James Hardie Industries plc (JHX) 10-Year Financial Performance & Capital Metrics

JHX • • Industrial / General

Basic MaterialsConstruction MaterialsSpecialty Building ProductsFiber Cement & Engineered Products

AboutJames Hardie Industries plc, together with its subsidiaries, manufactures and sells fiber cement, fiber gypsum, and cement bonded building products for interior and exterior building construction applications primarily in the United States, Australia, Europe, New Zealand, the Philippines, and Canada. The company operates through three segments: North America Fiber Cement, Asia Pacific Fiber Cement, and Europe Building Products. It offers fiber cement interior linings, exterior siding products, and related accessories; and various fiber cement building materials for a range of applications, including external siding, internal walls, floors, ceilings, soffits, trim, fences, and facades. The company also provides fiber gypsum and cement-bonded boards for applications, such as timber frame construction, dry lining, DIY, and structural fire protection. Its products are used in various markets comprising new residential construction and commercial construction markets. James Hardie Industries plc was founded in 1888 and is based in Dublin, Ireland.Show more

Revenue $3.88B -1.5%
EBITDA $872M -8.4%
Net Income $424M -16.9%
EPS (Diluted) 0.98 -15.5%
Gross Margin 38.81% -3.8%
EBITDA Margin 22.49% -7.0%
Operating Margin 16.92% -13.2%
Net Margin 10.93% -15.6%
ROE 21.09% -28.3%
ROIC 17.89% -17.1%
Debt/Equity 0.56 -13.7%
Interest Coverage 16.00 -24.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 28.4%
✓High quality earnings: Operating CF exceeds net income
✓Healthy 5Y average net margin of 11.8%

✗Weaknesses

✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y8.87%

5Y8.27%

3Y2.37%

TTM4.6%

Profit (Net Income) CAGR

10Y3.83%

5Y11.92%

3Y-2.62%

TTM-56.28%

EPS CAGR

10Y4.19%

5Y12.66%

3Y-1.65%

TTM-52.21%

ROCE

10Y Avg17.1%

5Y Avg17.97%

3Y Avg18.41%

Latest15.37%

Peer Comparison

Fiber Cement & Engineered Products

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
JHXJames Hardie Industries plc	13.92B	24.00	24.49	-1.49%	4.67%	3.04%	2.73%	0.56
CAPSCapstone Holding Corp.	5.48M	0.66	-0.02	-7.19%	-12.4%	-20.42%	67.51%

Profit & Loss

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales/Revenue+	1.73B	1.92B	2.05B	2.51B	2.61B	2.91B	3.61B	3.78B	3.94B	3.88B
Revenue Growth %	0.04%	0.11%	0.07%	0.22%	0.04%	0.12%	0.24%	0.04%	0.04%	-0.01%
Cost of Goods Sold+	1.1B	1.25B	1.32B	1.68B	1.67B	1.86B	2.3B	2.47B	2.35B	2.37B
COGS % of Revenue	0.63%	0.65%	0.64%	0.67%	0.64%	0.64%	0.64%	0.65%	0.6%	0.61%
Gross Profit+	632.2M	674.7M	730.2M	831M	933.7M	1.05B	1.31B	1.31B	1.59B	1.5B
Gross Margin %	0.37%	0.35%	0.36%	0.33%	0.36%	0.36%	0.36%	0.35%	0.4%	0.39%
Gross Profit Growth %	0.09%	0.07%	0.08%	0.14%	0.12%	0.13%	0.25%	-0%	0.21%	-0.05%
Operating Expenses+	278.2M	281.5M	501M	479.4M	591.2M	578.9M	630.9M	570.6M	821M	849.1M
OpEx % of Revenue	0.16%	0.15%	0.24%	0.19%	0.23%	0.2%	0.17%	0.15%	0.21%	0.22%
Selling, General & Admin	254.2M	291.6M	311.3M	403.6M	415.8M	389.6M	461.2M	494M	602.2M	596.2M
SG&A % of Revenue	0.15%	0.15%	0.15%	0.16%	0.16%	0.13%	0.13%	0.13%	0.15%	0.15%
Research & Development	29.5M	30.3M	33.3M	37.9M	32.8M	34.3M	38M	39.6M	47M	48.5M
R&D % of Revenue	0.02%	0.02%	0.02%	0.02%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Other Operating Expenses	-5.5M	-40.4M	156.4M	37.9M	142.6M	155M	131.7M	37M	171.8M	204.4M
Operating Income+	354M	393.2M	229.2M	351.6M	342.5M	472.8M	682.6M	741.4M	767.4M	655.9M
Operating Margin %	0.2%	0.2%	0.11%	0.14%	0.13%	0.16%	0.19%	0.2%	0.19%	0.17%
Operating Income Growth %	0.06%	0.11%	-0.42%	0.53%	-0.03%	0.38%	0.44%	0.09%	0.04%	-0.15%
EBITDA+	433.8M	476.4M	321.2M	471M	474M	607.8M	844.4M	914M	952.4M	872.1M
EBITDA Margin %	0.25%	0.25%	0.16%	0.19%	0.18%	0.21%	0.23%	0.24%	0.24%	0.22%
EBITDA Growth %	0.07%	0.1%	-0.33%	0.47%	0.01%	0.28%	0.39%	0.08%	0.04%	-0.08%
D&A (Non-Cash Add-back)	79.8M	83.2M	92M	119.4M	131.5M	135M	161.8M	172.6M	185M	216.2M
EBIT	357.1M	395.5M	207.2M	350.7M	342.4M	459.8M	682.4M	760.5M	791.2M	686.4M
Net Interest Income+	-25.6M	-27.5M	-29.5M	-50.1M	-54.4M	-47.8M	-39.3M	-30.7M	-15.3M	-10.3M
Interest Income	1M	1M	3.4M	4.1M	3.1M	700K	1M	6.3M	21.1M	30.7M
Interest Expense	26.6M	28.5M	32.9M	54.2M	57.5M	48.5M	40.3M	37M	36.4M	41M
Other Income/Expense	-23.5M	-26.2M	-54.9M	-51M	-54.5M	-60.8M	-39.5M	-17.9M	-12.6M	-10.5M
Pretax Income+	330.5M	367M	174.3M	300.6M	288M	412M	643.1M	723.5M	754.8M	645.4M
Pretax Margin %	0.19%	0.19%	0.08%	0.12%	0.11%	0.14%	0.18%	0.19%	0.19%	0.17%
Income Tax+	86.1M	90.5M	28.2M	71.8M	46.5M	149.2M	184M	211.5M	244.6M	221.4M
Effective Tax Rate %	0.74%	0.75%	0.84%	0.76%	0.84%	0.64%	0.71%	0.71%	0.68%	0.66%
Net Income+	244.4M	276.5M	146.1M	228.8M	241.5M	262.8M	459.1M	512M	510.2M	424M
Net Margin %	0.14%	0.14%	0.07%	0.09%	0.09%	0.09%	0.13%	0.14%	0.13%	0.11%
Net Income Growth %	-0.16%	0.13%	-0.47%	0.57%	0.06%	0.09%	0.75%	0.12%	-0%	-0.17%
Net Income (Continuing)	244.4M	276.5M	146.1M	228.8M	241.5M	262.8M	459.1M	512M	510.2M	424M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.55	0.62	0.33	0.52	0.54	0.59	1.03	1.15	1.16	0.98
EPS Growth %	-0.15%	0.13%	-0.47%	0.58%	0.04%	0.09%	0.75%	0.12%	0.01%	-0.16%
EPS (Basic)	0.55	0.62	0.33	0.52	0.55	0.60	1.03	1.15	1.16	0.98
Diluted Shares Outstanding	447.2M	443.9M	442.3M	443M	444.1M	445.4M	445.9M	445.6M	439.6M	432.1M
Basic Shares Outstanding	445.3M	442.7M	441.2M	441.9M	442.6M	443.7M	444.9M	445.1M	438.4M	430.8M
Dividend Payout Ratio	1.01%	0.64%	1.21%	0.75%	0.66%	-	1.05%	0.25%	-	-

Balance Sheet

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Total Current Assets+	535.9M	632.1M	842.6M	754.1M	908.4M	943.6M	1.12B	1.08B	1.43B	1.7B
Cash & Short-Term Investments	107.1M	78.9M	281.6M	78.7M	144.4M	208.5M	125M	113M	365M	562.7M
Cash Only	107.1M	78.9M	281.6M	78.7M	144.4M	208.5M	125M	113M	365M	562.7M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	173.3M	193.6M	195.6M	242.6M	264M	290.6M	333M	298.6M	312.7M	328.9M
Days Sales Outstanding	36.6	36.77	34.75	35.33	36.96	36.47	33.63	28.86	29	30.96
Inventory	193M	202.9M	255.7M	317.4M	305.1M	218.3M	279.7M	344.2M	337.8M	347.1M
Days Inventory Outstanding	64.27	59.39	70.48	69.14	66.56	42.91	44.36	50.96	52.51	53.4
Other Current Assets	42.8M	128.4M	84.3M	84.1M	168.8M	187.3M	343.1M	278.3M	344.7M	362.5M
Total Non-Current Assets+	1.5B	1.38B	1.51B	3.28B	3.12B	3.15B	3.12B	3.4B	3.48B	3.53B
Property, Plant & Equipment	867M	879M	992.1M	1.39B	1.38B	1.42B	1.52B	1.9B	2.1B	2.24B
Fixed Asset Turnover	1.99x	2.19x	2.07x	1.81x	1.88x	2.05x	2.38x	1.99x	1.88x	1.73x
Goodwill	0	0	4.9M	201.1M	196.9M	209.3M	199.5M	194.9M	192.6M	193.7M
Intangible Assets	0	0	12.3M	174.4M	166.7M	173.9M	162.8M	155.2M	149.2M	145.6M
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	217.3M	118.1M	86.3M	72.4M	63.9M	66.6M	60.5M	100.7M	59.3M	64.5M
Total Assets+	2.04B	2.01B	2.35B	4.03B	4.03B	4.09B	4.24B	4.48B	4.91B	5.23B
Asset Turnover	0.85x	0.95x	0.87x	0.62x	0.65x	0.71x	0.85x	0.84x	0.80x	0.74x
Asset Growth %	-0%	-0.01%	0.17%	0.72%	-0%	0.02%	0.04%	0.06%	0.1%	0.06%
Total Current Liabilities+	399.8M	428.8M	394.6M	483M	510M	901.1M	769.9M	697.3M	797.7M	810.2M
Accounts Payable	77.2M	108.4M	111.8M	142.4M	151.3M	174M	273.6M	198.2M	252M	232.5M
Days Payables Outstanding	25.71	31.73	30.81	31.02	33.01	34.2	43.4	29.35	39.18	35.77
Short-Term Debt	50.7M	52.4M	0	0	0	0	0	0	7.5M	9.4M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	141.9M	131.1M	129M	122.4M	117.5M	156.5M	165.5M	162.4M	144.3M	181.9M
Current Ratio	1.34x	1.47x	2.14x	1.56x	1.78x	1.05x	1.46x	1.54x	1.79x	2.10x
Quick Ratio	0.86x	1.00x	1.49x	0.90x	1.18x	0.80x	1.10x	1.05x	1.37x	1.67x
Cash Conversion Cycle	75.17	64.44	74.41	73.45	70.52	45.17	34.59	50.47	42.33	48.59
Total Non-Current Liabilities+	1.87B	1.8B	2.18B	2.58B	2.48B	2.13B	2.14B	2.17B	2.26B	2.26B
Long-Term Debt	512.8M	564.5M	884.4M	1.38B	1.35B	858.6M	877.3M	1.06B	1.12B	1.11B
Capital Lease Obligations	0	0	0	0	42.9M	55.2M	64.6M	61.1M	59.4M	63.9M
Deferred Tax Liabilities	82.1M	94.8M	66.4M	80.4M	81.9M	86.3M	86.9M	93.6M	107.5M	121.1M
Other Non-Current Liabilities	1.27B	1.14B	1.23B	1.11B	1B	1.13B	1.11B	956.7M	974M	963.1M
Total Liabilities	2.27B	2.22B	2.57B	3.06B	2.99B	3.03B	2.91B	2.87B	3.05B	3.07B
Total Debt+	552.5M	616.9M	884.4M	1.38B	1.41B	922.6M	955.5M	1.14B	1.2B	1.21B
Net Debt	445.4M	538M	602.8M	1.3B	1.27B	714.1M	830.5M	1.03B	836M	642.3M
Debt / Equity	-	-	-	1.42x	1.36x	0.87x	0.72x	0.71x	0.65x	0.56x
Debt / EBITDA	1.27x	1.29x	2.75x	2.93x	2.98x	1.52x	1.13x	1.25x	1.26x	1.38x
Net Debt / EBITDA	1.03x	1.13x	1.88x	2.76x	2.67x	1.17x	0.98x	1.12x	0.88x	0.74x
Interest Coverage	13.31x	13.80x	6.97x	6.49x	5.96x	9.75x	16.94x	20.04x	21.08x	16.00x
Total Equity+	-225.2M	-212.2M	-221.5M	974.4M	1.04B	1.06B	1.33B	1.61B	1.86B	2.16B
Equity Growth %	-0.11%	0.06%	-0.04%	5.4%	0.06%	0.02%	0.26%	0.21%	0.15%	0.16%
Book Value per Share	-0.50	-0.48	-0.50	2.20	2.33	2.38	2.99	3.62	4.23	5.00
Total Shareholders' Equity	-225.2M	-212.2M	-221.5M	974.4M	1.04B	1.06B	1.33B	1.61B	1.86B	2.16B
Common Stock	231.4M	229.1M	229.5M	230M	230.6M	231.4M	232.1M	230M	224.7M	222.1M
Retained Earnings	-621.8M	-612.9M	-635.3M	577.1M	659.5M	611.4M	892.4M	1.2B	1.45B	1.73B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	800K	-2.2M	-1.3M	-30.3M	-62.1M	-6.6M	-22M	-53.3M	-68.3M	-58.2M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operations+	260.4M	292.1M	295M	287.6M	451.2M	786.9M	757.2M	607.6M	914.2M	802.8M
Operating CF Margin %	0.15%	0.15%	0.14%	0.11%	0.17%	0.27%	0.21%	0.16%	0.23%	0.21%
Operating CF Growth %	0.45%	0.12%	0.01%	-0.03%	0.57%	0.74%	-0.04%	-0.2%	0.5%	-0.12%
Net Income	244.4M	276.5M	146.1M	228.8M	241.5M	262.8M	459.1M	512M	510.2M	424M
Depreciation & Amortization	79.8M	83.2M	92M	119.4M	131.5M	135M	161.8M	172.6M	185M	216.2M
Stock-Based Compensation	10.3M	9.3M	11.1M	12.5M	10.3M	18M	9M	15.7M	28.2M	23M
Deferred Taxes	-100K	26M	-76.8M	12.7M	64M	85.8M	49.8M	48.4M	34.6M	62.1M
Other Non-Cash Items	8.9M	-28.4M	194.3M	-53.6M	64.9M	84.4M	51.4M	-37.7M	112.3M	115.4M
Working Capital Changes	-82.9M	-74.5M	-71.7M	-32.2M	-61M	200.9M	26.1M	-103.4M	43.9M	-37.9M
Change in Receivables	-22.7M	64.9M	5.3M	-13.3M	-111M	52.2M	-62.6M	38.3M	-14.1M	-25M
Change in Inventory	16.2M	-9.7M	-51.7M	-28.6M	3.2M	98.7M	-64.3M	-70.8M	3.4M	-15.7M
Change in Payables	-16.9M	39.6M	20.7M	3.5M	45.1M	25M	136.7M	-63.2M	47.4M	18.3M
Cash from Investing+	-66.6M	-109M	-200.6M	-848M	-203.8M	-120.4M	-348.2M	-660.1M	-470.5M	-446.7M
Capital Expenditures	-73.2M	-101.9M	-210.2M	-317.5M	-193.8M	-110.7M	-257.8M	-591.3M	-449.3M	-422.2M
CapEx % of Revenue	0.04%	0.05%	0.1%	0.13%	0.07%	0.04%	0.07%	0.16%	0.11%	0.11%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	6.6M	-7.1M	3.1M	-5.4M	-1.5M	-7.9M	-116.5M	-174.5M	-21.2M	-24.5M
Cash from Financing+	-154.4M	-212.7M	60.6M	364.2M	-179M	-540.2M	-449.6M	-25.4M	-210.1M	-165.9M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-246.5M	-176.8M	-177.5M	-172.1M	-158.6M	0	-484M	-129.6M	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-2.7M	1.3M	-35.2M	-6.1M	0	-9.5M	-4.9M	-6.1M	-6.1M	-7.3M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	187.2M	280.6M	98.3M	-13.5M	257.4M	676.2M	499.4M	16.3M	464.9M	380.6M
FCF Margin %	0.11%	0.15%	0.05%	-0.01%	0.1%	0.23%	0.14%	0%	0.12%	0.1%
FCF Growth %	2.94%	0.5%	-0.65%	-1.14%	20.07%	1.63%	-0.26%	-0.97%	27.52%	-0.18%
FCF per Share	0.42	0.63	0.22	-0.03	0.58	1.52	1.12	0.04	1.06	0.88
FCF Conversion (FCF/Net Income)	1.07x	1.06x	2.02x	1.26x	1.87x	2.99x	1.65x	1.19x	1.79x	1.89x
Interest Paid	20.5M	26.2M	26.3M	57M	61.5M	56.4M	37M	41M	41.8M	63.6M
Taxes Paid	57.8M	51.5M	49.1M	26.3M	52.5M	0	92.7M	117.1M	183.1M	128.1M

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-	-	-	60.78%	24.03%	25.08%	38.36%	34.78%	29.4%	21.09%
Return on Invested Capital (ROIC)	146.81%	108.02%	48.62%	19.85%	11.22%	17.39%	26%	23.17%	21.59%	17.89%
Gross Margin	36.58%	35.11%	35.54%	33.15%	35.82%	36.16%	36.34%	34.74%	40.35%	38.81%
Net Margin	14.14%	14.39%	7.11%	9.13%	9.26%	9.04%	12.7%	13.56%	12.96%	10.93%
Debt / Equity	-	-	-	1.42x	1.36x	0.87x	0.72x	0.71x	0.65x	0.56x
Interest Coverage	13.31x	13.80x	6.97x	6.49x	5.96x	9.75x	16.94x	20.04x	21.08x	16.00x
FCF Conversion	1.07x	1.06x	2.02x	1.26x	1.87x	2.99x	1.65x	1.19x	1.79x	1.89x
Revenue Growth	4.3%	11.19%	6.92%	22.01%	4%	11.58%	24.27%	4.49%	4.21%	-1.49%

Revenue by Segment

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Europe Building Products	-	-	-	-	-	410.3M	488.5M	-	-	-
Europe Building Products Growth	-	-	-	-	-	-	19.06%	-	-	-
Other Businesses	-	16.4M	-	-	-	-	-	-	-	-
Other Businesses Growth	-	-	-	-	-	-	-	-	-	-
Other revenues	-	-	-	14.6M	600K	-	-	-	-	-
Other revenues Growth	-	-	-	-	-95.89%	-	-	-	-	-
International Fiber Cement	-	411.8M	461.7M	-	-	-	-	-	-	-
International Fiber Cement Growth	-	-	12.12%	-	-	-	-	-	-	-
Other Countries	89.6M	-	-	-	-	-	-	-	-	-
Other Countries Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
UNITED STATES	-	-	-	-	-	-	-	-	-	2.71B
UNITED STATES Growth	-	-	-	-	-	-	-	-	-	-
AUSTRALIA	228.4M	252.5M	301.1M	315.1M	290.4M	321.9M	391.7M	380.9M	403.8M	401.1M
AUSTRALIA Growth	-	10.55%	19.25%	4.65%	-7.84%	10.85%	21.68%	-2.76%	6.01%	-0.67%
Other Countries	89.6M	85.9M	83.8M	283.8M	291.5M	321.7M	390.8M	382.7M	412.9M	377.6M
Other Countries Growth	-	-4.13%	-2.44%	238.66%	2.71%	10.36%	21.48%	-2.07%	7.89%	-8.55%
CANADA	-	-	-	-	-	-	-	-	-	156.1M
CANADA Growth	-	-	-	-	-	-	-	-	-	-
GERMANY	-	-	-	137.1M	135.7M	143M	165M	137.8M	140.5M	142.9M
GERMANY Growth	-	-	-	-	-1.02%	5.38%	15.38%	-16.48%	1.96%	1.71%
NEW ZEALAND	61.4M	73.3M	76.8M	79.1M	72.2M	81.9M	115.9M	88.1M	87.7M	92.6M
NEW ZEALAND Growth	-	19.38%	4.77%	2.99%	-8.72%	13.43%	41.51%	-23.99%	-0.45%	5.59%
North America	1.35B	1.51B	1.59B	1.69B	1.82B	2.04B	2.55B	2.79B	2.89B	-
North America Growth	-	11.94%	5.49%	6.20%	7.42%	12.28%	25.05%	9.26%	3.72%	-
Worldwide	1.73B	-	-	-	-	-	-	-	-	-
Worldwide Growth	-	-	-	-	-	-	-	-	-	-
North America and Europe Fiber Cement	1.39B	-	-	-	-	-	-	-	-	-
North America and Europe Fiber Cement Growth	-	-	-	-	-	-	-	-	-	-
Asia Pacific Fiber Cement	341.9M	-	-	-	-	-	-	-	-	-
Asia Pacific Fiber Cement Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

James Hardie Industries plc (JHX) has a price-to-earnings (P/E) ratio of 24.5x. This is roughly in line with market averages.

Growth & Financials

James Hardie Industries plc (JHX) reported $4.12B in revenue for fiscal year 2025. This represents a 233% increase from $1.24B in 2012.

James Hardie Industries plc (JHX) saw revenue decline by 1.5% over the past year.

Yes, James Hardie Industries plc (JHX) is profitable, generating $192.1M in net income for fiscal year 2025 (10.9% net margin).

Dividend & Returns

James Hardie Industries plc (JHX) has a return on equity (ROE) of 21.1%. This is excellent, indicating efficient use of shareholder capital.

James Hardie Industries plc (JHX) generated $297.7M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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