# James Hardie Industries plc (JHX)

> Source: Nexqual · https://nexqual.com/JHX · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, James Hardie Industries plc (JHX), nexqual.com/JHX" · informational, not investment advice.

**Price:** USD 26.54 (+0.91% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 26.3 · day 26.22–26.89 · 52w 16.46–31.43 · market cap $15.4B · NYQ

## Key facts
- Insider open-market sales, last ~7 months: 2 Form 4 filings, $28.3M; 2 not under a Rule 10b5-1 plan ($28.3M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 1 Form 4 filing, $69K; 0 by opportunistic insiders, 0 by routine insiders.
- Total return with dividends: 1Y +20.6% vs S&P 500 +14.9%; 5Y -31.2% vs S&P 500 +80.3%.
- Next earnings: 2026-11-05, EPS estimate USD 0.37, revenue estimate $1.46B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|
| Revenue | $3.94B | $3.88B | $4.84B | — |
| Gross profit | $1.59B | $1.50B | $1.73B | — |
| Operating income | $767M | $656M | $448M | — |
| Net income | $510M | $424M | $104M | — |
| EPS (diluted) | $1.16 | $0.98 | $0.19 | — |
| Free cash flow | $465M | $381M | $206M | — |
| Gross margin | 40.4% | 38.8% | 35.8% | — |
| Operating margin | 19.5% | 16.9% | 9.3% | — |
| Net margin | 13.0% | 10.9% | 2.2% | — |
| Revenue growth | — | -1.5% | +24.7% | — |
| Cash + short-term investments | $416M | $563M | $269M | — |
| Total debt | — | $1.12B | $4.54B | — |
Fiscal years end Mar. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/B 2.4x · Net debt $3.99B · EV $19.4B
P/E at fiscal year-ends: Mar 2026 99.3x, Mar 2025 24.0x, Mar 2024 34.9x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 2 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-25 | Skelly Jonathan | Pres. James Hardie NA | 65,000 | $2.0M | 17.3% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-08-21…2026-08-24 | Singh Jesse G | Director | 871,557 | $26.3M | 69.7% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
1 purchase, $69K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-06-02 | Rowland Suzanne B | Director | 3,000 | $69K | 22.91 | Too little history (no open-market trades in 2023–2025) |

## Analysts
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-13 | Baird | Target lowered | Outperform | $34 → $32 |
| 2026-10-06 | Melius Research | Initiated | Buy | $36 |
| 2026-09-28 | Citigroup | Downgrade | Buy → Neutral |  |
| 2026-09-16 | Oppenheimer | Reiterated | Outperform | $36 |
| 2026-09-14 | Loop Capital | Initiated | Buy | $35 |
| 2026-08-10 | Barclays | Upgrade | Equal-Weight → Overweight | $26 → $35 |
| 2026-08-07 | Stephens & Co. | Target raised | Overweight | $33 → $34 |
| 2026-08-07 | Oppenheimer | Target raised | Outperform | $32 → $36 |
| 2026-08-07 | Truist Securities | Target raised | Buy | $30 → $40 |
| 2026-07-29 | Oppenheimer | Target raised | Outperform | $30 → $32 |
| 2026-07-28 | Stephens & Co. | Target raised | Overweight | $31 → $33 |
| 2026-07-24 | Barclays | Target raised | Equal-Weight | $25 → $26 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +20.6% | -31.2% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +20.7% | -7.2% |
| Volatility (annualized) | 44.5% | 43.3% |
| Max drawdown | -32.4% (Feb 2026→Mar 2026) | -60.3% (Sep 2024→Nov 2025) |

## Peers (Building Materials)
CX (Cemex, S.A.B. de C.V. Sponsored) USD 10.11 -2.69% · AMRZ (Amrize Ltd) USD 39.44 +1.65% · VMC (Vulcan Materials Company (Holdi) USD 268.72 +1.54% · MLM (Martin Marietta Materials, Inc.) USD 517.67 +1.70% · EXP (Eagle Materials Inc) USD 178.74 +3.09% · CRH (CRH PLC) USD 86.43 +0.46%

## More
Full page: https://nexqual.com/JHX · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)


Other companies that name JHX in their own reports (relationship from JHX's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| customer | Builders FirstSource, Inc. (BLDR) | 10-K 2026-02-17 | "Our largest suppliers are national companies such as Boise Cascade Company, Weyerhaeuser Company, West Fraser Timber Co. Ltd., Specialty Building Products, James Hardie Industries plc, and Mitek Indus…" |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Siding & Trim | $859.8M | 58.3% | +34.0% | $214.9M | 25.0% |
| Deck, Rail & Accessories | $305.1M | 20.7% | — | -$3.3M | -1.1% |
| Europe | $156.4M | 10.6% | +14.6% | $20.2M | 12.9% |
| Australia & New Zealand | $153.3M | 10.4% | +26.1% | $46.8M | 30.5% |
| Total revenue | $1.47B | 100% | — | $278.6M | 18.9% |

## Revenue by region (fiscal year ended 2026-03-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $3.54B | 73.3% | +30.9% |
| Australia | $423.3M | 8.8% | +5.5% |
| Other Countries | $393.0M | 8.1% | +4.1% |
| Canada | $213.8M | 4.4% | +37.0% |
| Germany | $163.9M | 3.4% | +14.7% |
| New Zealand | $97.3M | 2.0% | +5.1% |
| Total revenue | $4.84B | 100% | — |

## Customer concentration

Period ended 2026-03-31: 11.3% of revenue from unnamed direct customers (10-K, filed 2026-05-19).

## Company outlook (8-K filed 2026-08-06)

- "Pro Forma Net Sales Increased 12%, Exceeding Original Guidance Siding & Trim Net Sales of $860 Million;"
- "Adjusted EBITDA of $422 Million, Exceeding Original Guidance Cost Synergies Ahead of Schedule;"
- "Revenue Synergies On Track FY27 Outlook Raising Full-Year Outlook Targeting Pro Forma Sales Growth of 5.9% to 9.0% and Pro Forma Adjusted EBITDA Growth of 7.4% to 13.7% for full year FY27;"

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.37 | $0.29 | +29.0% | $1.46B | 8 |
| Next quarter (ends 2026-12-31) | $0.25 | $0.28 | -9.6% | $1.20B | 8 |
| Current fiscal year (ends 2027-03-31) | $1.35 | $1.32 | +2.0% | $5.50B | 9 |
| Next fiscal year (ends 2028-03-31) | $1.58 | $1.63 | -3.4% | $5.72B | 9 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-05): ±12.8%; last 3 reports averaged ±5.9%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 54.4% | ±12.8% |
| 2026-12-18 | 56 | 49.5% | ±16.1% |
| 2027-01-15 | 84 | 50.7% | ±19.9% |
| 2027-03-19 | 147 | 46.3% | ±23.7% |
| 2027-06-17 | 237 | 46.9% | ±30.2% |