Jack Henry & Associates Inc. (JKHY) intrinsic value & 10-year financials
Jack Henry & Associates Inc. (JKHY) has a Graham intrinsic value of $131.90 per share. At $153.19 on Oct 17, 2026, the stock trades 16% above that value. Over the last 10 fiscal years revenue grew 6.4% a year to $2.4B, with an average return on invested capital of 24.3%.
- Graham intrinsic value
- $131.90
- Share price (Oct 17, 2026)
- $153.19
- Price vs Graham value
- 16% above
- Market cap
- $11.2B
- Revenue (FY2025)
- $2.4B
- Revenue growth (10-yr CAGR)
- 6.4%
- ROIC (10-yr avg)
- 24.3%
- Free cash flow (FY2025)
- $588.1M
JKHY 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $2.4B | $455.7M | $6.24 | $588.1M | 23.9% | 21.7% |
| FY2024 | $2.2B | $381.8M | $5.23 | $509.9M | 22.1% | 19.4% |
| FY2023 | $2.1B | $366.6M | $5.02 | $342.4M | 23.1% | 22.4% |
| FY2022 | $1.9B | $362.9M | $4.94 | $470.0M | 24.4% | 25.9% |
| FY2021 | $1.8B | $311.5M | $4.12 | $439.1M | 22.7% | 23.1% |
| FY2020 | $1.7B | $296.7M | $3.86 | $457.0M | 22.4% | 22.2% |
| FY2019 | $1.6B | $271.9M | $3.52 | $377.5M | 22.4% | 21.2% |
| FY2018 | $1.5B | $376.7M | $4.85 | $372.0M | 26.7% | 34.3% |
| FY2017 | $1.4B | $245.8M | $3.14 | $315.4M | 26.5% | 26.0% |
| FY2016 | $1.4B | $248.9M | $3.12 | $308.8M | 26.7% | 27.0% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Jack Henry & Associates has demonstrated mature, steady growth, with revenue compounding at 6.4% annually over the past decade.
Jack Henry & Associates has earned high returns on invested capital, averaging 24.3% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
Jack Henry & Associates has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Jack Henry & Associates is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $131.90 per share.