Does JAMES HARDIE INDUSTRIES PLC have an economic moat?

Based on its FY2026 SEC filings, the Moat Index scores JAMES HARDIE INDUSTRIES PLC (JHX) 40.2 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 64, returns on capital 70, balance-sheet safety 0, capital discipline 0.

Is JHX stock trading below its intrinsic value?

Against a deliberately conservative owner-earnings model (9% discount rate, 0% assumed growth, capped at 4%), estimated intrinsic value is $8.12 per share versus a recent price of $25.82 — 218% above value. This is an educational estimate computed from primary SEC filings, not investment advice.

How has JHX's Moat Score changed over time?

The record logs 3 readings since Jul 17, 2026; the latest reads 40.2 out of 100 (shallow moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

The Moat Index

JAMES HARDIE INDUSTRIES PLC

JHX · Materials · $15.0B mkt cap · FY2026 filings · Shallow moat ·

Doesn't clear the bar

Shallow moat

The four filters

Pricing power64

Median gross margin 38.8% over 3y, very stable.

Returns on capital70

Median ROIC 15.9%, above the 9% hurdle in 67% of years.

Balance-sheet safety0

Net debt/EBITDA 4.5x, interest coverage 2x.

Capital discipline0

Owner earnings -35.3%/yr, share count growing (dilution).

Margin of safety

Above valueOn sale

218% above value

Owner earnings (normalized): $424.0M
Est. intrinsic value / share: $8.12
Recent price: $25.82
Discount to value: 218% above value

Conservative model: 9% discount rate, 0% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

4 years of fundamentals

The business, in plain English

JAMES HARDIE INDUSTRIES PLC booked $4.8B of revenue in FY2026 in the Materials sector and kept 35.8% of it as gross profit — a solid-margin business by that measure. After every other cost, 2.2% of each revenue dollar reached the bottom line.

It earned 2.7% on invested capital in FY2026, with a median of 15.9% across 3 filed years. The Returns on Capital filter above scores it 70/100.

The balance sheet carried $4.5B of total debt in FY2026 against $213.6M of owner earnings — roughly 21.2 years of owner earnings to retire it all. Balance-Sheet Safety scores it 0/100.

Put together: Returns on Capital is the strongest of the four filters (70/100) and Balance-Sheet Safety the weakest (0/100), which is how JHX lands at 40/100 — a Shallow moat.

This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.

RevenueSales, as filed$4.8B FY2026

Gross marginRevenue kept after cost of goods35.8% FY2026

Return on invested capitalOperating profit on the capital employed2.7% FY2026

Owner earningsCash an owner could take out$213.6M FY2026

Gaps in a line mean that item isn’t in JHX’s filings for that year — the series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.

Moat Score history

Moat Score over timeLast scored reading of each day, on the 0–100 scale40.2 / 100

Score history begins Jul 17, 2026 — the record builds from here and can’t be backfilled.

Tier changesSame-methodology crossings of the Wide / Narrow / Shallow bars

None yet — JHX has read Shallow moat for every logged capture since Jul 17, 2026.

Scores are logged append-only and never overwritten — this record can’t be backfilled, which is exactly why it’s worth keeping.

Materials context

#103 of 214 scored Materials companies, ranked by Moat Score.

Nearest peers by Moat Score

#101FBIN Fortune Brands Innovations, Inc.40.5 out of 100, Shallow moatShallow moat
#102FLXS FLEXSTEEL INDUSTRIES, INC.40.4 out of 100, Shallow moatShallow moat
#104DLX DELUXE CORP39.8 out of 100, No moatNo moat
#105APD AIR PRODUCTS AND CHEMICALS, INC.39.4 out of 100, No moatNo moat

Compare JHX with its nearest peers →All Materials companies on the Index →

Common questions about JHX

Does JAMES HARDIE INDUSTRIES PLC have an economic moat?: Based on its FY2026 SEC filings, the Moat Index scores JAMES HARDIE INDUSTRIES PLC (JHX) 40.2 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 64, returns on capital 70, balance-sheet safety 0, capital discipline 0.
Is JHX stock trading below its intrinsic value?: Against a deliberately conservative owner-earnings model (9% discount rate, 0% assumed growth, capped at 4%), estimated intrinsic value is $8.12 per share versus a recent price of $25.82 — 218% above value. This is an educational estimate computed from primary SEC filings, not investment advice.
How has JHX's Moat Score changed over time?: The record logs 3 readings since Jul 17, 2026; the latest reads 40.2 out of 100 (shallow moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell JHX. See the disclaimer.