Janus Henderson Group
Financial ratios & Valuation

Forward Multiples (2025 – 2026)

20252026
Price/Earnings ratio
14.3114.14
Price/Sales ratio
3.113.01
Earnings per Share (EPS)
$2.97$3.01

Historical Multiples (2014 – 2023)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
6.7710.0416.679.377.7110.7444.7611.3513.8512.3316.337.71
Price/Sales ratio
2.692.142.473.521.752.092.532.541.722.302.871.75
Price/Book Value ratio
1.721.561.711.260.830.931.231.510.871.061.430.83
Price/Cash Flow ratio
14.246.0010.2213.846.029.929.037.868.0310.9510.936.02
Price/Free Cash Flow ratio
14.936.2410.8614.416.2910.809.287.958.3411.2211.426.29
Price/Earnings Growth ratio
0.07-0.48-0.390.06-0.23-0.60-0.730.03-0.260.31-0.31-0.60
Dividend Yield
5.30%6.50%6.35%4.16%6.80%5.92%4.50%3.63%6.82%5.34%4.52%5.92%
Profitability Indicator Ratios
Gross Profit Margin
43.82%43.49%43.17%68.84%73.42%72.51%73.08%74.94%72.25%71.77%75.22%73.42%
Operating Profit Margin
19.30%20.64%18.36%25.36%28.17%24.67%31.20%29.75%22.22%23.01%27.10%24.67%
Pretax Profit Margin
20.82%22.20%18.86%25.65%28.69%26.61%10.53%29.64%17.03%25.07%25.91%26.61%
Net Profit Margin
39.69%21.32%14.85%37.59%22.71%19.50%5.66%22.40%12.45%18.65%17.06%19.50%
Effective Tax Rate
6.41%3.99%21.26%-47.16%24.50%23.61%24.57%25.07%26.87%19.03%24.34%23.61%
Return on Assets
15.78%9.53%6.78%8.98%7.57%5.61%1.94%9.20%4.40%6.03%5.61%5.61%
Return On Equity
25.44%15.54%10.29%13.44%10.77%8.71%2.76%13.29%6.29%8.63%9.02%8.71%
Return on Capital Employed
9.70%13.80%11.61%7.03%10.50%7.89%12.02%13.84%8.70%8.24%10.36%7.89%
Liquidity Ratios
Current Ratio
1.811.472.342.232.773.353.01N/AN/AN/A3.082.77
Quick Ratio
2.161.471.731.752.302.002.952.602.523.893.082.30
Cash ratio
0.680.680.540.751.200.951.521.401.901.851.481.20
Days of Sales Outstanding
155.93112.78123.30138.0471.7877.6677.5357.5152.7767.4864.6877.66
Days of Inventory outstanding
-35.86N/A0.00-486.12-300.93-334.7726.07-259.96-225.68N/AN/A-300.93
Operating Cycle
120.06112.78123.30-348.07-229.14-257.10103.61-202.45-172.9167.4864.68-229.14
Days of Payables Outstanding
289.56248.8818.4814.443.8734.591.881.362.561.96166.183.87
Cash Conversion Cycle
-169.50-136.10104.82-362.52-233.01-291.69101.73-203.82-175.4765.51-101.50-233.01
Debt Ratios
Debt Ratio
0.090.08N/A0.050.040.040.040.040.040.040.090.04
Debt Equity Ratio
0.140.14N/A0.070.060.060.060.060.070.060.150.06
Long-term Debt to Capitalization
0.12N/AN/A0.060.060.060.060.060.060.060.070.06
Total Debt to Capitalization
0.120.12N/A0.070.060.060.060.060.060.060.130.06
Interest Coverage Ratio
-11.7317.21-11.5737.1641.3835.8252.05N/AN/AN/A46.2641.38
Cash Flow to Debt Ratio
0.821.79N/A1.172.101.462.062.881.531.440.871.46
Company Equity Multiplier
1.611.631.511.491.421.551.411.441.421.431.561.42
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.180.350.240.250.290.210.280.320.210.210.250.21
Free Cash Flow / Operating Cash Flow Ratio
0.950.960.940.960.950.910.970.980.960.970.980.95
Cash Flow Coverage Ratio
0.821.79N/A1.172.101.462.062.881.531.440.871.46
Short Term Coverage Ratio
N/A1.79N/A7.76N/AN/AN/AN/AN/AN/A2.01N/A
Dividend Payout Ratio
35.93%65.38%106.02%39.05%52.52%63.70%201.76%41.29%94.49%65.99%62.00%52.52%