Johnson Matthey PLC (JMPLY)
OTHER OTC:JMPLY
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Johnson Matthey
(OTC:JMPLY)
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Rating:64Neutral
Price Target:
$66.00
▲(30.33% Upside)
Action:DowngradedDate:11/21/25
Johnson Matthey's overall stock score is driven by strong earnings call insights and reasonable valuation, despite technical weaknesses and financial performance challenges. The company's strategic initiatives and cash flow improvements are promising, but technical indicators suggest caution.
Positive Factors
Sale of Catalyst Technologies
A confirmed sale that will return GBP 1.4bn is a structural capital event: it crystallizes value, reduces exposure to an underperforming segment, and materially boosts balance sheet flexibility. This improves capacity for buybacks, debt reduction, or reinvestment into battery materials and PGM refining.
Negative Factors
Declining revenue trend
A multiyear declining revenue trajectory threatens scale advantages and limits margin expansion. Even with pockets of strength (PGM, Clean Air), persistent top-line weakness reduces operating leverage, constrains reinvestment capacity, and raises execution risk for growth initiatives like battery materials.
Read all positive and negative factors
Positive Factors
Negative Factors
Sale of Catalyst Technologies
A confirmed sale that will return GBP 1.4bn is a structural capital event: it crystallizes value, reduces exposure to an underperforming segment, and materially boosts balance sheet flexibility. This improves capacity for buybacks, debt reduction, or reinvestment into battery materials and PGM refining.
Read all positive factors
Johnson Matthey (JMPLY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.53B
Dividend Yield3.48%
Average Volume (3M)795.00
Price to Earnings (P/E)―
Beta (1Y)0.55
Revenue Growth-1.77%
EPS Growth-126.50%
CountryUS
Employees11,685
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)1.34
Shares Outstanding84,027,880
10 Day Avg. Volume473
30 Day Avg. Volume795
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)1.01
Price to Sales (P/S)0.20
P/FCF Ratio289.61
Enterprise Value/Market Cap0.95
Enterprise Value/Revenue0.38
Enterprise Value/Gross Profit5.40
Enterprise Value/Ebitda8.07
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)4.13
Revenue Forecast (FY)$3.40B
Johnson Matthey Business Overview & Revenue Model
Company Description
Johnson Matthey (JMPLY) is a global leader in sustainable technologies, specializing in catalysis, precious metals, and battery materials. The company operates across several sectors, including automotive, pharmaceuticals, chemical processing, and...
How the Company Makes Money
Johnson Matthey generates revenue through several key streams. The largest portion comes from its Catalysis segment, where it produces catalysts used in automotive emissions control and industrial processes. The company also earns significant reve...
Johnson Matthey Earnings Call Summary
Earnings Call Date:Nov 20, 2025
(Q2-2026)
| % Change Since: |
Next Earnings Date:May 21, 2026
Earnings Call Sentiment Positive
The earnings call reflected a strong financial performance with significant improvements in operating profit and cash flow. Key strategic moves, such as the sale of Catalyst Technologies, are on track. However, there are challenges, including delays in the new refinery and weaker performance in Catalyst Technologies, though these are being managed effectively.Positive Updates
Strong Operating Performance
The underlying operating performance increased by 38%, with an 11% increase in Clean Air and a 33% increase in Platinum Group Metals.
Negative Updates
Delays in New Refinery Project
A small delay of a few months has occurred in the new PGM refinery project, though it is not expected to impact guidance or customer delivery.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Operating Performance
The underlying operating performance increased by 38%, with an 11% increase in Clean Air and a 33% increase in Platinum Group Metals.
Read all positive updates
Company Guidance
In the recent investor call, Johnson Matthey provided comprehensive guidance for the upcoming periods. The company reported a robust 38% increase in underlying operating performance, with significant contributions from a 33% rise in Platinum Group Metals and an 11% growth in Clean Air. They also achieved a notable turnaround in cash flow, moving from a significant outflow last year to a small inflow this period, and they anticipate more improvements in the second half and subsequent years. The sale of Catalyst Technologies to Honeywell is progressing as planned, expected to close in the first half of 2026, with GBP 1.4 billion to be returned to shareholders upon completion. Clean Air's margin improved by 200 basis points, aligning with their target of a 14% to 15% margin by the end of the fiscal year, and they aim for a 16% to 18% margin by 2027-2028. The new PGM refinery at Royston, a GBP 350 million investment, is on track for commissioning by March 2026 despite a small delay. Furthermore, the company is on course to achieve a run-rate breakeven for Hydrogen Technologies by March 2026, and they reaffirmed their goal of generating GBP 250 million in consistent free cash flow moving forward.Johnson Matthey Financial Statement Overview
Summary
Income Statement
60
Neutral
Balance Sheet
65
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 11.38B | 11.67B | 12.84B | 14.93B | 16.02B | 15.44B |
| Gross Profit | 801.26M | 899.00M | 898.00M | 989.00M | 1.05B | 944.00M |
| EBITDA | 536.43M | 802.00M | 488.00M | 621.00M | 467.00M | 564.00M |
| Net Income | -129.00M | 373.00M | 108.00M | 276.00M | -101.00M | 205.00M |
Balance Sheet | ||||||
| Total Assets | 5.83B | 6.19B | 6.34B | 7.03B | 6.67B | 7.74B |
| Cash, Cash Equivalents and Short-Term Investments | 547.00M | 898.00M | 542.00M | 697.00M | 418.00M | 625.00M |
| Total Debt | 1.49B | 1.70B | 1.49B | 1.67B | 1.25B | 1.38B |
| Total Liabilities | 3.73B | 3.90B | 3.96B | 4.49B | 4.22B | 5.06B |
| Stockholders Equity | 2.10B | 2.29B | 2.38B | 2.54B | 2.44B | 2.69B |
Cash Flow | ||||||
| Free Cash Flow | 244.98M | 8.00M | 224.00M | -91.00M | 73.00M | 295.00M |
| Operating Cash Flow | 520.72M | 381.00M | 592.00M | 225.00M | 526.00M | 676.00M |
| Investing Cash Flow | -306.00M | 297.00M | -255.00M | -129.00M | -292.00M | -357.00M |
| Financing Cash Flow | -264.00M | -333.00M | -439.00M | 191.00M | -439.00M | -43.00M |
Johnson Matthey Technical Analysis
Neutral
50.64
Price Trends
55.79
Negative
56.51
Negative
53.99
Negative
Market Momentum
-1.06
Negative
48.71
Neutral
98.53
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JMPLY, the sentiment is Neutral. The current price of 50.64 is above the 20-day moving average (MA) of 50.33, below the 50-day MA of 55.79, and below the 200-day MA of 53.99, indicating a neutral trend. The MACD of -1.06 indicates Negative momentum. The RSI at 48.71 is Neutral, neither overbought nor oversold. The STOCH value of 98.53 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JMPLY.
Johnson Matthey Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | $5.61B | 32.29 | 12.31% | 0.61% | 7.55% | 22.43% | |
70 Outperform | $3.90B | 11.96 | 20.42% | 2.72% | -7.04% | -11.28% | |
68 Neutral | $8.30B | 15.45 | 8.09% | 5.33% | -3.33% | -19.59% | |
65 Neutral | $3.94B | 29.50 | 11.63% | 1.70% | 4.25% | 56.51% | |
64 Neutral | $4.53B | -47.18 | -5.87% | 3.48% | -1.77% | -126.50% | |
62 Neutral | $7.85B | 76.21 | 1.59% | ― | -6.73% | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% |
* Basic Materials Sector Average
JMPLY
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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.