MATRIX SERVICE CO MTRX
We began operations in 1984 as an Oklahoma corporation under the name of Matrix Service. In 1989, we incorporated in the State of Delaware under the name of Matrix Service Company, and in 1990 we began trading on the NASDAQ exchange. We provide engineering, fabrication, construction, and maintenance services to support critical energy infrastructure and industrial markets. We maintain regional offices throughout the United States, Canada and other international locations, and operate through separate union and non-union subsidiaries.
Our principal executive offices are located at 15333 JFK Blvd., Ste. 400, Houston, TX, 77032. Unless the context otherwise requires, all references herein to "Matrix Service Company", "Matrix", the "Company" or to "we", "our", and "us" are to Matrix Service Company and its subsidiaries.
Valuation FY2026 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $873.6M | $769.3M | $728.2M | $795.0M | $707.8M | $673.4M | $1.10B | $1.42B | $1.09B | $1.20B |
| Cost of revenue | $809.7M | $729.6M | $687.7M | $764.2M | $709.0M | $640.6M | $998.8M | $1.28B | $999.6M | $1.12B |
| Gross profit | $64.0M | $39.7M | $40.5M | $30.8M | -$1.2M | $32.8M | $102.2M | $132.0M | $91.9M | $81.0M |
| SG&A | $63.6M | $71.2M | $70.1M | $68.2M | $67.7M | $69.8M | $86.3M | $94.0M | $84.4M | $76.1M |
| Operating income | -$9.6M | -$35.1M | -$30.1M | -$52.9M | -$87.9M | -$43.7M | -$36.6M | $37.9M | -$10.5M | $4.9M |
| Interest expense | $437.0K | $518.0K | $1.1M | $2.0M | $3.0M | $1.6M | $1.6M | $1.3M | $2.6M | $2.2M |
| Pre-tax income | -$2.2M | -$29.0M | -$25.0M | -$52.8M | -$58.3M | -$43.3M | -$36.6M | $38.4M | -$12.1M | $2.4M |
| Income tax | $356.0K | $464.0K | $36.0K | $400.0K | $5.6M | $12.0M | $3.6M | $10.4M | $668.0K | $2.3M |
| Net income | -$2.6M | -$29.5M | -$25.0M | -$52.4M | -$63.9M | -$31.2M | -$33.1M | $28.0M | -$11.5M | -$183.0K |
| EPS, basic | -0.09 | -1.06 | -0.91 | -1.94 | -2.39 | -1.18 | -1.24 | 1.04 | -0.43 | -0.01 |
| EPS, diluted | -0.09 | -1.06 | -0.91 | -1.94 | -2.39 | -1.18 | -1.24 | 1.01 | -0.43 | -0.01 |
| Shares, diluted (wtd. avg.) | $28.3M | $27.8M | $27.4M | $27.0M | $26.7M | $26.5M | $26.6M | $27.6M | $26.8M | $26.5M |
Balance sheet
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $223.0M | $224.6M | $140.6M | $79.8M | $77.4M | $83.9M | $100.0M | $89.7M | $64.1M | $43.8M |
| Receivables | $172.0M | $155.0M | $139.0M | $145.8M | $153.9M | $148.0M | $160.7M | $218.4M | $203.4M | $211.0M |
| Inventory | $6.2M | $5.9M | $8.8M | $7.4M | $10.0M | $7.3M | $6.5M | $8.0M | $5.2M | $3.7M |
| Total current assets | $435.6M | $419.8M | $301.6M | $262.3M | $287.4M | $291.2M | $335.2M | $417.3M | $357.0M | $358.6M |
| Property, plant and equipment | $36.3M | $42.1M | $43.5M | $47.5M | $53.9M | $69.4M | $80.7M | $79.3M | $72.6M | $80.3M |
| Goodwill | $28.9M | $29.0M | $29.0M | $29.1M | $42.1M | $60.6M | $60.4M | $93.4M | $96.2M | $113.5M |
| Other intangibles | $0 | $555.0K | $1.7M | $3.1M | $4.8M | $6.6M | $8.8M | $19.5M | $22.8M | $26.3M |
| Total assets | $602.6M | $600.3M | $451.4M | $400.5M | $440.8M | $467.6M | $517.3M | $633.4M | $558.0M | $586.0M |
| Accounts payable | $108.7M | $80.5M | $65.6M | $76.4M | $74.9M | $60.9M | $73.1M | $114.6M | $79.4M | $105.6M |
| Total current liabilities | $442.4M | $436.4M | $265.1M | $187.5M | $177.8M | $153.4M | $175.9M | $275.5M | $238.5M | $219.0M |
| Total liabilities | $460.8M | $457.5M | $287.2M | $219.0M | $213.1M | $182.0M | $209.4M | $281.4M | $239.2M | $264.2M |
| Retained earnings | $1.9M | $4.5M | $33.9M | $58.9M | $111.3M | $175.2M | $206.4M | $239.5M | $211.5M | $223.0M |
| Total equity | $141.9M | $142.7M | $164.2M | $181.5M | $227.7M | $285.5M | $307.9M | $352.0M | $318.8M | $321.8M |
Cash flow
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $6.9M | $117.5M | $72.6M | $10.2M | -$54.2M | -$3.0M | $44.1M | $41.4M | $74.7M | -$18.7M |
| Depreciation and amortisation | $8.6M | $10.0M | $11.0M | $13.7M | $15.3M | $17.9M | $19.1M | $18.2M | $20.3M | $21.6M |
| Stock-based compensation | $7.1M | $8.9M | $7.7M | $6.8M | $7.9M | $8.2M | $9.9M | $11.9M | $8.6M | $7.5M |
| Capital expenditure | $5.5M | $7.7M | $7.0M | $9.0M | $3.3M | $4.4M | $18.5M | $19.6M | $8.7M | $11.9M |
| Investing cash flow | -$3.5M | -$7.4M | -$945.0K | -$2.5M | $35.7M | -$2.3M | -$17.1M | -$14.4M | -$9.3M | -$51.4M |
| Financing cash flow | -$4.2M | -$1.0M | -$10.4M | -$5.1M | $12.7M | -$12.3M | -$16.0M | -$1.1M | -$45.3M | $42.7M |
| Buybacks | — | — | — | — | $0 | $0 | $17.0M | $5.2M | $0 | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000866273-26-000057.
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