Recent News
May 15, 2026 — James Hardie appointed Rob Sindel as an independent non‑executive director effective June 1, 2026. June 23, 2026 — David Weekley Homes named James Hardie a 2026 National Preferred Partner. June 26, 2026 — Company announced redemption activity for a tranche of senior notes. July 2, 2026 — Proxy materials/AGM notice published setting the annual meeting for August 20–21, 2026. The company continues to disclose ongoing class‑action litigation scheduled for trial in early July 2026.
Technical Analysis
Directional indicators show an emerging trend: ADX at 21.46 signals an emerging trend environment rather than a strong one, so momentum remains workable but not overextended.
DI+ shows a dip‑and‑reversal and DI‑ trends downward; that combination reads as bullish directional pressure and supports further near‑term upside against the current valuation backdrop.
MACD sits positive at 0.95 with the MACD signal at 0.70 and a MACD trend described as a dip‑and‑reversal; the MACD has crossed above its signal line, a bullish momentum confirmation that favors continuation of the current rally.
MRO registers -7.51 (negative, dip‑and‑reversal), indicating price sits below model target and therefore carries potential to rise toward that target; strength of that potential remains moderate given the MRO magnitude.
RSI at 60.5 and rising signals upward momentum without classical overbought extremes, which supports room to run while monitoring any move above typical overbought thresholds.
Price sits above key averages: the 12‑day EMA at $27.55 (increasing), the 20‑day average $26.94, the 50‑day average $25.29 and well above the 200‑day average $22.14; being above short and long averages reinforces a bullish near‑term bias and aligns with the valuation case for recovery.
Price matches the upper Bollinger boundary at roughly $30.23 (upper 2× band), which denotes a stretched intraday level and creates a short‑term reference for potential consolidation; volume of ~12.2M exceeds the 10‑day and 200‑day averages, confirming higher participation in the move.
Ichimoku values place price above Tenkan‑Sen ($27.58) and Kijun‑Sen ($27.30) with Senkou spans forming a higher cloud reference, supporting bullish momentum; SuperTrend lower at $27.75 offers a technical support reference beneath current price.
Fundamental Analysis
Profitability: EBIT stands at $108.7M and EBITDA at $271.7M. EBIT margin sits at 7.743%, below the industry peer mean of 14.805% and below the industry peer median of 15.925%, while above the industry peer low. QoQ, EBIT margin contracted by 45.518%; YoY, EBIT margin expanded by 116.769% (reported). Operating margin measures 15.485% and return on sales mirrors that level, reflecting operational leverage despite margin compression quarter‑over‑quarter.
Top line and growth: Total revenue equals $1,403.9M. Reported revenue growth reads 13.236%; reported revenue growth year‑over‑year value in the dataset equals 593.347% (as provided). Earnings growth on the dataset shows 25.0% year‑over‑year, while earnings growth QoQ shows a sharp negative swing (‑107.353% QoQ), indicating quarter‑to‑quarter volatility in profitability.
Cash flow and liquidity: Operating cash flow totals $134.4M; free cash flow stands at $53.3M, giving a free cash flow yield of ~0.44%. The cash conversion cycle approximates 40.7 days. Current ratio at 1.58 and quick ratio at 1.03 indicate available near‑term liquidity but not ample excess.
Leverage and coverage: Total debt $4,785.7M with net debt $4,265.8M produces debt to equity ~0.745 and debt to assets ~0.3496. Debt to EBITDA measures 17.61x and interest coverage ≈1.74x, highlighting meaningful leverage and constrained interest coverage that pressurizes cash flow flexibility.
Valuation multiples: Trailing P/E ~69.7x, forward P/E ~58.09x, price‑to‑book ~1.89x, price‑to‑sales ~8.64x, enterprise multiple ~61.27x, and EVR ~11.86. WMDST values the stock as under‑valued; the valuation signal reflects a view that current price does not fully incorporate an anticipated normalization of operating margins and cash conversion improvements given the company’s revenue base and asset footprint.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-03-31 |
| REPORT DATE: | 2026-05-19 |
| NEXT REPORT DATE: | 2026-08-18 |
| CASH FLOW | Begin Period Cash Flow | $ 374.9 M |
| Operating Cash Flow | $ 134.4 M | |
| Capital Expenditures | $ -81.10 M | |
| Change In Working Capital | $ -116.40 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ -30.50 M | |
| End Period Cash Flow | $ 344.4 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 1.4 B | |
| Forward Revenue | $ 2.8 B | |
| COSTS | ||
| Cost Of Revenue | $ 880.5 M | |
| Depreciation | $ 163.0 M | |
| Depreciation and Amortization | $ 163.0 M | |
| Research and Development | $ 16.2 M | |
| Total Operating Expenses | $ 1.2 B | |
| PROFITABILITY | ||
| Gross Profit | $ 523.4 M | |
| EBITDA | $ 271.7 M | |
| EBIT | $ 108.7 M | |
| Operating Income | $ 217.4 M | |
| Interest Income | — | |
| Interest Expense | $ 62.3 M | |
| Net Interest Income | $ -62.30 M | |
| Income Before Tax | $ 46.4 M | |
| Tax Provision | $ 17.9 M | |
| Tax Rate | 38.578 % | |
| Net Income | $ 28.5 M | |
| Net Income From Continuing Operations | $ 28.5 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.30 | |
| EPS Actual | $ 0.30 | |
| EPS Difference | $ 0.00 | |
| EPS Surprise | 1.34 % | |
| Forward EPS | $ 0.40 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 13.7 B | |
| Intangible Assets | $ 8.1 B | |
| Net Tangible Assets | $ -1.70 B | |
| Total Current Assets | $ 1.8 B | |
| Cash and Short-Term Investments | $ 269.2 M | |
| Cash | $ 269.2 M | |
| Net Receivables | $ 441.0 M | |
| Inventory | $ 635.7 M | |
| Long-Term Investments | $ 27.2 M | |
| LIABILITIES | ||
| Accounts Payable | $ 351.4 M | |
| Short-Term Debt | $ 43.8 M | |
| Total Current Liabilities | $ 1.2 B | |
| Net Debt | $ 4.3 B | |
| Total Debt | $ 4.8 B | |
| Total Liabilities | $ 7.3 B | |
| EQUITY | ||
| Total Equity | $ 6.4 B | |
| Retained Earnings | $ 1.8 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 11.08 | |
| Shares Outstanding | 580.174 M | |
| Revenue Per-Share | $ 2.42 | |
| VALUATION | Market Capitalization | $ 12.1 B |
| Enterprise Value | $ 16.6 B | |
| Enterprise Multiple | 61.266 | |
| Enterprise Multiple QoQ | 14.936 % | |
| Enterprise Multiple YoY | -51.553 % | |
| Enterprise Multiple IPRWA | high: 138.618 median: 94.801 mean: 85.104 JHX: 61.266 low: -55.76 |
|
| EV/R | 11.857 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.13 | |
| Asset To Liability | 1.885 | |
| Debt To Capital | 0.427 | |
| Debt To Assets | 0.35 | |
| Debt To Assets QoQ | -0.735 % | |
| Debt To Assets YoY | 51.734 % | |
| Debt To Assets IPRWA | high: 0.78 JHX: 0.35 mean: 0.308 median: 0.248 low: 0.006 |
|
| Debt To Equity | 0.745 | |
| Debt To Equity QoQ | -2.01 % | |
| Debt To Equity YoY | 33.601 % | |
| Debt To Equity IPRWA | high: 1.744 JHX: 0.745 median: 0.537 mean: 0.521 low: -1.447 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.888 | |
| Price To Book QoQ | -5.235 % | |
| Price To Book YoY | -63.755 % | |
| Price To Book IPRWA | high: 14.269 mean: 6.186 median: 6.129 JHX: 1.888 low: -5.69 |
|
| Price To Earnings (P/E) | 69.688 | |
| Price To Earnings QoQ | -23.885 % | |
| Price To Earnings YoY | -4.216 % | |
| Price To Earnings IPRWA | high: 348.684 mean: 127.597 median: 114.109 JHX: 69.688 low: -106.741 |
|
| PE/G Ratio | 2.788 | |
| Price To Sales (P/S) | 8.64 | |
| Price To Sales QoQ | -15.935 % | |
| Price To Sales YoY | -25.441 % | |
| Price To Sales IPRWA | high: 19.824 median: 13.489 mean: 13.271 JHX: 8.64 low: 0.198 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 58.089 | |
| Forward PE/G | 2.324 | |
| Forward P/S | 4.576 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -2.894 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.102 | |
| Asset Turnover Ratio QoQ | 14.804 % | |
| Asset Turnover Ratio YoY | -46.71 % | |
| Asset Turnover Ratio IPRWA | high: 0.474 mean: 0.229 median: 0.225 JHX: 0.102 low: 0.047 |
|
| Receivables Turnover | 3.734 | |
| Receivables Turnover Ratio QoQ | 0.994 % | |
| Receivables Turnover Ratio YoY | 15.204 % | |
| Receivables Turnover Ratio IPRWA | JHX: 3.734 high: 2.956 mean: 1.52 median: 1.419 low: 0.718 |
|
| Inventory Turnover | 1.353 | |
| Inventory Turnover Ratio QoQ | 11.426 % | |
| Inventory Turnover Ratio YoY | -21.195 % | |
| Inventory Turnover Ratio IPRWA | high: 3.875 mean: 1.566 median: 1.44 JHX: 1.353 low: 0.179 |
|
| Days Sales Outstanding (DSO) | 24.439 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 40.744 | |
| Cash Conversion Cycle Days QoQ | 77.589 % | |
| Cash Conversion Cycle Days YoY | 20.357 % | |
| Cash Conversion Cycle Days IPRWA | high: 198.937 mean: 79.917 median: 63.399 JHX: 40.744 low: 2.167 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 2.097 | |
| CapEx To Revenue | -0.058 | |
| CapEx To Depreciation | -0.498 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 10.9 B | |
| Net Invested Capital | $ 11.0 B | |
| Invested Capital | $ 11.0 B | |
| Net Tangible Assets | $ -1.70 B | |
| Net Working Capital | $ 669.4 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.233 | |
| Current Ratio | 1.578 | |
| Current Ratio QoQ | 2.28 % | |
| Current Ratio YoY | -24.856 % | |
| Current Ratio IPRWA | high: 5.721 mean: 1.802 JHX: 1.578 median: 1.095 low: 0.779 |
|
| Quick Ratio | 1.029 | |
| Quick Ratio QoQ | 8.854 % | |
| Quick Ratio YoY | -38.452 % | |
| Quick Ratio IPRWA | high: 4.762 mean: 1.211 JHX: 1.029 median: 0.854 low: 0.619 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 17.614 | |
| Cost Of Debt | 0.793 % | |
| Interest Coverage Ratio | 1.745 | |
| Interest Coverage Ratio QoQ | -35.041 % | |
| Interest Coverage Ratio YoY | -90.446 % | |
| Interest Coverage Ratio IPRWA | high: 51.538 median: 13.3 mean: 12.596 JHX: 1.745 low: -20.842 |
|
| Operating Cash Flow Ratio | -0.194 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 58.708 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -0.84 % | |
| Revenue Growth | 13.236 % | |
| Revenue Growth QoQ | -426.412 % | |
| Revenue Growth YoY | 593.347 % | |
| Revenue Growth IPRWA | high: 32.602 % JHX: 13.236 % mean: 0.971 % median: 0.039 % low: -35.007 % |
|
| Earnings Growth | 25.0 % | |
| Earnings Growth QoQ | -107.353 % | |
| Earnings Growth YoY | — | |
| Earnings Growth IPRWA | high: 60.902 % JHX: 25.0 % mean: 4.194 % median: -6.923 % low: -75.893 % |
|
| MARGINS | ||
| Gross Margin | 37.282 % | |
| Gross Margin QoQ | 3.129 % | |
| Gross Margin YoY | -2.846 % | |
| Gross Margin IPRWA | high: 56.662 % JHX: 37.282 % mean: 34.819 % median: 34.775 % low: 9.553 % |
|
| EBIT Margin | 7.743 % | |
| EBIT Margin QoQ | -45.518 % | |
| EBIT Margin YoY | 116.769 % | |
| EBIT Margin IPRWA | high: 26.893 % median: 15.925 % mean: 14.805 % JHX: 7.743 % low: -21.828 % |
|
| Return On Sales (ROS) | 15.485 % | |
| Return On Sales QoQ | 5.541 % | |
| Return On Sales YoY | 333.511 % | |
| Return On Sales IPRWA | high: 24.317 % median: 15.618 % JHX: 15.485 % mean: 14.78 % low: -12.238 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 53.3 M | |
| Free Cash Flow Yield | 0.439 % | |
| Free Cash Flow Yield QoQ | -40.595 % | |
| Free Cash Flow Yield YoY | -12.024 % | |
| Free Cash Flow Yield IPRWA | high: 6.62 % median: 0.555 % JHX: 0.439 % mean: 0.061 % low: -9.739 % |
|
| Free Cash Growth | -42.811 % | |
| Free Cash Growth QoQ | -86.098 % | |
| Free Cash Growth YoY | -38.553 % | |
| Free Cash Growth IPRWA | high: 336.077 % JHX: -42.811 % median: -48.508 % mean: -69.753 % low: -416.974 % |
|
| Free Cash To Net Income | 1.87 | |
| Cash Flow Margin | -15.97 % | |
| Cash Flow To Earnings | -7.867 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 0.207 % | |
| Return On Assets QoQ | -58.012 % | |
| Return On Assets YoY | -75.93 % | |
| Return On Assets IPRWA | high: 6.228 % median: 2.646 % mean: 2.335 % JHX: 0.207 % low: -5.798 % |
|
| Return On Capital Employed (ROCE) | 0.867 % | |
| Return On Equity (ROE) | 0.004 | |
| Return On Equity QoQ | -58.659 % | |
| Return On Equity YoY | -77.987 % | |
| Return On Equity IPRWA | high: 0.205 median: 0.045 mean: 0.044 JHX: 0.004 low: -0.17 |
|
| DuPont ROE | 0.445 % | |
| Return On Invested Capital (ROIC) | 0.609 % | |
| Return On Invested Capital QoQ | -38.732 % | |
| Return On Invested Capital YoY | -22.321 % | |
| Return On Invested Capital IPRWA | high: 8.77 % mean: 3.822 % median: 3.814 % JHX: 0.609 % low: -6.723 % |
|