JHX vs USLM: James Hardie Industries PLC ADR and United States Lime & Minerals compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- James Hardie Industries PLC ADR is the larger company, worth $13.6B, about 4.5 times United States Lime & Minerals.
- James Hardie Industries PLC ADR grew revenue faster over the last year (+24.7% vs +8.3%).
- United States Lime & Minerals keeps more of each dollar of revenue as operating profit (42.1% vs 9.3%).
- On earnings, United States Lime & Minerals is the cheaper stock (23.2x vs 132.2x).
- James Hardie Industries PLC ADR's price assumes faster free cash flow growth: about 21% a year, against 10% for United States Lime & Minerals (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | JHX | USLM |
|---|---|---|
| Market cap | $13.6B | $3.0B |
| Share price | $25.12 | $108.58 |
| Revenue (last fiscal year) | $4.8B | $373M |
| Free cash flow (last fiscal year) | $206M | $102M |
| Revenue growth, last year | +24.7% | +8.3% |
| Revenue growth per year, last 5 fiscal years | +7.5% | +18.5% |
| Operating margin | 9.3% | 42.1% |
| Net margin | 2.1% | 35.7% |
| Return on equity | 1.6% | 19.3% |
| P/E (trailing) | 132.2x | 23.2x |
| Price / free cash flow | 35.6x | 29.5x |
| EV / EBITDA | 19.4x | 13.3x |
| FCF growth the price implies | 20.7% | 10.1% |
| Dividend yield | — | 0.23% |
| Debt / equity | 1.06x | 0.07x |
| Fundamental grade | D | B |
| Superinvestors holding it | 0 | 0 |
| Insider purchases, last 12 months | 0 | 1 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
James Hardie Industries PLC ADR
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $3.6B | $499M | 18.9% |
| 2023 | $3.8B | $16M | 19.6% |
| 2024 | $3.9B | $465M | 19.5% |
| 2025 | $3.9B | $381M | 16.9% |
| 2026 | $4.8B | $206M | 9.3% |
United States Lime & Minerals
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $189M | $26M | 24.5% |
| 2022 | $236M | $38M | 23.2% |
| 2023 | $281M | $58M | 30.4% |
| 2024 | $318M | $99M | 39.3% |
| 2025 | $373M | $102M | 42.4% |
Where the revenue comes from
James Hardie Industries PLC ADR · by segments, 2026
United States Lime & Minerals · by products, 2018
Questions
Which is bigger, James Hardie Industries PLC ADR or United States Lime & Minerals?
James Hardie Industries PLC ADR (JHX), at $13.6B against $3.0B.
Is JHX or USLM cheaper?
By trailing P/E, United States Lime & Minerals (23.2x) is cheaper than James Hardie Industries PLC ADR (132.2x). A lower multiple can also mean the market expects less growth.
Which grows faster, JHX or USLM?
James Hardie Industries PLC ADR: revenue grew +24.7% over the last year, against +8.3%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.