Forensic Analysis · General / Diversified · as of Jun 28, 2026
Mativ Holdings, Inc. (MATV)
A forensic read on Mativ Holdings, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Distress
Financial health
-0.1
Altman Z-score
Clean
Earnings quality
4
Forensic signals
5.9
P / E (ttm)
17.1%
ROE
$451M
Market cap
5.00%
Dividend yield
Mativ Holdings, Inc. earns a D (Weak — demands caution) forensic quality grade, and its Altman Z-score is -0.1, placing it in the Distress zone. 4 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-18%Return on invested capital.Return on invested capital is -18% and slipping from -1% — well below its ~9% cost of capital, so reinvested dollars may be destroying value, not building it.
+9.6%/yrShare-count dilution.Diluted share count changed +29% over the last 3 years to FY2025 (+9.6%/yr). The count is GROWING — existing holders are being diluted. That's ~9.6% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2022 has been diluted ~29%.
$813MGoodwill impairments.Took $813M of goodwill writedowns across 2 year(s) (FY2023 ($401M), FY2025 ($412M)). Writedowns mean past acquisitions underperformed what was paid for them — worth weighing on capital-allocation skill.
-61%Dividend — cut.The payout was CUT ~61% in FY2024 (from FY2023). It still returns some cash, but it is NOT the dependable, rising dividend an unbroken streak implies — weigh the cut when judging reliability.
Key fundamentals
Net Margin-17.0%
Debt / Equity2.04x
Free Cash Flow$93.8M
Latest Revenue$1.99B
Return on Equity-67.7%
Revenue Growth YoY+0.3%
Go deeper — free with an account
The forensic grade and screens above are free — no account needed. An account adds the full interactive deep-dive on Mativ Holdings, Inc.:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about MATV's filings — AI Q&A across the 10-K, 10-Qs & 8-Ks
🔒Interactive valuation — reverse-DCF sliders, Monte Carlo & scenario stress
🔒Calibrated 12-month price forecast, with the math shown