MATX
Matson, Inc.
Next earnings Jul 29, 2026 · consensus $3.72 EPS, $902M rev
Last earnings -1.6% on 2026-05-04
$203.53
▲ +4.65%$203.53▲ +83.70%
over 1Y
L $87.40H $203.53
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+4.6%
1W+3.6%
1M+8.8%
3M+22.6%
YTD+65.2%
1Y+83.7%
Buy
Conviction
Horizon
Long (>12mo)
12-mo target
$•••
Street · 9 analysts
Strong Buy
Jones Act shipping franchise with protected lanes, debt-light balance sheet and heavy buybacks holding EPS flat at a cheap 13.8x.
Revenue (FY2025) $3.34B · FY2025
The read
The fundamentals carry the rating, but the price is rich (~42% above our fair-value estimate) — a quality-at-a-price call. The case rests on the business, not the entry; patient buyers may wait for a pullback.
Matson operates protected Jones Act ocean-transportation lanes (Hawaii, Alaska, Guam) plus expedited China services and a logistics segment, giving it a structurally defensible niche in U.S. domestic shipping. FY2025 was a normalization year against the pandemic super-cycle: revenue eased 2.3% to $3.34B and net income declined 6.6% to $445M, but that is well off the unsustainable 2022 peak ($4.34B revenue, $1.06B net income) and roughly in line with the steadier $476M earned in FY2024. Ocean Transportation generated $455.6M of operating income and Logistics $44.2M. Margins remain healthy (14.9% operating, 13.3% net) and ROE is a solid 16.1%.
The standout feature is capital discipline. Despite the modest earnings dip, diluted EPS was nearly flat (-0.9% to $13.81) because the company bought back $303M of stock (up 52.3%), shrinking the share count 7.4% to just 30.4M — a powerful per-share tailwind. The balance sheet is conservative for a shipping company: long-term debt of only $312M (down 11.0%) against $2.76B equity, with retained earnings up 4.4% to $2.44B. Matson is reinvesting through the cycle, lifting capex 26.9% to $393M (largely Ocean Transportation fleet/terminal investment) — which, with lower operating cash flow ($547M, down 28.7%), drew cash down 46.8% to $142M, the main near-term watch item.
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jun 21, 2026, 4:55 PM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $3.93B | $4.34B | $3.09B | $3.42B | $3.34B |
| Gross profit | — | — | — | — | — |
| Operating income | $1.19B | $1.35B | $343M | $551M | $500M |
| Net income | $927M | $1.06B | $297M | $476M | $445M |
| Diluted EPS | $21.47 | $27.07 | $8.32 | $13.93 | $13.81 |
| Net margin | 23.6% | 24.5% | 9.6% | 13.9% | 13.3% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$6.37B
EV / EBITDA10.4
EV / Sales1.9
EV / FCF41.4
P / FCF40.1
PEG (trailing)—
Earnings yield7.2%
FCF yield2.5%
Quality & risk
ROIC (est.)12.7%
Free cash flow$154M
Total debt$352M
Net cash-$210M
Piotroski F-Score5/8
Capital returns
Buyback yield4.9%
Dividend yield (est.)0.7%
Shareholder yield5.7%
Shares Δ YoY-7.4%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsSome governance/structural items recently, but no outright red flags.
Recent filings
all on EDGAR ↗4Period ending 2026-07-012026-07-02open ↗4Period ending 2026-07-012026-07-02open ↗4Period ending 2026-06-292026-06-29open ↗4Period ending 2026-06-092026-06-11open ↗4Period ending 2026-06-082026-06-09open ↗4Period ending 2026-06-082026-06-09open ↗144Filing2026-06-08open ↗144Filing2026-06-08open ↗4Period ending 2026-05-282026-05-29open ↗144Filing2026-05-28open ↗4Period ending 2026-05-202026-05-21open ↗144Filing2026-05-20open ↗
Frequently asked
- Is Matson, Inc. (MATX) a buy?
- MATX currently carries a Buy rating with 3/5 conviction, derived from its latest SEC filings. Jones Act shipping franchise with protected lanes, debt-light balance sheet and heavy buybacks holding EPS flat at a cheap 13.8x.
- What is MATX's fair value?
- A Modified-Graham model based on MATX's SEC fundamentals estimates a fair value of about $117.39. It is an estimate from reported earnings, not a price target.
- Is MATX overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, MATX currently appears overvalued relative to its SEC-grounded earnings power.
- What is Matson, Inc.'s quality score?
- MATX scores 73.39539844117331/100 (grade B) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0000003453, latest 10-Q filed 2026-05-05) · EODHD · Proprietary analysis · as of 6/21/2026, 8:55:26 PM.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.