Jardine Matheson Holdings Limited

Jardine Matheson Holdings Limited

53.90
EUR
+0.85
(+1.60%)
17.17BMarket Cap
Mar 11Next Earn
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
106.84
107.49
98.84
98.69
102.67
112.68
108.72
88.38
114.14
129.26
123.84
122.91
115.95
- -
Basic EPS, GAAP
4.24
4.6
4.8
6.67
10.45
4.56
7.54
-1.07
5.99
1.22
2.36
-1.61
3.76
- -
Free Cash Flow per Basic Share
6.49
5.16
7.42
7.39
7.66
9.45
8.77
11.95
13.5
12.29
9.4
12.45
13.43
- -
Dividend per Share
0.8
0.92
0.94
0.86
0.9
0.97
1.06
1.06
1.12
1.46
1.56
1.54
1.56
- -
Book Value per Share
26.9
27.78
28.22
30.44
34.86
35.24
41.25
40.44
102.66
99.45
100
95.14
97.82
97.82
Tangible Book Value per Share
23.48
23.92
24.31
26.5
31.89
32.33
38.13
37.47
95.35
92.6
93.81
89.43
92.44
92.44
Basic Weighted Avg Shares
369
371
374
375
377
377
376
369
314
290
291
291
295
294
Sales/Revenue/Turnover
39,465
39,921
37,007
37,051
38,748
42,527
40,922
32,647
35,862
37,496
36,049
35,779
34,217
- -
Operating Margin (%)
9.05
9.06
7.42
8.74
9.84
7.66
13.6
8.56
12.39
10.04
11.69
9.44
10.36
- -
Depreciation Expense
1,039
1,007
963
945
981
2,184
2,406
2,427
2,221
2,108
2,078
2,174
2,192
- -
Net Income, GAAP
1,566
1,710
1,799
2,503
3,943
1,722
2,838
-394
1,881
354
686
-468
1,109
- -
Effective Tax Rate (%)
17.48
17.11
13.28
10.38
8.63
17.6
17.62
- -
24.31
29.79
28.53
61.22
21.66
- -
Profit Margin (%)
3.97
4.28
4.86
6.76
10.18
4.05
6.94
-1.21
5.25
0.94
1.9
-1.31
3.24
- -
Working Capital
3,757
5,079
4,147
4,731
2,559
137
3,823
5,491
4,604
3,661
1,566
3,099
8,147
8,147
LT Debt
6,473
7,416
6,995
6,861
10,998
10,572
11,933
12,862
15,321
15,024
14,099
14,027
12,549
12,549
Total Equity
42,782
44,805
45,500
49,802
57,442
58,798
65,071
62,843
58,368
56,260
55,931
53,320
54,647
54,647
Return on Invested Capital (%)
5.34
5.5
5.8
8.83
11.42
4.86
4.79
- -
2.83
2.54
2.27
0.6
3.98
- -
Return on Capital (%)
-1.24
-0.86
-0.38
-0.84
-0.88
-0.76
2.14
- -
1.49
-1.51
-0.63
-1.61
-0.76
- -
Return on Common Equity (%)
8.66
9.08
9.19
12
16.7
6.69
10.06
-1.32
6.36
1.21
2.37
-1.65
3.9
- -

Capital Structure

USD

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
ST Debt
5,375
5,553
5,602
LT Borrowings
11,254
10,254
10,232
LT Finance Leases
2,773
2,800
2,317
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
293
297
297
Market Capitalization
11,971
14,034
20,175

Working Capital

USD

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
Total Current Assets
19,811
19,473
23,635
Cash, Cash Equivalents & STI
4,888
5,455
8,936
Accounts Receivable, Net
2,130
7,091
2,107
Inventories
6,211
6,033
4,630
Total Current Liabilities
16,712
15,677
15,488
Payables & Accruals
- -
- -
- -
ST Debt
5,375
5,553
5,602
Deferred Revenue
- -
- -
- -

Growth Rates

USD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
2.09%
-2.7%
2.49%
Free Cash Flow
5.24%
-0.26%
9.41%
Net Income, GAAP
-107.87%
-214%
-336.97%
Sales/Revenue/Turnover
-0.41%
1.09%
-4.37%
Total Cash Common Dividend
3.08%
3.76%
3.13%

Semi-annual Revenue

USD

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
36,049
2024
- -
- -
35,779
2025
- -
- -
34,217

Semi-annual Earnings Per Share

USD

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
2.36
2024
- -
- -
-1.61
2025
- -
- -
3.76

Semi-annual Dividends Per Share

USD

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
1.56
2024
- -
- -
1.54
2025
- -
- -
1.56

Company Description

CEO
Lincoln Pan
Full Time Employees
433,000
Sector
Producer manufacturing
Industry
Industrial conglomerates
Address
Jardine House, 33-35 Reid Street Hamilton HA Bermuda
IPO Date
Feb 20, 1991
Business
Jardine Matheson Holdings Limited operates as a diversified holding company with a principal focus on Asia, providing strategic oversight and investment management across its portfolio of subsidiaries and associated companies. It engages in a broad range of activities through its seven operating divisions and affiliates, including property investment and development, motor vehicles and related activities, retailing and restaurants, financial services and insurance broking, hospitality and hotel management, engineering and construction, transport services, heavy equipment, mining and agribusiness, and related services. Main products and services - Property: investment, development, and management via Hongkong Land and related real estate interests; portfolio asset recycling and development activities, including commercial, retail, and mixed-use projects. - Motors: distribution and retail of motor vehicles and related services under Jardine Motors Group; vehicle operations, after-sales, service networks, and parts supply. - Retail and food service: ownership and operation of a diversified retail network across convenience, food, beauty, and home categories; restaurant operations and brand management. - Financial services and insurance broking: brokerage, risk management, advisory services, and related financial products through Jardine Lloyd Thompson and allied entities. - Hospitality and luxury: investment, ownership, and management of luxury hotels and related hospitality services via Mandarin Oriental; brand and asset management in luxury segments. - Engineering, construction, and heavy equipment: provision of engineering solutions, project management, and equipment supply for industrial and infrastructure projects. - Agribusiness and mining: ownership, investment, and operational exposure to mining and agricultural initiatives in select markets. - Diversified holdings and investment management: operating headquarters in Hong Kong with corporate governance and strategic planning for a conglomerate structure; active capital allocation across businesses. Latest major company changes - Strategic asset monetisation and portfolio optimisation programs, including real estate capital recycling initiatives by Hongkong Land and portfolio simplifications at other subsidiaries. - Ongoing plan to privatise or partially privatise select investments (notably Mandarin Oriental) as part of capital structure optimization and strategic realignment. - Shareholder return initiatives, including planned share buybacks to enhance capital return and support earnings per share, subject to market conditions and regulatory approvals. - Formation and expansion of strategic partnerships and alliances across Asia in real estate, hospitality, and consumer sectors to accelerate growth and asset-light initiatives. - Geographic expansion and intensified investment in Asia-Pacific markets, with emphasis on China, Southeast Asia, and Greater China-related ventures. Additional context - Industry and segments: diversified conglomerate with core exposure to property, automotive, retail and restaurants, hospitality, financial services, engineering, transport, and mining. - Target markets: corporate and institutional clients, high-net-worth individuals, real estate developers, retailers, and hospitality guests across Asia-Pacific with global reach through flagship brands. - Geographic operations: primary focus on Hong Kong and Greater China, Southeast Asia, and other parts of Asia; operations include investments in multiple Asian economies and a presence in key financial centers. - Founding year and headquarters: established as a prominent holding company with headquarters in Hong Kong; historically rooted in Asia-focused expansion. - Subsidiaries and parent relationships: manages a broad portfolio through principal subsidiaries such as Jardine Pacific, Jardine Motors, Jardine Lloyd Thompson, Hongkong Land, Dairy Farm, Mandarin Oriental, Jardine Cycle & Carriage, and Astra International; maintains centralized governance and cross-holdings within the group structure.

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