Jack Henry & Associates
JKHYNASDAQUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $175.19 Prior regular-session close from the quote source.
- $171.75–$177.15 Regular-session low and high so far today.
- 690.2K Regular-session shares traded · Nov 11, 4:00 PM ET.
- Feb 2 projected Projected for 2027-02-02 from the company’s own results filings (SEC 8-K Item 2.02). The company has not confirmed the date.
- $121.04–$193.39 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own JKHY if those advantages keep producing growth and margin resilience beyond what the current valuation already assumes.
JKHY price history
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Investment thesis
What must happen next
Jack Henry’s mission-critical role in core bank technology keeps customers from switching easily, so modernization budgets continue to convert into durable demand rather than one-time project revenue.StrengtheningMateriality: High
GAAP annual revenue increased from $1.758 billion in FY2021 to $2.375 billion in FY2025. If this holds, revenue can compound steadily with lower cyclicality; if it breaks, the business becomes a replaceable software vendor with weaker growth and pricing power.
Watch: Fiserv or FIS begins winning a visible wave of core conversions from Jack Henry bank or credit-union customers.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual revenue increased from $1.758 billion in FY2021 to $2.375 billion in FY2025.
Open source ↗The integrated software-and-processing model can scale without proportional cost growth, so incremental bank-technology demand should translate into operating leverage when implementation and cloud costs are controlled.StrengtheningMateriality: High
GAAP annual operating income rose from $489.4 million in FY2024 to $568.7 million in FY2025. Margin expansion turns moderate revenue growth into stronger earnings growth; margin pressure would make the stock far more dependent on accelerating sales.
Watch: Competitors such as FIS, Fiserv, or cloud-native vendors force price concessions in core, payments, or digital banking renewals.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual operating income rose from $489.4 million in FY2024 to $568.7 million in FY2025.
Open source ↗The business model converts accounting earnings into cash, giving Jack Henry capacity to fund product investment, dividends, buybacks, or acquisitions without relying heavily on balance-sheet leverage.StrengtheningMateriality: Medium
GAAP annual operating cash flow was $641.5 million in FY2025 versus GAAP net income of $455.7 million. Strong cash conversion makes per-share compounding more durable; weak conversion would limit reinvestment and reduce the quality of earnings.
Watch: Large implementation obligations, customer financing, or contract-timing changes consume working capital and weaken cash conversion.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual operating cash flow was $641.5 million in FY2025 versus GAAP net income of $455.7 million.
Open source ↗A relatively conservative balance sheet gives Jack Henry flexibility to keep investing through bank-tech cycles rather than cutting product development when customers delay decisions.StrengtheningMateriality: Medium
Total liabilities declined from $1.082 billion at FY2024 year-end to $913.1 million at FY2025 year-end. Balance-sheet flexibility protects the competitive position in downturns; excessive leverage would make the business more vulnerable to cyclical bank spending or integration shocks.
Watch: A large acquisition or buyback program materially increases leverage before acquired revenue durability is proven.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Total liabilities declined from $1.082 billion at FY2024 year-end to $913.1 million at FY2025 year-end.
Open source ↗Demand depends on community and regional financial institutions remaining healthy enough to invest in technology rather than merely preserving capital.StrengtheningMateriality: Medium
GAAP annual revenue continued to grow in FY2025, rising to $2.375 billion from $2.216 billion in FY2024. If customer budgets stay healthy, Jack Henry can continue monetizing modernization; if bank stress rises, sales cycles lengthen and growth quality weakens.
Watch: A regional-bank credit cycle or deposit-pressure event causes customers to defer core conversions and digital-banking projects.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual revenue continued to grow in FY2025, rising to $2.375 billion from $2.216 billion in FY2024.
Open source ↗
Full investment case & evidence
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Original research
Jack Henry’s mission-critical role in core bank technology keeps customers from switching easily, so modernization budgets continue to convert into durable demand rather than one-time project revenue. If this holds, revenue can compound steadily with lower cyclicality; if it breaks, the business becomes a replaceable software vendor with weaker growth and pricing power.
The integrated software-and-processing model can scale without proportional cost growth, so incremental bank-technology demand should translate into operating leverage when implementation and cloud costs are controlled. Margin expansion turns moderate revenue growth into stronger earnings growth; margin pressure would make the stock far more dependent on accelerating sales.
The business model converts accounting earnings into cash, giving Jack Henry capacity to fund product investment, dividends, buybacks, or acquisitions without relying heavily on balance-sheet leverage. Strong cash conversion makes per-share compounding more durable; weak conversion would limit reinvestment and reduce the quality of earnings.
A relatively conservative balance sheet gives Jack Henry flexibility to keep investing through bank-tech cycles rather than cutting product development when customers delay decisions. Balance-sheet flexibility protects the competitive position in downturns; excessive leverage would make the business more vulnerable to cyclical bank spending or integration shocks.
Demand depends on community and regional financial institutions remaining healthy enough to invest in technology rather than merely preserving capital. If customer budgets stay healthy, Jack Henry can continue monetizing modernization; if bank stress rises, sales cycles lengthen and growth quality weakens.
All standing thesis claims
Original report summary
those advantages keep producing growth and margin resilience beyond what the current valuation already assumes.
Bull case and bear case
Bull case and bear case for Jack Henry & Associates
Where the evidence on Jack Henry & Associates stands: Strengthening on the latest evidence (Oct 18, 2026). Of its 5 thesis points, 5 strengthening.
Bull case: what the evidence supports
Jack Henry’s mission-critical role in core bank technology keeps customers from switching easily, so modernization budgets continue to convert into durable demand rather than one-time project revenue.
The integrated software-and-processing model can scale without proportional cost growth, so incremental bank-technology demand should translate into operating leverage when implementation and cloud costs are controlled.
The business model converts accounting earnings into cash, giving Jack Henry capacity to fund product investment, dividends, buybacks, or acquisitions without relying heavily on balance-sheet leverage.
A relatively conservative balance sheet gives Jack Henry flexibility to keep investing through bank-tech cycles rather than cutting product development when customers delay decisions.
Demand depends on community and regional financial institutions remaining healthy enough to invest in technology rather than merely preserving capital.
Bear case: what would count against it
Fiserv or FIS begins winning a visible wave of core conversions from Jack Henry bank or credit-union customers.
Competitors such as FIS, Fiserv, or cloud-native vendors force price concessions in core, payments, or digital banking renewals.
Large implementation obligations, customer financing, or contract-timing changes consume working capital and weaken cash conversion.
Thesis-Break Engine
Thesis-break watch · Jack Henry & Associates
No break has crossed Jack Henry & Associates’s thesis. Its break conditions are checked against every new filing as it lands.
MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedDirector or principal officer change.
Jack Henry & Associates filed an SEC 8-K on 2026-08-24: Director or principal officer change. It is a dated development that tests the current thesis.
- MixedReported results of operations (earnings release).
Jack Henry & Associates filed an SEC 8-K on 2026-08-18: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
- MixedReported results of operations (earnings release).
Jack Henry & Associates filed an SEC 8-K on 2026-08-11: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- Fiserv or FIS begins winning a visible wave of core conversions from Jack Henry bank or credit-union customers.
- Competitors such as FIS, Fiserv, or cloud-native vendors force price concessions in core, payments, or digital banking renewals.
- Large implementation obligations, customer financing, or contract-timing changes consume working capital and weaken cash conversion.
- A large acquisition or buyback program materially increases leverage before acquired revenue durability is proven.
- A regional-bank credit cycle or deposit-pressure event causes customers to defer core conversions and digital-banking projects.
JKHY news
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Financial statements
JKHY income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.
JKHY: quick answers
- When does Jack Henry & Associates (JKHY) report earnings next?
- Jack Henry & Associates's next results are projected for February 2, 2027, from the dates of its own results filings with the SEC. The company has not confirmed the date. It last reported on November 3, 2026. Earnings calendar
- What is JKHY's short interest?
- As of October 30, 2026, 4.7M JKHY shares were sold short, 6.72% of its shares outstanding, up 5.9% from the count before. At the stock's average daily volume that is 6.0 days to cover. FINRA publishes the count twice a month. JKHY short interest history
- Which well-known investors own JKHY?
- 1 of the 37 well-known funds tracked here reported JKHY shares in their latest 13F filing. By share of the fund's portfolio: Bridgewater Associates (Ray Dalio), 0.0%. Fund portfolios
JKHY in well-known investors’ portfolios
1 of 37 funds reported JKHY shares in their latest 13F filing. A 13F shows quarter-end positions and arrives up to 45 days later.
| Fund | Of its portfolio | Value | Change | Quarter |
|---|---|---|---|---|
| Ray DalioBridgewater Associates | 0.03% | $7.8M | New | Q2 2026 |