MATERION Corp (MTRN) FY2025 10-K Annual Report
MATERION Corp (MTRN) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 12, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
MATERION Corp FY2025 10-K Analysis
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
MATERION Corp FY2025 Key Financial MetricsXBRL
Revenue
$1.8B
▲ +6.0% YoY
Net Income
$75M
▲ +1170.8% YoY
Gross Margin
17.3%
▼ -207bp YoY
Operating Margin
6.1%
▲ +334bp YoY
Net Margin
4.2%
▲ +384bp YoY
ROE
7.9%
▲ +725bp YoY
Total Assets
$1.8B
▲ +6.2% YoY
EPS (Diluted)
$3.58
▲ +1178.6% YoY
Operating Cash Flow
$103M
▲ +17.6% YoY
Source: XBRL data from MATERION Corp FY2025 10-K filing on SEC EDGAR. All figures in USD.
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