Johnson Matthey Boosts Profit 14% to £340M, Acquires Cormetech for $460M
Johnson Matthey's 2025/2026 underlying operating profit climbed 14% to £340 million, driven by a 12% boost in Clean Air division profit to £307 million despite an 8% sales decline. The company bolstered its emissions-control portfolio with a $460 million Cormetech acquisition while divesting its Catalyst Technologies division.
1. Fiscal 2025/2026 Profit Growth
Johnson Matthey reported a 14% increase in underlying operating profit to £340 million for the 2025/2026 fiscal year. The Clean Air division led performance with a 12% rise in operating profit to £307 million despite an 8% drop in sales, supported by improved margins and stronger cash generation.
2. Strategic Restructuring
The company committed $460 million to acquire Cormetech, aiming to expand its emissions-control offerings, while advancing the sale of its Catalyst Technologies division as part of a broader portfolio optimization. These moves position Johnson Matthey to focus on higher-growth, sustainable technologies.
3. Balance Sheet and Valuation
Johnson Matthey’s debt-to-equity ratio stands at 0.71, with a current ratio of 1.65 reflecting solid short-term liquidity. However, a negative price-to-earnings ratio of -28.63 highlights last year’s earnings challenges and underscores the importance of operational improvements.






