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Matson vs International Seaways: MATX and INSW compared
Matson is the larger company: $1.1B of revenue in its latest quarter (Q3 2026) against $483M for International Seaways (Q3 2026). International Seaways is growing faster (+146% against +26% a year earlier). International Seaways is more profitable, with an operating margin of 72.7% against 22.9%.
Where the money goes: MATX and INSW
Matson (MATX) · Q3 2026
Matson, Q3 2026: revenue $1.1B (+26% year over year), operating margin 22.9%, net earnings $209M, operating cash flow $229M. The chart follows the revenue to costs, profit and cash.
International Seaways (INSW) · Q3 2026
International Seaways, Q3 2026: revenue $483M (+146% year over year), operating margin 72.7%, net earnings $344M, operating cash flow $243M. The chart follows the revenue to costs, profit and cash.
| Matson (MATX) | International Seaways (INSW) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $1.1B | $483M |
| Revenue growth, Y/Y | +26% | +146% |
| Operating margin | 22.9% | 72.7% |
| Net earnings | $209M | $344M |
| Net margin | 18.8% | 71.2% |
| Operating cash flow | $229M | $243M |
| Free cash flow | $176M | $234M |
| Market value | $6.4B | $4.9B |
| P/E | 11.8× | 6.3× |
| Analysts’ mean target | $292.50 | $131.33 |
Where the revenue comes from
Matson
- Ocean Transportation: $891M (80%)
- Logistics: $222M (20%)
International Seaways
- Pool Revenue Leases: $216M (45%)
- Voyage charter revenues: $154M (32%)
- Time and Bareboat Charter Leases: $114M (24%)
Questions
Which is bigger, Matson or International Seaways?
Matson is the larger company: $1.1B of revenue in its latest quarter (Q3 2026) against $483M for International Seaways (Q3 2026).
Is Matson or International Seaways growing faster?
International Seaways is growing faster (+146% against +26% a year earlier).
Which is more profitable, Matson or International Seaways?
International Seaways is more profitable, with an operating margin of 72.7% against 22.9%.
More: Matson earnings · how Matson makes money · International Seaways earnings · how International Seaways makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 5, 2026; 10-Q filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.