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James Hardie Ind Financials

JHIUF
Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE March

This page shows James Hardie Ind (JHIUF) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI JHIUF FY2025

James Hardie’s statements show a cash-generative operating model using retained earnings to delever while supporting heavier reinvestment over recent years.

Net income and operating cash flow still agree unusually well, which points to earnings quality backed by cash rather than mostly accruals, with operating cash flow of $803M against net income of $424M in the latest year. But free cash flow has become far more capex-sensitive: capital spending rose to $422M from $111M earlier in the period, so a larger share of operating cash now has to be reinvested before it becomes flexible cash for buybacks, debt reduction, or balance-sheet buildup.

Deleveraging came more from equity growth than debt reduction, a sign the company has been strengthening itself through retained profits rather than leaning on external financing. Long-term debt stayed near $1.1B, while retained earnings reached $1.7B, so the balance sheet improved mainly because earnings were kept in the business.

Gross-profit economics improved, but companywide profit did not keep the full benefit, which makes the margin story more about internal cost absorption than a straightforward revenue gain. Gross margin rose from 34.7% to 38.8%, yet operating margin finished the latest year below the prior one, implying higher overhead and depreciation absorbed part of the manufacturing improvement.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 50 / 100
Financial Profile 50/100

Based on FY2026 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of James Hardie Ind's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability
52

James Hardie Ind has an operating margin of 9.3%, meaning the company retains $9 of operating profit per $100 of revenue. This results in a moderate score of 52/100, indicating healthy but not exceptional operating efficiency. This is down from 16.9% the prior year.

Growth
51

James Hardie Ind's revenue surged 24.7% year-over-year to $4.8B, reflecting rapid business expansion. This strong growth earns a score of 51/100.

Leverage
88

James Hardie Ind carries a low D/E ratio of 0.70, meaning only $0.70 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 88/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
27

James Hardie Ind's current ratio of 1.58 is below the typical benchmark, resulting in a score of 27/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow
44

James Hardie Ind has a free cash flow margin of 4.3%, earning a moderate score of 44/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns
38

James Hardie Ind's ROE of 1.6% shows moderate profitability relative to equity, earning a score of 38/100. This is down from 19.6% the prior year.

Altman Z-Score Distress
1.66

James Hardie Ind scores 1.66, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($11.6B) relative to total liabilities ($7.3B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Piotroski F-Score Weak
3/9

James Hardie Ind passes 3 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Cash-Backed
5.67x

For every $1 of reported earnings, James Hardie Ind generates $5.67 in operating cash flow ($589.8M OCF vs $104.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage At Risk
1.9x

James Hardie Ind earns $1.9 in operating income for every $1 of interest expense ($447.6M vs $231.1M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue
$4.8B
YoY+24.7%
5Y CAGR+10.7%
10Y CAGR+10.8%

James Hardie Ind generated $4.8B in revenue in fiscal year 2026. This represents an increase of 24.7% from the prior year.

EBITDA
$941.1M
YoY+7.9%
5Y CAGR+9.1%
10Y CAGR+8.1%

James Hardie Ind's EBITDA was $941.1M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 7.9% from the prior year.

Net Income
$104.0M
YoY-75.5%
5Y CAGR-16.9%
10Y CAGR-8.2%

James Hardie Ind reported $104.0M in net income in fiscal year 2026. This represents a decrease of 75.5% from the prior year.

EPS (Diluted)
$0.19
YoY-80.6%
5Y CAGR-20.3%
10Y CAGR-10.1%

James Hardie Ind earned $0.19 per diluted share (EPS) in fiscal year 2026. This represents a decrease of 80.6% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$205.9M
YoY-45.9%
5Y CAGR-21.2%
10Y CAGR+1.0%

James Hardie Ind generated $205.9M in free cash flow in fiscal year 2026, representing cash available after capex. This represents a decrease of 45.9% from the prior year.

Cash & Debt
$269.2M
YoY-52.2%
5Y CAGR+5.2%
10Y CAGR+9.7%

James Hardie Ind held $269.2M in cash against $4.5B in long-term debt as of fiscal year 2026.

Dividends Per Share
N/A
Shares Outstanding
580M
YoY+35.0%
5Y CAGR+5.5%
10Y CAGR+2.7%

James Hardie Ind had 580M shares outstanding in fiscal year 2026. This represents an increase of 35.0% from the prior year.

Margins & Returns

Gross Margin
35.8%
YoY-3.0pp
5Y CAGR-0.4pp
10Y CAGR-0.8pp

James Hardie Ind's gross margin was 35.8% in fiscal year 2026, indicating the percentage of revenue retained after direct costs. This is down 3.0 percentage points from the prior year.

Operating Margin
9.3%
YoY-7.7pp
5Y CAGR-7.0pp
10Y CAGR-11.2pp

James Hardie Ind's operating margin was 9.3% in fiscal year 2026, reflecting core business profitability. This is down 7.7 percentage points from the prior year.

Net Margin
2.1%
YoY-8.8pp
5Y CAGR-6.9pp
10Y CAGR-12.0pp

James Hardie Ind's net profit margin was 2.1% in fiscal year 2026, showing the share of revenue converted to profit. This is down 8.8 percentage points from the prior year.

Return on Equity
1.6%
YoY-18.0pp
5Y CAGR-23.2pp

James Hardie Ind's ROE was 1.6% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is down 18.0 percentage points from the prior year.

Capital Allocation

R&D Spending
$60.7M
YoY+25.2%
5Y CAGR+12.1%
10Y CAGR+7.5%

James Hardie Ind invested $60.7M in research and development in fiscal year 2026. This represents an increase of 25.2% from the prior year.

Share Buybacks
$0
YoY-100.0%

James Hardie Ind spent $0 on share buybacks in fiscal year 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.

Capital Expenditures
$383.9M
YoY-9.1%
5Y CAGR+28.2%
10Y CAGR+18.0%

James Hardie Ind invested $383.9M in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents a decrease of 9.1% from the prior year.

JHIUF Income Statement

Metric Q4'26 Q4'25 Q4'24 Q4'23 Q4'22 Q4'21 Q4'20 Q4'19
Revenue N/A N/A N/A N/A N/A N/A N/A N/A
Cost of Revenue N/A N/A N/A N/A N/A N/A N/A N/A
Gross Profit N/A N/A N/A N/A N/A N/A N/A N/A
R&D Expenses N/A N/A N/A N/A N/A N/A N/A N/A
SG&A Expenses N/A N/A N/A N/A N/A N/A N/A N/A
Operating Income N/A N/A N/A N/A N/A N/A N/A N/A
Interest Expense N/A N/A N/A N/A N/A N/A N/A N/A
Income Tax N/A N/A N/A N/A N/A N/A -$25.5M N/A
Net Income N/A N/A N/A N/A N/A N/A N/A N/A
EPS (Diluted) N/A N/A N/A N/A N/A N/A N/A N/A

JHIUF Balance Sheet

Metric Q4'26 Q4'25 Q4'24 Q4'23 Q4'22 Q4'21 Q4'20 Q4'19
Total Assets $13.7B+161.7% $5.2B+6.5% $4.9B+9.7% $4.5B+5.6% $4.2B+3.8% $4.1B+1.5% $4.0B-0.1% $4.0B
Current Assets $1.8B+7.3% $1.7B+19.1% $1.4B+32.9% $1.1B-4.4% $1.1B+19.1% $943.6M+3.9% $908.4M+20.5% $754.1M
Cash & Equivalents $269.2M-52.2% $562.7M+54.2% $365.0M+223.0% $113.0M-9.6% $125.0M-40.0% $208.5M+44.4% $144.4M+83.5% $78.7M
Inventory $635.7M+83.1% $347.1M+2.8% $337.8M-1.9% $344.2M+23.1% $279.7M+28.1% $218.3M-28.4% $305.1M-3.9% $317.4M
Accounts Receivable N/A N/A N/A N/A N/A N/A N/A N/A
Goodwill $4.8B+2367.9% $193.7M+0.6% $192.6M-1.2% $194.9M-2.3% $199.5M-4.7% $209.3M+6.3% $196.9M-2.1% $201.1M
Total Liabilities $7.3B+136.7% $3.1B+0.5% $3.1B+6.5% $2.9B-1.5% $2.9B-3.9% $3.0B+1.2% $3.0B-2.1% $3.1B
Current Liabilities $1.2B+42.9% $810.2M+1.6% $797.7M+14.4% $697.3M-9.4% $769.9M-14.6% $901.1M+76.7% $510.0M+5.6% $483.0M
Long-Term Debt $4.5B+304.6% $1.1B-0.4% $1.1B+5.3% $1.1B+20.7% $877.3M+2.2% $858.6M-36.6% $1.4B-1.9% $1.4B
Total Equity $6.4B+197.3% $2.2B+16.3% $1.9B+15.4% $1.6B+20.9% $1.3B+25.7% $1.1B+2.5% $1.0B+6.3% $974.4M
Retained Earnings $1.8B+6.0% $1.7B+19.3% $1.4B+20.8% $1.2B+34.1% $892.4M+46.0% $611.4M-7.3% $659.5M+14.3% $577.1M

JHIUF Cash Flow Statement

Metric Q4'26 Q4'25 Q4'24 Q4'23 Q4'22 Q4'21 Q4'20 Q4'19
Operating Cash Flow N/A N/A N/A N/A N/A N/A N/A N/A
Capital Expenditures N/A N/A N/A N/A N/A N/A N/A N/A
Free Cash Flow N/A N/A N/A N/A N/A N/A N/A N/A
Investing Cash Flow N/A N/A N/A N/A N/A N/A N/A N/A
Financing Cash Flow N/A N/A N/A N/A N/A N/A N/A N/A
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks N/A N/A N/A N/A N/A N/A N/A N/A

JHIUF Financial Ratios

Metric Q4'26 Q4'25 Q4'24 Q4'23 Q4'22 Q4'21 Q4'20 Q4'19
Gross Margin N/A N/A N/A N/A N/A N/A N/A N/A
Operating Margin N/A N/A N/A N/A N/A N/A N/A N/A
Net Margin N/A N/A N/A N/A N/A N/A N/A N/A
Return on Equity N/A N/A N/A N/A N/A N/A N/A N/A
Return on Assets N/A N/A N/A N/A N/A N/A N/A N/A
Current Ratio 1.58-0.5 2.10+0.3 1.79+0.2 1.54+0.1 1.46+0.4 1.05-0.7 1.78+0.2 1.56
Debt-to-Equity 0.70+0.2 0.51-0.1 0.60-0.1 0.660.0 0.66-0.2 0.81-0.5 1.31-0.1 1.42
FCF Margin N/A N/A N/A N/A N/A N/A N/A N/A

Frequently Asked Questions

James Hardie Ind (JHIUF) reported $4.8B in total revenue for fiscal year 2026. This represents a 24.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

James Hardie Ind (JHIUF) revenue grew by 24.7% year-over-year, from $3.9B to $4.8B in fiscal year 2026.

Yes, James Hardie Ind (JHIUF) reported a net income of $104.0M in fiscal year 2026, with a net profit margin of 2.1%.

James Hardie Ind (JHIUF) reported diluted earnings per share of $0.19 for fiscal year 2026. This represents a -80.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

James Hardie Ind (JHIUF) had EBITDA of $941.1M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2026, James Hardie Ind (JHIUF) had $269.2M in cash and equivalents against $4.5B in long-term debt.

James Hardie Ind (JHIUF) had a gross margin of 35.8% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.

James Hardie Ind (JHIUF) had an operating margin of 9.3% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.

James Hardie Ind (JHIUF) had a net profit margin of 2.1% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.

James Hardie Ind (JHIUF) has a return on equity of 1.6% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.

James Hardie Ind (JHIUF) generated $205.9M in free cash flow during fiscal year 2026. This represents a -45.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

James Hardie Ind (JHIUF) generated $589.8M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.

James Hardie Ind (JHIUF) had $13.7B in total assets as of fiscal year 2026, including both current and long-term assets.

James Hardie Ind (JHIUF) invested $383.9M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.

James Hardie Ind (JHIUF) invested $60.7M in research and development during fiscal year 2026.

James Hardie Ind (JHIUF) had 580M shares outstanding as of fiscal year 2026.

James Hardie Ind (JHIUF) had a current ratio of 1.58 as of fiscal year 2026, which is generally considered healthy.

James Hardie Ind (JHIUF) had a debt-to-equity ratio of 0.70 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.

James Hardie Ind (JHIUF) had a return on assets of 0.8% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.

James Hardie Ind (JHIUF) has an Altman Z-Score of 1.66, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

James Hardie Ind (JHIUF) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

James Hardie Ind (JHIUF) has an earnings quality ratio of 5.67x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

James Hardie Ind (JHIUF) has an interest coverage ratio of 1.9x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

James Hardie Ind (JHIUF) scores 50 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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