NYSE:MATX

Stock Analysis Report

Executive Summary

Matson, Inc. provides ocean transportation and logistics services.

Snowflake

Fundamentals

Good value with mediocre balance sheet.


Similar Companies

Share Price & News

How has Matson's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

3.8%

MATX

3.3%

US Shipping

3.4%

US Market


1 Year Return

-2.9%

MATX

-4.6%

US Shipping

5.4%

US Market

Return vs Industry: MATX exceeded the US Shipping industry which returned -4.6% over the past year.

Return vs Market: MATX underperformed the US Market which returned 5.4% over the past year.


Shareholder returns

MATXIndustryMarket
7 Day3.8%3.3%3.4%
30 Day-9.1%-2.5%-1.0%
90 Day-5.2%4.0%-0.4%
1 Year-0.8%-2.9%-2.9%-4.6%7.7%5.4%
3 Year-1.6%-8.2%21.3%13.1%46.2%36.8%
5 Year56.7%40.7%-59.7%-62.7%65.6%47.5%

Price Volatility Vs. Market

How volatile is Matson's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Matson undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: MATX ($37.07) is trading below our estimate of fair value ($279.27)

Significantly Undervalued: MATX is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: MATX is good value based on its PE Ratio (17x) compared to the Shipping industry average (25.4x).

PE vs Market: MATX is good value based on its PE Ratio (17x) compared to the US market (17.7x).


Price to Earnings Growth Ratio

Low PEG Ratio: MATX is poor value based on its PEG Ratio (1.5x)


Price to Book Ratio

PB vs Industry: MATX is overvalued based on its PB Ratio (2.1x) compared to the US Shipping industry average (0.6x).


Next Steps

Future Growth

How is Matson forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

11.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MATX's forecast earnings growth (11.5% per year) is above the savings rate (2.7%).

Earnings vs Market: MATX's earnings (11.5% per year) are forecast to grow slower than the US market (14.3% per year).

High Growth Earnings: MATX's earnings are forecast to grow, but not significantly.

Revenue vs Market: MATX's revenue (2% per year) is forecast to grow slower than the US market (7.3% per year).

High Growth Revenue: MATX's revenue (2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: Insufficient data to determine if MATX's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Matson performed over the past 5 years?

20.1%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: MATX's earnings have grown significantly by 20.1% per year over the past 5 years.

Accelerating Growth: MATX's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: MATX had negative earnings growth (-62.3%) over the past year, making it difficult to compare to the Shipping industry average (-62.3%).


Return on Equity

High ROE: MATX's Return on Equity (12.2%) is considered low.


Return on Assets

ROA vs Industry: MATX has a higher Return on Assets than the Shipping industry average last year.


Return on Capital Employed

ROCE Improving: MATX's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Matson's financial position?


Financial Position Analysis

Short Term Liabilities: MATX's short term assets ($289.6M) do not cover its short term liabilities ($425.4M)

Long Term Liabilities: MATX's short term assets (289.6M) do not cover its long term liabilities (1.5B)


Debt to Equity History and Analysis

Debt Level: MATX's debt to equity ratio (110.4%) is considered high

Reducing Debt: MATX's debt to equity ratio has reduced from 111% to 110.4% over the past 5 years.

Debt Coverage: MATX's debt is well covered by operating cash flow (34.8%).

Interest Coverage: MATX's interest payments on its debt are well covered by EBIT (5.9x coverage).


Balance Sheet

Inventory Level: MATX has a high level of physical assets or inventory.

Debt Coverage by Assets: MATX's debt is not covered by short term assets (assets are 0.3x debt).


Next Steps

Dividend

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

2.37%

Current Dividend Yield


Dividend Yield vs Market

company2.4%marketbottom25%1.5%markettop25%3.8%industryaverage4.2%forecastin3Years2.3%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: MATX's dividend (2.37%) is higher than the bottom 25% of dividend payers in the US market (1.46%).

High Dividend: MATX's dividend (2.37%) is low compared to the top 25% of dividend payers in the US market (3.77%).

Stable Dividend: MATX's dividend payments have been volatile in the past 10 years.

Growing Dividend: MATX's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (38.6%), MATX's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

4.2yrs

Average management tenure


CEO

Matt Cox (58yo)

7.3yrs

Tenure

US$4,564,599

Compensation

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. sin ...


CEO Compensation Analysis

Compensation vs. Market: Matt's total compensation ($USD4.56M) is about average for companies of similar size in the US market ($USD4.07M).

Compensation vs Earnings: Matt's compensation has been consistent with company performance over the past year.


Management Age and Tenure

4.2yrs

Average Tenure

58yo

Average Age

Experienced Management: MATX's management team is considered experienced (4.2 years average tenure).


Board Age and Tenure

2.5yrs

Average Tenure

63yo

Average Age

Experienced Board: MATX's board of directors are not considered experienced ( 2.5 years average tenure), which suggests a new board.


Insider Trading

Insider Buying: MATX insiders have only sold shares in the past 3 months.


Recent Insider Transactions

SellUS$565,72526 Aug 19
Vicente Angoco
EntityIndividual
Role
Senior Key Executive
Senior Vice President of Pacific
Shares16,100
Max PriceUS$35.14
SellUS$94,08013 May 19
W. Baird
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares2,500
Max PriceUS$37.63
SellUS$153,00911 Mar 19
Michael Chun
EntityIndividual
Shares4,398
Max PriceUS$34.79
SellUS$109,28303 Dec 18
Peter Heilmann
EntityIndividual
Role
Chief Administrative Officer
Senior VP
Shares2,750
Max PriceUS$39.74

Ownership Breakdown


Management Team

  • Matt Cox (58yo)

    Chairman & CEO

    • Tenure: 7.3yrs
    • Compensation: US$4.56m
  • Keoni Wagner (58yo)

    Director of Corporate Communications

    • Tenure: 4.2yrs
  • Ron Forest (63yo)

    President

    • Tenure: 2.5yrs
    • Compensation: US$1.67m
  • John Lauer (58yo)

    Senior VP & Chief Commercial Officer

    • Tenure: 2.5yrs
    • Compensation: US$1.26m
  • Lee Fishman

    Director of Strategic Development & Investor Relations

    • Tenure: 0yrs
  • Vic Angoco (52yo)

    Senior Vice President of Pacific

    • Tenure: 7.3yrs
    • Compensation: US$848.54k
  • Joel Wine (47yo)

    Senior VP

    • Tenure: 8.1yrs
    • Compensation: US$1.73m
  • P. Weis

    Chief Information Officer & Senior VP

    • Tenure: 0yrs
  • Yolanda Gonzales

    Vice President of Human Resources

    • Tenure: 0yrs
  • Peter Heilmann (50yo)

    Senior VP

    • Tenure: 2.5yrs
    • Compensation: US$1.40m

Board Members

  • Stan Kuriyama (65yo)

    Lead Independent Director

    • Tenure: 1.5yrs
    • Compensation: US$207.88k
  • W. Baird (58yo)

    Independent Director

    • Tenure: 13.3yrs
    • Compensation: US$188.94k
  • Connie Lau (66yo)

    Independent Director

    • Tenure: 15.5yrs
    • Compensation: US$198.94k
  • Matt Cox (58yo)

    Chairman & CEO

    • Tenure: 7.3yrs
    • Compensation: US$4.56m
  • Mark Fukunaga (63yo)

    Independent Director

    • Tenure: 1.5yrs
    • Compensation: US$162.63k
  • Tom Fargo (70yo)

    Independent Director

    • Tenure: 7.8yrs
    • Compensation: US$197.07k
  • Jenai Wall (60yo)

    Director

    • Tenure: 0.5yrs

Company Information

Matson, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Matson, Inc.
  • Ticker: MATX
  • Exchange: NYSE
  • Founded: 1882
  • Industry: Marine
  • Sector: Transportation
  • Market Cap: US$1.589b
  • Shares outstanding: 42.86m
  • Website: https://www.matson.com

Number of Employees


Location

  • Matson, Inc.
  • 1411 Sand Island Parkway
  • Honolulu
  • Hawaii
  • 96819
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MATXNYSE (New York Stock Exchange)YesCommon StockUSUSDDec 1972
MATXDB (Deutsche Boerse AG)YesCommon StockDEEURDec 1972

Biography

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 ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/15 23:31
End of Day Share Price2019/10/15 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.