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Matson

NYSE:MATX
Snowflake Description

Good value with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MATX
NYSE
$2B
Market Cap
  1. Home
  2. US
  3. Transportation
Company description

Matson, Inc. provides ocean transportation and logistics services. The last earnings update was 72 days ago. More info.


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MATX Share Price and Events
7 Day Returns
5.1%
NYSE:MATX
0.2%
US Shipping
-1.2%
US Market
1 Year Returns
8.1%
NYSE:MATX
-12.2%
US Shipping
3.4%
US Market
MATX Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Matson (MATX) 5.1% 5.2% 0.8% 8.1% 8.5% 39.5%
US Shipping 0.2% 5.2% 3.3% -12.2% -2.5% -71.7%
US Market -1.2% 1.2% 1.7% 3.4% 35.5% 41.6%
1 Year Return vs Industry and Market
  • MATX outperformed the Shipping industry which returned -12.2% over the past year.
  • MATX outperformed the Market in United States of America which returned 3.4% over the past year.
Price Volatility
MATX
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Matson undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Matson to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Matson.

NYSE:MATX Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.1%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:MATX
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Shipping Unlevered Beta Simply Wall St/ S&P Global 0.72
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.717 (1 + (1- 21%) (65.94%))
1.06
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.06
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.06 * 5.96%)
9.05%

Discounted Cash Flow Calculation for NYSE:MATX using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Matson is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:MATX DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 9.05%)
2020 110.99 Analyst x2 101.78
2021 259.57 Analyst x1 218.28
2022 407.51 Est @ 56.99% 314.23
2023 573.41 Est @ 40.71% 405.47
2024 741.52 Est @ 29.32% 480.83
2025 899.77 Est @ 21.34% 535.02
2026 1,041.56 Est @ 15.76% 567.93
2027 1,164.98 Est @ 11.85% 582.51
2028 1,271.15 Est @ 9.11% 582.85
2029 1,362.66 Est @ 7.2% 572.95
Present value of next 10 years cash flows $4,361.84
NYSE:MATX DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $1,362.66 × (1 + 2.73%) ÷ (9.05% – 2.73%)
$22,148.49
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $22,148.49 ÷ (1 + 9.05%)10
$9,312.67
NYSE:MATX Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $4,361.84 + $9,312.67
$13,674.51
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $13,674.51 / 42.83
$319.3
NYSE:MATX Discount to Share Price
Calculation Result
Value per share (USD) From above. $319.30
Current discount Discount to share price of $39.63
= -1 x ($39.63 - $319.30) / $319.30
87.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Matson is available for.
Intrinsic value
>50%
Share price is $39.63 vs Future cash flow value of $319.3
Current Discount Checks
For Matson to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Matson's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Matson's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Matson's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Matson's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:MATX PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $2.51
NYSE:MATX Share Price ** NYSE (2019-07-19) in USD $39.63
United States of America Shipping Industry PE Ratio Median Figure of 14 Publicly-Listed Shipping Companies 19.13x
United States of America Market PE Ratio Median Figure of 3,080 Publicly-Listed Companies 17.88x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Matson.

NYSE:MATX PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:MATX Share Price ÷ EPS (both in USD)

= 39.63 ÷ 2.51

15.79x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Matson is good value based on earnings compared to the US Shipping industry average.
  • Matson is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Matson's expected growth come at a high price?
Raw Data
NYSE:MATX PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 15.79x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
7.4%per year
United States of America Shipping Industry PEG Ratio Median Figure of 10 Publicly-Listed Shipping Companies 0.4x
United States of America Market PEG Ratio Median Figure of 2,119 Publicly-Listed Companies 1.57x

*Line of best fit is calculated by linear regression .

NYSE:MATX PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 15.79x ÷ 7.4%

2.14x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Matson is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Matson's assets?
Raw Data
NYSE:MATX PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $17.82
NYSE:MATX Share Price * NYSE (2019-07-19) in USD $39.63
United States of America Shipping Industry PB Ratio Median Figure of 23 Publicly-Listed Shipping Companies 0.56x
United States of America Market PB Ratio Median Figure of 5,245 Publicly-Listed Companies 1.79x
NYSE:MATX PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:MATX Share Price ÷ Book Value per Share (both in USD)

= 39.63 ÷ 17.82

2.22x

* Primary Listing of Matson.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Matson is overvalued based on assets compared to the US Shipping industry average.
X
Value checks
We assess Matson's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Shipping industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Shipping industry average (and greater than 0)? (1 check)
  5. Matson has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Matson expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
7.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Matson expected to grow at an attractive rate?
  • Matson's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Matson's earnings growth is positive but not above the United States of America market average.
  • Matson's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:MATX Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:MATX Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 7.4%
NYSE:MATX Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 2%
United States of America Shipping Industry Earnings Growth Rate Market Cap Weighted Average 30.1%
United States of America Shipping Industry Revenue Growth Rate Market Cap Weighted Average 3.7%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.9%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:MATX Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:MATX Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 2,309 120 1
2020-12-31 2,337 271 115 5
2019-12-31 2,255 226 102 5
NYSE:MATX Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 2,244 309 107
2018-12-31 2,223 305 109
2018-09-30 2,174 281 254
2018-06-30 2,129 281 247
2018-03-31 2,084 251 238
2017-12-31 2,047 225 231
2017-09-30 2,050 217 85
2017-06-30 2,007 142 76
2017-03-31 1,962 142 70
2016-12-31 1,942 158 81
2016-09-30 1,917 174 88
2016-06-30 1,961 221 104

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Matson's earnings are expected to grow by 7.4% yearly, however this is not considered high growth (20% yearly).
  • Matson's revenue is expected to grow by 2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:MATX Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from Matson Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:MATX Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 2.79 2.79 2.79 1.00
2020-12-31 2.65 2.75 2.58 5.00
2019-12-31 2.35 2.39 2.30 5.00
NYSE:MATX Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 2.51
2018-12-31 2.55
2018-09-30 5.96
2018-06-30 5.78
2018-03-31 5.57
2017-12-31 5.38
2017-09-30 1.98
2017-06-30 1.77
2017-03-31 1.63
2016-12-31 1.89
2016-09-30 2.04
2016-06-30 2.40

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Matson will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Matson's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Matson has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Matson performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Matson's growth in the last year to its industry (Shipping).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Matson has delivered over 20% year on year earnings growth in the past 5 years.
  • Matson's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Matson's 1-year earnings growth is negative, it can't be compared to the US Shipping industry average.
Earnings and Revenue History
Matson's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Matson Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:MATX Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 2,243.80 107.30 219.40
2018-12-31 2,222.80 109.00 216.90
2018-09-30 2,174.00 254.30 213.10
2018-06-30 2,128.50 246.80 211.20
2018-03-31 2,083.90 238.20 206.90
2017-12-31 2,046.90 231.00 204.30
2017-09-30 2,050.10 85.10 196.30
2017-06-30 2,006.60 76.30 191.20
2017-03-31 1,961.80 70.30 185.90
2016-12-31 1,941.60 81.40 182.10
2016-09-30 1,917.10 88.00 154.30
2016-06-30 1,961.00 104.20 160.10
2016-03-31 1,940.90 96.10 170.00
2015-12-31 1,884.90 103.00 195.00
2015-09-30 1,833.60 104.20 184.60
2015-06-30 1,731.10 84.20 168.50
2015-03-31 1,719.90 92.40 149.80
2014-12-31 1,714.20 70.80 147.30
2014-09-30 1,681.60 50.30 140.00
2014-06-30 1,654.80 46.00 135.70
2014-03-31 1,635.00 48.00 134.20
2013-12-31 1,637.20 53.70 132.60
2013-09-30 1,624.60 62.10 132.00
2013-06-30 1,611.00 63.90 130.80
2013-03-31 1,588.60 59.10 124.60
2012-12-31 1,560.00 52.00 119.80
2012-09-30 1,536.60 43.00 116.10

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Matson has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Matson used its assets more efficiently than the US Shipping industry average last year based on Return on Assets.
  • Matson's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Matson's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Shipping industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Matson has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Matson's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Matson's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Matson's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Matson's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Matson's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Matson Company Filings, last reported 3 months ago.

NYSE:MATX Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 763.00 868.10 15.40
2018-12-31 755.30 856.40 19.60
2018-09-30 743.70 908.10 12.10
2018-06-30 699.50 932.50 12.80
2018-03-31 682.40 903.60 13.70
2017-12-31 677.20 857.10 19.80
2017-09-30 518.60 839.30 24.70
2017-06-30 475.90 753.90 15.30
2017-03-31 466.10 780.30 19.50
2016-12-31 494.90 738.90 13.90
2016-09-30 459.20 812.40 16.40
2016-06-30 434.40 462.80 19.20
2016-03-31 439.70 481.20 20.10
2015-12-31 450.60 429.90 25.50
2015-09-30 431.10 481.50 25.50
2015-06-30 386.90 516.60 15.80
2015-03-31 385.30 371.20 325.80
2014-12-31 363.80 373.60 293.40
2014-09-30 366.90 377.50 230.90
2014-06-30 342.00 379.90 223.70
2014-03-31 335.90 383.60 229.70
2013-12-31 338.20 286.10 114.50
2013-09-30 315.60 289.90 81.80
2013-06-30 292.40 292.40 39.10
2013-03-31 284.10 301.10 11.00
2012-12-31 279.90 319.10 19.90
2012-09-30 271.90 328.60 11.50
  • Matson's level of debt (113.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (114.2% vs 113.8% today).
  • Debt is well covered by operating cash flow (35.5%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 6.6x coverage).
X
Financial health checks
We assess Matson's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Matson has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Matson's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.22%
Current annual income from Matson dividends. Estimated to be 2.16% next year.
If you bought $2,000 of Matson shares you are expected to receive $44 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Matson's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
  • Matson's dividend is below the markets top 25% of dividend payers in United States of America (3.76%).
Upcoming dividend payment

Purchase Matson before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:MATX Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
United States of America Shipping Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 4.3%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2016 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:MATX Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31
2020-12-31 0.87 2.00
2019-12-31 0.85 2.00
NYSE:MATX Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-06-14 0.880 2.309
2019-04-25 0.840 2.241
2019-01-24 0.840 2.342
2018-10-25 0.840 2.368
2018-06-29 0.840 2.261
2018-04-26 0.800 2.310
2018-01-25 0.800 2.625
2017-10-26 0.800 2.756
2017-06-29 0.800 2.883
2017-04-27 0.760 2.513
2017-01-26 0.760 2.300
2016-10-27 0.760 2.041
2016-06-23 0.760 2.038
2016-04-28 0.720 2.163
2016-01-28 0.720 1.851
2015-10-22 0.720 1.615
2015-06-25 0.720 1.794
2015-04-23 0.680 1.616
2015-01-29 0.680 1.708
2014-10-23 0.680 2.069
2014-06-26 0.680 2.531
2014-04-24 0.640 2.636
2014-01-30 0.640 2.642
2013-10-24 0.640 2.518
2013-06-27 0.640 2.336
2013-04-25 0.600 2.400
2013-01-24 0.600 2.411
2012-10-25 0.600 2.533
2012-07-02 0.600 2.585
2012-04-26 1.260 2.550
2012-01-26 1.260 2.661
2011-10-27 1.260 3.094
2011-06-23 1.260 3.005
2011-04-26 1.260 2.638
2011-01-27 1.260 2.836
2010-10-28 1.260 3.311
2010-06-24 1.260 3.747
2010-04-29 1.260 3.888
2010-01-28 1.260 3.772
2009-10-22 1.260 3.915
2009-06-25 1.260 4.323
2009-04-30 1.260 5.217
2009-01-30 1.260 6.094
2008-10-23 1.260 5.019

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Matson's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Matson's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Matson afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Matson has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Matson's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Matt Cox
COMPENSATION $4,564,599
AGE 58
TENURE AS CEO 7.1 years
CEO Bio

Mr. Matthew J. Cox, also known as Matt, serves as Director of First Hawaiian Inc since 2016. Mr. Cox has been a Director at First Hawaiian Bank since 2014. Mr. Cox Serves as the Director at Matson Inc. since 2012. He has been Chairman of the Board of Matson, Inc. since April 2017. He has been Chief Executive Officer of Matson, Inc. (“Matson”), a public company and leading carrier for ocean transportation services in the Pacific, since 2012, having previously served as President, Chief Operating Officer and Chief Financial Officer. He serves as Chairman and CEO of Matson’s subsidiary, Matson Navigation Company, Inc. (“MatNav”) since June 2012. Prior to joining Matson, in 2001, he served as Chief Operating Officer and Chief Financial Officer for Distribution Dynamics, Inc., a provider of outsourced logistics, inventory management and integrated information services that is now a division of Anixter Industries. Mr. Cox served as President of MatNav from October 2008 to April 2017. Mr. Cox also previously held executive and financial positions including Vice President, Refrigerated Containers at American President Lines, Ltd., a global container transportation company from 1987 to 1999. Mr. Cox serves on the advisory boards of Catholic Charities of Hawaii and the University of Hawaii Shidler College of Business, and, from 2008 to 2012, he served on the Board of the Pacific Maritime Association. Mr. Cox holds a bachelor’s degree in accounting and finance from the University of California, Berkeley.

CEO Compensation
  • Matt's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Matt's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Matson management team in years:

3.9
Average Tenure
58
Average Age
  • The tenure for the Matson management team is about average.
Management Team

Matt Cox

TITLE
Chairman & CEO
COMPENSATION
$5M
AGE
58
TENURE
7.1 yrs

Ron Forest

TITLE
President
COMPENSATION
$2M
AGE
63
TENURE
2.3 yrs

Joel Wine

TITLE
Senior VP
COMPENSATION
$2M
AGE
47
TENURE
7.8 yrs

Peter Heilmann

TITLE
Senior VP
COMPENSATION
$1M
AGE
50
TENURE
2.3 yrs

John Lauer

TITLE
Senior VP & Chief Commercial Officer
COMPENSATION
$1M
AGE
58
TENURE
2.3 yrs

P. Weis

TITLE
Chief Information Officer & Senior VP

Lee Fishman

TITLE
Director of Strategic Development & Investor Relations

Keoni Wagner

TITLE
Director of Corporate Communications
AGE
58
TENURE
3.9 yrs

Yolanda Gonzales

TITLE
Vice President of Human Resources

Vic Angoco

TITLE
Senior Vice President of Pacific
COMPENSATION
$849K
AGE
52
TENURE
7.1 yrs
Board of Directors Tenure

Average tenure and age of the Matson board of directors in years:

2.3
Average Tenure
63
Average Age
  • The average tenure for the Matson board of directors is less than 3 years, this suggests a new board.
Board of Directors

Stan Kuriyama

TITLE
Lead Independent Director
COMPENSATION
$208K
AGE
65
TENURE
1.3 yrs

Matt Cox

TITLE
Chairman & CEO
COMPENSATION
$5M
AGE
58
TENURE
2.3 yrs

Connie Lau

TITLE
Director
COMPENSATION
$199K
AGE
66
TENURE
15.3 yrs

W. Baird

TITLE
Director
COMPENSATION
$189K
AGE
58
TENURE
13.1 yrs

Tom Fargo

TITLE
Director
COMPENSATION
$197K
AGE
70
TENURE
7.6 yrs

Mark Fukunaga

TITLE
Director
COMPENSATION
$163K
AGE
63
TENURE
1.3 yrs

Jenai Wall

TITLE
Director
AGE
60
TENURE
0.3 yrs
Who owns this company?
Recent Insider Trading
  • Matson individual insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
13. May 19 Sell W. Baird Individual 13. May 19 13. May 19 -2,500 $37.63 $-94,080
11. Mar 19 Sell Michael Chun Individual 08. Mar 19 08. Mar 19 -4,398 $34.79 $-153,009
03. Dec 18 Sell Peter Heilmann Individual 03. Dec 18 03. Dec 18 -2,750 $39.74 $-109,283
10. Sep 18 Buy Mark Fukunaga Individual 07. Sep 18 07. Sep 18 4,000 $36.24 $144,970
X
Management checks
We assess Matson's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Matson has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Does Market Volatility Impact Matson, Inc.'s (NYSE:MATX) Share Price?

Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). … A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market. … In comparison a stock with a beta of over one tends to be move in a similar direction to the market in the long term, but with greater changes in price.

Simply Wall St -

Update: Matson (NYSE:MATX) Stock Gained 40% In The Last Five Years

One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. … Over half a decade, Matson managed to grow its earnings per share at 17% a year. … When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return.

Simply Wall St -

Need To Know: Matson, Inc. (NYSE:MATX) Insiders Have Been Selling Shares

So we'll take a look at whether insiders have been buying or selling shares in Matson, Inc. … While insider selling is not a positive sign, we can't be sure if it does mean insiders think the shares are fully valued, so it's only a weak sign. … Insider Ownership For a common shareholder, it is worth checking how many shares are held by company insiders.

Simply Wall St -

Should We Worry About Matson, Inc.'s (NYSE:MATX) P/E Ratio?

The formula for P/E is: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for Matson: P/E of 14.21 = $35.67 ÷ $2.51 (Based on the trailing twelve months to March 2019.) Is A High Price-to-Earnings Ratio Good? … All else being equal, it's better to pay a low price -- but as Warren Buffett said, 'It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.' How Growth Rates Impact P/E Ratios Generally speaking the rate of earnings growth has a profound impact on a company's P/E multiple. … Matson shrunk earnings per share by 55% over the last year.

Simply Wall St -

Matson, Inc. (NYSE:MATX) Earns Among The Best Returns In Its Industry

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … What is Return On Capital Employed (ROCE)? … ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business.

Simply Wall St -

Matson Shareholders Have Enjoyed A 47% Share Price Gain

(NYSE:MATX) share price is up 47% in the last five years, that's less than the market return. … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … During five years of share price growth, Matson achieved compound earnings per share (EPS) growth of 37% per year.

Simply Wall St -

Is Matson, Inc. (NYSE:MATX) Potentially Undervalued?

saw significant share price movement during recent months on the NYSE, rising to highs of $41.18 and falling to the lows of $30.92. … Some share price movements can give investors a better opportunity to enter into the stock, and potentially buy at a lower price? … Let’s take a look at Matson’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

Do Institutions Own Shares In Matson, Inc. (NYSE:MATX)?

(NYSE:MATX), then you'll have to look at the makeup of its share registry. … Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. … institutions are noticeable on the share registry.

Simply Wall St -

Matson, Inc. (NYSE:MATX) Is Trading At A 45.78% Discount

In this article I am going to calculate the intrinsic value of Matson, Inc. … by taking the expected future cash flows and discounting them to today's value. … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model

Simply Wall St -

Is Matson, Inc. (NYSE:MATX) An Attractive Dividend Stock?

A large part of investment returns can be generated by dividend-paying stock given their role in compounding returns over time. … Let's dig deeper into whether Matson should have a place in your portfolio. … Take the survey and be part of one of the most advanced studies of stock market investors to date

Simply Wall St -

Company Info

Description

Matson, Inc. 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, and Guam, as well as to other island economies in Micronesia. It primarily transports dry containers of mixed commodities, refrigerated commodities, packaged foods and beverages, building materials, automobiles, and household goods; livestock; seafood; general sustenance cargo; and garments, footwear, and other retail merchandise. This segment 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 container stevedoring, refrigerated cargo services, inland transportation, container equipment maintenance, and other terminal services Hawaiian islands of Oahu, Hawaii, Maui, and Kauai, as well as in the Alaska locations of Anchorage, Kodiak, and Dutch Harbor. In addition, it offers ship management services. The Logistics segment provides multimodal transportation brokerage services, including domestic and international rail intermodal, long-haul and regional highway trucking, specialized hauling, flat-bed and project, less-than-truckload, and expedited freight services; less-than-container load forwarding services; warehousing and distribution services; and supply chain management services. 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.

Details
Name: Matson, Inc.
MATX
Exchange: NYSE
Founded: 1882
$1,697,208,765
42,826,363
Website: http://www.matson.com
Address: Matson, Inc.
1411 Sand Island Parkway,
Honolulu,
Hawaii, 96819,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE MATX Common Stock New York Stock Exchange US USD 14. Dec 1972
DB MATX Common Stock Deutsche Boerse AG DE EUR 14. Dec 1972
Number of employees
Current staff
Staff numbers
2,007
Matson employees.
Industry
Marine
Transportation
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/20 23:32
End of day share price update: 2019/07/19 00:00
Last estimates confirmation: 2019/06/21
Last earnings filing: 2019/05/09
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.