Matson, Inc. (MATX) vs Navios Maritime Partners LP (NMM)

Matson, Inc. and Navios Maritime Partners LP are both Marine Shipping companies. Matson, Inc. is the larger, with a market value of $6.7B against $2.6B — 2.6× the size. Navios Maritime Partners LP trades at the lower P/E: 6.0× against 14.9×. Navios Maritime Partners LP grew revenue faster over the last twelve months: 13.4% against −0.16%. Navios Maritime Partners LP has the higher net margin (29.6% vs 13.4%) and the lower return on invested capital (6.14% vs 11.0%). Both pay a dividend; Matson, Inc. yields more (1.33% vs 0.70%). Across the 23 metrics below, Navios Maritime Partners LP leads on 14 and Matson, Inc. on 9.

Valuation

Metric MATX NMM Marine Shipping median
P/E 14.89 5.98 6.89
P/S 1.95 1.76 1.92
P/B 2.44 0.72 0.90
Price to free cash flow 57.07 4.52 4.62
EV/EBITDA 8.41 4.91 6.57
EV/Sales 2.02 2.97 2.73
Earnings yield 6.72% 16.73% 9.59%
Free cash flow yield 1.75% 22.14% 16.76%

Profitability

Metric MATX NMM Marine Shipping median
Gross margin 23.02% 64.47% 60.61%
Operating margin 15.18% 35.74% 27.74%
Net margin 13.41% 29.64% 25.21%
Free cash flow margin 3.45% 38.92% 17.29%
Return on equity 17.21% 12.93% 8.62%
Return on assets 10.09% 7.22% 5.35%
Return on invested capital 10.99% 6.14% 5.32%

Growth

Metric MATX NMM Marine Shipping median
Revenue growth (TTM) (0.16%) 13.38% 13.26%
EPS growth (last fiscal year) (0.86%) (19.95%) —
Revenue growth, 5-year CAGR 7.01% 42.75% 11.77%
Net income growth, 5-year CAGR 18.16% 0.00% 0.00%

Health

Metric MATX NMM Marine Shipping median
Debt to equity 0.12 0.63 0.52
Current ratio 0.89 1.53 1.63
Net debt to EBITDA 0.26 2.29 2.34

Dividend

Metric MATX NMM Marine Shipping median
Dividend yield 1.33% 0.70% 5.54%
Payout ratio 0.10 — 0.13

Size

Metric MATX NMM Marine Shipping median
Market cap 6.70b 2.55b 420.73m

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