Matson Inc (MATX) is fairly valued and Navios Maritime Partners LP (NMM) is undervalued.
Against our estimates of intrinsic value, NMM trades at the wider discount: a margin of safety of +80%, against -3% for MATX.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 10.8% (average of 3 methods) values the shares at $221.12; the price of $226.78 is 3% above that value, and 70% of that value comes from beyond year five.
Leak Score 59/100 on 3 of 12 signals
Discounting its cash flows at 7.8% (average of 3 methods) values the shares at $431.38; the price of $88.11 is 80% below that value, and 82% of that value comes from beyond year five.
Leak Score 68/100 on 3 of 12 signals
| Metric | MATX | NMM |
|---|---|---|
| Verdict | Fairly valued | Undervalued |
| Price | $226.78 | $88.11 |
| Intrinsic value | $221.12 | $431.38 |
| Margin of safety | -3% | +80% |
| Leak Score | 59/100 (3/12) | 68/100 (3/12) |
| Market cap | $6.8B | $2.5B |
| Revenue growth, 5 years | 7.0% | 42.8% |
| Operating margin | 14.4% | 34.7% |
| Net margin | 13.4% | 29.6% |
| Return on equity | 17.2% | 13.2% |
| Debt to equity | 0.12 | 0.70 |
| P/E | 15.2x | 5.8x |
| Forward P/E | 13.5x | 4.3x |
| P/B | 2.5x | 0.7x |
| Dividend yield | 0.6% | 0.3% |