Jardine Matheson Holdings (J36) Fair Value & Analysis

Industrials · SG · Market cap $18.5B

A solid business, currently priced close to our fair value.

What matters now

• The price sits close to our fair value, market and models broadly agree here, little valuation tension.
• Our model range runs from $48.03 (bear) to $80.05 (bull), base $64.04. The closer the price sits to the lower half, the larger the margin of safety.
• Quality 52/100 (solid quality) with medium evidence: read the verdict with care.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 4, 2026.

How to read this chart

60‑month range $31.41 – $80.63 · fair‑value band $48.03 – $80.05 · the $66.41 price screens above the $64.04 fair value. Dashed = 300-day average. As of Jul 4, 2026.

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Analysis

Jardine Matheson Holdings (J36) currently trades at $66.41, while our model-based Fair Value estimate is $64.04, implying the stock looks roughly 3.6% fairly valued today. We read business quality at 52/100 (solid quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, Jardine Matheson Holdings generated revenue of $34.2B at a net margin of 3.2%. Revenue declined 7.4% year over year. It earns a return on equity of 6.1%. Net debt stands at $6.6B. Fundamentals as of Jul 4, 2026

Our scenario range runs from $48.03 (bear case) to $80.05 (bull case); at $66.41, the current price sits within that range. The share trades about 18% below its 52-week high and 41% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -14% fair-value upside, at -4%, J36 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Widest divergence: Growth DCF ($158.17) versus Earnings-Based ($31.31). Highest evidence: Growth DCF (80).

Key figures & financial health

Quality Score breakdown

About the company

Jardine Matheson Holdings Limited operates in motor vehicles and related operations, property investment and development, health and beauty, home furnishings, engineering and construction, and transport businesses in Indonesia, Hong Kong, Macau, Other Southeast Asia, Vietnam, Mainland China, and Rest of the world.

Full company description

Jardine Matheson Holdings Limited operates in motor vehicles and related operations, property investment and development, health and beauty, home furnishings, engineering and construction, and transport businesses in Indonesia, Hong Kong, Macau, Other Southeast Asia, Vietnam, Mainland China, and Rest of the world. It is also involved in providing automotive, financial, transport, and information technology services; heavy equipment distribution, mining contracting and operations; developing, owning, and managing premium and ultra-premium mixed-use and commercial real estate. The company also operates Mannings, Guardian, 7-11, Wellcome, and IKEA retailing businesses; supermarket, health and beauty, convenience, food, home furnishings, and restaurants retails; and invests, manages, and develops property. In addition, it engages in agribusiness business; providing construction and foundation services for building, civil and maritime works; motorcycles and rendering of aftersales services; supplying, installing, and servicing engineering equipment. Jardine Matheson Holdings Limited was founded in 1832 and is based in Hamilton, Bermuda.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Jardine Matheson Holdings reported revenue of $34.2B in FY2025 versus $35.9B in FY2021, a compound −1.2%/yr. Reported net income was $1.1B in FY2025, compounding −12.4%/yr from FY2021.

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Peer Group

Conglomerates · 371 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Valuation Multiples vs Conglomerates median · lower = cheaper

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.