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Matson vs Kirby: MATX and KEX compared
Matson is the larger company: $1.1B of revenue in its latest quarter (Q3 2026) against $977M for Kirby (Q3 2026). Matson is growing faster (+26% against +12% a year earlier). Matson is more profitable, with an operating margin of 22.9% against 15.4%.
Where the money goes: MATX and KEX
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.
Kirby (KEX) · Q3 2026
Kirby, Q3 2026: revenue $977M (+12% year over year), operating margin 15.4%, net earnings $111M, operating cash flow $143M. The chart follows the revenue to costs, profit and cash.
| Matson (MATX) | Kirby (KEX) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $1.1B | $977M |
| Revenue growth, Y/Y | +26% | +12% |
| Operating margin | 22.9% | 15.4% |
| Net earnings | $209M | $111M |
| Net margin | 18.8% | 11.3% |
| Operating cash flow | $229M | $143M |
| Free cash flow | $176M | $74.0M |
| Market value | $6.4B | $6.4B |
| P/E | 11.8× | 17.2× |
| Analysts’ mean target | $292.50 | $174.71 |
Where the revenue comes from
Matson
- Ocean Transportation: $891M (80%)
- Logistics: $222M (20%)
Kirby
- Marine Transportation: $569M (58%)
- Distribution and Services: $408M (42%)
Questions
Which is bigger, Matson or Kirby?
Matson is the larger company: $1.1B of revenue in its latest quarter (Q3 2026) against $977M for Kirby (Q3 2026).
Is Matson or Kirby growing faster?
Matson is growing faster (+26% against +12% a year earlier).
Which is more profitable, Matson or Kirby?
Matson is more profitable, with an operating margin of 22.9% against 15.4%.
More: Matson earnings · how Matson makes money · Kirby earnings · how Kirby makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 5, 2026; 10-Q filed Nov 6, 2026). Fiscal quarters can end on different dates. Not investment advice.