Matrix Service Company

MTRX · Industrials · $280M mkt cap · FY2026 filings · · No moat ·

Doesn't clear the bar

No moat
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The five investor questions

51

2022–2026 (latest 5 aligned FYs; v3 window cap 5): revenue $708M to $874M, increasing; diluted EPS -2.39 to -0.09, increasing.

0

Median gross margin 6.2% over 10y, variable.

0

Median ROIC -15.5%, above the 12% hurdle in 0% of years.

28

Net debt/EBITDA n/ax, interest coverage -22x.

18

Owner earnings changed -26.8%/yr over up to the ten most recent annual observations.

Price vs. value if growth stopped today

A cautious baseline, not a price target: what the shares may support if normalized owner earnings simply hold steady.

Above value if growth stopped todayBelow value if growth stopped today
No price data
Not reported
Unavailable — insufficient owner-earnings data
Unavailable — insufficient growth-model data
$10.14
No price data

This zero-growth estimate assumes trailing owner earnings persist — unreliable for declining businesses. The recent FY revenue series does not trigger the three-consecutive-declines flag.

Among the current top-score group, the median current price is 255% above the zero-growth estimate across 49 of the current top 50 companies by Moat Score with both values.

Score records captured Oct 16, 2026.

Exactly which 50 companies?

FTNT, IBEX, META, MEDP, MSFT, GOOG, LULU, ANF, IDXX, TXRH, FHI, QLYS, FFIV, ADBE, LLY, MANH, CPRT, VEEV, RMD, GRMN, PCTY, EAT, UI, SSD, MNST, DOCS, LRCX, MCO, NTAP, NVDA, CORT, SFM, MPTI, ULTA, SN, ROL, CTAS, PAYC, IRMD, DECK, MORN, INTU, JKHY, TPR, LGCY, DAL, GWW, ISRG, MPWR, LOPE

Missing a usable price or zero-growth estimate: ANF.

Model details under moat-index@3.0.0: zero-growth multiple 11.1×, capped-growth comparison at no more than 18×; 9% discount rate; high-end growth 0% (capped at 4%) using min(5y revenue CAGR, 5y diluted-EPS CAGR), clamped to 0%–4%; maintenance capex uses min(capex, D&A); abstain when D&A is unavailable. This is a disclosed model range, not intrinsic value as fact.

18 years of fundamentals

The business, in plain English

Matrix Service Company booked $874M of revenue in FY2026 in the Industrials sector and kept 7.3% of it as gross profit — a thin-margin business by that measure. After every other cost, −0.3% of each revenue dollar reached the bottom line.

Across the filed record, revenue grew from $553M (FY2010) to $874M (FY2026) — about 2.9% a year compounded over 16 years.

ROIC is not available for the latest filed year, FY2026. Across the full 15-year measurable filed record, median ROIC was 2.7%. Over the v3 recent window (8 measurable filed years), median ROIC was −15.5%. The Returns on Capital filter above scores it 0/100.

MTRX's latest filed year, FY2026, doesn't disclose total debt in a form the methodology can use, so current leverage is treated as unmeasured — never assumed to be zero.

Put together: Business Trend is the strongest of the five filters (51/100) and Pricing Power the weakest (0/100), which is how MTRX lands at 19/100 — a None moat.

This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.

FY2009–FY2026 · 18 fiscal years, normalized from MTRX’s SEC filings

Sales, as filed$874M FY2026
$0$1B2009201520212026
Revenue kept after cost of goods7.3% FY2026
0%5%10%2009201520212026
Standard ROIC or separately labeled Operating ROIC

Exact FY and FY-1 financing invested-capital inputs are required.

Exact FY and FY-1 financing invested-capital inputs are required.

Cash an owner could take out$577000 FY2026
−$50M$02009201520212026

The explained ROIC gaps have filed inputs but no meaningful positive invested-capital denominator. Other gaps mean the item is not in the filings for that year. The series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.

Flagship explainer

How Matrix Service Company makes its money

Start with a dollar of revenue and follow what the filing says remains.

revenueBranching filed flows with values and percentages directly labeled. Missing filing concepts are omitted rather than estimated.Revenue$874M · 100%Cost of revenue$810M · 93%Gross profit$64M · 7%Operating income−$9.6M · −1%Income before tax−$2.2M · −0%Income tax$356000 · 0%Net income−$2.6M · −0%As of 2026-06-30 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com

Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.

Table alternative
Filed lineValue% of revenueSource
$874M100%
Cost of revenue$810M93%
$64M7%
−$9.6M−1%
Income before tax−$2.2M−0%
Income tax$3560000%
−$2.6M−0%
Source: · event Jun 30, 2026 · retrieved Oct 16, 2026 · annual-row source set
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Flagship explainer

What Matrix Service Company owns — and owes

Matrix Service Company's filing tags don't support a full breakdown — here's what is filed:

Table alternative
Filed lineValue% of assetsSource
Total assets$603M100%
Cash and equivalents$223M37%
Stockholders’ equity$142M24%
Source: · event Jun 30, 2026 · retrieved Oct 16, 2026 · annual-row source set

Flagship explainer

What drives Matrix Service Company’s return on equity?

ROE is five filed business factors multiplied together.

DuPont return on equity factor treeReturn on equity branches into tax burden, interest burden, operating margin, asset turnover, and the equity multiplier.Return on equity−2%Tax burden116%net income ÷ pretax incomeInterest burden23%pretax ÷ operating incomeOperating margin−1%operating income ÷ revenueAsset turnover1.45×revenue ÷ average assetsEquity multiplier4.23×average assets ÷ average equityAs of 2026-06-30 · 2 SEC filing sourcesBuy Like Buffett · buylikebuffett.com
DuPont source inputs
InputValueFiscal yearSource
−$2.6MFY2026
Income before tax−$2.2MFY2026
Operating income−$9.6MFY2026
$874MFY2026
Ending assets$603MFY2026
Beginning assets$600MFY2025
$142MFY2026
$143MFY2025
Source: · event Jun 30, 2026 · retrieved Oct 16, 2026 · annual-row source set
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Flagship explainer

Where Matrix Service Company's cash went

Matrix Service Company’s filing does not supply enough provenance-matched cash-flow lines for a truthful flow chart — here’s what is filed:

Table alternative
Filed lineValue% of cash from operationsSource
Cash from operations$6.9M100%
Depreciation and amortization$8.6M125%
Source: · event Jun 30, 2026 · retrieved Oct 16, 2026 · annual-row source set

Curated 19-manager tier

Who reported holding Matrix Service Company

Delayed public 13F reports for 2026-Q2—not live positions, trades, or recommendations.

1 holding0 exited17 not holding18/19 resolved1 not retrieved

Named manager positions and quarter-over-quarter changes
ManagerReported positionQuarter-over-quarterFiling accession
First Eagle1,980,434 shares$27.1M · 0% of eligible reported 13FAdded to position · +1,129,625 shares (133%)
Abrams CapitalNo position reportedNo position reported
Akre CapitalNo position reportedNo position reported
Baupost GroupNo position reportedNo position reported
Berkshire HathawayNo position reportedNo position reported
Brave Warrior AdvisorsNo position reportedNo position reported
Dodge & CoxNo position reportedNo position reported
FundsmithNo position reportedNo position reported
Gardner Russo & QuinnNo position reportedNo position reported
Gates Foundation TrustNo position reportedNo position reported
Mairs & PowerNo position reportedNo position reported
Markel / Markel-GaynerNo position reportedNo position reported
Oakmark / Harris AssociatesNo position reportedNo position reported
Polen CapitalNo position reportedNo position reported
Sequoia / Ruane CunniffNo position reportedNo position reported
Southeastern Asset ManagementNo position reportedNo position reported
Tweedy, BrowneNo position reportedNo position reported
Yacktman Asset ManagementNo position reportedNo position reported
Pershing SquareNot retrievedComparison not retrievedFiling not retrieved

Position size uses shares and filed value from each manager’s 13F. Portfolio weight uses the eligible long-share filing denominator. Changes compare only with the immediately preceding calendar quarter.

Source:
37 SEC filings
  1. 13F-HR · Q1 2026Filing detailsAccession 0000813917-26-000038 · filed May 15, 2026
  2. 13F-HR · Q2 2026Filing detailsAccession 0000813917-26-000042 · filed Aug 14, 2026
  3. 13F-HR · Q1 2026Filing detailsAccession 0000860643-26-000003 · filed May 13, 2026
  4. 13F-HR · Q2 2026Filing detailsAccession 0000860643-26-000005 · filed Aug 13, 2026
  5. 13F-HR · Q1 2026Filing detailsAccession 0000905567-26-000002 · filed May 1, 2026
  6. 13F-HR · Q2 2026Filing detailsAccession 0000905567-26-000003 · filed Aug 11, 2026
  7. 13F-HR · Q1 2026Filing detailsAccession 0000919574-26-003132 · filed May 15, 2026
  8. 13F-HR · Q2 2026Filing detailsAccession 0000919574-26-005176 · filed Aug 14, 2026
  9. 13F-HR · Q1 2026Filing detailsAccession 0001061768-26-000007 · filed May 14, 2026
  10. 13F-HR · Q2 2026Filing detailsAccession 0001061768-26-000010 · filed Aug 13, 2026
  11. 13F-HR · Q1 2026Filing detailsAccession 0001096343-26-000044 · filed May 1, 2026
  12. 13F-HR · Q2 2026Filing detailsAccession 0001096343-26-000065 · filed Jul 31, 2026
  13. 13F-HR · Q1 2026Filing detailsAccession 0001104659-26-062592 · filed May 15, 2026
  14. 13F-HR · Q2 2026Filing detailsAccession 0001104659-26-097175 · filed Aug 14, 2026
  15. 13F-HR · Q1 2026Filing detailsAccession 0001112520-26-000009 · filed May 14, 2026
  16. 13F-HR · Q2 2026Filing detailsAccession 0001112520-26-000014 · filed Aug 14, 2026
  17. 13F-HR · Q1 2026Filing detailsAccession 0001172661-26-001819 · filed May 14, 2026
  18. 13F-HR · Q1 2026Filing detailsAccession 0001172661-26-001911 · filed May 14, 2026
  19. 13F-HR · Q1 2026Filing detailsAccession 0001172661-26-001966 · filed May 14, 2026
  20. 13F-HR · Q1 2026Filing detailsAccession 0001172661-26-002294 · filed May 15, 2026
  21. 13F-HR · Q2 2026Filing detailsAccession 0001172661-26-003035 · filed Aug 4, 2026
  22. 13F-HR · Q2 2026Filing detailsAccession 0001172661-26-003402 · filed Aug 13, 2026
  23. 13F-HR · Q2 2026Filing detailsAccession 0001172661-26-003496 · filed Aug 14, 2026
  24. 13F-HR · Q2 2026Filing detailsAccession 0001172661-26-003728 · filed Aug 14, 2026
  25. 13F-HR · Q1 2026Filing detailsAccession 0001193125-26-208439 · filed May 6, 2026
  26. 13F-HR · Q1 2026Filing detailsAccession 0001193125-26-223352 · filed May 14, 2026
  27. 13F-HR · Q1 2026Filing detailsAccession 0001193125-26-226661 · filed May 15, 2026
  28. 13F-HR · Q2 2026Filing detailsAccession 0001193125-26-340443 · filed Aug 7, 2026
  29. 13F-HR · Q2 2026Filing detailsAccession 0001193125-26-349535 · filed Aug 13, 2026
  30. 13F-HR · Q2 2026Filing detailsAccession 0001193125-26-352200 · filed Aug 14, 2026
  31. 13F-HR/A · Q1 2026 · Amendment RESTATEMENTFiling detailsAccession 0001325447-26-000018 · filed May 14, 2026
  32. 13F-HR · Q2 2026Filing detailsAccession 0001325447-26-000020 · filed Aug 5, 2026
  33. 13F-HR/A · Q2 2026 · Amendment NEW HOLDINGSFiling detailsAccession 0001325447-26-000033 · filed Aug 24, 2026
  34. 13F-HR · Q1 2026Filing detailsAccession 0001398344-26-009296 · filed May 15, 2026
  35. 13F-HR · Q2 2026Filing detailsAccession 0001398344-26-014641 · filed Aug 14, 2026
  36. 13F-HR · Q1 2026Filing detailsAccession 0001569205-26-000005 · filed May 15, 2026
  37. 13F-HR · Q2 2026Filing detailsAccession 0001569205-26-000012 · filed Aug 14, 2026
· event Jun 30, 2026 · retrieved Oct 16, 2026

Flagship explainer

What Matrix Service Company insiders reported

Records still being gathered — partial as of retrieval Oct 16, 2026.

Partial coverage: the incomplete Form 4 walk cannot establish no activity, an activity date, or zero counts.

Moat Score history

27 logged readings since Jul 17, 2026 · append-only, never rewritten

Moat Score over timeLast scored reading of each day, on the 0–100 scale19.2 / 100
0406080100WideNarrowShallowNo moatJul 17, 2026Oct 16, 2026

Breaks in the line mark methodology or normalizer upgrades — readings across versions aren’t compared, so a level shift there isn’t a change in the business.

Tier changesSame-methodology and same-normalizer crossings of the Wide / Narrow / Shallow bars

  1. Normalizer upgraded unstamped (version unknown)tomoat-xbrl-normalizer@1.1.0 — readings across versions aren’t comparedJul 26, 2026
  2. Methodology upgraded moat-index@2.0.0tomoat-index@3.0.0 — readings across versions aren’t comparedJul 23, 2026
  3. Methodology upgraded moat-index@1.2.0tomoat-index@2.0.0 — readings across versions aren’t comparedJul 20, 2026

Scores are logged append-only and never overwritten — this record cannot be reconstructed retroactively, which is exactly why it’s worth keeping.

Insider activity

Form 4 reports mix P/S market or private transactions with compensation-plan mechanics. Activity casually described as “insider selling” can include compensation mechanics; awards, tax withholding, and option exercises are shown by their exact filed class here, never collapsed into “Bought” or “Sold.”

These are disclosed filing facts and arithmetic aggregates, not a signal or verdict.

This machine-readable surface covers SEC ownership filings from 2003; it does not represent earlier paper-era records.

Records still being gathered — partial as of retrieval Oct 16, 2026.

4 filings were skipped because the SEC primary document returned 404; the omission is disclosed and aggregates are withheld.

Among the rows shown, A/F/M acquisition, payment or withholding, and exercise or conversion rows outnumber S sale rows (55 versus 0). The filing codes alone do not establish that every such row arose from a compensation plan.

Trailing-12-month totals and the 90-day cluster result are withheld because this issuer walk is incomplete.

InsiderShares owned afterDateFiling detail
MILLER DAVID (JAMES)VP & General CounselExercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 1 paired event967Not disclosedNot disclosed24,713Aug 30, 2026
1 filed lot
  • Table I · Common Stock: 967 shares at Not disclosed · code M · owned after 24,713 · Paired event: 967 Restricted Stock Units → 967 Common Stock ·
MILLER DAVID (JAMES)VP & General CounselDisposition to the issuer (D)Table I · Disposed · Common Stock967$10.83$10,47323,746Aug 30, 2026
1 filed lot
  • Table I · Common Stock: 967 shares at $10.83 · code D · owned after 23,746 ·
MILLER DAVID (JAMES)VP & General CounselPayment of exercise price or tax liability (F)Table I · Disposed · Common Stock380$10.83$4,11523,366Aug 30, 2026
1 filed lot
  • Table I · Common Stock: 380 shares at $10.83 · code F · owned after 23,366 ·
MILLER DAVID (JAMES)VP & General CounselExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units · 1 paired event967—Exercise or conversion of derivative security (M)—0Aug 30, 2026
1 filed lot
  • Table II · Restricted Stock Units: 967 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 0 · Paired event: 967 Restricted Stock Units → 967 Common Stock ·
SHEETS JUSTIN DSVP, Enterprise ServicesDisposition to the issuer (D)Table I · Disposed · Common Stock2,576$10.83$27,89870,436Aug 30, 2026
1 filed lot
  • Table I · Common Stock: 2,576 shares at $10.83 · code D · owned after 70,436 ·
SHEETS JUSTIN DSVP, Enterprise ServicesPayment of exercise price or tax liability (F)Table I · Disposed · Common Stock962$10.83$10,41869,474Aug 30, 2026
1 filed lot
  • Table I · Common Stock: 962 shares at $10.83 · code F · owned after 69,474 ·
SHEETS JUSTIN DSVP, Enterprise ServicesExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units · 1 paired event2,576—Exercise or conversion of derivative security (M)—0Aug 30, 2026
1 filed lot
  • Table II · Restricted Stock Units: 2,576 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 0 · Paired event: 2,576 Restricted Stock Units → 2,576 Common Stock ·
SHEETS JUSTIN DSVP, Enterprise ServicesExercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 1 paired event2,576Not disclosedNot disclosed73,012Aug 30, 2026
1 filed lot
  • Table I · Common Stock: 2,576 shares at Not disclosed · code M · owned after 73,012 · Paired event: 2,576 Restricted Stock Units → 2,576 Common Stock ·
Cavanah Kevin SVP Finance & CFODisposition to the issuer (D)Table I · Disposed · Common Stock4,569$10.83$49,48282,390Aug 30, 2026
1 filed lot
  • Table I · Common Stock: 4,569 shares at $10.83 · code D · owned after 82,390 ·
Cavanah Kevin SVP Finance & CFOPayment of exercise price or tax liability (F)Table I · Disposed · Common Stock1,576$10.83$17,06880,814Aug 30, 2026
1 filed lot
  • Table I · Common Stock: 1,576 shares at $10.83 · code F · owned after 80,814 ·
Cavanah Kevin SVP Finance & CFOExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units · 1 paired event4,569—Exercise or conversion of derivative security (M)—0Aug 30, 2026
1 filed lot
  • Table II · Restricted Stock Units: 4,569 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 0 · Paired event: 4,569 Restricted Stock Units → 4,569 Common Stock ·
Cavanah Kevin SVP Finance & CFOExercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 1 paired event4,569Not disclosedNot disclosed86,959Aug 30, 2026
1 filed lot
  • Table I · Common Stock: 4,569 shares at Not disclosed · code M · owned after 86,959 · Paired event: 4,569 Restricted Stock Units → 4,569 Common Stock ·
PAYNE SHAWN PDirector, President & CEOExercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 1 paired event2,817Not disclosedNot disclosed127,871Aug 30, 2026
1 filed lot
  • Table I · Common Stock: 2,817 shares at Not disclosed · code M · owned after 127,871 · Paired event: 2,817 Restricted Stock Units → 2,817 Common Stock ·
PAYNE SHAWN PDirector, President & CEODisposition to the issuer (D)Table I · Disposed · Common Stock2,817$10.83$30,508125,054Aug 30, 2026
1 filed lot
  • Table I · Common Stock: 2,817 shares at $10.83 · code D · owned after 125,054 ·
PAYNE SHAWN PDirector, President & CEOPayment of exercise price or tax liability (F)Table I · Disposed · Common Stock1,108$10.83$12,000123,946Aug 30, 2026
1 filed lot
  • Table I · Common Stock: 1,108 shares at $10.83 · code F · owned after 123,946 ·
PAYNE SHAWN PDirector, President & CEOExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units · 1 paired event2,817—Exercise or conversion of derivative security (M)—0Aug 30, 2026
1 filed lot
  • Table II · Restricted Stock Units: 2,817 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 0 · Paired event: 2,817 Restricted Stock Units → 2,817 Common Stock ·
MILLER DAVID (JAMES)VP & General CounselExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units · 1 paired event2,370—Exercise or conversion of derivative security (M)—2,369Aug 29, 2026
1 filed lot
  • Table II · Restricted Stock Units: 2,370 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 2,369 · Paired event: 2,370 Restricted Stock Units → 2,370 Common Stock ·
MILLER DAVID (JAMES)VP & General CounselExercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 1 paired event2,370Not disclosedNot disclosed27,048Aug 29, 2026
1 filed lot
  • Table I · Common Stock: 2,370 shares at Not disclosed · code M · owned after 27,048 · Paired event: 2,370 Restricted Stock Units → 2,370 Common Stock ·
MILLER DAVID (JAMES)VP & General CounselDisposition to the issuer (D)Table I · Disposed · Common Stock2,370$10.83$25,66724,678Aug 29, 2026
1 filed lot
  • Table I · Common Stock: 2,370 shares at $10.83 · code D · owned after 24,678 ·
MILLER DAVID (JAMES)VP & General CounselPayment of exercise price or tax liability (F)Table I · Disposed · Common Stock932$10.83$10,09423,746Aug 29, 2026
1 filed lot
  • Table I · Common Stock: 932 shares at $10.83 · code F · owned after 23,746 ·
SHEETS JUSTIN DSVP, Enterprise ServicesExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units · 1 paired event3,482—Exercise or conversion of derivative security (M)—3,482Aug 29, 2026
1 filed lot
  • Table II · Restricted Stock Units: 3,482 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 3,482 · Paired event: 3,482 Restricted Stock Units → 3,482 Common Stock ·
SHEETS JUSTIN DSVP, Enterprise ServicesExercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 1 paired event3,482Not disclosedNot disclosed75,218Aug 29, 2026
1 filed lot
  • Table I · Common Stock: 3,482 shares at Not disclosed · code M · owned after 75,218 · Paired event: 3,482 Restricted Stock Units → 3,482 Common Stock ·
SHEETS JUSTIN DSVP, Enterprise ServicesDisposition to the issuer (D)Table I · Disposed · Common Stock3,482$10.83$37,71071,736Aug 29, 2026
1 filed lot
  • Table I · Common Stock: 3,482 shares at $10.83 · code D · owned after 71,736 ·
SHEETS JUSTIN DSVP, Enterprise ServicesPayment of exercise price or tax liability (F)Table I · Disposed · Common Stock1,300$10.83$14,07970,436Aug 29, 2026
1 filed lot
  • Table I · Common Stock: 1,300 shares at $10.83 · code F · owned after 70,436 ·
Cavanah Kevin SVP Finance & CFOExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units · 1 paired event6,176—Exercise or conversion of derivative security (M)—6,175Aug 29, 2026
1 filed lot
  • Table II · Restricted Stock Units: 6,176 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 6,175 · Paired event: 6,176 Restricted Stock Units → 6,176 Common Stock ·
Cavanah Kevin SVP Finance & CFOExercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 1 paired event6,176Not disclosedNot disclosed90,696Aug 29, 2026
1 filed lot
  • Table I · Common Stock: 6,176 shares at Not disclosed · code M · owned after 90,696 · Paired event: 6,176 Restricted Stock Units → 6,176 Common Stock ·
Cavanah Kevin SVP Finance & CFODisposition to the issuer (D)Table I · Disposed · Common Stock6,176$10.83$66,88684,520Aug 29, 2026
1 filed lot
  • Table I · Common Stock: 6,176 shares at $10.83 · code D · owned after 84,520 ·
Cavanah Kevin SVP Finance & CFOPayment of exercise price or tax liability (F)Table I · Disposed · Common Stock2,130$10.83$23,06882,390Aug 29, 2026
1 filed lot
  • Table I · Common Stock: 2,130 shares at $10.83 · code F · owned after 82,390 ·
PAYNE SHAWN PDirector, President & CEOExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units · 1 paired event4,077—Exercise or conversion of derivative security (M)—4,077Aug 29, 2026
1 filed lot
  • Table II · Restricted Stock Units: 4,077 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 4,077 · Paired event: 4,077 Restricted Stock Units → 4,077 Common Stock ·
PAYNE SHAWN PDirector, President & CEOExercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 1 paired event4,077Not disclosedNot disclosed130,735Aug 29, 2026
1 filed lot
  • Table I · Common Stock: 4,077 shares at Not disclosed · code M · owned after 130,735 · Paired event: 4,077 Restricted Stock Units → 4,077 Common Stock ·
PAYNE SHAWN PDirector, President & CEODisposition to the issuer (D)Table I · Disposed · Common Stock4,077$10.83$44,154126,658Aug 29, 2026
1 filed lot
  • Table I · Common Stock: 4,077 shares at $10.83 · code D · owned after 126,658 ·
PAYNE SHAWN PDirector, President & CEOPayment of exercise price or tax liability (F)Table I · Disposed · Common Stock1,604$10.83$17,371125,054Aug 29, 2026
1 filed lot
  • Table I · Common Stock: 1,604 shares at $10.83 · code F · owned after 125,054 ·
MILLER DAVID (JAMES)VP & General CounselExercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 2 paired events3,309Not disclosedNot disclosedSee lot detailAug 27, 2026
2 filed lots
  • Table I · Common Stock: 1,702 shares at Not disclosed · code M · owned after 27,681 · Paired event: 1,702 Restricted Stock Units → 1,702 Common Stock ·
  • Table I · Common Stock: 1,607 shares at Not disclosed · code M · owned after 26,917 · Paired event: 1,607 Restricted Stock Units → 1,607 Common Stock ·
MILLER DAVID (JAMES)VP & General CounselExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units · 2 paired events3,309—Exercise or conversion of derivative security (M)—See lot detailAug 27, 2026
2 filed lots
  • Table II · Restricted Stock Units: 1,702 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 3,404 · Paired event: 1,702 Restricted Stock Units → 1,702 Common Stock ·
  • Table II · Restricted Stock Units: 1,607 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 4,819 · Paired event: 1,607 Restricted Stock Units → 1,607 Common Stock ·
MILLER DAVID (JAMES)VP & General CounselDisposition to the issuer (D)Table I · Disposed · Common Stock3,309$10.91$36,101See lot detailAug 27, 2026
2 filed lots
  • Table I · Common Stock: 1,702 shares at $10.91 · code D · owned after 25,979 ·
  • Table I · Common Stock: 1,607 shares at $10.91 · code D · owned after 25,310 ·
MILLER DAVID (JAMES)VP & General CounselPayment of exercise price or tax liability (F)Table I · Disposed · Common Stock1,301$10.91$14,194See lot detailAug 27, 2026
2 filed lots
  • Table I · Common Stock: 669 shares at $10.91 · code F · owned after 25,310 ·
  • Table I · Common Stock: 632 shares at $10.91 · code F · owned after 24,678 ·
SHEETS JUSTIN DSVP, Enterprise ServicesExercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 2 paired events4,126Not disclosedNot disclosedSee lot detailAug 27, 2026
2 filed lots
  • Table I · Common Stock: 2,429 shares at Not disclosed · code M · owned after 75,705 · Paired event: 2,429 Restricted Stock Units → 2,429 Common Stock ·
  • Table I · Common Stock: 1,697 shares at Not disclosed · code M · owned after 74,066 · Paired event: 1,697 Restricted Stock Units → 1,697 Common Stock ·
SHEETS JUSTIN DSVP, Enterprise ServicesDisposition to the issuer (D)Table I · Disposed · Common Stock4,126$10.91$45,015See lot detailAug 27, 2026
2 filed lots
  • Table I · Common Stock: 2,429 shares at $10.91 · code D · owned after 73,276 ·
  • Table I · Common Stock: 1,697 shares at $10.91 · code D · owned after 72,369 ·
SHEETS JUSTIN DSVP, Enterprise ServicesExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units · 2 paired events4,126—Exercise or conversion of derivative security (M)—See lot detailAug 27, 2026
2 filed lots
  • Table II · Restricted Stock Units: 2,429 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 4,857 · Paired event: 2,429 Restricted Stock Units → 2,429 Common Stock ·
  • Table II · Restricted Stock Units: 1,697 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 5,090 · Paired event: 1,697 Restricted Stock Units → 1,697 Common Stock ·
SHEETS JUSTIN DSVP, Enterprise ServicesPayment of exercise price or tax liability (F)Table I · Disposed · Common Stock1,540$10.91$16,801See lot detailAug 27, 2026
2 filed lots
  • Table I · Common Stock: 907 shares at $10.91 · code F · owned after 72,369 ·
  • Table I · Common Stock: 633 shares at $10.91 · code F · owned after 71,736 ·
Cavanah Kevin SVP Finance & CFOExercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 2 paired events7,316Not disclosedNot disclosedSee lot detailAug 27, 2026
2 filed lots
  • Table I · Common Stock: 4,307 shares at Not disclosed · code M · owned after 91,420 · Paired event: 4,307 Restricted Stock Units → 4,307 Common Stock ·
  • Table I · Common Stock: 3,009 shares at Not disclosed · code M · owned after 88,637 · Paired event: 3,009 Restricted Stock Units → 3,009 Common Stock ·
Cavanah Kevin SVP Finance & CFODisposition to the issuer (D)Table I · Disposed · Common Stock7,316$10.91$79,818See lot detailAug 27, 2026
2 filed lots
  • Table I · Common Stock: 4,307 shares at $10.91 · code D · owned after 87,113 ·
  • Table I · Common Stock: 3,009 shares at $10.91 · code D · owned after 85,628 ·
Cavanah Kevin SVP Finance & CFOExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units · 2 paired events7,316—Exercise or conversion of derivative security (M)—See lot detailAug 27, 2026
2 filed lots
  • Table II · Restricted Stock Units: 4,307 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 8,614 · Paired event: 4,307 Restricted Stock Units → 4,307 Common Stock ·
  • Table II · Restricted Stock Units: 3,009 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 9,026 · Paired event: 3,009 Restricted Stock Units → 3,009 Common Stock ·
Cavanah Kevin SVP Finance & CFOPayment of exercise price or tax liability (F)Table I · Disposed · Common Stock2,593$10.91$28,290See lot detailAug 27, 2026
2 filed lots
  • Table I · Common Stock: 1,485 shares at $10.91 · code F · owned after 85,628 ·
  • Table I · Common Stock: 1,108 shares at $10.91 · code F · owned after 84,520 ·
PAYNE SHAWN PDirector, President & CEOExercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 2 paired events6,947Not disclosedNot disclosedSee lot detailAug 27, 2026
2 filed lots
  • Table I · Common Stock: 2,843 shares at Not disclosed · code M · owned after 135,459 · Paired event: 2,843 Restricted Stock Units → 2,843 Common Stock ·
  • Table I · Common Stock: 4,104 shares at Not disclosed · code M · owned after 135,602 · Paired event: 4,104 Restricted Stock Units → 4,104 Common Stock ·
PAYNE SHAWN PDirector, President & CEODisposition to the issuer (D)Table I · Disposed · Common Stock6,947$10.91$75,792See lot detailAug 27, 2026
2 filed lots
  • Table I · Common Stock: 2,843 shares at $10.91 · code D · owned after 132,616 ·
  • Table I · Common Stock: 4,104 shares at $10.91 · code D · owned after 131,498 ·
PAYNE SHAWN PDirector, President & CEOExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units · 2 paired events6,947—Exercise or conversion of derivative security (M)—See lot detailAug 27, 2026
2 filed lots
  • Table II · Restricted Stock Units: 2,843 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 5,686 · Paired event: 2,843 Restricted Stock Units → 2,843 Common Stock ·
  • Table II · Restricted Stock Units: 4,104 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 12,312 · Paired event: 4,104 Restricted Stock Units → 4,104 Common Stock ·
PAYNE SHAWN PDirector, President & CEOPayment of exercise price or tax liability (F)Table I · Disposed · Common Stock5,958$10.91$65,002See lot detailAug 27, 2026
3 filed lots
  • Table I · Common Stock: 1,118 shares at $10.91 · code F · owned after 131,498 ·
  • Table I · Common Stock: 1,614 shares at $10.91 · code F · owned after 129,884 ·
  • Table I · Common Stock: 3,226 shares at $10.91 · code F · owned after 126,658 ·
MILLER DAVID (JAMES)VP & General CounselGrant, award, or other acquisition (A)Table I · Acquired · Common Stock5,432—Grant, award, or other acquisition (A)—25,979Aug 25, 2026
1 filed lot
  • Table I · Common Stock: 5,432 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 25,979 ·
MILLER DAVID (JAMES)VP & General CounselGrant, award, or other acquisition (A)Table II · Acquired · Restricted Stock Units5,432—Grant, award, or other acquisition (A)—5,432Aug 25, 2026
1 filed lot
  • Table II · Restricted Stock Units: 5,432 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 5,432 ·
SHEETS JUSTIN DSVP, Enterprise ServicesGrant, award, or other acquisition (A)Table I · Acquired · Common Stock8,939—Grant, award, or other acquisition (A)—73,276Aug 25, 2026
1 filed lot
  • Table I · Common Stock: 8,939 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 73,276 ·
SHEETS JUSTIN DSVP, Enterprise ServicesGrant, award, or other acquisition (A)Table II · Acquired · Restricted Stock Units8,939—Grant, award, or other acquisition (A)—8,939Aug 25, 2026
1 filed lot
  • Table II · Restricted Stock Units: 8,939 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 8,939 ·
PAYNE SHAWN PDirector, President & CEOGrant, award, or other acquisition (A)Table I · Acquired · Common Stock30,437—Grant, award, or other acquisition (A)—132,616Aug 25, 2026
1 filed lot
  • Table I · Common Stock: 30,437 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 132,616 ·
PAYNE SHAWN PDirector, President & CEOGrant, award, or other acquisition (A)Table II · Acquired · Restricted Stock Units30,437—Grant, award, or other acquisition (A)—30,437Aug 25, 2026
1 filed lot
  • Table II · Restricted Stock Units: 30,437 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 30,437 ·

Source-event as of . Retrieved .

Track record

How Matrix Service Company’s moat rated in each of the years we can reconstruct from its filings — scored only on what was knowable at the time — and what its price and returns did afterward. The score never saw a price; the two are joined only in hindsight, for education, not as a signal.

Point-in-time scores 2011–2025, one methodology version · reconstructed from filings on file each Dec 31 — never with hindsight

Point-in-time Moat Score (dot colored by tier)Indexed price (total-return (dividends reinvested))Rated Wide-moat that year

How to read this: each dot is what the engine would have scored MTRX on that December 31; the line below is its total-return price path (dividends reinvested) in the years since.

0406080100WideNarrowShallowNo moatPoint-in-time Moat Score100200Indexed price · log scale (2012 = 100)201120142017202020232026

Two tracks, one timeline: the score has its own 0–100 scale (top), the price its own 100-based scale (bottom) — never a shared axis. The price path is a total-return (dividends reinvested) index built from the same data the forward returns use; gaps in the score line are years with no reconstructed rating (see the table for why). The Table view carries every value.

What followed, in the years it rated Wide

In the reconstructed history shown, MTRX did not rate Wide-moat in any year, so there is no wide-moat track record to report. That absence is itself the honest answer — we don’t manufacture a comparison where the rating never earned one.

Industrials context

#428 of 448 scored Industrials companies, ranked by Moat Score.

Nearest peers by Moat Score

  1. #426FCUV FOCUS UNIVERSAL INC.19.8 out of 100, No moatNo moat
  2. #427CVLG COVENANT LOGISTICS GROUP, INC.19.5 out of 100, No moatNo moat
  3. #429OESX ORION ENERGY SYSTEMS, INC.19.1 out of 100, No moatNo moat
  4. #430SHIM Shimmick Corporation17.9 out of 100, No moatNo moat

Compare MTRX with its nearest peers →All Industrials companies on the Index →

Common questions about MTRX

Does Matrix Service Company have an economic moat?
Based on its FY2026 SEC filings, the Moat Index scores Matrix Service Company (MTRX) 19.2 out of 100 — below the Shallow-moat bar, so no moat. The five questions behind that score begin at 20% each; if exactly one genuinely lacks data, the other four weights are renormalized and disclosed. revenue and EPS trend 51, pricing power 0, returns on capital 0, balance-sheet safety 28, capital allocation 18.
How has MTRX's Moat Score changed over time?
The record logs 27 readings since Jul 17, 2026; the latest reads 19.2 out of 100 (no moat). No tier changes on record yet. (Methodology or normalizer upgrades on Jul 20, 2026, Jul 23, 2026, Jul 26, 2026 re-based the score; readings across versions aren't compared.) The history is append-only — readings are only ever added, never rewritten.