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Matson vs Tidewater: MATX and TDW compared
Matson is the larger company: $1.1B of revenue in its latest quarter (Q3 2026) against $342M for Tidewater (Q2 2026). Matson is growing faster (+26% against +0.3% a year earlier). Matson is more profitable, with an operating margin of 22.9% against 18.3%.
Where the money goes: MATX and TDW
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.
Tidewater (TDW) · Q2 2026
Tidewater, Q2 2026: revenue $342M (+0.3% year over year), operating margin 18.3%, net earnings $21.7M, operating cash flow $67.0M. The chart follows the revenue to costs, profit and cash.
| Matson (MATX) | Tidewater (TDW) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q2 2026 |
| Revenue | $1.1B | $342M |
| Revenue growth, Y/Y | +26% | +0.3% |
| Operating margin | 22.9% | 18.3% |
| Net earnings | $209M | $21.7M |
| Net margin | 18.8% | 6.3% |
| Operating cash flow | $229M | $67.0M |
| Free cash flow | $176M | $52.1M |
| Market value | $6.4B | $3.5B |
| P/E | 11.8× | 14.3× |
| Analysts’ mean target | $292.50 | $96.75 |
Where the revenue comes from
Matson
- Ocean Transportation: $891M (80%)
- Logistics: $222M (20%)
Tidewater
- Vessel: $340M (99%)
- Product and Service, Other: $2.6M (1%)
Questions
Which is bigger, Matson or Tidewater?
Matson is the larger company: $1.1B of revenue in its latest quarter (Q3 2026) against $342M for Tidewater (Q2 2026).
Is Matson or Tidewater growing faster?
Matson is growing faster (+26% against +0.3% a year earlier).
Which is more profitable, Matson or Tidewater?
Matson is more profitable, with an operating margin of 22.9% against 18.3%.
More: Matson earnings · how Matson makes money · Tidewater earnings · how Tidewater makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 5, 2026; 10-Q filed Aug 3, 2026). Fiscal quarters can end on different dates. Not investment advice.