Janus Henderson Projects 6% EPS Drop in FY26, 8% Rebound to $4.90
Janus Henderson Group cut costs and improved margins, posting record FY25 EPS while forecasting a 6% EPS decline in FY26 and an 8% rebound to $4.90 in FY27. Analysts raised FY26 and FY27 EPS estimates by 4% and 2% over 60 days; shares trade at 10X forward earnings.
1. Restructuring and Margin Improvements
Over the past few years, Janus Henderson Group implemented restructuring initiatives, including cost reductions and margin optimization, which helped deliver record adjusted earnings per share in fiscal 2025. Management attributes this performance to streamlined operations and an improved revenue mix across its investment advisory segments.
2. EPS Outlook for FY26 and FY27
The company forecasts a 6% decline in EPS for fiscal 2026, reflecting market headwinds and normalization of earlier gains, before projecting an 8% rebound to $4.90 in fiscal 2027. Over the past 60 days, analysts have raised their EPS estimates by 4% for FY26 and 2% for FY27 on signs of stabilizing inflows and tighter cost controls.
3. Attractive Valuation
Despite a 70% share price rally over three years, Janus Henderson trades at roughly 10 times forward earnings, a valuation multiple below its peers. This valuation gap, combined with upward earnings revisions, highlights potential upside for investors seeking fee-based asset management exposure.