Matson, Inc. (MATX) Balance Sheet
MATX balance sheet, 2025
December 31, 2025 · U.S. dollars$4.76B assets = $2.00B liabilities + $2.76B equity
Both columns are drawn to the same scale: what MATX owns equals what it owes plus shareholders’ equity. Hover a block for its value.
MATX financial health
Current ratio0.89
Tight · current assets cover current liabilities 0.89×
Debt / equity0.26
Low leverage · $0.26 of debt for each $1 of equity
Equity / assets58.0%
Equity-funded · of assets funded by shareholders
Cash / debt19.5%
Low cash cover · cash & short-term investments vs total debt
Goodwill & intangibles10.0%
Mostly tangible · of total assets
Descriptive bands, not a rating. Fiscal 2025.
MATX balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $2.18B2016 | $4.76B2025 | +9.1%/yr | |
| Total liabilities | $1.68B2016 | $2.00B2025 | +1.9%/yr | |
| Shareholders’ equity | $494.9M2016 | $2.76B2025 | +21.0%/yr | |
| Cash & short-term investments | $13.9M2016 | $141.9M2025 | +29.5%/yr | |
| Total debt | $738.9M2016 | $727.1M2025 | −0.2%/yr | |
| Net cash (debt) | −$725.0M2016 | −$585.2M2025 | +$139.8M | |
| Working capital | −$3.4M2016 | −$55.5M2025 | −$52.1M | |
| Book value per share | $11.382016 | $88.712025 | +25.6%/yr | |
| Current ratio | 0.992016 | 0.892025 | −0.09 | |
| Debt / equity | 1.492016 | 0.262025 | −1.23 | |
| Shares outstanding | 43.5M2016 | 31.1M2025 | −3.7%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
MATX assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
MATX liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
MATX debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
MATX balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $141.9M | $266.8M | $134.0M | $253.7M | $287.7M | $14.4M | $21.2M | $19.6M | $19.8M | $13.9M |
| Cash & equivalents | $141.9M | $266.8M | $134.0M | $253.7M | $287.7M | $14.4M | $21.2M | $19.6M | $19.8M | $13.9M |
| Short-term investments | — | — | — | — | — | $48.0M | — | — | $0 | $0 |
| Receivables | $256.8M | $290.0M | $423.9M | $439.3M | $366.8M | $253.7M | $218.7M | $250.5M | $197.2M | $212.9M |
| Inventory | $0 | $0 | $1 | −$456.7M | $22.6M | $1 | −$6.2M | −$250.5M | −$212.4M | −$230.5M |
| Other current assets | $73.2M | $52.8M | $44.4M | $523.3M | $27.4M | $37.8M | $55.9M | $298.8M | $261.4M | $277.9M |
| Total current assets | $471.9M | $609.6M | $602.3M | $759.6M | $704.5M | $305.9M | $289.6M | $318.4M | $266.0M | $274.2M |
| Property, plant & equipment (net) | $2.50B | $2.62B | $2.38B | $2.36B | $2.31B | $1.94B | $1.85B | $1.37B | $1.17B | $949.2M |
| Goodwill & intangible assets | $474.4M | $487.2M | $504.2M | $502.7M | $508.9M | $519.8M | $530.7M | $541.8M | $553.0M | $560.3M |
| Long-term investments | $96.2M | $84.1M | $85.5M | $81.2M | $58.7M | $48.7M | $76.2M | $87.0M | $93.2M | $82.4M |
| Other non-current assets | $1.22B | $795.9M | $723.1M | $627.1M | $108.1M | $84.9M | $94.7M | $192.8M | $254.3M | $313.6M |
| Total assets | $4.76B | $4.60B | $4.29B | $4.33B | $3.69B | $2.90B | $2.85B | $2.51B | $2.33B | $2.18B |
| Liabilities | ||||||||||
| Accounts payable | $244.9M | $268.5M | $277.9M | $255.6M | $308.4M | $283.1M | $235.7M | $246.8M | $175.1M | $170.5M |
| Short-term debt | $168.2M | $168.7M | $176.4M | $220.5M | $202.6M | $131.6M | $115.0M | $42.1M | $30.8M | $31.8M |
| Deferred revenue | $5.7M | $5.5M | $6.4M | $646.5M | −$308.4M | $4.2M | $6.9M | $5.7M | $5.0M | $2.9M |
| Total current liabilities | $527.4M | $560.4M | $562.3M | $581.6M | $612.4M | $511.5M | $436.7M | $370.8M | $286.3M | $277.6M |
| Long-term debt | $312.1M | $350.8M | $389.3M | $427.7M | $549.7M | $685.6M | $910.0M | $814.3M | $826.3M | $707.1M |
| Lease obligations | $375.3M | $358.5M | $296.0M | $406.1M | $445.0M | $259.3M | $264.6M | — | — | — |
| Other long-term liabilities | $1.16B | $1.03B | $942.3M | $1.02B | $863.6M | $742.3M | $693.0M | $566.2M | $542.4M | $700.1M |
| Total liabilities | $2.00B | $1.94B | $1.89B | $2.03B | $2.03B | $1.94B | $2.04B | $1.75B | $1.66B | $1.68B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $22.8M | $24.7M | $25.8M | $27.2M | $30.7M | $32.4M | $32.2M | $32.0M | $31.9M | $32.1M |
| Retained earnings (deficit) | $2.44B | $2.34B | $2.09B | $1.99B | $1.35B | $658.1M | $504.2M | $460.0M | $380.5M | $196.6M |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | $1.6M | −$6.5M | −$8.2M | −$6.9M | −$30.9M | −$50.8M | −$36.9M | −$34.5M | −$24.9M | −$22.5M |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $2.76B | $2.65B | $2.40B | $2.30B | $1.67B | $961.2M | $805.7M | $755.3M | $677.2M | $494.9M |
| Key figures | ||||||||||
| Total debt | $727.1M | $749.0M | $725.0M | $910.7M | $1.06B | $1.00B | $1.22B | $856.4M | $857.1M | $738.9M |
| Net cash (debt) | −$585.2M | −$482.2M | −$591.0M | −$657.0M | −$772.0M | −$989.7M | −$1.20B | −$836.8M | −$837.3M | −$725.0M |
| Working capital | −$55.5M | $49.2M | $40.0M | $178.0M | $92.1M | −$205.6M | −$147.1M | −$52.4M | −$20.3M | −$3.4M |
| Tangible book value | $2.28B | $2.16B | $1.90B | $1.79B | $1.16B | $441.4M | $275.0M | $213.5M | $124.2M | −$65.4M |
| Book value per share | $88.71 | $77.54 | $67.25 | $58.45 | $38.60 | $22.10 | $18.61 | $17.57 | $15.68 | $11.38 |
| Shares outstanding | 31.1M | 34.2M | 35.7M | 39.3M | 43.2M | 43.5M | 43.3M | 43.0M | 43.2M | 43.5M |
| Current ratio | 0.89 | 1.09 | 1.07 | 1.31 | 1.15 | 0.60 | 0.66 | 0.86 | 0.93 | 0.99 |
| Quick ratio | 0.76 | 0.99 | 0.99 | 1.19 | 1.07 | 0.52 | 0.55 | 0.73 | 0.76 | 0.82 |
| Debt / equity | 0.26 | 0.28 | 0.30 | 0.40 | 0.64 | 1.04 | 1.52 | 1.13 | 1.27 | 1.49 |
| Equity / assets | 58.0% | 57.7% | 55.9% | 53.0% | 45.1% | 33.1% | 28.3% | 30.1% | 29.0% | 22.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $119.3M | $100.1M | $141.9M | $92.7M | $59.1M | $122.0M | $266.8M | $270.3M | $168.2M | $25.9M | $134.0M | $160.4M |
| Cash & equivalents | $119.3M | $100.1M | $141.9M | $92.7M | $59.1M | $122.0M | $266.8M | $270.3M | $168.2M | $25.9M | $134.0M | $160.4M |
| Short-term investments | — | — | — | — | — | — | — | $635.4M | — | −$2.3M | — | — |
| Receivables | $335.3M | $257.9M | $256.8M | $278.1M | $308.7M | $290.8M | $290.0M | $327.7M | $326.4M | $439.4M | $423.9M | $410.4M |
| Inventory | $0 | $0 | $0 | $31.0M | $0 | $0 | −$19.1M | −$12.4M | $27.2M | $26.0M | $22.5M | −$305.2M |
| Other current assets | $81.4M | $78.4M | $73.2M | $45.3M | $56.7M | $55.2M | $71.9M | $66.2M | $24.4M | $20.7M | $21.9M | $370.2M |
| Total current assets | $536.0M | $436.4M | $471.9M | $447.1M | $424.5M | $468.0M | $609.6M | $651.8M | $546.2M | $512.0M | $602.3M | $635.8M |
| Property, plant & equipment (net) | $3.05B | $2.86B | $2.50B | $2.76B | $2.65B | $2.64B | $2.62B | $2.44B | $2.40B | $2.39B | $2.38B | $2.36B |
| Goodwill & intangible assets | $468.1M | $471.3M | $474.4M | $477.5M | $480.7M | $484.1M | $487.2M | $491.8M | $496.9M | $500.3M | $504.2M | $508.6M |
| Long-term investments | $0 | $101.5M | $96.2M | $107.2M | $98.3M | $91.0M | $84.1M | $93.3M | $86.4M | $85.2M | $85.5M | $81.4M |
| Other non-current assets | $656.1M | $717.6M | $1.22B | $806.3M | $824.7M | $844.7M | $795.9M | $762.0M | $745.5M | $731.8M | $723.1M | $702.3M |
| Total assets | $4.71B | $4.58B | $4.76B | $4.60B | $4.48B | $4.53B | $4.60B | $4.44B | $4.27B | $4.22B | $4.29B | $4.29B |
| Liabilities | ||||||||||||
| Accounts payable | $297.9M | $254.3M | $244.9M | $282.4M | $282.4M | $274.0M | $268.5M | $294.1M | $291.3M | $277.5M | $277.9M | $293.8M |
| Short-term debt | $172.5M | $165.0M | $168.2M | $156.7M | $148.8M | $158.9M | $168.7M | $146.3M | $162.4M | $171.4M | $176.4M | $167.4M |
| Deferred revenue | — | — | $5.7M | — | — | — | $5.5M | −$294.1M | — | — | $6.4M | −$293.8M |
| Total current liabilities | $603.8M | $529.9M | $527.4M | $540.6M | $546.9M | $546.4M | $560.4M | $577.7M | $584.5M | $530.5M | $562.3M | $570.6M |
| Long-term debt | $0 | $302.2M | $312.1M | $321.5M | $331.5M | $340.9M | $350.8M | $360.2M | $370.0M | $379.4M | $389.3M | $398.7M |
| Lease obligations | — | $355.3M | $375.3M | $357.8M | $294.1M | $325.4M | $358.5M | $257.1M | $253.2M | $280.6M | $296.0M | $313.8M |
| Other long-term liabilities | $1.34B | $1.02B | $1.16B | $1.05B | $985.7M | $1.01B | $1.03B | $947.6M | $920.9M | $936.2M | $942.3M | $933.2M |
| Total liabilities | $1.94B | $1.85B | $2.00B | $1.91B | $1.86B | $1.89B | $1.94B | $1.89B | $1.88B | $1.85B | $1.89B | $1.90B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $22.4M | $22.7M | $22.8M | $23.4M | $23.8M | $24.5M | $24.7M | $24.9M | $25.2M | $25.6M | $25.8M | $26.2M |
| Retained earnings (deficit) | $2.47B | $2.43B | $2.44B | $2.38B | $2.31B | $2.33B | $2.34B | $2.25B | $2.10B | $2.08B | $2.09B | $2.08B |
| Accumulated other comprehensive income | −$1.3M | $1.1M | $1.6M | −$8.6M | −$6.3M | −$6.8M | −$6.5M | −$10.0M | −$10.2M | −$9.8M | −$8.2M | −$9.3M |
| Total shareholders' equity | $2.77B | $2.73B | $2.76B | $2.69B | $2.62B | $2.63B | $2.65B | $2.56B | $2.40B | $2.37B | $2.40B | $2.39B |
| Key figures | ||||||||||||
| Total debt | $716.4M | $697.2M | $727.1M | $719.0M | $665.3M | $706.0M | $749.0M | $657.0M | $662.9M | $699.7M | $725.0M | $752.2M |
| Net cash (debt) | −$597.1M | −$597.1M | −$585.2M | −$626.3M | −$606.2M | −$584.0M | −$482.2M | −$386.7M | −$494.7M | −$673.8M | −$591.0M | −$591.8M |
| Working capital | −$67.8M | −$93.5M | −$55.5M | −$93.5M | −$122.4M | −$78.4M | $49.2M | $74.1M | −$38.3M | −$18.5M | $40.0M | $65.2M |
| Tangible book value | $2.31B | $2.26B | $2.28B | $2.21B | $2.14B | $2.15B | $2.16B | $2.06B | $1.90B | $1.87B | $1.90B | $1.88B |
| Book value per share | $91.52 | $89.22 | $88.71 | $84.57 | $80.80 | $79.31 | $78.69 | $75.64 | $70.13 | $68.61 | $68.40 | $67.71 |
| Shares outstanding | 30.3M | 30.6M | 31.1M | 31.8M | 32.4M | 33.2M | 33.7M | 33.8M | 34.2M | 34.6M | 35.1M | 35.3M |
| Current ratio | 0.89 | 0.82 | 0.89 | 0.83 | 0.78 | 0.86 | 1.09 | 1.13 | 0.93 | 0.97 | 1.07 | 1.11 |
| Quick ratio | 0.75 | 0.68 | 0.76 | 0.69 | 0.67 | 0.76 | 0.99 | 1.04 | 0.85 | 0.88 | 0.99 | 1.00 |
| Debt / equity | 0.26 | 0.26 | 0.26 | 0.27 | 0.25 | 0.27 | 0.28 | 0.26 | 0.28 | 0.29 | 0.30 | 0.31 |
| Equity / assets | 58.8% | 59.6% | 58.0% | 58.4% | 58.4% | 58.2% | 57.7% | 57.6% | 56.1% | 56.3% | 55.9% | 55.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 27, 2026); data from EODHD.
MATX financial position
At the end of fiscal 2025 (December 31, 2025), Matson had total assets of $4.8 billion (up 3.6% from a year earlier), total liabilities of $2.0 billion and shareholders' equity of $2.8 billion. It held $141.9 million in cash and short-term investments against $727.1 million of debt, net debt of $585.2 million. Its current ratio was 0.89. In the latest quarter (ended June 30, 2026) total assets were $4.7 billion and equity $2.8 billion.
Related: MATX income statement, MATX cash flow statement, MATX key metrics. See the MATX stock overview for the latest quote and news.
MATX balance sheet FAQ
What are Matson's total assets?
Matson reported total assets of $4.8 billion at the end of fiscal 2025 (December 31, 2025), compared with $4.6 billion a year earlier.
How much debt does Matson have?
Matson had $727.1 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.26.
How much cash does Matson have?
Matson held $141.9 million in cash and short-term investments at the end of fiscal 2025; with $727.1 million of debt that is net debt of $585.2 million.
What is Matson's book value?
Matson's shareholders' equity (book value) was $2.8 billion at the end of fiscal 2025, or $88.71 per share.
What is Matson's current ratio?
Matson had current assets of $471.9 million and current liabilities of $527.4 million, a current ratio of 0.89 (current liabilities exceed current assets).
How much goodwill does Matson have?
Matson carried $474.4 million of goodwill and intangible assets, 10.0% of total assets, at the end of fiscal 2025.