Matson, 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. In the quarter to June 2026, revenue grew 16.7%, EPS grew 45.8%, free cash flow fell 455.1% and total debt fell 10.5%, each against the same quarter a year earlier. Dividend growth for ten consecutive years.
Follow MATX
Matson, Inc. (MATX) Piotroski F-score
Matson, Inc.'s Piotroski F-score for fiscal 2025 is 5 out of 9: 5 of nine tests of profitability, leverage and efficiency passed, down from 9 in fiscal 2024.
Piotroski F-score, annual
Embed this chart
Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 5 | (4.00) |
| FY2024 | 9 | 4.00 |
| FY2023 | 5 | (2.00) |
| FY2022 | 7 | (2.00) |
| FY2021 | 9 | 3.00 |
| FY2020 | 6 | 2.00 |
| FY2019 | 4 | (1.00) |
| FY2018 | 5 | 1.00 |
| FY2017 | 4 | (1.00) |
| FY2016 | 5 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | 9.64% | 10.72% | Pass | 1 |
| Positive operating cash flow | 547.10m | 767.80m | Pass | 1 |
| Rising return on assets | 9.64% | 10.72% | Fail | 0 |
| Cash flow above net income | 102.30m | 291.40m | Pass | 1 |
| Falling long-term leverage | 0.07 | 0.08 | Pass | 1 |
| Rising current ratio | 0.89 | 1.09 | Fail | 0 |
| No new shares issued | 31,800,000 | 33,700,000 | Pass | 1 |
| Rising gross margin | 22.77% | 25.01% | Fail | 0 |
| Rising asset turnover | 0.72 | 0.77 | Fail | 0 |
| Piotroski F-score | Mixed | 5 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| KEX Kirby Corporation compare | 8 |
| NMM Navios Maritime Partners LP compare | 7 |
| MATX Matson, Inc. | 5 |
| ECO Okeanis Eco Tankers Corp. compare | 5 |
| HAFN Hafnia Limited compare | 5 |
| SBLK Star Bulk Carriers Corp. compare | 5 |
| ZIM ZIM Integrated Shipping Services Ltd. compare | 4 |
| DAC Danaos Corporation compare | 4 |
| SFL SFL Corporation Ltd. compare | 3 |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover