MATX Matson, Inc.

Overview and Growth

Fiscal 2025 results for Matson, Inc. combined $3.34B of revenue with net income of $444.80M and an operating cash inflow of $547.10M. The $3.34B revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. Compared with $3.42B in fiscal 2024, revenue decreased 2.3%, a top-line contraction that reduced operating scale. Diluted earnings per share were $13.81, translating the period’s attributable earnings into the amount reported for each diluted share. Diluted EPS decreased by 0.9% from $13.93 in fiscal 2024, showing how the earnings change reached shareholders on a per-share basis. The revenue-to-assets relationship was 0.72x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

Operations produced $499.80M of income after the reported operating expense base, before the remaining non-operating and tax effects. Operating margin measured 14.9%, showing the portion of revenue preserved after the full set of operating costs. The bottom-line result was net income of $444.80M, after the operating, financing, tax, and other items recognized for the period. Net margin was 13.3%, meaning that this portion of revenue remained as net income after all recognized expenses. The earnings statement records $533.80M of pretax income, the profit base against which the reported tax provision can be assessed. Pretax income represented 16.0% of revenue, placing earnings before tax in the context of the company’s operating scale. The reported income-tax provision was $89.00M, the amount recognized between pretax income and the final net-income result. Relative to pretax income, the tax provision measured 16.7%, quantifying the portion of pre-tax earnings paid in income tax.

Liquidity and Capital Structure

The company held $4.64B of assets against $1.88B of liabilities and $2.76B of equity, revealing how the asset base was financed. Current assets were $471.90M against $527.40M of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. The current ratio was 0.89x; current liabilities exceeded current assets, leaving a short-term liquidity deficit. Reported cash and equivalents were $141.90M, separating immediately recognizable cash resources from the rest of the current-asset base. The cash balance equaled 26.9% of current liabilities, showing how much near-term coverage came from cash alone. Total debt was $351.80M, establishing the amount of borrowing carried within the company’s capital structure. The debt-to-equity relationship was 0.13x, showing how much debt the company carried for each unit of book equity. The debt-to-assets relationship was 7.6%, comparing borrowing with the total asset balance. Relative to total assets, liabilities measured 40.5%, complementing the separate equity-based view of the company’s capital structure. The cash-to-assets relationship was 3.1%, comparing reported cash and equivalents with the full positive asset balance. The asset base changed 0.9% from $4.60B in fiscal 2024, leaving current total assets higher year over year.

Cash Flow and Earnings Quality

The company reported $547.10M of operating cash flow, a cash inflow that shows the cash generated by operations. Against net income, operating cash flow measured 1.23x, showing the relationship between accrual earnings and operating cash. The cash-flow statement records $393.40M of capital expenditures, the investment amount considered after operating cash generation. Capital spending absorbed 71.9% of operating cash flow, quantifying the share of cash from operations directed to investment. The combination of operating cash flow and capital spending produced $153.70M of positive free cash flow for the period. Relative to revenue, free cash flow equaled 4.6%, showing how much sales converted into cash after investment. Free cash flow equaled 3.3% of total assets, relating post-investment cash generation to the company’s resource base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.