(MTRX) Matrix Service - Overview

Sector: Industrials | Industry: Engineering & Construction | Exchange: NASDAQ (USA) | Market Cap: 333m USD | Total Return: 3.3% in 12m

Storage Tanks, Energy Infrastructure, Power Substations, Plant Maintenance
Total Rating 19
Safety 49
Buy Signal 0.17
Engineering & Construction
Industry Rotation: -8.6
Market Cap: 333M
Avg Turnover: 3.24M
Risk 3d forecast
Volatility49.6%
VaR 5th Pctl8.01%
VaR vs Median-2.14%
Reward TTM
Sharpe Ratio0.22
Rel. Str. IBD43.7
Rel. Str. Peer Group6.4
Character TTM
Beta1.051
Beta Downside1.290
Hurst Exponent0.563
Drawdowns 3y
Max DD36.03%
CAGR/Max DD0.87
CAGR/Mean DD2.08
EPS (Earnings per Share) EPS (Earnings per Share) of MTRX over the last years for every Quarter: "2021-03": -0.43, "2021-06": -0.4, "2021-09": -0.6, "2021-12": -0.38, "2022-03": -0.5, "2022-06": -0.52, "2022-09": -0.24, "2022-12": -0.53, "2023-03": -0.33, "2023-06": -0.11, "2023-09": -0.21, "2023-12": -0.18, "2024-03": -0.53, "2024-06": -0.14, "2024-09": -0.33, "2024-12": -0.2, "2025-03": -0.12, "2025-06": -0.28, "2025-09": -0.01, "2025-12": -0.02, "2026-03": 0.13,
Last SUE: 0.02
Qual. Beats: 0
Revenue Revenue of MTRX over the last years for every Quarter: 2021-03: 148.26, 2021-06: 174.899, 2021-09: 168.093, 2021-12: 161.965, 2022-03: 177.003, 2022-06: 200.719, 2022-09: 208.431, 2022-12: 193.84, 2023-03: 186.895, 2023-06: 205.854, 2023-09: 197.659, 2023-12: 175.042, 2024-03: 166.013, 2024-06: 189.499, 2024-09: 165.579, 2024-12: 187.169, 2025-03: 200.161, 2025-06: 216.377, 2025-09: 211.884, 2025-12: 210.508, 2026-03: 206.709,
Rev. CAGR: 2.79%
Rev. Trend: 39.4%
Last SUE: -2.15
Qual. Beats: -1

Warnings

High Debt/EBITDA (58.9) with thin interest coverage (-26.7)

Interest Coverage Ratio -26.7 is critical

Altman Z'' -0.67 < 1.0 - financial distress zone

Choppy

Tailwinds

No distinct edge detected

Description: MTRX Matrix Service

Matrix Service Company (MTRX) is an industrial services firm providing engineering, procurement, fabrication, and construction (EPFC) for energy and industrial infrastructure. The company operates through three primary segments: Storage and Terminal Solutions, Utility and Power Infrastructure, and Process and Industrial Facilities. Its portfolio includes specialized work on cryogenic tanks for LNG and hydrogen, substation construction for power delivery, and maintenance for refineries and aerospace facilities.

The company operates within the capital-intensive energy infrastructure sector, where revenue is often driven by long-term project cycles and recurring maintenance contracts. Matrix Service specializes in aboveground storage tanks and peak shaving facilities, which allow utilities to store liquefied natural gas during periods of low demand to ensure supply during peak usage. Investors can explore deeper financial metrics and valuation trends for this stock on ValueRay.

Founded in 1984 and headquartered in Tulsa, Oklahoma, the firm serves domestic and international markets. Its business model relies on technical expertise in handling hazardous or high-pressure materials, such as ammonia and liquid nitrogen, which creates high barriers to entry for competitors in the specialty storage space.

Headlines to Watch Out For
  • Backlog growth in cryogenic storage and LNG infrastructure projects drives revenue
  • Volatility in crude oil storage maintenance spending impacts recurring service margins
  • Industrial electrification and power delivery expansion projects increase utility segment backlog
  • Transition to hydrogen and ammonia infrastructure creates long-term energy transition opportunities
  • High fixed-cost structure makes bottom-line profitability sensitive to project execution delays
Piotroski VR‑10 (Strict) 3.0
Net Income: -15.0m TTM > 0 and > 6% of Revenue
FCF/TA: 0.08 > 0.02 and ΔFCF/TA -10.93 > 1.0
NWC/Revenue: -5.70% < 20% (prev 0.21%; Δ -5.91% < -1%)
CFO/TA 0.09 > 3% & CFO 56.4m > Net Income -15.0m
Net Debt/EBITDA: error (EBITDA <= 0)
Current Ratio: 0.90 > 1.5 & < 3
Outstanding Shares: last quarter (28.3m) vs 12m ago 1.53% < -2%
Gross Margin: 6.22% > 18% (prev 0.06%; Δ 616.1% > 0.5%)
Asset Turnover: 137.4% > 50% (prev 121.0%; Δ 16.48% > 0%)
Interest Coverage Ratio: -26.70 > 6 (EBITDA TTM -3.64m / Interest Expense TTM 480k)
Altman Z'' -0.67
A: -0.08 (Total Current Assets 412.0m - Total Current Liabilities 460.2m) / Total Assets 616.5m
B: 0.00 (Retained Earnings 757k / Total Assets 616.5m)
C: -0.02 (EBIT TTM -12.8m / Avg Total Assets 615.1m)
D: -0.02 (Book Value of Equity -9.34m / Total Liabilities 477.1m)
Altman-Z'' = -0.67 = B
Beneish M -3.20
DSRI: 0.59 (Receivables 164.0m/244.1m, Revenue 845.5m/742.4m)
GMI: 0.95 (GM 6.22% / 5.93%)
AQI: 1.39 (AQ_t 0.25 / AQ_t-1 0.18)
SGI: 1.14 (Revenue 845.5m / 742.4m)
TATA: -0.12 (NI -15.0m - CFO 56.4m) / TA 616.5m)
Beneish M = -3.20 (Cap -4..+1) = AA
What is the price of MTRX shares? As of May 22, 2026, the stock is trading at USD 12.53 with a total of 236,625 shares traded.
Over the past week, the price has changed by +2.29%, over one month by +4.33%, over three months by +16.45% and over the past year by +3.30%.
Is MTRX a buy, sell or hold? Matrix Service has received a consensus analysts rating of 5.00. Therefore, it is recommended to buy MTRX.
  • StrongBuy: 1
  • Buy: 0
  • Hold: 0
  • Sell: 0
  • StrongSell: 0
What are the forecasts/targets for the MTRX price?
Analysts Target Price 20 59.6%
Matrix Service (MTRX) - Fundamental Data Overview as of 18 May 2026
P/E Forward = 13.3869
P/S = 0.3943
P/B = 2.4578
P/EG = 0.7436
Revenue TTM = 845.5m USD
EBIT TTM = -12.8m USD
EBITDA TTM = -3.64m USD
Long Term Debt = 21.4m USD (from capitalLeaseObligations, last fiscal year)
Short Term Debt = 4.58m USD (from shortTermDebt, last quarter)
Debt = 26.0m USD (corrected: LT Debt 21.4m + ST Debt 4.58m)
Net Debt = -214.3m USD (from netDebt column, last quarter)
Enterprise Value = 126.4m USD (333.4m + Debt 26.0m - CCE 233.0m)
Interest Coverage Ratio = -26.70 (Ebit TTM -12.8m / Interest Expense TTM 480k)
EV/FCF = 2.52x (Enterprise Value 126.4m / FCF TTM 50.1m)
FCF Yield = 39.61% (FCF TTM 50.1m / Enterprise Value 126.4m)
FCF Margin = 5.92% (FCF TTM 50.1m / Revenue TTM 845.5m)
Net Margin = -1.77% (Net Income TTM -15.0m / Revenue TTM 845.5m)
Gross Margin = 6.22% ((Revenue TTM 845.5m - Cost of Revenue TTM 792.9m) / Revenue TTM)
Gross Margin QoQ = 8.30% (prev 6.24%)
Tobins Q-Ratio = 0.20 (Enterprise Value 126.4m / Total Assets 616.5m)
Interest Expense / Debt = 0.33% (Interest Expense 85.0k / Debt 26.0m)
Taxrate = 4.02% (35.0k / 870k)
NOPAT = -12.3m (EBIT -12.8m * (1 - 4.02%)) [loss with tax shield]
Current Ratio = 0.90 (Total Current Assets 412.0m / Total Current Liabilities 460.2m)
Debt / Equity = 0.19 (Debt 26.0m / totalStockholderEquity, last quarter 139.4m)
 Debt / EBITDA = 58.91 (negative EBITDA) (Net Debt -214.3m / EBITDA -3.64m)
 Debt / FCF = -4.28 (Net Debt -214.3m / FCF TTM 50.1m)
Total Stockholder Equity = 139.0m (last 4 quarters mean from totalStockholderEquity)
RoA = -2.44% (Net Income -15.0m / Total Assets 616.5m)
RoE = -10.79% (Net Income TTM -15.0m / Total Stockholder Equity 139.0m)
RoCE = -7.99% (EBIT -12.8m / Capital Employed (Equity 139.0m + L.T.Debt 21.4m))
 RoIC = -8.86% (negative operating profit) (NOPAT -12.3m / Invested Capital 138.8m)
 WACC = 9.00% (E(333.4m)/V(359.4m) * Re(9.68%) + D(26.0m)/V(359.4m) * Rd(0.33%) * (1-Tc(0.04)))
Discount Rate = 9.68% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 100.00 | Cagr: 1.42%
[DCF] Terminal Value 66.24% ; FCFF base≈76.8m ; Y1≈50.4m ; Y5≈23.1m
[DCF] Fair Price = 21.42 (EV 388.3m - Net Debt -214.3m = Equity 602.6m / Shares 28.1m; r=9.00% [WACC]; 5y FCF grow -40.0% → 3.0% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.02 | # QB: 0
Revenue Correlation: 39.44 | Revenue CAGR: 2.79% | SUE: -2.15 | # QB: -1
EPS next Quarter (2026-09-30): EPS=0.17 | Chg30d=-16.67% | Revisions=N/A | Analysts=2
EPS current Year (2026-06-30): EPS=0.25 | Chg30d=+66.67% | Revisions=-20% | GrowthEPS=+126.9% | GrowthRev=+13.9%
EPS next Year (2027-06-30): EPS=0.67 | Chg30d=-19.88% | Revisions=+20% | GrowthEPS=+166.0% | GrowthRev=+8.2%
[Analyst] Revisions Ratio: -20%