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International Seaways vs Matson: revenue, profit, margins and growth compared

International Seaways brought in $843.3M of revenue in fiscal 2025, Matson $3.3B in fiscal 2025. Revenue changed by -11.4% at International Seaways and -2.3% at Matson on the year before, so Matson grew faster. International Seaways kept 36.7% of its revenue as net profit, Matson 13.3%.

Side by side, latest fiscal year

INSWMATX
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$843.3M$3.3B
Revenue growth-11.4%-2.3%
Net income$309.3M$444.8M
Net margin36.7%13.3%
Free cash flown/a$153.7M
Free cash flow marginn/a4.6%
Earnings per share (diluted)$6.23$13.81
Cash$116.9M$141.9M
Debt$567.1M$361.2M
Price to earnings17.016.3
Market value$5.2B$6.7B
Dividend yield2.77%0.62%
Rank by revenue in sector#487 of 778 · Consumer discretionary#272 of 778 · Consumer discretionary

Over the years

Revenue
INSW FY2018: $270.4MINSW FY2019: $366.2MINSW FY2020: $421.6MINSW FY2021: $272.5MINSW FY2022: $864.7MINSW FY2023: $1.1BINSW FY2024: $951.6MINSW FY2025: $843.3MMATX FY2018: $2.2BMATX FY2019: $2.2BMATX FY2020: $2.4BMATX FY2021: $3.9BMATX FY2022: $4.3BMATX FY2023: $3.1BMATX FY2024: $3.4BMATX FY2025: $3.3BFY18FY19FY20FY21FY22FY23FY24FY25
INSW $843.3MMATX $3.3B
Net income
INSW FY2018: -$88.9MINSW FY2019: -$830KINSW FY2020: -$5.5MINSW FY2021: -$133.5MINSW FY2022: $387.9MINSW FY2023: $556.4MINSW FY2024: $416.7MINSW FY2025: $309.3MMATX FY2018: $109MMATX FY2019: $82.7MMATX FY2020: $193.1MMATX FY2021: $927.4MMATX FY2022: $1.1BMATX FY2023: $297.1MMATX FY2024: $476.4MMATX FY2025: $444.8MFY18FY19FY20FY21FY22FY23FY24FY25
INSW $309.3MMATX $444.8M
Net margin
INSW FY2018: -32.9%INSW FY2019: -0.2%INSW FY2020: -1.3%INSW FY2021: -49.0%INSW FY2022: 44.9%INSW FY2023: 51.9%INSW FY2024: 43.8%INSW FY2025: 36.7%MATX FY2018: 4.9%MATX FY2019: 3.8%MATX FY2020: 8.1%MATX FY2021: 23.6%MATX FY2022: 24.5%MATX FY2023: 9.6%MATX FY2024: 13.9%MATX FY2025: 13.3%FY18FY19FY20FY21FY22FY23FY24FY25
INSW 36.7%MATX 13.3%
Revenue growth
INSW FY2019: +35.4%INSW FY2020: +15.1%INSW FY2021: -35.4%INSW FY2022: +217.3%INSW FY2023: +24.0%INSW FY2024: -11.2%INSW FY2025: -11.4%MATX FY2019: -0.9%MATX FY2020: +8.2%MATX FY2021: +64.7%MATX FY2022: +10.6%MATX FY2023: -28.7%MATX FY2024: +10.6%MATX FY2025: -2.3%FY19FY20FY21FY22FY23FY24FY25
INSW -11.4%MATX -2.3%
Free cash flow
INSW FY2018: -$161.4MMATX FY2022: $1.1BMATX FY2023: $262.1MMATX FY2024: $457.7MMATX FY2025: $153.7MFY18FY22FY23FY24FY25
INSW -$161.4MMATX $153.7M

Fiscal years as each company reports them; the two may end in different months.

Questions about International Seaways and Matson

Which is bigger by revenue, International Seaways or Matson?

Matson is bigger by revenue: $3.3B in fiscal 2025, against $843.3M for International Seaways in fiscal 2025.

Which keeps more of its revenue as profit, International Seaways or Matson?

International Seaways had a net margin of 36.7% in fiscal 2025; Matson had 13.3% in fiscal 2025.

Which grew revenue faster, International Seaways or Matson?

In their latest fiscal years revenue changed by -11.4% at International Seaways and -2.3% at Matson.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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