stockrowJames 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
Follow JHX
Alert me
James Hardie Industries PLC. (JHX) Altman Z-score
James Hardie Industries PLC.'s Altman Z-score for fiscal 2026 is 1.55, in the distress zone (below 1.81).
Altman Z-score, annual
Embed this chart
Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | 1.55 | (2.25) |
| FY2025 | 3.81 | (1.56) |
| FY2024 | 5.37 | 1.49 |
| FY2023 | 3.88 | (0.66) |
| FY2022 | 4.54 | 0.54 |
| FY2021 | 4.00 | 1.66 |
| FY2020 | 2.34 | 0.03 |
| FY2019 | 2.31 | (0.58) |
| FY2018 | 2.89 | (0.29) |
| FY2017 | 3.18 | 0.49 |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.05 | — | 0.06 | |
| Retained earnings / total assets | 0.13 | — | 0.19 | |
| EBIT / total assets | 0.03 | — | 0.11 | |
| Market value of equity / total liabilities | 1.41 | — | 0.85 | |
| Sales / total assets | 0.35 | — | 0.35 | |
| Altman Z-score | Distress zone | 1.55 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Grey zone | 1.91 | ||
Z and Z″ put James Hardie Industries PLC. in different zones: distress zone by Z, grey zone by Z″.
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| USLM United States Lime & Minerals, Inc. compare | 44.3× |
| VMC Vulcan Materials Company compare | 4.2× |
| MLM Martin Marietta Materials, Inc. compare | 3.8× |
| EXP Eagle Materials Inc compare | 3.4× |
| CRH CRH PLC compare | 3.2× |
| KNF Knife River Corporation compare | 2.9× |
| AMRZ Amrize Ltd compare | 2.5× |
| CX Cemex S.A.B. de C.V. compare | 1.6× |
| JHX James Hardie Industries PLC. | 1.6× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets