MTLS vs SSYS: Which Is the Better Buy in 2026?
Last updated October 2026
Short answer
SSYS is the larger of the two ($607.85M market cap): the incumbent the market prices for continued execution (37.01x forward earnings, beta 1.99). MTLS is the smaller challenger ($460.57M), cheaper on forward earnings (31.07x): more room to run, but more to prove. The real question is which set of drivers you believe, and whether owning one (or both) leaves you over-concentrated.
MTLS vs SSYS: the tie-breaker metrics
Same yardstick, side by side (as of October 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.
| Metric | MTLS | SSYS | What it tells you |
|---|---|---|---|
| Market cap | $460.57M | $607.85M | Size. The larger name is the incumbent; the smaller has more room to grow and more to prove. |
| Forward P/E | 31.07 | 37.01 | Valuation on next year's expected earnings, the same yardstick for both. Lower is cheaper for that growth; higher means the market is paying up. |
| Beta | 1.33 | 1.99 | Volatility vs the market. Above 1 swings harder than the index; below 1 is steadier. Higher beta means bigger drawdowns to hold through. |
| Price vs 52-week range | 80% of range | 2% of range | Where today's price sits between the 52-week low and high. Near the high is momentum with less margin of safety; near the low is out of favor or a discount, depending on why. |
| Price / book | 1.63 | 0.74 | How much you pay over book value. Very high can signal an asset-light, high-return business or a rich price. |
Reading it: MTLS is the cheaper of the two on forward earnings, but cheaper is not the same as better. Pair the valuation with growth (how far the forward P/E sits below the trailing P/E) and risk (beta) before you decide.
Before you buy: how MTLS and SSYS affect your concentration
The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. MTLS and SSYS share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.
This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined MTLS and SSYS exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.
What does Materialise (MTLS) do?
Materialise is a Belgian additive manufacturing company that combines 3D printing software, a large printing service bureau, and a medical device business making patient-specific surgical guides and implants. It reports in euros through three segments (Medical, Manufacturing and Software) and has about 2,556 employees.
What does Stratasys (SSYS) do?
Stratasys designs and sells industrial 3D printers and the materials that run on them, focused on polymer additive manufacturing for prototyping, tooling and end-use parts. It is listed on Nasdaq, employs about 1,760 people, and sells into aerospace, defense, automotive, healthcare and dental customers.
MTLS vs SSYS: how do they differ?
Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.
- MTLS drivers: Medical is the differentiated business; Software licensed across the industry.
- SSYS drivers: Shift from prototyping toward production parts; Recurring materials revenue.
Which fits which kind of investor
A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: The general service-bureau business is competitive and price-sensitive, and printing capacity is not scarce. For SSYS, the additive manufacturing industry has repeatedly grown more slowly than forecast, and Stratasys has faced years of flat or declining revenue as a result, from about $651 million in 2022 to about $551 million in 2025.
MTLS or SSYS: which should you pick?
Growth-minded investors who believe the theme has years to run tend to accept the richer multiple for more upside; value-minded investors lean toward the cheaper forward earnings and steadier profile. Pick MTLS if you believe its drivers more; SSYS if you believe its. Many investors hold both, but since they share themes, that is a concentrated bet, not diversification. Decide deliberately and check overlap. For the full detail, see the MTLS and SSYS guides.
MTLS vs SSYS: the full fundamentals
MTLS. Materialise trades at about 1.7x trailing sales and roughly 29x trailing earnings, with about $134 million of cash against about $60 million of debt. The multiple has expanded with the share price in 2026, while consensus expects only modest earnings per share this year and next, so the valuation leans on medical and aerospace growth continuing. Reported figures are converted from euros and move with the exchange rate.
SSYS. At about $7 a share in October 2026 Stratasys is valued near 1.1 times sales and below book value, with roughly a third of the market cap covered by net cash. No trailing P/E exists because GAAP earnings are negative, and the forward multiple near 38 rests on a thin adjusted EPS estimate of about $0.19 for 2027. Q3 2026 results on November 12 will show whether the expected return to revenue growth is arriving; the mean target of three covering analysts is about $12.
Headline figures (approximate, October 2026): MTLS shows revenue (ttm) ~$273 million, revenue growth (q2 2026, yoy) ~+8%, net income (ttm) ~$13 million, gross margin ~57%; SSYS shows revenue (ttm) ~$547 million, revenue growth (q2 2026, yoy) ~flat (-0.3%), gross / operating margin ~42% / ~-9%, net income (ttm) ~-$115 million.
The bottom line: MTLS vs SSYS
MTLS and SSYS are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined MTLS and SSYS exposure against your real portfolio. It is not an investment adviser.
Wondering how MTLS or SSYS fits the portfolio you already own? Walnut is an AI investing app that connects your brokerage read-only and answers questions like that about your actual holdings: overlap, concentration, and how each position tracks the S&P 500. Compare the best AI portfolio analyzers or see the best AI investing apps in 2026.
Investing in Materialise with AI
Connect the broker you already use and ask Walnut's AI how MTLS fits what you actually hold: whether you own it already through a fund, what it would do to your concentration, and how it has tracked the S&P 500. Read-only by default, and you approve anything before it reaches your broker.
FAQ
What is the difference between MTLS and SSYS?
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Materialise is a Belgian additive manufacturing company that combines 3D printing software, a large printing service bureau, and a medical device business making patient-specific surgical guides and implants. Stratasys designs and sells industrial 3D printers and the materials that run on them, focused on polymer additive manufacturing for prototyping, tooling and end-use parts. They show up together because they share investment themes, but they are different businesses, so the better fit depends on which thesis you are expressing.
Is MTLS or SSYS the better stock?
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Neither is universally better. SSYS is the larger incumbent; MTLS is the smaller challenger and looks cheaper on forward earnings. Walnut is informational, not investment advice. Compare what each does, the tie-breaker metrics above, and the risks, then decide which fits your thesis and what you already own.
Which is cheaper, MTLS or SSYS?
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On forward P/E (as of October 2026), MTLS trades at 31.07x and SSYS at 37.01x, so MTLS is the cheaper of the two on next year's expected earnings. A lower multiple is not automatically the better buy: a richer valuation can be justified by faster growth, and a lower one can reflect real risk. Weigh the multiple against how fast each business is compounding.
Should you own both MTLS and SSYS?
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Because they share themes, owning both concentrates you in that theme. That can be intentional (a focused bet) or accidental (less diversification than it looks). Walnut can show your combined exposure across both, and whether adding either over-concentrates you, before you buy.
What are the risks of MTLS vs SSYS?
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MTLS: The general service-bureau business is competitive and price-sensitive, and printing capacity is not scarce. Medical revenue is regulated, so approvals and reimbursement decisions affect it directly. As a Belgian company reporting in euros, results are exposed to currency movements against the dollar. The additive industry overall has grown more slowly than forecast for a decade. Operating margins are thin (under 1% on a trailing GAAP basis), so small revenue misses swing earnings, and after a 48% year-to-date rise the shares trade near the analyst mean target of about $8.82 with only three analysts covering the stock. Leadership turnover in the medical segment (its head left in September 2026) is a further execution watch point. SSYS: The additive manufacturing industry has repeatedly grown more slowly than forecast, and Stratasys has faced years of flat or declining revenue as a result, from about $651 million in 2022 to about $551 million in 2025. Customer capital budgets for printers are discretionary and get deferred in a downturn. The company still loses money on a GAAP basis (a trailing net loss of about $115 million and an operating margin near -9%), so a stalled recovery would eat into the cash balance over time. Competition comes from both low-cost entrants and from larger industrial companies, and several rival technologies address the same applications. The company has a history of restructuring and of merger processes that did not complete, and the share price, near a 52-week low in October 2026, shows how little the market is currently willing to pay for a turnaround.
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Walnut is informational, not investment advice. This page is descriptive and not a recommendation to buy or sell MTLS or SSYS; figures are approximate and dated (as of October 2026). Verify current data before investing.