MATX vs ZIM: Matson and ZIM Integrated Shipping Services 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 1.9 times ZIM Integrated Shipping Services.
- Matson grew revenue faster over the last year (+16.7% vs -18.1%).
- Matson keeps more of each dollar of revenue as operating profit (15.2% vs 14.7%).
- On earnings, ZIM Integrated Shipping Services is the cheaper stock (7.5x vs 16.6x).
- Matson's price assumes faster free cash flow growth: about 15% a year, against -33% for ZIM Integrated Shipping Services (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 | ZIM |
|---|---|---|
| Market cap | $6.8B | $3.5B |
| Share price | $225.67 | $29.99 |
| Revenue (last fiscal year) | $3.3B | $6.9B |
| Free cash flow (last fiscal year) | $154M | $2.1B |
| Revenue growth, last year | +16.7% | -18.1% |
| Revenue growth per year, last 5 fiscal years | -3.9% | -10.4% |
| Operating margin | 15.2% | 14.7% |
| Net margin | 13.4% | 6.9% |
| Return on equity | 16.7% | 11.9% |
| P/E (trailing) | 16.6x | 7.54x |
| Price / free cash flow | 44.0x | 2.20x |
| EV / EBITDA | 10.2x | 3.05x |
| FCF growth the price implies | 15.3% | -33.2% |
| Dividend yield | 0.62% | 4.2% |
| Debt / equity | 0.70x | 1.74x |
| Fundamental grade | C | C |
| Superinvestors holding it | 3 | 0 |
| Insider purchases, last 12 months | 0 | 0 |
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% |
ZIM Integrated Shipping Services
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $10.7B | $5.0B | 54.2% |
| 2022 | $12.6B | $5.8B | 48.8% |
| 2023 | $5.2B | $904M | -48.6% |
| 2024 | $8.4B | $3.5B | 30.0% |
| 2025 | $6.9B | $2.1B | 14.7% |
Where the revenue comes from
Matson · by segments, 2025
Ocean Transportation$2.7B82%
Logistics$609M18%
ZIM Integrated Shipping Services · by products, 2022
Shipping$12.4B99%
Other Services$170M1%
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 ZIM Integrated Shipping Services?
Matson (MATX), at $6.8B against $3.5B.
Is MATX or ZIM cheaper?
By trailing P/E, ZIM Integrated Shipping Services (7.54x) is cheaper than Matson (16.6x). A lower multiple can also mean the market expects less growth.
Which grows faster, MATX or ZIM?
Matson: revenue grew +16.7% over the last year, against -18.1%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.