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Matson, Inc. (MATX) stock

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NYSE: MATX NYSE Marine Transportation Next results ~November 4, 2026

B Fundamentals grade

Matson, Inc. is a US-listed company in the marine transportation industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: our cash-flow value ($122.28) is 0.29x the median of our other models ($428.97); a gap this wide usually means the cash flow is temporarily depressed (heavy investment, a one-off payment).

Price vs value

Under review: our cash-flow value ($122.28) is 0.29x the median of our other models ($428.97); a gap this wide usually means the cash flow is temporarily depressed (heavy investment, a one-off payment). We'll show the comparison once resolved.

Matson, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 15 selling0 purchases and 60 sales by directors and officers, last 12 monthsInsider trades
  • Funds202 adding, 167 cuttingOf 56 active managers that changed their stake, 24 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Matson files

Where Matson stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $3.46bn, down 0.2% on a year earlier, a smaller fall than the 4.6% decline a quarter earlier. That puts it 1210 of 1447 for growth among all the companies we cover. Free-cash-flow margin fell to 6.0% from 13.7% a year earlier. The diluted share count is down 7.1% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 4 of our 6 financial-health checks.

Our model value for Matson is under review, so past values are not shown until it is resolved.

Source: 10-Q filed August 4, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 4, 2026 (estimated)

Matson, Inc.'s trailing-twelve-month revenue fell 0.2% year on year, with a free-cash-flow margin of 6.0%. Where it stands out: change in share count of -7.1% ranks 2 of 39 marine transportation companies we cover.

Our discounted-cash-flow model values the business at ~$120 per share in the base case (~$89–$170 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Revenue growth accelerating: TTM revenue growth rose to -0.2% (+4.5pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Shrinking share count. Diluted shares fell 7.1% in a year, so each share owns more of the business.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 8.9% over 90 days.

Things to watch

  • Revenue shrinking. Revenue fell 0.2% over the last 12 months.
  • Insiders selling. 15 insiders sold $28M of stock over the past 365 days and none bought (44% under pre-set trading plans).
  • Weak cash conversion. Free cash flow was 43% of net income over the last 12 months.
  • Short interest rising. Shares sold short rose 38% in a month to 7.5% of tradable shares.

Latest results: FY2026 Q2

Filed August 4, 2026
Earnings per share
$4.27 against an average estimate of $3.82: beat by 11.8%
Revenue
$969m, up 16.7% on a year earlier
Share reaction
+5.4% in the first session after the results on August 3, 2026, against +3.3% for the S&P 500
Guidance given
ocean Transportation operating income growth 45% (third quarter 2026); consolidated operating income growth 45% (third quarter 2026)
Next report
November 4, 2026; average EPS estimate $6.27

Matson's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-1.3%
  • 1 week-3.4%
  • 1 month-4.4%
  • This year+80.0%
  • 1 year+121.0%
  • 5 years+170.1%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$3.5B
Operating margin
15.2%
Net margin
13.4%
EPS (TTM, diluted)
$14.95

Growth

Revenue growth
−0.2%
Change in growth rate
+4.5 pts
Share count change
−7.1%

Cash

Free cash flow (TTM)
$200M
FCF margin
6.0%
Stock pay % of revenue
0.7%

Earnings

Last results
August 3, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Insider trade
  2. Insider trade
  3. Insider trade
  4. Insider trade
  5. Results
  6. Guidance
  7. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Matson, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: held for review: our cash-flow value ($122.28) is 0.29x the median of our other models ($428.97); a gap this wide usually means the cash flow is temporarily depressed (heavy investment, a one-off payment).

Our value per share comes from a discounted-cash-flow model of Matson, Inc.'s free cash flow after stock-based pay ( $235M, FY2026 Q1 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Matson, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9%: the 10-year Treasury yield (4.9%) plus a beta of 0.9 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$120 ~$89–$170 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$150 ~$120–$220 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$790 ~$560–$1100 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$430 ~$370–$510 Included
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Matson, Inc. with Marine Transportation in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$35.28$29.87$25.84$28.37$36.97$52.88$84.79$59.76$106.48$132.36$122.81$221.04
Market value$1.6bn$1.3bn$1.1bn$1.2bn$1.6bn$2.3bn$3.7bn$2.3bn$3.8bn$4.5bn$4.0bn$6.9bn
+ Net debt (− = net cash)$404m$725m$837m$879m$986m$805m$412m$345m$346m$174m$259m$262m
Enterprise value$2.0bn$2.0bn$2.0bn$2.1bn$2.6bn$3.1bn$4.1bn$2.7bn$4.1bn$4.7bn$4.2bn$7.1bn
Multiples
Price / sales 0.8x0.7x0.5x0.5x0.7x1.0x0.9x0.5x1.2x1.3x1.2x2.0x
Price / earnings 15.1x16.0x4.8x11.2x19.4x11.9x3.9x2.2x12.8x9.5x8.9x14.8x
Price / free cash flow 8.7x——————2.2x14.5x9.9x25.7x—
EV / EBITDA 7.0x8.0x7.9x8.1x11.3x7.9x3.1x1.8x8.9x6.8x6.5x—

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

69 /100

Moderate moat

How hard Matson's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 16 / 20

    Net income has been a median 10.1% of total assets over 10 years.

  • Durability 10 / 20

    Operating margin has been a median 13.4%; its worst year was 6.1%.

  • Cash conversion 13 / 20

    Free cash flow was positive in 9 of 9 years, at a median 6.0% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 29.1% over five years; stock-based pay has been a median 0.6% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (74 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 4, 2026, after the close. Analysts expect revenue of $1.1bn and EPS of $6.27 (range $6.09 to $6.50) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $16.46 +19% $3.7bn +11%
Next $16.81 +2% $3.7bn +1%

Next year's EPS estimate has moved +8.9% in 90 days, across 4 analysts.

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $3.82 $4.27 +11.8%
Mar 2026 $1.61 $1.85 +15.1%
Dec 2025 $3.69 $4.60 +24.8%
Sept 2025 $3.25 $4.24 +30.3%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 3, 2026
  • depreciation and amortization expense full year 2026 about $205m Raised
    “For full year 2026, the Company expects depreciation and amortization expense to be approximately $205 million, inclusive of dry-docking amortization of approximately $35 million.” source
  • dry-docking amortization full year 2026 about $35m Raised
    “For full year 2026, the Company expects depreciation and amortization expense to be approximately $205 million, inclusive of dry-docking amortization of approximately $35 million.” source
  • interest income full year 2026 about $18m Raised
    “The Company expects interest income for the full year 2026 to be approximately $18 million.” source
  • interest expense, net full year 2026 about $6m Raised
    “The Company expects interest expense, net for the full year 2026 to be approximately $6 million.” source
  • other income (expense), net full year 2026 about $7m Raised
    “The Company expects full year 2026 other income (expense), net to be approximately $7 million in income, which is attributable to the amortization of certain components of net periodic benefit costs or gains related to the Company's pension and post-retirement plans.” source
  • effective tax rate full year 2026 about 21% Raised
    “For the full year 2026, the Company expects its effective tax rate to be approximately 21.0 percent.” source
Show 5 more items
  • capital expenditure payments, including maintenance capital expenditures full year 2026 $150m to $170m Raised
    “For the full year 2026, the Company expects to make capital expenditure payments, including maintenance capital expenditures, of approximately $150 to $170 million, vessel construction expenditures (including capitalized interest and owner's items) of approximately $400 million, and dry-docking payments of approximately $45 million.” source
  • vessel construction expenditures full year 2026 about $400m Raised
    “For the full year 2026, the Company expects to make capital expenditure payments, including maintenance capital expenditures, of approximately $150 to $170 million, vessel construction expenditures (including capitalized interest and owner's items) of approximately $400 million, and dry-docking payments of approximately $45 million.” source
  • dry-docking payments full year 2026 about $45m Raised
    “For the full year 2026, the Company expects to make capital expenditure payments, including maintenance capital expenditures, of approximately $150 to $170 million, vessel construction expenditures (including capitalized interest and owner's items) of approximately $400 million, and dry-docking payments of approximately $45 million.” source
  • Ocean Transportation operating income third quarter 2026 about 45% growth
    “Based on the outlook trends noted above, the Company expects Ocean Transportation operating income in the third quarter 2026 to be approximately 45 percent higher than the $147.4 million achieved in the third quarter 2025.” source
  • consolidated operating income third quarter 2026 about 45% growth
    “For the third quarter 2026, the Company expects consolidated operating income to be approximately 45 percent higher than the level achieved in the third quarter 2025.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Matson, Inc.'s revenue by +5.5% next year and +1.7% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+7.7%, weight 62%) and the company's own record (+2.0%, weight 38%) . How the weights are set.

Analyst recommendations

4 analysts, Oct 2026
Buy4100%
Hold00%
Sell00%

Monthly trend

  1. Oct 2026134
  2. Sep 2026134
  3. Aug 2026123
  4. Jul 2026123

Counts of recommendations published by analysts covering Matson, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
7.5%
of tradable shares
Days to cover
4.88
at average volume
Short interest, 1 month
+38%
to September 30, 2026
Held by institutions
91%
of shares
Held by insiders
1.9%
of shares
Employees
4,170
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +121.0%

$100.01 on October 31, 2025 to $221.04

ThenNowEffect
Revenue (last 12 months) $3.5bn $3.5bn −0.2%
Net margin 14.3% 13.4% −6.0%
P/E multiple 6.8x 14.8x +118.7%
Share count 33m 31m +7.7%

Biggest factor: p/e multiple.

Last 3 years +157.6%

$85.82 on November 3, 2023 to $221.04

ThenNowEffect
Revenue (last 12 months) $3.4bn $3.5bn +1.9%
Net margin 13.5% 13.4% −0.8%
P/E multiple 6.9x 14.8x +113.8%
Share count 37m 31m +19.2%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
MATX+60%−30%+78%+24%−7%+80%
Industry peers (median)+20%+15%+20%−11%+22%+28%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
MATX58%50%75%67%50%73%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
MATX−22%−51%−20%−19%−41%−13%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 55% from November 6, 2015 to August 18, 2017. Getting back needed a 123% gain, reached on October 9, 2020, 1148 days after the low.

Price behaviour

52-week range
$97.16 – $238.60
From 52-week high
−7.4%
vs 50-day average
−3.0%
vs 200-day average
+14.6%
Volatility (1 year)
35%
Beta vs S&P 500
0.97

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
9 up, 3 down
typical move ±6.9%
After a week
10 up, 2 down
typical move ±6.7%
After a month
8 up, 4 down
typical move ±8.1%
Results releasedNext dayS&P 500 next day5 days21 days
August 3, 2026 +5.4% +3.3% +3.2% +8.4%
July 15, 2026 +6.0% −0.1% +2.3% +1.5%
May 4, 2026 +7.9% +0.4% +5.0% +7.3%
February 24, 2026 +3.4% +1.6% +2.5% 0.0%
January 15, 2026 +10.9% +0.2% +20.5% +25.4%
November 4, 2025 +9.9% −0.8% +8.9% +14.2%
July 31, 2025 +1.5% −2.0% +3.7% −2.0%
May 5, 2025 −17.7% −1.4% +1.1% −0.1%
February 25, 2025 +0.3% −0.4% −5.5% −7.3%
October 30, 2024 +15.2% −2.3% +23.5% +14.2%
August 1, 2024 −0.7% −3.3% −2.0% +4.5%
April 30, 2024 −4.1% −1.9% +1.8% +12.8%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Matson, Inc. in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Matson, Inc.
$3B $3.1B $3.2B $3.3B $3.4B $3.5B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $3.1B Revenue (TTM), FY23 Q4: $3.1B Revenue (TTM), FY24 Q1: $3.1B Revenue (TTM), FY24 Q2: $3.2B Revenue (TTM), FY24 Q3: $3.3B Revenue (TTM), FY24 Q4: $3.4B Revenue (TTM), FY25 Q1: $3.5B Revenue (TTM), FY25 Q2: $3.5B Revenue (TTM), FY25 Q3: $3.4B Revenue (TTM), FY25 Q4: $3.3B Revenue (TTM), FY26 Q1: $3.3B Revenue (TTM), FY26 Q2: $3.5B $3.5B

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $3.1B
FY23 Q4 $3.1B
FY24 Q1 $3.1B
FY24 Q2 $3.2B
FY24 Q3 $3.3B
FY24 Q4 $3.4B
FY25 Q1 $3.5B
FY25 Q2 $3.5B
FY25 Q3 $3.4B
FY25 Q4 $3.3B
FY26 Q1 $3.3B
FY26 Q2 $3.5B
Revenue growth, TTM YoY Matson, Inc.
-40% -20% 0% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -35.4% Revenue growth, TTM YoY, FY23 Q4: -28.7% Revenue growth, TTM YoY, FY24 Q1: -19.8% Revenue growth, TTM YoY, FY24 Q2: -6.1% Revenue growth, TTM YoY, FY24 Q3: 6.9% Revenue growth, TTM YoY, FY24 Q4: 10.6% Revenue growth, TTM YoY, FY25 Q1: 11.9% Revenue growth, TTM YoY, FY25 Q2: 8.8% Revenue growth, TTM YoY, FY25 Q3: 1.9% Revenue growth, TTM YoY, FY25 Q4: -2.3% Revenue growth, TTM YoY, FY26 Q1: -4.6% Revenue growth, TTM YoY, FY26 Q2: -0.2% -0.2%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -35.4%
FY23 Q4 -28.7%
FY24 Q1 -19.8%
FY24 Q2 -6.1%
FY24 Q3 6.9%
FY24 Q4 10.6%
FY25 Q1 11.9%
FY25 Q2 8.8%
FY25 Q3 1.9%
FY25 Q4 -2.3%
FY26 Q1 -4.6%
FY26 Q2 -0.2%
Operating margin (TTM) Matson, Inc.
10% 12% 14% 16% 18% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 11.6% Operating margin (TTM), FY23 Q4: 11.1% Operating margin (TTM), FY24 Q1: 11.0% Operating margin (TTM), FY24 Q2: 11.6% Operating margin (TTM), FY24 Q3: 14.4% Operating margin (TTM), FY24 Q4: 16.1% Operating margin (TTM), FY25 Q1: 17.1% Operating margin (TTM), FY25 Q2: 16.9% Operating margin (TTM), FY25 Q3: 14.9% Operating margin (TTM), FY25 Q4: 14.9% Operating margin (TTM), FY26 Q1: 14.4% Operating margin (TTM), FY26 Q2: 15.2% 15.2%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 11.6%
FY23 Q4 11.1%
FY24 Q1 11.0%
FY24 Q2 11.6%
FY24 Q3 14.4%
FY24 Q4 16.1%
FY25 Q1 17.1%
FY25 Q2 16.9%
FY25 Q3 14.9%
FY25 Q4 14.9%
FY26 Q1 14.4%
FY26 Q2 15.2%
FCF margin (TTM) Matson, Inc.
-5% 0% 5% 10% 15% FY15 Q3 FY16 Q2 FY24 Q4 FY26 Q1 FCF margin (TTM), FY15 Q3: 10.7% FCF margin (TTM), FY15 Q4: 9.4% FCF margin (TTM), FY16 Q1: 6.4% FCF margin (TTM), FY16 Q2: 5.1% FCF margin (TTM), FY16 Q3: 3.6% FCF margin (TTM), FY16 Q4: -1.1% FCF margin (TTM), FY24 Q4: 13.4% FCF margin (TTM), FY25 Q1: 13.7% FCF margin (TTM), FY25 Q2: 7.4% FCF margin (TTM), FY25 Q3: 4.8% FCF margin (TTM), FY25 Q4: 4.6% FCF margin (TTM), FY26 Q1: 6.0% 6.0%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period FCF margin (TTM)
FY15 Q3 10.7%
FY15 Q4 9.4%
FY16 Q1 6.4%
FY16 Q2 5.1%
FY16 Q3 3.6%
FY16 Q4 -1.1%
FY24 Q4 13.4%
FY25 Q1 13.7%
FY25 Q2 7.4%
FY25 Q3 4.8%
FY25 Q4 4.6%
FY26 Q1 6.0%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Matson took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $3.3B
  2. Other income $34M · 1.0%
  3. Selling, general and admin $294M · 8.8%
  4. Other operating costs $2.6B · 76.3%
  5. Operating income $500M · 14.9%
  6. Income tax $89M · 2.7%
  7. Net income $445M · 13.3%

Shares of revenue. Source: Matson's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained. Other income is income outside operations, such as investment gains.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 1,392 1,371 1,463 1,560 1,637 1,714 1,885 1,942 2,047 2,223 2,203 2,383 3,925 4,343 3,095 3,422 3,345 3,459
EBITDA 139 196 150 169 170 210 280 254 249 258 230 395 1,305 1,477 467 687 647 —
Operating income 34 125 79 97 100 140 196 157 147 164 129 280 1,188 1,354 343 551 500 525
Net income 44 92 34 46 54 71 103 81 231 109 83 193 927 1,064 297 476 445 464
Diluted EPS $1.08 $2.22 $0.81 $1.08 $1.25 $1.63 $2.34 $1.87 $5.35 $2.53 $1.91 $4.44 $21.47 $27.07 $8.32 $13.93 $13.81 $14.95
Growth (year on year)
Revenue −25.6% −1.5% +6.7% +6.7% +4.9% +4.7% +10.0% +3.0% +5.4% +8.6% −0.9% +8.2% +64.7% +10.6% −28.7% +10.6% −2.3% −0.2%
EBITDA −43.3% +41.2% −23.4% +12.6% +0.5% +23.4% +33.4% −9.3% −2.1% +3.9% −11.1% +72.2% +230.1% +13.2% −68.4% +47.0% −5.8% —
Operating income −76.4% +268.8% −37.3% +23.0% +3.7% +39.6% +40.2% −20.2% −6.0% +11.2% −21.2% +117.1% +323.7% +14.0% −74.7% +60.8% −9.3% −10.2%
Net income −66.7% +109.3% −62.9% +34.2% +17.0% +31.8% +45.5% −21.0% +183.8% −52.8% −24.1% +133.5% +380.3% +14.7% −72.1% +60.4% −6.6% −6.1%
Diluted EPS −66.1% +105.6% −63.5% +33.3% +15.7% +30.4% +43.6% −20.1% +186.1% −52.7% −24.5% +132.5% +383.6% +26.1% −69.3% +67.4% −0.9% +1.1%
Margins
EBITDA margin 10.0% 14.3% 10.3% 10.8% 10.4% 12.2% 14.8% 13.1% 12.1% 11.6% 10.4% 16.6% 33.2% 34.0% 15.1% 20.1% 19.4% —
Operating margin 2.4% 9.1% 5.4% 6.2% 6.1% 8.2% 10.4% 8.1% 7.2% 7.4% 5.9% 11.8% 30.3% 31.2% 11.1% 16.1% 14.9% 15.2%
Net margin 3.2% 6.7% 2.3% 2.9% 3.3% 4.1% 5.5% 4.2% 11.3% 4.9% 3.8% 8.1% 23.6% 24.5% 9.6% 13.9% 13.3% 13.4%
Free-cash-flow margin 6.0% 5.7% 2.7% 3.6% 9.8% 8.0% 9.4% −1.1% −4.0% — — — — 24.5% 8.5% 13.4% 4.6% —
Cash flow
Cash from operations 115 150 86 94 196 166 245 158 225 305 249 430 984 1,272 511 768 547 584
Capital spending 31 71 47 38 35 28 68 179 307 — — — — 209 248 310 393 —
Free cash flow 84 79 39 56 161 138 178 −22 −82 — — — — 1,063 262 458 154 —
Stock-based pay 9 3 3 4 6 9 12 11 11 12 11 19 19 18 24 27 23 23
Free cash flow after stock pay 75 76 36 52 155 129 165 −33 −93 — — — — 1,044 238 431 131 —
Balance sheet
Cash 16 14 10 20 115 293 26 14 20 20 21 14 282 250 134 267 142 119
Total debt 471 522 198 319 286 374 430 739 857 899 1,007 819 694 594 480 441 401 381
Net debt (negative = net cash) 455 508 188 299 172 80 404 725 837 879 986 805 412 345 346 174 259 262
Diluted shares 41m 42m 42m 43m 43m 43m 44m 44m 43m 43m 43m 44m 43m 39m 36m 34m 32m 31m
Returned to shareholders
Dividends 52 52 53 40 27 29 31 32 34 35 37 39 46 48 45 45 45 45
Buybacks 0 0 — — — — 5 38 19 — — — 198 397 155 199 303 263
Total returned 52 52 53 40 27 29 36 70 53 35 37 39 244 445 200 244 348 307

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

4 of 6 checks passed · June 30, 2026
What it owns · $4.7bn
Short-term assets $536mLonger-term assets $4.2bn
What it owes, and who funded it · $3.4bn
Short-term liabilities $604mShareholders' equity $2.8bn
  • Short-term assets cover short-term liabilities $536m of assets due within a year against $604m of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $119m of cash against $332m of debt.
  • Debt below 40% of shareholders' equity Debt is 12% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 33% to 12% over five years.
  • A year's operating cash flow covers at least 20% of debt $584m of operating cash flow against $332m of debt.
  • Operating profit covers interest at least five times over Operating income of $525m against $7m of interest.

From Matson, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$263M
Dividends (TTM)
$44.6M
Returned to shareholders
167%
of free cash flow
Buybacks, last 3 fiscal years
$658M
Diluted share count
−7.1%
year over year
Total shareholder yield
4.6%
dividends 0.7% + buybacks 3.9% of market value
Dividend payout ratio
10%
of net income paid out

Competitors: side by side with peers

Closest by revenue in marine transportation
Last 12 months unless stated MATX KEX HAFN ZIM NMM INSW Median
Revenue, last 12 months $3.5bn $3.5bn $2.3bn $6.9bn $1.3bn $1.3bn $329m
Revenue growth, last 12 months −0.2% 6.6% −20.5% −18.1% 0.8% 57.4% 0.8%
Revenue growth, 3-year average 0.6% 5.1% — — 89.3% 2.9% 16.8%
Revenue growth, latest quarter 16.7% 7.8% — — — 138.8% 43.1%
Gross margin — — 41.9% 19.1% 90.5% — 64.5%
Operating margin 15.2% 14.0% 16.2% 14.7% — 64.2% 18.6%
Operating margin, 3-year average 14.5% 13.1% — — — 51.4% 13.1%
Net margin 13.4% 10.2% 14.9% 6.9% 21.2% 62.0% 13.3%
Cash from operations / revenue 16.9% 20.3% 26.4% 33.3% 37.6% 50.4% 33.1%
Free-cash-flow margin 6.0% 13.6% 20.0% 14.7% 20.9% 50.3% 14.2%
Free-cash-flow margin, 3-year average 8.3% 9.4% — — −6.7% 51.9% 9.4%
Stock pay / revenue 0.7% 0.5% 0.1% 0.0% 0.0% 0.6% 0.7%
Change in share count −7.1% −5.1% −2.1% 0.0% — 0.2% 0.5%

Median of all 42 companies we cover in marine transportation. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

42 marine transportation companies
Measure Company Peer median Rank
Revenue growth Growth -0.2% 0.8% 21 of 40
Change in growth rate Growth +4.5pp +0.7pp 14 of 40
Operating margin Profitability 15.2% 19.8% 24 of 40
Net margin Profitability 13.4% 13.4% 21 of 42
Free-cash-flow margin Cash generation 6.0% 13.6% 30 of 41
Stock pay as % of revenue Cash generation 0.7% 0.9% 15 of 34
Long-term debt as % of assets Balance sheet 6.2% 24.2% 6 of 35
Change in share count Balance sheet -7.1% 0.5% 2 of 39

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Ocean Transportation $2.7B 81.8% ▼ 2.6%
Logistics $609M 18.2% ▼ 0.5%

From Matson, Inc.'s 10-K filed February 27, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$5B
Institutions reporting
424
Shares held vs prior quarter
▲ 0.6%
Positions opened / closed
63 / 36

Top buyers and sellers, Q2 2026: 202 institutions bought and 167 sold ; the biggest buyer was Millennium Management LLC (+264K shares) and the biggest seller Balyasny Asset Management L.P (−236K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $953M 5.0M 19.0% ▼ 1.1%
Vanguard Portfolio Management LLC $384M 2.0M 7.7% ▼ 1.5%
Dimensional Fund Advisors LP $374M 1.9M 7.5% ▼ 0.2%
American Century Companies Inc $338M 1.8M 6.8% ▲ 17.1%
Vanguard Capital Management LLC $249M 1.3M 5.0% ▼ 2.6%
State Street Corp $232M 1.2M 4.6% 0.0%
Geode Capital Management, LLC $154M 799K 3.1% ▲ 3.0%
Capital Research Global Investors $131M 680K 2.6% ▲ 7.0%
Fuller & Thaler Asset Management, Inc. $125M 648K 2.5% ▲ 5.7%
T. Rowe Price Investment Management, Inc. $101M 527K 2.0% ▼ 0.3%
FMR LLC $88.6M 461K 1.8% ▲ 42.2%
LSV Asset Management $79.7M 414K 1.6% ▲ 34.0%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Matson, Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $28.5M 60 trades by 15 insiders · 44% under pre-set plans
Net ▼ $28.5M net selling
Insider Date Trade Shares Price Value
Cox Matthew J Chairman & CEO October 29, 2026 Sell pre-set plan 3,550 $228.87 $812,488
Cox Matthew J Chairman & CEO October 29, 2026 Sell pre-set plan 3,320 $227.71 $755,997
Cox Matthew J Chairman & CEO October 29, 2026 Sell pre-set plan 1,560 $229.93 $358,691
Cox Matthew J Chairman & CEO October 29, 2026 Sell pre-set plan 1,290 $226.44 $292,108
Cox Matthew J Chairman & CEO October 29, 2026 Sell pre-set plan 280 $230.63 $64,577
Cox Matthew J Chairman & CEO September 29, 2026 Sell pre-set plan 6,048 $222.73 $1.3M
Cox Matthew J Chairman & CEO September 29, 2026 Sell pre-set plan 2,495 $221.52 $552,692
Cox Matthew J Chairman & CEO September 29, 2026 Sell pre-set plan 752 $223.72 $168,237
Cox Matthew J Chairman & CEO September 29, 2026 Sell pre-set plan 705 $220.32 $155,326
Cox Matthew J Chairman & CEO August 28, 2026 Sell pre-set plan 6,115 $223.22 $1.4M
Cox Matthew J Chairman & CEO August 28, 2026 Sell pre-set plan 3,443 $223.91 $770,922
Cox Matthew J Chairman & CEO August 28, 2026 Sell pre-set plan 442 $225.05 $99,472

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 3 trades and filings

No trades in Matson, Inc. disclosed in the last 12 months; 3 earlier trades on record.

  • Virginia Foxx(R-NC 5):Sale (full), $15,001 - $50,000, traded September 8, 2016, filed October 7, 2016
  • Virginia Foxx(R-NC 5):Purchase, $15,001 - $50,000, traded July 30, 2015, filed August 12, 2015
  • Virginia Foxx(R-NC 5):Purchase, $15,001 - $50,000, traded March 16, 2015, filed April 3, 2015

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around October 12, 2026 estimated from the company's past filing pattern, not announced

  • August 3, 2026
  • July 15, 2026
  • May 4, 2026
  • February 24, 2026
  • January 15, 2026
  • November 4, 2025

Recent SEC filings

Data status

When each part of this page on Matson, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Matson, Inc. in brief

What does Matson, Inc. do?
Matson, Inc. is a US-listed company in the marine transportation industry. Its financial year ends in December.
What is Matson, Inc.'s stock ticker?
Matson, Inc. trades under the ticker MATX on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Matson, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Matson, Inc. reported revenue of $3.5B, 0.2% lower than a year earlier, according to its SEC filings.
What is Matson, Inc.'s free cash flow?
Matson, Inc.'s free-cash-flow margin is 6.0% of revenue over the trailing twelve months, ranking 30 of the 41 marine transportation companies we cover.
Who are Matson, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Portfolio Management LLC and Dimensional Fund Advisors LP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Matson, Inc. buying back stock, and does it pay a dividend?
Matson, Inc. spent $263M on share repurchases over the trailing twelve months, and its diluted share count fell 7.1% over the year.
What is Matson, Inc.'s market cap?
On November 2, 2026, Matson, Inc.'s market capitalisation was about $6.9B, with a price-to-earnings ratio of 14.8 and net debt of $262M. Market figures come from third-party market data and may be delayed.
Does Matson, Inc. pay a dividend?
Yes: Matson, Inc. paid $44.6M in dividends over the trailing twelve months, a dividend yield of 0.66% and a payout ratio of 9.6%.
How much debt does Matson, Inc. have?
Matson, Inc.'s debt-to-equity ratio is 12.0%, from its latest balance sheet (33.0% five years earlier). The financial health section below sets out its other solvency checks.
Who are Matson, Inc.'s competitors?
In our Marine Transportation peer group, the companies closest to Matson, Inc. are Kirby Corp, Hafnia Ltd, ZIM Integrated Shipping Services Ltd., Navios Maritime Partners L.p. and International Seaways, Inc. The side-by-side comparison below sets their revenue, margins and growth against Matson, Inc.'s.
Are insiders buying or selling Matson, Inc. stock?
Over the last 12 months, Matson, Inc.'s directors and officers reported 0 open-market purchases and 60 sales on Form 4. The insider trading page charts every trade.
When is Matson, Inc.'s next earnings date?
Around November 4, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Matson, Inc. announces its own schedule.