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Janus Henderson Group (JHG)
NYSE:JHG
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Janus Henderson Group (JHG) AI Stock Analysis

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JHG

Janus Henderson Group

(NYSE:JHG)

Rating:79Outperform
Price Target:
$49.00
▲(8.65% Upside)
Janus Henderson Group's strong financial performance and positive earnings call sentiment are the most significant factors driving the stock's score. The company's robust financial health, characterized by consistent revenue growth and high profitability margins, is complemented by strategic partnerships and record AUM growth. Technical indicators support a neutral to slightly bullish outlook, while valuation metrics suggest the stock is reasonably priced with an attractive dividend yield. Challenges in specific channels and asset classes are noted but do not significantly detract from the overall positive outlook.
Positive Factors
Company Strategy
The Guardian arrangement is seen as another good example of sound strategic thinking at JHG and meaningful but measured pace of transformation.
Financial Performance
Adjusted earnings per share for Janus Henderson Group have increased due to better management fees, indicating improved financial performance.
Partnerships
JHG announced a partnership with Guardian Life, including management of $45B and issuance of 1.6M equity warrants.
Negative Factors
Operating Expenses
The positive impact of increased management fees is partially offset by elevated operating expenses, which could affect profitability.

Janus Henderson Group (JHG) vs. SPDR S&P 500 ETF (SPY)

Janus Henderson Group Business Overview & Revenue Model

Company DescriptionJanus Henderson Group (JHG) is a global asset management firm that provides a wide range of investment products and services to individual and institutional clients. With a focus on active management, the company operates across various sectors including equities, fixed income, and alternative investments. JHG offers mutual funds, exchange-traded funds (ETFs), and customized investment solutions, leveraging its deep expertise and market insights to deliver performance-oriented investment strategies.
How the Company Makes MoneyJanus Henderson Group generates revenue primarily through the management of assets for clients, charging management fees based on the assets under management (AUM). These fees are typically a percentage of AUM and can vary depending on the type of investment product and service provided. Additionally, the company earns performance fees when its investment funds exceed certain benchmarks, providing an incentive to maximize returns for investors. Key revenue streams include management fees from mutual funds, ETFs, and institutional accounts. Partnerships with financial advisors and institutions also enhance its distribution capabilities, contributing to its overall earnings. Market conditions, investment performance, and client retention are significant factors influencing the company's revenue.

Janus Henderson Group Earnings Call Summary

Earnings Call Date:Jul 31, 2025
(Q2-2025)
|
% Change Since: |
Next Earnings Date:Oct 30, 2025
Earnings Call Sentiment Positive
The earnings call reflected a generally positive sentiment, driven by record AUM growth, continued positive net flows, and successful strategic partnerships, particularly with Guardian. However, challenges remain in retail and U.K. intermediary channels, as well as in equity and multi-asset capabilities.
Q2-2025 Updates
Positive Updates
Strong AUM Growth
Assets under Management increased by 23% to a record high of $457.3 billion, aided by market gains, favorable currency adjustments, and the addition of Guardian's AUM.
Positive Net Flows
The second quarter marked the fifth consecutive quarter of positive net flows, with a significant contribution from Guardian's general account.
Guardian Partnership Success
Completion of the strategic partnership with Guardian, managing $46.5 billion in assets, exceeding the initially communicated $45 billion.
Launch of New ETF - JABS
Guardian provided $100 million of seed capital for the asset-backed securities ETF, JABS, which complements the existing CLO ETF, JAAA.
Improved Financial Performance
Adjusted diluted EPS increased by 6% compared to the same period a year ago, and strong investment performance boosted performance fees.
Investment Performance Improvement
72% of AUM in the top 2 Morningstar quartiles over all time periods, with notable improvements in U.S. and global equity products.
Negative Updates
Retail Net Outflows
Retail net outflows were impacted by market volatility, particularly during the April drawdown.
U.K. Intermediary Challenges
Net outflows in the U.K., primarily driven by investment trusts and the global strategic total bond strategy.
Equity Net Outflows
Equity flows were negative $2.6 billion, although an improvement from the prior quarter's $4.2 billion net outflows.
Multi-Asset Capability Net Outflows
Net outflows for multi-asset capability were $1.1 billion, primarily due to outflows in the balanced strategy.
Company Guidance
In the Janus Henderson Group's second-quarter 2025 earnings call, CEO Ali Dibadj and CFO Roger Thompson discussed the firm's strategic progress and financial performance. Notable metrics included a 23% increase in assets under management (AUM) to $457.3 billion, marking the highest quarterly AUM in the company's history. This growth was driven by the addition of $46.5 billion from a strategic partnership with Guardian, which expanded Janus Henderson's fixed income AUM to $142 billion, over 30% of company-wide AUM. The firm recorded its fifth consecutive quarter of positive net flows, with net inflows totaling $46.7 billion, including significant contributions from Guardian's general account. Investment performance was strong, with at least 72% of AUM in the top two Morningstar quartiles across all time periods. Adjusted diluted EPS increased by 6% year-over-year to $0.90. The company also highlighted the launch of its asset-backed securities ETF, JABS, with $100 million seeded by Guardian, as part of its client-led innovation strategy.

Janus Henderson Group Financial Statement Overview

Summary
Janus Henderson Group demonstrates robust financial health characterized by consistent revenue growth, high profitability margins, low leverage, and strong cash flows. While there are minor declines in EBIT and Free Cash Flow growth, the overall financial position remains strong, indicating effective management and operational efficiency in the asset management industry.
Income Statement
78
Positive
The income statement shows solid revenue growth of 3.37% in TTM (Trailing-Twelve-Months) compared to the previous year, along with a strong Gross Profit Margin of 70.24%. The Net Profit Margin is healthy at 16.39% in TTM, indicating profitability. EBIT and EBITDA margins are robust at 26.58% and 21.81% respectively, showing efficient cost management, though slightly lower compared to the previous year.
Balance Sheet
82
Very Positive
The balance sheet is strong with a low Debt-to-Equity Ratio of 0.08 in TTM, indicating low leverage and financial stability. The Equity Ratio is substantial at 63.98%, reflecting high asset financing through equity. Return on Equity stands at 8.79%, showcasing reasonable shareholder returns despite a slight decline from previous years.
Cash Flow
80
Positive
Cash flow analysis reveals a slight decline in Free Cash Flow compared to the previous year but remains strong at $469.4 million in TTM. The Operating Cash Flow to Net Income Ratio is 1.14, indicating healthy cash generation relative to net income. Free Cash Flow to Net Income Ratio is positive at 1.12, showing effective cash management capabilities.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue2.59B2.47B2.10B2.20B2.77B2.30B
Gross Profit1.78B1.70B1.46B1.54B2.02B1.63B
EBITDA698.40M654.40M562.60M419.70M871.20M265.60M
Net Income419.70M408.90M392.00M372.40M620.00M130.30M
Balance Sheet
Total Assets7.45B6.96B6.50B6.24B6.70B6.69B
Cash, Cash Equivalents and Short-Term Investments2.35B2.07B1.88B1.77B1.82B1.59B
Total Debt395.20M486.50M382.50M399.10M444.10M458.50M
Total Liabilities1.81B1.88B1.64B1.64B1.90B1.87B
Stockholders Equity4.77B4.59B4.54B4.36B4.62B4.72B
Cash Flow
Free Cash Flow603.50M684.50M430.80M455.70M885.00M627.90M
Operating Cash Flow613.80M694.60M441.60M473.30M895.40M645.70M
Investing Cash Flow-688.80M-285.40M-328.90M58.50M-283.30M129.40M
Financing Cash Flow-82.40M-324.40M-151.90M-419.10M-588.10M-491.00M

Janus Henderson Group Technical Analysis

Technical Analysis Sentiment
Positive
Last Price45.10
Price Trends
50DMA
42.01
Positive
100DMA
38.49
Positive
200DMA
39.42
Positive
Market Momentum
MACD
0.76
Negative
RSI
66.64
Neutral
STOCH
80.60
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JHG, the sentiment is Positive. The current price of 45.1 is above the 20-day moving average (MA) of 43.61, above the 50-day MA of 42.01, and above the 200-day MA of 39.42, indicating a bullish trend. The MACD of 0.76 indicates Negative momentum. The RSI at 66.64 is Neutral, neither overbought nor oversold. The STOCH value of 80.60 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JHG.

Janus Henderson Group Risk Analysis

Janus Henderson Group disclosed 40 risk factors in its most recent earnings report. Janus Henderson Group reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks

Janus Henderson Group Peers Comparison

Overall Rating
UnderperformOutperform
Sector (68)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
81
Outperform
$6.53B17.3113.47%0.02%-5.87%-21.51%
79
Outperform
$6.91B16.708.87%3.50%17.59%-8.81%
78
Outperform
$4.10B11.7432.69%2.43%5.92%54.93%
76
Outperform
$4.35B11.7218.55%8.55%16.78%
76
Outperform
$23.30B18.8023.07%2.21%101.10%
74
Outperform
$9.66B23.255.74%3.78%6.79%
68
Neutral
$18.05B11.7310.24%3.73%9.66%1.70%
* Financial Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
JHG
Janus Henderson Group
45.10
10.81
31.53%
AMG
Affiliated Managers
233.05
69.19
42.23%
AB
AllianceBernstein
39.44
9.14
30.17%
FHI
Federated Hermes
53.55
20.90
64.01%
IVZ
Invesco
21.96
6.93
46.11%
CG
Carlyle Group
64.93
28.68
79.12%

Janus Henderson Group Corporate Events

Executive/Board ChangesBusiness Operations and Strategy
Janus Henderson Group Announces CFO Retirement
Neutral
Aug 18, 2025

On August 15, 2025, Janus Henderson Group announced the upcoming retirement of its Chief Financial Officer, Roger Thompson, effective March 31, 2026. In his place, Sukh Grewal, currently the Head of Strategy & Corporate Development, will assume the role of CFO starting April 1, 2026. Grewal, who has been with Janus Henderson since 2022, has played a significant role in shaping the company’s strategic direction and expanding its investment capabilities. The transition is expected to align the company’s financial and corporate strategy teams more closely, potentially enhancing value for shareholders, clients, and employees.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Aug 19, 2025