Matson (MATX) FY2020 results: revenue $2.4 billion, up 8.2% on the year
Matson, Inc. (MATX) reported revenue of $2.4 billion for fiscal 2020, the year ended 31 December 2020, up 8.2% on the year before. Net income was $193 million, up 133.5%, and diluted earnings per share $4.44. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2021.
Revenue
$2.4 billion
+8.2% on the year
FY2013FY2020
Operating margin
11.8%
5.9% a year earlier
FY2013FY2020
Net income
$193 million
+133.5% on the year
FY2013FY2020
Diluted EPS
$4.44
+132.5% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
2,383
2,203
2,223
+8.2%
Selling, general and administrative
225
217
221
+3.8%
Operating income
280
129
164
+117.1%
Operating margin
11.8%
5.9%
7.4%
Interest expense
27.4
22.5
18.7
+21.8%
Pre-tax income
259
108
148
+140.3%
Income tax
65.9
25.1
38.7
+162.5%
Effective tax rate
25.4%
23.3%
26.2%
Net income
193
82.7
109
+133.5%
Net margin
8.1%
3.8%
4.9%
Diluted EPS
$4.44
$1.91
$2.53
+132.5%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
430
249
305
+72.7%
Cash from investing
-177
-307
-260
Cash from financing
-262
62.0
-40.0
Depreciation and amortisation
115
100
94.4
+14.4%
Share-based compensation
18.8
11.3
12.1
+66.4%
Dividends paid
39.2
37.2
35.4
+5.4%
Dividend per share
$0.90
$0.86
$0.82
+4.7%
Diluted shares, weighted
44m
43m
43m
+0.5%
Shares outstanding at period end
43m
43m
43m
+0.7%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
961
806
755
+19.3%
Short-term borrowings
59.2
48.4
42.1
+22.3%
Debt
760
958
856
-20.7%
Operating lease liabilities
187
198
n/a
-5.6%
Other liabilities
933
835
777
+11.8%
Total liabilities and equity
2,901
2,845
2,430
+1.9%
Fixed assets
1,690
1,598
1,367
+5.7%
Goodwill
328
328
328
0.0%
Intangible assets
192
203
214
-5.4%
Cash and equivalents
14.4
21.2
19.6
-32.1%
Receivables
253
206
224
+23.1%
Other assets
423
490
279
-13.6%
Total assets
2,901
2,845
2,430
+1.9%
10-K for the year ended 31 December 2020, filed 26 February 2021: the filing.