Johnson Matthey PLC (JMPLY)
OTHER OTC:JMPLY
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Johnson Matthey
(OTC:JMPLY)
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Rating:54Neutral
Price Target:
$58.00
▲(14.53% Upside)
Action:Reiterated
Date:05/30/26
The score is held back primarily by weak financial performance—profitability swung to a net loss and margins compressed—despite stable operating cash flow and improved free cash flow. Technicals are mildly supportive with neutral momentum and price holding around key moving averages. Valuation is mixed due to a negative P/E, partly offset by a ~3.6% dividend yield. Earnings-call guidance was a relative positive, highlighted by improved operating performance, better cash flow outlook, and an on-track asset sale with planned shareholder returns.
Positive Factors
PGM and catalyst expertise
Johnson Matthey's deep technical know-how in platinum group metals and catalysts drives differentiated products and long-term OEM relationships. The 33% uplift in PGM operating profit evidences structural strength: proprietary materials science, recycling capability and regulatory-driven demand sustain durable competitive advantage.
Negative Factors
Earnings volatility and margin compression
A swing to a net loss and materially compressed margins indicate weak pricing power or cost pressure in core markets. Persistent margin volatility undermines sustainable profitability, constrains internal reinvestment and makes long-term earnings guidance and return targets less reliable for investors.
Read all positive and negative factors
Positive Factors
Negative Factors
PGM and catalyst expertise
Johnson Matthey's deep technical know-how in platinum group metals and catalysts drives differentiated products and long-term OEM relationships. The 33% uplift in PGM operating profit evidences structural strength: proprietary materials science, recycling capability and regulatory-driven demand sustain durable competitive advantage.
Read all positive factors
Johnson Matthey (JMPLY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.78B
Dividend Yield3.48%
Average Volume (3M)795.00
Price to Earnings (P/E)―
Beta (1Y)0.60
Revenue Growth13.14%
EPS Growth-129.77%
CountryUS
Employees11,685
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)-1.16
Shares Outstanding84,027,880
10 Day Avg. Volume473
30 Day Avg. Volume795
Financial Highlights & Ratios
PEG Ratio0.25
Price to Book (P/B)1.54
Price to Sales (P/S)0.24
P/FCF Ratio19.18
Enterprise Value/Market Cap0.92
Enterprise Value/Revenue0.35
Enterprise Value/Gross Profit6.94
Enterprise Value/Ebitda9.19
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)4.14
Revenue Forecast (FY)$3.51B
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 makes money primarily by selling high-value catalysts, catalyst-coated components, and related chemical process technologies and services to industrial customers. A major revenue stream is automotive emissions control catalysts sup...
Johnson Matthey Earnings Call Summary
Earnings Call Date:Nov 20, 2025
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 19, 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
38
Negative
Balance Sheet
56
Neutral
Cash Flow
45
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 12.78B | 11.67B | 12.84B | 14.93B | 16.02B |
| Gross Profit | 639.23M | 899.00M | 898.00M | 989.00M | 1.05B |
| EBITDA | 486.79M | 802.00M | 488.00M | 621.00M | 467.00M |
| Net Income | -97.56M | 373.00M | 108.00M | 276.00M | -101.00M |
Balance Sheet | |||||
| Total Assets | 5.97B | 6.19B | 6.34B | 7.03B | 6.67B |
| Cash, Cash Equivalents and Short-Term Investments | 590.03M | 898.00M | 542.00M | 697.00M | 418.00M |
| Total Debt | 1.41B | 1.70B | 1.49B | 1.67B | 1.25B |
| Total Liabilities | 3.96B | 3.90B | 3.96B | 4.49B | 4.22B |
| Stockholders Equity | 2.02B | 2.29B | 2.38B | 2.54B | 2.44B |
Cash Flow | |||||
| Free Cash Flow | 161.59M | 8.00M | 224.00M | -91.00M | 73.00M |
| Operating Cash Flow | 382.11M | 381.00M | 592.00M | 225.00M | 526.00M |
| Investing Cash Flow | -285.57M | 297.00M | -255.00M | -129.00M | -292.00M |
| Financing Cash Flow | -451.22M | -333.00M | -439.00M | 191.00M | -439.00M |
Johnson Matthey Technical Analysis
Neutral
50.64
Price Trends
54.77
Positive
57.09
Positive
55.52
Positive
Market Momentum
0.84
Positive
50.57
Neutral
50.81
Neutral
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 below the 20-day moving average (MA) of 57.63, below the 50-day MA of 54.77, and below the 200-day MA of 55.52, indicating a neutral trend. The MACD of 0.84 indicates Positive momentum. The RSI at 50.57 is Neutral, neither overbought nor oversold. The STOCH value of 50.81 is Neutral, 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 |
|---|---|---|---|---|---|---|---|
79 Outperform | $5.04B | 32.01 | 12.38% | 0.61% | 9.62% | 16.72% | |
70 Outperform | $4.52B | 15.97 | 18.29% | 2.72% | -8.52% | -31.91% | |
67 Neutral | $4.85B | 33.39 | 12.14% | 1.70% | 5.80% | 12.24% | |
65 Neutral | $8.68B | 21.68 | 6.77% | 5.33% | -7.41% | -56.10% | |
62 Neutral | $7.91B | 54.30 | 1.59% | ― | -1.88% | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
54 Neutral | $4.78B | -37.11 | -4.66% | 3.48% | 13.14% | -129.77% |
* Basic Materials Sector Average
JMPLY
Johnson Matthey
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26.07%
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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.