Matson, Inc. MATX
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. In addition, subsidiaries of MatNav provide stevedoring, refrigerated cargo services, inland transportation and other terminal services for MatNav in Hawaii and Alaska.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.34B | $3.42B | $3.09B | $4.34B | $3.93B | $2.38B | $2.20B | $2.22B | $2.05B | $1.94B |
| SG&A | $294.1M | $303.6M | $283.3M | $261.0M | $236.5M | $225.0M | $216.8M | $220.8M | $206.8M | $183.1M |
| Total operating expenses | -$2.58B | -$2.57B | -$2.47B | $2.81B | $2.74B | $2.10B | $2.07B | $2.06B | $1.90B | $1.78B |
| Operating income | $499.8M | $551.3M | $342.8M | $1.35B | $1.19B | $280.3M | $129.1M | $163.8M | $147.3M | $156.7M |
| Interest expense | $6.8M | $7.5M | $12.2M | $18.0M | $22.6M | $27.4M | $22.5M | $18.7M | $24.2M | $24.1M |
| Pre-tax income | $533.8M | $599.4M | $373.0M | $1.35B | $1.17B | $259.0M | $107.8M | $147.7M | $125.2M | $130.5M |
| Income tax | $89.0M | $123.0M | $75.9M | $288.4M | $243.9M | $65.9M | $25.1M | $38.7M | $105.8M | $49.1M |
| Net income | $444.8M | $476.4M | $297.1M | $1.06B | $927.4M | $193.1M | $82.7M | $109.0M | $231.0M | $81.4M |
| EPS, basic | 13.99 | 14.14 | 8.42 | 27.28 | 21.67 | 4.48 | 1.93 | 2.55 | 5.38 | 1.89 |
| EPS, diluted | 13.81 | 13.93 | 8.32 | 27.07 | 21.47 | 4.44 | 1.91 | 2.53 | 5.35 | 1.87 |
| Shares, diluted (wtd. avg.) | $32.2M | $34.2M | $35.7M | $39.3M | $43.2M | $43.5M | $43.3M | $43.0M | $43.2M | $43.5M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $141.9M | $266.8M | $134.0M | $253.7M | $287.7M | $19.7M | $28.4M | $24.5M | $19.8M | $13.9M |
| Receivables | $256.8M | $268.9M | $279.4M | $268.5M | $343.7M | $253.4M | $205.9M | $223.7M | $194.6M | $189.5M |
| Total current assets | $471.9M | $609.6M | $602.3M | $759.6M | $704.5M | $305.9M | $289.6M | $318.4M | $266.0M | $274.2M |
| Property, plant and equipment | $2.50B | $2.26B | $2.09B | $1.96B | $1.88B | $1.69B | $1.60B | $1.37B | $1.17B | $949.2M |
| Goodwill | $327.8M | $327.8M | $327.8M | $327.8M | $327.8M | $327.8M | $327.8M | $327.8M | $327.8M | $323.7M |
| Other intangibles | $146.6M | $159.4M | $176.4M | $174.9M | $181.1M | $192.0M | $202.9M | $214.0M | $225.2M | $236.6M |
| Total assets | $4.64B | $4.60B | $4.29B | $4.33B | $3.69B | $2.90B | $2.85B | $2.43B | $2.25B | $2.02B |
| Accounts payable | $244.9M | $268.5M | $277.9M | $255.6M | $308.4M | $283.1M | $235.7M | $246.8M | $175.1M | $170.5M |
| Short-term debt | $39.7M | $39.7M | $39.7M | $76.9M | $65.0M | $59.2M | $48.4M | $42.1M | $30.8M | $31.8M |
| Total current liabilities | $527.4M | $560.4M | $562.3M | $581.6M | $612.4M | $511.5M | $436.7M | $370.8M | $286.3M | $277.6M |
| Long-term debt | $312.1M | $350.8M | $389.3M | $427.7M | $549.7M | $685.6M | $910.0M | $814.3M | $826.3M | $707.1M |
| Retained earnings | $2.44B | $2.34B | $2.09B | $1.99B | $1.35B | $658.1M | $504.2M | $460.0M | $380.5M | $196.6M |
| Total equity | $2.76B | $2.65B | $2.40B | $2.30B | $1.67B | $961.2M | $805.7M | $755.3M | $677.2M | $494.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $547.1M | $767.8M | $510.5M | $1.27B | $984.1M | $429.8M | $248.8M | $305.0M | $224.9M | $157.8M |
| Depreciation and amortisation | $147.4M | $135.4M | $124.4M | $123.5M | $117.1M | $97.1M | $86.3M | $94.4M | $101.2M | $97.1M |
| Stock-based compensation | $22.7M | $26.5M | $23.8M | $18.3M | $19.3M | $18.8M | $11.3M | $12.1M | $11.1M | $11.2M |
| Capital expenditure | $393.4M | $310.1M | $248.4M | $209.3M | — | — | — | — | $307.0M | $179.4M |
| Investing cash flow | -$265.6M | -$336.1M | -$338.2M | -$729.3M | -$323.4M | -$177.0M | -$306.9M | -$260.3M | -$276.9M | -$320.7M |
| Financing cash flow | -$406.4M | -$301.2M | -$289.7M | -$576.6M | -$392.7M | -$261.5M | $62.0M | -$40.0M | $57.9M | $151.3M |
| Dividends paid | $44.9M | $44.8M | $45.0M | $48.0M | $45.9M | $39.2M | $37.2M | $35.4M | $33.8M | $32.2M |
| Buybacks | $303.3M | $199.1M | $155.2M | $397.0M | $198.3M | — | — | — | $19.3M | $38.0M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-020944.
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