Janus Henderson Group plc (JHG) Financial Ratios
22 years of historical data (2004–2025) · Financial Services · Asset Management
EV/EBITDA
↓
7.04
-3% vs avg
5yr avg: 7.27
30Y Low4.9·High82.6
P/FCF
↑
N/A
—
5yr avg: 9.31
30Y Low5.5·High17.3
P/B Ratio
↓
1.29
+12% vs avg
5yr avg: 1.16
30Y Low0.8·High42.8
ROE
↑
14.3%
↓+38% vs avg
5yr avg: 10.3%
30Y Low-12%·High35%
Debt/EBITDA
↓
0.39
↓-38% vs avg
5yr avg: 0.63
30Y Low0.0·High6.2
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
JHG Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Janus Henderson Group plc trades at 9.9x earnings, 18% below its 5-year average of 12.1x, sitting at the 30th percentile of its historical range. Compared to the Financial Services sector median P/E of 13.6x, the stock trades at a discount of 27%.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $8.0B | $7.3B | $6.6B | $4.8B | $3.8B | $7.1B | $5.8B | $4.6B | $4.1B | $6.2B | $2.3B |
| Enterprise Value | $7.1B | $6.4B | $5.9B | $4.1B | $3.0B | $6.4B | $5.2B | $4.3B | $3.5B | $5.8B | $2.0B |
| P/E Ratio → | 9.92 | 9.10 | 16.61 | 12.72 | 10.55 | 11.75 | 46.44 | 11.06 | 7.94 | 9.74 | 12.45 |
| P/S Ratio | 2.58 | 2.35 | 2.68 | 2.30 | 1.73 | 2.55 | 2.54 | 2.10 | 1.76 | 3.42 | 2.26 |
| P/B Ratio | 1.29 | 1.19 | 1.30 | 1.00 | 0.83 | 1.47 | 1.21 | 0.83 | 0.81 | 1.23 | 1.24 |
| P/FCF | — | — | 9.68 | 11.23 | 8.36 | 7.99 | 9.31 | 10.84 | 6.33 | 14.56 | 10.40 |
| P/OCF | 11.11 | 10.10 | 9.54 | 10.96 | 8.05 | 7.89 | 9.06 | 9.96 | 6.05 | 13.98 | 9.77 |
P/E links to full P/E history page with 30-year chart
JHG EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Janus Henderson Group plc's enterprise value stands at 7.0x EBITDA, roughly in line with its 5-year average of 7.3x. The Financial Services sector median is 11.4x, placing the stock at a 38% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.07 | 2.38 | 1.93 | 1.38 | 2.31 | 2.26 | 1.96 | 1.50 | 3.19 | 1.94 |
| EV / EBITDA | 7.04 | 6.32 | 8.77 | 8.00 | 5.82 | 7.42 | 29.29 | 7.10 | 4.86 | 11.70 | 7.59 |
| EV / EBIT | 7.30 | 12.12 | 9.33 | 7.51 | 7.82 | 7.70 | 24.02 | 7.16 | 5.11 | 12.62 | 9.03 |
| EV / FCF | — | — | 8.59 | 9.41 | 6.66 | 7.22 | 8.28 | 10.08 | 5.40 | 13.59 | 8.93 |
JHG Profitability
Margins and return-on-capital ratios measuring operating efficiency
Janus Henderson Group plc earns an operating margin of 31.5%, above the Financial Services sector average of 20.3%. Operating margins have expanded from 23.0% to 31.5% over the past 3 years, signaling improving operational efficiency. ROE of 14.3% is modest. ROIC of 12.1% represents solid returns on invested capital versus a sector median of 5.5%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 71.8% | 71.8% | 68.7% | 69.5% | 70.0% | 73.1% | 70.9% | 70.3% | 71.4% | 67.7% | 68.6% |
| Operating Margin | 31.5% | 31.5% | 26.1% | 23.0% | 22.2% | 29.7% | 5.6% | 24.7% | 28.2% | 24.3% | 22.8% |
| Net Profit Margin | 25.8% | 25.8% | 16.5% | 18.7% | 16.9% | 22.4% | 5.7% | 19.5% | 22.7% | 36.1% | 18.6% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 14.3% | 14.3% | 8.2% | 8.3% | 7.9% | 12.9% | 2.5% | 8.1% | 10.4% | 19.0% | 11.1% |
| ROA | 10.5% | 10.5% | 6.1% | 6.2% | 5.8% | 9.3% | 1.8% | 5.9% | 7.4% | 13.5% | 7.7% |
| ROIC | 12.1% | 12.1% | 9.0% | 7.1% | 7.2% | 11.7% | 1.7% | 7.1% | 9.1% | 9.1% | 9.6% |
| ROCE | 13.5% | 13.5% | 10.7% | 8.4% | 8.5% | 13.8% | 2.0% | 8.3% | 10.4% | 10.7% | 12.7% |
JHG Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Janus Henderson Group plc carries a Debt/EBITDA ratio of 0.4x, which is very conservative (91% below the sector average of 4.3x). The company holds a net cash position — cash of $1.3B exceeds total debt of $396M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of 21.8x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.06 | 0.06 | 0.10 | 0.08 | 0.09 | 0.09 | 0.10 | 0.08 | 0.06 | 0.07 | — |
| Debt / EBITDA | 0.39 | 0.39 | 0.73 | 0.76 | 0.77 | 0.52 | 2.58 | 0.78 | 0.45 | 0.77 | — |
| Net Debt / Equity | — | -0.14 | -0.15 | -0.16 | -0.17 | -0.14 | -0.13 | -0.06 | -0.12 | -0.08 | -0.17 |
| Net Debt / EBITDA | -0.85 | -0.85 | -1.12 | -1.55 | -1.49 | -0.78 | -3.66 | -0.54 | -0.84 | -0.84 | -1.24 |
| Debt / FCF | — | — | -1.09 | -1.82 | -1.71 | -0.76 | -1.03 | -0.76 | -0.93 | -0.97 | -1.46 |
| Interest Coverage | 21.83 | 21.83 | 34.99 | 42.50 | 30.79 | 64.88 | 16.78 | 39.64 | 43.15 | 38.60 | 33.11 |
Net cash position: cash ($1.3B) exceeds total debt ($396M)
JHG Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Janus Henderson Group plc's current ratio of 53.82x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 3.89x to 53.82x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 53.82 | 53.82 | 3.59 | 3.89 | 3.63 | 3.07 | 3.01 | 3.35 | 2.77 | 2.23 | 2.34 |
| Quick Ratio | 53.82 | 53.82 | 3.59 | 3.89 | 3.63 | 3.07 | 3.01 | 3.35 | 2.77 | 2.23 | 2.34 |
| Cash Ratio | 53.82 | 53.82 | 1.68 | 1.85 | 1.93 | 1.42 | 1.52 | 1.03 | 1.26 | 0.79 | 0.71 |
| Asset Turnover | — | 0.37 | 0.36 | 0.32 | 0.35 | 0.41 | 0.34 | 0.29 | 0.33 | 0.25 | 0.42 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
JHG Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Janus Henderson Group plc returns 6.5% to shareholders annually — split between a 3.1% dividend yield and 3.3% buyback yield. The payout ratio of 31.2% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 10.1% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.1% | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | 31.2% | 31.2% | 61.2% | 66.0% | 69.7% | 41.3% | 201.8% | 63.7% | 52.5% | 39.1% | 83.3% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 10.1% | 11.0% | 6.0% | 7.9% | 9.5% | 8.5% | 2.2% | 9.0% | 12.6% | 10.3% | 8.0% |
| FCF Yield | — | — | 10.3% | 8.9% | 12.0% | 12.5% | 10.7% | 9.2% | 15.8% | 6.9% | 9.6% |
| Buyback Yield | 3.3% | — | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 6.5% | — | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $153M | $156M | $161M | $162M | $169M | $180M | $189M | $196M | $162M | $111M |
Peer Comparison
Compare JHG with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 JHGYou | $8B | 9.9 | 7.0 | — | 71.8% | 31.5% | 14.3% | 12.1% | 0.4 |
 IVZ | $13B | -17.6 | 16.8 | 8.7 | 43.2% | -10.9% | -2.0% | -2.3% | 8.2 |
 AMG | $9B | 15.5 | 12.2 | 9.4 | 86.0% | 31.8% | 15.8% | 8.1% | 2.8 |
 VRTS | $948M | 7.1 | 16.2 | — | 74.9% | 17.4% | 13.5% | 3.0% | 13.9 |
 BEN | $17B | 36.3 | 23.7 | 18.8 | 80.3% | 6.9% | 3.7% | 1.6% | 11.7 |
 TROW | $23B | 11.6 | 8.0 | 15.8 | 62.7% | 29.9% | 17.8% | 13.3% | 0.3 |
 DHIL | $473M | 9.8 | 110.4 | — | 96.0% | 38.4% | 28.8% | 1.3% | 103.4 |
 GROW | $39M | -124.0 | — | — | 41.7% | -35.3% | -0.7% | -4.7% | — |
 BLK | $174B | 29.6 | 23.0 | 46.3 | 55.5% | 29.1% | 10.0% | 7.5% | 1.9 |
 STT | $49B | 17.9 | -12.3 | 11.3 | 61.4% | 16.5% | 11.1% | 4.7% | 7.0 |
 NTRS | $32B | 19.7 | -4.0 | 5.8 | 56.5% | 16.3% | 13.5% | 6.0% | 5.1 |
| Financial Services Median | — | 13.6 | 11.4 | 11.1 | 64.1% | 20.3% | 9.0% | 5.5% | 4.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Includes 30+ ratios · 22 years · Updated daily
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JHG — Frequently Asked Questions
Quick answers to the most common questions about buying JHG stock.
What is Janus Henderson Group plc's P/E ratio?
Janus Henderson Group plc's current P/E ratio is 9.9x. The historical average is 20.2x. This places it at the 30th percentile of its historical range.
What is Janus Henderson Group plc's EV/EBITDA?
Janus Henderson Group plc's current EV/EBITDA is 7.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.7x.
What is Janus Henderson Group plc's ROE?
Janus Henderson Group plc's return on equity (ROE) is 14.3%. The historical average is 11.2%.
Is JHG stock overvalued?
Based on historical data, Janus Henderson Group plc is trading at a P/E of 9.9x. This is at the 30th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Janus Henderson Group plc's dividend yield?
Janus Henderson Group plc's current dividend yield is 3.15% with a payout ratio of 31.2%.
What are Janus Henderson Group plc's profit margins?
Janus Henderson Group plc has 71.8% gross margin and 31.5% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Janus Henderson Group plc have?
Janus Henderson Group plc's Debt/EBITDA ratio is 0.4x, indicating low leverage. A ratio below 2x is generally considered financially healthy.