At a glance
Jack Henry & Associates Inc is worth $11.46B, about 23 times its fiscal 2026 earnings. Revenue grew 7.1% to $2.54B in fiscal 2026, with 19.8% kept as profit; over 5 years it has grown 7.7% a year. It pays a 1.47% dividend yield, raised every year for at least 9 years, and returned $1.51B to shareholders in dividends and buybacks over FY2022–FY2026. The stock returned +11.4% over the past year with dividends reinvested and +1.9% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 25.5% in the 2020 crash (S&P 500: 33.7%) and 15.6% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 1 month after the low.
The business in plain English
Jack Henry & Associates sells technology to community and regional banks and credit unions. Founded in 1976, it serves over 7,200 financial institutions and other businesses. At the center is core processing: the software that keeps a bank's records of accounts, deposits and loans. Over 900 banks and over 700 credit unions run on its core systems. It also sells add-on tools for payments, security, online and mobile banking and imaging to about 5,600 clients that do not use its core, including banks and credit unions on other core systems.
Most revenue is recurring. Hosted clients, whose systems run in Jack Henry's private or public cloud, usually sign six-year contracts, and electronic payment contracts generally run six years too. Clients running the software on their own computers, called on-premise, usually sign one-year contracts. License fees and hardware resales are smaller and less predictable. In the fiscal year ended June 30, 2026, revenue was $2.54 billion: processing made up 43.1%, cloud services 32.1%, on-premise support 13.2% and product delivery and services 11.6%.
By segment, Payments was the largest at 36.8% of revenue, followed by Core at 30.2%, Complementary at 29.6% and Corporate Services at 3.4%. The company is building the Jack Henry Platform, a public cloud system meant to become a modern alternative to its existing core software.
Price history
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JKHY +11.4% over the year to Nov 2, 2026, total return with dividends reinvested.
How it makes money
By product or service
| Processing | $1.10B | 43.1% |
| Private and Public Cloud | $816.1M | 32.1% |
| On-Premise Support | $336.8M | 13.2% |
| Product Delivery and Service | $295.1M | 11.6% |
By business segment
| Payments | $936.0M | 36.8% |
| Core Segment | $768.5M | 30.2% |
| Complementary | $752.2M | 29.6% |
| Corporate Services | $87.7M | 3.4% |
Latest results
- In Q4 FY2026 (ended Jun 30, 2026), revenue was $644.0M, up 4.7% from a year earlier, and net income was $111.2M (-12.8%).
- For fiscal 2026, revenue was $2.54B (+7.1% year over year; +7.7% a year from FY2021 to FY2026) with a 19.8% net margin.
Financial health check
| Revenue growth a year (FY2021–FY2026) | +7.7% good |
|---|---|
| Operating margin | 25% good |
| Free cash flow margin | 27.3% good |
| Return on equity (FY2026) | 24.5% good |
| Return on assets (FY2026) | 16% good |
| Net cash (cash minus debt) | $-27.9M weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $1.76B | $311.5M | $439.1M |
| FY2022 | $1.94B | $362.9M | $470.0M |
| FY2023 | $2.08B | $366.6M | $342.4M |
| FY2024 | $2.22B | $381.8M | $509.9M |
| FY2025 | $2.38B | $455.7M | $588.1M |
| FY2026 | $2.54B | $502.8M | $694.9M |
Valuation snapshot
| Market value | $11.46B |
|---|---|
| P/E ratio | 23.4 |
| Dividend yield | 1.47% |
Rank among 1514 US companies
Market value at each year end
Jack Henry & Associates’s market value went from $6.93B at the end of 2016 to $11.46B on Nov 2, 2026, up 65%; since the end of 2025 it is down 13%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $11.46B | -13.2% |
| 2025 | $13.21B | +3.3% |
| 2024 | $12.79B | +7.5% |
| 2023 | $11.90B | -7.1% |
| 2022 | $12.81B | +3.6% |
| 2021 | $12.36B | +0.0% |
| 2020 | $12.36B | +10.3% |
| 2019 | $11.21B | +14.6% |
| 2018 | $9.78B | +8.3% |
| 2017 | $9.03B | +30.3% |
| 2016 | $6.93B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| JKHY price data to Nov 2, 2026 | -9.4% | +11.4% | +6.4% | +1.9% | +8.7% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -9.4% |
| 2025 | +5.5% |
| 2024 | +9.0% |
| 2023 | -5.7% |
| 2022 | +6.2% |
| 2021 | +4.3% |
| 2020 | +12.4% |
| 2019 | +16.4% |
| 2018 | +9.4% |
| 2017 | +33.3% |
| 2016 | +15.2% |
| 2015 | +27.5% |
| 2014 | +6.5% |
| 2013 | +53.0% |
| 2012 | +18.4% |
| 2011 | +16.9% |
| 2010 | +28.0% |
| 2009 | +21.4% |
| 2008 | -19.0% |
| 2007 | +14.9% |
| 2006 | +13.3% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 47.2% over that stretch · deepest drop along the way 49.7%, back to its old high 19.9 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 25.2% over that stretch · deepest drop along the way 25.5%, back to its old high 1.4 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Gained 6.6% over that stretch · deepest drop along the way 15.6%, back to its old high 1.4 months after the low |
Insider activity
Form 4 filings from 2025-10-31 to 2026-10-31 (25 read): 2 open-market purchases ($317K) and 1 sales ($3.5M).
| Date | Insider | Type | Value |
|---|---|---|---|
| Dec 1, 2025 | David B Foss Director | sell | $3.5M |
| May 14, 2026 | Gregory R. Adelson President & CEO, Director | buy | $267K |
| May 14, 2026 | Mimi Carsley CFO and Treasurer | buy | $50K |
Who owns it
Large shareholders (13G filings)
| Kayne Anderson Rudnick Investment Management, LLC | 8.1% | Dec 31, 2025 |
| Vanguard Capital Management | 7.47% | Mar 31, 2026 |
| BlackRock, Inc. | 6.8% | Jun 30, 2026 |
| Vanguard Portfolio Management | 4.93% | Sep 30, 2026 |
| APG Asset Management US Inc. | 3.3% | Dec 31, 2024 |
| Morgan Stanley | 2.7% | Sep 30, 2025 |
ETFs with the most weight in JKHY
| FINX Global X FinTech ETF | 3.39% |
| KONG Formidable Fortress ETF | 3.34% |
| TDV ProShares S&P Technology Dividend Aristocrats ETF | 2.95% |
| GFGF Guru Favorite Stocks ETF | 2.32% |
| SMCO Hilton Small-MidCap Opportunity ETF | 1.98% |
| RSPF Invesco S&P 500 Equal Weight Financials ETF | 1.43% |
| QMID WisdomTree U.S. MidCap Quality Growth Fund | 1.33% |
| HUSV First Trust Horizon Managed Volatility Domestic ETF | 1.33% |
What could go wrong
- Fewer banks and credit unions to serve. Mergers keep shrinking the client pool. The number of banks fell 13% and credit unions 16% from the end of 2020 to the end of 2025. Each merger or failure can cost a client.
- Cyberattacks on sensitive banking data. Jack Henry handles sensitive data for banks and their customers. It has had cybersecurity incidents before, and AI is helping attackers find weaknesses faster. A breach could bring legal claims and lost trust.
- Outages at its hosting and processing centers. Banks and credit unions on its cloud services depend on Jack Henry's systems to operate. A technology or facility failure could lead to damage claims, more regulatory scrutiny and lost clients.
- Payment errors can cost money directly. Payments is its largest segment, at 36.8% of FY2026 revenue. Failures in processing payment transactions could cause direct financial losses for Jack Henry, not just unhappy clients.
- Contract renewals may come on worse terms. Much revenue comes from multi-year contracts, often six years long. If clients push for lower prices at renewal or switch to a rival, revenue could fall.
- Falling behind on fast-changing technology. Jack Henry competes in fast-changing markets and is building a public cloud alternative to its core software. If its products fall behind rivals', it could lose clients and struggle to win new ones.
Recent events
- Quarterly results released
- Executive or board change
- Quarterly results released
- Executive or board change; Investor presentation or announcement
- Other company announcement
- Quarterly results released
- Major agreement signed; Major agreement ended; New debt or financial obligation
- Quarterly results released
- Executive or board change; Shareholder vote results
- Quarterly results released
For income and retirement investors
Jack Henry has raised its dividend at least nine years in a row through FY2026, and the streak may be longer. Dividends per share rose from $1.78 in FY2021 to $2.38 in FY2026, about 6% a year. In FY2026 they used 33.9% of earnings and 24.5% of free cash flow (cash left after running and investing in the business). The yield was 1.52% as of October 28, 2026, which is modest for people who rely on dividend income. Buybacks totaled $730 million over FY2022–FY2026, including $448 million in FY2026, and the share count fell 5.3% from August 2021 to August 2026.
In the 2008 financial crisis the shares fell 49.7% and took about 20 months to recover. In the 2020 COVID crash they fell 25.5% but recovered in about six weeks. From the market's January 2022 peak to its October 2022 low, they rose 6.6%, despite a 15.6% dip along the way. A single stock carries more risk than a diversified fund.
Questions investors ask
How does Jack Henry make money?
Jack Henry makes money by selling software and services to banks and credit unions, mostly under recurring contracts. In the fiscal year ended June 30, 2026, revenue was $2.54 billion. Processing made up 43.1%, private and public cloud services 32.1%, on-premise support 13.2%, and product delivery and services 11.6%. By segment, Payments was the largest at 36.8% of revenue, ahead of Core at 30.2% and Complementary at 29.6%.
Does Jack Henry raise its dividend every year?
Yes. Jack Henry has raised its dividend at least nine fiscal years in a row through FY2026, and the true streak may be longer. Dividends per share rose from $1.78 in FY2021 to $2.38 in FY2026, about 6% a year. The FY2026 dividend used 33.9% of earnings and 24.5% of free cash flow, which leaves a cushion. The yield was 1.52% as of October 28, 2026.
How many banks and credit unions use Jack Henry?
Over 900 banks and over 700 credit unions run on a Jack Henry core system, the software that keeps their account records. In all, the company serves over 7,200 financial institutions and other businesses, including about 5,600 that do not use its core. Its core bank clients range from brand-new banks to those with up to $55 billion in assets. For scale, there were about 4,300 banks in that size range and about 4,400 credit unions as of December 31, 2025.
How has Jack Henry stock performed?
The shares have gained over 10 years but have been nearly flat over five. As of October 28, 2026, the price return was 8.4% a year over 10 years, or 123% in total, but just 0.6% a year over five years. From the start of 2026 to October 28, the shares fell 12.3%, and in the 12 months to that date they dropped as much as 35.4% from peak to low. They traded at 22.7 times FY2026 earnings.
Does Jack Henry have a lot of debt?
No, its borrowing is small. As of June 30, 2026, Jack Henry reported $40 million of total debt against $12 million of cash and investments, leaving net debt of about $28 million. Shareholders' equity was about $2.05 billion and total assets about $3.15 billion. For scale, the company produced $695 million of free cash flow in FY2026, many times its debt. Its annual report still lists higher interest rates as a risk that could raise borrowing costs.