MATX vs NCLH
Matson, Inc. and Norwegian Cruise Line Holdings Ltd., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | MATX | NCLH |
|---|---|---|
| Revenue | $3.3B | $9.8B |
| Net income | $444.8M | $423.2M |
| Gross margin | 114.8% | 42.6% |
| Net margin | 13.3% | 4.3% |
| Return on equity | 16.4% | 23.3% |
| Diluted EPS | $13.81 | $0.92 |
| Dividend / share | $1.40 | · |
| Payout ratio | 10.1% | · |
| Free cash flow | $153.7M | $-1.2B |
| Equity | $2.8B | $2.2B |
| Net debt / equity | 0.08× | 6.12× |
| Current ratio | 0.89× | 0.21× |
| Revenue CAGR 5y | 7.0% | 50.3% |
| Profit CAGR 5y | 18.2% | · |
NCLH bills 2.9× the revenue of MATX, and MATX keeps more of each dollar of revenue as profit (13.3% against 4.3%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | MATX | NCLH |
|---|---|---|
| FY2025 | $3.3B | $9.8B |
| FY2024 | $3.4B | $9.5B |
| FY2023 | $3.1B | $8.5B |
| FY2022 | $4.3B | $4.8B |
| FY2021 | $3.9B | $648.0M |
| FY2020 | $2.4B | $1.3B |
| FY2019 | $2.2B | $6.5B |
| FY2018 | $2.2B | $6.1B |
| FY2017 | $2.0B | $5.4B |
| FY2016 | $1.9B | $4.9B |
Bottom line
| Fiscal year | MATX | NCLH |
|---|---|---|
| FY2025 | $444.8M | $423.2M |
| FY2024 | $476.4M | $910.3M |
| FY2023 | $297.1M | $166.2M |
| FY2022 | $1.1B | $-2.3B |
| FY2021 | $927.4M | $-4.5B |
| FY2020 | $193.1M | $-4.0B |
| FY2019 | $82.7M | $930.2M |
| FY2018 | $109.0M | $954.8M |
| FY2017 | $231.0M | $759.9M |
| FY2016 | $81.4M | $633.1M |
15 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$6,483,092,000 | NCLH |
| FY2024 | −$6,057,851,000 | NCLH |
| FY2023 | −$5,455,324,000 | NCLH |
| FY2022 | −$500,760,000 | NCLH |
| FY2021 | +$3,277,314,000 | MATX |
| FY2020 | +$1,103,392,000 | MATX |
| FY2019 | −$4,259,276,000 | NCLH |
| FY2018 | −$3,832,326,000 | NCLH |
| FY2017 | −$3,349,275,000 | NCLH |
| FY2016 | −$2,932,740,000 | NCLH |
| FY2015 | −$2,460,148,000 | NCLH |
| FY2014 | −$1,411,681,000 | NCLH |
| FY2013 | −$933,094,000 | NCLH |
| FY2012 | −$716,246,000 | NCLH |
| FY2011 | −$756,724,000 | NCLH |
The higher-revenue side has changed between MATX and NCLH over this period. The gap has widened since the earliest year compared.
15 of 18 comparable fiscal years — a year missing data on either side is not counted.
10 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +9.0 pp | MATX |
| FY2024 | +4.3 pp | MATX |
| FY2023 | +7.7 pp | MATX |
| FY2020 | +321.6 pp | MATX |
| FY2019 | −10.6 pp | NCLH |
| FY2018 | −10.9 pp | NCLH |
| FY2017 | −2.8 pp | NCLH |
| FY2016 | −8.8 pp | NCLH |
| FY2012 | −4.5 pp | NCLH |
| FY2011 | −3.4 pp | NCLH |
The higher net margin has changed hands between MATX and NCLH over this period.
10 of 18 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
NCLH's net margin has been more volatile than MATX's over the 10 comparable fiscal years — 97.0 percentage points of standard deviation against 4.2.
10 of 18 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between MATX and NCLH over these 10 fiscal years — MATX led in 4 and NCLH in 6.
10 of 18 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
NCLH's return on equity has been more volatile than MATX's over the 15 comparable fiscal years — 71.6 percentage points of standard deviation against 17.5.
15 of 18 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between MATX and NCLH over these 15 fiscal years — MATX led in 8 and NCLH in 7.
15 of 18 comparable fiscal years — a year missing data on either side is not counted.