Mativ Holdings (MATV) Cash Flow: Operating & Free Cash Flow

Mativ Holdings (MATV) Cash Flow Statement

In fiscal 2025 (fiscal year ended Dec 31, 2025), Mativ Holdings generated $133.80M of operating cash flow and spent $40.00M on capital expenditures. That left free cash flow of $93.80M, up 139.3% from $39.20M a year earlier, or 4.7% of revenue. It returned $23.70M to shareholders through $22.30M in dividends and $1.40M in share buybacks.

Mativ Holdings Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Mativ Holdings, Inc. (MATV) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Operating Activities
Net Income	-674.80	-48.70	-508.40	-6.60	177.80	83.80	85.80	94.80	34.40
Depreciation & Amortization	141.00	143.80	147.80	109.90	67.10	72.20	57.70	61.60	59.50
Deferred Income Tax	-130.20	-34.30	23.80	-28.90	-33.10	-5.70	6.90	-8.20	38.30
Stock Based Compensation	11.10	11.40	10.50	20.40	8.50	8.80	7.80	4.80	7.10
Change in Working Capital	8.40	0.10	-19.80	63.10	-14.50	-5.70	-1.80	-20.60	-11.90
Change in Accounts Receivable	-14.80	6.30	2.00	157.00	2.70	-5.30	10.80	-18.30	-0.90
Change in Inventory	19.30	-26.00	52.20	-62.90	-15.90	-3.50	-11.20	-4.90	-6.40
Change in Accounts Payable	3.80	20.60	-73.80	-30.90	-3.30	-12.70	-2.10	8.00	4.70
Change in Other Working Capital	13.80	-0.80	6.30	32.10	0.90	15.80	0.70	-5.40	-9.30
Other Operating Activities	13.80	22.50	6.30	32.10	-70.30	8.20	4.00	6.70	3.60
Net Cash from Operating Activities	133.80	94.80	106.60	202.20	58.00	161.60	160.30	139.10	131.00
Investing Activities
Capital Expenditures	-40.00	-55.60	-66.00	-48.20	-19.40	-33.30	-34.10	-29.70	-40.70
Acquisitions	0.00	0.00	0.00	-462.50	-630.50	-169.30	14.70	0.00	-291.70
Sales/Maturities of Investments	0.00	0.00	0.00	35.80	-2.80	0.00	0.00	0.00	0.00
Other Investing Activities	0.10	-1.10	608.60	-12.00	-0.80	-0.50	4.60	2.20	13.90
Net Cash from Investing Activities	-37.00	-56.70	547.20	-481.30	-636.40	-203.10	-14.80	-27.50	-318.50
Financing Activities
Debt Repayment	-165.00	-25.20	-835.60	-341.20	-54.30	47.40	-80.50	-59.80	233.20
Common Stock Repurchased	-1.40	-0.80	-10.60	-6.90	-3.40	-1.00	-0.90	-3.00	-1.20
Dividends Paid	-22.30	-21.60	-55.30	-72.20	-55.30	-55.00	-54.40	-53.20	-51.90
Other Financing Activities	-3.10	-8.30	-1.50	-22.10	-15.30	0.00	0.00	-4.90	-0.60
Net Cash from Financing Activities	-106.70	-55.90	-662.90	331.50	599.90	-8.60	-135.80	-120.90	179.50
Summary
Effect of Forex Changes on Cash	5.40	-8.10	4.90	-2.70	-1.50	1.80	-0.50	-3.80	7.50
Net Change in Cash	-4.50	-25.90	-4.20	49.70	20.00	-48.30	9.20	-110.70	-99.90
Cash at Beginning of Period	94.30	120.20	124.40	74.70	54.70	103.00	93.80	106.90	107.40
Cash at End of Period	89.80	94.30	120.20	124.40	74.70	54.70	103.00	-3.80	7.50
Free Cash Flow	93.80	39.20	40.60	154.00	38.60	128.30	126.20	109.40	90.30
Supplemental Disclosures
Income Taxes Paid	-	14.90	37.50	26.00	22.40	-	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Mativ Holdings Cash Flow

What is Mativ Holdings's free cash flow?

Mativ Holdings generated free cash flow of $93.80M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $133.80M minus $40.00M of capital expenditures. That was up 139.3% from $39.20M a year earlier. Free cash flow equaled 4.7% of revenue.

How much does Mativ Holdings spend on capital expenditures?

Mativ Holdings spent $40.00M on capital expenditures in fiscal 2025, compared with $55.60M a year earlier. That equals 29.9% of operating cash flow.

Does Mativ Holdings pay dividends or buy back shares?

Yes. In fiscal 2025 Mativ Holdings returned $22.30M in dividends and $1.40M in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition