Materialise NV (MTLS) Fair Value & Analysis
Technology · US · Market cap $390M
Materialise NV
MTLS · US
Fair value as of: Jul 19, 2026
From 24 valuation models · updated 22 days ago
Fair value updated Jul 19, 2026, revised from $2.90 to $2.92 (+0.7%) since Jun 24, 2026. Share price −0.4% over the past month.
A solid business, but screening 57% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case ($3.36). The favourable scenario is already priced in.
- Solid but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.
How to read this chart
60‑month range $4.16 – $29.92 · fair‑value band $2.19 – $3.36 · the $6.85 price screens above the $2.92 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.
Analysis
Materialise NV (MTLS) currently trades at $6.85, while our model-based Fair Value estimate is $2.92, implying the stock looks roughly 57.4% overvalued today. The Quality Score stands at 56/100 (solid quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Materialise NV generated revenue of $268M at a net margin of 3.8%. Revenue declined 0.2% year over year. It earns a return on equity of 4.0%. The balance sheet holds a net cash position of $67.7M. Fundamentals as of Jul 19, 2026
Our scenario range runs from $2.19 (bear case) to $3.36 (bull case); at $6.85, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 2% below its 52-week high and 43% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -27% fair-value upside, at -57%, MTLS screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 24 models by family
Widest divergence: DCF Models ($3.98) versus Earnings-Based ($1.21). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 57 · Market factors (momentum, volatility) 64
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Materialise NV provides additive manufacturing and medical software tools, and 3D printing services in the Americas, Europe, Africa, and the Asia-Pacific. The company operates through three segments: Materialise Software, Materialise Medical, and Materialise Manufacturing.
Full company description
Materialise NV provides additive manufacturing and medical software tools, and 3D printing services in the Americas, Europe, Africa, and the Asia-Pacific. The company operates through three segments: Materialise Software, Materialise Medical, and Materialise Manufacturing. The Materialise Software segment offers proprietary software through programs and platforms that enable and enhance the functionality of 3D printers, and printing operations. Its software interfaces between various types of 3D printers; and various software applications and capturing technologies, including computer-aided design/computer-aided manufacturing packages and 3D scanners; a MES, software providers. This segment serves 3D printing machine manufacturers; production companies and contract manufacturers in automotive, aerospace, consumer goods, and hearing aid industries; and 3D printing service bureaus through its sales force, website, and third-party distributors. The Materialise Medical segment provides medical software that allows medical-image based analysis, planning, and engineering, as well as patient-specific design and printing of surgical devices and implants. It serves medical device companies, hospitals, universities, research institutes, and industrial companies. The Materialise Manufacturing segment provides 3D printing services, design and engineering services, and rapid prototyping and additive manufacturing of production parts to customers serving the automotive, consumer goods industrial goods, semiconductor, art and architecture and aerospace markets. The company has collaboration agreements with Zimmer Biomet Holdings, Inc.; Encore Medical, L.P.; DePuy Synthes Companies of Johnson & Johnson; Limacorporate Spa; Mathys AG; Smith & Nephew Inc.; Corin Ltd; Medtronic Inc.; and Abbott Laboratories Inc. Materialise NV was incorporated in 1990 and is headquartered in Leuven, Belgium.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Materialise NV reported revenue of $257M in FY2025 versus $205M in FY2021, a compound +5.8%/yr. Reported net income was $7.4M in FY2025, compounding −13.4%/yr from FY2021.
MTLS screens 57% overvalued. Compare with SAP SE →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- MATERIALISE NV RESULTS OF ANNUAL GENERAL SHAREHOLDERS’ MEETING OF 16 JUNE 2026
- Materialise (MTLS) Q1 2026 Earnings Transcript
- Materialise Q1 Earnings Call Highlights
- Materialise GAAP EPS of €0.03, revenue of €66.28M; reaffirms FY26 outlook
Peer Group
Software - Application · 709 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Software - Application median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Software - Application stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| SAP SE SAPS | C$12.69 | C$16.26 | +28% |
| Shopify Inc SHOP | C$173.23 | C$20.54 | -88% |
| Uber Technologies, Inc UBER | $72.67 | $51.11 | -30% |
| Salesforce, Inc CRM | $170.77 | $182.10 | +7% |
| ServiceNow, Inc NOW | $107.71 | $33.12 | -69% |
| Cadence Design Systems, Inc CDNS | $384.17 | $80.41 | -79% |
| Snowflake Inc SNOW | $271.87 | $34.04 | -87% |
| Adobe Inc ADBE | $230.61 | $379.48 | +65% |
| Automatic Data Processing, Inc ADP | $241.92 | $177.51 | -27% |
| Intuit Inc INTU | $291.09 | $258.69 | -11% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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