Mativ Holdings, Inc.

Listed Company

MATVCIK 0001000623NYSEAcceleratedPaper MillsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$1.99B

Net Income

$-337.40M

Total Assets

$2.05B

Equity

$498.70M

Shares Out

54.78M

Op. Cash Flow

$133.80M

Business

Mativ Holdings, Inc. is a global specialty materials manufacturer that engineers solutions to connect, protect, and purify across diverse end markets. It produces highly engineered media and converted products including nonwovens, films, nets, specialty papers, release liners, tapes, adhesive systems, and filtration components. The company operates through two reportable segments: Filtration & Advanced Materials (filtration media, advanced films, mesh and related components) and Sustainable & Adhesive Solutions (tapes, labels, liners, paper, packaging and healthcare products). Mativ manufactures on multiple continents and sells globally through direct channels and distributors, delivering by truck, rail and ocean transport.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	1,987	1,981	2,026	1,637	931
Cost of products sold	1,624	1,617	1,670	1,331	748
Gross profit	363	364	356	306	183
Selling and general expense	229	234	264	255	—
Research and development expense	24	23	21	19	12
Intangible asset amortization expense	63	63	61	53	—
Total nonmanufacturing expenses	316	320	346	327	198
Goodwill impairment expense	412	0	401	0	0
Restructuring and other impairment expense	20	38	23	19	2
Operating profit (loss)	−384	6	−414	−40	−16
Interest expense	71	75	62	57	—
Loss on debt extinguishment	0	7	0	0	—
Other expense, net	−8	−3	−5	1	—
Loss from continuing operations before income taxes	−463	−79	−481	−97	−27
Income tax expense (benefit)	−126	−30	27	−28	28
Net loss from continuing operations	−337	−49	−508	−69	2
Income from discontinued operations, net of tax	0	0	198	62	87
Net loss	−337	−49	−310	−7	89
Loss per share from continuing operations (in dollars per share)	−6.19	−0.9	−9.33	−1.64	0.02
Income per share from discontinued operations (in dollars per share)	0	0	3.64	1.46	2.81
Basic (in dollars per share)	−6.19	−0.9	−5.69	−0.18	2.83
Loss per share from continuing operations (in dollars per share)	−6.19	−0.9	−9.33	−1.64	0.02
Income per share from discontinued operations (in dollars per share)	0	0	3.64	1.46	2.78
Diluted (in dollars per share)	−6.19	−0.9	−5.69	−0.18	2.8
Basic (in shares)	55	54	55	42	31
Diluted (in shares)	55	54	55	42	31

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	84	94	120	101	71
Restricted Cash	6	0	—	—	—
Accounts receivable, net	181	162	177	178	238
Inventories, net	329	355	353	415	260
Income taxes receivable	18	21	31	19	10
Other current assets	21	26	32	28	12
Total current assets	639	658	713	975	595
Property, plant and equipment, net	609	620	673	692	462
Finance lease right-of-use assets	16	16	18	17	2
Operating lease right-of-use assets	48	46	46	31	25
Deferred income tax assets	104	8	6	34	34
Goodwill	58	466	474	844	645
Intangible assets, net	514	553	631	710	514
Other assets	64	80	82	110	76
Total assets	2,052	2,448	2,642	3,669	2,420
Current debt	3	3	3	34	3
Finance lease liabilities	2	2	1	900,000	500,000
Operating lease liabilities	9	10	10	9	7
Accounts payable	161	152	139	181	116
Income taxes payable	2	8	14	10	3
Accrued expenses and other current liabilities	109	101	114	129	102
Total current liabilities	285	275	281	466	231
Long-term debt	1,015	1,087	1,102	1,656	1,265
Finance lease liabilities, noncurrent	16	16	18	18	2
Operating lease liabilities, noncurrent	39	36	35	25	19
Pension and other postretirement benefits	54	54	62	60	39
Deferred income tax liabilities	75	101	142	152	95
Other liabilities	69	20	44	32	71
Total liabilities	1,553	1,589	1,693	2,490	1,738
Preferred stock, $0.10 par value per share; 10,000,000 shares authorized; none issued or outstanding	0	0	0	0	0
Common stock, $0.10 par value per share; 100,000,000 shares authorized; 54,681,114 and 54,335,830 shares issued and outstanding at December 31, 2025 and 2024, respectively	6	5	5	6	3
Additional paid-in-capital	685	676	670	659	102
Retained earnings (accumulated deficit)	−196	164	235	611	696
Accumulated other comprehensive income, net of tax	4	13	39	−95	−119
Total stockholders' equity	499	859	949	1,179	682
Total liabilities and stockholders' equity	2,052	2,448	2,642	3,669	2,420

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	141	144	148	110	67
Amortization of deferred issuance costs	8	8	8	6	4
Other impairments	12	16	18	14	2
Deferred income tax	−130	−34	24	−29	−29
Pension and other postretirement benefits	−3	−6	−8	−7	−1
Stock-based compensation	11	11	11	20	9
Loss (gain) on sale of assets	−300,000	6	0	−3	—
Loss (gain) on foreign currency transactions	7	−1	5	−8	−4
Other non-cash items	10	−5	−13	2	−7
Cash received from settlement of interest swap agreements	0	0	16	24	0
Other operating	−4	−2	−5	0	0
Accounts receivable	−15	6	2	157	3
Inventories	19	−26	52	−63	−16
Prepaid expenses	100,000	2	−200,000	−200,000	900,000
Accounts payable and other current liabilities	8	21	−64	−15	−3
Accrued income taxes	−5	−3	−9	−16	1
Net changes in operating working capital	8	100,000	−20	63	−15
Continuing operations	134	95	77	125	−8
Discontinued operations	0	0	30	78	66
Net cash provided by operations	134	95	107	202	58
Capital spending	−40	−55	−66	−46	−19
Proceeds from sale of assets	3	6	0	8	35
Cash received from (paid on) settlement of cross-currency swap contracts	3	−2	0	36	—
Other investing	−3	6	5	−2	−800,000
Continuing operations	−37	−45	−61	−469	−618
Discontinued operations	0	−12	609	−12	−18
Net cash provided by (used in) investing	−37	−57	547	−481	−636
Cash dividends paid	−22	−22	−55	−72	−55
Proceeds from long-term debt	82	531	241	775	744
Payments on long-term debt	−162	−555	−835	−341	−54
Payments for debt issuance costs	0	−8	−2	−22	−15
Payments on financing lease obligations	−3	−2	−1	−600,000	−15
Purchases of common stock and shares withheld for employee taxes	−1	−800,000	−11	−7	—
Continuing operations	−107	−56	−662	333	601
Discontinued operations	0	0	−900,000	−1	−700,000
Net cash used in financing	−107	−56	−663	332	600
Effect of exchange rate changes on Cash and cash equivalents and Restricted cash	5	−8	5	−3	−2
Decrease in Cash and cash equivalents and Restricted cash	−5	−26	−4	50	20
Cash paid for interest, net	83	91	121	85	47
Cash paid for taxes, net	12	15	38	26	22
Capital spending in accounts payable and accrued liabilities	5	7	10	15	6

Filings

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