James Hardie Industries plc (JHX) Financial Ratios
26 years of historical data (2001–2026) · Basic Materials · Construction Materials
EV/EBITDA
↑
27.81
↑+69% vs avg
5yr avg: 16.46
30Y Low6.6·High73.5
P/FCF
↑
70.09
↓-52% vs avg
5yr avg: 146.79
30Y Low6.4·High96.1
P/B Ratio
↓
2.11
↓-67% vs avg
5yr avg: 6.39
30Y Low1.6·High33.1
ROE
↓
2.4%
↑-90% vs avg
5yr avg: 25.2%
30Y Low-255%·High478%
Debt/EBITDA
↑
7.05
↑+192% vs avg
5yr avg: 2.41
30Y Low0.1·High13.3
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
JHX Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
James Hardie Industries plc trades at 130.9x earnings, 217% above its 5-year average of 41.3x, sitting at the 100th percentile of its historical range. Compared to the Basic Materials sector median P/E of 23.6x, the stock trades at a premium of 455%. On a free-cash-flow basis, the stock trades at 70.1x P/FCF, 52% below the 5-year average of 146.8x.
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $14.4B | $10.3B | $10.2B | $17.8B | $9.6B | $13.4B | $13.6B | $5.3B | $5.7B | $7.9B | $7.0B |
| Enterprise Value | $18.9B | $14.8B | $10.8B | $18.6B | $10.7B | $14.3B | $14.3B | $6.6B | $7.0B | $8.5B | $7.6B |
| P/E Ratio → | 130.89 | 99.68 | 24.04 | 34.88 | 18.83 | 29.27 | 51.83 | 22.19 | 24.75 | 54.18 | 25.48 |
| P/S Ratio | 2.98 | 2.14 | 2.63 | 4.52 | 2.55 | 3.72 | 4.68 | 2.04 | 2.27 | 3.85 | 3.65 |
| P/B Ratio | 2.11 | 1.61 | 4.71 | 9.57 | 5.99 | 10.09 | 12.84 | 5.14 | 5.85 | — | — |
| P/FCF | 70.09 | 50.18 | 26.75 | 38.26 | 591.86 | 26.92 | 20.14 | 20.67 | — | 80.45 | 25.00 |
| P/OCF | 24.47 | 17.52 | 12.68 | 19.46 | 15.88 | 17.75 | 17.31 | 11.79 | 19.82 | 26.81 | 24.01 |
P/E links to full P/E history page with 30-year chart
JHX EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
James Hardie Industries plc's enterprise value stands at 27.8x EBITDA, 69% above its 5-year average of 16.5x. The Basic Materials sector median is 11.0x, placing the stock at a 153% premium on an enterprise-value basis.
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.05 | 2.79 | 4.73 | 2.83 | 3.95 | 4.93 | 2.53 | 2.79 | 4.14 | 3.93 |
| EV / EBITDA | 27.81 | 21.77 | 12.41 | 19.55 | 11.68 | 16.90 | 23.58 | 13.90 | 14.87 | 26.50 | 15.85 |
| EV / EBIT | 42.17 | 33.01 | 15.77 | 23.54 | 14.03 | 20.92 | 31.18 | 19.24 | 19.97 | 41.08 | 19.09 |
| EV / FCF | — | 71.75 | 28.44 | 40.06 | 654.75 | 28.58 | 21.20 | 25.60 | — | 86.58 | 26.91 |
JHX Profitability
Margins and return-on-capital ratios measuring operating efficiency
James Hardie Industries plc earns an operating margin of 9.3%, roughly in line with the Basic Materials sector average. Operating margins have compressed from 19.5% to 9.3% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 2.4% is modest. ROIC of 4.9% represents below-average returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 35.8% | 35.8% | 38.8% | 40.4% | 34.7% | 36.3% | 36.2% | 35.8% | 33.2% | 35.5% | 35.1% |
| Operating Margin | 9.3% | 9.3% | 16.9% | 19.5% | 19.6% | 18.9% | 16.3% | 13.1% | 14.0% | 11.2% | 20.5% |
| Net Profit Margin | 2.2% | 2.2% | 10.9% | 13.0% | 13.6% | 12.7% | 9.0% | 9.3% | 9.1% | 7.1% | 14.4% |
Return on Capital
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 2.4% | 2.4% | 21.1% | 29.4% | 34.8% | 38.4% | 25.1% | 24.0% | 60.8% | — | — |
| ROA | 1.1% | 1.1% | 8.4% | 10.9% | 11.7% | 11.0% | 6.5% | 6.0% | 7.2% | 6.7% | 13.6% |
| ROIC | 4.9% | 4.9% | 17.9% | 21.6% | 23.2% | 26.0% | 17.4% | 11.2% | 19.8% | 48.6% | 108.0% |
| ROCE | 5.3% | 5.3% | 15.4% | 19.4% | 20.4% | 20.5% | 14.1% | 9.7% | 12.8% | 12.9% | 24.4% |
JHX Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
James Hardie Industries plc carries a Debt/EBITDA ratio of 7.1x, which is highly leveraged (190% above the sector average of 2.4x). Net debt stands at $4.4B ($4.8B total debt minus $344M cash). Interest coverage of just 1.9x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.74 | 0.74 | 0.56 | 0.65 | 0.71 | 0.72 | 0.87 | 1.36 | 1.42 | — | — |
| Debt / EBITDA | 7.05 | 7.05 | 1.38 | 1.26 | 1.25 | 1.13 | 1.52 | 2.98 | 2.93 | 2.75 | 1.29 |
| Net Debt / Equity | — | 0.69 | 0.30 | 0.45 | 0.64 | 0.62 | 0.67 | 1.22 | 1.34 | — | — |
| Net Debt / EBITDA | 6.54 | 6.54 | 0.74 | 0.88 | 1.12 | 0.98 | 1.17 | 2.67 | 2.76 | 1.88 | 1.13 |
| Debt / FCF | — | 21.57 | 1.69 | 1.80 | 62.90 | 1.66 | 1.06 | 4.93 | — | 6.13 | 1.92 |
| Interest Coverage | 1.94 | 1.94 | 16.74 | 21.74 | 20.55 | 16.93 | 9.48 | 5.95 | 6.47 | 6.30 | 13.88 |
JHX Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.58x means James Hardie Industries plc can comfortably meet its short-term obligations, though there is limited excess liquidity. The quick ratio of 1.03x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has declined from 1.79x to 1.58x over the past 3 years.
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.58 | 1.58 | 2.10 | 1.79 | 1.54 | 1.46 | 1.05 | 1.78 | 1.56 | 2.14 | 1.47 |
| Quick Ratio | 1.03 | 1.03 | 1.67 | 1.37 | 1.05 | 1.10 | 0.80 | 1.18 | 0.90 | 1.49 | 1.00 |
| Cash Ratio | 0.47 | 0.47 | 0.69 | 0.46 | 0.16 | 0.16 | 0.23 | 0.28 | 0.16 | 0.71 | 0.18 |
| Asset Turnover | — | 0.35 | 0.74 | 0.80 | 0.84 | 0.85 | 0.71 | 0.65 | 0.62 | 0.87 | 0.95 |
| Inventory Turnover | 4.89 | 4.89 | 6.84 | 6.95 | 7.16 | 8.23 | 8.51 | 5.48 | 5.28 | 5.18 | 6.15 |
| Days Sales Outstanding | — | 39.31 | 30.96 | 29.00 | 28.86 | 33.63 | 36.47 | 36.96 | 35.33 | 34.75 | 36.77 |
JHX Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
James Hardie Industries plc does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business. The earnings yield of 0.8% (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 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | 1.3% | 3.6% | — | 3.0% | 3.0% | 2.2% | 2.5% |
| Payout Ratio | — | — | — | — | 25.3% | 105.4% | — | 65.7% | 75.2% | 121.5% | 63.9% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 0.8% | 1.0% | 4.2% | 2.9% | 5.3% | 3.4% | 1.9% | 4.5% | 4.0% | 1.8% | 3.9% |
| FCF Yield | 1.4% | 2.0% | 3.7% | 2.6% | 0.2% | 3.7% | 5.0% | 4.8% | — | 1.2% | 4.0% |
| Buyback Yield | 0.0% | 0.0% | 1.5% | 1.5% | 0.8% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 1.4% |
| Total Shareholder Yield | 0.0% | 0.0% | 1.5% | 1.5% | 2.2% | 3.6% | 0.0% | 3.0% | 3.0% | 2.2% | 3.9% |
| Shares Outstanding | — | $546M | $432M | $440M | $446M | $446M | $445M | $444M | $443M | $442M | $444M |
Peer Comparison
Compare JHX 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 |
|---|---|---|---|---|---|---|---|---|---|
 JHXYou | $14B | 130.9 | 27.8 | 70.1 | 35.8% | 9.3% | 2.4% | 4.9% | 7.1 |
 MAS | $15B | 19.3 | 12.5 | 17.3 | 35.5% | 16.8% | 7363.6% | 35.4% | 2.4 |
 TREX | $5B | 26.5 | 16.0 | 36.4 | 39.2% | 22.0% | 20.2% | 16.4% | 0.7 |
 IBP | $6B | 22.5 | 13.5 | 19.5 | 34.0% | 13.0% | 37.5% | 20.7% | 2.1 |
 AWI | $7B | 22.3 | 16.5 | 27.4 | 40.6% | 26.6% | 37.2% | 24.9% | 1.2 |
 EXP | $7B | 17.1 | 14.1 | 35.2 | 28.3% | 24.3% | 28.9% | 14.8% | 3.0 |
 DHI | $46B | 13.6 | 10.8 | 13.9 | 23.7% | 12.9% | 14.2% | 12.1% | 1.3 |
 LEN | $22B | 11.2 | 8.6 | 790.5 | 9.9% | 8.0% | 8.3% | 7.9% | 2.2 |
 PHM | $24B | 11.4 | 8.0 | 14.0 | 26.4% | 17.3% | 17.7% | 17.2% | 0.8 |
 HD | $333B | 23.5 | 16.4 | 26.3 | 33.3% | 12.7% | 145.5% | 21.8% | 2.7 |
 LOW | $125B | 18.7 | 13.9 | 16.3 | 33.5% | 11.8% | — | 26.5% | 3.7 |
| Basic Materials Median | — | 23.6 | 11.0 | 29.0 | 30.9% | 10.3% | -0.0% | 4.6% | 2.4 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 26 years · Updated daily
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JHX — Frequently Asked Questions
Quick answers to the most common questions about buying JHX stock.
What is James Hardie Industries plc's P/E ratio?
James Hardie Industries plc's current P/E ratio is 130.9x. The historical average is 33.6x. This places it at the 100th percentile of its historical range.
What is James Hardie Industries plc's EV/EBITDA?
James Hardie Industries plc's current EV/EBITDA is 27.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 20.9x.
What is James Hardie Industries plc's ROE?
James Hardie Industries plc's return on equity (ROE) is 2.4%. The historical average is 32.3%.
Is JHX stock overvalued?
Based on historical data, James Hardie Industries plc is trading at a P/E of 130.9x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are James Hardie Industries plc's profit margins?
James Hardie Industries plc has 35.8% gross margin and 9.3% operating margin.
How much debt does James Hardie Industries plc have?
James Hardie Industries plc's Debt/EBITDA ratio is 7.1x, indicating high leverage. A ratio above 4x may signal elevated financial risk.