Matson, Inc., together with its subsidiaries, engages in the provision of ocean transportation and logistics services. It operates through two segments, Ocean Transportation and Logistics. The company offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska and Guam, and to other island economies in Micronesia; and transports dry containers of mixed commodities, refrigerated commodities, food products, beverages, building materials, automobiles, household goods, livestock, seafood, general sustenance cargo, e-commerce related goods, garments, consumer electronics, footwear, retail merchandise, and other merchandise. It also operates an expedited service from China to Long Beach, California, and various islands in the South Pacific, as well as Okinawa, Japan; and provides stevedoring, refrigerated cargo, inland transportation, container equipment maintenance, and other terminal services on the Hawaiian islands of Oahu, Hawaii, Maui, and Kauai, as well as in the Alaska terminal locations of Anchorage, Kodiak, and Dutch Harbor. In addition, the company provides multimodal transportation brokerage of domestic and international rail intermodal, long-haul and regional highway trucking, specialized hauling, flat-bed and project, less-than-truckload (LCL), and expedited freight services; LCL consolidation and freight forwarding services; warehousing, trans-loading, value-added packaging and distribution services; purchase order management, booking services, and non-vessel operating common carrier freight forwarding services. It serves the U.S. military, freight forwarders and non-vessel owning common carriers, retailers and consumer goods manufacturers, and other customers. The company was formerly known as Alexander & Baldwin Holdings, Inc. and changed its name to Matson, Inc. in June 2012. Matson, Inc. was founded in 1882 and is headquartered in Honolulu, Hawaii.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $3.3B | $841M | $445M | $154M | 16.1% | -2.3% | -6.6% |
| 2024 | $3.4B | $894M | $476M | $458M | 18.0% | 10.6% | 60.4% |
| 2023 | $3.1B | $669M | $297M | $262M | 12.4% | -28.7% | -72.1% |
| 2022 | $4.3B | $1.7B | $1.1B | $1.1B | 46.3% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 4,343 | 3,094.60 | 3,421.80 | 3,344.50 |
| Operating Revenue | - | 4,343 | 3,094.60 | 3,421.80 | 3,344.50 |
| Cost Of Revenue | - | 2,811.50 | 2,470.70 | 2,565.90 | 2,583.10 |
| Gross Profit | - | 1,531.50 | 623.90 | 855.90 | 761.40 |
| Operating Expense | - | 261 | 283.30 | 303.60 | 294.10 |
| Selling General And Administration | - | 261 | 283.30 | 303.60 | 294.10 |
| Total Expenses | - | 3,072.50 | 2,754 | 2,869.50 | 2,877.20 |
| Operating Income | - | 1,270.50 | 340.60 | 552.30 | 467.30 |
| Total Operating Income As Reported | - | 1,353.60 | 342.80 | 551.30 | 499.80 |
| EBITDA | - | 1,662.50 | 669.40 | 893.70 | 840.60 |
| Normalized EBITDA | - | 1,662.50 | 669.40 | 893.70 | 840.60 |
| EBIT | - | 1,370.30 | 385.20 | 606.90 | 540.60 |
| Interest Income | - | 8.20 | 36 | 48.30 | 31.70 |
| Interest Expense | - | 18 | 12.20 | 7.50 | 6.80 |
| Net Interest Income | - | -9.80 | 23.80 | 40.80 | 24.90 |
| Other Non Operating Income Expenses | - | 8.50 | 6.40 | 7.30 | 9.10 |
| Other Income Expense | - | 91.60 | 8.60 | 6.30 | 41.60 |
| Interest Income Non Operating | - | 8.20 | 36 | 48.30 | 31.70 |
| Interest Expense Non Operating | - | 18 | 12.20 | 7.50 | 6.80 |
| Net Non Operating Interest Income Expense | - | -9.80 | 23.80 | 40.80 | 24.90 |
| Pretax Income | - | 1,352.30 | 373 | 599.40 | 533.80 |
| Tax Provision | - | 288.40 | 75.90 | 123 | 89 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 1,063.90 | 297.10 | 476.40 | 444.80 |
| Net Income From Continuing And Discontinued Operation | - | 1,063.90 | 297.10 | 476.40 | 444.80 |
| Net Income From Continuing Operation Net Minority Interest | - | 1,063.90 | 297.10 | 476.40 | 444.80 |
| Net Income | - | 1,063.90 | 297.10 | 476.40 | 444.80 |
| Net Income Common Stockholders | - | 1,063.90 | 297.10 | 476.40 | 444.80 |
| Net Income Including Noncontrolling Interests | - | 1,063.90 | 297.10 | 476.40 | 444.80 |
| Normalized Income | - | 1,063.90 | 297.10 | 476.40 | 444.80 |
| Diluted NI Availto Com Stockholders | - | 1,063.90 | 297.10 | 476.40 | 444.80 |
| Basic Average Shares | - | 39 | 35.30 | 33.70 | 31.80 |
| Diluted Average Shares | - | 39.30 | 35.70 | 34.20 | 32.20 |
| Reconciled Depreciation | - | 292.20 | 284.20 | 286.80 | 300 |
| Reconciled Cost Of Revenue | - | 2,811.50 | 2,470.70 | 2,565.90 | 2,583.10 |
| General And Administrative Expense | - | 261 | 283.30 | 303.60 | 294.10 |
| Other Gand A | - | 261 | 283.30 | 303.60 | 294.10 |
| Earnings From Equity Interest | - | 83.10 | 2.20 | -1 | 32.50 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Matson, Inc.this co. | MATX | $5.7B | 12.74β discount | 2.05 | 16.1% | 7.44 |
| Schneider National, Inc. | SNDR | $6.5B | 62.71 | 2.15 | 3.4% | 10.77 |
| Granite Construction Incorporated | GVA | $6.2B | 32.09 | 5.25 | 16.4% | 14.37 |
| Arcosa, Inc. | ACA | $6.1B | 29.22 | 2.31 | 7.9% | 12.91 |
| Amentum Holdings, Inc. | AMTM | $5.7B | 86.21 |
| - |
| - |
| - |
| - |
| 1.26 |
| 1.5% |
| 9.54 |
| Casella Waste Systems, Inc. | CWST | $5.3B | 676.02 | 3.39 | 0.5% | 16.96 |
| VSE Corporation | VSEC | $5.2B | 440.96 | 3.59 | 0.8% | 41.96 |
| ADT Inc. | ADT | $5.1B | 8.60 | 1.36 | 15.8% | 4.79 |
| UniFirst Corporation | UNF | $4.9B | 33.11 | 2.26 | 6.8% | 14.69 |
| Peer Median | - | 47.91 | 2.28 | 5.1% | 13.64 | |