Matson Inc (MATX)
NYSE:MATX
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Matson
(NYSE:MATX)
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Rating:76Outperform
Price Target:
$171.00
▲(7.72% Upside)
Action:ReiteratedDate:02/25/26
The score is driven primarily by strong financial footing (low leverage, solid equity base) and robust cash generation, complemented by favorable technical momentum. Valuation is supportive at a mid-teens P/E, while the earnings outlook is steady but tempered by near-term weakness signals, China volume softness, and some one-time benefit in Q4 results.
Positive Factors
Balance Sheet Strength
Matson’s debt-to-equity falling to ~0.13 with steady equity growth and a ~16% ROE provides durable financial flexibility. Lower leverage reduces interest-rate and refinancing risk, supports multi-year vessel capex and buybacks, and preserves balance-sheet capacity through shipping cycles.
Negative Factors
China Volume Weakness
Sustained declines in China-origin volume hit Matson’s core transpacific ocean revenue and vessel utilization. Prolonged weakness reduces pricing leverage and capacity utilization, making recovery in ocean operating income dependent on broader trade recovery rather than company-level fixes.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance Sheet Strength
Matson’s debt-to-equity falling to ~0.13 with steady equity growth and a ~16% ROE provides durable financial flexibility. Lower leverage reduces interest-rate and refinancing risk, supports multi-year vessel capex and buybacks, and preserves balance-sheet capacity through shipping cycles.
Read all positive factors
Matson (MATX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.21B
Dividend Yield1.13%
Average Volume (3M)301.65K
Price to Earnings (P/E)8.6
Beta (1Y)1.01
Revenue Growth1.88%
EPS Growth9.30%
CountryUS
Employees4,356
SectorIndustrials
Sector Strength72
IndustryMarine Shipping
Share Statistics
EPS (TTM)4.60
Shares Outstanding30,419,310
10 Day Avg. Volume219,807
30 Day Avg. Volume301,646
Financial Highlights & Ratios
PEG Ratio-12.10
Price to Book (P/B)1.38
Price to Sales (P/S)1.14
P/FCF Ratio24.76
Enterprise Value/Market Cap1.14
Enterprise Value/Revenue1.77
Enterprise Value/Gross Profit7.78
Enterprise Value/Ebitda7.16
Forecast
1Y Price Target
$213.00Price Target Upside34.17% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)13.33
Revenue Forecast (FY)$3.43B
Matson Business Overview & Revenue Model
Company Description
Matson, Inc., together with its subsidiaries, provides ocean transportation and logistics services. The company's Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska,...
How the Company Makes Money
Matson generates revenue primarily from two reportable segments: Ocean Transportation and Logistics. (1) Ocean Transportation: The company earns freight revenue by transporting containerized and roll-on/roll-off cargo (and, in certain markets, veh...
Matson Key Performance Indicators (KPIs)
Any
Operating Income by Segment
Measures profit contribution from each segment, indicating where Matson earns the most margin, where costs or inefficiencies are a concern, and which parts of the business support cash flow for reinvestment, dividends, or debt repayment.
Measures profit contribution from each segment, indicating where Matson earns the most margin, where costs or inefficiencies are a concern, and which parts of the business support cash flow for reinvestment, dividends, or debt repayment.
Data provided by:
The Fly
The FlyMatson Earnings Call Summary
Earnings Call Date:Feb 24, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 05, 2026
Earnings Call Sentiment Positive
The call presented a mix of near-term challenges (notably full-year 2025 operating income decline, China volume weakness, and softness in Logistics) alongside several meaningful positives: a stronger-than-expected Q4 driven by higher China freight rates and volumes, a material SSAT JV turnaround (benefiting from a prior-year impairment), robust cash flow generation ($547.1M TTM), substantial shareholder returns (>$300M share repurchases in 2025 and continued buyback commitment), declining net debt, and a clear plan to invest in vessels and equipment while maintaining a solid funding position (CCF ~92% of milestones). Management provided a constructive 2026 outlook to approach 2025 operating income and signaled confidence in a more stable Transpacific environment and normalized seasonality, although Q1 2026 is expected to be weaker. Overall, the positives (strong cash generation, capital returns, liquidity and a path to stable 2026 results) modestly outweigh the negatives tied to 2025 volume and operating income pressures.Positive Updates
Q4 Consolidated Results Exceeded Expectations
Consolidated fourth-quarter operating income was $143.7 million, exceeding company expectations; Q4 net income was $143.1 million and diluted EPS was $4.60, supported by a one-time tax adjustment.
Negative Updates
Full-Year Operating Income Decline
Consolidated operating income for full-year 2025 decreased $51.5 million year-over-year to $499.8 million, primarily driven by lower Ocean Transportation contributions (China) and a $6.2 million decline in Logistics operating income.
Read all updates
Q4-2025 Updates
Positive
Negative
Q4 Consolidated Results Exceeded Expectations
Consolidated fourth-quarter operating income was $143.7 million, exceeding company expectations; Q4 net income was $143.1 million and diluted EPS was $4.60, supported by a one-time tax adjustment.
Read all positive updates
Company Guidance
Matson guided that full-year 2026 consolidated operating income is expected to approach the $499.8 million achieved in 2025, with Ocean Transportation operating income to approach $455.6 million and Logistics to approach $44.2 million; for Q1 2026 they expect Ocean Transportation operating income of about $50 million and Logistics modestly below the prior-year Q1 level of $8.5 million, so consolidated Q1 will be lower year-over-year. Additional 2026 assumptions include depreciation & amortization of ~ $210 million (including ~ $35 million dry-dock amortization), interest income of ~ $15 million, interest expense of ~ $6 million, other income of ~ $7 million, an effective tax rate of ~ 21%, and dry-docking payments of ~ $45 million. Capital spending guidance is $425 million of new vessel construction expenditures (including capitalized interest/owners’ items), $150–$170 million of maintenance & other CapEx (with 2027–28 expected to revert to $100–$120 million), plus roughly $30 million more-than-normal for containers and chassis; SSAT contribution is expected to be comparable to $32.5 million. On the balance sheet and cash flow, Matson ended the year with ~ $142 million of cash, ~$533 million in the Capital Construction Fund (covering ~92% of remaining milestone payments), total debt of $361.2 million, trailing-12‑month cash flow from operations of $547.1 million, and noted that CFO exceeded maintenance CapEx ($149.1 million), dividends and repurchases ($348.2 million) by ~$49.8 million; they reiterated a return-to-normal seasonality (Q2/Q3 strongest), modestly higher China volume for the full year (Q1 volume down for Lunar New Year), a yield-focused pricing approach (not filling all ships), and continued capital returns (Q4 repurchases ~0.7M shares for $78.1M; 2025 repurchases ~2.7M shares for $307.4M; 13.9M shares repurchased since 2021 for ~$1.3B).Matson Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
84
Very Positive
Cash Flow
78
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 3.34B | 3.42B | 3.09B | 4.34B | 3.93B |
| Gross Profit | 761.40M | 855.90M | 623.90M | 1.53B | 1.37B |
| EBITDA | 879.70M | 916.00M | 690.50M | 1.68B | 1.45B |
| Net Income | 444.80M | 476.40M | 297.10M | 1.06B | 927.40M |
Balance Sheet | |||||
| Total Assets | 4.76B | 4.60B | 4.29B | 4.33B | 3.69B |
| Cash, Cash Equivalents and Short-Term Investments | 141.90M | 266.80M | 134.00M | 249.80M | 282.40M |
| Total Debt | 727.10M | 749.00M | 725.00M | 910.70M | 1.06B |
| Total Liabilities | 2.00B | 1.94B | 1.89B | 2.03B | 2.03B |
| Stockholders Equity | 2.76B | 2.65B | 2.40B | 2.30B | 1.67B |
Cash Flow | |||||
| Free Cash Flow | 153.70M | 457.70M | 262.10M | 1.06B | 658.80M |
| Operating Cash Flow | 547.10M | 767.80M | 510.50M | 1.27B | 984.10M |
| Investing Cash Flow | -265.60M | -336.10M | -338.20M | -729.30M | -323.40M |
| Financing Cash Flow | -404.30M | -301.20M | -289.70M | -576.60M | -392.70M |
Matson Technical Analysis
Positive
158.75
Price Trends
162.27
Positive
143.67
Positive
123.73
Positive
Market Momentum
3.34
Negative
63.40
Neutral
75.54
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MATX, the sentiment is Positive. The current price of 158.75 is below the 20-day moving average (MA) of 161.89, below the 50-day MA of 162.27, and above the 200-day MA of 123.73, indicating a bullish trend. The MACD of 3.34 indicates Negative momentum. The RSI at 63.40 is Neutral, neither overbought nor oversold. The STOCH value of 75.54 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MATX.
Matson Risk Analysis
Matson disclosed 31 risk factors in its most recent earnings report. Matson reported the most risks in the "Production" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Matson Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | $2.09B | 3.51 | 13.56% | 3.64% | 3.82% | -13.73% | |
79 Outperform | $7.53B | 17.31 | 10.54% | ― | 1.59% | 3.35% | |
76 Outperform | $5.21B | 8.56 | 16.63% | 1.13% | 1.88% | 9.30% | |
72 Outperform | $2.08B | 5.21 | 16.86% | 2.94% | -29.82% | -16.77% | |
64 Neutral | $3.18B | 5.34 | 12.06% | 20.35% | 1.63% | -30.30% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | $2.76B | 26.26 | 3.46% | 1.59% | -13.87% | -82.48% |
* Industrials Sector Average
MATX
Matson
171.27
69.98
69.09%
CMRE
Costamare
17.22
10.80
168.27%
DAC
Danaos
115.02
40.51
54.38%
KEX
Kirby
140.38
44.33
46.15%
SBLK
Star Bulk Carriers
24.22
10.39
75.09%
ZIM
ZIM
26.39
13.48
104.34%
Matson Corporate Events
Executive/Board Changes
Matson Announces Upcoming Retirement of Chief Commercial Officer
Neutral
Mar 12, 2026
Matson, Inc., a U.S. shipping and logistics company, operates in ocean transportation and related services, with a focus on commercial cargo operations across key Pacific and domestic trade lanes.On March 9, 2026, Matson announced that Executive V...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.