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Matson (MATX) Financials

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$213.14 +5.69 (+2.74%)
Closing price 03:59 PM Eastern
Extended Trading
$213.44 +0.31 (+0.14%)
As of 04:20 PM Eastern
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Annual Income Statements for Matson

Annual Income Statements for Matson

This table shows Matson's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 103 81 231 109 83 193 927 1,064 297 476 445
Consolidated Net Income / (Loss)		 103 81 231 109 83 193 927 1,064 297 476 445
Net Income / (Loss) Continuing Operations		 103 81 231 109 83 193 927 1,064 297 476 445
Total Pre-Tax Income 		178 131 125 148 108 259 1,171 1,352 373 599 534
Total Operating Income		 196 157 147 164 129 280 1,188 1,354 343 551 500
Total Gross Profit		 375 324 326 348 325 479 1,368 1,532 624 856 761
Total Revenue		 1,885 1,942 2,047 2,223 2,203 2,383 3,925 4,343 3,095 3,422 3,345
Operating Revenue		 1,885 1,942 2,047 2,223 2,203 2,383 3,925 4,343 3,095 3,422 3,345
Total Cost of Revenue		 1,510 1,618 1,721 1,875 1,878 1,904 2,558 2,812 2,471 2,566 2,583
Operating Cost of Revenue		 1,510 1,618 1,721 1,875 1,878 1,904 2,558 - 2,471 2,566 2,583
Total Operating Expenses		 179 167 179 184 196 199 180 178 281 305 262
Selling, General & Admin Expense		 195 183 207 221 217 225 237 261 283 304 294
Other Operating Expenses / (Income)		 -17 -16 -28 -37 -21 -26 -56 -83 -2.20 1.00 -33
Total Other Income / (Expense), net		 -19 -26 -22 -16 -21 -21 -16 -1.30 30 48 34
Interest Expense		 19 24 24 19 23 27 23 18 12 7.50 6.80
Interest & Investment Income		 - - - - - 0.00 0.00 8.20 36 48 32
Other Income / (Expense), net		 - -2.10 2.10 2.60 1.20 6.10 6.40 8.50 6.40 7.30 9.10
Income Tax Expense		 75 49 -106 39 25 66 244 288 76 123 89
Basic Earnings per Share		 $2.37 $1.89 $5.38 $2.55 $1.93 $4.48 $21.67 $27.28 $8.42 $14.14 $13.99
Weighted Average Basic Shares Outstanding		 43.50M 43.10M 42.90M 42.70M 42.80M 43.10M 42.80M 39M 35.30M 33.70M 31.80M
Diluted Earnings per Share		 $2.34 $1.87 $5.35 $2.53 $1.91 $4.44 $21.47 $27.07 $8.32 $13.93 $13.81
Weighted Average Diluted Shares Outstanding		 44M 43.50M 43.20M 43M 43.30M 43.50M 43.20M 39.30M 35.70M 34.20M 32.20M
Weighted Average Basic & Diluted Shares Outstanding		 43.50M 43.10M 42.90M 42.70M 43.04M 43.44M 40.88M 36.11M 34.50M 32.86M 30.44M
Cash Dividends to Common per Share		 $0.70 $0.74 $0.78 $0.82 $0.86 $0.90 $1.06 $1.22 $1.26 $1.32 $1.40

Quarterly Income Statements for Matson

This table shows Matson's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 62 36 113 199 128 72 95 135 143 57 129
Consolidated Net Income / (Loss)		 62 36 113 199 128 72 95 135 143 57 129
Net Income / (Loss) Continuing Operations		 62 36 113 199 128 72 95 135 143 57 129
Total Pre-Tax Income 		84 45 143 253 158 92 122 169 151 68 164
Total Operating Income		 75 37 125 242 148 82 113 161 144 61 159
Total Gross Profit		 145 110 201 308 238 151 180 219 211 134 232
Total Revenue		 789 722 847 962 890 782 831 880 852 758 969
Operating Revenue		 789 722 847 962 890 782 831 880 852 758 969
Total Cost of Revenue		 644 612 647 654 653 631 650 661 641 624 737
Operating Cost of Revenue		 - 612 647 654 - 631 650 661 641 624 737
Total Operating Expenses		 69 73 76 65 90 69 67 58 68 73 73
Selling, General & Admin Expense		 73 73 77 72 81 75 74 67 77 78 78
Other Operating Expenses / (Income)		 -4.10 -0.40 -1.20 -6.90 9.50 -6.60 -7.30 -9.30 -9.30 -5.00 -4.80
Total Other Income / (Expense), net		 9.00 8.40 19 11 11 10 8.70 7.90 7.30 6.50 5.00
Interest Expense		 2.40 2.20 2.10 1.80 1.40 1.70 1.70 1.80 1.60 1.60 1.60
Interest & Investment Income		 9.80 8.80 19 10 10 9.40 8.00 7.60 6.70 6.10 5.00
Other Income / (Expense), net		 1.60 1.80 1.80 1.90 1.80 2.40 2.40 2.10 2.20 2.00 1.60
Income Tax Expense		 22 9.20 30 54 30 20 27 34 7.90 11 35
Basic Earnings per Share		 $1.78 $1.05 $3.34 $5.98 $3.77 $2.20 $2.95 $4.28 $4.56 $1.86 $4.30
Weighted Average Basic Shares Outstanding		 35.30M 34.40M 33.90M 33.30M 33.70M 32.80M 32.10M 31.50M 31.80M 30.40M 30.10M
Diluted Earnings per Share		 $1.72 $1.04 $3.31 $5.89 $3.69 $2.18 $2.92 $4.24 $4.47 $1.85 $4.27
Weighted Average Diluted Shares Outstanding		 35.70M 34.60M 34.20M 33.80M 34.20M 33.20M 32.40M 31.80M 32.20M 30.60M 30.30M
Weighted Average Basic & Diluted Shares Outstanding		 34.50M 34.17M 33.58M 33.21M 32.86M 32.64M 31.79M 31.18M 30.44M 30.26M 29.90M

Annual Cash Flow Statements for Matson

This table details how cash moves in and out of Matson's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -268 -12 5.90 4.70 3.90 -8.70 268 -34 -117 131 -125
Net Cash From Operating Activities		 245 158 225 305 249 430 984 1,272 511 768 547
Net Cash From Continuing Operating Activities		 245 158 225 305 249 430 984 1,272 511 768 547
Net Income / (Loss) Continuing Operations		 103 81 231 109 83 193 927 1,064 297 476 445
Consolidated Net Income / (Loss)		 103 81 231 109 83 193 927 1,064 297 476 445
Depreciation Expense		 83 97 101 94 100 115 136 139 142 153 167
Amortization Expense		 23 39 46 37 95 100 128 178 167 161 162
Non-Cash Adjustments To Reconcile Net Income		 13 -1.80 3.40 15 14 -25 -91 -19 22 39 6.80
Changes in Operating Assets and Liabilities, net		 23 -58 -157 49 -44 47 -116 -90 -118 -62 -233
Net Cash From Investing Activities		 -64 -321 -277 -260 -307 -177 -323 -729 -338 -336 -266
Net Cash From Continuing Investing Activities		 -64 -321 -277 -260 -307 -177 -323 -729 -338 -336 -266
Purchase of Property, Plant & Equipment		 -47 -85 -55 -63 -91 -105 -310 -147 -196 -215 -149
Acquisitions		 -29 -113 - - - - 0.00 -3.00 -12 -0.80 0.00
Sale of Property, Plant & Equipment		 - - -0.20 136 3.40 15 1.90 1.20 1.20 5.90 9.10
Other Investing Activities, net		 12 -123 -222 -338 -219 -88 -15 -581 -132 -127 -126
Net Cash From Financing Activities		 -449 151 58 -40 62 -262 -393 -577 -290 -301 -406
Net Cash From Continuing Financing Activities		 -449 151 58 -40 62 -262 -393 -577 -290 -301 -406
Repayment of Debt		 -1,077 -1,152 -353 -965 -520 -1,190 -438 -112 -77 -40 -42
Repurchase of Common Equity		 -4.90 -38 -19 - 0.00 0.00 -198 -397 -155 -199 -303
Payment of Dividends		 -31 -32 -34 -35 -37 -39 -46 -48 -45 -45 -45
Other Financing Activities, net		 -2.00 -5.60 -7.40 -4.60 -3.10 -5.60 -14 -20 -13 -18 -16
Cash Interest Paid		 18 22 24 18 22 - 19 16 11 5.90 5.30
Cash Income Taxes Paid		 40 16 2.60 5.20 -24 10 242 215 7.50 -27 86

Quarterly Cash Flow Statements for Matson

This table details how cash moves in and out of Matson's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 -24 -108 142 102 -5.90 -145 -63 34 49 -42 19
Net Cash From Operating Activities		 111 37 308 249 175 89 106 176 177 94 138
Net Cash From Continuing Operating Activities		 111 37 308 249 175 89 106 176 177 94 138
Net Income / (Loss) Continuing Operations		 62 36 113 199 128 72 95 135 143 57 129
Consolidated Net Income / (Loss)		 62 36 113 199 128 72 95 135 143 57 129
Depreciation Expense		 34 37 39 38 38 41 41 42 43 42 42
Amortization Expense		 41 41 41 41 38 41 39 39 42 41 44
Non-Cash Adjustments To Reconcile Net Income		 113 19 5.10 -104 119 -0.80 -1.40 -4.00 13 0.50 1.40
Changes in Operating Assets and Liabilities, net		 -138 -97 110 74 -148 -64 -68 -36 -65 -47 -79
Net Cash From Investing Activities		 -68 -59 -72 -78 -127 -129 -54 -53 -29 -37 -31
Net Cash From Continuing Investing Activities		 -68 -59 -72 -78 -127 -129 -54 -53 -29 -37 -31
Purchase of Property, Plant & Equipment		 -60 -54 -33 -58 -70 -23 -49 -46 -32 -30 -25
Other Investing Activities, net		 -8.50 -7.10 -40 -20 -59 -107 -5.40 -7.30 -5.80 -6.40 -5.20
Net Cash From Financing Activities		 -68 -86 -93 -69 -53 -104 -115 -89 -99 -99 -88
Net Cash From Continuing Financing Activities		 -68 -86 -93 -69 -53 -104 -115 -89 -99 -99 -88
Repayment of Debt		 -9.70 -10 -9.80 -10 -9.70 -10 -9.80 -12 -9.70 -10 -9.80
Repurchase of Common Equity		 -47 -47 -73 -47 -32 -67 -94 -65 -78 -53 -67
Payment of Dividends		 -11 -11 -11 -11 -11 -11 -11 -11 -11 -11 -11
Cash Interest Paid		 1.50 0.50 3.00 1.80 0.60 1.70 1.00 1.70 0.90 1.70 0.80
Cash Income Taxes Paid		 13 1.10 -115 29 59 1.60 39 22 24 2.80 29

Annual Balance Sheets for Matson

This table presents Matson's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 1,670 2,016 2,252 2,430 2,845 2,901 3,693 4,330 4,295 4,595 4,636
Total Current Assets		 278 274 266 318 290 306 705 760 602 610 472
Cash & Equivalents		 26 14 20 20 21 14 282 250 134 267 142
Accounts Receivable		 193 190 195 224 206 253 344 269 279 269 257
Prepaid Expenses		 60 71 52 75 63 38 78 241 189 74 73
Plant, Property, & Equipment, net		 860 949 1,166 1,367 1,598 1,690 1,878 1,963 2,090 2,261 2,499
Total Noncurrent Assets		 532 792 820 745 958 905 1,110 1,608 1,602 1,725 1,664
Long-Term Investments		 66 82 93 87 76 49 59 81 86 84 96
Goodwill		 242 324 328 328 328 328 328 328 328 328 328
Intangible Assets		 139 237 225 214 203 192 181 175 176 159 147
Other Noncurrent Operating Assets		 85 149 174 117 351 336 543 1,024 1,013 1,154 1,094
Total Liabilities & Shareholders' Equity		 1,670 2,016 2,252 2,430 2,845 2,901 3,693 4,330 4,295 4,595 4,636
Total Liabilities		 1,219 1,521 1,574 1,675 2,040 1,939 2,026 2,033 1,894 1,943 1,877
Total Current Liabilities		 298 278 286 371 437 512 612 582 562 560 527
Short-Term Debt		 22 32 31 42 48 59 65 77 40 40 40
Accounts Payable		 165 171 175 247 236 283 308 256 278 269 245
Accrued Expenses		 111 75 80 82 86 97 101 106 108 123 114
Other Current Liabilities		 - - - 0.00 67 72 138 144 137 129 129
Total Noncurrent Liabilities		 922 1,243 1,288 1,304 1,603 1,428 1,413 1,452 1,332 1,383 1,349
Long-Term Debt		 408 707 826 814 910 686 550 428 389 351 312
Noncurrent Deferred & Payable Income Tax Liabilities		 311 364 284 313 338 390 425 647 669 693 702
Other Noncurrent Operating Liabilities		 94 172 178 177 355 353 438 377 273 339 335
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 451 495 677 755 806 961 1,667 2,297 2,401 2,652 2,759
Total Preferred & Common Equity		 451 495 677 755 806 961 1,667 2,297 2,401 2,652 2,759
Total Common Equity		 451 495 677 755 806 961 1,667 2,297 2,401 2,652 2,759
Common Stock		 321 322 322 330 338 354 345 318 319 321 318
Retained Earnings		 177 197 381 460 504 658 1,354 1,986 2,090 2,337 2,439
Accumulated Other Comprehensive Income / (Loss)		 -47 -24 -25 -35 -37 -51 -31 -6.90 -8.20 -6.50 1.60

Quarterly Balance Sheets for Matson

This table presents Matson's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 4,227 4,218 4,293 4,220 4,274 4,442 4,527 4,482 4,602 4,583 4,714
Total Current Assets		 567 578 636 512 546 652 468 425 447 436 536
Cash & Equivalents		 89 122 157 26 168 270 122 59 93 100 119
Accounts Receivable		 283 285 305 303 308 311 271 289 278 258 335
Prepaid Expenses		 195 171 174 183 70 70 75 76 76 78 81
Plant, Property, & Equipment, net		 1,967 2,029 2,059 2,116 2,151 2,191 2,314 2,360 2,408 2,511 2,680
Total Noncurrent Assets		 1,694 1,611 1,599 1,592 1,577 1,600 1,745 1,698 1,747 1,636 1,497
Long-Term Investments		 82 80 81 85 86 93 91 98 107 102 106
Goodwill		 328 328 328 328 328 328 328 328 328 328 328
Intangible Assets		 188 184 181 173 169 164 156 153 150 144 140
Other Noncurrent Operating Assets		 1,096 1,019 1,009 1,007 746 762 1,170 1,119 1,162 1,063 923
Total Liabilities & Shareholders' Equity		 4,227 4,218 4,293 4,220 4,274 4,442 4,527 4,482 4,602 4,583 4,714
Total Liabilities		 1,957 1,928 1,903 1,846 1,875 1,886 1,894 1,864 1,913 1,853 1,940
Total Current Liabilities		 536 549 571 531 585 578 546 547 541 530 604
Short-Term Debt		 46 42 40 40 40 40 40 40 40 40 40
Accounts Payable		 268 271 294 278 291 294 274 282 282 254 298
Accrued Expenses		 87 109 109 82 131 137 114 116 102 111 133
Other Current Liabilities		 134 127 128 132 123 107 119 109 117 125 133
Total Noncurrent Liabilities		 1,421 1,379 1,332 1,316 1,291 1,308 1,347 1,317 1,372 1,323 1,337
Long-Term Debt		 418 409 399 379 370 360 341 332 322 302 293
Noncurrent Deferred & Payable Income Tax Liabilities		 646 644 639 675 680 693 694 694 704 703 704
Other Noncurrent Operating Liabilities		 358 327 294 261 111 105 313 292 347 318 340
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 2,270 2,290 2,390 2,374 2,399 2,557 2,633 2,618 2,689 2,730 2,773
Total Preferred & Common Equity		 2,270 2,290 2,390 2,374 2,399 2,557 2,633 2,618 2,689 2,730 2,773
Total Common Equity		 2,270 2,290 2,390 2,374 2,399 2,557 2,633 2,618 2,689 2,730 2,773
Common Stock		 307 309 315 306 310 315 309 312 315 297 302
Retained Earnings		 1,970 1,989 2,084 2,078 2,099 2,251 2,331 2,313 2,383 2,432 2,472
Accumulated Other Comprehensive Income / (Loss)		 -6.30 -7.90 -9.30 -9.80 -10 -10 -6.80 -6.30 -8.60 1.10 -1.30

Annual Metrics And Ratios for Matson

This table displays calculated financial ratios and metrics derived from Matson's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 - - - - - - - - - - 31,180,035.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 31,180,035.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 14.27
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 9.96% 3.01% 5.42% 8.59% -0.89% 8.18% 64.70% 10.64% -28.75% 10.57% -2.26%
EBITDA Growth		 31.20% -4.03% 2.13% 0.47% 9.22% 53.88% 190.78% 15.22% -60.77% 32.47% -3.99%
EBIT Growth		 40.21% -21.24% -3.36% 11.38% -21.69% 119.80% 316.86% 14.09% -74.36% 59.97% -8.90%
NOPAT Growth		 40.77% -14.05% 178.05% -55.52% -18.07% 111.00% 349.91% 13.26% -74.36% 60.48% -4.95%
Net Income Growth		 45.48% -20.97% 183.78% -52.81% -24.13% 133.49% 380.27% 14.72% -72.07% 60.35% -6.63%
EPS Growth		 43.56% -20.09% 186.10% -52.71% -24.51% 132.46% 383.56% 26.08% -69.26% 67.43% -0.86%
Operating Cash Flow Growth		 48.04% -35.67% 42.52% 35.62% -18.43% 72.75% 128.97% 29.25% -59.86% 50.40% -28.74%
Free Cash Flow Firm Growth		 -292.51% 14.94% 95.21% 408.38% -268.71% 472.09% 175.85% -16.62% -75.10% 167.55% -34.03%
Invested Capital Growth		 107.75% 44.24% 24.95% 5.90% 10.74% -1.43% 18.14% 27.28% 5.65% 3.12% 6.73%
Revenue Q/Q Growth		 2.80% 1.28% -0.16% 2.24% -1.09% 7.17% 16.88% -9.68% -0.41% 3.05% -1.14%
EBITDA Q/Q Growth		 1.61% -0.99% -3.70% 0.68% 1.50% 27.86% 33.93% -18.22% -3.57% 8.97% 0.54%
EBIT Q/Q Growth		 -1.75% -5.33% -7.66% 3.68% -4.05% 48.55% 42.81% -21.92% -4.88% 14.89% -0.66%
NOPAT Q/Q Growth		 -0.64% -4.10% 168.04% -57.70% -3.56% 48.72% 48.99% -23.29% -6.23% 16.99% 4.12%
Net Income Q/Q Growth		 -1.15% -7.50% 171.45% -57.14% -5.70% 56.86% 49.94% -22.93% -4.99% 15.97% 3.51%
EPS Q/Q Growth		 -1.27% -7.43% 174.36% -57.19% -5.91% 56.89% 51.30% -20.03% -8.17% 16.47% 5.99%
Operating Cash Flow Q/Q Growth		 7.31% -9.21% 3.50% 8.58% -11.90% 26.71% 32.57% -15.39% -10.20% 8.99% 0.40%
Free Cash Flow Firm Q/Q Growth		 -16.19% 2.87% -133.97% 225.91% -169.59% 183.48% 61.08% -30.02% -28.92% 60.83% -19.64%
Invested Capital Q/Q Growth		 -3.70% -3.55% 14.12% -3.56% 5.93% 0.68% 4.12% -0.67% 0.75% -1.89% 0.78%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 19.88% 16.69% 15.92% 15.65% 14.76% 20.10% 34.84% 35.26% 20.16% 25.01% 22.77%
EBITDA Margin		 16.06% 14.97% 14.50% 13.42% 14.78% 21.03% 37.13% 38.66% 21.29% 25.50% 25.05%
Operating Margin		 10.41% 8.07% 7.20% 7.37% 5.86% 11.76% 30.25% 31.17% 11.08% 16.11% 14.94%
EBIT Margin		 10.41% 7.96% 7.30% 7.49% 5.91% 12.02% 30.42% 31.36% 11.28% 16.32% 15.22%
Profit (Net Income) Margin		 5.46% 4.19% 11.29% 4.90% 3.75% 8.10% 23.63% 24.50% 9.60% 13.92% 13.30%
Tax Burden Percent		 57.93% 62.38% 184.50% 73.80% 76.72% 74.56% 79.18% 78.67% 79.65% 79.48% 83.33%
Interest Burden Percent		 90.58% 84.41% 83.80% 88.76% 82.73% 90.43% 98.11% 99.28% 106.82% 107.30% 104.89%
Effective Tax Rate		 42.07% 37.62% -84.50% 26.20% 23.28% 25.44% 20.82% 21.33% 20.35% 20.52% 16.67%
Return on Invested Capital (ROIC)		 19.47% 10.15% 21.24% 8.26% 6.25% 12.63% 52.47% 48.28% 10.75% 16.53% 14.97%
ROIC Less NNEP Spread (ROIC-NNEP)		 13.41% 6.82% 15.36% 6.67% 4.22% 10.57% 49.78% 47.82% 23.31% 47.22% 51.93%
Return on Net Nonoperating Assets (RNNOA)		 5.83% 7.07% 18.17% 6.96% 4.35% 9.23% 18.09% 5.39% 1.90% 2.33% 1.47%
Return on Equity (ROE)		 25.29% 17.22% 39.42% 15.22% 10.60% 21.86% 70.56% 53.67% 12.65% 18.86% 16.44%
Cash Return on Invested Capital (CROIC)		 -50.55% -26.08% -0.94% 2.53% -3.94% 14.07% 35.83% 24.27% 5.25% 13.46% 8.46%
Operating Return on Assets (OROA)		 12.78% 8.39% 7.00% 7.11% 4.94% 9.97% 36.21% 33.95% 8.10% 12.57% 11.03%
Return on Assets (ROA)		 6.71% 4.42% 10.83% 4.66% 3.14% 6.72% 28.13% 26.52% 6.89% 10.72% 9.64%
Return on Common Equity (ROCE)		 25.29% 17.22% 39.42% 15.22% 10.60% 21.86% 70.56% 53.67% 12.65% 18.86% 16.44%
Return on Equity Simple (ROE_SIMPLE)		 22.86% 16.45% 34.11% 14.43% 10.26% 20.09% 55.62% 46.32% 12.38% 17.96% 0.00%
Net Operating Profit after Tax (NOPAT)		 114 98 272 121 99 209 940 1,065 273 438 416
NOPAT Margin		 6.03% 5.03% 13.28% 5.44% 4.50% 8.77% 23.95% 24.52% 8.82% 12.81% 12.45%
Net Nonoperating Expense Percent (NNEP)		 6.06% 3.33% 5.88% 1.59% 2.03% 2.06% 2.69% 0.46% -12.56% -30.69% -36.96%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 38.01% 9.65% 14.40% 13.39%
Cost of Revenue to Revenue		 80.12% 83.31% 84.08% 84.35% 85.24% 79.90% 65.16% 64.74% 79.84% 74.99% 77.23%
SG&A Expenses to Revenue		 10.35% 9.43% 10.10% 9.93% 9.84% 9.44% 6.03% 6.01% 9.15% 8.87% 8.79%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 9.47% 8.62% 8.73% 8.28% 8.90% 8.34% 4.59% 4.10% 9.08% 8.90% 7.82%
Earnings before Interest and Taxes (EBIT)		 196 155 149 166 130 286 1,194 1,362 349 559 509
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 303 291 297 298 326 501 1,457 1,679 659 873 838
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 3.48 2.64 1.65 1.64 2.01 2.42 2.18 1.00 1.57 1.68 1.39
Price to Tangible Book Value (P/TBV)		 22.44 0.00 9.01 5.79 5.88 5.27 3.14 1.28 1.99 2.06 1.68
Price to Revenue (P/Rev)		 0.83 0.67 0.55 0.56 0.73 0.98 0.93 0.53 1.22 1.31 1.15
Price to Earnings (P/E)		 15.23 16.05 4.85 11.34 19.56 12.04 3.92 2.16 12.72 9.38 8.64
Dividend Yield		 1.94% 2.43% 2.96% 2.83% 2.28% 1.67% 1.22% 2.01% 1.16% 0.98% 1.14%
Earnings Yield		 6.57% 6.23% 20.63% 8.81% 5.11% 8.30% 25.49% 46.37% 7.86% 10.67% 11.57%
Enterprise Value to Invested Capital (EV/IC)		 2.42 1.71 1.31 1.32 1.49 1.83 2.02 1.00 1.53 1.67 1.38
Enterprise Value to Revenue (EV/Rev)		 1.01 1.00 0.91 0.89 1.13 1.26 1.00 0.57 1.29 1.32 1.18
Enterprise Value to EBITDA (EV/EBITDA)		 6.30 6.71 6.28 6.66 7.61 6.00 2.68 1.47 6.06 5.16 4.72
Enterprise Value to EBIT (EV/EBIT)		 9.71 12.61 12.47 11.94 19.02 10.50 3.28 1.81 11.43 8.07 7.78
Enterprise Value to NOPAT (EV/NOPAT)		 16.77 19.94 6.86 16.43 25.03 14.39 4.16 2.32 14.61 10.28 9.50
Enterprise Value to Operating Cash Flow (EV/OCF)		 7.77 12.35 8.29 6.51 9.96 7.00 3.98 1.94 7.82 5.87 7.23
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 53.57 0.00 12.92 6.09 4.61 29.92 12.63 16.81
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.95 1.49 1.27 1.13 1.19 0.77 0.37 0.22 0.18 0.15 0.13
Long-Term Debt to Equity		 0.91 1.43 1.22 1.08 1.13 0.71 0.33 0.19 0.16 0.13 0.11
Financial Leverage		 0.43 1.04 1.18 1.04 1.03 0.87 0.36 0.11 0.08 0.05 0.03
Leverage Ratio		 3.77 3.90 3.64 3.27 3.38 3.25 2.51 2.02 1.84 1.76 1.71
Compound Leverage Factor		 3.42 3.29 3.05 2.90 2.80 2.94 2.46 2.01 1.96 1.89 1.79
Debt to Total Capital		 48.82% 59.89% 55.86% 53.14% 54.33% 43.66% 26.94% 18.01% 15.16% 12.83% 11.31%
Short-Term Debt to Total Capital		 2.50% 2.58% 2.01% 2.61% 2.74% 3.47% 2.85% 2.75% 1.40% 1.30% 1.28%
Long-Term Debt to Total Capital		 46.33% 57.31% 53.86% 50.52% 51.58% 40.19% 24.09% 15.27% 13.76% 11.53% 10.03%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 51.18% 40.11% 44.14% 46.86% 45.67% 56.34% 73.06% 81.99% 84.84% 87.17% 88.69%
Debt to EBITDA		 1.42 2.54 2.89 2.87 2.94 1.49 0.42 0.30 0.65 0.45 0.42
Net Debt to EBITDA		 1.12 2.21 2.51 2.51 2.64 1.36 0.19 0.10 0.32 0.05 0.14
Long-Term Debt to EBITDA		 1.35 2.43 2.78 2.73 2.79 1.37 0.38 0.25 0.59 0.40 0.37
Debt to NOPAT		 3.78 7.56 3.15 7.08 9.68 3.56 0.65 0.47 1.57 0.89 0.84
Net Debt to NOPAT		 2.97 6.57 2.74 6.20 8.69 3.26 0.29 0.16 0.77 0.09 0.27
Long-Term Debt to NOPAT		 3.59 7.23 3.04 6.74 9.19 3.28 0.58 0.40 1.43 0.80 0.75
Altman Z-Score		 2.42 1.87 1.78 1.82 1.59 2.10 3.75 3.41 2.88 3.25 3.04
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.93 0.99 0.93 0.86 0.66 0.60 1.15 1.31 1.07 1.09 0.89
Quick Ratio		 0.73 0.73 0.75 0.66 0.52 0.52 1.02 0.89 0.74 0.96 0.76
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -295 -251 -12 37 -63 233 642 535 133 357 235
Operating Cash Flow to CapEx		 527.53% 185.87% 407.43% 0.00% 283.37% 481.84% 319.00% 872.96% 262.74% 368.07% 390.79%
Free Cash Flow to Firm to Interest Expense		 -15.96 -10.42 -0.50 1.98 -2.78 8.50 28.41 29.75 10.93 47.57 34.61
Operating Cash Flow to Interest Expense		 13.26 6.55 9.29 16.31 11.06 15.69 43.54 70.66 41.84 102.37 80.46
Operating Cash Flow Less CapEx to Interest Expense		 10.75 3.02 7.01 20.25 7.16 12.43 29.89 62.57 25.92 74.56 59.87
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.23 1.05 0.96 0.95 0.84 0.83 1.19 1.08 0.72 0.77 0.72
Accounts Receivable Turnover		 9.66 10.16 10.66 10.63 10.26 10.38 13.15 14.19 11.30 12.48 12.72
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 2.43 2.15 1.94 1.76 1.49 1.45 2.20 2.26 1.53 1.57 1.41
Accounts Payable Turnover		 10.13 9.65 9.96 8.89 7.78 7.34 8.65 9.97 9.26 9.39 10.06
Days Sales Outstanding (DSO)		 37.80 35.93 34.25 34.34 35.59 35.17 27.76 25.73 32.31 29.24 28.69
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 36.03 37.84 36.65 41.06 46.89 49.72 42.21 36.61 39.41 38.86 36.27
Cash Conversion Cycle (CCC)		 1.77 -1.91 -2.40 -6.72 -11.30 -14.55 -14.45 -10.88 -7.10 -9.62 -7.59
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 789 1,138 1,421 1,505 1,667 1,643 1,941 2,471 2,610 2,692 2,873
Invested Capital Turnover		 3.23 2.02 1.60 1.52 1.39 1.44 2.19 1.97 1.22 1.29 1.20
Increase / (Decrease) in Invested Capital		 409 349 284 84 162 -24 298 530 140 81 181
Enterprise Value (EV)		 1,907 1,949 1,864 1,986 2,479 3,007 3,912 2,468 3,990 4,506 3,957
Market Capitalization		 1,569 1,306 1,120 1,237 1,618 2,325 3,638 2,294 3,780 4,467 3,844
Book Value per Share		 $10.35 $11.55 $15.95 $17.69 $18.80 $22.31 $39.67 $60.80 $68.72 $79.86 $88.49
Tangible Book Value per Share		 $1.61 ($1.53) $2.93 $5.00 $6.42 $10.25 $27.56 $47.49 $54.29 $65.18 $73.27
Total Capital		 881 1,234 1,534 1,612 1,764 1,706 2,282 2,802 2,830 3,043 3,111
Total Debt		 430 739 857 856 958 745 615 505 429 391 352
Total Long-Term Debt		 408 707 826 814 910 686 550 428 389 351 312
Net Debt		 338 643 744 750 861 682 274 174 210 40 114
Capital Expenditures (CapEx)		 47 85 55 -74 88 89 309 146 194 209 140
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -23 15 -9.30 -30 -120 -161 -125 5.10 -54 -178 -158
Debt-free Net Working Capital (DFNWC)		 2.30 28 11 -10 -99 -146 157 255 80 89 -16
Net Working Capital (NWC)		 -20 -3.40 -20 -52 -147 -206 92 178 40 49 -56
Net Nonoperating Expense (NNE)		 11 16 41 12 16 16 13 1.02 -24 -38 -28
Net Nonoperating Obligations (NNO)		 338 643 744 750 861 682 274 174 210 40 114
Total Depreciation and Amortization (D&A)		 107 136 147 132 195 215 264 317 310 314 329
Debt-free, Cash-free Net Working Capital to Revenue		 -1.23% 0.75% -0.45% -1.35% -5.44% -6.75% -3.19% 0.12% -1.75% -5.20% -4.72%
Debt-free Net Working Capital to Revenue		 0.12% 1.46% 0.51% -0.46% -4.48% -6.14% 4.00% 5.87% 2.58% 2.60% -0.47%
Net Working Capital to Revenue		 -1.05% -0.18% -0.99% -2.36% -6.68% -8.63% 2.35% 4.10% 1.29% 1.44% -1.66%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $2.37 $1.87 $5.41 $0.00 $0.00 $0.00 $21.67 $27.28 $8.42 $14.14 $13.99
Adjusted Weighted Average Basic Shares Outstanding		 43.50M 43.10M 42.90M 0.00 0.00 0.00 42.80M 39M 35.30M 33.70M 31.80M
Adjusted Diluted Earnings per Share		 $2.34 $1.85 $5.37 $0.00 $0.00 $0.00 $21.47 $27.07 $8.32 $13.93 $13.81
Adjusted Weighted Average Diluted Shares Outstanding		 44M 43.50M 43.20M 0.00 0.00 0.00 43.20M 39.30M 35.70M 34.20M 32.20M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 43.44M 43.12M 42.65M 0.00 0.00 0.00 40.88M 36.11M 34.50M 32.86M 30.44M
Normalized Net Operating Profit after Tax (NOPAT)		 114 98 103 121 99 209 940 1,065 273 438 416
Normalized NOPAT Margin		 6.03% 5.03% 5.04% 5.44% 4.50% 8.77% 23.95% 24.52% 8.82% 12.81% 12.45%
Pre Tax Income Margin		 9.43% 6.72% 6.12% 6.64% 4.89% 10.87% 29.84% 31.14% 12.05% 17.52% 15.96%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 10.61 6.41 6.17 8.90 5.79 10.45 52.83 75.67 28.62 74.48 74.84
NOPAT to Interest Expense		 6.15 4.06 11.23 6.46 4.40 7.63 41.60 59.16 22.38 58.42 61.25
EBIT Less CapEx to Interest Expense		 8.10 2.89 3.89 12.84 1.89 7.20 39.18 67.58 12.70 46.67 54.25
NOPAT Less CapEx to Interest Expense		 3.63 0.53 8.95 10.41 0.50 4.37 27.95 51.07 6.45 30.61 40.66
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 29.90% 39.56% 14.63% 32.48% 44.98% 20.30% 4.95% 4.51% 15.15% 9.40% 10.09%
Augmented Payout Ratio		 34.66% 86.24% 22.99% 32.48% 44.98% 20.30% 26.33% 41.83% 67.38% 51.20% 78.28%

Quarterly Metrics And Ratios for Matson

This table displays calculated financial ratios and metrics derived from Matson's official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - - - - - 31,180,035.00 30,263,281.00 29,903,458.00
DEI Adjusted Shares Outstanding		 - - - - - - - - 31,180,035.00 30,263,281.00 29,903,458.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - 4.59 1.87 4.33
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -1.58% 2.45% 9.57% 16.25% 12.85% 8.30% -1.99% -8.51% -4.31% -3.09% 16.72%
EBITDA Growth		 -12.83% -4.18% 16.49% 55.67% 48.84% 42.54% -4.76% -24.46% 1.98% -11.55% 25.56%
EBIT Growth		 -18.88% -4.44% 28.32% 83.20% 94.15% 118.35% -8.70% -33.21% -2.28% -24.97% 39.08%
NOPAT Growth		 -24.37% -1.22% 31.57% 68.92% 114.11% 118.94% -10.79% -32.72% 14.11% -20.50% 42.67%
Net Income Growth		 -20.00% 6.18% 40.10% 66.06% 105.13% 100.28% -16.34% -32.35% 11.80% -21.72% 36.64%
EPS Growth		 -30.08% 10.64% 46.46% 73.24% 114.53% 109.62% -11.78% -28.01% 21.14% -15.14% 46.23%
Operating Cash Flow Growth		 -34.24% -62.15% 105.54% 62.91% 56.82% 143.17% -65.70% -29.36% 1.26% 5.62% 30.30%
Free Cash Flow Firm Growth		 81.58% 82.73% 89.43% 306.82% 145.19% 37.86% -26.00% -44.14% -218.38% 66.28% 229.25%
Invested Capital Growth		 5.65% 4.57% 5.75% 5.89% 3.12% 4.44% 5.50% 3.90% 6.73% 2.49% 1.70%
Revenue Q/Q Growth		 -4.66% -8.47% 17.35% 13.52% -7.45% -12.16% 6.20% 5.97% -3.20% -11.05% 27.92%
EBITDA Q/Q Growth		 -27.16% -23.88% 76.32% 56.96% -30.36% -26.30% 17.93% 24.64% -5.32% -36.45% 67.42%
EBIT Q/Q Growth		 -42.31% -49.67% 226.62% 93.20% -38.86% -43.40% 36.57% 41.33% -10.55% -56.55% 153.15%
NOPAT Q/Q Growth		 -50.66% -47.24% 235.19% 93.61% -37.46% -46.05% 36.58% 46.02% 6.06% -62.42% 145.11%
Net Income Q/Q Growth		 -47.96% -42.15% 213.57% 75.88% -35.71% -43.52% 30.98% 42.24% 6.24% -60.45% 128.62%
EPS Q/Q Growth		 -49.41% -39.53% 218.27% 77.95% -37.35% -40.92% 33.95% 45.21% 5.42% -58.61% 130.81%
Operating Cash Flow Q/Q Growth		 -27.00% -67.15% 741.26% -19.26% -29.73% -49.06% 18.65% 66.29% 0.74% -46.86% 46.38%
Free Cash Flow Firm Q/Q Growth		 -995.80% 63.87% 46.03% 180.39% -0.49% -243.95% -9.43% 135.64% -310.89% 59.00% 519.43%
Invested Capital Q/Q Growth		 0.75% -3.17% 0.09% 2.21% -1.89% 4.06% 1.11% 0.66% 0.78% -0.08% 0.33%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 18.32% 15.22% 23.66% 31.99% 26.71% 19.30% 21.69% 24.88% 24.82% 17.67% 23.94%
EBITDA Margin		 19.20% 16.20% 24.35% 33.66% 25.33% 21.25% 23.60% 27.76% 27.15% 19.40% 25.39%
Operating Margin		 9.54% 5.11% 14.70% 25.19% 16.57% 10.50% 13.61% 18.29% 16.87% 8.10% 16.39%
EBIT Margin		 9.75% 5.36% 14.92% 25.38% 16.77% 10.81% 13.90% 18.53% 17.13% 8.37% 16.56%
Profit (Net Income) Margin		 7.91% 5.00% 13.36% 20.70% 14.38% 9.25% 11.40% 15.31% 16.80% 7.47% 13.35%
Tax Burden Percent		 74.02% 79.69% 79.11% 78.76% 80.91% 78.42% 77.81% 79.75% 94.77% 83.36% 78.95%
Interest Burden Percent		 109.62% 117.05% 113.21% 103.52% 105.96% 109.11% 105.46% 103.56% 103.50% 107.10% 102.12%
Effective Tax Rate		 25.98% 20.31% 20.89% 21.24% 19.09% 21.58% 22.19% 20.25% 5.23% 16.64% 21.05%
Return on Invested Capital (ROIC)		 8.61% 4.83% 14.19% 24.70% 17.30% 10.46% 13.30% 17.65% 19.22% 7.91% 15.68%
ROIC Less NNEP Spread (ROIC-NNEP)		 12.08% 7.05% 19.68% 28.97% 24.25% 13.79% 16.01% 21.26% 28.24% 11.43% 18.14%
Return on Net Nonoperating Assets (RNNOA)		 0.99% 0.91% 2.24% 2.27% 1.20% 1.31% 1.59% 1.41% 0.80% 0.66% 1.08%
Return on Equity (ROE)		 9.59% 5.75% 16.43% 26.96% 18.50% 11.77% 14.90% 19.06% 20.02% 8.56% 16.75%
Cash Return on Invested Capital (CROIC)		 5.25% 5.93% 5.75% 8.32% 13.46% 12.92% 11.41% 10.47% 8.46% 11.78% 13.77%
Operating Return on Assets (OROA)		 7.00% 3.95% 11.19% 19.30% 12.91% 8.60% 11.00% 13.86% 12.41% 6.10% 12.46%
Return on Assets (ROA)		 5.68% 3.68% 10.02% 15.73% 11.07% 7.36% 9.02% 11.45% 12.17% 5.44% 10.04%
Return on Common Equity (ROCE)		 9.59% 5.75% 16.43% 26.96% 18.50% 11.77% 14.90% 19.06% 20.02% 8.56% 16.75%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 12.60% 13.83% 16.07% 0.00% 19.47% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 56 29 99 191 119 64 88 128 136 51 125
NOPAT Margin		 7.07% 4.07% 11.63% 19.84% 13.40% 8.23% 10.59% 14.59% 15.99% 6.75% 12.94%
Net Nonoperating Expense Percent (NNEP)		 -3.48% -2.22% -5.48% -4.27% -6.95% -3.33% -2.71% -3.62% -9.03% -3.52% -2.46%
Return On Investment Capital (ROIC_SIMPLE)		 1.97% - - - 3.92% 2.14% 2.94% 4.21% 4.38% 1.67% 4.04%
Cost of Revenue to Revenue		 81.68% 84.78% 76.34% 68.01% 73.29% 80.70% 78.31% 75.12% 75.18% 82.33% 76.06%
SG&A Expenses to Revenue		 9.29% 10.16% 9.10% 7.52% 9.08% 9.64% 8.96% 7.65% 9.04% 10.23% 8.05%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 8.77% 10.11% 8.96% 6.80% 10.14% 8.80% 8.08% 6.59% 7.95% 9.57% 7.55%
Earnings before Interest and Taxes (EBIT)		 77 39 126 244 149 85 115 163 146 63 161
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 152 117 206 324 226 166 196 244 231 147 246
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.57 1.65 1.86 1.87 1.68 1.60 1.39 1.17 1.39 1.83 2.10
Price to Tangible Book Value (P/TBV)		 1.99 2.08 2.35 2.32 2.06 1.96 1.70 1.42 1.68 2.21 2.52
Price to Revenue (P/Rev)		 1.22 1.26 1.40 1.44 1.31 1.21 1.05 0.93 1.15 1.50 1.68
Price to Earnings (P/E)		 12.72 13.05 13.46 11.66 9.38 8.22 7.36 7.29 8.64 11.63 12.54
Dividend Yield		 1.16% 1.14% 0.98% 0.91% 0.98% 1.05% 1.22% 1.40% 1.14% 0.87% 0.75%
Earnings Yield		 7.86% 7.66% 7.43% 8.58% 10.67% 12.17% 13.59% 13.71% 11.57% 8.60% 7.97%
Enterprise Value to Invested Capital (EV/IC)		 1.53 1.57 1.77 1.81 1.67 1.56 1.36 1.16 1.38 1.79 2.06
Enterprise Value to Revenue (EV/Rev)		 1.29 1.35 1.49 1.50 1.32 1.26 1.11 0.97 1.18 1.55 1.71
Enterprise Value to EBITDA (EV/EBITDA)		 6.06 6.42 6.93 6.21 5.16 4.75 4.22 3.95 4.72 6.27 6.82
Enterprise Value to EBIT (EV/EBIT)		 11.43 12.13 12.65 10.23 8.07 7.25 6.49 6.43 7.78 10.52 11.12
Enterprise Value to NOPAT (EV/NOPAT)		 14.61 15.45 16.03 13.29 10.28 9.26 8.32 8.24 9.50 12.72 13.42
Enterprise Value to Operating Cash Flow (EV/OCF)		 7.82 9.35 7.80 7.06 5.87 5.34 6.23 6.05 7.23 9.29 10.14
Enterprise Value to Free Cash Flow (EV/FCFF)		 29.92 27.11 31.61 22.43 12.63 12.37 12.23 11.25 16.81 15.37 15.07
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.18 0.18 0.23 0.22 0.15 0.14 0.14 0.13 0.13 0.13 0.12
Long-Term Debt to Equity		 0.16 0.16 0.21 0.20 0.13 0.13 0.13 0.12 0.11 0.11 0.11
Financial Leverage		 0.08 0.13 0.11 0.08 0.05 0.10 0.10 0.07 0.03 0.06 0.06
Leverage Ratio		 1.84 1.82 1.81 1.77 1.76 1.75 1.75 1.72 1.71 1.70 1.71
Compound Leverage Factor		 2.01 2.13 2.05 1.83 1.86 1.91 1.84 1.79 1.77 1.82 1.74
Debt to Total Capital		 15.16% 15.01% 18.38% 17.71% 12.83% 12.63% 12.42% 11.84% 11.31% 11.13% 10.70%
Short-Term Debt to Total Capital		 1.40% 1.42% 1.35% 1.28% 1.30% 1.32% 1.33% 1.30% 1.28% 1.29% 1.28%
Long-Term Debt to Total Capital		 13.76% 13.58% 17.03% 16.44% 11.53% 11.31% 11.09% 10.54% 10.03% 9.84% 9.43%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 84.84% 84.99% 81.62% 82.29% 87.17% 87.37% 87.58% 88.16% 88.69% 88.87% 89.30%
Debt to EBITDA		 0.65 0.64 0.79 0.69 0.45 0.41 0.41 0.43 0.42 0.42 0.38
Net Debt to EBITDA		 0.32 0.47 0.42 0.23 0.05 0.18 0.23 0.19 0.14 0.17 0.12
Long-Term Debt to EBITDA		 0.59 0.58 0.73 0.64 0.40 0.37 0.36 0.39 0.37 0.37 0.34
Debt to NOPAT		 1.57 1.54 1.82 1.47 0.89 0.80 0.80 0.90 0.84 0.85 0.75
Net Debt to NOPAT		 0.77 1.13 0.96 0.50 0.09 0.35 0.46 0.40 0.27 0.35 0.24
Long-Term Debt to NOPAT		 1.43 1.39 1.69 1.36 0.80 0.72 0.72 0.80 0.75 0.75 0.66
Altman Z-Score		 2.67 2.72 2.95 3.18 2.96 2.87 2.72 2.54 2.78 3.10 3.36
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.07 0.97 0.93 1.13 1.09 0.86 0.78 0.83 0.89 0.82 0.89
Quick Ratio		 0.74 0.62 0.81 1.01 0.96 0.72 0.64 0.69 0.76 0.68 0.75
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -84 -88 -47 38 38 -55 -60 21 -45 -18 77
Operating Cash Flow to CapEx		 188.81% 70.52% 968.24% 437.68% 256.53% 399.10% 217.28% 384.25% 755.98% 309.21% 541.73%
Free Cash Flow to Firm to Interest Expense		 -34.98 -39.95 -22.59 21.18 27.10 -32.13 -35.16 11.83 -28.07 -11.51 48.28
Operating Cash Flow to Interest Expense		 46.42 16.64 146.62 138.11 124.79 52.35 62.12 97.56 110.56 58.75 86.00
Operating Cash Flow Less CapEx to Interest Expense		 21.83 -6.95 131.48 106.56 76.14 39.24 33.53 72.17 95.94 39.75 70.13
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.72 0.74 0.75 0.76 0.77 0.80 0.79 0.75 0.72 0.73 0.75
Accounts Receivable Turnover		 11.30 10.62 10.75 10.78 12.48 12.14 11.61 11.48 12.72 12.56 11.08
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 1.53 1.52 1.52 1.56 1.57 1.57 1.54 1.47 1.41 1.38 1.37
Accounts Payable Turnover		 9.26 9.11 8.99 8.70 9.39 9.37 9.02 9.00 10.06 9.75 9.18
Days Sales Outstanding (DSO)		 32.31 34.35 33.97 33.87 29.24 30.06 31.45 31.79 28.69 29.05 32.94
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 39.41 40.08 40.61 41.95 38.86 38.94 40.45 40.54 36.27 37.43 39.77
Cash Conversion Cycle (CCC)		 -7.10 -5.73 -6.64 -8.07 -9.62 -8.88 -9.00 -8.76 -7.59 -8.38 -6.83
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 2,610 2,682 2,684 2,744 2,692 2,801 2,832 2,851 2,873 2,870 2,880
Invested Capital Turnover		 1.22 1.19 1.22 1.24 1.29 1.27 1.26 1.21 1.20 1.17 1.21
Increase / (Decrease) in Invested Capital		 140 117 146 153 81 119 148 107 181 70 48
Enterprise Value (EV)		 3,990 4,213 4,749 4,976 4,506 4,380 3,849 3,295 3,957 5,131 5,924
Market Capitalization		 3,780 3,905 4,464 4,789 4,467 4,212 3,635 3,134 3,844 4,990 5,818
Book Value per Share		 $68.72 $69.01 $70.20 $76.14 $79.86 $80.12 $80.20 $84.60 $88.49 $89.69 $91.63
Tangible Book Value per Share		 $54.29 $54.46 $55.65 $61.49 $65.18 $65.39 $65.47 $69.58 $73.27 $74.21 $76.16
Total Capital		 2,830 2,793 2,939 3,107 3,043 3,014 2,989 3,051 3,111 3,072 3,106
Total Debt		 429 419 540 550 391 381 371 361 352 342 332
Total Long-Term Debt		 389 379 501 511 351 341 332 322 312 302 293
Net Debt		 210 308 286 187 40 168 214 161 114 140 107
Capital Expenditures (CapEx)		 59 52 32 57 68 22 49 46 23 30 25
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -54 -4.70 -167 -157 -178 -161 -142 -147 -158 -154 -147
Debt-free Net Working Capital (DFNWC)		 80 21 1.40 114 89 -39 -83 -54 -16 -54 -28
Net Working Capital (NWC)		 40 -19 -38 74 49 -78 -122 -94 -56 -94 -68
Net Nonoperating Expense (NNE)		 -6.66 -6.69 -15 -8.27 -8.66 -7.92 -6.77 -6.30 -6.92 -5.42 -3.95
Net Nonoperating Obligations (NNO)		 210 308 286 187 40 168 214 161 114 140 107
Total Depreciation and Amortization (D&A)		 75 78 80 80 76 82 81 81 85 84 86
Debt-free, Cash-free Net Working Capital to Revenue		 -1.75% -0.15% -5.24% -4.71% -5.20% -4.62% -4.09% -4.33% -4.72% -4.64% -4.26%
Debt-free Net Working Capital to Revenue		 2.58% 0.68% 0.04% 3.43% 2.60% -1.11% -2.39% -1.59% -0.47% -1.62% -0.81%
Net Working Capital to Revenue		 1.29% -0.59% -1.20% 2.23% 1.44% -2.25% -3.53% -2.76% -1.66% -2.82% -1.96%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.78 $1.05 $3.34 $5.98 $3.77 $2.20 $2.95 $4.28 $4.56 $1.86 $4.30
Adjusted Weighted Average Basic Shares Outstanding		 35.30M 34.40M 33.90M 33.30M 33.70M 32.80M 32.10M 31.50M 31.80M 30.40M 30.10M
Adjusted Diluted Earnings per Share		 $1.72 $1.04 $3.31 $5.89 $3.69 $2.18 $2.92 $4.24 $4.47 $1.85 $4.27
Adjusted Weighted Average Diluted Shares Outstanding		 35.70M 34.60M 34.20M 33.80M 34.20M 33.20M 32.40M 31.80M 32.20M 30.60M 30.30M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 34.50M 34.17M 33.58M 33.21M 32.86M 32.64M 31.79M 31.18M 30.44M 30.26M 29.90M
Normalized Net Operating Profit after Tax (NOPAT)		 56 29 99 191 119 64 88 128 136 51 125
Normalized NOPAT Margin		 7.07% 4.07% 11.63% 19.84% 13.40% 8.23% 10.59% 14.59% 15.99% 6.75% 12.94%
Pre Tax Income Margin		 10.69% 6.27% 16.89% 26.28% 17.77% 11.79% 14.65% 19.19% 17.73% 8.96% 16.91%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 32.04 17.59 60.19 135.67 106.64 49.71 67.88 90.61 91.19 39.63 100.31
NOPAT to Interest Expense		 23.22 13.37 46.94 106.02 85.24 37.87 51.72 71.33 85.11 31.99 78.41
EBIT Less CapEx to Interest Expense		 7.46 -6.00 45.05 104.11 58.00 36.59 39.29 65.22 76.56 20.63 84.44
NOPAT Less CapEx to Interest Expense		 -1.36 -10.22 31.79 74.46 36.60 24.75 23.14 45.94 70.49 12.99 62.53
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 15.15% 14.97% 13.48% 10.88% 9.40% 8.78% 9.11% 10.47% 10.09% 10.39% 9.62%
Augmented Payout Ratio		 67.38% 69.28% 71.62% 63.07% 51.20% 51.44% 57.56% 70.40% 78.28% 77.79% 66.26%

Financials Breakdown Chart

Key Financial Trends

Matson’s latest quarter shows a sharp step down from last year’s unusually strong results, but the company remains profitable and cash-generative. In Q1 2026, revenue fell to $757.8 million from $782.0 million in Q1 2025 and well below the elevated levels seen in 2024. Net income also declined to $56.6 million from $72.3 million a year earlier, while EPS slipped to $1.85 from $2.20. Even so, Matson still produced $94.0 million of operating cash flow in the quarter.

Profitability remains solid, but margins are normalizing. Gross margin in Q1 2026 was about 17.7% ($133.9 million gross profit on $757.8 million revenue), down from roughly 19.3% in Q1 2025 and far below the stronger 2024 peak periods. Operating income of $61.4 million also trailed the prior year’s $82.1 million. SG&A was contained at $77.5 million, but the overall revenue decline outweighed cost discipline.

Cash flow remains a clear strength. Q1 2026 operating cash flow of $94.0 million more than covered the quarterly dividend and helped support balance-sheet flexibility. However, the quarter also saw significant cash outflows from $52.8 million in share repurchases, $11.0 million in dividends, and $10.1 million in debt repayment, leading to a $41.8 million decline in cash during the quarter.

The balance sheet looks manageable, though leverage and deferred tax liabilities are meaningful. As of March 31, 2026, Matson had $100.1 million in cash, $529.9 million in current liabilities, and $1.323 billion in noncurrent liabilities. Total debt stood at about $341.9 million combined short-term and long-term, while equity was $2.73 billion. The company also carries a large $702.7 million deferred tax liability, which investors should keep in mind.

Compared with 2024, the business has clearly come off peak conditions. Revenue in Q1 2026 was below Q1 2024’s $722.1 million base? Actually, the better comparison is that 2024 and 2025 included periods of much stronger profitability and cash generation, with Q3/Q4 2024 and Q4 2025 showing substantially higher earnings than the current quarter. The trend suggests Matson is normalizing after a very strong cycle rather than entering distress.

  • Positive: Q1 2026 operating cash flow was strong at $94.0 million.
  • Positive: Matson remained solidly profitable with $56.6 million in net income.
  • Positive: SG&A stayed relatively controlled at $77.5 million.
  • Positive: The company continued returning capital through dividends and buybacks.
  • Positive: Cash and equivalents rose to $100.1 million from $59.1 million in Q2 2025 and $92.7 million in Q3 2025.
  • Neutral: Long-term investments and other noncurrent assets remain a large part of the asset base.
  • Neutral: Depreciation and amortization remain elevated, reflecting a capital-intensive business model.
  • Neutral: Interest income helped offset interest expense in the quarter.
  • Negative: Revenue fell year over year to $757.8 million from $782.0 million.
  • Negative: Net income and EPS declined versus Q1 2025, signaling margin normalization.

Bottom line: Matson still looks financially healthy, but its latest quarter shows that earnings have cooled from recent highs. The key question for investors is whether current profitability represents a new normal or just a temporary pause after a very strong cycle. For now, the company’s cash flow and balance sheet remain supportive, even as growth and margins soften.

08/04/26 06:09 PM ETAI Generated. May Contain Errors.

Matson Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Matson's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Matson's net income appears to be on an upward trend, with a most recent value of $444.80 million in 2025, rising from $103 million in 2015. The previous period was $476.40 million in 2024. See Matson's forecast for analyst expectations on what's next for the company.

Matson's total operating income in 2025 was $499.80 million, based on the following breakdown:
  • Total Gross Profit: $761.40 million
  • Total Operating Expenses: $261.60 million

Over the last 10 years, Matson's total revenue changed from $1.88 billion in 2015 to $3.34 billion in 2025, a change of 77.4%.

Matson's total liabilities were at $1.88 billion at the end of 2025, a 3.4% decrease from 2024, and a 53.9% increase since 2015.

In the past 10 years, Matson's cash and equivalents has ranged from $13.90 million in 2016 to $282.40 million in 2021, and is currently $141.90 million as of their latest financial filing in 2025.

Over the last 10 years, Matson's book value per share changed from 10.35 in 2015 to 88.49 in 2025, a change of 755.3%.


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Financial statements for NYSE:MATX last updated on 8/4/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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