69	74	82	95	105	664	675
+ Common Stock	2	2	2	3	3	3	3	3	3	3	3	3	3	6	5
+ Additional Paid in Capital	206	209	212	41	43	50	54	59	66	71	79	92	102	658	670
- Treasury Stock	14	24	132	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Retained Earnings	282	336	419	483	520	513	553	585	567	608	638	666	696	611	235
+ Other Equity	7	2	-24	-15	-5	-76	-141	-139	-89	-124	-123	-112	-119	-95	39
Equity Before Minority Interest	482	524	476	512	561	489	468	508	547	558	598	650	682	1,179	949
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Equity	482	524	476	512	561	489	468	508	547	558	598	650	682	1,179	949
Total Liabilities & Equity	792	850	845	887	1,224	1,187	1,290	1,174	1,542	1,463	1,472	1,585	2,413	3,676	2,642
Shares Outstanding	36	36	32	31	31	30	30	31	31	31	31	31	31	55	54
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	3	- -	29	58	65
Net Debt	3	-36	70	5	113	150	385	333	577	528	440	539	1,196	1,583	984
Net Debt to Equity	0.66	-6.77	14.6	0.94	20.2	30.63	82.28	65.51	105.6	94.69	73.57	82.91	175.26	134.23	103.72
Tangible Common Equity Ratio	60.18	61.24	55.94	56.87	40.06	34.26	22.2	29.53	17.1	19.54	22.95	20.82	2.34	-17.85	-10.77
Current Ratio	1.61	1.68	2.32	3.01	3.72	4.21	3.11	2.68	2.94	2.97	2.71	2.38	2.57	2.09	2.53
Cash Conversion Cycle	87.06	87.54	81.3	90.8	102.48	92.39	94.12	92.79	93.55	96.58	98.6	101.28	94.13	95.22	89.54
Number of Employees	2,900	2,800	2,800	2,802	3,000	3,000	3,100	3,000	3,600	3,500	3,400	3,600	5,100	7,500	5,400

Cash Flow Statement	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
+ Net Income	36	71	88	84	78	90	90	83	34	95	86	84	89	-7	-508
+ Depreciation & Amortization	44	40	44	39	37	45	41	44	60	62	58	72	93	129	148
+ Non-Cash Items	18	26	-20	45	59	13	- -	13	49	3	19	11	-128	-62	456
+ Stock-Based Compensation	8	8	4	7	3	6	4	6	7	5	8	9	8	20	10
+ Deferred Income Taxes	9	25	-16	18	17	3	-7	-14	38	-8	7	-6	-33	-32	24
+ Asset Impairment Charge	12	4	7	26	37	- -	7	21	5	- -	1	- -	2	14	419
+ Other Non-Cash Adj	-12	-12	-14	-5	2	4	-3	- -	-1	6	3	8	-105	-65	3
+ Chg in Non-Cash Work Cap	-20	27	-24	2	1	19	13	-11	-12	-21	-2	-6	-61	64	-20
+ (Inc) Dec in Accts Receiv	6	-16	-26	15	4	13	-18	3	-1	-18	11	-5	-28	157	2
+ (Inc) Dec in Inventories	-2	10	-4	-1	-1	15	1	-7	-6	-5	-11	-4	-31	-82	52
+ (Inc) Dec in Prepaid Assets	1	- -	- -	- -	- -	-1	1	- -	1	- -	- -	1	1	- -	- -
+ Inc (Dec) in Accts Payable	-26	33	6	-12	-3	-9	28	-7	-5	-1	-1	2	-3	-10	-74
+ Inc (Dec) in Other	- -	- -	- -	- -	- -	- -	- -	- -	- -	4	- -	- -	- -	- -	- -
+ Net Cash From Disc Ops	-14	-23	-6	1	2	- -	- -	- -	- -	- -	- -	- -	66	78	30
Cash from Operating Activities	63	141	82	172	178	166	145	130	131	139	160	162	58	202	107
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-26	-92	-64	-28	-30	-36	-25	-31	-41	-30	-34	-33	-22	-48	-66
+ Acq of Fixed Prod Assets	-21	-83	-62	-28	-30	-36	-25	-31	-41	-30	-34	-33	-22	-48	-66
+ Acq of Intangible Assets	-6	-9	-1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Change in LT Investment	- -	- -	-12	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	36	- -
+ Dec in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	36	- -
+ Inc in LT Investment	- -	- -	-12	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Acq & Div	- -	- -	-12	-18	-231	-41	-281	- -	-292	- -	- -	-169	-631	-462	- -
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	- -	- -	-12	-18	-231	-41	-281	- -	-292	- -	- -	-169	-631	-462	- -
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	6	11	16	-3	7	3	-8	8	14	2	19	- -	16	-6	614
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-18	-12	609
Cash from Investing Activities	-20	-81	-72	-49	-254	-74	-314	-22	-318	-28	-15	-203	-636	-481	547
+ Dividends Paid	-10	-11	-10	-14	-40	-44	-47	-49	-52	-53	-54	-55	-55	-72	-55
+ Net Cash From Debt	-113	43	100	11	228	58	150	-135	232	-60	-80	47	673	433	-595
+ Cash From Debt	34	48	229	40	456	228	488	36	440	634	19	213	744	772	241
+ Repayments of Debt	-146	-5	-128	-29	-228	-171	-339	-171	-209	-694	-100	-165	-71	-340	-836
+ Cash (Repurchase) of Equity	117	-19	-121	-50	-2	-52	-3	-1	-1	-3	-1	-1	-3	-7	-11
+ Increase in Capital Stock	117	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	-1	-19	-121	-50	-2	-52	-3	-1	-1	-3	-1	-1	-3	-7	-11
+ Other Financing Activities	7	-44	12	2	1	- -	-7	- -	1	-5	- -	- -	-15	-22	-2
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	1	-31	-18	-51	187	-39	92	-186	180	-121	-136	-9	600	332	-663
Effect of Foreign Exchange Rates	1	1	-2	2	9	-34	-27	-1	8	-4	- -	2	-2	-3	5
Net Changes in Cash	44	29	-9	72	112	52	-77	-78	-8	-9	10	-50	22	52	-9
EBITDA	147	163	177	201	204	164	159	176	192	198	195	213	186	200	158
EBITDA Margin (%)	19.87	22.02	21.66	25.48	26.33	20.68	20.76	20.98	19.58	19.04	19.1	19.82	12.92	9.22	7.77
Net Cash Paid for Acquisitions	- -	- -	12	18	231	41	281	- -	292	- -	- -	169	631	462	- -
Free Cash Flow	37	49	18	144	148	130	120	99	90	109	126	128	36	154	40
Free Cash Flow to Firm	41	50	20	146	150	136	127	113	99	135	157	153	- -	- -	- -
Free Cash Flow to Equity	-70	102	120	155	376	188	269	-36	322	50	46	176	709	587	-554
Free Cash Flow per Basic Share	1.19	1.38	0.54	4.63	4.78	4.29	3.95	3.27	2.97	3.58	4.12	4.16	1.16	3.63	0.74
Price/Free Cash Flow	12.86	4.88	7.68	6.06	7.64	6.47	7.62	8.71	8.15	4.72	6.72	6.36	11.65	3.55	4.88
Cash Flow to Net Income	1.78	2.16	0.88	2.15	2.34	1.85	1.61	1.57	3.8	1.47	1.87	1.93	0.65	-30.64	-0.34

Mativ Holdings, Inc.

MATV US

17.82

17.82