Janus Henderson Group plc (JHG) 10-Year Financial Performance & Capital Metrics

JHG • • Banking & Credit

Financial ServicesAsset ManagementTraditional Asset ManagementGlobal Diversified Asset Managers

AboutJanus Henderson Group plc is an asset management holding entity. Through its subsidiaries, the firm provides services to institutional, retail clients, and high net worth clients. It manages separate client-focused equity and fixed income portfolios. The firm also manages equity, fixed income, and balanced mutual funds for its clients. It invests in public equity and fixed income markets, as well as invests in real estate and private equity. Janus Henderson Group plc was founded in 1934 and is based in London, United Kingdom with additional offices in Jersey, United Kingdom and Sydney, Australia.Show more

Net Interest Income -$18M -41.7%
Total Revenue $2.47B +17.7%
Net Income $409M +4.3%
Return on Equity 8.23% -0.8%
Net Interest Margin -0.26% -32.2%
Efficiency Ratio 42.58% -8.4%
ROA 6.08% -1.3%
Equity / Assets 73% -2.3%
Book Value per Share 32.63 +7.8%
Tangible BV/Share 6.80 -3.8%
Debt/Equity 0.10 +21.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Efficient operations: 42.6% efficiency ratio
✓Well capitalized: 73.0% equity/assets
✓Healthy dividend yield of 3.4%
✓Share count reduced 2.9% through buybacks
✓Diversified revenue: 100.0% from non-interest income

✗Weaknesses

✗Weak NIM of -0.3%

Price & Volume

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Growth Metrics

Revenue CAGR

10Y9.33%

5Y2.44%

3Y-3.67%

TTM-

Profit (Net Income) CAGR

10Y0.16%

5Y-0.89%

3Y-12.96%

TTM30.88%

EPS CAGR

10Y-3.16%

5Y2.98%

3Y-10.49%

TTM34.78%

ROCE

10Y Avg10.28%

5Y Avg8.68%

3Y Avg9.19%

Latest10.68%

Peer Comparison

Global Diversified Asset Managers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
SIISprott Inc.	2.97B	115.19	60.31	19.02%	29.28%	14.59%	2.27%
EMBJEmbraer S.A.	13.36B	73.93	38.51	21.38%	5.51%	10.43%	3.03%	0.78
BENFranklin Resources, Inc.	13.54B	25.97	28.54	3.45%	5.98%	3.61%	6.73%	0.94
BLKBlackRock, Inc.	179.4B	1156.65	27.53	14.27%	31.21%	9.86%	2.62%	0.29
IVZInvesco Ltd.	13.08B	29.39	24.91	6.13%	12.77%	6.75%	8.57%	0.48
SEICSEI Investments Company	10.6B	86.54	19.62	10.7%	27.35%	28.87%	5.34%	0.01
JHGJanus Henderson Group plc	7.15B	47.89	18.71	17.67%	16.53%	9.41%	9.57%	0.10
STTState Street Corporation	38.07B	136.29	16.60	19.64%	12.23%	10.78%		1.45

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	-20.1M	-6.6M	-11.9M	-15.7M	-15.1M	-12.9M	-12.8M	-12.6M	-12.7M	-18M
NII Growth %	-0.66%	0.67%	-0.8%	-0.32%	0.04%	0.15%	0.01%	0.02%	-0.01%	-0.42%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	20.1M	6.6M	11.9M	15.7M	15.1M	12.9M	12.8M	12.6M	12.7M	18M
Loan Loss Provision	345.3M	313.1M	575.2M	644.2M	635.3M	655.7M	732.1M	648.3M	628M	756.3M
Non-Interest Income+	1.16B	1.02B	1.82B	2.31B	2.19B	2.3B	2.77B	2.2B	2.1B	2.47B
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	1.16B	1.02B	1.82B	2.31B	2.19B	2.3B	2.77B	2.2B	2.1B	2.47B
Revenue Growth %	0.14%	-0.12%	0.79%	0.27%	-0.05%	0.05%	0.2%	-0.2%	-0.05%	0.18%
Non-Interest Expense	472.4M	466.4M	788.9M	996.7M	1B	1.5B	1.2B	1.05B	977.4M	1.05B
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	317.3M	232.1M	442.3M	649.8M	540.9M	128.3M	820.9M	489.8M	483.7M	645.7M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.62%	-0.27%	0.91%	0.47%	-0.17%	-0.76%	5.4%	-0.4%	-0.01%	0.33%
Pretax Income+	337.5M	211.9M	447.4M	661.8M	583.5M	203.5M	817.7M	375.4M	527M	611.9M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	6.1M	34.6M	-211M	162.2M	137.8M	52.2M	205.3M	100.9M	100.3M	166.3M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	329.8M	189M	655.5M	523.8M	427.6M	130.3M	620M	372.4M	392M	408.9M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.18%	-0.43%	2.47%	-0.2%	-0.18%	-0.7%	3.76%	-0.4%	0.05%	0.04%
Net Income (Continuing)	331.4M	177.3M	658.4M	499.6M	445.7M	151.3M	612.4M	274.5M	426.7M	445.6M
EPS (Diluted)+	2.78	1.66	3.93	2.61	2.21	0.70	3.57	2.23	2.37	2.56
EPS Growth %	-0.21%	-0.4%	1.37%	-0.34%	-0.15%	-0.68%	4.1%	-0.38%	0.06%	0.08%
EPS (Basic)	2.93	1.69	3.97	2.62	2.21	0.70	3.59	2.23	2.37	2.57
Diluted Shares Outstanding	115.4M	111.1M	162.3M	195.9M	188.6M	179.9M	168.5M	162M	160.5M	155.8M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	565.34M	323.2M	794.2M	916.6M	796.5M	1.11B	1.12B	1.18B	1.17B	1.23B
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	315.86M	393.55M	700.1M	574.5M	1.18B	482.7M	702.3M	595.9M	716.6M	839.2M
Investments Growth %	0.12%	0.25%	0.78%	-0.18%	1.05%	-0.59%	0.45%	-0.15%	0.2%	0.17%
Long-Term Investments	4.3M	246.76K	0	0	0	0	0	0	0	0
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	824.75M	741.5M	1.53B	1.48B	1.5B	1.38B	1.34B	1.25B	1.29B	1.55B
Intangible Assets	183.56M	401.3M	3.2B	3.12B	3.09B	2.69B	2.54B	2.41B	2.43B	2.47B
PP&E (Net)	21.33M	41.2M	70.6M	69.5M	84.7M	77.9M	63.3M	51.8M	44.2M	39.4M
Other Assets	192.74M	161.31M	220.8M	222M	363.3M	349M	345.7M	303.4M	275.2M	260.5M
Total Current Assets	1.22B	1.06B	2.24B	2.02B	2.58B	2.19B	2.41B	2.21B	2.46B	2.64B
Total Non-Current Assets	1.28B	1.37B	5.03B	4.89B	5.04B	4.5B	4.29B	4.02B	4.04B	4.32B
Total Assets+	2.51B	2.43B	7.27B	6.91B	7.62B	6.69B	6.7B	6.24B	6.5B	6.96B
Asset Growth %	-0.02%	-0.03%	1.99%	-0.05%	0.1%	-0.12%	0%	-0.07%	0.04%	0.07%
Return on Assets (ROA)	0.13%	0.08%	0.14%	0.07%	0.06%	0.02%	0.09%	0.06%	0.06%	0.06%
Accounts Payable	431.56M	26.2M	21.5M	6.5M	57.1M	3.2M	2.6M	4.3M	3.2M	4.7M
Total Debt+	222.08M	0	379.2M	320.2M	471.4M	458.5M	444.1M	399.1M	382.5M	486.5M
Net Debt	-343.26M	-323.2M	-415M	-596.4M	-325.1M	-649.6M	-674.5M	-777.3M	-785.6M	-748.3M
Long-Term Debt	0	0	322M	319.1M	316.2M	313.3M	310.4M	307.5M	304.6M	395M
Short-Term Debt	222.08M	0	57.2M	0	0	0	0	0	0	0
Other Liabilities	76.15M	59.6M	127.2M	137.6M	93.1M	84.8M	80.3M	81.6M	79.9M	105.8M
Total Current Liabilities	830.09M	452.8M	1.01B	728.4M	769.7M	727.8M	785.6M	610.5M	631M	735M
Total Non-Current Liabilities	122.96M	130.3M	1.2B	1.19B	1.27B	1.14B	1.11B	1.03B	1.01B	1.15B
Total Liabilities	953.05M	583.1M	2.21B	1.92B	2.04B	1.87B	1.9B	1.64B	1.64B	1.88B
Total Equity+	1.55B	1.85B	5.07B	5B	5.58B	4.82B	4.8B	4.6B	4.86B	5.08B
Equity Growth %	-0.02%	0.19%	1.74%	-0.01%	0.12%	-0.14%	-0%	-0.04%	0.06%	0.05%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.21%	0.11%	0.19%	0.1%	0.08%	0.03%	0.13%	0.08%	0.08%	0.08%
Book Value per Share	13.45	16.65	31.21	25.51	29.61	26.79	28.50	28.37	30.25	32.63
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	209.63M	234.4M	300.6M	294.6M	280.5M	270.6M	253.6M	248.5M	245M	237.2M
Additional Paid-in Capital	1.11B	1.24B	3.84B	3.82B	3.83B	3.81B	3.77B	3.71B	3.72B	3.75B
Retained Earnings	356.6M	764.8M	1.15B	1.31B	1.28B	1.06B	1.04B	1.06B	1.14B	1.1B
Accumulated OCI	20.59M	-434.5M	-301.8M	-423.5M	-367.1M	-324M	-387M	-647.7M	-563.6M	-485.2M
Treasury Stock	-158.37M	-155.1M	-155.8M	-170.8M	-139.5M	-107.3M	-55.1M	-8.3M	-1.1M	-900K
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	388.9M	235.1M	444.1M	670.8M	463.2M	645.7M	895.4M	473.3M	441.6M	694.6M
Operating CF Growth %	1.03%	-0.4%	0.89%	0.51%	-0.31%	0.39%	0.39%	-0.47%	-0.07%	0.57%
Net Income	331.4M	177.3M	658.4M	499.6M	445.7M	151.3M	612.4M	274.5M	426.7M	445.6M
Depreciation & Amortization	23.4M	27.8M	52.8M	62.6M	62.6M	49.2M	40.7M	31.7M	22.9M	24.5M
Deferred Taxes	-8.1M	2M	-355.6M	-10.5M	-4.7M	-112.7M	-2.2M	-14.3M	-6.1M	2.4M
Other Non-Cash Items	-36.1M	15.4M	-31.1M	-12.3M	-41.6M	441.9M	113.9M	145.9M	-24.1M	56.2M
Working Capital Changes	34.7M	-24.7M	52.2M	49M	-73M	49.3M	62.4M	-55.1M	-55.2M	94.2M
Cash from Investing+	56.8M	-108.3M	519.5M	100.9M	-389.3M	129.4M	-283.3M	58.5M	-328.9M	-285.4M
Purchase of Investments	-9.3M	-121.9M	-34.9M	0	-355.7M	-20.2M	-301.5M	0	0	0
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	0	0	0	0
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	64.9M	0	417.7M	42.4M	2.3M	43.8M	27.4M	14.9M	0	-126.9M
Other Investing	-1.6M	700K	-2.4M	16M	400K	-11.2M	1.2M	61.2M	-318.1M	-148.4M
Cash from Financing+	-221.5M	-338.6M	-504.7M	-616.8M	-207M	-491M	-588.1M	-419.1M	-151.9M	-324.4M
Dividends Paid	-161M	-157.5M	-256M	-275.1M	-272.4M	-262.9M	-256M	-259.4M	-258.7M	-250.1M
Share Repurchases	-38.2M	0	0	-99.8M	-199.9M	-130.8M	-372.1M	-98.9M	-61.9M	-288M
Stock Issued	15.26M	9.99M	0	0	0	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	0	-1000K	-1000K	-1000K	-1000K	-600K	-500K	0	0	1000K
Other Financing	-22.3M	22.3M	-155.3M	-145.3M	266.4M	-96.7M	40.5M	-60.8M	168.7M	122.8M
Net Change in Cash+	205.2M	-260.5M	471M	122.4M	-120.1M	311.6M	10.5M	57.8M	-8.3M	66.7M
Exchange Rate Effect	-1000K	-1000K	1000K	-1000K	1000K	1000K	-1000K	-1000K	1000K	-1000K
Cash at Beginning	378.5M	583.7M	323.2M	794.2M	916.6M	796.5M	1.11B	1.12B	1.18B	1.17B
Cash at End	583.7M	323.2M	794.2M	916.6M	796.5M	1.11B	1.12B	1.18B	1.17B	1.23B
Interest Paid	16.7M	7.3M	8M	14.8M	14.6M	14.6M	14.6M	14.6M	14.6M	18.5M
Income Taxes Paid	14.4M	40.7M	113.1M	184.7M	160M	159M	217.6M	140.7M	104.3M	133.3M
Free Cash Flow+	372.8M	220.9M	426.4M	641.7M	425.4M	627.9M	885M	455.7M	430.8M	684.5M
FCF Growth %	1.04%	-0.41%	0.93%	0.5%	-0.34%	0.48%	0.41%	-0.49%	-0.05%	0.59%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	21.03%	11.11%	18.96%	10.41%	8.08%	2.5%	12.89%	7.92%	8.29%	8.23%
Return on Assets (ROA)	13.05%	7.65%	13.51%	7.39%	5.88%	1.82%	9.26%	5.76%	6.16%	6.08%
Net Interest Margin	-0.8%	-0.27%	-0.16%	-0.23%	-0.2%	-0.19%	-0.19%	-0.2%	-0.2%	-0.26%
Efficiency Ratio	40.9%	45.81%	43.39%	43.21%	45.66%	65.33%	43.41%	47.78%	46.5%	42.58%
Equity / Assets	61.96%	76.04%	69.66%	72.29%	73.27%	72.03%	71.65%	73.69%	74.74%	73%
Book Value / Share	13.45	16.65	31.21	25.51	29.61	26.79	28.5	28.37	30.25	32.63
NII Growth	-65.56%	67.16%	-80.3%	-31.93%	3.82%	14.57%	0.78%	1.56%	-0.79%	-41.73%
Dividend Payout	48.82%	83.33%	39.05%	52.52%	63.7%	201.77%	41.29%	69.66%	65.99%	61.16%

Revenue by Segment

	2017	2018	2019	2020	2021	2022	2023	2024
Investment Advice	-	1.95B	1.79B	1.79B	-	-	1.7B	1.96B
Investment Advice Growth	-	-	-7.96%	0.10%	-	-	-	15.15%
Shareholder Service	-	154.2M	185.4M	209.2M	-	-	213.3M	240.7M
Shareholder Service Growth	-	-	20.23%	12.84%	-	-	-	12.85%
Product and Service, Other	-	-	-	-	-	-	183.3M	204.4M
Product and Service, Other Growth	-	-	-	-	-	-	-	11.51%
Investment Performance	-	197.7M	197.1M	197.2M	-	-	5.1M	70.4M
Investment Performance Growth	-	-	-0.30%	0.05%	-	-	-	1280.39%
Management fees	-	-	-	-	2.19B	1.8B	-	-
Management fees Growth	-	-	-	-	-	-17.81%	-	-
Shareowner servicing fees	-	-	-	-	260.7M	224M	-	-
Shareowner servicing fees Growth	-	-	-	-	-	-14.08%	-	-
Other revenue	-	-	-	-	214.2M	190.9M	-	-
Other revenue Growth	-	-	-	-	-	-10.88%	-	-
Performance fees	-	-	-	-	102.7M	-10.7M	-	-
Performance fees Growth	-	-	-	-	-	-110.42%	-	-
Product And Service Other	-	-	17.6M	98.1M	-	-	-	-
Product And Service Other Growth	-	-	-	457.39%	-	-	-	-
Performance Fees	-	7.1M	-	-	-	-	-	-
Performance Fees Growth	-	-	-	-	-	-	-	-

Revenue by Geography

	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	-	-	-	-	-	-	1.3B	1.58B
UNITED STATES Growth	-	-	-	-	-	-	-	21.31%
LUXEMBOURG	-	-	-	-	-	-	400.6M	452.2M
LUXEMBOURG Growth	-	-	-	-	-	-	-	12.88%
Other Foreign Countries	-	-	-	-	-	-	46.5M	47.6M
Other Foreign Countries Growth	-	-	-	-	-	-	-	2.37%
U.S.	-	-	-	-	1.63B	1.32B	-	-
U.S. Growth	-	-	-	-	-	-18.95%	-	-
Luxembourg	280.9M	-	-	-	437.2M	512.5M	-	-
Luxembourg Growth	-	-	-	-	-	17.22%	-	-
UK	-	-	-	-	639.7M	315.1M	-	-
UK Growth	-	-	-	-	-	-50.74%	-	-
Australia and Other	-	-	-	-	55.7M	51.4M	-	-
Australia and Other Growth	-	-	-	-	-	-7.72%	-	-
U	703.8M	1.34B	1.35B	1.4B	-	-	-	-
U Growth	-	90.21%	1.07%	3.58%	-	-	-	-
G	653.2M	649.4M	602.4M	562.7M	-	-	-	-
G Growth	-	-0.58%	-7.24%	-6.59%	-	-	-	-
L	-	255.9M	182.3M	281.5M	-	-	-	-
L Growth	-	-	-28.76%	54.42%	-	-	-	-

Frequently Asked Questions

Valuation & Price

Janus Henderson Group plc (JHG) has a price-to-earnings (P/E) ratio of 18.7x. This is roughly in line with market averages.

Growth & Financials

Janus Henderson Group plc (JHG) grew revenue by 17.7% over the past year. This is strong growth.

Yes, Janus Henderson Group plc (JHG) is profitable, generating $534.5M in net income for fiscal year 2024 (16.5% net margin).

Dividend & Returns

Yes, Janus Henderson Group plc (JHG) pays a dividend with a yield of 3.35%. This makes it attractive for income-focused investors.

Janus Henderson Group plc (JHG) has a return on equity (ROE) of 8.2%. This is below average, suggesting room for improvement.

Industry Metrics

Janus Henderson Group plc (JHG) has a net interest margin (NIM) of -0.3%. NIM has been under pressure due to interest rate environment.

Janus Henderson Group plc (JHG) has an efficiency ratio of 42.6%. This is excellent, indicating strong cost control.

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