# James Halstead plc (JHD.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Industrials / Building Products. Price 131p, market value 547 millionp.

## Valuation
- **P/E (trailing): 14.6×** (5-yr avg 2076.9×, 3-yr avg 1860.2×). James Halstead plc trades at 14.6× trailing earnings, well below its own five-year average of 2076.9×: cheap by its own standards. The Industrials median in the September 2026 study was 25.7×. Forward P/E is 13.7×, lower than trailing, so analysts expect earnings to grow.
- **Price / sales: 1.0×**. Each dollar of revenue is priced at 1.0×.
- **Price / book: 3.1×**. The shares trade at 3.1× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 3.9×**. Enterprise value is 3.9× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: 15.8%** (5-yr avg 0.0%). Free cash flow equals 15.8% of the market value, above its five-year average of 0.0%, so the shares are cheaper on cash than they have usually been. Above 5% is generally attractive.
- **Earnings yield: 6.8%**. The inverse of the P/E: 6.8% of the price is earned each year.

## Profitability
- **Gross margin: 43.3%**. James Halstead plc keeps 43.3% of revenue after the direct cost of what it sells.
- **Operating margin: 19.7%**. 19.7% of revenue is left after running the business, a healthy level in most sectors.
- **Net margin: 15.5%**. 15.5% of each dollar of sales reaches the bottom line.
- **Return on equity: 22.3%**. 22.3% on shareholders' equity is excellent if it is not driven by leverage; sustained above 20% usually signals a competitive advantage.
- **Return on invested capital: 64.9%**. Return on all capital, debt included, is 64.9%: comfortably above what that capital costs.
- **Return on assets: 33.4%**. Each dollar of assets produces 33.4% of profit.

## Growth
- **Revenue growth (1 yr): -4.7%** (3-yr -3.5%/yr, 5-yr 1.9%/yr). Revenue fell 4.7% over the last year, against 1.9% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): -2.6%** (3-yr 0.1%/yr, 5-yr 3.3%/yr). Earnings per share fell 2.6%, roughly in step with revenue.
- **Free-cash-flow growth (3 yr): 118.2%/yr**. Free cash flow has compounded at 118.2% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Debt to equity: 0.03**. Debt is 0.03 times equity: a conservative balance sheet.
- **Net debt / EBITDA: net cash**. James Halstead plc holds more cash than debt.
- **Interest coverage: 178.9×**. Operating profit covers interest 178.9× over, a safe margin.
- **Current ratio: 3.77** (quick 2.22). Current assets cover the next year's liabilities 3.77 times.
- **Altman Z-score: 9.23**. A Z-score of 9.23 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 5/9**. 5 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 6.69%** (0p per share, trailing). James Halstead plc yields 6.69%, high enough to check carefully: yields this high often precede a cut.
- **Payout ratio: 90%** (83% of free cash flow). 90% of earnings goes out as dividends, leaving a thin cushion.
- **Consecutive years of increases: 9**. 9 straight years of increases.
- **Dividend growth (5 yr): 4.3%/yr** (1-yr 3.5%). The dividend has grown 4.3% a year over five years.
- **Shareholder yield: 6.7%**. Dividends plus net buybacks return 6.7% of the market value a year.

## Price and momentum
- **Total return (1 yr): -4.7%** (YTD -1.6%, 3-mo 8.2%). The shares are down 4.7% over twelve months including dividends.
- **From 52-week high: -18.6%** (17.4% above the low). Trading 19% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 57**. An RSI of 57 is neutral.
- **Beta (1 yr): 0.48** (volatility 26%). Beta of 0.48 against the FTSE All-Share: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=JHD.L · Page: https://foliofundamentals.com/stocks/jhd.l

Not investment advice.