James Hardie Industries PLC (JHX) intrinsic value & 10-year financials
James Hardie Industries PLC (JHX) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue grew 10.8% a year to $4.8B, with an average return on invested capital of 30.0%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $25.82
- Market cap
- $14.1B
- Revenue (FY2026)
- $4.8B
- Revenue growth (10-yr CAGR)
- 10.8%
- ROIC (10-yr avg)
- 30.0%
- Free cash flow (FY2026)
- $205.9M
JHX 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2026 | $4.8B | $104.0M | $0.19 | $205.9M | 9.3% | 3.3% |
| FY2025 | $3.9B | $424.0M | $0.98 | $380.6M | 16.9% | 15.8% |
| FY2024 | $3.9B | $510.2M | $1.16 | $464.9M | 19.5% | 19.6% |
| FY2023 | $3.8B | $512.0M | $1.15 | $16.3M | 19.6% | 22.0% |
| FY2022 | $3.6B | $459.1M | $1.03 | $499.4M | 18.9% | 24.9% |
| FY2021 | $2.9B | $262.8M | $0.59 | $676.2M | 16.3% | 14.9% |
| FY2020 | $2.6B | $241.5M | $0.54 | $257.4M | 13.1% | 12.6% |
| FY2019 | $2.5B | $228.8M | $0.52 | -$13.5M | 14.0% | 20.1% |
| FY2018 | $2.1B | $146.1M | $0.33 | $91.3M | 11.2% | 58.7% |
| FY2017 | $1.9B | $276.5M | $0.62 | $190.2M | 20.5% | 108.4% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
James Hardie Industries plc is a consistent compounder, expanding top-line revenue at 10.8% annually over the past decade.
James Hardie Industries plc has earned high returns on invested capital, averaging 30.0% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
Over the decade, James Hardie Industries plc shows that the company has leveraged its balance sheet to sustain operations.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, James Hardie Industries plc is modeled at -12.3% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-2.64 per share.