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Materialise NV (MTLS)

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Upturn Advisory Summary
01/02/2026: MTLS (1-star) is currently NOT-A-BUY. Pass it for now.
1 Year Target Price $9.05
1 Year Target Price $9.05
| 1 | Strong Buy |
| 1 | Buy |
| 0 | Hold |
| 0 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -38.67% | Avg. Invested days 31 | Today’s Advisory PASS |
Upturn Star Rating ![]() | Upturn Advisory Performance | Stock Returns Performance |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 339.71M USD | Price to earnings Ratio 60.56 | 1Y Target Price 9.05 |
Price to earnings Ratio 60.56 | 1Y Target Price 9.05 | ||
Volume (30-day avg) 2 | Beta 1.12 | 52 Weeks Range 3.93 - 9.69 | Updated Date 01/3/2026 |
52 Weeks Range 3.93 - 9.69 | Updated Date 01/3/2026 | ||
Dividends yield (FY) - | Basic EPS (TTM) 0.09 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 1.68% | Operating Margin (TTM) 3.81% |
Management Effectiveness
Return on Assets (TTM) 0.71% | Return on Equity (TTM) 1.77% |
Valuation
Trailing PE 60.56 | Forward PE - | Enterprise Value 255196028 | Price to Sales(TTM) 1.29 |
Enterprise Value 255196028 | Price to Sales(TTM) 1.29 | ||
Enterprise Value to Revenue 0.82 | Enterprise Value to EBITDA 6.76 | Shares Outstanding 59067186 | Shares Floating 24177895 |
Shares Outstanding 59067186 | Shares Floating 24177895 | ||
Percent Insiders 5.3 | Percent Institutions 14.33 |
Upturn AI SWOT
Materialise NV

Company Overview
History and Background
Materialise NV was founded in 1990 in Leuven, Belgium, by a team of engineers and medical professionals who saw the potential of 3D printing for creating personalized medical devices. The company has since evolved into a leading provider of 3D printing software and services, serving various industries including healthcare, automotive, aerospace, and consumer goods. Key milestones include the development of its Mimics software for medical image processing, the expansion of its manufacturing services, and its listing on the NASDAQ stock exchange.
Core Business Areas
- Software: Materialise offers a comprehensive suite of 3D printing software solutions. This includes platforms for design, engineering, and manufacturing, enabling users to create, prepare, and manage 3D printed parts. Key software products include Magics, Mimics, Streamics, and Build Processors.
- 3D Printing Services: Materialise operates a substantial 3D printing service bureau, offering on-demand manufacturing of prototypes, functional parts, and end-use products. They specialize in a wide range of 3D printing technologies and materials, catering to complex and high-precision applications.
- Medical Solutions: A significant segment focused on developing and manufacturing personalized medical devices, surgical guides, implants, and anatomical models. Their Mimics Innovation Suite is a cornerstone of this business, enabling clinicians and researchers to translate medical imaging into patient-specific treatments.
Leadership and Structure
Materialise NV is led by its co-founders and executive team. Fried Vancauteren is the Chief Executive Officer. The company is structured into business units aligned with its core offerings, including software, medical, and industrial segments, allowing for focused development and market penetration.
Top Products and Market Share
Key Offerings
- Description: A leading software platform for medical image segmentation, 3D model creation, and surgical planning. It enables the creation of patient-specific anatomical models and devices. Competitors include Dassault Systu00e8mes (3DEXPERIENCE), OsiriX, and Amira.
- Market Share Data: Difficult to quantify precise market share due to specialized nature, but considered a dominant player in medical imaging-based 3D modeling software.
- Product Name 1: Mimics Innovation Suite
- Description: A comprehensive 3D printing preparation software that allows users to edit, repair, and optimize 3D models for manufacturing. It's widely used across various industries. Competitors include Stratasys (GrabCAD Print), Ultimaker (UltiMaker Cura), and nTopology.
- Market Share Data: Considered a market leader in 3D print preparation software, but specific market share figures are not publicly disclosed.
- Product Name 2: Magics Software
- Description: Materialise offers a broad range of industrial-grade 3D printing services, utilizing diverse technologies and materials for prototyping and production. Competitors include Shapeways, Protolabs, Xometry, and other large service bureaus.
- Market Share Data: The 3D printing services market is fragmented. Materialise is a significant player, particularly in specialized applications and medical devices, but precise market share is not readily available.
- Product Name 3: 3D Printing Services (e.g., Metal Printing, Polymer Printing)
Market Dynamics
Industry Overview
Materialise operates in the rapidly growing additive manufacturing (3D printing) industry, which is experiencing significant expansion driven by technological advancements, increased adoption in various sectors, and the demand for customization and on-demand production. Key trends include the development of new materials, faster printing speeds, and the integration of AI and automation.
Positioning
Materialise is positioned as a comprehensive solutions provider in the 3D printing ecosystem, offering both essential software tools and high-quality manufacturing services. Its strength lies in its deep expertise in medical applications and its ability to bridge the gap between design and production.
Total Addressable Market (TAM)
The global 3D printing market is projected to reach hundreds of billions of dollars in the coming years, encompassing hardware, software, materials, and services. Materialise is well-positioned to capture a significant portion of the software and services segments, especially within the healthcare and industrial sectors.
Upturn SWOT Analysis
Strengths
- Strong leadership in medical 3D printing software (Mimics).
- Comprehensive suite of software solutions for the entire 3D printing workflow.
- Extensive experience and capacity in industrial 3D printing services.
- Established relationships with leading healthcare providers and industrial companies.
- Innovation-driven culture with a strong R&D focus.
Weaknesses
- Dependence on key software products like Mimics for a significant portion of revenue.
- Competition from larger, more diversified technology companies entering the 3D printing space.
- Relatively smaller market capitalization compared to some direct competitors.
- Potential for margin pressure in the highly competitive 3D printing services market.
Opportunities
- Continued growth and adoption of 3D printing in healthcare, aerospace, automotive, and consumer goods.
- Expansion into new geographical markets and emerging applications.
- Development of new software features and AI-driven functionalities.
- Strategic partnerships and acquisitions to expand offerings and market reach.
- Increasing demand for personalized products and mass customization.
Threats
- Rapid technological advancements by competitors that could render current offerings obsolete.
- Economic downturns affecting industrial investment and R&D spending.
- Supply chain disruptions impacting material availability and cost.
- Regulatory changes in the healthcare sector impacting medical device development.
- Increasing price competition in the 3D printing services market.
Competitors and Market Share
Key Competitors
- Proto Labs Inc. (PRLB)
- 3D Systems Corporation (DDD)
- Stratasys Ltd. (SSYS)
Competitive Landscape
Materialise differentiates itself through its specialized software, particularly in the medical field, and its integrated service offerings. While competitors like Stratasys and 3D Systems are larger and have broader hardware portfolios, Materialise's strength lies in its software ecosystem and deep understanding of complex 3D printing applications. Proto Labs competes more directly in the service bureau space.
Growth Trajectory and Initiatives
Historical Growth: Materialise has demonstrated consistent revenue growth over the past decade, fueled by the expanding additive manufacturing market and its strong position in specialized software and services. The company has successfully transitioned from a niche player to a significant entity in the industry.
Future Projections: Analyst consensus generally forecasts continued revenue growth for Materialise in the coming years, driven by increasing adoption of 3D printing technologies across industries and ongoing innovation in its software and service offerings. The medical segment is expected to be a key growth driver.
Recent Initiatives: Recent initiatives have focused on expanding its service bureau capabilities, developing new software modules for advanced applications, and forging strategic partnerships to enhance its market reach and technological offerings.
Summary
Materialise NV is a robust player in the growing 3D printing industry, particularly strong in its specialized software solutions for medical applications and its comprehensive 3D printing services. Its historical revenue growth and consistent profit margins are positive indicators. However, it faces fierce competition from larger players and must continue to innovate to maintain its market position. Its lack of dividends means shareholder returns are solely dependent on stock appreciation.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Materialise NV Investor Relations
- Company Annual Reports (10-K)
- Financial News Outlets (e.g., Bloomberg, Reuters)
- Industry Market Research Reports
Disclaimers:
This analysis is based on publicly available information and may not be exhaustive. Financial data is subject to change and interpretation. This is not financial advice. Investors should conduct their own due diligence.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Materialise NV
Exchange NASDAQ | Headquaters - | ||
IPO Launch date 2014-06-25 | CEO - | ||
Sector Technology | Industry Software - Application | Full time employees 488 | Website https://www.materialise.com |
Full time employees 488 | Website https://www.materialise.com | ||
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 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 through its direct sales force, website, and picture archiving and communication system. 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.

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