A Business at a Glance
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Matson, Inc.
MATX
$6.8B
Mkt Cap
$210.57
-1.41%
Matson, Inc. (MATX) has a current P/E ratio of 15.2, compared to its historical median P/E of 10.5. The stock is currently considered Fair based on its historical valuation range.
Matson, Inc. (MATX) has a 5-year average return on invested capital (ROIC) of 27.0%. This indicates strong capital allocation and a potential competitive advantage.
Matson, Inc. (MATX) has a market capitalization of $6.4B. It is classified as a mid-cap stock.
Yes, Matson, Inc. (MATX) pays a dividend with a trailing twelve-month yield of 0.70%. The company also returns capital through share buybacks, with a buyback yield of 4.54%.
Based on historical P/E analysis, Matson, Inc. (MATX) appears fair. The current P/E of 15.2 is 45% above its historical median of 10.5. The estimated fair value CAGR (P/E method) is 28.6%.
Matson, Inc. (MATX) operates in the Water Transportation industry, within the Industrials sector.
Matson, Inc. (MATX) reported annual revenue of $3.3 billion in its most recent fiscal year, based on SEC EDGAR filings.
A.COMPANY OVERVIEW Matson, Inc., a holding company incorporated in the State of Hawaii, and its subsidiaries (“Matson” or the “Company”), is a leading provider of ocean transportation and logistics services. The Company consists of two segments, Ocean Transportation and Logistics. Ocean Transportation: Matson’s Ocean Transportation business is conducted through Matson Navigation Company, Inc. (“MatNav”), a wholly-owned subsidiary of Matson, Inc. Founded in 1882, MatNav provides a vital lifeline of ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska and Guam, and to other island economies in Micronesia. MatNav also operates premium, expedited services from China to Long Beach, California, which includes cargo from other Asia origins, provides services to Okinawa, Japan and various islands in the South Pacific, and operates an international export service from Alaska to Asia.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 3.3B | 3.3B | 3.4B | 3.1B | 4.3B | 3.9B |
| Net Income | 429M | 445M | 476M | 297M | 1.1B | 927M |
| EPS | $13.88 | $13.81 | $13.93 | $8.32 | $27.07 | $21.47 |
| Free Cash Flow | 200M | 154M | 458M | 262M | 1.1B | 969M |
| ROIC | 13.4% | 14.3% | 15.8% | 10.2% | 45.4% | 49.3% |
| Gross Margin | - | 28.7% | 29.5% | 25.1% | 40.7% | 40.1% |
| Debt/Equity | 0.14 | 0.14 | 0.16 | 0.20 | 0.25 | 0.41 |
| Dividends/Share | $1.47 | $1.40 | $1.32 | $1.26 | $1.22 | $1.06 |
| Operating Income | 479M | 500M | 551M | 343M | 1.4B | 1.2B |
| Operating Margin | 14.4% | 14.9% | 16.1% | 11.1% | 31.2% | 30.3% |
| ROE | 15.7% | 16.4% | 18.9% | 12.6% | 53.7% | 70.6% |
| Shares Outstanding | 30M | 32M | 34M | 36M | 39M | 43M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 1.7B | 1.9B | 1.9B | 2.0B | 2.2B | 2.2B | 2.4B | 3.9B | 4.3B | 3.1B | 3.4B | 3.3B | 3.3B |
| Gross Margin | N/A | 0.6% | 1.8% | 4.1% | 22.4% | 21.3% | 27.2% | 40.1% | 40.7% | 25.1% | 29.5% | 28.7% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 147M | 195M | 183M | 207M | 221M | 217M | 225M | 237M | 261M | 283M | 304M | 294M | 296M |
| EBIT | 140M | 196M | 157M | 147M | 164M | 129M | 280M | 1.2B | 1.4B | 343M | 551M | 500M | 479M |
| Op. Margin | 8.2% | 10.4% | 8.1% | 7.2% | 7.4% | 5.9% | 11.8% | 30.3% | 31.2% | 11.1% | 16.1% | 14.9% | 14.4% |
| Net Income | 71M | 103M | 81M | 231M | 109M | 83M | 193M | 927M | 1.1B | 297M | 476M | 445M | 429M |
| Net Margin | 4.1% | 5.5% | 4.2% | 11.3% | 4.9% | 3.8% | 8.1% | 23.6% | 24.5% | 9.6% | 13.9% | 13.3% | 12.9% |
| Non-Recurring | 1.5M | -1.2M | -900K | -3.0M | 1.9M | 1.4M | -2.8M | 800K | 1.5M | -600K | 2.3M | 4.4M | 4.4M |
| Returns on Capital | |||||||||||||
| ROIC | 17.7% | 18.1% | 9.4% | 10.8% | 7.7% | 5.8% | 11.8% | 49.3% | 45.4% | 10.2% | 15.8% | 14.3% | 13.4% |
| ROE | 20.2% | 25.3% | 17.2% | 39.4% | 15.2% | 10.6% | 21.9% | 70.6% | 53.7% | 12.6% | 18.9% | 16.4% | 15.7% |
| ROA | 5.3% | 6.7% | 4.4% | 10.8% | 4.7% | 3.1% | 6.7% | 28.1% | 26.5% | 6.9% | 10.7% | 9.6% | 9.4% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 166M | 245M | 158M | 225M | 305M | 249M | 430M | 984M | 1.3B | 510M | 768M | 547M | 552M |
| Free Cash Flow | 138M | 178M | -22M | -82M | -34M | 30M | 342M | 969M | 1.1B | 262M | 458M | 154M | 200M |
| Owner Earnings | 87M | 150M | 50M | 113M | 199M | 137M | 296M | 837M | 1.1B | 349M | 593M | 364M | -996M |
| CapEx | 28M | 68M | 179M | 307M | 339M | 219M | 88M | 15M | 209M | 248M | 310M | 393M | 353M |
| Maint. CapEx | 70M | 83M | 97M | 101M | 94M | 100M | 115M | 128M | 135M | 138M | 148M | 161M | 1.5B |
| Growth CapEx | 0 | 0 | 82M | 206M | 244M | 119M | 0 | 0 | 74M | 110M | 162M | 233M | 0 |
| D&A | 70M | 83M | 97M | 101M | 94M | 100M | 115M | 128M | 135M | 138M | 148M | 161M | 1.5B |
| CapEx/OCF | 16.8% | 27.6% | 113.7% | 136.5% | 111.0% | 3.4% | 5.7% | 0.7% | 0.4% | 2.1% | 1.0% | 0.4% | 63.8% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 29M | 31M | 32M | 34M | 35M | 37M | 39M | 46M | 48M | 45M | 45M | 45M | 45M |
| Dividend Yield | 3.1% | 2.0% | 2.4% | 3.0% | 2.7% | 2.6% | 2.5% | 1.6% | 1.6% | 1.7% | 1.1% | 1.2% | 0.7% |
| Share Buybacks | 0 | 4.9M | 38M | 19M | 100K | 0 | 0 | 198M | 397M | 155M | 199M | 303M | 289M |
| Buyback Yield | N/A | 0.3% | 2.9% | 1.7% | 0.0% | N/A | N/A | 5.6% | 16.7% | 4.0% | 4.3% | 7.5% | 4.5% |
| Stock-Based Comp | 8.7M | 12M | 11M | 11M | 12M | 11M | 19M | 19M | 18M | 24M | 27M | 23M | 22M |
| Debt Repayment | 11M | 21M | 21M | 30M | 31M | 42M | 217M | 59M | 112M | 77M | 40M | 40M | 40M |
| Balance Sheet | |||||||||||||
| Net Debt | 86M | 404M | 725M | 837M | 879M | 986M | 790M | 397M | 332M | 335M | 163M | 250M | 282M |
| Cash & Equiv. | 293M | 26M | 14M | 20M | 20M | 21M | 14M | 282M | 250M | 134M | 267M | 142M | 100M |
| Long-Term Debt | 352M | 408M | 707M | 826M | 814M | 910M | 686M | 550M | 428M | 389M | 351M | 312M | 302M |
| Debt/Equity | 1.04 | 0.95 | 1.49 | 1.27 | 1.19 | 1.25 | 0.84 | 0.41 | 0.25 | 0.20 | 0.16 | 0.14 | 0.14 |
| Interest Coverage | 8.1 | 10.6 | 6.5 | 6.1 | 8.8 | 5.7 | 10.2 | 52.5 | 75.2 | 28.1 | 73.5 | 73.5 | 73.5 |
| Equity | 364M | 451M | 495M | 677M | 755M | 806M | 961M | 1.7B | 2.3B | 2.4B | 2.7B | 2.8B | 2.7B |
| Total Assets | 1.4B | 1.7B | 2.0B | 2.3B | 2.4B | 2.8B | 2.9B | 3.7B | 4.3B | 4.3B | 4.6B | 4.6B | 4.6B |
| Total Liabilities | 1.0B | 1.2B | 1.5B | 1.6B | 1.7B | 2.0B | 1.9B | 2.0B | 2.0B | 1.9B | 1.9B | 1.9B | 111M |
| Intangibles | 2.5M | 139M | 237M | 225M | 214M | 203M | 192M | 181M | 175M | 176M | 159M | 147M | 144M |
| Retained Earnings | 110M | 177M | 197M | 381M | 460M | 504M | 658M | 1.4B | 2.0B | 2.1B | 2.3B | 2.4B | 2.4B |
| Working Capital | 296M | -20M | -3.4M | -20M | -52M | -147M | -206M | 92M | 178M | 40M | 49M | -56M | -94M |
| Current Assets | 520M | 278M | 274M | 266M | 318M | 290M | 306M | 705M | 760M | 602M | 610M | 472M | 436M |
| Current Liabilities | 224M | 298M | 278M | 286M | 371M | 437M | 511M | 612M | 582M | 562M | 560M | 527M | 530M |
| Per Share Data | |||||||||||||
| EPS | 1.63 | 2.34 | 1.87 | 5.35 | 2.53 | 1.91 | 4.44 | 21.47 | 27.07 | 8.32 | 13.93 | 13.81 | 13.88 |
| Owner EPS | 2.01 | 3.40 | 1.14 | 2.61 | 4.61 | 3.17 | 6.81 | 19.37 | 28.46 | 9.77 | 17.34 | 11.30 | -32.90 |
| Book Value | 8.38 | 10.24 | 11.37 | 15.68 | 17.53 | 18.61 | 22.10 | 38.60 | 58.44 | 67.23 | 77.54 | 85.66 | 90.21 |
| Cash Flow/Share | 3.81 | 5.57 | 3.63 | 5.21 | 7.08 | 5.75 | 9.88 | 22.78 | 32.36 | 14.30 | 22.45 | 16.99 | 64.59 |
| Dividends/Share | 0.66 | 0.70 | 0.74 | 0.78 | 0.82 | 0.86 | 0.90 | 1.06 | 1.22 | 1.26 | 1.32 | 1.40 | 1.47 |
| Shares Out. | 43.4M | 44.0M | 43.5M | 43.2M | 43.1M | 43.3M | 43.5M | 43.2M | 39.3M | 35.7M | 34.2M | 32.2M | 30.3M |
| Valuation | |||||||||||||
| P/E Ratio | 17.5 | 15.5 | 16.1 | 4.9 | 11.3 | 19.6 | 11.9 | 3.8 | 2.2 | 12.9 | 9.7 | 9.0 | 15.2 |
| P/FCF | 9.0 | 9.0 | N/A | N/A | N/A | 54.5 | 6.7 | 3.6 | 2.2 | 14.6 | 10.1 | 26.1 | 31.9 |
| EV/EBIT | 9.5 | 10.2 | 13.0 | 13.4 | 12.9 | 20.0 | 11.0 | 3.1 | 1.8 | 11.8 | 8.2 | 8.3 | 13.9 |
| Price/Book | 3.4 | 3.5 | 2.6 | 1.7 | 1.6 | 2.0 | 2.4 | 2.1 | 1.0 | 1.6 | 1.7 | 1.5 | 2.3 |
| Price/Sales | 0.5 | 0.8 | 0.7 | 0.5 | 0.6 | 0.7 | 0.7 | 0.8 | 0.7 | 0.9 | 1.2 | 1.1 | 1.9 |
| FCF Yield | 11.1% | 11.2% | -1.7% | -7.2% | -2.7% | 1.8% | 14.9% | 27.4% | 44.8% | 6.8% | 9.9% | 3.8% | 3.1% |
| Market Cap | 1.2B | 1.6B | 1.3B | 1.1B | 1.2B | 1.6B | 2.3B | 3.5B | 2.4B | 3.8B | 4.6B | 4.0B | 6.4B |
| Avg. Price | 21.56 | 34.18 | 31.39 | 26.01 | 30.47 | 33.39 | 36.00 | 68.47 | 78.56 | 76.16 | 124.21 | 113.94 | 210.57 |
| Year-End Price | 28.57 | 36.16 | 30.06 | 26.36 | 28.68 | 37.38 | 52.87 | 81.85 | 60.40 | 107.34 | 134.54 | 124.75 | 210.57 |
Matson, Inc. passes 6 of 9 quality checks, suggesting mixed fundamentals.
Matson, Inc. trades at 15.2x trailing earnings, compared to its 15-year median P/E of 10.5x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 11.8x vs a median of 10.1x. The company's 5-year average ROIC is 27.0% with a gross margin of 32.8%. Total shareholder yield (dividends + buybacks) is 5.2%. At current prices, the estimated annualized return to fair value is +28.7%.
Matson, Inc. (MATX) has a net profit margin of 13.3%. This is a healthy margin.
Matson, Inc. (MATX) generated $154 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Matson, Inc. (MATX) has a debt-to-equity ratio of 0.14. This indicates a conservatively financed balance sheet.
Matson, Inc. (MATX) reported earnings per share (EPS) of $13.81 in its most recent fiscal year.
Matson, Inc. (MATX) has a return on equity (ROE) of 16.4%. This indicates the company generates strong returns for shareholders.
Matson, Inc. (MATX) has a 5-year average gross margin of 32.8%. This indicates decent pricing power.
The Ledger Terminal provides 18 years of financial data for Matson, Inc. (MATX), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Matson, Inc. (MATX) has a book value per share of $85.66, based on its most recent annual SEC filing.