MATX vs NMM: Matson and Navios Maritime Partners LP Unit compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Matson is the larger company, worth $6.8B, about 2.4 times Navios Maritime Partners LP Unit.
- Matson grew revenue faster over the last year (+16.7% vs +0.8%).
- On earnings, Navios Maritime Partners LP Unit is the cheaper stock (10.2x vs 16.6x).
- Matson's price assumes faster free cash flow growth: about 15% a year, against -4% for Navios Maritime Partners LP Unit (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | MATX | NMM |
|---|---|---|
| Market cap | $6.8B | $2.8B |
| Share price | $225.67 | $93.06 |
| Revenue (last fiscal year) | $3.3B | $1.3B |
| Free cash flow (last fiscal year) | $154M | $281M |
| Revenue growth, last year | +16.7% | +0.8% |
| Revenue growth per year, last 5 fiscal years | -3.9% | +17.2% |
| Operating margin | 15.2% | — |
| Net margin | 13.4% | 21.2% |
| Return on equity | 16.7% | — |
| P/E (trailing) | 16.6x | 10.2x |
| Price / free cash flow | 44.0x | — |
| EV / EBITDA | 10.2x | 4.45x |
| FCF growth the price implies | 15.3% | -4.2% |
| Dividend yield | 0.62% | 0.24% |
| Debt / equity | 0.70x | — |
| Fundamental grade | C | B |
| Superinvestors holding it | 3 | 0 |
| Insider purchases, last 12 months | 0 | 10 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Matson
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $3.9B | $978M | 30.3% |
| 2022 | $4.3B | $1.3B | 31.2% |
| 2023 | $3.1B | $500M | 11.1% |
| 2024 | $3.4B | $458M | 16.1% |
| 2025 | $3.3B | $154M | 14.9% |
Navios Maritime Partners LP Unit
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $713M | $60M | 95.9% |
| 2022 | $1.2B | $73M | 95.3% |
| 2023 | $1.3B | $377M | 94.7% |
| 2024 | $1.3B | -$264M | 94.2% |
| 2025 | $1.3B | $281M | — |
Where the revenue comes from
Matson · by segments, 2025
Ocean Transportation$2.7B82%
Logistics$609M18%
Navios Maritime Partners LP Unit · by regions, 2022
Asia$768M63%
Europe$277M23%
America$165M14%
Other$459,0000%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open MATX in InvestinglyQuestions
Which is bigger, Matson or Navios Maritime Partners LP Unit?
Matson (MATX), at $6.8B against $2.8B.
Is MATX or NMM cheaper?
By trailing P/E, Navios Maritime Partners LP Unit (10.2x) is cheaper than Matson (16.6x). A lower multiple can also mean the market expects less growth.
Which grows faster, MATX or NMM?
Matson: revenue grew +16.7% over the last year, against +0.8%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.