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Matson vs Viking: revenue, profit, margins and growth compared

Matson brought in $3.3B of revenue in fiscal 2025, Viking $6.5B in fiscal 2025. Revenue changed by -2.3% at Matson and +21.9% at Viking on the year before, so Viking grew faster. Matson kept 13.3% of its revenue as net profit, Viking 17.7%.

Side by side, latest fiscal year

MATXVIK
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$3.3B$6.5B
Revenue growth-2.3%+21.9%
Net income$444.8M$1.1B
Net margin13.3%17.7%
Free cash flow$153.7Mn/a
Free cash flow margin4.6%n/a
Earnings per share (diluted)$13.81$2.57
Cash$141.9M$3.8B
Debt$361.2M$5.7B
Price to earnings16.3n/a
Market value$6.7B$35.8B
Dividend yield0.62%n/a
Rank by revenue in sector#272 of 778 · Consumer discretionary#165 of 778 · Consumer discretionary

Over the years

Revenue
MATX FY2018: $2.2BMATX FY2019: $2.2BMATX FY2020: $2.4BMATX FY2021: $3.9BMATX FY2022: $4.3BMATX FY2023: $3.1BMATX FY2024: $3.4BMATX FY2025: $3.3BVIK FY2022: $3.2BVIK FY2024: $4.7BVIK FY2024: $5.3BVIK FY2025: $6.5BFY18FY19FY20FY21FY22FY23FY24FY25
MATX $3.3BVIK $6.5B
Net income
MATX FY2018: $109MMATX FY2019: $82.7MMATX FY2020: $193.1MMATX FY2021: $927.4MMATX FY2022: $1.1BMATX FY2023: $297.1MMATX FY2024: $476.4MMATX FY2025: $444.8MVIK FY2022: $414.7MVIK FY2024: -$1.9BVIK FY2024: $152.3MVIK FY2025: $1.1BFY18FY19FY20FY21FY22FY23FY24FY25
MATX $444.8MVIK $1.1B
Net margin
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%VIK FY2022: 13.1%VIK FY2024: -39.3%VIK FY2024: 2.9%VIK FY2025: 17.7%FY18FY19FY20FY21FY22FY23FY24FY25
MATX 13.3%VIK 17.7%
Revenue growth
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%VIK FY2024: +48.3%VIK FY2024: +13.2%VIK FY2025: +21.9%FY19FY20FY21FY22FY23FY24FY25
MATX -2.3%VIK +21.9%
Free cash flow
MATX FY2022: $1.1BMATX FY2023: $262.1MMATX FY2024: $457.7MMATX FY2025: $153.7MFY22FY23FY24FY25
MATX $153.7MVIK

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

Questions about Matson and Viking

Which is bigger by revenue, Matson or Viking?

Viking is bigger by revenue: $6.5B in fiscal 2025, against $3.3B for Matson in fiscal 2025.

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

Matson had a net margin of 13.3% in fiscal 2025; Viking had 17.7% in fiscal 2025.

Which grew revenue faster, Matson or Viking?

In their latest fiscal years revenue changed by -2.3% at Matson and +21.9% at Viking.

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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