Recent News
On August 3, 2026 the company and Boise Cascade expanded a U.S. distribution partnership, with Boise Cascade becoming the sole nationwide distributor for James Hardie’s exterior product portfolio effective July 31, 2026. On August 20, 2026 James Hardie filed a current report disclosing a Share Purchase Agreement with Holcim Westbeteiligungs GmbH. On June 25, 2026 the company announced the redemption of senior unsecured notes.
Technical Analysis
ADX sits at 15.45, indicating no established trend; that low strength increases the likelihood that price will consolidate rather than sustain a directional move, aligning with the view of near-term pullback before recovery tied to valuation support.
DI+ at 26.55 shows a peak-and-reversal, a bearish directional signal; DI- at 25.04 shows a dip-and-reversal, which also reads as bearish pressure. Together they underscore weakening trend participation and raise the chance of a transient downside leg that should test support levels implied by longer-term averages.
MACD registered a peak-and-reversal and sits at 0.17 below its signal line at 0.49, a bearish momentum profile. That loss of momentum complements the directional indicators and suggests short-term downside pressure on price action before moving averages can reassert an up bias.
MRO at 21.38 (peak-and-reversal) positions the price above calculated target and therefore signals a likely moderation in price; the oscillator strength implies measurable downside potential rather than a marginal drift.
RSI at 55.7 with a peak-and-reversal indicates momentum rolling over from a neutral zone; the reading supports a pause or pullback rather than an immediate breakout, consistent with the MACD and directional signals.
Price sits at $28.33, below the 12‑day EMA of $29.09 (peak-and-reversal) and near the 20‑day average of $29.34, while remaining above the 200‑day average of $23.46. That structure implies short-term resistance near the 20‑day/12‑day band and longer-term support closer to the 200‑day average; lower-than-10‑day average volume (6.84M vs 9.20M) reduces the conviction behind intraday moves.
Fundamental Analysis
Revenue totaled $1,474,600,000 with reported revenue growth at 5.04%; reported quarter-over-quarter revenue change shows a sharp decline of -61.95% and year-over-year revenue change reads -168.33%. Gross profit reached $548,700,000 producing a gross margin of 37.21%, slightly above the industry peer mean of 35.50% and the industry peer median of 35.57%, which supports a premium over peers on unit profitability.
EBIT of $218,800,000 yields an EBIT margin of 14.84%; that margin sits below the industry peer mean of 17.12% and the industry peer median of 17.83%. EBIT margin rose sharply quarter-over-quarter by 91.63% but fell year-over-year by 20.85%, which signals temporary operational improvement versus the prior quarter while trailing the prior year’s margin performance.
Operating margin of 16.13% and operating income of $237,900,000 register below the industry peer mean operating margin of 17.59% and the industry peer median of 19.27%, indicating room to close the gap if recent operational actions scale as planned.
Balance-sheet and liquidity metrics: cash and short-term investments equal $289,900,000; current ratio stands at 1.59, marginally below the industry peer mean of 1.68 but above the industry peer median of 1.07. Cash conversion cycle equals 39.3 days, notably shorter than the industry peer mean of 72.76 days and the median of 52.17 days, indicating relatively efficient working-capital turnover.
Leverage: debt-to-assets equals 33.51%, modestly above the industry peer mean of 29.11% and above the peer median of 24.45%; debt-to-equity equals 69.14%, above the industry peer mean of 51.14% and median of 53.54%. Interest coverage approximates 3.56x but declined year-over-year; the capital structure shows elevated leverage versus peers while coverage remains positive.
Cash generation metrics favor valuation: free cash flow totaled $254,200,000 with a free cash flow yield of 1.75%, above the industry peer mean of 1.32% and the median of 1.03%, and free cash to net income at 243.72% points to strong conversion of earnings to cash. Enterprise multiple near 48.45 sits below the industry peer mean of 65.32, while forward P/E of 56.58 sits below the industry peer mean of 87.17, both reflecting market-implied moderation relative to some peers.
WMDST values the stock as under-valued given margin resilience, above-average free cash flow yield versus peers, and a lower enterprise multiple; the valuation case depends on stabilization of recent operational shifts and the successful execution of announced distribution and balance-sheet actions.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-06-30 |
| REPORT DATE: | 2026-08-18 |
| NEXT REPORT DATE: | 2026-11-17 |
| CASH FLOW | Begin Period Cash Flow | $ 344.4 M |
| Operating Cash Flow | $ 344.0 M | |
| Capital Expenditures | $ -89.80 M | |
| Change In Working Capital | $ 40.2 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ -22.40 M | |
| End Period Cash Flow | $ 322.0 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 1.5 B | |
| Forward Revenue | $ 844.3 M | |
| COSTS | ||
| Cost Of Revenue | $ 925.9 M | |
| Depreciation | $ 168.8 M | |
| Depreciation and Amortization | $ 168.8 M | |
| Research and Development | $ 15.4 M | |
| Total Operating Expenses | $ 1.2 B | |
| PROFITABILITY | ||
| Gross Profit | $ 548.7 M | |
| EBITDA | $ 387.6 M | |
| EBIT | $ 218.8 M | |
| Operating Income | $ 237.9 M | |
| Interest Income | — | |
| Interest Expense | $ 61.5 M | |
| Net Interest Income | $ -61.50 M | |
| Income Before Tax | $ 157.3 M | |
| Tax Provision | $ 53.0 M | |
| Tax Rate | 33.694 % | |
| Net Income | $ 104.3 M | |
| Net Income From Continuing Operations | $ 104.3 M | |
| EARNINGS | ||
| EPS Estimate | — | |
| EPS Actual | — | |
| EPS Difference | — | |
| EPS Surprise | — | |
| Forward EPS | $ 0.41 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 13.5 B | |
| Intangible Assets | $ 8.0 B | |
| Net Tangible Assets | $ -1.50 B | |
| Total Current Assets | $ 1.8 B | |
| Cash and Short-Term Investments | $ 289.9 M | |
| Cash | $ 289.9 M | |
| Net Receivables | $ 499.6 M | |
| Inventory | $ 612.1 M | |
| Long-Term Investments | $ 70.9 M | |
| LIABILITIES | ||
| Accounts Payable | $ 699.6 M | |
| Short-Term Debt | $ 43.8 M | |
| Total Current Liabilities | $ 1.1 B | |
| Net Debt | $ 4.0 B | |
| Total Debt | $ 4.5 B | |
| Total Liabilities | $ 7.0 B | |
| EQUITY | ||
| Total Equity | $ 6.5 B | |
| Retained Earnings | $ 1.9 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 11.27 | |
| Shares Outstanding | 580.354 M | |
| Revenue Per-Share | $ 2.54 | |
| VALUATION | Market Capitalization | $ 14.5 B |
| Enterprise Value | $ 18.8 B | |
| Enterprise Multiple | 48.446 | |
| Enterprise Multiple QoQ | -20.925 % | |
| Enterprise Multiple YoY | -35.263 % | |
| Enterprise Multiple IPRWA | high: 102.159 median: 69.729 mean: 65.315 JHX: 48.446 low: -29.83 |
|
| EV/R | 12.734 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.063 | |
| Asset To Liability | 1.941 | |
| Debt To Capital | 0.409 | |
| Debt To Assets | 0.335 | |
| Debt To Assets QoQ | -4.142 % | |
| Debt To Assets YoY | -12.858 % | |
| Debt To Assets IPRWA | high: 0.793 JHX: 0.335 mean: 0.291 median: 0.244 low: 0.005 |
|
| Debt To Equity | 0.691 | |
| Debt To Equity QoQ | -7.174 % | |
| Debt To Equity YoY | -40.232 % | |
| Debt To Equity IPRWA | high: 1.784 JHX: 0.691 median: 0.535 mean: 0.511 low: -1.539 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 2.224 | |
| Price To Book QoQ | 17.81 % | |
| Price To Book YoY | -65.713 % | |
| Price To Book IPRWA | high: 12.015 median: 6.379 mean: 6.272 JHX: 2.224 low: -5.298 |
|
| Price To Earnings (P/E) | — | |
| Price To Earnings QoQ | — | |
| Price To Earnings YoY | — | |
| Price To Earnings IPRWA | — | |
| PE/G Ratio | — | |
| Price To Sales (P/S) | 9.864 | |
| Price To Sales QoQ | 14.17 % | |
| Price To Sales YoY | -39.344 % | |
| Price To Sales IPRWA | high: 16.307 median: 13.003 mean: 11.61 JHX: 9.864 low: 0.155 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 56.575 | |
| Forward PE/G | — | |
| Forward P/S | 17.71 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 20.113 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.108 | |
| Asset Turnover Ratio QoQ | 6.237 % | |
| Asset Turnover Ratio YoY | -27.56 % | |
| Asset Turnover Ratio IPRWA | high: 0.528 median: 0.272 mean: 0.265 JHX: 0.108 low: 0.051 |
|
| Receivables Turnover | 3.135 | |
| Receivables Turnover Ratio QoQ | -16.025 % | |
| Receivables Turnover Ratio YoY | 13.603 % | |
| Receivables Turnover Ratio IPRWA | high: 3.141 JHX: 3.135 median: 1.587 mean: 1.563 low: 0.704 |
|
| Inventory Turnover | 1.484 | |
| Inventory Turnover Ratio QoQ | 9.682 % | |
| Inventory Turnover Ratio YoY | -3.787 % | |
| Inventory Turnover Ratio IPRWA | high: 4.019 mean: 1.721 median: 1.632 JHX: 1.484 low: 0.258 |
|
| Days Sales Outstanding (DSO) | 29.103 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 39.3 | |
| Cash Conversion Cycle Days QoQ | -3.544 % | |
| Cash Conversion Cycle Days YoY | 20.256 % | |
| Cash Conversion Cycle Days IPRWA | high: 179.868 mean: 72.759 median: 52.173 JHX: 39.3 low: -3.93 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 2.27 | |
| CapEx To Revenue | -0.061 | |
| CapEx To Depreciation | -0.532 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 10.8 B | |
| Net Invested Capital | $ 10.8 B | |
| Invested Capital | $ 10.8 B | |
| Net Tangible Assets | $ -1.50 B | |
| Net Working Capital | $ 649.7 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.261 | |
| Current Ratio | 1.586 | |
| Current Ratio QoQ | 0.457 % | |
| Current Ratio YoY | -57.827 % | |
| Current Ratio IPRWA | high: 5.629 mean: 1.684 JHX: 1.586 median: 1.073 low: 0.831 |
|
| Quick Ratio | 1.034 | |
| Quick Ratio QoQ | 0.464 % | |
| Quick Ratio YoY | -68.725 % | |
| Quick Ratio IPRWA | high: 4.576 mean: 1.144 JHX: 1.034 median: 0.827 low: 0.64 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 11.667 | |
| Cost Of Debt | 0.876 % | |
| Interest Coverage Ratio | 3.558 | |
| Interest Coverage Ratio QoQ | 103.907 % | |
| Interest Coverage Ratio YoY | -95.993 % | |
| Interest Coverage Ratio IPRWA | high: 70.864 mean: 19.32 median: 16.81 JHX: 3.558 low: -7.157 |
|
| Operating Cash Flow Ratio | 0.528 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 54.46 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -1.426 % | |
| Revenue Growth | 5.036 % | |
| Revenue Growth QoQ | -61.952 % | |
| Revenue Growth YoY | -168.331 % | |
| Revenue Growth IPRWA | high: 49.254 % mean: 18.583 % median: 17.507 % JHX: 5.036 % low: -10.041 % |
|
| Earnings Growth | — | |
| Earnings Growth QoQ | — | |
| Earnings Growth YoY | — | |
| Earnings Growth IPRWA | — | |
| MARGINS | ||
| Gross Margin | 37.21 % | |
| Gross Margin QoQ | -0.193 % | |
| Gross Margin YoY | -0.606 % | |
| Gross Margin IPRWA | high: 54.957 % JHX: 37.21 % median: 35.566 % mean: 35.495 % low: 6.548 % |
|
| EBIT Margin | 14.838 % | |
| EBIT Margin QoQ | 91.631 % | |
| EBIT Margin YoY | -20.851 % | |
| EBIT Margin IPRWA | high: 28.538 % median: 17.832 % mean: 17.124 % JHX: 14.838 % low: -5.595 % |
|
| Return On Sales (ROS) | 16.133 % | |
| Return On Sales QoQ | 4.185 % | |
| Return On Sales YoY | -13.944 % | |
| Return On Sales IPRWA | high: 24.405 % median: 19.27 % mean: 17.587 % JHX: 16.133 % low: -5.595 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 254.2 M | |
| Free Cash Flow Yield | 1.748 % | |
| Free Cash Flow Yield QoQ | 298.178 % | |
| Free Cash Flow Yield YoY | 146.544 % | |
| Free Cash Flow Yield IPRWA | high: 4.675 % JHX: 1.748 % mean: 1.323 % median: 1.03 % low: -4.289 % |
|
| Free Cash Growth | 376.923 % | |
| Free Cash Growth QoQ | -980.435 % | |
| Free Cash Growth YoY | 345.957 % | |
| Free Cash Growth IPRWA | high: 384.722 % JHX: 376.923 % median: 85.05 % mean: -38.804 % low: -743.655 % |
|
| Free Cash To Net Income | 2.437 | |
| Cash Flow Margin | 39.76 % | |
| Cash Flow To Earnings | 5.621 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 0.767 % | |
| Return On Assets QoQ | 270.531 % | |
| Return On Assets YoY | -26.392 % | |
| Return On Assets IPRWA | high: 6.089 % median: 3.945 % mean: 3.306 % JHX: 0.767 % low: -5.791 % |
|
| Return On Capital Employed (ROCE) | 1.767 % | |
| Return On Equity (ROE) | 0.016 | |
| Return On Equity QoQ | 259.234 % | |
| Return On Equity YoY | -42.502 % | |
| Return On Equity IPRWA | high: 0.207 mean: 0.068 median: 0.056 JHX: 0.016 low: -0.144 |
|
| DuPont ROE | 1.609 % | |
| Return On Invested Capital (ROIC) | 1.341 % | |
| Return On Invested Capital QoQ | 120.197 % | |
| Return On Invested Capital YoY | -45.532 % | |
| Return On Invested Capital IPRWA | high: 12.294 % mean: 5.58 % median: 5.296 % JHX: 1.341 % low: -9.088 % |
|