James Hardie Industries plc (JHX) is overvalued and United States Lime & Minerals Inc (USLM) is fairly valued.
Against our estimates of intrinsic value, USLM trades at the wider discount: a margin of safety of +3%, against -304% for JHX.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 11.1% (average of 3 methods) values the shares at $6.76; the price of $27.34 is 304% above that value, and 70% of that value comes from beyond year five.
Leak Score 0/100 on 3 of 12 signals
Discounting its cash flows at 8.8% (average of 3 methods) values the shares at $117.56; the price of $113.78 is 3% below that value, and 78% of that value comes from beyond year five.
Leak Score 44/100 on 2 of 12 signals
| Metric | JHX | USLM |
|---|---|---|
| Verdict | Overvalued | Fairly valued |
| Price | $27.34 | $113.78 |
| Intrinsic value | $6.76 | $117.56 |
| Margin of safety | -304% | +3% |
| Leak Score | 0/100 (3/12) | 44/100 (2/12) |
| Market cap | $15.9B | $3.3B |
| Revenue growth, 5 years | 10.7% | 18.3% |
| Operating margin | 13.7% | 42.1% |
| Net margin | 2.7% | 35.7% |
| Return on equity | 3.3% | 21.4% |
| Debt to equity | 0.69 | 0.00 |
| P/E | 110.1x | 24.3x |
| Forward P/E | 17.4x | 20.0x |
| P/B | 2.4x | 4.7x |
| Dividend yield | — | 0.2% |