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Matrix Service (MTRX) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Matrix Service
NasdaqGS•Industrials•Engineering & Construction
$10.62+0.07(0.01%)Market closed
Market Cap
$280.70M
P/S
0.3x
P/B
2.0x

Matrix Service Company provides engineering, fabrication, construction, and maintenance services to support critical energy infrastructure and industrial markets in the United States, Canada, and internationally. The company's Storage and Terminal Solutions segment offers engineering, procurement, fabrication, and construction services related to cryogenic, specialty tanks, and terminals for LNG, NGLs, hydrogen, ammonia, propane, butane, liquid nitrogen/liquid oxygen, and liquid petroleum; and plant work, truck and rail loading/offloading facilities, marine structures, and storage tank and terminal maintenance and repair, as well as undertakes work related to aboveground crude oil and refined product storage tanks and terminals. This segment also provides engineered specialty tank products, including geodesic domes, aluminum internal floating roofs, floating suction and skimmer systems, roof drain systems, and floating roof seals. Its Utility and Power Infrastructure segment undertakes power delivery work, including construction of new substations, upgrades of existing substations, and maintenance. This segment also provides engineering, procurement, fabrication, and construction services for LNG utility peak shaving facilities; and construction services to various power generation facilities, including natural gas fired facilities. The company's Process and Industrial Facilities segment offers plant maintenance, repair, and turnarounds, including refining and processing of crude oil, fractionating, and marketing of natural gas and natural gas liquids; and engineering, procurement, fabrication, and construction for refinery upgrades and retrofits for hydrogen processing, production, loading, and distribution facilities, as well as constructs thermal vacuum test chambers and other infrastructure for aerospace, defense, and other industries. Matrix Service Company was founded in 1984 and is headquartered in Tulsa, Oklahoma.

D

How this company scores

WeakMetricSide Score: 47/100

Grade capped at D — Interest coverage below 1× (-22.5x) — earnings cannot cover interest. Strongest: Profitability (17/25); weakest: Cash & Earnings Quality (6/25).

Profitability17/25
Growth17/25
Balance Sheet & Red Flags7/25
Cash & Earnings Quality6/25
Strengths
Long cash runwayProfit converts from growthConsistent growthNet cash position
Grade capped at D
  • Interest coverage below 1× (-22.5x) — earnings cannot cover interest.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/S · 0.3x5y range 0.2x – 0.5x
P/S 0.3x · near its 20-quarter median

Currently near its 20-quarter median.

P/B · 2.0x5y range 0.5x – 2.6x
P/B 2.0x · near its 20-quarter median

Currently near its 20-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

FCF consistently trails net income (avg 1.6x) — earnings may be inflated by non-cash items or aggressive accounting.

Price & Volume
Market Cap $280.70M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue
$873.63M
7Q
Q. Revenue
$244.53M
13%
TTM EBITDA
$-978,000
4Q
TTM Op. Income
$-9.62M
4Q
Q. Op. Income
$-891,000
4Q
TTM Net Income
$-2.58M
4Q
Q. Net Income
$1.14M
4Q
EPS
$0.04
4Q
Shares Out.
$28.44M
7Q
$873.63M in TTM revenue grew 13.6% YoY, reaching $244.53M last quarter. TTM EBITDA of $-978,000 and TTM operating income of $-9.62M show growth is flowing through to the bottom line. However, net income is negative at $2.58M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin
8.0%
112%
EBITDA Margin
0.4%
117%
Op. Margin
-0.4%
4Q
Net Margin
0.5%
4Q
Op. margin of -0.4% is up 5.6% YoY — cost efficiency is improving. Net margin at 0.5% and gross margin of 8.0% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has risen for 4 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio
N/A
P/S Ratio
0.3x
4Q
P/B Ratio
2.0x
4Q
P/S of 0.3x and P/B of 2.0x. P/S is low relative to typical market levels.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets
$602.61M
2Q
Cash
$222.97M
1%
Long-Term Debt
N/A
Book Value
$141.85M
3Q
D/E Ratio
N/A
Debt/EBITDA
0.0

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow
$-8.81M
122%
TTM Free Cash Flow
$1.42M
99%
FCF Margin
0.2%
99%
FCF / Net Income
-0.6
85%
TTM FCF of $1.42M on $-8.81M in operating cash flow. The FCF / Net Income ratio of -0.6x means the business consumes cash — it is not yet self-funding. Over the past year, free cash flow is down 99% — a weakening trend.

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Cash Burn

Watch

FCF turned negative in 2 of the last 8 quarters — occasional cash consumption.

Share Dilution

Watch

Shares outstanding rose 3.2% — mild dilution. Compare to earnings growth to assess the net per-share impact.