What is James Hardie's earnings per share (EPS)?

James Hardie (JHX) 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 Financials

JHX

Source SEC Filings (10-K/10-Q) Updated May 19, 2026 Currency USD FYE May

This page shows James Hardie (JHX) 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 JHX FY2025 2026-05-19

James Hardie’s business engine throws off strong cash, but reported returns move sharply with how hard it reinvests.

From FY2023 to FY2025, free cash flow rebounded from $16.3M to $380.6M even though revenue and earnings did not keep climbing. This implies cash generation here is heavily shaped by reinvestment timing, because capex eased from $591.3M to $422.2M after the FY2023 squeeze.

Gross margin stayed at 38.8%, well above FY2023’s 34.7%, so the factory-level economics did not unwind back to the earlier base. Yet operating margin slipped versus FY2024 while SG&A remained near $596.2M, a sign that the FY2025 profit decline came more from overhead absorption than from a collapse in gross profitability.

Balance-sheet posture improved across the period as debt-to-equity moved from 0.8x in FY2021 to 0.5x in FY2025. Cash reached $562.7M and current assets were about 2.1x current liabilities, leaving the company less reliant on short-term funding while still spending heavily on capital needs and buybacks.

Financial Health Signals

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'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

James Hardie 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

James Hardie'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

James Hardie 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

James Hardie'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

James Hardie 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

James Hardie'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

1.63

James Hardie scores 1.63, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($11.2B) 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 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 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 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 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'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 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 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 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 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 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'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'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'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'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 invested $60.7M in research and development in fiscal year 2026. This represents an increase of 25.2% from the prior year.

Share Buybacks

$149.9M

YoY+0.0%

10Y CAGR+21.0%

James Hardie spent $149.9M on share buybacks in fiscal year 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 0.0% from the prior year.

Capital Expenditures

$383.9M

YoY-9.1%

5Y CAGR+28.2%

10Y CAGR+18.0%

James Hardie 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.

JHX Income Statement

Metric	FY26	FY25	FY24	FY23	FY22	FY21
Revenue	$4.8B+24.7%	$3.9B-1.5%	$3.9B+4.2%	$3.8B+4.5%	$3.6B+24.3%	$2.9B
Cost of Revenue	$3.1B+30.9%	$2.4B+1.0%	$2.3B-4.8%	$2.5B+7.1%	$2.3B+23.9%	$1.9B
Gross Profit	$1.7B+14.9%	$1.5B-5.3%	$1.6B+21.1%	$1.3B-0.1%	$1.3B+24.9%	$1.1B
R&D Expenses	$60.7M+25.2%	$48.5M+3.2%	$47.0M+18.7%	$39.6M+4.2%	$38.0M+10.8%	$34.3M
SG&A Expenses	$946.4M+58.7%	$596.2M-1.0%	$602.2M+21.9%	$494.0M+7.1%	$461.2M+18.4%	$389.6M
Operating Income	$447.6M-31.8%	$655.9M-14.5%	$767.4M+3.5%	$741.4M+8.6%	$682.6M+44.4%	$472.8M
Interest Expense	$231.1M+2143.7%	$10.3M-32.7%	$15.3M-50.2%	$30.7M-21.9%	$39.3M	N/A
Income Tax	$102.7M-53.6%	$221.4M-9.5%	$244.6M+15.7%	$211.5M+14.9%	$184.0M+23.3%	$149.2M
Net Income	$104.0M-75.5%	$424.0M-16.9%	$510.2M-0.4%	$512.0M+11.5%	$459.1M+74.7%	$262.8M
EPS (Diluted)	$0.19-80.6%	$0.98-15.5%	$1.16+0.9%	$1.15+11.7%	$1.03+74.6%	$0.59

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18
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	-$25.5M	N/A	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

JHX Balance Sheet

Metric	FY26	FY25	FY24	FY23	FY22	FY21
Total Assets	$13.7B+161.7%	$5.2B+6.5%	$4.9B+9.7%	$4.5B+5.6%	$4.2B+3.8%	$4.1B
Current Assets	$1.8B+7.3%	$1.7B+19.1%	$1.4B+32.9%	$1.1B-4.4%	$1.1B+19.1%	$943.6M
Cash & Equivalents	$269.2M-52.2%	$562.7M+54.2%	$365.0M+223.0%	$113.0M-9.6%	$125.0M-40.0%	$208.5M
Inventory	$635.7M+83.1%	$347.1M+2.8%	$337.8M-1.9%	$344.2M+23.1%	$279.7M+28.1%	$218.3M
Accounts Receivable	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
Total Liabilities	$7.3B+136.7%	$3.1B+0.5%	$3.1B+6.5%	$2.9B-1.5%	$2.9B-3.9%	$3.0B
Current Liabilities	$1.2B+42.9%	$810.2M+1.6%	$797.7M+14.4%	$697.3M-9.4%	$769.9M-14.6%	$901.1M
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
Total Equity	$6.4B+197.3%	$2.2B+16.3%	$1.9B+15.4%	$1.6B+20.9%	$1.3B+25.7%	$1.1B
Retained Earnings	$1.8B+6.0%	$1.7B+19.3%	$1.4B+20.8%	$1.2B+34.1%	$892.4M+46.0%	$611.4M

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18
Total Assets	$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+71.5%	$2.4B
Current Assets	$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-10.5%	$842.6M
Cash & Equivalents	$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-72.1%	$281.6M
Inventory	$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+24.1%	$255.7M
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$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+4004.1%	$4.9M
Total Liabilities	$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+18.9%	$2.6B
Current Liabilities	$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+22.4%	$394.6M
Long-Term Debt	$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+56.1%	$884.4M
Total Equity	$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+539.9%	-$221.5M
Retained Earnings	$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+190.8%	-$635.3M

JHX Cash Flow Statement

Metric	FY26	FY25	FY24	FY23	FY22	FY21
Operating Cash Flow	$589.8M-26.5%	$802.8M-12.2%	$914.2M+50.5%	$607.6M-19.8%	$757.2M-3.8%	$786.9M
Capital Expenditures	$383.9M-9.1%	$422.2M-6.0%	$449.3M-24.0%	$591.3M+129.4%	$257.8M+132.9%	$110.7M
Free Cash Flow	$205.9M-45.9%	$380.6M-18.1%	$464.9M+2752.1%	$16.3M-96.7%	$499.4M-26.1%	$676.2M
Investing Cash Flow	-$4.2B-842.1%	-$446.7M+5.1%	-$470.5M+28.7%	-$660.1M-89.6%	-$348.2M-189.2%	-$120.4M
Financing Cash Flow	$3.4B+2119.8%	-$165.9M+21.0%	-$210.1M-727.2%	-$25.4M+94.4%	-$449.6M+16.8%	-$540.2M
Dividends Paid	N/A	$0	$0-100.0%	$129.6M-73.2%	$484.0M	$0
Share Buybacks	$149.9M0.0%	$149.9M-44.8%	$271.4M+246.2%	$78.4M	$0	$0

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$295.0M
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

JHX Financial Ratios

Metric	FY26	FY25	FY24	FY23	FY22	FY21
Gross Margin	35.8%-3.0pp	38.8%-1.5pp	40.4%+5.6pp	34.7%-1.6pp	36.3%+0.2pp	36.2%
Operating Margin	9.3%-7.7pp	16.9%-2.6pp	19.5%-0.1pp	19.6%+0.8pp	18.9%+2.6pp	16.3%
Net Margin	2.1%-8.8pp	10.9%-2.0pp	13.0%-0.6pp	13.6%+0.9pp	12.7%+3.7pp	9.0%
Return on Equity	1.6%-18.0pp	19.6%-7.8pp	27.5%-4.3pp	31.8%-2.7pp	34.4%+9.7pp	24.8%
Return on Assets	0.8%-7.4pp	8.1%-2.3pp	10.4%-1.0pp	11.4%+0.6pp	10.8%+4.4pp	6.4%
Current Ratio	1.58-0.5	2.10+0.3	1.79+0.2	1.54+0.1	1.46+0.4	1.05
Debt-to-Equity	0.70+0.2	0.51-0.1	0.60-0.1	0.660.0	0.66-0.2	0.81
FCF Margin	4.3%-5.6pp	9.8%-2.0pp	11.8%+11.4pp	0.4%-13.4pp	13.8%-9.4pp	23.3%

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18
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	2.10+0.3	1.79+0.2	1.54+0.1	1.46+0.4	1.05-0.7	1.78+0.2	1.56-0.6	2.14
Debt-to-Equity	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+5.4	-3.99
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is James Hardie's annual revenue?

James Hardie (JHX) 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.

How fast is James Hardie's revenue growing?

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

Is James Hardie profitable?

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

What is James Hardie's EBITDA?

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

How much debt does James Hardie have?

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

What is James Hardie's gross margin?

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

What is James Hardie's operating margin?

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

What is James Hardie's net profit margin?

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

What is James Hardie's return on equity (ROE)?

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

What is James Hardie's free cash flow?

James Hardie (JHX) 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.

What is James Hardie's operating cash flow?

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

What are James Hardie's total assets?

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

What are James Hardie's capital expenditures?

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

How much does James Hardie spend on research and development?

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

Does James Hardie buy back shares?

Yes, James Hardie (JHX) spent $149.9M on share buybacks during fiscal year 2026, returning capital to shareholders by reducing shares outstanding.

How many shares does James Hardie have outstanding?

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

What is James Hardie's current ratio?

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

What is James Hardie's debt-to-equity ratio?

James Hardie (JHX) 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.

What is James Hardie's return on assets (ROA)?

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

What is James Hardie's Altman Z-Score?

James Hardie (JHX) has an Altman Z-Score of 1.63, 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.

What is James Hardie's Piotroski F-Score?

James Hardie (JHX) 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.

Are James Hardie's earnings high quality?

James Hardie (JHX) 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.

Can James Hardie cover its interest payments?

James Hardie (JHX) 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.

How financially healthy is James Hardie?

James Hardie (JHX) 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.