JHGHIGH SIGNALFINANCIAL10-K

Janus Henderson Group reported substantially higher revenue and net income that roughly doubled year-over-year, indicating exceptional business momentum.

The dramatic improvement in financial performance suggests strong asset flows, improved market conditions, or successful strategic initiatives driving fee income growth. Such robust results for an established asset manager typically reflect both market appreciation and net positive flows, positioning the company favorably for continued growth.

Comparing 2026-02-25 vs 2025-02-27View on EDGAR →
FINANCIAL ANALYSIS

JHG delivered exceptional financial results with revenue growing substantially and net income roughly doubling year-over-year, while operating income also expanded meaningfully. The balance sheet strengthened correspondingly, with current assets growing notably and stockholders' equity increasing modestly. Interest expense rose moderately, but the overall financial picture signals robust operational momentum and improved profitability across the asset management business.

FINANCIAL STATEMENT CHANGES
Net Income
P&L
+99.5%
$408.9M$815.9M

Net income grew 99.5% — bottom-line growth signals improving overall business health.

Revenue
P&L
+74.4%
$999.9M$1.7B

Strong top-line growth of 74.4% — accelerating demand or successful expansion into new markets.

Operating Income
P&L
+51.3%
$645.7M$976.8M

Operating leverage kicking in — revenue growth outpacing cost growth, a hallmark of scaling businesses.

Current Assets
Balance Sheet
+44.5%
$2.6B$3.8B

Current assets grew 44.5% — improving short-term liquidity or inventory/receivables build.

Interest Expense
P&L
+34.4%
$18.0M$24.2M

Interest expense surged 34.4% — significant debt increase or rising rates materially impacting earnings.

Current Liabilities
Balance Sheet
+24.1%
$735.0M$912.5M

Current liabilities rose 24.1% — increased short-term obligations, watch current ratio.

Total Assets
Balance Sheet
+19%
$7.0B$8.3B

Asset base grew 19% — expansion through organic growth, acquisitions, or capital deployment.

Total Liabilities
Balance Sheet
+15.3%
$1.9B$2.2B

Liabilities increased 15.3% — monitor debt-to-equity ratio and interest coverage.

Stockholders Equity
Balance Sheet
+11.3%
$4.6B$5.1B

Equity base grew 11.3% — retained earnings accumulation or equity issuance strengthening the balance sheet.

LANGUAGE CHANGES
NEW — 2026-02-25
PRIOR — 2025-02-27
ADDED
jhg20251231_10k.htm 0001274173 JANUS HENDERSON GROUP PLC false --12-31 FY 2025 true true true false true true Our Information Security team, including our Information Security leadership, has primary responsibility for identifying, assessing and managing material risks to the Company from cybersecurity threats, including our overall cybersecurity risk management program and supervision of our internal cybersecurity personnel and our external cybersecurity consultants.
Our Chief Information Security Officer ( CISO ) has over 20 years of information security/cybersecurity experience, working in a variety of roles within PricewaterhouseCoopers LLP, as the Director of Cyber Operations for Nationwide Building Society, the CISO at The Crown Estate and the CISO at Insight Investment.
Our Information Security team, including our Information Security leadership, has primary responsibility for identifying, assessing and managing material risks to the Company from cybersecurity threats, including our overall cybersecurity risk management program and supervision of our internal cybersecurity personnel and our external cybersecurity consultants.
Our Chief Information Security Officer ( CISO ) has over 20 years of information security/cybersecurity experience, working in a variety of roles within PricewaterhouseCoopers LLP, as the Director of Cyber Operations for Nationwide Building Society, the CISO at The Crown Estate and the CISO at Insight Investment.
Our Information Security team, including our Information Security leadership, has primary responsibility for identifying, assessing and managing material risks to the Company from cybersecurity threats, including our overall cybersecurity risk management program and supervision of our internal cybersecurity personnel and our external cybersecurity consultants.
Our Chief Information Security Officer ( CISO ) has over 20 years of information security/cybersecurity experience, working in a variety of roles within PricewaterhouseCoopers LLP, as the Director of Cyber Operations for Nationwide Building Society, the CISO at The Crown Estate and the CISO at Insight Investment.
The fair value of the noncontrolling interest was determined based on an extrapolation of consideration method.
The fair value of the investment management contracts was determined based on the multi-period excess earnings method (a Level 3 input) and has a useful life of approximately four years.
The definite-lived intangible assets are amortized on a straight-line basis over the useful life and have a weighted-average useful life of approximately six years.
The number of exercisable options represents instruments for which all vesting criteria have been satisfied and whose exercise price was below the closing price of our common stock as of the end of the period.
REMOVED
Reclassifications to net income are primarily related to the release of accumulated foreign currency translation reserves during the period in which a JHG entity is disposed of.
As of December 31, 2024 and 2023, financing lease assets and liabilities were insignificant.
The majority of the 2023 loss carryforward relates to the UK capital loss of $294.7 million, before tax effects, which may be carried forward without time limitation.
There is a full valuation allowance against UK capital losses.
For the years ended December 31, 2024, 2023 and 2022, finance lease costs were insignificant.
Future lease obligations for finance leases were insignificant as of December 31, 2024.
As of February 25, 2025, there were 157,557,812 shares of the Company s common stock, $1.50 par value per share, issued and outstanding.
We are a client-focused global business with approximately 2,300 employees worldwide and assets under management ( AUM ) of $378.7 billion as of December 31, 2024.
We are mindful that our thinking and investments help shape the futures of millions of people as we fulfill our purpose of Investing in a brighter future together.
GAAP ); however, JHG management evaluates the profitability of the Company and its ongoing operations using non-GAAP financial measures that are consistent with internal management reporting.
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