NYSE : MATX
Matson, Inc. — Financial statements
Industrials · Marine Shipping · United States
Last price 223.85 USD (Oct 30, 2026, 4:00 PM EST) · Market cap 6.69B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Matson, Inc. (MATX) reported revenue of 3.46B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 3.46B | 3.34B | 3.42B | 3.09B | 4.34B | 3.93B |
| Cost of Revenue | 2.66B | 2.58B | 2.57B | 2.47B | 2.81B | 2.56B |
| Gross Profit | 796.40M | 761.40M | 855.90M | 623.90M | 1.53B | 1.37B |
| Selling, General & Admin | 291.20M | 284.20M | 295.10M | 275.80M | 251.40M | 229.10M |
| Operating Expenses | 291.20M | 284.20M | 295.10M | 275.80M | 251.40M | 229.10M |
| Operating Income | 505.20M | 477.20M | 560.80M | 348.10M | 1.28B | 1.14B |
| Interest Expense | -6.60M | -6.80M | -7.50M | -12.20M | -18.00M | -22.60M |
| Interest & Investment Income | 25.40M | 31.70M | 48.30M | 36.00M | 8.20M | |
| Earnings From Equity Investments | 28.40M | 32.50M | -1.00M | 2.20M | 83.10M | 56.30M |
| Other Non Operating Income (Expenses) | -700.00K | -800.00K | -1.20M | -1.10M | -1.10M | -1.00M |
| EBT Excluding Unusual Items | 551.70M | 533.80M | 599.40M | 373.00M | 1.35B | 1.17B |
| Pretax Income | 551.70M | 533.80M | 599.40M | 373.00M | 1.35B | 1.17B |
| Income Tax Expense | 87.90M | 89.00M | 123.00M | 75.90M | 288.40M | 243.90M |
| Net Income | 463.80M | 444.80M | 476.40M | 297.10M | 1.06B | 927.40M |
| Net Income to Common | 463.80M | 444.80M | 476.40M | 297.10M | 1.06B | 927.40M |
| Shares Outstanding (Basic) | 30.65M | 31.80M | 33.70M | 35.30M | 39.00M | 42.80M |
| Shares Outstanding (Diluted) | 31.05M | 32.20M | 34.20M | 35.70M | 39.30M | 43.20M |
| EPS (Basic) | 15.13 | 13.99 | 14.14 | 8.42 | 27.28 | 21.67 |
| EPS (Diluted) | 14.94 | 13.81 | 13.93 | 8.32 | 27.07 | 21.47 |
| Free Cash Flow | 110.60M | 153.70M | 456.90M | 249.70M | 1.06B | 658.80M |
| Free Cash Flow Per Share | 3.56 | 4.77 | 13.36 | 6.99 | 26.96 | 15.25 |
| Dividend Per Share | 1.44 | 1.40 | 1.32 | 1.26 | 1.22 | 1.06 |
| Gross Margin | 23.02% | 22.77% | 25.01% | 20.16% | 35.26% | 34.84% |
| Operating Margin | 14.61% | 14.27% | 16.39% | 11.25% | 29.48% | 29.01% |
| Profit Margin | 13.41% | 13.30% | 13.92% | 9.60% | 24.50% | 23.63% |
| Free Cash Flow Margin | 3.20% | 4.60% | 13.35% | 8.07% | 24.40% | 16.78% |
| EBITDA | 674.60M | 644.10M | 713.90M | 490.30M | 1.42B | 1.27B |
| EBITDA Margin | 19.50% | 19.26% | 20.86% | 15.84% | 32.68% | 32.47% |
| D&A For EBITDA | 169.40M | 166.90M | 153.10M | 142.20M | 139.20M | 135.90M |
| EBIT | 505.20M | 477.20M | 560.80M | 348.10M | 1.28B | 1.14B |
| EBIT Margin | 14.61% | 14.27% | 16.39% | 11.25% | 29.48% | 29.01% |
| Effective Tax Rate | 15.93% | 16.67% | 20.52% | 20.35% | 21.33% | 20.82% |
| Revenue as Reported | 3.46B | 3.34B | 3.42B | 3.09B | 4.34B | 3.93B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 119.30M | 141.90M | 266.80M | 134.00M | 249.80M | 282.40M |
| Cash & Short-Term Investments | 119.30M | 141.90M | 266.80M | 134.00M | 249.80M | 282.40M |
| Accounts Receivable | 335.30M | 256.80M | 268.90M | 279.40M | 268.50M | 343.70M |
| Other Receivables | 125.20M | 170.80M | 23.10M | |||
| Receivables | 335.30M | 256.80M | 268.90M | 404.60M | 439.30M | 366.80M |
| Inventory | 25.30M | 31.20M | 22.50M | 26.30M | 22.60M | |
| Prepaid Expenses | 81.40M | 44.60M | 37.80M | 27.50M | 17.40M | 10.10M |
| Restricted Cash | 2.30M | 3.90M | 5.30M | |||
| Other Current Assets | 3.30M | 4.90M | 11.40M | 22.90M | 17.30M | |
| Total Current Assets | 536.00M | 471.90M | 609.60M | 602.30M | 759.60M | 704.50M |
| Property, Plant & Equipment | 3.05B | 2.87B | 2.62B | 2.38B | 2.36B | 2.31B |
| Long-Term Investments | 106.20M | 96.20M | 84.10M | 85.50M | 81.20M | 58.70M |
| Goodwill | 327.80M | 327.80M | 327.80M | 327.80M | 327.80M | 327.80M |
| Other Intangible Assets | 140.30M | 146.60M | 159.40M | 176.40M | 174.90M | 181.10M |
| Long-Term Deferred Charges | 109.60M | 94.70M | 73.70M | 57.30M | 55.30M | 68.70M |
| Other Long-Term Assets | 440.30M | 629.40M | 722.20M | 665.80M | 571.80M | 39.40M |
| Total Assets | 4.71B | 4.64B | 4.60B | 4.29B | 4.33B | 3.69B |
| Accounts Payable | 297.90M | 244.90M | 268.50M | 277.90M | 255.60M | 308.40M |
| Accrued Expenses | 68.20M | 76.80M | 76.30M | 72.00M | 72.10M | |
| Current Portion of Long-Term Debt | 39.70M | 39.70M | 39.70M | 39.70M | 76.90M | 65.00M |
| Current Portion of Leases | 132.80M | 128.50M | 129.00M | 136.70M | 143.60M | 137.60M |
| Current Income Taxes Payable | 6.00M | 8.60M | 1.60M | 2.20M | 3.10M | |
| Current Unearned Revenue | 5.70M | 5.50M | 6.40M | |||
| Other Current Liabilities | 133.40M | 34.40M | 32.30M | 23.70M | 31.30M | 26.20M |
| Total Current Liabilities | 603.80M | 527.40M | 560.40M | 562.30M | 581.60M | 612.40M |
| Long-Term Debt | 292.70M | 312.10M | 350.80M | 389.30M | 427.70M | 549.70M |
| Long-Term Leases | 251.20M | 246.80M | 229.50M | 159.30M | 262.50M | 307.40M |
| Pension & Post-Retirement Benefits | 58.00M | 65.50M | 68.30M | 66.40M | 94.10M | |
| Long-Term Deferred Tax Liabilities | 704.40M | 701.90M | 693.40M | 669.30M | 646.50M | 425.20M |
| Other Long-Term Liabilities | 88.30M | 30.40M | 43.80M | 45.40M | 48.40M | 36.90M |
| Total Liabilities | 1.94B | 1.88B | 1.94B | 1.89B | 2.03B | 2.03B |
| Common Stock | 22.40M | 22.80M | 24.70M | 25.80M | 27.20M | 30.70M |
| Additional Paid-In Capital | 280.00M | 295.20M | 296.70M | 293.40M | 290.40M | 314.10M |
| Retained Earnings | 2.47B | 2.44B | 2.34B | 2.09B | 1.99B | 1.35B |
| Comprehensive Income & Other | -1.30M | 1.60M | -6.50M | -8.20M | -6.90M | -30.90M |
| Shareholders' Equity | 2.77B | 2.76B | 2.65B | 2.40B | 2.30B | 1.67B |
| Total Liabilities & Equity | 4.71B | 4.64B | 4.60B | 4.29B | 4.33B | 3.69B |
| Total Debt | 716.40M | 727.10M | 749.00M | 725.00M | 910.70M | 1.06B |
| Net Cash (Debt) | -597.10M | -585.20M | -482.20M | -591.00M | -660.90M | -777.30M |
| Net Cash Per Share | -19.23 | -18.17 | -14.10 | -16.55 | -16.82 | -17.99 |
| Filing Date Shares Outstanding | 29.90M | 30.44M | 32.86M | 34.50M | 36.11M | 40.88M |
| Total Common Shares Outstanding | 29.90M | 30.40M | 33.00M | 34.40M | 36.30M | 41.00M |
| Working Capital | -67.80M | -55.50M | 49.20M | 40.00M | 178.00M | 92.10M |
| Book Value Per Share | 92.74 | 90.76 | 80.36 | 69.79 | 63.28 | 40.67 |
| Tangible Book Value | 2.31B | 2.28B | 2.16B | 1.90B | 1.79B | 1.16B |
| Tangible Book Value Per Share | 77.08 | 75.15 | 65.60 | 55.13 | 49.43 | 28.26 |
| Machinery | 2.60B | 2.58B | 2.63B | 2.47B | 2.28B | 2.24B |
| Construction In Progress | 682.80M | 487.30M | 241.40M | 170.80M | 115.90M | 34.40M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 463.80M | 444.80M | 476.40M | 297.10M | 1.06B | 927.40M |
| Depreciation & Amortization | 304.40M | 300.00M | 286.80M | 284.20M | 292.20M | 239.20M |
| Loss (Gain) From Sale of Assets | -4.40M | -4.40M | -2.30M | 600.00K | -1.50M | -800.00K |
| Loss (Gain) on Equity Investments | -7.40M | -11.50M | 15.00M | -2.20M | -35.80M | -9.40M |
| Stock-Based Compensation | 22.70M | 22.70M | 26.50M | 23.80M | 18.30M | 19.30M |
| Other Operating Activities | 8.00M | 1.20M | 10.60M | 19.10M | 92.30M | 33.20M |
| Change in Accounts Receivable | -46.60M | 12.30M | 9.80M | -10.90M | 74.60M | -90.30M |
| Change in Accounts Payable | 19.50M | -33.80M | -5.60M | 10.90M | -31.70M | 39.60M |
| Change in Other Net Operating Assets | -175.90M | -184.20M | -49.40M | -112.10M | -200.40M | -174.10M |
| Operating Cash Flow | 584.10M | 547.10M | 767.80M | 510.50M | 1.27B | 984.10M |
| Capital Expenditures | -473.50M | -393.40M | -310.90M | -260.80M | -212.30M | -325.30M |
| Sale of Property, Plant & Equipment | 8.60M | 9.10M | 5.90M | 1.20M | 1.20M | 1.90M |
| Other Investing Activities | 315.30M | 118.70M | -31.10M | -78.60M | -518.20M | |
| Investing Cash Flow | -149.60M | -265.60M | -336.10M | -338.20M | -729.30M | -323.40M |
| Long-Term Debt Issued | 304.30M | |||||
| Long-Term Debt Repaid | -39.70M | -39.70M | -76.90M | -111.50M | -435.40M | |
| Net Debt Issued (Repaid) | -39.70M | -39.70M | -39.70M | -76.90M | -111.50M | -131.10M |
| Repurchase of Common Stock | -287.90M | -319.70M | -216.70M | -167.80M | -417.10M | -212.70M |
| Common Dividends Paid | -44.60M | -44.90M | -44.80M | -45.00M | -48.00M | -45.90M |
| Other Financing Activities | -2.10M | -2.10M | -3.00M | |||
| Financing Cash Flow | -374.30M | -406.40M | -301.20M | -289.70M | -576.60M | -392.70M |
| Net Cash Flow | 60.20M | -124.90M | 130.50M | -117.40M | -34.00M | 268.00M |
| Free Cash Flow | 110.60M | 153.70M | 456.90M | 249.70M | 1.06B | 658.80M |
| Free Cash Flow Margin | 3.20% | 4.60% | 13.35% | 8.07% | 24.40% | 16.78% |
| Free Cash Flow Per Share | 3.56 | 4.77 | 13.36 | 6.99 | 26.96 | 15.25 |
| Levered Free Cash Flow | 147.12M | 203.60M | 479.51M | 323.44M | 750.61M | 530.00M |
| Unlevered Free Cash Flow | 151.25M | 207.85M | 484.20M | 331.06M | 761.86M | 544.12M |
| Cash Interest Paid | 5.10M | 5.30M | 5.90M | 11.10M | 16.20M | 19.30M |
| Cash Income Tax Paid | 77.10M | 86.10M | -26.50M | 7.50M | 215.20M | 241.60M |
| Change in Working Capital | -203.00M | -205.70M | -45.20M | -112.10M | -157.50M | -224.80M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 6.69B | 3.85B | 4.48B | 3.83B | 2.44B | 3.75B |
| Enterprise Value | 7.29B | 4.48B | 4.86B | 4.42B | 2.71B | 4.58B |
| Last Close Price | 223.85 | 122.81 | 132.36 | 106.48 | 59.76 | 84.79 |
| PE Ratio | 14.99 | 8.66 | 9.40 | 12.89 | 2.29 | 4.04 |
| Forward PE | 12.43 | 11.09 | 12.62 | 14.77 | 6.58 | 6.37 |
| PS Ratio | 1.94 | 1.15 | 1.31 | 1.24 | 0.56 | 0.95 |
| PB Ratio | 2.41 | 1.40 | 1.69 | 1.59 | 1.06 | 2.25 |
| P/TBV Ratio | 2.90 | 1.69 | 2.07 | 2.02 | 1.36 | 3.23 |
| P/FCF Ratio | 60.52 | 25.06 | 9.80 | 15.33 | 2.30 | 5.69 |
| P/OCF Ratio | 11.46 | 7.04 | 5.83 | 7.50 | 1.92 | 3.81 |
| PEG Ratio | 0.58 | 0.58 | 0.58 | 0.58 | 0.58 | |
| EV/Sales Ratio | 2.11 | 1.34 | 1.42 | 1.43 | 0.62 | 1.17 |
| EV/EBITDA Ratio | 10.81 | 6.95 | 6.81 | 9.02 | 1.91 | 3.59 |
| EV/EBIT Ratio | 14.43 | 9.38 | 8.68 | 12.71 | 2.12 | 4.02 |
| EV/FCF Ratio | 65.92 | 29.14 | 10.65 | 17.72 | 2.56 | 6.95 |
| Debt / Equity Ratio | 0.26 | 0.26 | 0.28 | 0.30 | 0.40 | 0.64 |
| Debt / EBITDA Ratio | 0.86 | 0.92 | 0.86 | 1.13 | 0.58 | 0.76 |
| Debt / FCF Ratio | 6.48 | 4.73 | 1.64 | 2.90 | 0.86 | 1.61 |
| Net Debt / Equity Ratio | 0.21 | 0.21 | 0.18 | 0.25 | 0.29 | 0.47 |
| Net Debt / EBITDA Ratio | 0.89 | 0.91 | 0.68 | 1.21 | 0.47 | 0.61 |
| Net Debt / FCF Ratio | 5.40 | 3.81 | 1.05 | 2.37 | 0.62 | 1.18 |
| Asset Turnover | 0.75 | 0.72 | 0.77 | 0.72 | 1.08 | 1.19 |
| Inventory Turnover | 91.44 | 95.56 | 101.26 | 114.99 | ||
| Quick Ratio | 0.75 | 0.76 | 0.96 | 0.96 | 1.19 | 1.06 |
| Current Ratio | 0.89 | 0.90 | 1.09 | 1.07 | 1.31 | 1.15 |
| Return on Equity (ROE) | 17.21% | 16.44% | 18.86% | 12.65% | 53.67% | 70.56% |
| Return on Assets (ROA) | 6.87% | 6.46% | 7.89% | 5.04% | 19.94% | 21.58% |
| Return on Invested Capital (ROIC) | 12.68% | 12.28% | 14.55% | 9.32% | 37.28% | 41.02% |
| Return on Capital Employed (ROCE) | 12.30% | 11.60% | 13.90% | 9.30% | 34.20% | 37.00% |
| Earnings Yield | 6.67% | 11.55% | 10.64% | 7.76% | 43.66% | 24.74% |
| FCF Yield | 1.65% | 3.99% | 10.20% | 6.52% | 43.48% | 17.58% |
| Dividend Yield | 0.68% | 1.10% | 0.97% | 1.13% | 1.82% | 1.16% |
| Payout Ratio | 10.18% | 10.09% | 9.40% | 15.15% | 4.51% | 4.95% |
| Buyback Yield / Dilution | 6.90% | 5.85% | 4.20% | 9.16% | 9.03% | 0.69% |
| Total Shareholder Return | 7.58% | 6.95% | 5.17% | 10.29% | 10.85% | 1.85% |