|JHG Overview
JHG

JANUS HENDERSON GROUP PLC

Financials • CIK: 0001274173

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Market Cap
$7.23B
P/E (TTM)
9.1x
Rev Growth (TTM)
+25.2%
Net Margin (TTM)
25.8%
FCF Yield (TTM)
9.8%
FCF Margin (TTM)
23.0%

LATEST EARNINGS

Q3 2025
4 months ago
View source
Revenue
$700.40M
+12.1%
Net Income
$142.10M
+420.9%
EPS
$0.92
+441.2%
Operating
24.6% -1.8%
Net
20.3% +15.9%
  • Assets under management (AUM) reached US$483.8 billion, a 27% increase year-over-year and a 6% increase quarter-over-quarter.
  • Sixth consecutive quarter of positive net inflows, with US$7.8 billion in the third quarter 2025.
  • Solid long-term investment performance, with 74% of AUM outperforming benchmarks on a three-year basis.
  • Adjusted diluted EPS increased 20% year-over-year to US$1.09.

Cash Flow Health

Free Cash Flow7/8 positive
TTM$711M
Q4 '25
$320M+25%
Q3 '25
$256M+92%
FCF Margin
TTM23.0%
Q4 '2528.0%-23%
Sector: 22.2%Above Avg
OCF Margin23.2%
OCF/NI0.90x
CapEx Coverage83.7x
FCF Yield9.8%
FCF Growth (2Y)+16%
Cash Conversion Cycle
0 days
DSO: 0+DIO: DPO:

Capital Allocation & Returns

Balanced
Total Shareholder YieldEst.
Est.3.3%
Div Yield3.3%
+
Est. Buyback3.9%

Balancing returns with reinvestment

Dividend & Payout Metrics
Dividend Yield (TTM)3.3%
FCF Payout Ratio34.0%
Free Cash Flow (TTM)$710.9M
Capital Return / FCF35.1%
Est. Dividends Paid (TTM)$241.7M
Estimated: Buyback data estimated from FCF. Actual repurchase data not available for this company.
Shows how management rewards shareholders

Operational Efficiency & Returns

Return on Invested CapitalTTM
P25MedianP75
(med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
Asset Turnover
0.42x
8Q: 0.37x
Leverage (1+D/E)
1.08x
D/E: 0.08x
Asset & CapEx Efficiency
Fixed Asset Turn
85.53x
8Q:66.59x
+5186.8%
CapEx/Depreciation
0.24x
Depreciation Rate Trend
⚠ Declining -5.3%
Asset-based ROIC formula

QUARTERLY TRENDS

Last 8 quarters + TTM

MetricTTMQ4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q3 2024Q3 2024
Revenue
$3.1B
$1.1B63.1%
$700.4M10.6%
$633.2M1.9%
$621.4M12.3%
$708.3M13.4%
$624.8M6.2%
$588.4M6.7%
$551.7M
Operating Income
$976.8M
$487.4M183.4%
$172.0M5.0%
$163.8M6.6%
$153.6M22.2%
$197.5M19.9%
$164.7M0.2%
$164.3M37.8%
$119.2M
Net Income
$798.1M
$394.5M184.2%
$138.8M5.3%
$146.5M23.8%
$118.3M0.3%
$118.7M346.2%
$26.6M79.0%
$126.5M0.5%
$127.1M
Operating Cash Flow
$719.5M
$322.7M24.7%
$258.8M91.4%
$135.2M4728.6%
$2.8M98.9%
$247.3M8.2%
$228.5M2.1%
$223.8M4576.0%
$-5.0M
Free Cash Flow
$710.9M
$320.4M25.0%
$256.4M92.5%
$133.2M14700.0%
$900.0K99.6%
$243.5M7.8%
$225.9M1.8%
$221.9M3363.2%
$-6.8M
Total Equity
N/A

Valuation Analysis

Fair Value
Price-to-EarningsTTM
9.1x
Volatile
8Q: 44.3x-5669%
Valuation Lenses
Earnings
9.1x
vs sector
Cash Flow
8.7x
EV/FCF vs
Growth-Adj
0.1xPEG
Undervalued for growth
Quality-Adj
P/E per %ROIC
ROIC: –
Shareholder Returns
Dividend
3.3%
Buyback
Total Yield
3.3%
Market Cap$7.23B
EV$6.17B
Multi-angle valuation analysis with sector context

Business Quality & Moat

Overall Quality Score
86/100
Exceptional

Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)

Returns on Capital

Return on Equity (ROE)Top 25%
16.7%
8Q:
Return on Invested Capital (ROIC)
8Q:
vs Sector:0.1%

Earnings Quality

Cash Conversion

0.90x

OCF / Net Income

FCF Consistency

Positive quarters

Competitive Moat Indicators

Pricing Power

Gross Margin

Capital Efficiency

Invested Capital Turnover

Working Capital

Cash Conversion Cycle0 days

Growth Quality & Momentum

Quality Growth
Growth Quality Score
78/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%

Growth Rates

Revenue Growth YoY
25.2%
OpInc Growth YoY
146.8%
EPS Growth YoY
105.5%
FCF 3Y CAGR
16.0%

Growth Quality Analysis

Sustainability Index: 7.5/10 - Highly sustainable growth

Margin Quality & Sustainability

Moderate
Profitability Cascade
Gross
Operating
Net
25.8%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
FCF vs Net Gap
-2.8 pts
FCF: 23.0% | Net: 25.8%

Quality = stability + cash conversion + low dilution

Balance Sheet & Solvency

Fortress
Net Debt / EBITDA
Net Cash
(0.0x)Net Cash: $1.26B
Interest Coverage
+Net cash position: $1.26B
Leverage Metrics
Debt-to-Equity
0.08x
Balance sheet risk & solvency analysis