Johnson Matthey Plc (JMPLF) Stock Analysis

Johnson Matthey Plc (JMPLF) Materials & Commodity Exposure

Johnson Matthey Plc, a global leader in specialty chemicals, provides clean air catalysts, efficient natural resource technologies, and platinum group metal services. With a focus on sustainability and innovation, the company serves diverse industries, including automotive, oil & gas, and healthcare, operating in a competitive landscape.

What Is the Investment Thesis for JMPLF?

Johnson Matthey Plc presents a mixed investment case. The company's focus on clean air technologies aligns with increasing environmental regulations and demand for emission control solutions. The dividend yield of 4.01% may attract income-seeking investors. However, the negative P/E ratio of -24.99 and a negative profit margin of -1.1% raise concerns about profitability. Growth catalysts include expansion in battery materials and green hydrogen technologies. Investors should carefully consider the company's financial performance and competitive landscape before investing. The company's beta of 0.95 indicates moderate volatility relative to the market.

Based on FMP financials and quantitative analysis

JMPLF Key Highlights

Market capitalization of $4.80B reflects its significant presence in the specialty chemicals market.

• Dividend yield of 4.01% offers an income stream for investors, although it should be evaluated in light of the company's profitability.
• Negative P/E ratio of -24.99 suggests the company is currently not profitable.
• Gross margin of 7.0% indicates a relatively low level of profitability after accounting for the cost of goods sold.
• Beta of 0.95 suggests the stock's price is slightly less volatile than the overall market.

Who Are JMPLF's Competitors?

JMPLF is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.

AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance This table mixes two scoring engines — compare a number only with others carrying the same tag.

What Are JMPLF's Key Strengths?

Strong market position in emission control catalysts.

• Expertise in platinum group metals (PGMs) and related services.
• Focus on sustainable technologies and circular economy practices.
• Global presence and established customer relationships.

What Are JMPLF's Weaknesses?

Negative profitability and low gross margin.

• Exposure to cyclical industries, such as automotive and oil & gas.
• Dependence on regulatory changes and government policies.
• Potential for fluctuations in PGM prices.

What Could Drive JMPLF Stock Higher?

Increasing demand for emission control catalysts due to stricter environmental regulations worldwide.

• Potential breakthroughs in battery technology that could significantly improve the performance and cost of electric vehicles.
• Expansion of green hydrogen infrastructure and adoption of hydrogen fuel cell technology.
• New product launches in the medical device components segment.
• Growth in the platinum group metals (PGM) recycling market.

What Are the Key Risks for JMPLF?

Negative return on equity (-4.7%) — the business is not currently generating profit on shareholder capital.

• Inconsistent delivery — missed Wall Street EPS estimates in 5 of the last 8 reported quarters.
• Fluctuations in platinum group metal (PGM) prices could impact profitability.
• Economic downturns could reduce demand for automotive catalysts and other industrial products.
• Technological disruptions in the automotive industry (e.g., shift to electric vehicles) could reduce demand for traditional emission control catalysts.
• Increased competition from other specialty chemical companies.
• Regulatory changes and government policies could impact the company's business.

What Are the Growth Opportunities for JMPLF?

• Expansion in Battery Materials: Johnson Matthey is investing in the development and production of advanced battery materials for electric vehicles. Johnson Matthey's expertise in materials science and electrochemistry positions it to capture a significant share of this market. Timeline: Ongoing, with increasing production capacity planned over the next 3-5 years.
• Green Hydrogen Technologies: The company is developing technologies for the production, storage, and utilization of green hydrogen. The green hydrogen market is expected to grow rapidly as countries seek to decarbonize their energy systems. Johnson Matthey's catalysts and process technologies can play a crucial role in enabling the production of cost-effective green hydrogen. Timeline: Pilot projects underway, with commercial deployment expected in the next 3-7 years.
• Emission Control Technologies: Johnson Matthey continues to innovate in emission control technologies for vehicles, addressing increasingly stringent regulations worldwide. The market for emission control catalysts is expected to remain robust, driven by the need to reduce air pollution from both gasoline and diesel vehicles. Timeline: Ongoing, with continuous development of new catalyst formulations.
• Platinum Group Metals (PGM) Services: The company provides refining and recycling services for PGMs, which are essential for various industrial applications. The demand for PGMs is expected to remain strong, driven by their use in catalytic converters, electronics, and other applications. Johnson Matthey's expertise in PGM processing and recycling provides a competitive advantage. Timeline: Ongoing, with increasing focus on sustainable sourcing and circular economy practices.
• Medical Device Components: Johnson Matthey develops materials and components for medical devices, leveraging its expertise in materials science and engineering. The medical device market is expected to grow steadily, driven by aging populations and increasing healthcare spending. Johnson Matthey's products include precious metal pastes and enamels used in medical devices. Timeline: Ongoing, with continuous development of new materials and applications.

What Are JMPLF's Competitive Advantages?

• Technological expertise in catalyst development and materials science.
• Strong relationships with automotive manufacturers and other key customers.
• Extensive intellectual property portfolio, including patents and trade secrets.
• Global presence and established infrastructure for manufacturing and distribution.
• Expertise in the refining and recycling of PGMs, creating a circular economy advantage.

What Does JMPLF Do?

Founded in 1817 as Johnson & Cock, Johnson Matthey Plc has evolved into a global leader in specialty chemicals and sustainable technologies. Headquartered in London, the company operates in over 30 countries and employs over 11,000 people. Johnson Matthey's core business revolves around three segments: Clean Air, Efficient Natural Resources, and Other Markets. The Clean Air segment develops catalysts for emission control in vehicles, reducing harmful pollutants. The Efficient Natural Resources segment provides technologies for the processing and transformation of natural resources, including oil, gas, and platinum group metals (PGM). The Other Markets segment encompasses a diverse portfolio, including battery systems, fuel cell technologies, and medical device components. Johnson Matthey's commitment to innovation and sustainability drives its growth, addressing global challenges related to clean air, resource efficiency, and healthcare. The company changed its name to Johnson Matthey Plc in 1851, marking a significant milestone in its long history.

What Products and Services Does JMPLF Offer?

• Develops and manufactures catalysts for emission control in vehicles.
• Provides technologies for the processing and transformation of natural resources.
• Offers refining and recycling services for platinum group metals (PGMs).
• Develops battery materials for electric vehicles.
• Creates fuel cell technologies for clean energy applications.
• Supplies precious metal pastes and enamels for various industries, including medical devices.
• Provides process technology and engineering design licenses.

How Does JMPLF Make Money?

• Sells catalysts and related technologies to automotive manufacturers.
• Provides process technology licenses and engineering services to companies in the oil, gas, and chemical industries.
• Generates revenue from the refining and recycling of PGMs.
• Sells battery materials to electric vehicle manufacturers.
• Provides components and materials to medical device companies.

What Industry Does JMPLF Operate In?

Johnson Matthey Plc operates in the specialty chemicals industry, which is characterized by innovation, stringent regulations, and diverse end markets. The industry is driven by increasing demand for sustainable solutions, emission control technologies, and advanced materials. Key trends include the shift towards electric vehicles, the adoption of cleaner energy sources, and the growing importance of circular economy practices. Johnson Matthey competes with companies like Ashland Global Holdings (ASH), Avantor, Inc. (AVTR), Axalta Coating Systems (AXTA), Cabot Corporation (CBT), and Balchem Corporation (BCPC), each with its own strengths and market focus.

Who Are JMPLF's Key Customers?

• Automotive manufacturers (e.g., OEMs) requiring emission control catalysts.
• Oil and gas companies seeking process technologies for refining and chemical production.
• Chemical companies requiring specialty catalysts and additives.
• Electric vehicle manufacturers needing battery materials.
• Medical device companies utilizing precious metal pastes and enamels.

Johnson Matthey Plc has missed Wall Street's EPS estimate in 5 of its last 8 reported quarters — a recurring pattern of falling short of estimates. Reported results have landed about 9.7% below estimates on average.

Quarterly Financial Performance: Johnson Matthey Plc

Revenue for Johnson Matthey Plc came in at $9.79B during Q4 FY2026, a 35.3% improvement versus the preceding quarter. The company recorded a net loss of $105.7M, with diluted EPS of $-0.63. Quarter-over-quarter revenue has been mixed, typical for a mid-cap company operating in Basic Materials. Across the four most recent quarters, JMPLF averaged $0.49 in diluted EPS.

JMPLF Valuation & Market Position

With a $4.80B market cap, Johnson Matthey Plc sits in the mid-cap segment of the market.

Return on equity for Johnson Matthey Plc stands at -4.7%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is -1.6%, showing how much profit it generates from its asset base. Its free cash flow yield is 5.0%, a gauge of the cash the business throws off relative to its market value. A current ratio of 1.56 indicates the company holds enough short-term assets to cover its near-term obligations. Its earnings yield is -3.0%, the inverse of the P/E and a quick read on earnings relative to price.

Johnson Matthey Plc's Piotroski F-Score is 7/9, a 9-point checklist of profitability, leverage and efficiency — signaling solid underlying fundamentals. Its Altman Z-Score of 5.68 places it in the safe zone, indicating low near-term bankruptcy risk.

Company Profile

Johnson Matthey Plc operates in the Chemicals - Specialty industry within the Basic Materials sector. It is headquartered in London, GB. The company is led by CEO Liam Condon. JMPLF has traded publicly since 2010.

JMPLF Financials

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Johnson Matthey Plc Basic Materials Stock: Key Questions Answered

Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.

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