Jack Henry & Associates, Inc. (JKHY)
Sous-évaluéFondamental
77
Prix
$144.61
Capitalisation boursière
$10.36B
Partie 1 · Ce que vaut l'entreprise
Vue d'ensemble
Jack Henry sells the software that community banks and credit unions run their day-to-day operations on: deposits, loans, and every customer account balance. It does not sell to consumers directly — its customers are the roughly 8,400 small and mid-sized financial institutions that license its systems, either installed on their own premises or hosted by Jack Henry. Once a bank's core ledger runs on this software, replacing it touches every account the bank holds.
Comment l'entreprise gagne de l'argent
Most revenue is recurring: banks and credit unions pay ongoing fees to process transactions and host or license the core system, rather than a one-time purchase. On top of that base, Jack Henry sells payment-processing services billed by transaction volume, plus additional software — digital banking, lending, security tools — that can be added to an existing core system. Because switching a core system is slow and risky for a bank, renewal rates are high and revenue is predictable from year to year.
Chiffre d'affaires par segment
ATM, debit and credit card processing, bill pay, ACH origination and remote deposit capture — the services that move money once an account exists.
The processing platforms that record every deposit, loan and general-ledger entry for a bank or credit union — the system of record the rest of the business plugs into.
Additional software and hosted services — digital banking, security monitoring, call-centre support — that plug into a core system, and some of which can also be sold on their own.
Hardware sales and other revenue not attributed to the three main segments.
Avantage concurrentiel
Coûts de changement · LargeA bank's core system holds every account and transaction it has; migrating to a competitor means months of parallel testing, staff retraining and regulatory risk, all for a system customers barely notice when it works. That friction, more than any feature, is why institutions stay on the same core provider for years.
Ce qui stimule la demande
DéfensifBanks and credit unions must keep processing deposits, loans and payments in any economic environment, so the recurring, contract-based core of Jack Henry's revenue holds up in a downturn. The more discretionary parts — new hardware, project-based implementation work — are more exposed to a bank's own budget cycle.
Principaux risques
- Consolidation among customers — The banking industry has consolidated for over a decade through mergers. When two client banks merge, one core system is usually retired, and Jack Henry can be on either side of that decision.
- Competition from larger processors — Jack Henry competes against larger financial-technology providers with more resources for pricing, acquisitions and new product development, in an industry that keeps consolidating around fewer, bigger vendors.
- Reliance on the health of small and mid-sized banks — Customers are community banks and credit unions rather than the largest national banks. Regulatory or competitive pressure that shrinks this segment of the industry shrinks Jack Henry's addressable market with it.
Les arguments en faveur
Buyers argue that a customer base this sticky, with revenue mostly locked into multi-year contracts, gives Jack Henry rare visibility into future results, and that the shift of complementary products like digital banking and payments onto the core platform keeps expanding revenue per customer.
Les arguments contre
Sellers fear that bank consolidation steadily shrinks the pool of potential customers, that larger competitors with deeper pockets can undercut pricing to win conversions, and that a company this exposed to one industry's technology budgets has less room to grow once its existing base is fully penetrated.
Written by the editors, published on 18 août 2026
Direct competitors
Who this company fights with for the same customers
Generated on 19 septembre 2026 with claude-haiku-4-5 — shared with all users
Named in Jack Henry's 10-K as a core-solutions competitor, Fiserv sells the same core processing, payments and digital banking platforms to US community banks and credit unions.
Also named in the 10-K, FIS bids for the same US core processing and payments contracts, though it concentrates on larger banks than Jack Henry's typical client.
Alkami competes for the digital banking budgets of the same US credit unions and community banks, often replacing or displacing the digital layer sold alongside Jack Henry's core.
Named by Jack Henry as a core-solutions rival, this privately held vendor offers core banking and lending software to the same community and regional institutions.
The private core provider Jack Henry names in its 10-K, Corelation wins credit union core processing deals in direct head-to-head bids with Jack Henry's Symitar platform.
Q2 sells digital banking and account-opening platforms to the same US community banks and credit unions that buy Jack Henry's Banno digital suite.
Bilan & Liquidités
Chiffre d'affaires
$2.54B
12 derniers mois (au 30/06/2026)
Résultat net
$503M
12 derniers mois (au 30/06/2026)
Flux de trésorerie libre
$695M
Capitaux propres totaux
$2.05B
Passif total
$1.09B
Ratio de liquidité général
1.17
Couverture des intérêts
35.76
Dette/EBITDA
0.11
Bénéfice par action
Chiffre d'affaires & Résultat net
Flux de trésorerie libre
Décomposition du résultat
État historique
Marges dans le temps
La dette dans le temps
Le poids de la dette
Grille de la croissance
Croissance — Chiffre d'affaires
Estimation de la juste valeur
Juste valeur
$196.88
Prix actuel
$144.61
Marge de sécurité
+26.5%
Fourchette de juste valeur
$128.37 - $265.40
Écart entre les méthodes de valorisation utilisées, pas un intervalle de confiance calibré statistiquement.
Méthodes d'estimation
Indicateurs de valorisation
Ratio P/E
20.52
ROE
24.5%
Ratio P/B
4.89
P/FCF
14.45
Marge brute
43.7%
ROIC
19.4%
Radar de rentabilité
Création de valeur (avantage concurrentiel)
ROIC
19.4%
WACC
8.1%
ROIC − WACC
+11.3 pp
Le ROIC dépasse le coût du capital — l'entreprise crée de la valeur pour les actionnaires.
Critères d'analyse fondamentale
Réussi (23)
- EPS shows upward trend
- EPS CAGR 10.80%
- Price CAGR 5.27%
- ROIC 19.4%
- Gross Margin 43.7%
- P/FCF 14.45
- Debt/Equity ratio
- Operating Margin 25.0%
- Positive Free Cash Flow
- CapEx intensity
- Current Ratio
- Interest Coverage
- Debt/EBITDA
- Return on Tangible Assets
- ROE 23.5%
- Revenue Growth 5Y 7.7%
- Analyst Consensus 74% Buy
- Earnings Surprise avg 12.7%
- PEG Ratio 1.85
- Earnings Quality (OCF/NI) 1.52
- Share Dilution -1.4%
- Net Margin Trend 19.8% vs 19.2%
- Piotroski F-Score 7/9
Échoué (4)
- P/B Ratio 4.89
- Low reliance on intangibles
- Price below Graham Number
- DCF valuation (Overvalued)
Indisponible (1)
- Dividend Payout NaN%
Score F de Piotroski
Santé financière solide
Qualité des bénéfices
Qualité élevée : bénéfices soutenus par la trésorerie
Dilution du capital
Rachat d'actions. Favorable aux actionnaires
Participations institutionnelles
Gouvernance
Équipe dirigeante
| Nom | Titre | Âge |
|---|---|---|
| Mr. Gregory R. Adelson | CEO, President & Director | 60 |
| Ms. Mimi L. Carsley | CFO & Treasurer | 55 |
| Mr. Shanon G. McLachlan | Senior VP, Executive Officer & COO | - |
| Mr. Craig Keith Morgan | Chief Legal Officer & Secretary | 49 |
| Ms. Renee A. Swearingen | Senior VP, Chief Accounting Officer & Assistant Treasurer | 56 |
| Mr. Benjamin Metz | VP and Chief Digital & Technology Officer | - |
| Mr. Dennis McDonald | VP & Chief Information and Security Officer | - |
| Mr. Vance Sherard C.F.A. | Vice President of Investor Relations | - |
| Mr. Michael Carnovali | Chief Risk & Compliance Officer | - |
| Mark Folk | Director of Corporate Communications | - |
Risque d'audit
1
Risque du conseil
2
Risque de rémunération
1
Risque droits des actionnaires
5
Partie 2 · Le prix et le moment d'entrer
Cette partie ne dit pas si l'entreprise vaut la peine : elle aide à choisir quand l'acheter, une fois que les fondamentaux vous ont convaincu. À l'intérieur : analyse technique, potentiel, baisses historiques, exposition gamma.
Documents
- Voir le document
Rapport annuel (10-K)
Un aperçu annuel de l'activité, des résultats financiers et des risques de l'entreprise.
Déposé le 2026-08-28
- Voir le document
Rapport trimestriel (10-Q)
Une mise à jour de la performance financière des trois derniers mois.
Déposé le 2026-05-07
- Voir le document
Rapport d'événement important (8-K)
Un avis concernant un événement important, comme un changement de direction ou une annonce majeure.
Déposé le 2026-08-24
via SEC EDGAR
Historique des résultats
via SEC EDGAR
Latest News
Recent headlines for JKHY, sourced from Markets Gazette.
- 2/23/2026POSITIVEStablecore’s Jack Henry integration opens stablecoins to over 1,600 banks
Jack Henry & Associates, a leading technology provider for the financial industry, has announced a strategic partnership with Stablecore, integrating its stablecoin-based solutions into its Fintech Integration Network. This move opens the door to blockchain innovation for over 1,600 banks and credit unions that are Jack Henry clients. These financial institutions can now offer cutting-edge services such as tokenized deposits, crypto-backed lending, and, crucially, 24/7 payment rails. For investors, this integration represents a significant step forward, positioning Jack Henry as a critical bridge between traditional finance and the digital economy. The expanded service offering could lead to increased client retention and new customer acquisition, bolstering the company's revenue growth potential in the competitive fintech market.
via Markets Gazette