stockrowMatson, Inc.
MATX Industrials Marine Shipping
Matson, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $3.3 billion, down 2.26% from fiscal 2024.
- Revenue
- +26.5%
- EPS
- +64.3%
- Free cash flow
- +148.1%
- Total debt
- −10.7%
Quarter to September 2026, against a year earlier
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Matson, Inc. (MATX) Altman Z-score
Matson, Inc.'s Altman Z-score for fiscal 2025 is 3.06, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 3.06 | (0.21) |
| FY2024 | 3.27 | 0.37 |
| FY2023 | 2.90 | (0.54) |
| FY2022 | 3.45 | (0.36) |
| FY2021 | 3.81 | 1.68 |
| FY2020 | 2.13 | 0.51 |
| FY2019 | 1.62 | (0.24) |
| FY2018 | 1.87 | 0.03 |
| FY2017 | 1.84 | (0.12) |
| FY2016 | 1.96 | (0.61) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.01) | — | −0.01 | |
| Retained earnings / total assets | 0.53 | — | 0.74 | |
| EBIT / total assets | 0.11 | — | 0.36 | |
| Market value of equity / total liabilities | 2.09 | — | 1.26 | |
| Sales / total assets | 0.72 | — | 0.72 | |
| Altman Z-score | Safe zone | 3.06 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 3.91 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| KEX Kirby Corporation compare | 3.1× |
| MATX Matson, Inc. | 3.1× |
| ECO Okeanis Eco Tankers Corp. compare | 2.4× |
| DAC Danaos Corporation compare | 2.4× |
| HAFN Hafnia Limited compare | 2.4× |
| ZIM ZIM Integrated Shipping Services Ltd. compare | 1.5× |
| SBLK Star Bulk Carriers Corp. compare | 1.3× |
| SFL SFL Corporation Ltd. compare | 0.4× |
| NMM Navios Maritime Partners LP compare | — |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets
More on MATX
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Beneish M-score
- The full statement