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Monday 2 November 2026
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James Hardie Industries PLC.
JHX Basic Materials Building Materials
James Hardie Industries PLC.’s revenue for fiscal 2026 (year ended March 2026) was $4.8 billion, up 24.7% from fiscal 2025.
- Revenue
- +63.9%
- EPS
- +20.0%
- Free cash flow
- +145.1%
- Total debt
- +73.2%
Quarter to June 2026, against a year earlier
27.84
0.60
+2.20%
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Analyst price targets
Free accountTen years at a glance Fiscal years to March
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM Jun ’26 | Trend | 10 yrs | 2027e | 2028e | 2029e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | 1,922 | 2,055 | 2,507 | 2,607 | 2,909 | 3,615 | 3,777 | 3,936 | 3,878 | 4,836 | 5,411 | +10.8% | 5,472 | 5,723 | 6,192 | +8.6% | |
| Gross margin, % | 35.11 | 35.54 | 33.15 | 35.82 | 36.16 | 36.34 | 34.74 | 40.35 | 38.81 | 35.77 | 35.88 | +0.7 pt | ||||||
| EBT | 367 | 174 | 301 | 288 | 412 | 643 | 724 | 755 | 645 | 207 | 274 | (6.2%) | ||||||
| EBT margin, % | 19.10 | 8.48 | 11.99 | 11.05 | 14.16 | 17.79 | 19.15 | 19.18 | 16.64 | 4.27 | 5.07 | (14.8) pt | ||||||
| Net income | 277 | 146 | 229 | 242 | 263 | 459 | 512 | 510 | 424 | 104 | 146 | (10.3%) | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | 4.34 | 4.66 | 5.67 | 5.89 | 6.56 | 8.12 | 8.49 | 8.98 | 9.00 | 8.93 | 9.32 | +8.3% | |||||
| Earnings | 0.62 | 0.33 | 0.52 | 0.55 | 0.59 | 1.03 | 1.15 | 1.16 | 0.98 | 0.19 | 0.25 | (12.4%) | ||||||
| Cash flow | 0.66 | 0.68 | 0.69 | 1.02 | 1.77 | 1.70 | 1.37 | 2.09 | 1.86 | 1.09 | 1.25 | +5.7% | ||||||
| Capex | (0.23) | (0.44) | (0.72) | (0.42) | (0.25) | (0.58) | (1.30) | (1.02) | (0.98) | (0.51) | (0.45) | +9.2% | ||||||
| Free cash flow | 0.43 | 0.24 | (0.03) | 0.60 | 1.53 | 1.12 | 0.07 | 1.07 | 0.88 | 0.58 | 0.80 | +3.4% | ||||||
| Book value | (0.48) | (0.50) | 2.21 | 2.34 | 2.39 | 3.00 | 3.62 | 4.24 | 5.02 | 11.86 | 11.27 | n/m | ||||||
| Shares, m | 443 | 441 | 442 | 443 | 444 | 445 | 445 | 438 | 431 | 542 | 570 | +2.3% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | 25.21 | 53.09 | 25.02 | 22.02 | 51.83 | 29.27 | 18.83 | 34.27 | 24.04 | 86.09 | 111.36 | 37.0 | |||||
| P/S | 3.64 | 3.76 | 2.30 | 2.03 | 4.66 | 3.71 | 2.55 | 4.47 | 2.62 | 2.12 | 2.99 | 3.2 | ||||||
| P/B | 0.00 | 0.00 | 5.92 | 5.12 | 12.79 | 10.06 | 5.98 | 9.46 | 4.70 | 1.60 | 2.47 | 5.6 | ||||||
| EV/Sales | 3.86 | 4.05 | 2.98 | 2.48 | 4.85 | 3.85 | 2.75 | 4.60 | 2.71 | 2.97 | 3.70 | 3.5 | ||||||
| EV/FCF | 39.01 | 78.34 | (553.36) | 24.36 | 20.79 | 36.73 | 341.70 | 38.60 | 27.53 | 45.69 | 43.03 | 9.9 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | 292 | 302 | 304 | 451 | 787 | 757 | 608 | 914 | 803 | 590 | 727 | +8.1% | |||||
| Capex | (102) | (196) | (317) | (186) | (109) | (258) | (577) | (445) | (422) | (276) | (262) | +11.7% | ||||||
| Free cash flow | 190 | 106 | (13) | 265 | 678 | 499 | 30 | 469 | 381 | 314 | 465 | +5.7% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | 203 | 448 | 271 | 398 | 43 | 354 | 378 | 631 | 892 | 669 | 650 | +14.2% | |||||
| Net debt | 424 | 533 | 1,239 | 1,163 | 525 | 501 | 751 | 528 | 340 | 4,090 | 3,838 | +28.6% | ||||||
| Shareholders’ equity | (212) | (221) | 974 | 1,035 | 1,061 | 1,333 | 1,611 | 1,859 | 2,162 | 6,426 | 6,541 | n/m | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | 13.68 | 6.70 | 7.17 | 5.99 | 6.48 | 11.02 | 11.74 | 10.86 | 8.36 | 1.10 | 1.44 | (12.6) pt | |||||
| ROIC | 115.97 | 46.02 | 9.93 | 9.74 | 18.64 | 23.27 | 19.61 | 20.09 | 16.39 | 2.66 | 3.17 | (113.3) pt | ||||||
| ROE | (126.43) | (67.37) | 60.78 | 24.03 | 25.08 | 38.36 | 34.78 | 29.40 | 21.09 | 2.42 | 3.31 | +128.9 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | 3,577 | 3,960 | 4,916 | 4,869 | 4,861 | 5,196 | 5,473 | 5,679 | 5,860 | 7,500 | — | +8.6% | |||||
| Revenue/emp, $m | 0.54 | 0.52 | 0.51 | 0.54 | 0.60 | 0.70 | 0.69 | 0.69 | 0.66 | 0.64 | — | +2.0% | ||||||
Negative figures in brackets.
estimates
Fiscal years to Mar 2026 · latest quarter Jun 2026
Business profile
Where the money comes from and where it goes Fiscal 2026
| Siding & Trim | 2,963 | 61.27% |
|---|---|---|
| Deck, Rail & Accessories | 795 | 16.44% |
| Europe | 557 | 11.52% |
| Australia & New Zealand | 521 | 10.77% |
| Gross margin | 35.77% | |
| Operating margin | 9.26% | |
| Pre-tax margin | 4.27% |
James Hardie Industries PLC. vs peers in Building Materials (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| CRH CRH PLC | $60.4B | 15.9× | 17.1× | +5.59% (above 0%: growing) | +13.85% (above 0%: growing) | −25.90% (below 0%: shrinking) | 39.84% | 18.81% | Compare |
| MLM Martin Marietta Materials, Inc. | $38.4B | 13.3× | 36.6× | +21.01% (above 0%: growing) | −23.16% (below 0%: shrinking) | −107.69% (below 0%: shrinking) | 25.42% | 19.11% | Compare |
| VMC Vulcan Materials Company | $36.1B | 33.0× | 32.4× | +2.54% (above 0%: growing) | +2.47% (above 0%: growing) | −30.88% (below 0%: shrinking) | 29.01% | 21.13% | Compare |
| AMRZ Amrize Ltd | $22.6B | 18.7× | 17.9× | +8.58% (above 0%: growing) | +11.54% (above 0%: growing) | −4.55% (below 0%: shrinking) | 28.42% | 20.32% | Compare |
| CX Cemex S.A.B. de C.V. | $16.2B | 30.6× | 11.9× | +12.24% (above 0%: growing) | +9.09% (above 0%: growing) | +1,454.19% (above 0%: growing) | 35.22% | 13.74% | Compare |
| JHX James Hardie Industries PLC. | $15.8B | 109× | 23.7× | +63.86% (above 0%: growing) | +20.00% (above 0%: growing) | +145.13% (above 0%: growing) | 37.21% | 14.76% | |
| EXP Eagle Materials Inc | $5.6B | 14.5× | 15.3× | +2.56% (above 0%: growing) | −12.70% (below 0%: shrinking) | −44.46% (below 0%: shrinking) | 24.77% | 22.10% | Compare |
| KNF Knife River Corporation | $3.3B | 23.3× | 22.6× | +12.57% (above 0%: growing) | −13.48% (below 0%: shrinking) | +19.76% (above 0%: growing) | 17.34% | 8.64% | Compare |
| USLM United States Lime & Minerals, Inc. | $3.2B | 23.8× | 24.3× | +8.31% (above 0%: growing) | +11.11% (above 0%: growing) | +0.98% (above 0%: growing) | 47.13% | 41.01% | Compare |
| Median of peers | $19.4B | 21.0× | 20.3× | +8.45% | +5.78% | −15.22% | 28.72% | 19.72% |
From the latest earnings call
- On the Q4 FY2026 call, CEO Aaron Erter said returning fiber cement to growth was the company’s priority, with a Midwest pilot being extended to other regions.
- CFO Ryan Lada said James Hardie expected $80 million to $100 million of cost pressure in FY2027 and had announced pricing actions to offset it.
Largest institutional holders 13F, quarter to 30 June 2026
Held by institutions
49.89%
Held by the ten largest
29.39%
| Holder | Shares | Stake | Change |
|---|---|---|---|
| Wellington Management | 40.84m | 7.04% | −11.96m |
| Fidelity (FMR) | 37.79m | 6.51% | +6.54m |
| D1 Capital Partners L.P. | 27.55m | 4.75% | −754.77k |
| Millennium Management | 14.09m | 2.43% | +10.72m |
| Invesco | 11.91m | 2.05% | +11.91m |
| MFS Investment Management | 10.60m | 1.83% | −857.66k |
| Alyeska Investment Group, L.P. | 8.74m | 1.51% | +954.32k |
| Capital Group | 6.81m | 1.17% | +3.69m |
| JPMorgan Chase | 6.21m | 1.07% | −2.17m |
| Slate Path Capital LP | 6.02m | 1.04% | +656.50k |
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.
Pay and ownership Proxy statement filed 1 July 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2026 | 6.55m | (2.46m) | 87.00 |
| 2025 | 10.93m | (12.50m) | 109.00 |
| 2024 | 11.08m | 45.12m | 187.00 |
Ownership
Directors and executive officers, together
1.20% of the votes
Wellington Management Group LLC9
8.00% of the votes
FMR LLC10
6.00% of the votes
Massachusetts Financial Services Company11
5.90% of the votes
Vanguard Capital Management12
5.00% of the votes
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement
James Hardie Industries makes products for home exteriors and outdoor spaces. Its customers use them in new homes, repairs and remodeling projects. The company is incorporated in Ireland, with its registered office in Dublin. Aaron Erter is chief executive officer.
The company’s products include fiber cement siding and trim, which cover and finish the outside of a building. Fiber cement is also used inside buildings for walls, floors and ceilings. James Hardie sells these products under the Hardie brand and makes PVC siding and trim under other brands. Its products are sold through distributors, lumberyards and retailers to contractors, builders and remodelers.