James Hardie Industries PLC (JHX): Business Model Canvas [Jan-2025 Mis à jour]

Dans le monde dynamique des matériaux de construction, James Hardie Industries Plc (JHX) est une force pionnière, révolutionnant la construction à travers des solutions innovantes de ciment de fibres qui épousent la durabilité, l'esthétique et la durabilité. Leur toile de modèle commercial méticuleusement conçu révèle une approche stratégique qui transcende la fabrication traditionnelle, positionnant l'entreprise comme un acteur transformateur sur les marchés mondiaux de la construction. Des recherches de pointe aux partenariats stratégiques et aux propositions de valeur centrées sur le client, le modèle commercial de JHX illustre la façon dont une organisation avant-gardiste peut répondre simultanément aux besoins architecturaux, aux préoccupations environnementales et aux demandes du marché.

James Hardie Industries PLC (JHX) - Modèle d'entreprise: partenariats clés

Fournisseurs stratégiques de matières premières

James Hardie maintient des partenariats critiques avec les fournisseurs de matières premières:

Type de matériau	Fournisseurs clés	Volume annuel (2023)
Ciment	Lafargeholcim	523 000 tonnes métriques
Fibres de cellulose	Sappi Limited	187 500 tonnes métriques
Additifs chimiques	Basf se	42 600 tonnes métriques

Distributeurs de matériaux de construction

Les partenariats de distribution stratégique comprennent:

• The Home Depot (Amérique du Nord)
• Les entreprises de Lowe
• Bunnings Warehouse (Australie)
• 84 Company de bois d'oeuvre

Partenariats d'architecture et d'ingénierie

Type de partenaire	Nombre de partenariats actifs	Portée géographique
Cabinets d'architectes	276	États-Unis, Australie, Nouvelle-Zélande
Conseillers d'ingénierie	124	Amérique du Nord, Europe

Partenaires de construction régionaux

Partenariats de fabrication et de construction régionaux clés:

• Boral Limited (Australie)
• CSR Limited (Nouvelle-Zélande)
• Builders FirstSource (États-Unis)
• ABC Supply Co. (États-Unis)

Partenaires de recherche sur la technologie et l'innovation

Institution de recherche	Domaine de mise au point	Investissement annuel
CSIRO (Australie)	Matériaux de construction durables	4,2 millions de dollars
Institut de technologie du Massachusetts	Composites avancés	3,7 millions de dollars
Université de Californie, Berkeley	Matériaux résistants aux tremblements de terre	2,9 millions de dollars

James Hardie Industries PLC (JHX) - Modèle d'entreprise: Activités clés

Fabrication et développement de produits de ciment de fibre

En 2023, James Hardie a exploité 20 installations de fabrication dans le monde, avec une capacité de production d'environ 3,2 milliards de mètres carrés de produits de fibre de ciment par an.

Emplacement de fabrication	Capacité de production annuelle
États-Unis	1,8 milliard de mètres carrés
Europe	450 millions de mètres carrés
Asie-Pacifique	950 millions de mètres carrés

Recherche et innovation dans les matériaux de construction

James Hardie a investi 86,4 millions de dollars dans la recherche et le développement au cours de l'exercice 2023.

• 5 centres de R&D dédiés dans le monde entier
• Plus de 200 ingénieurs de recherche et scientifiques
• 25 demandes de brevet actives dans la technologie des matériaux de construction

Marketing mondial et positionnement de la marque

Les dépenses de marketing en 2023 étaient de 214,3 millions de dollars sur les marchés mondiaux.

Marché	Dépenses marketing
Amérique du Nord	152,6 millions de dollars
Europe	37,8 millions de dollars
Asie-Pacifique	23,9 millions de dollars

Distribution des produits et gestion de la chaîne d'approvisionnement

James Hardie exploite un réseau de distribution complexe avec plus de 350 partenaires de distribution directe et plus de 12 000 canaux de vente indirects.

• 7 centres de distribution régionaux
• Réseau logistique couvrant 15 pays
• Ratio de renouvellement des stocks moyens: 4,2 fois par an

Initiatives de conformité à la durabilité et à l'environnement

Les investissements en conformité environnementale ont totalisé 45,7 millions de dollars en 2023.

Initiative de durabilité	Investissement
Réduction des émissions de carbone	22,3 millions de dollars
Programmes de réduction des déchets	15,4 millions de dollars
Intégration d'énergie renouvelable	8 millions de dollars

James Hardie Industries PLC (JHX) - Modèle d'entreprise: Ressources clés

Installations de fabrication avancées

James Hardie exploite des installations de fabrication dans plusieurs pays:

Pays	Nombre d'installations	Capacité de production totale
États-Unis	13	2,4 milliards de mètres carrés par an
Australie	4	600 millions de mètres carrés par an
Nouvelle-Zélande	1	150 millions de mètres carrés par an
Philippines	2	300 millions de mètres carrés par an

Technologie de ciment de fibres propriétaires

Détails de la propriété intellectuelle:

• Brevets actifs totaux: 87
• Protection des brevets dans 16 pays
• Investissement en R&D: 82,3 millions de dollars en 2023

Main-d'œuvre qualifiée

Composition de la main-d'œuvre:

Catégorie	Nombre d'employés
Total des employés	4,200
Fabrication de travailleurs	2,800
Recherche & Développement	320
Spécialistes de l'ingénierie	240

Capacités de recherche et de développement

Infrastructure de R&D:

• 3 centres de recherche dédiés
• Dépenses annuelles de R&D: 82,3 millions de dollars
• Pipeline d'innovation: 12 projets de développement de produits actifs

Ressources financières

Métrique financière	Valeur 2023
Actif total	3,6 milliards de dollars
Equivalents en espèces et en espèces	428 millions de dollars
Fonds de roulement	612 millions de dollars
Total des capitaux propres	2,1 milliards de dollars

James Hardie Industries PLC (JHX) - Modèle d'entreprise: propositions de valeur

Matériaux de construction de ciment de fibres à haute durabilité

James Hardie Industries produit des produits de ciment de fibre avec les spécifications clés suivantes:

Catégorie de produits	Métriques de durabilité	Durée de vie moyenne
Revêtement de ciment de fibres	Garantie limitée de 50 ans	Jusqu'à 100 ans
Garniture de ciment de fibres	Résistant à la pourriture et à la décroissance	Plus de 50 ans

Résistance supérieure aux dommages causés par le feu, l'humidité et les parasites

Métriques de performance de résistance:

• Évaluation d'incendie: classe A (plus haut niveau)
• Absorption d'humidité: moins de 3%
• Résistance aux termites: protection à 100%

Options de conception esthétique pour la construction résidentielle et commerciale

Catégorie de conception	Options de couleur	Variations de texture
Revêtement résidentiel	37 couleurs préfinies	5 Profils de texture distincts
Panneaux commerciaux	Correspondance des couleurs personnalisées	3 textures architecturales

Solutions de construction environnementales durables

Mesures de durabilité:

• Réduction des émissions de carbone: 18% inférieure à celle des matériaux traditionnels
• Contenu recyclé: jusqu'à 10% dans la composition des produits
• Contribution de l'efficacité énergétique: réduit le pontage thermique du bâtiment de 22%

Alternative rentable aux matériaux de construction traditionnels

Comparaison des matériaux	Coût initial	Coût de maintenance à long terme
Revêtement de ciment de fibres	5 $ à 10 $ par pied carré	Coûts de maintenance minimale
Revêtement en bois	6 $ - 12 $ par pied carré	Entretien récurrent élevé

James Hardie Industries PLC (JHX) - Modèle d'entreprise: Relations clients

Assistance des ventes directes et consultation technique

James Hardie maintient une équipe de vente dédiée avec 127 représentants des ventes directes en Amérique du Nord à partir de 2023. Les services de consultation technique comprennent:

• Support de spécification de produit personnalisé
• Services de conseil technique sur place
• Consultation architecturale personnalisée

Canal de support client	Volume de contact annuel	Temps de réponse moyen
Ligne d'assistance technique	42 586 interactions client	Moins de 4 heures
Portail de support numérique	78 234 demandes de demandes en ligne	Dans les 24 heures

Plates-formes de fiançailles clients numériques

Métriques d'engagement numérique pour 2023:

• Trafic de site Web: 1,2 million de visiteurs uniques
• Téléchargements d'applications mobiles: 87 456
• Utilisation du configurateur du produit en ligne: 53 290 interactions

Formation et ressources éducatives pour les entrepreneurs

James Hardie investit dans l'éducation des entrepreneurs:

• Participants du programme d'installation certifié: 6 892
• Sessions de formation annuelles: 342 ateliers
• Modules de formation en ligne: 24 cours complets

Programme de formation	Participants	Taux de certification
Programme d'installation professionnel	4 567 entrepreneurs	Taux de certification de 92%

Service de garantie et de ventes après les ventes

Statistiques de service de garantie pour 2023:

• Réclamations de garantie totale traitées: 3 246
• Temps de résolution moyenne des réclamations: 10,2 jours
• Évaluation de satisfaction du client: 87%

Engagement des réseaux communautaires et professionnels

Métriques d'engagement du réseau professionnel:

• Parrainages de la conférence de l'industrie: 18
• Adhésions à l'association professionnelle: 42
• Abonnés professionnels des médias sociaux: 128 756

Plate-forme de fiançailles	Interactions annuelles	Atteindre
LinkedIn Professional Network	76 432 interactions	Professionnels mondiaux de la construction

James Hardie Industries PLC (JHX) - Modèle d'entreprise: canaux

Plateformes de vente en ligne

James Hardie utilise plusieurs canaux de vente numériques avec les mesures suivantes:

Plate-forme	Volume de vente en ligne annuel	Trafic numérique
Site Web de l'entreprise	42,3 millions de dollars	1,2 million de visiteurs / an uniques
Portails de distribution	67,5 millions de dollars	850 000 utilisateurs / an uniques

Magasins de vente au détail de rénovation domiciliaire

Les partenariats clés des canaux de vente au détail comprennent:

• The Home Depot: 1 200 lieux de magasin
• Lowe's: 1 700 magasins de magasins
• Menards: 355 lieux de magasin

Équipes de vente directes

Segment de l'équipe de vente	Nombre de représentants	Volume des ventes annuelles
Construction résidentielle	184 représentants	412,6 millions de dollars
Construction commerciale	92 représentants	276,3 millions de dollars

Salons de l'industrie de l'industrie de la construction

Mesures de participation annuelle des salons commerciaux:

• Les salons commerciaux totaux sont présents: 27
• Total des pistes générées: 4 563
• Taux de conversion: 18,4%

Canaux de marketing numérique et de commerce électronique

Canal numérique	Métriques d'engagement	Revenus générés
Liendin	48 000 abonnés	3,2 millions de dollars
Youtube	126 000 abonnés	1,7 million de dollars
Instagram	35 000 abonnés	2,1 millions de dollars

James Hardie Industries PLC (JHX) - Modèle d'entreprise: segments de clientèle

Constructeurs de maisons résidentielles

Taille du marché: environ 595 000 maisons unifamiliales commencent aux États-Unis en 2023.

Caractéristiques du segment	Pénétration du marché
Construction d'une maison unifamiliale	42% du marché total du constructeur de maisons
Projets résidentiels multifamiliaux	18% de l'engagement des segments

Entreprises de construction commerciale

Valeur du marché de la construction commerciale totale: 1,4 billion de dollars en 2023.

• Le segment comprend des immeubles de bureaux
• Projets de construction institutionnels
• Retail et installations industrielles

Type de projet	Part de marché
Construction de bureau	22% du segment commercial
Bâtiments institutionnels	35% du segment commercial

Architectes et professionnels du design

Marché total des services architecturaux: 325 milliards de dollars dans le monde en 2023.

• Achats axés sur les spécifications
• Matériaux de construction haute performance

Catégorie professionnelle	Niveau d'engagement
Architectes résidentiels	37% des décisions de spécification
Architectes commerciaux	53% des décisions de spécification

Entrepreneurs de rénovation domiciliaire

Taille du marché de l'amélioration de la maison: 486 milliards de dollars aux États-Unis pour 2023.

• Projets de rénovation et de rénovation
• Remplacements de revêtement extérieur

Type entrepreneur	Segment de marché
Entrepreneurs résidentiels	65% du marché de l'amélioration de la maison
Entrepreneurs du revêtement spécialisé	28% du marché de la rénovation extérieure

Promoteurs immobiliers

Marché total du développement immobilier: 1,2 billion de dollars en 2023.

• Développements résidentiels à grande échelle
• Projets immobiliers à usage mixte

Type de développement	Pourcentage du marché
Développements résidentiels	47% du marché total
Développements à usage mixte	29% du marché total

James Hardie Industries PLC (JHX) - Modèle d'entreprise: Structure des coûts

Achat de matières premières

Coût total des matières premières pour l'exercice 2023: 1,2 milliard de dollars

Matière première	Coût annuel	Pourcentage des dépenses totales de matières premières
Composants de ciment de fibre	720 millions de dollars	60%
Ciment	240 millions de dollars	20%
Fibres de cellulose	180 millions de dollars	15%
Autres matériaux	60 millions de dollars	5%

Frais de fabrication et de production

Coûts de fabrication totaux pour l'exercice 2023: 850 millions de dollars

• Coûts de main-d'œuvre: 320 millions de dollars
• Entretien de l'équipement: 150 millions de dollars
• Consommation d'énergie: 180 millions de dollars
• Frais généraux d'usine: 200 millions de dollars

Investissements de recherche et développement

Dépenses de R&D pour l'exercice 2023: 135 millions de dollars

Zone de focus R&D	Montant d'investissement
Innovation de produit	85 millions de dollars
Technologies de durabilité	35 millions de dollars
Optimisation du processus	15 millions de dollars

Dépenses de marketing et de vente

Total des coûts de marketing et de vente pour l'exercice 2023: 210 millions de dollars

• Marketing numérique: 45 millions de dollars
• Salon du commerce et marketing d'événements: 30 millions de dollars
• Compensation de l'équipe de vente: 95 millions de dollars
• Matériel publicitaire et promotionnel: 40 millions de dollars

Coûts mondiaux de distribution et de logistique

Total des dépenses de distribution et de logistique pour l'exercice 2023: 280 millions de dollars

Canal de distribution	Coût	Pourcentage des dépenses logistiques totales
Amérique du Nord	160 millions de dollars	57%
Europe	50 millions de dollars	18%
Asie-Pacifique	70 millions de dollars	25%

James Hardie Industries PLC (JHX) - Modèle d'entreprise: Strots de revenus

Ventes de produits de fibre de ciment

Pour l'exercice 2023, James Hardie a déclaré des ventes nettes totales de 3,7 milliards de dollars. Les ventes de produits de fibre de ciment représentaient la source de revenus principale.

Région	Revenus (USD)	Pourcentage des ventes totales
Amérique du Nord	2,85 milliards de dollars	77%
Australie	488 millions de dollars	13.2%
Europe	237 millions de dollars	6.4%
Asie	125 millions de dollars	3.4%

Systèmes de panneaux architecturaux

Les systèmes de panel architectural ont généré environ 412 millions de dollars de revenus pour 2023.

• Panneaux architecturaux spécialisés pour les applications commerciales et résidentielles
• Solutions de conception personnalisées pour les projets de construction haut de gamme
• Prix ​​premium pour les produits architecturaux spécialisés

Solutions de revêtement résidentiel

Les solutions de revêtement résidentiel ont représenté 2,1 milliards de dollars de ventes au cours de 2023.

Catégorie de produits	Revenus (USD)
Revêtement de gamme de hardieplank	1,2 milliard de dollars
Revêtement de tintement	456 millions de dollars
Revêtement vertical Hardiepanel	344 millions de dollars

Matériaux de construction commerciaux

Les revenus des matériaux de construction commerciaux ont atteint 865 millions de dollars en 2023.

• Systèmes de revêtement extérieur hardiecomm
• Solutions de construction commerciale cotées en incendie
• Matériaux de construction résidentielle multifamiliale

Revenus d'expansion du marché international

Les revenus du marché international ont totalisé 662 millions de dollars en 2023.

Marché international	Croissance des revenus
Europe	Augmentation de 5,2%
Asie	Augmentation de 3,8%
Nouvelle-Zélande	Augmentation de 2,5%

James Hardie Industries plc (JHX) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose James Hardie Industries plc over alternatives, grounded in the numbers from their Fiscal Year 2025 performance and recent strategic positioning.

The primary value proposition centers on delivering high-performance, low-maintenance exterior building solutions. This is backed by a strong financial performance in North America, the company's main geography, which generated about 80% of group earnings. Over the past five years, the North American business has achieved a top-line growth rate, or CAGR, of +10%, demonstrating sustained market traction for these solutions.

Customers value the superior durability, non-combustibility, and resistance to water/termites inherent in the fiber cement core. For peace of mind, all Hardie® fiber cement siding products come with a 30-year non-prorated limited substrate warranty. This addresses the long-term need, especially since about half of all US houses are 40 years or older, meaning a steady pipeline of homes requires siding replacement.

Aesthetic appeal is delivered through premium color options, notably the ColorPlus® Technology finishes. These factory-applied finishes come with a limited warranty that covers paint and labor for up to 15 years against peeling, cracking, and chipping. For 2025, the company highlighted Evening Blue as its Color of the Year, part of the Statement Collection® line.

James Hardie Industries plc offers a comprehensive product portfolio, which has expanded following the 2025 acquisition of AZEK, adding wooden composite decking materials, siding trims, and accessories to the core fiber cement offering. For FY25, the company reported total Adjusted EBITDA of $1.1 billion and GAAP Operating Income of $656 million. In North America, James Hardie holds an estimated 90% market share in the fiber cement category.

This translates directly into long-term value and weather resistance for homeowners and builders. The Repair & Remodel market, which is viewed as less cyclical, accounts for about two-thirds of North American EBIT, with homes typically needing new siding every 40 years. The company's North America EBIT margin for FY25 was reported at 29.4%.

Here's a snapshot of key financial and market metrics underpinning these value propositions:

Metric	Value/Amount	Context/Period
North America Market Share (Fiber Cement)	90%	Estimate in main geography
North America Business Contribution to Group Earnings	About 80%	FY25
FY25 Adjusted EBITDA	$1.1 billion	Full Year 2025
ColorPlus® Technology Finish Warranty	Up to 15 years	Paint and labor coverage
Substrate Limited Warranty	30 years	Non-prorated
North America 5-Year Sales CAGR	+10%	Demonstrating momentum

You can see the value proposition is supported by strong market dominance and long-term product guarantees. The company is executing on a strategy that aims for continued outperformance, with plans for FY26 North America Sales Growth and EBITDA Margin Expansion.

• High-performance core material.
• Factory-applied finish with a 15-year paint/labor warranty.
• Substrate protected by a 30-year non-prorated warranty.
• North America EBIT Margin of 29.4% in FY25.
• Product portfolio now includes composite decking post-AZEK acquisition in 2025.

Finance: draft 13-week cash view by Friday.

James Hardie Industries plc (JHX) - Canvas Business Model: Customer Relationships

Dedicated direct sales teams for residential and commercial construction.

James Hardie Industries plc cultivates strong relationships with large builders, a strategy that drove double-digit growth in single-family home construction during the December quarter of FY24. The company has also secured multi-year, national hard siding and trim exclusivity agreements with builders including Meritage Homes, M/I Homes, and David Weekley Homes. The North American business has grown its top line at a +10% CAGR over the past five years. The North American segment is critical, contributing approximately 80% of group operating income. About two-thirds of North American EBIT comes from the repair and renovation (R&R) market.

Here are some key figures related to the North American segment performance and volume:

Metric	Value (Latest Available FY25 Data)
FY25 North America Volume Expectation (Standard Feet)	At least 2.95 billion
Q3 FY25 North American Volumes Shipped (Standard Feet)	744 million
Updated FY25 Siding and Trim Net Sales Forecast (USD)	$2.925 billion to $2.995 billion
FY25 GAAP Operating Income (Global)	$656 million
FY25 Adjusted EBITDA (Global)	$1.1 billion

Co-Creation strategy: Partnering with contractors and delighting homeowners.

The company executes a dual approach, complementing contractor relationships by actively influencing homeowner demand. The James Hardie™ ALLIANCE program is a collaboration designed to help residential contractors succeed by providing business support and connecting them to homeowners. Eligible members gain access to benefits including:

• Personalized membership accounts.
• Comprehensive training courses.
• Industry-leading marketing resources.
• Exclusive discounts on tools and services.
• Opportunity to earn and redeem Hardie™ Rewards Points.

Contractors advancing to the top three tiers of the ALLIANCE receive a tier logo to convey credibility, access to direct homeowner referrals from James Hardie Industries, and advanced marketing support. The company is executing on its strategy to outperform end-markets by partnering with customers and contractors while delighting homeowners with resilient and beautiful products. James Hardie Industries is aiming to grow its North American presence to approximately 25 million homes with its products by 2035, up from over 11 million homes over the past two decades.

On-site technical advisory and personalized product specification support.

The James Hardie™ ALLIANCE program provides tiered support that includes access to specialized resources. At the top participation levels, contractors receive one-on-one business planning with local James Hardie representatives. The program also offers advanced training opportunities for contractors who opt into higher-level participation, such as the HardieRewards Plus level, which requires a fee of $495 for entry.

Direct-to-consumer marketing to influence homeowner demand and brand preference.

James Hardie Industries has shifted its market approach to directly engage homeowners, a pivot significantly amplified by the 2021 launch of its 'It's Possible' campaign. This strategy aims to build brand recognition and preference among homeowners, complementing its existing professional channels. While specific James Hardie Industries direct marketing spend for 2025 isn't explicitly stated, general industry trends show marketing budgets representing 9.4% of company revenues in 2025, with digital marketing spending forecast to rise 11.9% by 2026. The company highlights its products' low-maintenance and durability benefits in this consumer-facing marketing.

James Hardie Industries plc (JHX) - Canvas Business Model: Channels

The distribution and sales structure for James Hardie Industries plc relies on a multi-pronged approach to ensure product availability across various customer types, from individual contractors to large-scale developers.

Extensive wholesale distribution network for broad product availability.

James Hardie Industries plc maintains a broad network to push product through the construction supply chain. This is critical for maintaining market presence, especially in the face of volume challenges, as seen in the first quarter of fiscal year 2026 where North American sales volumes declined by 12% year-over-year. The company's FY2025 Net Sales reached $3.9 billion, demonstrating the scale supported by this network.

The North America Fiber Cement segment, the company's largest, targets sales in the United States and Canada. For the full fiscal year 2025, the volume guidance for this segment was set between 2,950 million and 3,150 million standard feet.

The recent transformative acquisition of AZEK in fiscal year 2026 is expected to significantly alter channel dynamics by doubling the total addressable market and creating two new North America-focused reporting segments, which will inherently impact the existing wholesale structure.

Key national home improvement retailers (The Home Depot, Lowe's).

While specific revenue breakdowns by retailer are not public, James Hardie Industries plc relies on major national home improvement retailers to serve the smaller contractor and do-it-yourself segments. The overall financial performance reflects the success of these channels, with the company reporting an Adjusted EBITDA of $1.1 billion for fiscal year 2025.

The Q1 FY2026 results, showing global net sales of $900 million, reflect the current environment where channel inventory management is a factor, as the company noted customers destocked inventory in April through May of 2025.

Direct sales force targeting large residential and commercial builders.

A dedicated direct sales force is employed to secure large-volume contracts with major builders. This is supported by strategic focus areas, such as the investment in a 'high value product sales force' in Europe, which contributed to higher employee costs impacting the EBIT margin in that region during FY2025. This direct engagement is key to capturing the material conversion opportunity the company targets.

Digital platforms, including the company website and distributor portals.

Digital channels support the sales process through the company website and specific portals for distributors. The focus on digital infrastructure is also evident in the company's stated commitment to a comprehensive cybersecurity program aligned with the National Institute for Standards and Technology Cybersecurity Framework, as detailed in the FY2025 Annual Report. No specific revenue contribution percentage for digital channels is reported.

Here's a quick look at the top-line financial performance underpinning channel activity:

Metric	FY 2025 Amount	Q1 FY 2026 Amount
Net Sales (Global)	$3.9 billion	$900 million
Adjusted EBITDA	$1.1 billion	$226 million
North America Net Sales Change (YoY)	Not Specified	Down 12%

The company's strategy involves leveraging its expanded offering post-acquisition to strengthen customer value propositions across all channels.

• Partnering with customers and contractors.
• Delivering products that are resilient and beautiful.
• Accelerating growth strategy post-AZEK integration.
• Targeting synergy realization of at least $500 million over five years from the AZEK acquisition.

James Hardie Industries plc (JHX) - Canvas Business Model: Customer Segments

You're looking at the core customer base for James Hardie Industries plc as of late 2025, right after the expected closing of the AZEK acquisition in the second half of the year. This is a company that clearly prioritizes North America, which is responsible for about 80% of group earnings. The customer segments are quite distinct in terms of volume and profitability, so let's break down the numbers we have from the latest reports, focusing on the Q2 FY26 results ending September 30, 2025.

The North American business, where James Hardie Industries plc holds an estimated 90% market share in the fiber cement category, is split between new builds and fixing up existing homes. For context, the full fiscal year 2025 (ending March 31, 2025) saw GAAP Operating Income of $656 million and Adjusted EBITDA of $1.1 billion.

Here is how the segments generally break down based on North American EBIT contribution:

Customer Segment Focus	Relative Contribution to North American EBIT	Latest Performance Context (Q2 FY26)
Residential Repair & Remodel (R&R) Contractors	Approximately two-thirds	Sustained performance in the outdoor living division (including decking/rail from the AZEK integration) contributed to a 34 per cent year-on-year net sales increase to $US1.29 billion for the quarter.
Residential Home Builders (New Construction)	Approximately one-third	The North American siding and trim segment faces utilization rate challenges, contributing to an 84 per cent drop in operating income to $US24 million for the quarter, despite higher sales volume expectations for the full year.

The Repair & Remodel (R&R) market is viewed as less cyclical, supported by the fact that about half of all US houses are 40 years or older, suggesting a steady pipeline of replacement work. James Hardie Industries plc is actively investing to capture this R&R opportunity by growing its contractor base.

Regarding the other key groups in the value chain, the company's strategy involves direct engagement and brand influence:

• Dealers and independent building material suppliers: These are the primary distribution channel partners. The company is focused on leveraging its value proposition to sustain its leading position.
• Homeowners (as the primary demand influencers): James Hardie Industries plc is focused on 'delighting homeowners' with resilient and beautiful products and is 'influencing how homeowners build' through strategies like Co-Creation.
• Commercial Construction Companies: While James Hardie Industries plc specializes in fiber cement for residential and commercial construction, specific financial breakdowns for the commercial segment are not explicitly detailed separately from the new construction/R&R split in the latest available data.

The Asia Pacific (Australia/New Zealand) market, which makes up the remainder of earnings, saw a revenue decrease of 10 per cent to $US133 million in Q2 FY26, but operating income increased to $US38 million due to manufacturing efficiencies. The overall outlook for the combined entity projects total Adjusted EBITDA between $US1.2 billion and $US1.25 billion for the full fiscal year 2026.

Finance: draft a sensitivity analysis on the impact of a 10 per cent drop in Australia/New Zealand revenue on consolidated Adjusted EBITDA by next Tuesday.

James Hardie Industries plc (JHX) - Canvas Business Model: Cost Structure

You're looking at the cost side of the James Hardie Industries plc engine, which is heavily weighted toward manufacturing and getting the product to the job site. Honestly, managing these inputs is what separates the good quarters from the great ones, especially when market demand is choppy.

High cost of raw materials, particularly pulp, cement, and energy.

The cost of getting the basic ingredients is a major lever. For the fiscal year 2025, James Hardie Industries plc saw its gross margin pressured by rising input costs. Specifically, higher pulp and cement costs were cited as drivers reducing EBIT margin, even with HOS savings helping out. In the European segment during a quarter ending in early 2025, higher energy and raw material costs were noted as impacting EBIT margin.

• Higher pulp and cement costs directly impacted Gross Margin in FY2025.
• Higher energy costs were a factor in the European segment's cost structure.

Manufacturing and production costs, including labor and depreciation.

Production involves significant fixed and variable costs. Labor is a key component here, and rising employee costs have been a recurring theme affecting margins. For instance, in the fourth quarter of fiscal year 2025, the Depreciation & Amortization Expense was $45 million for that quarter alone, representing a +32% increase year-over-year in that specific period. Unfavorable production cost absorption, often linked to lower volumes, also ate into profitability during FY2025.

Selling, General, and Administrative (SG&A) expenses, including sales force investment.

SG&A expenses reflect the investment James Hardie Industries plc makes in selling and running the business. This area saw increases driven by strategic hiring. For the full fiscal year 2025, SG&A expenses increased 2%, primarily due to higher employee costs and project costs related to business transformation initiatives, though this was partially offset by lower marketing spend. To be fair, earlier in the fiscal year (Q1 FY25), SG&A had jumped 23% due to investment in the sales team to drive strategic growth in high-value products.

Here's a quick look at the reported SG&A movements:

Reporting Period	SG&A Change	Primary Driver Mentioned
FY2025 (Full Year)	Increased 2%	Higher employee costs, partially offset by lower marketing spend
Q1 FY2025	Increased 23%	Higher employee costs based on sales force investment
Q3 FY2025 (ending Dec 31, 2024)	Increased 3%	Higher employee costs and project costs

Capital expenditures (CapEx) for FY2025 were guided at $500 million to $550 million.

James Hardie Industries plc planned a substantial investment year for capacity. The initial guidance for total Capital Expenditures for the full fiscal year 2025 was set in the range of $500 million to $550 million. The actual reported Capital Expenditures for the full fiscal year 2025 came in at $422 million. Of that total, the Company invested $165 million specifically related to capacity expansion projects, which included bringing the Prattville, Alabama facility Sheet Machine 3 online in September 2025.

Costs associated with the Hardie Operating System (HOS) implementation.

The Hardie Operating System, or HOS, is designed to drive efficiencies and savings across operations. These savings acted as a crucial offset to inflationary pressures in FY2025. HOS savings were specifically noted as partially offsetting the negative impact of higher pulp and cement costs on the EBIT margin across multiple segments during the fiscal year. Sustainability strategies were also integrated into the Hardie Manufacturing Operating System (HMOS) to prioritize operational impact.

• HOS savings helped underpin segment profitability.
• HOS savings partially offset higher pulp and cement costs in North America.
• Sustainability strategies are integrated into the Hardie Manufacturing Operating System (HMOS).

Finance: draft 13-week cash view by Friday.

James Hardie Industries plc (JHX) - Canvas Business Model: Revenue Streams

You're looking at the core ways James Hardie Industries plc brings in money, which is almost entirely through selling its specialized building products across its main operating segments as of late 2025. The revenue streams are heavily weighted toward North America, which is the engine room for the company's profitability.

The total revenue for Fiscal Year 2025 for James Hardie Industries plc was reported as $3.88 billion.

The primary revenue drivers are segmented geographically, reflecting where the products are sold and manufactured. You see a clear hierarchy in terms of contribution, with North America being the dominant force.

Here is a breakdown of the key revenue components based on the latest available full-year figures:

Revenue Stream Segment	FY2025 Reported/Required Amount
Sales of North America Fiber Cement products	$2.86 billion
Sales from the Asia Pacific Fiber Cement segment	Data not explicitly isolated for FY2025 total
Revenue from Europe Building Products segment (fiber gypsum and cement-bonded boards)	Data not explicitly isolated for FY2025 total
FY2025 Total Annual Revenue	$3.88 billion

The North America Fiber Cement segment is the largest, representing the bulk of the total, as instructed, at $2.86 billion for the year. This region focuses on exterior siding and trim, primarily for the residential construction market.

Revenue generation in the other key areas includes:

• Sales from the Asia Pacific Fiber Cement segment.
• Revenue from the Europe Building Products segment, which includes the fermacell brand for fiber gypsum and cement-bonded boards used in both residential and commercial applications.

A significant factor supporting the top line across all regions in FY2025 was the realization of revenue from price increases. This pricing power helped offset challenging volume environments in certain markets.

Specifically, revenue from price increases benefited sales throughout FY2025. For instance, in the fourth quarter of FY2025, the Europe segment saw net sales increase +8% in Euros, which included a +7% higher average net sales price, driven by price increases implemented earlier in the fiscal year. Similarly, the Asia Pacific segment also saw a higher average net sales price partially offsetting volume declines in the latter half of the year.

To be fair, while the North America number is set at $2.86 billion, the remaining $1.02 billion (Total Revenue of $3.88B minus $2.86B) is split between Asia Pacific and Europe. The company's strategy relies on driving higher average selling prices to maintain revenue stability when volumes are pressured.

Finance: draft reconciliation of FY2025 segment revenue to total revenue by next Tuesday.