Short answer
MATERION Corp (MTRN) filed its fiscal 2025 10-K annual report with the SEC on Feb 12, 2026. It reported revenue of $1.8B (+6.0% year over year) and net income of $75M.
- Top risk flagged: U.S. Government contract risk with 20% of 2025 sales in aerospace and defense; contracts subject to suspension, cancellation, or delay
FY2025 key financial metrics · XBRL
- Revenue
- $1.8B
- +6.0% YoY
- Net income
- $75M
- +1170.8% YoY
- Operating margin
- 6.1%
- +3.3 pp YoY
- Gross margin
- 17.3%
- −2.1 pp YoY
- EPS (diluted)
- $3.58
- +1178.6% YoY
- ROE
- 7.9%
- +7.3 pp YoY
- Operating cash flow
- $103M
- +17.6% YoY
Source: XBRL data from the MATERION Corp (MTRN) FY2025 10-K on SEC EDGAR. USD.
MATERION Corp FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Integrated producer of advanced engineered materials for electronics, aerospace, automotive, energy, and life sciences with $1.8B net sales in 2025
- New emphasis on advanced beryllium products and proprietary alloys like ToughMet™ and SupremEX™ for wear resistance and strength-to-weight applications
- Strategic focus on R&D-driven innovation in Precision Optics, advancing coatings and optical solutions to differentiate globally
- Maintained global manufacturing footprint with facilities in US, Europe, Asia; largest bertrandite ore mine operation in Utah
- No customers exceeded 10% of net sales in 2025, improving customer concentration risk compared to prior years
Management Discussion & Analysis
- Revenue $1,786.6M in 2025, up $101.9M (6%) YoY from $1,684.7M in 2024, driven by Electronic Materials segment's higher precious metal pass-through costs
- Gross margin 17% of net sales in 2025 vs 19% in 2024; $308.6M vs $326.0M gross margin due to lower volumes and $25.7M charges in Performance Materials
- Best segment: Electronic Materials net sales $1,010.0M (+19%), EBITDA $71.1M (+50%); Worst segment: Performance Materials net sales $675.9M (-9%), EBITDA $127.2M (-25%)
- Operating cash flow $103.2M (+$15.4M YoY), investing cash outflow $98.1M (up $18.5M), financing cash outflow $9.8M (up $5.6M); stock repurchases $7.8M, dividends $11.5M (+4%)
- Management increased quarterly dividend to $0.14/share in 2025, expects sufficient liquidity for capex, dividends, acquisitions, notes quality issues in consumer electronics market as risk
Risk Factors
- U.S. Government contract risk with 20% of 2025 sales in aerospace and defense; contracts subject to suspension, cancellation, or delay
- International sales 64% of 2025 revenue exposed to geopolitical risks including tariffs, currency fluctuations, and potential export license denials
- Manufacturing supply chain dependent on Elmore, Ohio beryllium hydroxide mine; disruption may impair production and delivery
- Competitive threat from substitute materials reducing demand for beryllium products due to lower cost alternatives and health concerns
- Inventory risk from volatile precious metal prices impacting valuation and earnings, with potential theft or employee errors from high-value metal inventories
Generated from the filing text; verify against the original. How to read a 10-K
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