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Janus Henderson Group (JHG) investor relations material
Janus Henderson Group Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary30 Oct, 2025
Executive summary
Achieved sixth consecutive quarter of positive net inflows, with Q3 2025 net inflows of $7.8 billion and AUM reaching a record $483.8 billion, up 27–28% year-over-year and 6% quarter-over-quarter.
Adjusted diluted EPS was $1.09, up 20–21% year-over-year, and adjusted operating margin rose to 36.9%.
74% of AUM outperformed benchmarks over three years, with strong long-term investment performance.
Board is reviewing a non-binding acquisition proposal from Trian and General Catalyst; a special committee has been formed to evaluate it.
Strategic initiatives, including new fund launches, partnerships, and platform transitions, contributed to growth and diversification.
Financial highlights
Q3 2025 revenue was $700.4 million, up 12% year-over-year, mainly from higher management and performance fees.
Adjusted operating income was $204.5 million, up 20% year-over-year; GAAP operating income was $172.0 million.
Net income attributable to shareholders was $142.1 million, up 421% year-over-year.
Adjusted operating expenses increased 6% to $350 million, mainly due to higher compensation and strategic investments.
Dividend of $0.40 per share declared; $129 million returned to shareholders via dividends and buybacks in Q3 2025.
Outlook and guidance
2025 adjusted compensation ratio guidance remains at 43–44%; non-compensation expense growth expected in high single digits.
Projected tax rate on adjusted net income for 2025 is 23–25%.
Aladdin platform transition to increase costs by ~1% in 2026 and 2027, with efficiencies expected from 2028 onward.
2026 guidance to be provided on the full-year call.
Management remains focused on executing strategic objectives amid ongoing market volatility and uncertainty.
Update on Trian/General Catalyst proposal?
Impact of Aladdin platform transition?
Drivers of divergent AUM flows by capability?
Trian offer: impact on capital allocation?
How is the firm prioritizing growth investments?
Aladdin transition: expected 2028 benefits?
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Next Janus Henderson Group earnings date
Q4 202530 Jan, 2026
Next Janus Henderson Group earnings date
Q4 202530 Jan, 2026
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