Janus Henderson Group plc

NYSE:JHG Stock Report

Market Cap: US$7.0b

Janus Henderson Group Valuation

Is JHG undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of JHG when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: JHG ($43.44) is trading below our estimate of fair value ($53.23)

Significantly Below Fair Value: JHG is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for JHG?

Key metric: As JHG is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for JHG. This is calculated by dividing JHG's market cap by their current earnings.
What is JHG's PE Ratio?
PE Ratio17.2x
EarningsUS$398.20m
Market CapUS$6.97b

Price to Earnings Ratio vs Peers

How does JHG's PE Ratio compare to its peers?

The above table shows the PE ratio for JHG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average42.3x
AMG Affiliated Managers Group
10.3x3.0%US$5.7b
CNS Cohen & Steers
36.3x18.5%US$5.0b
STEP StepStone Group
109xn/aUS$7.5b
APAM Artisan Partners Asset Management
13.8x6.9%US$3.8b
JHG Janus Henderson Group
17.2x9.8%US$7.0b

Price-To-Earnings vs Peers: JHG is good value based on its Price-To-Earnings Ratio (17.2x) compared to the peer average (42.3x).

Price to Earnings Ratio vs Industry

How does JHG's PE Ratio compare vs other companies in the US Capital Markets Industry?

23 CompaniesPrice / EarningsEstimated GrowthMarket Cap
ADX Adams Diversified Equity Fund
3.7xn/aUS$2.31b
CET Central Securities
4.5xn/aUS$1.32b
GAM General American Investors Company
4.3xn/aUS$1.22b
MUDS Mudrick Capital Acquisition Corporation II
3.4xn/aUS$401.64m
JHG 17.2xIndustry Avg. 23.4xNo. of Companies71PE020406080100+
23 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: JHG is good value based on its Price-To-Earnings Ratio (17.2x) compared to the US Capital Markets industry average (23.8x).

Price to Earnings Ratio vs Fair Ratio

What is JHG's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

JHG PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio17.2x
Fair PE Ratio16.5x

Price-To-Earnings vs Fair Ratio: JHG is expensive based on its Price-To-Earnings Ratio (17.2x) compared to the estimated Fair Price-To-Earnings Ratio (16.5x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst JHG forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$43.44
US$42.69
-1.7%
14.7%US$51.00US$25.30n/a12
Dec ’25US$45.28
US$41.86
-7.6%
14.3%US$50.00US$25.30n/a12
Nov ’25US$41.65
US$40.53
-2.7%
15.2%US$50.00US$25.30n/a12
Oct ’25US$37.74
US$37.44
-0.8%
12.8%US$46.00US$25.30n/a12
Sep ’25US$37.61
US$36.75
-2.3%
14.7%US$46.00US$25.30n/a11
Aug ’25US$37.60
US$34.85
-7.3%
12.3%US$41.00US$25.30n/a11
Jul ’25US$33.55
US$32.85
-2.1%
10.7%US$39.00US$25.30n/a11
Jun ’25US$33.50
US$32.57
-2.8%
11.1%US$39.00US$25.30n/a11
May ’25US$31.16
US$31.48
+1.0%
8.4%US$35.00US$25.30n/a11
Apr ’25US$32.37
US$30.19
-6.7%
10.2%US$38.00US$25.30n/a12
Mar ’25US$31.55
US$29.78
-5.6%
10.2%US$38.00US$25.30n/a12
Feb ’25US$30.03
US$28.61
-4.7%
11.2%US$38.00US$25.00n/a12
Jan ’25US$30.15
US$26.68
-11.5%
7.9%US$31.00US$25.00n/a10
Dec ’24US$26.40
US$25.62
-3.0%
7.8%US$31.00US$22.00US$45.2811
Nov ’24US$24.16
US$25.43
+5.3%
8.8%US$31.00US$22.00US$41.6510
Oct ’24US$25.82
US$27.11
+5.0%
8.2%US$33.00US$25.00US$37.749
Sep ’24US$27.75
US$27.11
-2.3%
8.2%US$33.00US$25.00US$37.619
Aug ’24US$29.23
US$27.02
-7.6%
5.3%US$30.00US$25.00US$37.6010
Jul ’24US$27.25
US$26.54
-2.6%
5.1%US$30.00US$25.00US$33.5510
Jun ’24US$26.82
US$26.44
-1.4%
5.6%US$30.00US$24.00US$33.5010
May ’24US$26.05
US$25.35
-2.7%
8.2%US$30.00US$22.00US$31.1611
Apr ’24US$26.64
US$25.37
-4.8%
10.1%US$30.00US$20.50US$32.3711
Mar ’24US$27.49
US$25.55
-7.0%
9.6%US$30.00US$20.50US$31.5511
Feb ’24US$26.40
US$22.67
-14.1%
8.1%US$26.00US$20.00US$30.0311
Jan ’24US$23.52
US$21.17
-10.0%
10.6%US$24.00US$17.00US$30.1511
Dec ’23US$25.66
US$22.26
-13.2%
28.6%US$41.00US$17.00US$26.4011

Analyst Forecast: Target price is lower than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/17 05:01
End of Day Share Price 2024/12/17 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Janus Henderson Group plc is covered by 47 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Catherine HeathAltium Capital Limited
Sarah SpikesArden Partners Plc.
Haley TamAuerbach Grayson