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Jack Henry & Associates, Inc. (JKHY)

Sous-évalué
TechnologyInformation Technology ServicesUnited States

Fondamental

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

Payments36.8%

ATM, debit and credit card processing, bill pay, ACH origination and remote deposit capture — the services that move money once an account exists.

Core31.1%

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.

Complementary28.4%

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.

Corporate and Other3.7%

Hardware sales and other revenue not attributed to the three main segments.

Avantage concurrentiel

Coûts de changement · Large

A 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

Défensif

Banks 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

Compare

Generated on 19 septembre 2026 with claude-haiku-4-5 — shared with all users

P/E: 8.7Score: 65Market cap: $24.47B

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.

P/E: 5.1Score: 66Market cap: $17.69B

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.

P/E: —Score: 55Market cap: $1.46B

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.

Finastra Group Holdings LimitedNot tracked

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.

Corelation, Inc.Not tracked

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 Holdings, Inc.QTWO

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

Cas généralSous-évalué

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

Objectif de cours des analystes:$190.24
Flux de trésorerie actualisés (DCF):$303.32
Multiple de résultat (P/E):$138.14
Formule de croissance de Graham:$188.79
Valeur de la capacité bénéficiaire (EPV):$88.49
P/B justifié:$142.69
Actualisation des dividendes (Gordon):$62.00
P/FFO, les fonds provenant de l'exploitation:Données insuffisantes pour le calculer
Bénéfices de milieu de cycle:$203.84
Multiple sur le chiffre d'affaires:$183.24
Consensus des analystes:Achat fort (17B / 5H / 1S)
Dernière surprise sur les résultats:+5.40%

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

7/9

Santé financière solide

score
criteria

Qualité des bénéfices

1.52

Qualité élevée : bénéfices soutenus par la trésorerie

Dilution du capital

-1.4%

Rachat d'actions. Favorable aux actionnaires

Participations institutionnelles

Gouvernance

Équipe dirigeante

NomTitreÂge
Mr. Gregory R. AdelsonCEO, President & Director60
Ms. Mimi L. CarsleyCFO & Treasurer55
Mr. Shanon G. McLachlanSenior VP, Executive Officer & COO-
Mr. Craig Keith MorganChief Legal Officer & Secretary49
Ms. Renee A. SwearingenSenior VP, Chief Accounting Officer & Assistant Treasurer56
Mr. Benjamin MetzVP and Chief Digital & Technology Officer-
Mr. Dennis McDonaldVP & Chief Information and Security Officer-
Mr. Vance Sherard C.F.A.Vice President of Investor Relations-
Mr. Michael CarnovaliChief Risk & Compliance Officer-
Mark FolkDirector 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

  • 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

    Voir le document

via SEC EDGAR

Historique des résultats

via SEC EDGAR

Latest News

Recent headlines for JKHY, sourced from Markets Gazette.

  • 2/23/2026POSITIVE
    Stablecore’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