Added to YB: 2025-08-13
Pitch date: 2025-08-11
JMAT.L [bullish]
Johnson Matthey Plc
+16.8%
current return
Author Info
Company Info
Johnson Matthey Plc engages in the clean air, catalyst and hydrogen technology, and platinum group metals (PGM) service businesses in the United Kingdom, Germany, rest of Europe, the United States, rest of North America, China, rest of Asia, and internationally.
Market Cap
GBP 3.0B
Pitch Price
GBP 17.55
Price Target
N/A
Dividend
4.34%
EV/EBITDA
7.19
P/E
8.40
EV/Sales
0.32
Sector
Chemicals
Category
special_situation
Johnson Matthey: Turning a Melting Ice Cube into a Cash-Flow Machine.
JMAT.L: UK-based PGM refiner trading at 5x P/EBIT. Selling Catalyst Tech to Honeywell for £1.8B (54% of mkt cap), returning £1.4B to shareholders. New refinery by 2027 to boost efficiency. Clean Air margins improving from 11.8% to 16-18%. FCF target £250M (17% yield) by 2028. Risks: auto market weakness, deal approval, client concentration.
Read full article (16 min)