Materion (MTRN) Cash Flow: Operating & Free Cash Flow

Materion (MTRN) Cash Flow Statement

In fiscal 2025 (fiscal year ended Dec 31, 2025), Materion generated $103.24M of operating cash flow and spent $79.57M on capital expenditures. That left free cash flow of $23.68M, up 237.8% from $7.01M a year earlier, or 1.3% of revenue. It returned $19.35M to shareholders through $11.51M in dividends and $7.84M in share buybacks.

Materion 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 Materion Corporation (MTRN) - 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	74.82	5.89	95.70	85.99	72.47	15.46	50.66	20.85	11.45
Depreciation & Amortization	69.07	68.68	61.64	53.44	44.14	53.27	59.32	2.27	41.60
Deferred Income Tax	-5.10	-16.60	-7.01	1.73	-12.96	-9.85	2.58	-1.32	20.26
Stock Based Compensation	10.93	10.56	0.00	8.81	6.52	5.53	7.17	5.31	4.96
Change in Working Capital	-35.22	-62.93	-16.58	-34.80	-21.05	35.48	-20.40	7.91	-5.56
Change in Accounts Receivable	-25.79	-3.72	23.36	-4.38	-30.49	-0.71	-23.93	-7.22	-18.48
Change in Inventory	-13.30	-0.47	-18.70	-63.99	-43.46	-1.29	24.03	4.23	-9.46
Change in Accounts Payable	33.52	-15.76	6.63	12.86	40.22	-21.88	-18.58	8.82	34.43
Change in Other Working Capital	-11.62	-31.43	-27.87	1.47	39.26	59.36	-1.93	2.07	-12.05
Other Operating Activities	-11.62	65.62	10.65	1.47	-11.84	1.17	-0.11	41.36	36.69
Net Cash from Operating Activities	103.24	87.82	144.41	115.96	90.24	101.06	99.22	76.37	67.80
Investing Activities
Capital Expenditures	-79.57	-80.81	-119.88	-77.61	-102.91	-67.27	-26.53	-34.26	-29.08
Acquisitions	-19.50	0.00	0.00	-2.97	-392.24	-130.72	0.04	0.43	-16.50
Purchases of Investments	0.00	0.00	0.00	0.00	0.00	-3.22	0.00	0.00	0.00
Sales/Maturities of Investments	0.00	0.00	0.00	0.00	0.00	3.25	0.00	0.00	0.00
Other Investing Activities	-25.36	1.20	0.65	0.85	0.88	3.25	0.00	0.43	2.22
Net Cash from Investing Activities	-98.14	-79.61	-119.22	-79.73	-494.27	-194.71	-26.48	-33.83	-43.36
Financing Activities
Debt Repayment	-18.78	-30.34	-9.00	-22.04	-2.05	11.15	-2.02	-1.64	-1.94
Common Stock Issued	0.00	0.00	0.00	0.00	3.32	0.00	0.00	0.00	0.00
Common Stock Repurchased	-7.84	-7.61	-5.23	-3.59	-3.32	-6.77	-0.20	-0.42	-1.09
Dividends Paid	-11.51	-11.09	-10.62	-10.16	-9.70	-9.26	-8.86	-8.39	-7.91
Other Financing Activities	-5.58	-0.16	0.00	-3.59	-7.40	-2.22	-6.98	-3.16	-4.51
Net Cash from Financing Activities	-9.82	-4.19	-24.85	-35.56	393.01	-7.09	-18.05	-13.61	-15.45
Summary
Effect of Forex Changes on Cash	1.68	-0.61	-0.15	-2.03	-0.39	1.61	-0.32	-0.14	1.39
Net Change in Cash	-3.03	3.42	0.19	-1.36	-11.42	-99.13	54.36	28.80	10.38
Cash at Beginning of Period	16.71	13.29	13.10	14.46	25.88	125.01	70.65	41.84	31.46
Cash at End of Period	13.68	16.71	13.29	13.10	14.46	25.88	125.01	70.65	41.84
Free Cash Flow	23.68	7.01	24.54	38.35	-12.67	33.78	72.69	42.11	38.72
Supplemental Disclosures
Interest Paid	29.55	35.92	32.04	21.19	3.65	-	-	-	-
Income Taxes Paid	-	11.50	7.50	14.50	21.80	-	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jul 3, 2026. Data sources and methodology

Frequently Asked Questions About Materion Cash Flow

What is Materion's free cash flow?

Materion generated free cash flow of $23.68M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $103.24M minus $79.57M of capital expenditures. That was up 237.8% from $7.01M a year earlier. Free cash flow equaled 1.3% of revenue.

How much does Materion spend on capital expenditures?

Materion spent $79.57M on capital expenditures in fiscal 2025, compared with $80.81M a year earlier. That equals 77.1% of operating cash flow.

Does Materion pay dividends or buy back shares?

Yes. In fiscal 2025 Materion returned $11.51M in dividends and $7.84M 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