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Side-by-side financial comparison of MASIMO CORP (MASI) and MATERION Corp (MTRN). Click either name above to swap in a different company.
MATERION Corp is the larger business by last-quarter revenue ($549.8M vs $371.5M, roughly 1.5× MASIMO CORP). MATERION Corp runs the higher net margin — 3.5% vs -27.0%, a 30.5% gap on every dollar of revenue. On growth, MATERION Corp posted the faster year-over-year revenue change (30.8% vs -26.4%). Over the past eight quarters, MATERION Corp's revenue compounded faster (13.6% CAGR vs -17.7%).
Masimo Corporation is an American health technology and consumer electronics company headquartered in Irvine, California. The company develops patient monitoring devices, non-invasive sensors, and related software platforms used in hospital and home settings. Masimo has also operated in the consumer audio and wearable device markets.
Materion Corp. is a multinational company specializing in high-performance advanced materials. Among its products are advanced beryllium metals, thin film deposition materials, high-performance alloys and composites, specialty engineered beryllium, engineered metals, technical ceramics, tantalum, niobium, other precious and non-precious metals, inorganic chemicals, and specialty coatings.
MASI vs MTRN — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $371.5M | $549.8M |
| Net Profit | $-100.4M | $19.4M |
| Gross Margin | 62.1% | 14.9% |
| Operating Margin | 22.5% | 5.1% |
| Net Margin | -27.0% | 3.5% |
| Revenue YoY | -26.4% | 30.8% |
| Net Profit YoY | -1124.5% | 9.5% |
| EPS (diluted) | $-1.84 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $549.8M | ||
| Q4 25 | — | $489.8M | ||
| Q3 25 | $371.5M | $444.8M | ||
| Q2 25 | $370.9M | $431.7M | ||
| Q1 25 | $372.0M | $420.3M | ||
| Q4 24 | $600.7M | $436.9M | ||
| Q3 24 | $504.6M | $436.7M | ||
| Q2 24 | $496.3M | $425.9M |
| Q1 26 | — | $19.4M | ||
| Q4 25 | — | $6.6M | ||
| Q3 25 | $-100.4M | $25.4M | ||
| Q2 25 | $51.3M | $25.1M | ||
| Q1 25 | $-170.7M | $17.7M | ||
| Q4 24 | $-349.6M | $-48.9M | ||
| Q3 24 | $9.8M | $22.3M | ||
| Q2 24 | $16.0M | $19.0M |
| Q1 26 | — | 14.9% | ||
| Q4 25 | — | 13.0% | ||
| Q3 25 | 62.1% | 19.4% | ||
| Q2 25 | 62.9% | 19.1% | ||
| Q1 25 | 62.9% | 18.1% | ||
| Q4 24 | 40.7% | 21.3% | ||
| Q3 24 | 52.2% | 18.5% | ||
| Q2 24 | 51.3% | 19.0% |
| Q1 26 | — | 5.1% | ||
| Q4 25 | — | 2.2% | ||
| Q3 25 | 22.5% | 7.9% | ||
| Q2 25 | 17.4% | 8.5% | ||
| Q1 25 | 21.0% | 6.5% | ||
| Q4 24 | -59.8% | -8.8% | ||
| Q3 24 | 6.0% | 7.2% | ||
| Q2 24 | 5.7% | 7.5% |
| Q1 26 | — | 3.5% | ||
| Q4 25 | — | 1.3% | ||
| Q3 25 | -27.0% | 5.7% | ||
| Q2 25 | 13.8% | 5.8% | ||
| Q1 25 | -45.9% | 4.2% | ||
| Q4 24 | -58.2% | -11.2% | ||
| Q3 24 | 1.9% | 5.1% | ||
| Q2 24 | 3.2% | 4.5% |
| Q1 26 | — | — | ||
| Q4 25 | — | $0.30 | ||
| Q3 25 | $-1.84 | $1.22 | ||
| Q2 25 | $0.94 | $1.21 | ||
| Q1 25 | $-3.12 | $0.85 | ||
| Q4 24 | $-6.54 | $-2.34 | ||
| Q3 24 | $0.18 | $1.07 | ||
| Q2 24 | $0.29 | $0.91 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $312.3M | $16.2M |
| Total DebtLower is stronger | $559.1M | $489.9M |
| Stockholders' EquityBook value | $810.0M | $957.0M |
| Total Assets | $1.8B | $1.9B |
| Debt / EquityLower = less leverage | 0.69× | 0.51× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $16.2M | ||
| Q4 25 | — | $13.7M | ||
| Q3 25 | $312.3M | $16.4M | ||
| Q2 25 | $149.6M | $12.6M | ||
| Q1 25 | $130.8M | $15.6M | ||
| Q4 24 | $177.6M | $16.7M | ||
| Q3 24 | $158.5M | $17.9M | ||
| Q2 24 | $129.6M | $17.1M |
| Q1 26 | — | $489.9M | ||
| Q4 25 | — | $460.6M | ||
| Q3 25 | $559.1M | $458.9M | ||
| Q2 25 | $613.7M | $427.6M | ||
| Q1 25 | $651.0M | $453.0M | ||
| Q4 24 | $765.2M | $443.9M | ||
| Q3 24 | $772.6M | — | ||
| Q2 24 | $781.6M | — |
| Q1 26 | — | $957.0M | ||
| Q4 25 | — | $943.3M | ||
| Q3 25 | $810.0M | $934.6M | ||
| Q2 25 | $1.0B | $910.6M | ||
| Q1 25 | $946.4M | $887.9M | ||
| Q4 24 | $1.1B | $868.9M | ||
| Q3 24 | $1.5B | $931.9M | ||
| Q2 24 | $1.4B | $907.1M |
| Q1 26 | — | $1.9B | ||
| Q4 25 | — | $1.8B | ||
| Q3 25 | $1.8B | $1.8B | ||
| Q2 25 | $2.4B | $1.7B | ||
| Q1 25 | $2.3B | $1.8B | ||
| Q4 24 | $2.6B | $1.7B | ||
| Q3 24 | $3.1B | $1.9B | ||
| Q2 24 | $2.9B | $1.8B |
| Q1 26 | — | 0.51× | ||
| Q4 25 | — | 0.49× | ||
| Q3 25 | 0.69× | 0.49× | ||
| Q2 25 | 0.59× | 0.47× | ||
| Q1 25 | 0.69× | 0.51× | ||
| Q4 24 | 0.73× | 0.51× | ||
| Q3 24 | 0.53× | — | ||
| Q2 24 | 0.57× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $56.8M | — |
| Free Cash FlowOCF − Capex | $50.9M | — |
| FCF MarginFCF / Revenue | 13.7% | — |
| Capex IntensityCapex / Revenue | 1.6% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $191.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $19.5M | ||
| Q3 25 | $56.8M | $18.3M | ||
| Q2 25 | $69.4M | $49.9M | ||
| Q1 25 | $31.1M | $15.5M | ||
| Q4 24 | $50.5M | $76.3M | ||
| Q3 24 | $25.6M | $5.1M | ||
| Q2 24 | $74.5M | $20.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $50.9M | — | ||
| Q2 25 | $65.6M | — | ||
| Q1 25 | $28.5M | $3.2M | ||
| Q4 24 | $46.0M | — | ||
| Q3 24 | $16.9M | $-24.3M | ||
| Q2 24 | $66.9M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 13.7% | — | ||
| Q2 25 | 17.7% | — | ||
| Q1 25 | 7.7% | 0.8% | ||
| Q4 24 | 7.7% | — | ||
| Q3 24 | 3.3% | -5.6% | ||
| Q2 24 | 13.5% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 1.6% | — | ||
| Q2 25 | 1.0% | — | ||
| Q1 25 | 0.7% | 2.9% | ||
| Q4 24 | 0.7% | — | ||
| Q3 24 | 1.7% | 6.7% | ||
| Q2 24 | 1.5% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.97× | ||
| Q3 25 | — | 0.72× | ||
| Q2 25 | 1.35× | 1.99× | ||
| Q1 25 | — | 0.88× | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.61× | 0.23× | ||
| Q2 24 | 4.66× | 1.07× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
