Johnson Matthey (JMAT) AI Stock Analysis

• Market Cap: £3.64B
• Dividend Yield: 3.56%
• Average Volume (3M): 360.18K
• Price to Earnings (P/E): 10.2
• Beta (1Y): 1.26
• Revenue Growth: -9.10%
• EPS Growth: 239.75%
• Country: UK
• Employees: 11,685
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Chemicals - Specialty
• EPS (TTM): 0.92
• Shares Outstanding: 168,055,760
• 10 Day Avg. Volume: 376,510
• 30 Day Avg. Volume: 360,183
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: £2,204.00
• Price Target Upside: 2.04% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 5

• Rating: 76 Outperform
• Price Target: 2,365.00p ▲(9.49% Upside)

Johnson Matthey's stock score is driven by a positive earnings call outlook and strong valuation metrics. While financial performance shows mixed results, the technical analysis supports a bullish trend. The strategic sale of Catalyst Technologies and commitment to shareholder returns are significant positives.

Johnson Matthey Business Overview & Revenue Model

Company Description

Johnson Matthey (JMAT) is a global leader in sustainable technologies, specializing in catalysis, precious metals, and specialty chemicals. Founded in 1817, the company operates across various sectors, including automotive, pharmaceuticals, and industrial processes. Its core offerings include catalytic converters for vehicles, advanced materials for batteries, and precious metal refining, all aimed at delivering innovative solutions that contribute to a sustainable future.

How the Company Makes Money

Johnson Matthey generates revenue primarily through the sale of catalytic converters, which are essential for reducing vehicle emissions and are a key component of the automotive sector. Additionally, the company earns significant income from its precious metals division, where it refines and recycles precious metals, catering to various industries including jewelry, electronics, and investment. The company's revenue model is bolstered by long-term contracts with automotive manufacturers, partnerships with technology firms for innovative product development, and a strong position in the growing markets of battery materials and clean energy solutions, particularly in the context of increasing global focus on sustainability and emissions reduction.

Johnson Matthey Financial Statement Overview

Summary

Johnson Matthey demonstrates a mixed financial performance with improved profitability and leverage ratios in 2025, showcasing better operational efficiency and financial stability. However, challenges remain with declining revenues, lower EBITDA margins, and weakened cash flow generation.

Income Statement

Johnson Matthey shows a mixed performance in its income statement. The company has experienced fluctuating revenue levels, with a notable decline in revenue from 2024 to 2025. Gross profit margin remains relatively stable, but the net profit margin has improved significantly in 2025 due to a higher net income. The EBIT margin increased in 2025, suggesting better operational efficiency. However, the EBITDA margin is lower than in past years due to a reduced EBITDA, indicating potential challenges in managing operational costs.

Balance Sheet

The balance sheet reveals a strong equity position with a stable stockholders' equity and a favorable equity ratio. The debt-to-equity ratio shows a moderate level of leverage, which decreased in 2025, reflecting improved financial stability. The return on equity has improved significantly in 2025, indicating effective use of equity to generate profit. However, the total assets have decreased over the years, which could limit growth opportunities.

Cash Flow

Cash flow analysis shows some concerns. Operating cash flow has decreased significantly in 2025, highlighting potential issues in core operations. Free cash flow has also declined sharply, posing liquidity challenges. The free cash flow to net income ratio is low, indicating limited conversion of net income into free cash. These trends may affect the company's ability to invest and grow in the future.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	11.67B	11.67B	12.84B	14.93B	16.02B	15.44B
Gross Profit	898.00M	899.00M	927.00M	989.00M	1.05B	944.00M
EBITDA	514.00M	802.00M	488.00M	621.00M	467.00M	564.00M
Net Income	373.00M	373.00M	108.00M	276.00M	-101.00M	205.00M
Balance Sheet
Total Assets	6.19B	6.19B	6.34B	7.03B	6.67B	7.74B
Cash, Cash Equivalents and Short-Term Investments	898.00M	898.00M	542.00M	697.00M	418.00M	625.00M
Total Debt	1.70B	1.70B	1.49B	1.67B	1.25B	1.38B
Total Liabilities	3.90B	3.90B	3.96B	4.49B	4.22B	5.06B
Stockholders Equity	2.29B	2.29B	2.38B	2.54B	2.44B	2.69B
Cash Flow
Free Cash Flow	66.00M	8.00M	224.00M	-91.00M	73.00M	295.00M
Operating Cash Flow	381.00M	381.00M	592.00M	225.00M	526.00M	676.00M
Investing Cash Flow	297.00M	297.00M	-255.00M	-129.00M	-292.00M	-357.00M
Financing Cash Flow	-333.00M	-333.00M	-439.00M	191.00M	-439.00M	-43.00M

Johnson Matthey Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2160.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:JMAT, the sentiment is Positive. The current price of 2160 is above the 20-day moving average (MA) of 2099.20, above the 50-day MA of 1994.16, and above the 200-day MA of 1627.98, indicating a bullish trend. The MACD of 51.95 indicates Negative momentum. The RSI at 70.57 is Negative, neither overbought nor oversold. The STOCH value of 84.62 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:JMAT.

Johnson Matthey Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JMAT	―	£3.64B	10.23	15.96%	3.56%	-9.10%	239.75%
CRDA	―	£4.11B	29.39	6.17%	3.22%	2.36%	-13.99%
VCT	―	£586.22M	19.74	6.65%	8.84%	4.75%	-3.29%
Sector *	―	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
ZTF	―	£222.47M	316.67	0.60%	1.73%	15.56%	-92.94%
ELM	―	£978.08M	-17.25	3.37%	1.32%	-11.78%	-92.61%
SYNT	―	£91.59M	-1.10	-7.26%	―	-4.41%	2.29%

Johnson Matthey Corporate Events

Johnson Matthey Executives Acquire Shares Under Incentive Plan

Johnson Matthey Plc announced the monthly acquisition of shares by several key executives, including the CEO and other senior leaders, through the company’s Share Incentive Plan. This move signifies a continued commitment to aligning the interests of management with shareholders, potentially impacting the company’s market perception positively.

The most recent analyst rating on (GB:JMAT) stock is a Hold with a £2100.00 price target. To see the full list of analyst forecasts on Johnson Matthey stock, see the GB:JMAT Stock Forecast page.

Johnson Matthey Reclassifies Catalyst Technologies and Reports Strong Half-Year Performance

Johnson Matthey has announced the reclassification of its Catalyst Technologies segment following its sale to Honeywell International Inc., expected to complete by the first half of 2026. The segment will be reported as a discontinued operation for the 2025/26 financial year. The company also provided a pre-close trading update for the half year ended September 2025, indicating strong performance in underlying operating profit driven by efficiency improvements and robust trading in the PGM Services business. Despite an expected cash outflow in the first half, a significant year-on-year improvement is anticipated, with a positive outlook for the full year. The Catalyst Technologies segment faces challenges with weaker demand, but maintains strong long-term growth potential.

The most recent analyst rating on (GB:JMAT) stock is a Hold with a £21.00 price target. To see the full list of analyst forecasts on Johnson Matthey stock, see the GB:JMAT Stock Forecast page.

Johnson Matthey Executives Acquire Shares Under Incentive Plan

Johnson Matthey Plc has announced the acquisition of shares by several key executives, including the CEO and Chief Technology Officer, as part of the company’s Share Incentive Plan. This move reflects the company’s ongoing commitment to align management interests with shareholder value, potentially strengthening stakeholder confidence and enhancing its market position.

The most recent analyst rating on (GB:JMAT) stock is a Buy with a £2067.00 price target. To see the full list of analyst forecasts on Johnson Matthey stock, see the GB:JMAT Stock Forecast page.

Johnson Matthey Announces Total Voting Rights Update

Johnson Matthey Plc has announced its total voting rights as of August 29, 2025, in compliance with the FCA’s Disclosure Guidance and Transparency Rules. The company reported a total issued share capital of 177,287,098 ordinary shares, with 168,055,752 shares carrying one voting right each. This update is significant for shareholders as it affects their notification requirements regarding their interest in the company.

The most recent analyst rating on (GB:JMAT) stock is a Buy with a £2067.00 price target. To see the full list of analyst forecasts on Johnson Matthey stock, see the GB:JMAT Stock Forecast page.

Johnson Matthey Chair Purchases Significant Shares

Johnson Matthey Plc announced a transaction involving the purchase of 10,495 ordinary shares by its Chair, Andrew Cosslett, at a price of £18.96 per share, totaling £198,985.20. This transaction, conducted on the London Stock Exchange, signifies a potential vote of confidence in the company’s future prospects and could impact investor perception positively.

The most recent analyst rating on (GB:JMAT) stock is a Buy with a £2067.00 price target. To see the full list of analyst forecasts on Johnson Matthey stock, see the GB:JMAT Stock Forecast page.

Johnson Matthey Executives Reinforce Confidence with Share Purchases

Johnson Matthey PLC announced transactions involving the purchase of ordinary shares by several key executives, including the CEO and other senior managers, through reinvested dividends in company incentive plans. These transactions, conducted on the London Stock Exchange, reflect ongoing confidence in the company’s financial health and strategic direction, potentially impacting shareholder value and market perception positively.

The most recent analyst rating on (GB:JMAT) stock is a Hold with a £17.00 price target. To see the full list of analyst forecasts on Johnson Matthey stock, see the GB:JMAT Stock Forecast page.

Johnson Matthey Executives Participate in Share Incentive Plan

Johnson Matthey Plc announced the monthly acquisition of shares by several key executives, including the CEO and other senior leaders, through the company’s Share Incentive Plan. This transaction, conducted on the London Stock Exchange, underscores the company’s commitment to aligning management interests with shareholder value, potentially strengthening investor confidence in its strategic direction.

The most recent analyst rating on (GB:JMAT) stock is a Hold with a £17.00 price target. To see the full list of analyst forecasts on Johnson Matthey stock, see the GB:JMAT Stock Forecast page.

Johnson Matthey Announces Executive Share Awards Under Performance Plan

Johnson Matthey Plc has announced a series of share awards under its 2025-2028 Performance Share Plan to key executives, including the CEO, CFO, and other senior leaders. These awards are contingent on performance conditions over a three-year period, with shares vesting on the third anniversary of the award date. This move is likely to align the interests of the management with those of the shareholders, potentially enhancing the company’s strategic focus and operational performance.

The most recent analyst rating on (GB:JMAT) stock is a Hold with a £17.00 price target. To see the full list of analyst forecasts on Johnson Matthey stock, see the GB:JMAT Stock Forecast page.