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Matrix Service Co (MTRX) stock

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NASDAQ: MTRX Nasdaq Construction & Engineering Next results ~November 4, 2026

D Fundamentals grade

Matrix Service Co is a US-listed company in the construction & engineering industry. Its financial year ends in June.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: every model's value for Matrix Service Co is far from the share price, which usually points to a data problem (a merger, a share-count change, a one-off) rather than a bargain or a bubble.

Price vs value

Under review: our cash-flow value ($56.50) was left out of our combined valuation (it is 5.94x the share price, outside the 0.2-5x range we accept), so it can't be the basis of a rating. We'll show the comparison once resolved.

Matrix Service Co valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 5 selling0 purchases and 11 sales by directors and officers, last 12 monthsInsider trades
  • Funds89 adding, 56 cuttingOf 39 active managers that changed their stake, 25 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Matrix Service files

Where Matrix Service Co stands after its latest 10-K

Revenue for the twelve months to June 2026 was $874m, up 13.6% on a year earlier, about the same pace as a quarter earlier. Free-cash-flow margin fell to 0.2% from 14.3% a year earlier. Operating margin widened to -1.1% from -4.6%. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 1 of our 3 financial-health checks.

Our model value for Matrix Service is under review, so past values are not shown until it is resolved.

Source: 10-K filed September 3, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 4, 2026 (estimated)

Matrix Service Co's trailing-twelve-month revenue grew 13.6% year on year, with a free-cash-flow margin of 0.2%.

Our discounted-cash-flow model values the business at ~$57 per share in the base case (~$44–$72 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 98.7% while net income grew 91.2%: a 190pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Margins widening. Operating margin is up 3.5 points on a year ago.
  • Net cash. Cash exceeds long-term debt by $0.2bn.

Things to watch

  • Loss-making. Operating margin is -1.1%: costs exceed revenue.
  • Volatile shares. Over the past year the shares showed annualised volatility of 47% and a beta of 1.6 against the S&P 500.
  • Below peers: gross margin. Gross margin of 7.3% ranks 31 of 39 construction & engineering companies we cover (median 11.8%).
  • Short interest rising. Shares sold short rose 31% in a month to 5.4% of tradable shares.
  • Missing expectations. Earnings per share fell short of the consensus estimate in 3 of the last four quarters.
  • Estimates being cut. Analysts' consensus for next year's earnings per share has fallen 12.0% over 90 days.

Latest results: FY2026 Q4

Filed September 3, 2026
Earnings per share
$0.16 against an average estimate of $0.20: missed by 20.0%
Revenue
$245m, up 13.0% on a year earlier
Share reaction
-1.4% in the first session after the results on September 2, 2026, against +1.5% for the S&P 500
Next report
November 4, 2026; average EPS estimate $0.18

Matrix Service's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-0.5%
  • 1 week-3.7%
  • 1 month-9.4%
  • This year-20.4%
  • 1 year-38.0%
  • 5 years-13.4%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$874M
Operating margin
-1.1%
Net margin
-0.3%
EPS (TTM, diluted)
$-0.09

Growth

Revenue growth
+13.6%
Change in growth rate
−0.3 pts
Share count change
+1.9%

Cash

Free cash flow (TTM)
$1.4M
FCF margin
0.2%
Stock pay % of revenue
0.8%

Earnings

Last results
September 2, 2026
Next results (est.)
December 2, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Leadership
  2. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Matrix Service Co valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: held for review: our cash-flow value ($56.50) was left out of our combined valuation (it is 5.94x the share price, outside the 0.2-5x range we accept), so it can't be the basis of a rating.

Our value per share comes from a discounted-cash-flow model of Matrix Service Co's free cash flow after stock-based pay ( $57M, FY2026 Q4 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Matrix Service Co as an operating company, with every model that fits that kind of business. Cost of equity 11%: the 10-year Treasury yield (4.9%) plus a beta of 1.34 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$57 ~$44–$72 Left out: out of range vs price (6.07x)
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: This model is withheld pending its input or assumption review.
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: This model is withheld pending its input or assumption review.
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: This model is withheld pending its input or assumption review.
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Matrix Service Co with Construction & Engineering in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20162017201820192020202120222023202420252026
Share price$16.49$9.35$18.35$20.26$9.72$10.50$5.06$5.89$9.93$13.51$13.70
Market value$447m$248m$491m$559m$259m$278m$135m$159m$272m$375m$388m
+ Net debt (− = net cash)−$72m$877000−$64m−$84m−$91m−$84m−$52m−$55m−$116m−$225m−$223m
Enterprise value$375m$249m$427m$475m$168m$194m$83m$104m$156m$151m$165m
Multiples
Price / sales 0.3x0.2x0.5x0.4x0.2x0.4x0.2x0.2x0.4x0.5x0.4x
Price / earnings 15.5x——20.0x———————
Price / free cash flow 22.7x—7.4x25.6x10.1x——128.4x4.1x3.4xn/m
EV / EBITDA 6.0x9.4x43.3x8.5x———————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

39 /100

Weak moat

How hard Matrix Service's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Cash operating profit has been a median -1.8% of total assets over 10 years.

  • Pricing power 7 / 20

    Gross margin has been a median 6.2%, moving by 2.7 percentage points (standard deviation) across 10 years.

  • Durability 10 / 20

    Operating margin has been a median -3.7%; its worst year was -12.4%.

  • Cash conversion 7 / 20

    Free cash flow was positive in 7 of 10 years, at a median 0.9% of revenue.

  • Discipline 14 / 20

    The diluted share count rose 7.0% over five years; stock-based pay has been a median 0.9% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 4, 2026, after the close. Analysts expect revenue of $240m and EPS of $0.18 (range $0.11 to $0.25) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.59 +129% $932m +7%
Next $0.69 +17% $985m +6%

Next year's EPS estimate has moved −12.0% in 90 days, across 2 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −14.4% on 90 days ago. In the last 30 days, 0 analysts raised Matrix Service Co's forecast and 1 cut it.

Consensus EPS forecast Matrix Service Co, last 90 days
$0.55 $0.60 $0.65 $0.70 $0.75 $0.80 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.69 Current fiscal year, 60 days ago: $0.69 Current fiscal year, 30 days ago: $0.69 Current fiscal year, 7 days ago: $0.69 Current fiscal year, Now: $0.59 $0.59 Next fiscal year, 90 days ago: $0.79 Next fiscal year, 60 days ago: $0.79 Next fiscal year, 30 days ago: $0.79 Next fiscal year, 7 days ago: $0.79 Next fiscal year, Now: $0.69 $0.69

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.69$0.79
60 days ago $0.69$0.79
30 days ago $0.69$0.79
7 days ago $0.69$0.79
Now $0.59$0.69

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.20 $0.16 −20.0%
Mar 2026 $0.07 $0.13 +100.0%
Dec 2025 $0.04 −$0.02 −157.1%
Sept 2025 $0.02 −$0.01 −150.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, September 2, 2026

No numeric guidance in Matrix Service Co's latest earnings release (filed September 2, 2026). Some companies give their outlook only on the earnings call.

How our valuation uses these forecasts

Our cash-flow model grows Matrix Service Co's revenue by +7.5% next year and +7.8% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+6.7%, weight 56%) and the company's own record (+8.4%, weight 44%) . How the weights are set.

Analyst recommendations

1 analysts, Oct 2026
Buy1100%
Hold00%
Sell00%

Monthly trend

  1. Oct 202611
  2. Sep 202611
  3. Aug 202611

Counts of recommendations published by analysts covering Matrix Service Co, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
5.4%
of tradable shares
Days to cover
2.74
at average volume
Short interest, 1 month
+31%
to October 15, 2026
Held by institutions
89%
of shares
Held by insiders
4.0%
of shares
Employees
2,370
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −38.0%

$15.02 on October 31, 2025 to $9.31

ThenNowEffect
Revenue (last 12 months) $769m $874m +13.6%
P/S multiple 0.5x 0.3x −44.4%
Share count 28m 28m −1.9%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years −20.8%

$11.75 on November 3, 2023 to $9.31

ThenNowEffect
Revenue (last 12 months) $795m $874m +9.9%
P/S multiple 0.4x 0.3x −24.4%
Share count 27m 28m −4.6%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
MTRX−32%−17%+57%+22%−2%−20%
Industry peers (median)+41%−8%+43%+48%+30%+0%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
MTRX42%50%50%50%50%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
MTRX−58%−61%−49%−34%−35%−35%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 87% from September 14, 2018 to September 27, 2022. Getting back needed a 644% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$9.31 – $15.60
From 52-week high
−40.3%
vs 50-day average
−8.7%
vs 200-day average
−21.0%
Volatility (1 year)
47%
Beta vs S&P 500
1.62

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 6 down
typical move ±11.8%
After a week
5 up, 7 down
typical move ±12.9%
After a month
4 up, 8 down
typical move ±15.1%
Results releasedNext dayS&P 500 next day5 days21 days
September 2, 2026 −1.4% +1.5% −3.2% −3.9%
May 6, 2026 −12.7% +1.1% −15.3% −2.7%
February 4, 2026 −21.4% −1.7% −18.8% −23.5%
November 5, 2025 −17.1% −0.7% −20.0% −23.5%
September 9, 2025 −16.6% +0.5% −13.1% −13.0%
May 7, 2025 +13.0% +1.1% +6.0% +3.1%
February 5, 2025 +0.1% +0.8% +8.8% −16.6%
November 6, 2024 +13.1% +3.3% +16.5% +14.3%
September 9, 2024 +12.5% +1.6% +15.4% +18.9%
May 8, 2024 −10.8% +0.6% −3.4% −9.1%
February 7, 2024 +20.5% +0.9% +26.7% +38.9%
November 8, 2023 +2.2% −0.7% −7.5% −14.1%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Matrix Service Co in five measures

Fundamentals grade D
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Matrix Service Co
$650M $700M $750M $800M $850M $900M FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Revenue (TTM), FY24 Q1: $784.2M Revenue (TTM), FY24 Q2: $765.5M Revenue (TTM), FY24 Q3: $744.6M Revenue (TTM), FY24 Q4: $728.2M Revenue (TTM), FY25 Q1: $696.1M Revenue (TTM), FY25 Q2: $708.3M Revenue (TTM), FY25 Q3: $742.4M Revenue (TTM), FY25 Q4: $769.3M Revenue (TTM), FY26 Q1: $815.6M Revenue (TTM), FY26 Q2: $838.9M Revenue (TTM), FY26 Q3: $845.5M Revenue (TTM), FY26 Q4: $873.6M $873.6M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY24 Q1 $784.2M
FY24 Q2 $765.5M
FY24 Q3 $744.6M
FY24 Q4 $728.2M
FY25 Q1 $696.1M
FY25 Q2 $708.3M
FY25 Q3 $742.4M
FY25 Q4 $769.3M
FY26 Q1 $815.6M
FY26 Q2 $838.9M
FY26 Q3 $845.5M
FY26 Q4 $873.6M
Revenue growth, TTM YoY Matrix Service Co
-20% -10% 0% 10% 20% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Revenue growth, TTM YoY, FY24 Q1: 4.8% Revenue growth, TTM YoY, FY24 Q2: -1.9% Revenue growth, TTM YoY, FY24 Q3: -5.7% Revenue growth, TTM YoY, FY24 Q4: -8.4% Revenue growth, TTM YoY, FY25 Q1: -11.2% Revenue growth, TTM YoY, FY25 Q2: -7.5% Revenue growth, TTM YoY, FY25 Q3: -0.3% Revenue growth, TTM YoY, FY25 Q4: 5.6% Revenue growth, TTM YoY, FY26 Q1: 17.2% Revenue growth, TTM YoY, FY26 Q2: 18.4% Revenue growth, TTM YoY, FY26 Q3: 13.9% Revenue growth, TTM YoY, FY26 Q4: 13.6% 13.6%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q1 4.8%
FY24 Q2 -1.9%
FY24 Q3 -5.7%
FY24 Q4 -8.4%
FY25 Q1 -11.2%
FY25 Q2 -7.5%
FY25 Q3 -0.3%
FY25 Q4 5.6%
FY26 Q1 17.2%
FY26 Q2 18.4%
FY26 Q3 13.9%
FY26 Q4 13.6%
Operating margin (TTM) Matrix Service Co
-8% -6% -4% -2% 0% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Operating margin (TTM), FY24 Q1: -6.8% Operating margin (TTM), FY24 Q2: -3.4% Operating margin (TTM), FY24 Q3: -3.7% Operating margin (TTM), FY24 Q4: -4.1% Operating margin (TTM), FY25 Q1: -5.1% Operating margin (TTM), FY25 Q2: -5.2% Operating margin (TTM), FY25 Q3: -3.7% Operating margin (TTM), FY25 Q4: -4.6% Operating margin (TTM), FY26 Q1: -3.7% Operating margin (TTM), FY26 Q2: -3.0% Operating margin (TTM), FY26 Q3: -2.6% Operating margin (TTM), FY26 Q4: -1.1% -1.1%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q1 -6.8%
FY24 Q2 -3.4%
FY24 Q3 -3.7%
FY24 Q4 -4.1%
FY25 Q1 -5.1%
FY25 Q2 -5.2%
FY25 Q3 -3.7%
FY25 Q4 -4.6%
FY26 Q1 -3.7%
FY26 Q2 -3.0%
FY26 Q3 -2.6%
FY26 Q4 -1.1%
FCF margin (TTM) Matrix Service Co
0% 5% 10% 15% 20% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 FCF margin (TTM), FY24 Q1: 1.1% FCF margin (TTM), FY24 Q2: 2.8% FCF margin (TTM), FY24 Q3: 3.3% FCF margin (TTM), FY24 Q4: 9.0% FCF margin (TTM), FY25 Q1: 15.1% FCF margin (TTM), FY25 Q2: 15.3% FCF margin (TTM), FY25 Q3: 15.8% FCF margin (TTM), FY25 Q4: 14.3% FCF margin (TTM), FY26 Q1: 8.8% FCF margin (TTM), FY26 Q2: 5.4% FCF margin (TTM), FY26 Q3: 5.9% FCF margin (TTM), FY26 Q4: 0.2% 0.2%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q1 1.1%
FY24 Q2 2.8%
FY24 Q3 3.3%
FY24 Q4 9.0%
FY25 Q1 15.1%
FY25 Q2 15.3%
FY25 Q3 15.8%
FY25 Q4 14.3%
FY26 Q1 8.8%
FY26 Q2 5.4%
FY26 Q3 5.9%
FY26 Q4 0.2%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 Jun 2010 2011 Jun 2011 2012 Jun 2012 2013 Jun 2013 2014 Jun 2014 2015 Jun 2015 2016 Jun 2016 2017 Jun 2017 2018 Jun 2018 2019 Jun 2019 2020 Jun 2020 2021 Jun 2021 2022 Jun 2022 2023 Jun 2023 2024 Jun 2024 2025 Jun 2025 2026 Jun 2026
Income
Revenue 553 629 739 893 1,263 1,343 1,312 1,198 1,092 1,417 1,101 673 708 795 728 769 874
Gross profit 53 75 80 95 136 87 126 81 92 132 102 33 −1 31 40 40 64
EBITDA 20 42 43 49 77 32 62 26 10 56 −18 −26 −73 −39 −19 −25 −1
Operating income 8 31 32 37 59 9 41 5 −10 38 −37 −44 −88 −53 −30 −35 −10
Net income 5 19 17 24 36 17 29 −0 −11 28 −33 −31 −64 −52 −25 −29 −3
Diluted EPS $0.18 $0.71 $0.65 $0.91 $1.33 $0.63 $1.07 −$0.01 −$0.43 $1.01 −$1.24 −$1.18 −$2.39 −$1.94 −$0.91 −$1.06 −$0.09
Growth (year on year)
Revenue — +13.6% +17.6% +20.8% +41.5% +6.3% −2.3% −8.7% −8.8% +29.8% −22.3% −38.8% +5.1% +12.3% −8.4% +5.6% +13.6%
EBITDA — +115.2% +2.7% +14.8% +55.8% −58.1% +93.1% −57.5% −62.7% — −131.2% — — — — — —
Operating income — — +2.4% +16.1% +59.6% −85.0% — −88.1% — — −196.6% — — — — — —
Net income — — −9.5% +39.7% +49.2% −52.1% — −100.6% — — — — — — — — —
Diluted EPS — — −8.5% +40.0% +46.2% −52.6% — −100.9% — — — — — — — — —
Margins
Gross margin 9.6% 11.9% 10.8% 10.6% 10.8% 6.5% 9.6% 6.8% 8.4% 9.3% 9.3% 4.9% −0.2% 3.9% 5.6% 5.2% 7.3%
EBITDA margin 3.5% 6.7% 5.8% 5.5% 6.1% 2.4% 4.8% 2.2% 0.9% 4.0% −1.6% −3.8% −10.3% −4.9% −2.6% −3.3% −0.1%
Operating margin 1.4% 4.9% 4.3% 4.1% 4.6% 0.7% 3.1% 0.4% −1.0% 2.7% −3.3% −6.5% −12.4% −6.7% −4.1% −4.6% −1.1%
Net margin 0.9% 3.0% 2.3% 2.7% 2.8% 1.3% 2.2% −0.0% −1.1% 2.0% −3.0% −4.6% −9.0% −6.6% −3.4% −3.8% −0.3%
Free-cash-flow margin −0.2% 2.0% −1.4% 3.8% 4.2% 0.8% 1.5% −2.6% 6.0% 1.5% 2.3% −1.1% −8.1% 0.2% 9.0% 14.3% 0.2%
Cash flow
Cash from operations 4 23 3 57 77 26 34 −19 75 41 44 −3 −54 10 73 117 7
Capital spending 5 10 14 23 24 16 14 12 9 20 19 4 3 9 7 8 5
Free cash flow −1 12 −11 34 53 10 20 −31 66 22 26 −7 −58 1 66 110 1
Stock-based pay 2 2 4 4 6 6 6 7 9 12 10 8 8 7 8 9 7
Free cash flow after stock pay −3 10 −14 30 48 4 13 −38 57 10 16 −15 −65 −6 58 101 −6
Balance sheet
Cash 51 59 64 64 77 79 72 44 64 90 100 84 52 55 116 225 223
Total debt 0 0 0 0 12 9 0 45 0 5 9 0 0 0 0 0 0
Net debt (negative = net cash) −51 −59 −64 −64 −65 −70 −72 1 −64 −84 −91 −84 −52 −55 −116 −225 −223
Diluted shares 26m 27m 26m 26m 27m 27m 27m 27m 27m 28m 27m 26m 27m 27m 27m 28m 28m
Returned to shareholders
Buybacks — 0 8 0 0 5 10 0 0 5 17 0 0 — — — —
Total returned — 0 8 0 0 5 10 0 0 5 17 0 0 — — — —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

1 of 3 checks passed · June 30, 2026
What it owns · $603m
Short-term assets $436mLonger-term assets $167m
What it owes, and who funded it · $603m
Short-term liabilities $442mLonger-term liabilities $18mShareholders' equity $142m
  • Short-term assets cover short-term liabilities $436m of assets due within a year against $442m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $436m short-term assets against $18m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Operating income of −$10m against $437,000 of interest.

From Matrix Service Co's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+1.9%
year over year
Sales & admin spending
7.3%
of revenue
Days sales outstanding
72 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in construction & engineering
Last 12 months unless stated MTRX ORN CDLR LMB AGX SLND Median
Revenue, last 12 months $874m $928m $701m $684m $1.2bn $603m $1.5bn
Revenue growth, last 12 months 13.6% 11.0% 160.6% 23.7% 29.0% −32.7% 21.2%
Revenue growth, 3-year average 3.2% 9.5% — 10.1% 35.1% −19.6% 11.3%
Revenue growth, latest quarter 13.0% 13.8% — 21.9% 61.5% −47.4% 26.9%
Gross margin 7.3% 11.8% 61.8% 23.6% 20.9% −44.1% 13.0%
Operating margin −1.1% 1.2% 51.2% 5.7% 15.4% −54.6% 4.1%
Operating margin, 3-year average −3.3% 1.2% — 6.5% 11.5% −21.9% 5.4%
Net margin −0.3% 0.6% 45.2% 4.4% 15.1% −67.0% 1.9%
Cash from operations / revenue 0.8% 0.3% 63.5% 7.7% 46.7% −25.9% 4.4%
Free-cash-flow margin 0.2% −4.1% −135.6% 7.4% 45.9% −26.1% 2.3%
Free-cash-flow margin, 3-year average 7.8% −0.1% — 6.3% 28.3% −9.3% 5.5%
Stock pay / revenue 0.8% 0.7% 0.3% 1.1% 0.7% — 0.7%
Change in share count 1.9% 2.2% 2.2% −0.3% 0.5% 6.0% 0.8%

Median of all 43 companies we cover in construction & engineering. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

43 construction & engineering companies
Measure Company Peer median Rank
Revenue growth Growth 13.6% 21.2% 25 of 43
Change in growth rate Growth -0.3pp +3.2pp 30 of 43
Gross margin Profitability 7.3% 11.8% 31 of 39
Operating margin Profitability -1.1% 4.1% 26 of 39
Net margin Profitability -0.3% 2.1% 27 of 42
Free-cash-flow margin Cash generation 0.2% 2.3% 26 of 43
Stock pay as % of revenue Cash generation 0.8% 0.7% 23 of 33
Change in share count Balance sheet 1.9% 1.9% 21 of 40
Days sales outstanding Balance sheet 72 days 67 days 17 of 27

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to June 30, 2026
Segments
Line of business Revenue Share YoY
Storage and Terminal Solutions $458M 52.5% ▲ 25.3%
Utility and Power Infrastructure $283M 32.4% ▲ 14.0%
Process and Industrial Facilities $132M 15.1% ▼ 14.7%
Corporate $0 0.0% —
Geography
Region Revenue Share YoY
United States $828M 94.8% ▲ 15.1%
Canada $38.4M 4.4% ▼ 6.8%
Otherinternational $7.1M 0.8% ▼ 18.4%

From Matrix Service Co's 10-K filed September 3, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$355M
Institutions reporting
150
Shares held vs prior quarter
▲ 6.9%
Positions opened / closed
22 / 14

Top buyers and sellers, Q2 2026: 89 institutions bought and 56 sold ; the biggest buyer was First Eagle Investment Management, LLC (+1.1M shares) and the biggest seller Westerly Capital Management, LLC (−369K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $29.3M 2.1M 8.3% ▲ 6.2%
First Eagle Investment Management, LLC $27.1M 2.0M 7.6% ▲ 132.8%
Needham Investment Management LLC $19.7M 1.4M 5.5% 0.0%
American Century Companies Inc $16.5M 1.2M 4.7% ▲ 22.9%
Gendell Jeffrey L $16.3M 1.2M 4.6% ▼ 3.1%
Vanguard Capital Management LLC $16.3M 1.2M 4.6% ▼ 0.7%
Acadian Asset Management LLC $11.9M 872K 3.4% ▲ 83.1%
Harvey Partners, LLC $11.2M 815K 3.1% ▼ 9.9%
Two Sigma Investments, LP $10.2M 748K 2.9% ▲ 17.3%
Geode Capital Management, LLC $9.9M 721K 2.8% ▲ 5.2%
Azarias Capital Management, L.P. $9.2M 674K 2.6% ▼ 17.5%
Dimensional Fund Advisors LP $9.1M 665K 2.6% ▲ 0.2%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Matrix Service Co's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $2.5M 11 trades by 5 insiders · 64% under pre-set plans
Net ▼ $2.5M net selling
Insider Date Trade Shares Price Value
Cavanah Kevin S VP Finance & CFO June 15, 2026 Sell pre-set plan 1,418 $14.03 $19,895
Sheets Justin D SVP, Enterprise Services June 12, 2026 Sell 16,991 $13.50 $229,378
Cavanah Kevin S VP Finance & CFO June 12, 2026 Sell pre-set plan 2,073 $14.00 $29,022
Cavanah Kevin S VP Finance & CFO June 5, 2026 Sell pre-set plan 6,509 $14.13 $91,972
Cavanah Kevin S VP Finance & CFO June 4, 2026 Sell pre-set plan 50,000 $14.10 $705,000
Cavanah Kevin S VP Finance & CFO May 26, 2026 Sell pre-set plan 60,000 $12.90 $774,000
Hewitt John R President & CEO May 8, 2026 Sell 36,000 $12.50 $450,000
Austin Nancy E VP, Chief Admin Officer February 18, 2026 Sell 4,193 $11.29 $47,339
Payne Shawn P President, Eng & Constr November 25, 2025 Sell 5,231 $11.42 $59,738
Payne Shawn P President, Eng & Constr November 20, 2025 Sell 3,019 $11.42 $34,477
Payne Shawn P President, Eng & Constr November 11, 2025 Sell 8,250 $12.58 $103,785

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around December 2, 2026 estimated from the company's past filing pattern, not announced

  • September 2, 2026
  • May 6, 2026
  • February 4, 2026
  • November 5, 2025
  • September 9, 2025
  • May 7, 2025

Recent SEC filings

Data status

When each part of this page on Matrix Service Co was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Matrix Service Co in brief

What does Matrix Service Co do?
Matrix Service Co is a US-listed company in the construction & engineering industry. Its financial year ends in June.
What is Matrix Service Co's stock ticker?
Matrix Service Co trades under the ticker MTRX on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Matrix Service Co's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Matrix Service Co reported revenue of $874M, 13.6% higher than a year earlier, according to its SEC filings.
What is Matrix Service Co's free cash flow?
Matrix Service Co's free-cash-flow margin is 0.2% of revenue over the trailing twelve months, ranking 26 of the 43 construction & engineering companies we cover.
Who are Matrix Service Co's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., First Eagle Investment Management, LLC and Needham Investment Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Matrix Service Co's market cap?
On June 30, 2026, Matrix Service Co's market capitalisation was about $388M and net debt of -$223M. Market figures come from third-party market data and may be delayed.
Who are Matrix Service Co's competitors?
In our Construction & Engineering peer group, the companies closest to Matrix Service Co are Orion Group Holdings Inc, Cadeler A/s, Limbach Holdings, Inc., Argan Inc and Southland Holdings, Inc. The side-by-side comparison below sets their revenue, margins and growth against Matrix Service Co's.
Are insiders buying or selling Matrix Service Co stock?
Over the last 12 months, Matrix Service Co's directors and officers reported 0 open-market purchases and 11 sales on Form 4. The insider trading page charts every trade.
When is Matrix Service Co's next earnings date?
Around November 4, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Matrix Service Co announces its own schedule.