MATW on Nasdaq

Matthews International

Logo: matw.com4

Matthews International is an American company based in Pittsburgh.1 Its shares trade on Nasdaq under the symbol MATW.1

Price unavailable

Last updated Oct 21, 2026.

Overview

$1.5BRevenue, fiscal 20255
-$24.5MNet income, fiscal 20255

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  • TickerMATW on Nasdaq1
  • IndustryNonferrous Foundries (Castings)1
  • HeadquartersPittsburgh1
  • Websitewww.matw.com
  • Incorporated inPA6
  • Business addressTwo Northshore Center, Pittsburgh, Pa 15212-58516
  • Filer categoryLarge accelerated filer6
  • Legal formBusiness Corporation3
  • LEI549300ZVC5O0ATML6U613
  • StatusActive3
  • LEI statusIssued and current3
  • Registered addressC/O Corporation Service Company, 15212 Pittsburgh, United States3
  • Registered withPennsylvania Department of State, 2225373
Matthews International image from its website
Image: matw.com4

In fiscal 2025, approximately 71% of the Company's sales were made from North America, 24% were made from Europe, 3% were made from Asia, and 2% were made from other regions. For further information on segments, see Note 22, "Segment Information" in Item 8 - "Financial Statements and Supplementary Data." Memorialization segment products are sold throughout the world, with the segment's principal operations located in North America, Europe, and Australia. The Industrial Technologies segment sells equipment and consumables directly to industrial consumers and distributors in North America and internationally through the Company's subsidiaries in Sweden, Germany and China, and other foreign distributors. Matthews owns a minority interest in Industrial Technologies product distributors in Asia, Australia and Europe. Prior to the sale of the Company's interest in the SGK Business, products an…7 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

33.9%Gross margin5
5.0%Operating margin5
-1.6%Net margin5
-16.6%Revenue growth, 20255
-5.1%Return on equity5
1.46×Debt to equity5
-$59.4MFree cash flow5

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Memorialization brought in 44% of the revenue Matthews International broke down this way in fiscal 2025.

  1. Memorialization$809.5M544%down 2% from 2024
  2. Brand Solutions$345.9M519%down 35% from 2024
  3. SGK Brand Solutions$345.9M519%down 35% from 2024
  4. Industrial Technologies$342.2M519%down 21% from 2024
Business segments by year
Business segments202320242025
Memorialization$843.0M$829.7M$809.5M
Brand Solutions$532.1M$532.9M$345.9M
SGK Brand Solutions$532.1M$532.9M$345.9M
Industrial Technologies$505.8M$433.2M$342.2M

Regions

North America brought in 71% of the revenue Matthews International broke down this way in fiscal 2025.

  1. North America$1.1B571%down 10% from 2024
  2. Europe$357.1M524%down 32% from 2024
  3. Asia$50.0M53%down 24% from 2024
  4. AUMember$17.5M51%down 11% from 2024
  5. Central and South America$3.1M50%down 43% from 2024
Regions by year
Regions202320242025
North America$1.2B$1.2B$1.1B
Europe$572.7M$522.2M$357.1M
Asia$63.7M$66.0M$50.0M
AUMember$19.9M$19.5M$17.5M
Central and South America$5.3M$5.5M$3.1M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue66¢$990.1M
  • Research and development1¢$16.7M
  • Other costs30¢$450.2M
  • Income tax3¢$40.7M

Out of $1.5B in revenue.5 The company lost money this year.

Financial statements

Revenue891011125$1.5B in 2025−7% since 2018
0$500.0M$1.0B$1.5B$2.0B2018: $1.6B$1.6B20182019: $1.5B$1.5B2019−4%2020: $1.5B$1.5B2020−3%2021: $1.7B$1.7B2021+12%2022: $1.8B$1.8B2022+5%2023: $1.9B$1.9B2023+7%2024: $1.8B$1.8B2024−5%2025: $1.5B$1.5B2025−17%
Gross profit891011125$507.6M in 2025−13% since 2018
0$200.0M$400.0M$600.0M2018: $584.2M$584.2M20182019: $542.5M$542.5M2019−7%2020: $497.8M$497.8M2020−8%2021: $541.8M$541.8M2021+9%2022: $522.3M$522.3M2022−4%2023: $577.7M$577.7M2023+11%2024: $529.7M$529.7M2024−8%2025: $507.6M$507.6M2025−4%
Operating income891011125$75.5M in 2025−46% since 2018
-$100.0M0$100.0M$200.0M2018: $138.6M$138.6M20182019: $10.3M$10.3M2019−93%2020: -$64.2M-$64.2M20202021: $42.0M$42.0M20212022: -$43.9M-$43.9M20222023: $88.1M$88.1M20232024: -$12.3M-$12.3M20242025: $75.5M$75.5M2025
Net income891011125-$24.5M in 2025
-$100.0M0$100.0M$200.0M2018: $107.4M$107.4M20182019: -$38.0M-$38.0M20192020: -$87.2M-$87.2M2020+129%2021: $2.9M$2.9M20212022: -$99.8M-$99.8M20222023: $39.3M$39.3M20232024: -$59.7M-$59.7M20242025: -$24.5M-$24.5M2025−59%

Every line of the income statement as filed: the last 3 fiscal years, latest first.5

Period ending2025-09-302024-09-302023-09-30
Sales$1.5B$1.8B$1.9B
Cost of sales-$990.1M-$1.3B-$1.3B
Gross profit$507.6M$529.7M$577.7M
Selling expense-$117.9M-$141.9M-$140.1M
Administrative expense-$349.3M-$346.4M-$307.4M
Intangible amortization-$20.1M-$37.0M-$42.1M
Goodwill write-downs$0-$16.7M$0
Operating profit (loss)$75.5M-$12.3M$88.1M
Interest expense-$62.9M-$50.5M-$44.6M
Other income (deductions), net$3.7M-$6.8M-$2.6M
Income (loss) before income taxes$16.2M-$69.7M$40.9M
Income tax (provision) benefit-$40.7M$10.0M-$1.8M
Net (loss) income-$24.5M-$59.7M$39.1M
Net loss attributable to noncontrolling interests$0$0$155.0K
Net (loss) income attributable to Matthews shareholders-$24.5M-$59.7M$39.3M
Basic (in dollars per share)-$0.79-$1.93$1.28
Diluted (in dollars per share)-$0.79-$1.93$1.26

Compare Matthews International with another company

Corporate structure

Matthews International sits at the top of its group. 3 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Matthews International

  • Matthews International Pittsburgh, Pennsylvania, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Matthews International reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Finance-lease assets$31.6M5 Sep 30, 2025$26.4M5 Sep 30, 2024+19.7%
Operating-lease assets (leased space)$51.6M5 Sep 30, 2025$60.5M5 Sep 30, 2024−14.7%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$32.4M5 Sep 30, 2025$40.8M5 Sep 30, 2024−20.5%
Stakes in other companies (equity method)$214.1M5 Sep 30, 2025$349.0K5 Sep 30, 2024+61256.2%
Long-term investments$288.6M5 Sep 30, 2025$23.1M5 Sep 30, 2024+1150.8%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$487.6M5 Sep 30, 2025$697.1M5 Sep 30, 2024−30.1%
Intangible assets, net (excluding goodwill)$106.0M5 Sep 30, 2025$126.0M5 Sep 30, 2024−15.9%
Accumulated amortization$142.5M5 Sep 30, 2025$455.7M5 Sep 30, 2024−68.7%
Finite-lived intangibles, net$106.0M5 Sep 30, 2025$126.0M5 Sep 30, 2024−15.9%

Inventory

ItemLatestA year beforeChange
Inventory, total$202.8M5 Sep 30, 2025$237.9M5 Sep 30, 2024−14.7%
Raw materials$60.6M5 Sep 30, 2025$61.3M5 Sep 30, 2024−1.2%
Work in process$56.4M5 Sep 30, 2025$96.5M5 Sep 30, 2024−41.6%
Finished goods$85.8M5 Sep 30, 2025$80.1M5 Sep 30, 2024+7.2%

Properties, in its own words

The Company's facilities provide adequate space for meeting its near-term production requirements. The Company believes that its existing facilities are suitable for the conduct of its businesses. Significant principal properties of the Company and its majority-owned subsidiaries as of October 31, 2025 were as follows (properties, which are unencumbered, are owned by the Company except as noted):

Location · Description of Property

The rest of Item 2

Apopka, FL · Manufacturing / Division Offices

Aurora, IN · Manufacturing

Colorno, Italy · Manufacturing

Dallas, TX · Distribution Hub · (1)

Dandenong, Australia · Manufacturing · (1)

Elberton, GA · Manufacturing

Fontana, CA · Distribution Hub · (1)

Harrisburg, PA · Distribution Hub · (1)

Indianapolis, IN · Distribution Hub · (1)

Mississauga, Canada · Manufacturing / Division Offices

Monterrey, Mexico · Manufacturing · (1)

Pittsburgh, PA · Manufacturing / Division Offices

Richmond, IN · Manufacturing

Searcy, AR · Manufacturing

Stone Mountain, GA · Distribution Hub · (1)

Whittier, CA · Manufacturing · (1)

York, PA · Manufacturing

Cincinnati, OH · Manufacturing / Distribution

Fribourg, Switzerland · Manufacturing · (1)

Gothenburg, Sweden · Manufacturing / Distribution · (1)

Holoubkov, Czech Republic · Manufacturing

Lima, Costa Rica · Manufacturing · (1)

Mönchengladbach, Germany · Manufacturing · (1)

Pewaukee, WI · Manufacturing · (1)

Pittsburgh, PA · Division Offices

San Antonio, TX · Manufacturing

Vreden, Germany · Manufacturing · (2)

Izmir, Turkey · Manufacturing

Corporate and Administrative Offices:

Pittsburgh, PA · General Offices

(1)These properties are leased by the Company under operating lease arrangements.

(2)The Vreden, Germany location represents a shared facility for both the Industrial Technologies and Brand Solutions segments.

Item 2 of the 10-K filed Nov 21, 2025.7

Leadership

Who has led Matthews International, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (44)

Subsidiaries and ownership

Subsidiaries

From Wikidata.1

Acquisitions

  1. Jun 9, 2015Matthews Aurora Funeral Solutions became a subsidiary1

Former names

  • MATTHEWS INTERNATIONAL CORPJul 26, 1995 to Oct 5, 20266

Timeline

  1. Oct 1, 20268-K Executive or director change; Regulation FD disclosure82
  2. Sep 4, 20268-K Entered a material agreement; New debt or obligation83
  3. Aug 31, 2026New chief executive Michael J. Whitehead becomes CEO17
  4. Aug 11, 20268-K Executive or director change; Regulation FD disclosure84
  5. Aug 7, 20268-K Results of operations; Regulation FD disclosure85
  6. Aug 4, 20268-K Executive or director change; Regulation FD disclosure86
  7. Jul 30, 20268-K Regulation FD disclosure87
  8. May 1, 20268-K Results of operations; Regulation FD disclosure88
  9. Apr 30, 20268-K Regulation FD disclosure89
  10. Apr 10, 20268-K Executive or director change90
  11. Mar 10, 20268-K Regulation FD disclosure91
  12. Feb 19, 20268-K Executive or director change; Bylaws or fiscal year changed; Shareholder vote92
  13. Feb 17, 20268-K Entered a material agreement; New debt or obligation93
  14. Nov 17, 2006New chief executive Joseph C. Bartolacci becomes CEO18
  15. Aug 20, 2004New chief executive Martin J. Beck becomes CEO19
  16. Jun 30, 2003New chief executive David M. Kelly becomes CEO20
  17. Apr 7, 1902Founded Matthews International is founded3

Calendar

Coming up

  1. Nov 19, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported $0.50 a share, on Nov 20, 2025.94

When it reported results

  1. Aug 7, 2026Reported quarterly or annual results85
  2. May 1, 2026Reported quarterly or annual results88
  3. Feb 4, 2026Reported quarterly or annual results95
  4. Nov 21, 2025Reported quarterly or annual results96
  5. Nov 13, 2025Reported quarterly or annual results97
  6. Aug 6, 2025Reported quarterly or annual results98
  7. May 1, 2025Reported quarterly or annual results99
  8. Feb 7, 2025Reported quarterly or annual results100

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

435 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 93 major events, 223 insider forms, 27 large holders, 72 other. The latest 20:

  1. Oct 5, 2026SCHEDULE 13G/A EDGAR
  2. Oct 2, 2026SCHEDULE 13G EDGAR
  3. Oct 1, 20268-K 8-K PRESS RELEASE EDGAR
  4. Sep 15, 20264 EDGAR
  5. Sep 4, 20268-K EDGAR
  6. Sep 1, 20264 EDGAR
  7. Aug 31, 20263 EDGAR
  8. Aug 25, 20264 EDGAR
  9. Aug 24, 20264 EDGAR
  10. Aug 20, 20264 EDGAR
  11. Aug 17, 20264 EDGAR
  12. Aug 12, 20264 EDGAR
  13. Aug 11, 20268-K 8-K PRESS RELEASE EDGAR
  14. Aug 10, 2026SCHEDULE 13G EDGAR
  15. Aug 10, 20264 EDGAR
  16. Aug 7, 202610-Q FORM 10-Q FOR THE 3RD QUARTER FISCAL 2026 EDGAR
  17. Aug 7, 20268-K 8-K - 3RD QUARTER FISCAL 2026 EARNINGS PRESS RELEASE EDGAR
  18. Aug 4, 20268-K 8-K - PRESS RELEASE EDGAR
  19. Jul 31, 2026SCHEDULE 13G/A EDGAR
  20. Jul 31, 2026SCHEDULE 13G EDGAR

The 435 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

13 open-market trades by officers, directors and large owners since October 2021: 11 buys and 2 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 11, 2026Nauman J MichaelDirectorBuy1,000$19.99$20.0KForm 4
Aug 24, 2026Nauman J MichaelDirectorBuy1,000$21.08$21.1KForm 4
Aug 20, 2026Nauman J MichaelDirectorBuy1,900$21.96$41.7KForm 4
Aug 19, 2026Nauman J MichaelDirectorBuy100$21.98$2.2KForm 4
Aug 14, 2026Richards Aleta W.DirectorBuy3,000$23.06$69.2KForm 4
Aug 10, 2026Nauman J MichaelDirectorBuy2,000$22.97$45.9KForm 4
Aug 10, 2026SCHAWK DAVID ADirectorBuy5,000$23.60$118.0KForm 4
May 8, 2025Nauman J MichaelDirectorBuy7$19.22$135Form 4
May 7, 2025Nauman J MichaelDirectorBuy1,074$19.10$20.5KForm 4
Feb 24, 2025Nauman J MichaelDirectorBuy4,000$24.59$98.4KForm 4
Aug 9, 2023Richards Aleta W.DirectorBuy1,090$45.60$49.7KForm 4
Nov 21, 2022BARTOLACCI JOSEPH CPresident and CEOSale10,000$30.17$301.7KForm 4
Aug 8, 2022Awenowicz Ronald CSVP, HRSale398$25.92$10.3KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Joseph C. BartolacciDirector, President and Chief Executive Officer$1.1M$5.7M111
2025Steven F. NicolaChief Financial Officer and Treasurer$666.5K$2.0M111
2025Steven D. GackenbachExecutive Vice President (Group President, Memorialization)$543.1K$1.6M111
2025Brian D. WaltersExecutive Vice President, General Counsel, and Corporate Secretary$479.4K$1.4M111
2025Lee A. LaneExecutive Vice President (Group President, Industrial Technologies and Matthews Environmental Solutions)$461.1K$1.1M111
2024Joseph C. BartolacciDirector, President and Chief Executive Officer$1.1M$5.8M111
2024Steven F. NicolaChief Financial Officer and Treasurer$659.5K$2.2M111
2024Steven D. GackenbachExecutive Vice President (Group President, Memorialization)$528.2K$1.8M111
2024Brian D. WaltersExecutive Vice President, General Counsel, and Corporate Secretary$466.5K$1.4M111
2023Joseph C. BartolacciDirector, President and Chief Executive Officer$1.0M$6.5M111
2023Steven F. NicolaChief Financial Officer and Treasurer$632.9K$2.3M111
2023Steven D. GackenbachExecutive Vice President (Group President, Memorialization)$503.4K$1.7M111
2023Brian D. WaltersExecutive Vice President, General Counsel, and Corporate Secretary$444.7K$1.3M111

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$246.4M 2008–2026
Figures by year
YearFederal contractsTotal
2026$11.0M$11.0M
2025$6.6M$6.6M
2024$12.9M$12.9M
2023$15.1M$15.1M
2022$24.9M$24.9M
2021$20.5M$20.5M
2020$5.5M$5.5M
2019$11.3M$11.3M
2018$11.9M$11.9M
2017$13.0M$13.0M
2016$3.0M$3.0M
2015$15.2M$15.2M
2014$21.3M$21.3M
2013$18.8M$18.8M
2012$19.5M$19.5M
2011$730.9K$730.9K
2010$59.7K$59.7K
2008$35.0M$35.0M

Federal awards

Obligated amounts from USAspending.gov112, by calendar year, 2008–2026, for 2 registered units, including subsidiaries under the same parent. Obligations are what agencies committed, not always what was paid out. Contracts pay for goods and services; grants, loans and direct payments are assistance. Loans are charted at the face value of the loans listed here. An award’s amount below is its lifetime total, and some began before the years charted.

Largest contracts

  1. Oct 1, 2014$19.4M from Department of Veterans Affairs: Flat bronze markers113 To MATTHEWS INTERNATIONAL CORPORATION Award VA78615J0042
  2. Oct 1, 2012$18.8M from Department of Veterans Affairs: Service to provide flat bronze markers nationwide for nca114 To MATTHEWS INTERNATIONAL CORPORATION Award VA78613P0094
  3. Jan 1, 2008$18.3M from Department of Veterans Affairs: 78995.66 (b1) bronze markers - 3rd qtr115 To MATTHEWS INTERNATIONAL CORPORATION Award V101N87204
  4. Oct 1, 2013$17.5M from Department of Veterans Affairs: Igf::ct::igf, flat bronze markers116 To MATTHEWS INTERNATIONAL CORPORATION Award VA78614P0642
  5. Oct 1, 2008$16.7M from Department of Veterans Affairs: Bronze markers117 To MATTHEWS INTERNATIONAL CORPORATION Award VA101N97076

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.4,588,160$123.5M0.0%+133,847
Oaktree Capital Management LP1,925,992$51.8M1.4%New
Ameriprise Financial Inc1,923,540$51.8M0.0%+147,980
Dimensional Fund Advisors LP1,737,486$46.8M0.0%+123,285
Gamco Investors, Inc. Et Al1,511,330$40.7M0.4%−25,847
Phoenix Financial Ltd.1,465,173$39.4M0.3%No change
Vanguard Capital Management LLC1,329,011$35.8M0.0%+34,318
State Street Corp1,274,454$34.3M0.0%+48,935
Vanguard Portfolio Management LLC1,248,196$33.6M0.0%−543,825
Private Capital Management, LLC1,201,922$32.4M2.9%+57,217
Allspring Global Investments Holdings, LLC1,097,603$29.3M0.0%−3,354
Barington Companies Management, LLC845,000$22.7M16.0%−79,100
Geode Capital Management, LLC808,340$21.8M0.0%+41,676
Steel Partners Holdings L.P.768,930$20.7M26.5%No change
Charles Schwab Investment Management Inc503,394$13.6M0.0%−86,963
Peak6 LLC444,650$12.0M0.3%−267,454
Aristotle Capital Boston, LLC442,732$11.9M0.8%−76,978
Morgan Stanley410,955$11.1M0.0%−2,455
Quinn Opportunity Partners LLC396,863$10.7M0.5%No change
Bank of New York Mellon Corp370,358$10.0M0.0%+3,560
Northern Trust Corp329,138$8.9M0.0%+20,929
Invesco Ltd.321,605$8.7M0.0%+23,853
Needham Investment Management LLC300,000$8.1M0.2%+185,000
ProShare Advisors LLC262,206$7.1M0.0%+15,843
New York State Common Retirement Fund229,568$6.2M0.0%+3,800

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Matthews International is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARMATTHEWS INTERNATIONAL CORP2
  • CIK0000063296
  • Employer ID (EIN)25-06443207
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company7
  • Incorporated inPennsylvania7
  • Fiscal year endsSeptember 302
  • Industry code (SIC)3360 Nonferrous Foundries (Castings)2
  • SEC reviewing officeOffice of Manufacturing, Division of Corporation Finance2
  • Business addressTwo Northshore Center, Pittsburgh, PA 15212-58512
  • Phone41244282002
  • Shares outstanding31,213,173 as of Jun 30, 202615
  • Public float$657.7M as of Mar 31, 20257
  • AuditorErnst & Young LLP, Pittsburgh, Pennsylvania PCAOB ID 42; it also attests to the company’s internal control over financial reporting7
  • On EDGAR sinceFeb 8, 19952
  • Filings1,868 in all: 4 (1,053), 8-K (313), 10-Q (96), SC 13G/A (91), 3 (41), 10-K (31), DEF 14A (30), DEFA14A (25)2
    All 41 form types

    4/A (23), SC 13G (22), UPLOAD (17), DFAN14A (15), 10-C (14), ARS (13), S-8 (13), SD (13), CORRESP (12), SCHEDULE 13G/A (7), 8-K/A (5), SCHEDULE 13G (5), PREC14A (4), 15-12G (2), DEFC14A (2), DEFR14A (2), PRER14A (2), S-3ASR (2), 10-K/A (1), 10-Q/A (1), 144 (1), 3/A (1), 424B3 (1), 424B5 (1), 425 (1), EFFECT (1), PRE 14A (1), PRRN14A (1), S-3 (1), S-4 (1), S-4/A (1), SC 13D (1), SCHEDULE 13D (1)

  • Latest filingsAnnual report (10-K) Nov 21, 2025
    Quarterly report (10-Q) Aug 7, 2026
    Proxy statement (DEF 14A) Jan 20, 2026
    Latest 8-K (8-K) Oct 1, 2026

Securities registered for trading

ClassSymbolExchange
Class A Common Stock, $1.00 par valueMATWNasdaq Global Select Market

From the cover page of the 10-K filed Nov 21, 2025 (Section 12(b) of the Exchange Act).7

Risk factors and legal proceedings

The risks Matthews International names in Item 1A of its 10-K filed Nov 21, 2025: 32 risks under these headings, as written.7

  • The Company's international sales and operations expose the Company to significant risks and failure to manage those risks could materially adversely impact the Company's business.
  • Changes in foreign currency exchange rates could have an adverse effect on the Company's revenue, cash flows and financial results.
  • Interest rate fluctuations could increase the Company's financing costs and reduce the Company's ability to obtain additional indebtedness or debt refinancing, which could materially and adversely affect the Company.
  • Increased prices for raw materials or shortages could adversely affect the Company's results of operations and cash flows.
  • The Company's balance sheet includes a significant amount of goodwill and intangible assets. An impairment in the carrying value of goodwill could negatively impact the Company's consolidated results of operations and total assets.
  • Changes in mortality and cremation rates could have a material adverse effect on the Company's cash flows and revenues.
  • The Company is subject to competitive pressures, including with respect to product demand and pricing.
  • The loss of any of the Company's large customers could have a material adverse effect on the Company's cash flows and results of operations.
  • The Company faces additional global supply chain risks and risks of interruption of requisite logistics and transportation services, including as a result of the Company's reliance on limited suppliers and vendors for certain components, materials, and services.
  • Pandemics or similar outbreaks may cause unfavorable economic or market conditions, which could impact demand patterns, access to capital and/or disrupt global supply chains and manufacturing operations.
  • Global conflicts may impact the Company's business and the markets in which the Company operates.
  • The Company faces risks in connection with acquisitions, divestitures and business combinations, including the Company's ability to identify or successfully complete any such acquisitions, divestitures or business combinations, to effectively integrate acquired businesses or to effectively manage the remaining business or the combined business.
The other 20 risks
  • The Company's results of operations could be impacted if its investment in Propelis fails to perform as expected.
  • If the Company is unable to adequately protect the Company's intellectual property, the Company's business, financial condition or results of operations could be materially and adversely affected.
  • Intellectual property infringement assertions by third parties, including those of Tesla, Inc. ("Tesla"), could result in significant costs and adversely affect the Company's business, financial condition, operating results and reputation.
  • The Company is subject to environmental laws and regulations, as well as environmental remediation and compliance that may lead to significant unforeseen expenses.
  • The equity income the Company reports from Propelis is reported on a three-month lag basis, which impacts the quarterly and fiscal year timing of when Propelis’ results and synergies are reflected in the Company's financial statements.
  • The Company relies on third parties and their systems for a variety of services, including significant information technology services, and the failure of these third parties to provide these services could disrupt the Company's business.
  • If the Company is unable to keep pace with technological changes, some of which are beyond the Company's control, the Company may not be able to maintain the Company's competitive position.
  • Changing laws and regulations relating to privacy, information security and data protection could increase the Company's costs, and the failure to comply with such laws and regulations could result in significant business disruptions, litigation or enforcement actions.
  • Future tax law changes and/or interpretation of existing tax laws may adversely affect the Company's effective income tax rate and require adjustments to the Company's tax estimates.
  • The Company operates in a regulated environment that requires the Company's compliance with laws and regulations. Non-compliance could subject the Company to sanctions and materially adversely affect the Company's business.
  • The Company's business could be negatively affected as a result of actions of activist shareholders.
  • The market price for the Company's common stock has experienced significant price and volume volatility and is likely to continue to experience significant volatility in the future. This volatility may impair the ability to finance strategic transactions with the Company's stock and otherwise harm the Company's business.
  • The Company's Amended and Restated Articles of Incorporation grants the Company's board of directors the power to designate and issue additional shares of common and/or preferred stock.
  • Provisions of the Company's charter documents or Pennsylvania law could discourage, delay or prevent the Company from being acquired even if being acquired would be beneficial to the Company's shareholders and could make it more difficult to change management.
  • The Company's business is affected by general economic conditions, and any economic decline or other circumstances that result in reductions in the Company's customers’ spending could negatively impact the Company's sales volume and revenues.
  • The Company is subject to various risks related to the local and international nature of the Company's business, including domestic and foreign laws, regulations and standards. In recent years, there have been significant shifts in governments’ priorities with respect to enforcing such laws, regulations and standards. Notwithstanding such shifts, failure to comply with such laws and regulations or the occurrence of unforeseen developments such as litigation, investigations, governmental proceedings or enforcement actions could adversely affect the Company's business.
  • The Company's results of operations could be adversely affected by labor shortages, turnover and labor cost increases.
  • The Company relies on information technology to operate the Company's business. Security breach incidents and breakdowns of information technologies, or failure to comply with laws governing data privacy and data protection, could disrupt the Company's operations, subject the Company to legal claims, and impact the Company's financial results.
  • If the Company fails to maintain effective internal controls over financial reporting at a reasonable assurance level, the Company may not be able to accurately report the Company's financial results, and may require the restatement of previously published financial information, which could have a material adverse effect on the Company's operations, investor confidence in the Company's business and the trading price of the Company's securities.
  • The Company's efforts to comply with Dodd-Frank and other evolving laws and regulations could result in increased costs and expenses related to compliance and potential violations.

Legal proceedings

The Company is subject to various legal proceedings and claims arising in the ordinary course of business. Management does not expect that the results of any of these ordinary course legal proceedings, as presently positioned, will have a material adverse effect on Matthews' financial condition, results of operations or cash flows.

In addition to these ordinary course legal proceedings, the Company is involved in the following legal proceedings.

On October 7, 2024, the United States District Court for the Northern District of California granted the Company’s motion to compel arbitration in response to a complaint filed by Tesla on June 14, 2024 against the Company in the Northern District of California, Civil Action No. 5:24-cv-03615 (N.D. Cal.), which alleged trade secret misappropriation under the Defend Trade Secrets Act (the "DTSA") and the California Uniform Trade Secrets Act (the "CUTSA"), breach of contract and unfair business practices. Given the Court’s favorable ruling, the matter filed by Tesla has been effectively stayed pending arbitration, which Tesla has initiated. The Company maintains the claims vaguely stated in the complaint are without merit and continues to vigorously defend itself against the allegations in confidential arbitration.

The opening of Item 3, Legal Proceedings.7

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