James Hardie Industries plc JHX
Except as the context otherwise may require, references in this Annual Report on Form 10-K (this "Annual Report") to "James Hardie," the "James Hardie Group," the "Company," "JHI plc," "we," "our" or "us" refer to James Hardie Industries plc, together with its direct and indirect wholly owned subsidiaries as of the time relevant to the applicable reference.
James Hardie Industries plc is a leading provider of exterior home and outdoor living solutions, serving the new home construction, repair and remodel and outdoor living markets. Our current primary geographic markets include the United States of America ("US," "USA" or the "United States"), Australia and Europe. On July 1, 2025, we completed the acquisition of The AZEK Company Inc. ("AZEK"), an industry-leading designer and manufacturer of low maintenance and environmentally sustainable outdoor living products, which has manufacturing and recycling facilities in the United States.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.84B | $3.88B | $3.94B | $3.78B | $3.61B | $2.91B | $2.61B | $2.51B | $2.05B | $1.92B |
| Cost of revenue | $3.11B | $2.37B | $2.35B | $2.47B | $2.30B | $1.86B | $1.67B | $1.68B | $1.32B | $1.25B |
| Gross profit | $1.73B | $1.50B | $1.59B | $1.31B | $1.31B | $1.05B | $933.7M | $831.0M | $730.2M | $674.7M |
| R&D | $60.7M | $48.5M | $47.0M | $39.6M | $38.0M | $34.3M | $32.8M | $37.9M | $33.3M | $30.3M |
| SG&A | $946.4M | $596.2M | $602.2M | $494.0M | $461.2M | $389.6M | $415.8M | $403.6M | $311.3M | $291.6M |
| Operating income | $447.6M | $655.9M | $767.4M | $741.4M | $682.6M | $472.8M | $342.5M | $351.6M | $229.2M | $393.2M |
| Interest expense | $231.1M | $10.3M | $15.3M | $30.7M | $39.3M | — | $57.5M | $54.2M | $32.9M | $28.5M |
| Pre-tax income | $206.7M | $645.4M | $754.8M | $723.5M | $643.1M | $412.0M | $288.0M | $300.6M | $174.3M | $367.0M |
| Income tax | $102.7M | $221.4M | $244.6M | $211.5M | $184.0M | $149.2M | $46.5M | $71.8M | $28.2M | $90.5M |
| Net income | $104.0M | $424.0M | $510.2M | $512.0M | $459.1M | $262.8M | $241.5M | $228.8M | $146.1M | $276.5M |
| EPS, basic | 0.19 | 0.98 | 1.16 | 1.15 | 1.03 | 0.59 | 0.55 | 0.52 | 0.33 | 0.62 |
| EPS, diluted | 0.19 | 0.98 | 1.16 | 1.15 | 1.03 | 0.59 | 0.54 | 0.52 | 0.33 | 0.62 |
| Shares, diluted (wtd. avg.) | $545.5M | $432.1M | $439.6M | $445.6M | $445.9M | $445.4M | $444.1M | $443.0M | $442.3M | $443.9M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $269.2M | $562.7M | $415.8M | $185.6M | $271.9M | $318.4M | $185.8M | $123.6M | $313.2M | $78.9M |
| Inventory | $635.7M | $347.1M | $337.8M | $344.2M | $279.7M | $218.3M | $305.1M | $317.4M | $255.7M | $202.9M |
| Total current assets | $1.83B | $1.70B | $1.43B | $1.08B | $1.12B | $943.6M | $908.4M | $754.1M | $842.6M | $632.1M |
| Property, plant and equipment | $3.08B | $2.17B | $2.04B | $1.84B | $1.46B | $1.37B | $1.34B | $1.39B | $992.1M | $879.0M |
| Goodwill | $4.78B | $193.7M | $192.6M | $194.9M | $199.5M | $209.3M | $196.9M | $201.1M | $4.9M | — |
| Other intangibles | $3.34B | $145.6M | $149.2M | $155.2M | $162.8M | $173.9M | $166.7M | $174.4M | $12.3M | — |
| Total assets | $13.69B | $5.23B | $4.91B | $4.48B | $4.24B | $4.09B | $4.03B | $4.03B | $2.35B | $2.01B |
| Accounts payable | $712.5M | $446.4M | $463.3M | $387.7M | $458.0M | $307.0M | $274.7M | $255.5M | $193.3M | $173.5M |
| Short-term debt | $43.8M | $9.4M | $7.5M | $0 | — | — | — | — | — | — |
| Total current liabilities | $1.16B | $810.2M | $797.7M | $697.3M | $769.9M | $901.1M | $510.0M | $483.0M | $394.6M | $428.8M |
| Long-term debt | $4.49B | $1.11B | $1.12B | $1.06B | $877.3M | $858.6M | $1.35B | $1.38B | $884.4M | $564.5M |
| Total liabilities | $7.26B | $3.07B | $3.05B | $2.87B | $2.91B | $3.03B | $2.99B | $3.06B | $2.57B | $2.22B |
| Retained earnings | $1.83B | $1.73B | $1.45B | $1.20B | $892.4M | $611.4M | $659.5M | $577.1M | -$635.3M | -$612.9M |
| Total equity | $6.43B | $2.16B | $1.86B | $1.61B | $1.33B | $1.06B | $1.04B | $974.4M | -$221.5M | -$212.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $589.8M | $802.8M | $914.2M | $607.6M | $757.2M | $786.9M | $451.2M | $304.0M | $308.5M | $382.5M |
| Depreciation and amortisation | $493.5M | $216.2M | $185.0M | $172.6M | $161.8M | $135.0M | $131.5M | $119.4M | $92.0M | $83.2M |
| Stock-based compensation | $38.0M | $23.0M | $28.2M | $15.7M | $9.0M | $18.0M | $10.3M | $12.5M | $11.1M | $9.3M |
| Capital expenditure | $383.9M | $422.2M | $449.3M | $591.3M | $257.8M | $110.7M | $193.8M | $317.5M | $210.2M | $101.9M |
| Investing cash flow | -$4.21B | -$446.7M | -$470.5M | -$660.1M | -$348.2M | -$120.4M | -$203.8M | -$864.4M | -$245.5M | -$109.0M |
| Financing cash flow | $3.35B | -$165.9M | -$210.1M | -$25.4M | -$449.6M | -$540.2M | -$179.0M | $364.2M | $60.6M | -$210.0M |
| Dividends paid | — | $0 | $0 | $129.6M | $484.0M | $0 | $158.6M | $172.1M | $177.5M | $176.8M |
| Buybacks | $0 | $149.9M | $271.4M | $78.4M | $0 | $0 | — | $0 | $0 | $99.8M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-046522.
Others in SIC 3272
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| SMID | SMITH MIDLAND CORP | $138.1M | 11.0x | 19.0% |