Janus Henderson Group (JHG)
NYSE:JHG
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Janus Henderson Group
(NYSE:JHG)
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Rating:77Outperform
Price Target:
$59.00
â–²(14.43% Upside)
Action:Reiterated
Date:06/19/26
The score is driven primarily by strong profitability and a low-leverage balance sheet, tempered by uneven/volatile operating and free cash flow. Valuation is supportive with a low P/E and solid dividend yield, while technical signals are largely neutral. Corporate events add meaningful support due to the advanced, approvals-cleared take-private transaction at $52 per share.
Positive Factors
Conservative balance sheet and rising ROE
Low leverage and a sizable equity base provide durable financial flexibility through market cycles, enabling continued capital deployment, dividend support, or opportunistic M&A. Strengthening ROE into the mid-teens signals sustained earnings power and better capital efficiency versus prior years.
Negative Factors
Volatile operating and free cash flow
Inconsistent cash conversion reduces confidence in the firm’s ability to fund dividends, buybacks or reinvest organically without relying on balance sheet actions. Volatile OCF and FCF complicate multi-year planning and heighten reliance on sponsor support or external financing for strategic initiatives.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet and rising ROE
Low leverage and a sizable equity base provide durable financial flexibility through market cycles, enabling continued capital deployment, dividend support, or opportunistic M&A. Strengthening ROE into the mid-teens signals sustained earnings power and better capital efficiency versus prior years.
Read all positive factors
Janus Henderson Group (JHG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$7.99B
Dividend Yield3.34%
Average Volume (3M)2.27M
Price to Earnings (P/E)10.1
Beta (1Y)1.04
Revenue Growth27.93%
EPS Growth102.14%
CountryUS
Employees2,308
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)5.08
Shares Outstanding154,075,600
10 Day Avg. Volume1,586,094
30 Day Avg. Volume2,265,747
Financial Highlights & Ratios
PEG Ratio0.09
Price to Book (P/B)1.37
Price to Sales (P/S)2.33
P/FCF Ratio0.00
Enterprise Value/Market Cap0.87
Enterprise Value/Revenue2.19
Enterprise Value/Gross Profit3.05
Enterprise Value/Ebitda8.04
Forecast
1Y Price Target
$52.00Price Target Upside0.85% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)4.23
Revenue Forecast (FY)$2.42B
Janus Henderson Group Business Overview & Revenue Model
Company Description
Janus Henderson Group plc operates as a holding company primarily focused on asset management. Through its various subsidiary entities, the firm extends its financial services to a broad spectrum of clients, including institutional investors, indi...
How the Company Makes Money
JHG primarily makes money by charging fees for managing client assets. Its core revenue stream is investment management fees, which are typically calculated as a percentage of assets under management (AUM) and vary by product type (e.g., equity, f...
Janus Henderson Group Earnings Call Summary
Earnings Call Date:Oct 30, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Positive
The call presented strong performance metrics with record-high assets under management and consecutive quarters of positive net flows, alongside strategic partnerships and product launches. However, challenges such as negative equity flows and anticipated cost increases due to the Aladdin transition were noted.Positive Updates
Record Assets Under Management
Assets under management reached $483.8 billion, marking a 6% increase over the prior quarter and a 27% increase year-over-year, achieving the highest quarterly figure ever.
Negative Updates
Challenges in Equity Flows
Equity flows were negative $3.3 billion, impacted by the merger of the Henderson European Trust resulting in $900 million of net outflows.
Read all updates
Q3-2025 Updates
Positive
Negative
Record Assets Under Management
Assets under management reached $483.8 billion, marking a 6% increase over the prior quarter and a 27% increase year-over-year, achieving the highest quarterly figure ever.
Read all positive updates
Company Guidance
During the Janus Henderson Group's Third Quarter 2025 earnings call, CEO Ali Dibadj highlighted the company's robust performance metrics and strategic initiatives. The firm reported a sixth consecutive quarter of positive net flows, marking a 7% organic growth rate, with assets under management (AUM) rising to $483.8 billion, a 6% increase from the previous quarter and 27% year-over-year. The company's adjusted diluted EPS reached $1.09, up 20% from the prior year, supported by strong investment performance, with over 60% of assets outperforming benchmarks over 3-, 5-, and 10-year periods. Janus Henderson also emphasized its strategic focus on diversifying offerings, with 21 strategies each achieving at least $100 million in net inflows, alongside partnerships such as the one with CNO Financial Group. The firm maintained a disciplined approach to capital allocation, returning nearly $130 million to shareholders through dividends and share buybacks, while also investing in future growth, including a transition to Aladdin's investment management platform expected to enhance operational efficiencies by 2028.Janus Henderson Group Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
86
Very Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.18B | 3.10B | 2.47B | 2.10B | 2.20B | 2.77B |
| Gross Profit | 2.28B | 2.23B | 1.70B | 1.46B | 1.54B | 2.02B |
| EBITDA | 866.00M | 564.70M | 654.40M | 562.60M | 419.70M | 871.20M |
| Net Income | 770.20M | 798.30M | 408.90M | 392.00M | 372.40M | 620.00M |
Balance Sheet | ||||||
| Total Assets | 7.80B | 8.29B | 6.96B | 6.50B | 6.24B | 6.70B |
| Cash, Cash Equivalents and Short-Term Investments | 2.60B | 1.62B | 2.07B | 1.88B | 1.77B | 1.82B |
| Total Debt | 395.60M | 395.50M | 486.50M | 382.50M | 399.10M | 444.10M |
| Total Liabilities | 2.08B | 2.17B | 1.88B | 1.64B | 1.64B | 1.90B |
| Stockholders Equity | 5.18B | 5.28B | 4.59B | 4.54B | 4.36B | 4.62B |
Cash Flow | ||||||
| Free Cash Flow | 621.20M | 0.00 | 684.50M | 430.80M | 455.70M | 885.00M |
| Operating Cash Flow | 951.50M | 719.50M | 694.60M | 441.60M | 473.30M | 895.40M |
| Investing Cash Flow | -393.40M | -461.00M | -285.40M | -328.90M | 58.50M | -283.30M |
| Financing Cash Flow | -269.80M | -239.10M | -324.40M | -151.90M | -419.10M | -588.10M |
Janus Henderson Group Technical Analysis
Positive
51.56
Price Trends
51.69
Positive
50.96
Positive
47.84
Positive
Market Momentum
0.05
Positive
58.83
Neutral
51.33
Neutral
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 51.56 is below the 20-day moving average (MA) of 51.79, below the 50-day MA of 51.69, and above the 200-day MA of 47.84, indicating a bullish trend. The MACD of 0.05 indicates Positive momentum. The RSI at 58.83 is Neutral, neither overbought nor oversold. The STOCH value of 51.33 is Neutral, 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
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $7.99B | 10.08 | 15.40% | 3.34% | 27.93% | 102.14% | |
75 Outperform | $9.32B | 12.53 | 23.38% | 0.01% | 4.59% | 88.44% | |
73 Outperform | $4.74B | 10.84 | 14.32% | 7.17% | 16.23% | -19.30% | |
72 Outperform | $4.57B | 13.78 | 29.51% | 1.52% | 6.46% | 9.92% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
62 Neutral | $4.93B | 11.72 | 5.33% | 5.30% | 134.47% | -36.39% | |
54 Neutral | $5.39B | -6.77 | 245.82% | 2.17% | 69.89% | -184.51% |
* Financial Sector Average
JHG
Janus Henderson Group
51.88
15.84
43.95%
AMG
Affiliated Managers
352.90
168.45
91.32%
MAIN
Main Street Capital
50.97
-3.33
-6.12%
HLNE
Hamilton Lane
82.22
-51.71
-38.61%
STEP
StepStone Group
45.20
-6.08
-11.85%
OTF
Blue Owl Technology Finance Corp.
10.66
-3.43
-24.33%
Janus Henderson Group Corporate Events
Delistings and Listing ChangesM&A Transactions
Janus Henderson Secures Final Approvals for Take-Private Deal
Positive
Jun 18, 2026
Janus Henderson has amended its merger arrangements with affiliates of Trian Fund Management and General Catalyst to fix June 30, 2026 as the anticipated closing date for its previously announced take-private transaction, subject to remaining cond...
Executive/Board ChangesStock BuybackShareholder Meetings
Janus Henderson Shareholders Back Governance and Compensation Proposals
Positive
Jun 2, 2026
On May 29, 2026, Janus Henderson Group plc shareholders held their 2026 Annual General Meeting and elected all nominated directors with strong majorities, reaffirming existing board leadership. Investors also approved an increase in the aggregate ...
Business Operations and StrategyDelistings and Listing ChangesM&A TransactionsShareholder Meetings
Janus Henderson Shareholders Approve Privatization Merger Agreement
Positive
Apr 17, 2026
At a special meeting held on April 16, 2026, shareholders of Janus Henderson Group plc approved the Agreement and Plan of Merger with Jupiter Company Limited and its subsidiary, which will result in the company becoming a private entity and changi...
M&A Transactions
Janus Henderson Details All-Cash Merger with Jupiter
Positive
Mar 25, 2026
On March 25, 2026, Janus Henderson Group issued an investor presentation tied to its planned merger under a December 21, 2025 agreement, as amended March 24, 2026, with Jupiter Company Limited and its subsidiary, which will see Janus Henderson bec...
Business Operations and StrategyDividendsM&A Transactions
Janus Henderson Raises Merger Offer in Amended Agreement
Positive
Mar 24, 2026
On March 24, 2026, Janus Henderson Group amended its merger agreement with Jupiter Company Limited, backed by Trian Fund Management and General Catalyst, raising the all-cash purchase price from $49.00 to $52.00 per share, a 25% premium to the fir...
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.