# Janus International Group, Inc. (JBI)

Informational only - not investment advice.

CIK: 0001839839
SIC: 3442 Metal Doors, Sash, Frames, Moldings & Trim
SIC breadcrumb: [Manufacturing](/division/D/) > [SIC Major Group 34](/major-group/34/) > [SIC 3442 Metal Doors, Sash, Frames, Moldings & Trim](/industry/3442/)
Latest 10-K filed: 2026-03-04
SEC page: https://www.sec.gov/edgar/browse/?CIK=1839839
Filing source: https://www.sec.gov/Archives/edgar/data/1839839/000183983926000006/jbi-20260103.htm

## At a glance

FY2025 · period end 2026-01-03 · filed 2026-03-04 · accession 0001839839-26-000006 · source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001839839.json

| Metric | Value | FY | Provenance |
| --- | ---: | ---: | --- |
| Revenue | 884,200,000 USD | 2025 | verified |
| Net income | 53,800,000 USD | 2025 | verified |
| Assets | 1,305,000,000 USD | 2025 | verified |
| Free cash flow | 114,000,000 USD | 2025 | computed |
| Net margin | 6.08% | 2025 | computed |
| Operating margin | 12.61% | 2025 | computed |
| Revenue YoY | -8.26% | 2025 | computed |
| ROE | 9.40% | 2025 | computed |

Computed values are grepcent-computed from the verified facts above and may differ from ratios the company itself reports. Free cash flow = operating cash flow − capital expenditures. Net margin = net income ÷ revenue. Operating margin = operating income ÷ revenue. Revenue YoY = FY2025 revenue ÷ FY2024 revenue − 1 (consecutive fiscal years only). ROE = net income ÷ period-end stockholders' equity.

No market price, no rating, no forecast on this site. Not investment advice.

### Peer percentile fingerprint

| Ratio | JBI | Peer median | Percentile | N |
| --- | ---: | ---: | ---: | ---: |
| Net margin | 6.1% | 6.1% | 50 | 35 |
| Operating margin | 12.6% | 9.3% | 61 | 32 |
| Revenue growth | -8.3% | 4.5% | 6 | 36 |
| FCF margin | 12.9% | 10.7% | 76 | 35 |
| ROE | 9.4% | 11.6% | 47 | 35 |
| ROA | 4.1% | 4.4% | 43 | 36 |
| Liabilities / equity | 1.28 | 0.89 | 71 | 35 |
| Current ratio | 3.54 | 2.59 | 69 | 36 |

Percentile = share of the N covered peers reporting that ratio whose value is lower (ties counted half); computed among grepcent-covered companies in SIC major-group 34 SIC Major Group 34, not the whole market. A higher percentile means a higher value of the ratio, not a better company. Ratios with fewer than 8 reporting peers are omitted. Latest reported values per company; fiscal periods may differ. Descriptive arithmetic - not a score, rating, or ranking.

## Selected Fundamentals
| Metric | Value | Unit | FY | Filed |
| --- | ---: | --- | ---: | --- |
| Revenue | 884200000 | USD | 2025 | 2026-03-04 |
| Net income | 53800000 | USD | 2025 | 2026-03-04 |
| Assets | 1305000000 | USD | 2025 | 2026-03-04 |

## Financials

Annual standardized facts from SEC companyfacts as of latest extracted filing date 2026-03-04. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001839839.json. Derived margins, ratios, and free cash flow are computed from the extracted annual SEC facts.

| Metric | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue |  | 548,973,000 | 750,100,000 | 1,019,500,000 | 1,066,400,000 | 963,800,000 | 884,200,000 |
| Net income |  | 56,837,000 | 43,800,000 | 107,700,000 | 135,700,000 | 70,400,000 | 53,800,000 |
| Operating income |  | 94,521,000 | 92,300,000 | 187,500,000 | 245,700,000 | 146,600,000 | 111,500,000 |
| Gross profit |  | 203,823,000 | 251,300,000 | 364,900,000 | 449,700,000 | 397,800,000 | 343,000,000 |
| Diluted EPS |  | 0.86 | 0.40 | 0.73 | 0.92 | 0.49 | 0.38 |
| Operating cash flow |  | 100,847,000 | 74,800,000 | 88,500,000 | 215,000,000 | 154,000,000 | 139,500,000 |
| Capital expenditures |  | 6,338,000 | 19,900,000 | 8,800,000 | 19,000,000 | 20,100,000 | 25,500,000 |
| Share buybacks |  |  |  | 0.00 | 0.00 | 78,800,000 | 15,900,000 |
| Assets |  | 873,480,000 | 1,122,002,000 | 1,270,600,000 | 1,350,000,000 | 1,301,300,000 | 1,305,000,000 |
| Liabilities |  | 732,606,000 | 853,715,000 | 895,300,000 | 830,400,000 | 782,500,000 | 732,500,000 |
| Stockholders' equity | 130,894,000 | 140,900,000 | 268,300,000 | 375,300,000 | 519,600,000 | 518,800,000 | 572,500,000 |
| Free cash flow |  | 94,509,000 | 54,900,000 | 79,700,000 | 196,000,000 | 133,900,000 | 114,000,000 |

### Ratios

ROE and ROA use period-end equity/assets. Liabilities / equity uses total liabilities divided by stockholders' equity. Current ratio uses current assets divided by current liabilities when both are reported.

| Metric | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Net margin |  | 10.35% | 5.84% | 10.56% | 12.73% | 7.30% | 6.08% |
| Operating margin |  | 17.22% | 12.31% | 18.39% | 23.04% | 15.21% | 12.61% |
| Return on equity |  | 40.34% | 16.33% | 28.70% | 26.12% | 13.57% | 9.40% |
| Return on assets |  | 6.51% | 3.90% | 8.48% | 10.05% | 5.41% | 4.12% |
| Liabilities / equity |  | 5.20 | 3.18 | 2.39 | 1.60 | 1.51 | 1.28 |
| Current ratio |  | 1.77 | 1.53 | 2.38 | 2.66 | 2.82 | 3.54 |

## As-reported value updates

No tracked differences above grepcent's stated thresholds and capped precision rule were found between the earliest XBRL-filed value and the value currently on file for the standardized annual metrics grepcent tracks.


## Quarterly

Quarterly standardized facts from SEC companyfacts as of latest extracted filing date 2026-08-11. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001839839.json.

Flow metrics use discrete quarter-length periods from 10-Q/10-Q/A filings. Q4 revenue and net income are derived only when annual FY and nine-month YTD facts exist for the same fiscal year; derived Q4 values are labeled. EPS Q4 is not derived.

| Quarter | End date | Revenue | Net income | Diluted EPS | Method |
| --- | --- | ---: | ---: | ---: | --- |
| 2022-Q3 | 2022-10-01 |  |  | 0.22 | reported discrete quarter |
| 2023-Q1 | 2023-04-01 |  |  | 0.18 | reported discrete quarter |
| 2023-Q2 | 2023-07-01 |  | 36,987,000 | 0.25 | reported discrete quarter |
| 2023-Q3 | 2023-09-30 | 280,100,000 | 37,000,000 | 0.25 | reported discrete quarter |
| 2023-Q4 | 2023-12-30 | 263,800,000 | 35,700,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2024-Q1 | 2024-03-30 | 254,500,000 | 30,700,000 | 0.21 | reported discrete quarter |
| 2024-Q2 | 2024-06-29 | 248,400,000 | 27,600,000 | 0.19 | reported discrete quarter |
| 2024-Q3 | 2024-09-28 | 230,100,000 | 11,800,000 | 0.08 | reported discrete quarter |
| 2024-Q4 | 2024-12-28 | 230,800,000 |  |  | derived Q4 = FY annual - nine-month YTD |
| 2025-Q1 | 2025-03-29 | 210,500,000 | 10,800,000 | 0.08 | reported discrete quarter |
| 2025-Q2 | 2025-06-28 | 228,100,000 | 20,700,000 | 0.15 | reported discrete quarter |
| 2025-Q3 | 2025-09-27 | 219,300,000 | 15,200,000 | 0.11 | reported discrete quarter |
| 2025-Q4 | 2026-01-03 | 226,300,000 | 7,100,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2026-Q1 | 2026-04-04 | 222,700,000 | 200,000 | 0.00 | reported discrete quarter |
| 2026-Q2 | 2026-07-04 | 233,500,000 | 10,700,000 | 0.08 | reported discrete quarter |

## Filed narrative (10-K & 10-Q)

## Business

Verbatim Item 1 Business section from JBI's latest 10-K: [/company/JBI/business/](/company/JBI/business/).

## Risk Factors

Verbatim Item 1A Risk Factors from JBI's latest 10-K: [/company/JBI/risk-factors/](/company/JBI/risk-factors/).

## Latest quarter (10-Q)

Latest 10-Q source: https://www.sec.gov/Archives/edgar/data/1839839/000183983926000018/jbi-20260704.htm

Extracted structurally from real Item 2 body heading to real Item 3/4 boundary. Published MD&A gate trimmed front/tail over-capture.
Confidence: high
Filing date: 2026-08-11
Report date: 2026-07-04

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

The following discussion and analysis provides information which management believes is relevant to an assessment and understanding of consolidated results of operations and financial condition. You should read the following discussion and analysis of our financial condition and results of operations in conjunction with the Unaudited Condensed Consolidated Financial Statements and notes thereto contained in this Quarterly Report on Form 10-Q (the “Form 10-Q”) and the Consolidated Financial Statements and notes thereto contained in our Annual Report on Form 10-K for the year ended January 3, 2026.

Certain information contained in this discussion and analysis or set forth elsewhere in this Form 10-Q, including information with respect to plans and strategy for our business, includes forward-looking statements that involve risks and uncertainties. As a result of many factors, including those factors set forth in the section entitled “Risk Factors,” our actual results could differ materially from the results described in or implied by the forward-looking statements contained in the following discussion and analysis. Factors that could cause or contribute to such differences include, but are not limited to, capital expenditures, economic and competitive conditions, regulatory changes and other uncertainties, as well as those factors discussed below and elsewhere in this Form 10-Q. We assume no obligation to update any of these forward-looking statements.

Unless otherwise indicated or the context otherwise requires, references in this Management’s Discussion and Analysis of Financial Condition and Results of Operations section to “Janus,” “we,” “us,” “our,” and other similar terms refer to Janus International Group Inc. and its consolidated subsidiaries.

Percentage amounts included in this Form 10-Q have not in all cases been calculated on the basis of such rounded figures, but on the basis of such amounts prior to rounding. For this reason, percentage amounts in this Form 10-Q may vary from those obtained by performing the same calculations using the figures in our Unaudited Condensed Consolidated Financial Statements included elsewhere in this Form 10-Q. Certain other amounts that appear in this Form 10-Q may not sum due to rounding.

Dollar amounts are shown in millions of dollars, unless otherwise noted, and rounded to the nearest tenth of a million except for share and per share amounts.

Introduction

This Management’s Discussion and Analysis of Financial Condition and Results of Operations (“MD&A”) is a supplement to the accompanying Unaudited Condensed Consolidated Financial Statements and provides additional information on our business, recent developments, financial condition, liquidity and capital resources, cash flows and results of operations. MD&A is organized as follows:

•Business Overview: This section provides a general description of our business, and a discussion of management’s general outlook regarding market demand, our competitive position and product innovation, as well as recent developments that we believe are important to understanding our results of operations and financial condition or in understanding anticipated future trends.

•Basis of Presentation: This section provides a discussion of the basis on which our Unaudited Condensed Consolidated Financial Statements were prepared.

•Results of Operations: This section provides an analysis of our results of operations for the three and six month periods ended July 4, 2026 and June 28, 2025.

•Liquidity and Capital Resources: This section provides a discussion of our financial condition and an analysis of our cash flows for the six month periods ended July 4, 2026 and June 28, 2025. This section also provides a discussion of our contractual obligations, other purchase commitments and customer credit risk that existed at July 4, 2026, as well as a discussion of our ability to fund our future commitments and ongoing operating activities through internal and external sources of capital.

•Critical Accounting Estimates: This section identifies and summarizes those accounting estimates that significantly impact our reported results of operations and financial condition and require significant judgment or estimates on the part of management in their application.

29

Business Overview

We are a global manufacturer and supplier of turn-key self-storage, commercial, and industrial building solutions including: roll up and swing doors, hallway systems, relocatable storage units, and facility and door automation technologies with manufacturing operations in Georgia, Texas, Arizona, Indiana, North Carolina, Tennessee, Poland, United Kingdom (“U.K.”), and Australia. The self-storage industry is comprised of institutional and non-institutional facilities. Institutional facilities typically include multi-story, climate controlled facilities located in prime locations owned and/or managed by large real estate investment trusts (“REITs”) or returns-driven operators of scale and are primarily located in the top 50 U.S. metropolitan statistical areas (“MSAs”), whereas the vast majority of non-institutional facilities are single-story, non-climate controlled facilities located outside of city centers owned and/or managed by smaller private operators that are mostly located outside of the top 50 U.S. MSAs. We are highly integrated with customers at every phase of a project, including facility planning/design, construction, access control, and the restoration, rebuilding, and replacement (“R3”) of self-storage facilities and damaged or end-of-life products.

Our business is operated through two geographic regions that comprise our two reportable segments: Janus North America and Janus International. Our Janus International segment is comprised of JIEH, whose production and sales are largely in Europe and Australia. Our Janus North America segment is comprised of all the other entities including Janus International Group, LLC (“Janus Core”), together with each of its operating subsidiaries, Noke, Inc. (“NOKE”), Asta Industries, Inc. (“ASTA”), Access Control Technologies, LLC (“ACT”), Janus Door, LLC (“Janus Door”), Steel Door Depot.com, LLC (“Steel Door Depot”), Janus International Canada, Ltd. (“Janus Canada”), and Terminal Door, LLC (“Terminal Door”). Janus Core includes our Kiwi II Construction, BETCO, and DBCI branded offerings. Furthermore, our business is comprised of three primary sales channels: self-storage - new construction, self-storage - R3 (R3), and commercial and other. The commercial and other category is primarily comprised of roll-up sheet and rolling steel door sales into the commercial marketplace.

New construction consists of engineering and project management work pertaining to the design, building, and logistics of a greenfield new self-storage facility tailored to customer specifications. Any Nokē Smart Entry System revenue associated with a new construction project also rolls up into this sales channel.

The concept of R3 is to remodel self-storage facilities including storage unit doors, hallways, ceilings, and offices, optimizing unit mix and utilizing vacant land for movable storage units (“MASS” relocatable storage units), and adding a more robust security solution to enable customers to (1) charge higher rental rates and (2) compete with modern self-storage facilities and large operators. In addition, the R3 sales channel includes new self-storage capacity being brought online through conversions and expansions. R3 transforms facilities through door replacement, facility upgrades, Nokē Smart Entry Systems, and relocatable storage MASS units.

Commercial light duty steel roll-up doors are designed for applications that require less frequent and less demanding operations. We offer heavy duty commercial grade steel doors (minimized dead-load, or constant weight of the curtain itself) perfect for warehouses, commercial buildings, and terminals, designed with a higher gauge and deeper guides, which combat the heavy scale of use with superior strength and durability. We offer rolling steel doors known for minimal maintenance and easy installation with, but not limited to, the following options for: commercial slat doors, heavy duty service doors, fire doors, fire rated counter shutters, insulated service doors, counter shutters and grilles. We also provide trucking terminal renovation, construction, remodeling, and maintenance services to trucking customers in the United States.

30

Executive Overview

Our operational and corporate strategy is to penetrate the self-storage, commercial and industrial storage markets, as well as capitalizing on aging self-storage facilities, while continuing to diversify our products and solutions. We are a bespoke provider of products and solutions for our clients.

•Total revenues of $233.5 for the three month period ended July 4, 2026 compared to $228.1 for the three month period ended June 28, 2025.

•Net income of $10.7 for the three month period ended July 4, 2026 compared to $20.7 for the three month period ended June 28, 2025.

•Adjusted EBITDA of $40.2 for the three month period ended July 4, 2026 compared to $49.0 for the three month period ended June 28, 2025.

•Adjusted EBITDA as a percentage of revenues was 17.2% for the three month period ended July 4, 2026 compared to 21.5% for the three month period ended June 28, 2025.

•Cash flows provided by operations of $24.4 were generated for the three month period ended July 4, 2026 compared to $51.4 cash flows provided by operations for the three month period ended June 28, 2025.

•Common stock worth $1.9 was repurchased in the three months ended July 4, 2026, which consisted of 367,096 shares, as part of our share repurchase program. We have $63.1 in remaining capacity under our share repurchase program.

Information regarding use of Adjusted EBITDA — a non-GAAP measure, and a reconciliation to the most comparable GAAP measure, are included in “Non-GAAP Financial Measures.”

Business Segment Information

Our business is operated through two geographic regions that comprise our two reportable segments: Janus North America and Janus International.

Janus North America is comprised of Corporate, Janus Core (inclusive of our BETCO, Kiwi, and DBCI branded offerings), Janus Door, Janus Canada, Steel Door Depot, ASTA, NOKE, ACT, and T.M.C. Janus North America produces and provides various fabricated components such as commercial and self-storage doors, walls, hallway systems and building components used primarily by owners or builders of self-storage facilities and also offers installation services along with the products. Janus North America represents approximately 85% to 95% of the Company’s revenue.

Janus International is comprised of Janus International Europe Holdings Ltd. (“Janus Europe Holdings”) and its subsidiaries, Janus International Australia Pty Ltd (“Janus Australia”), Janus International Europe Ltd (“Janus Europe”), Janus International France SARL (“Janus France”), and Janus International Poland sp. z.o.o (“Janus Poland”). The Janus International segment produces and provides similar products and services as Janus North America but largely in Europe, the U.K., and Australia. Janus International represents approximately 5% to 15% of the Company’s consolidated revenue.

Acquisitions

Our accretive merger and acquisition (“M&A”) strategy focuses on (i) portfolio diversification into attractive and logical adjacencies, (ii) geographic expansion, and (iii) technological innovation. Inorganic growth, through acquisitions, serves to increase Janus’s strategic growth.

On January 8, 2026, through our wholly owned subsidiary Janus Core, we acquired 100% of the business operations (such transaction, the “Kiwi II Acquisition”) of Kiwi II Construction, Inc., a California corporation, Kiwi II East Inc., a Tenn

[Excerpt truncated for page length; source filing is linked above.]

## Latest 10-K MD&A (excerpt)

Latest 10-K Item 7 source: https://www.sec.gov/Archives/edgar/data/1839839/000183983926000006/jbi-20260103.htm
Complete FY 2026 MD&A: /company/JBI/mda/fy2026/

Extracted structurally from real Item 7 body heading to real Item 7A/8 boundary.
Confidence: high
Filing date: 2026-03-04
Report date: 2026-01-03

Item 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion and analysis provides information which our management believes is relevant to an assessment and understanding of the consolidated results of operations and financial condition. You should read the following discussion and analysis of our financial condition and results of operations in conjunction with the consolidated financial statements and notes thereto contained in this Annual Report on Form 10-K (this “Annual Report”).

See “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in our Annual Report on Form 10-K filed on February 26, 2025 for discussion and analysis of results of operations for the year ended December 28, 2024.

Certain information contained in this discussion and analysis or set forth elsewhere in this Annual Report, including information with respect to plans and strategy for our business, includes forward-looking statements that involve risks and uncertainties. As a result of many factors, including those factors set forth in the section entitled “Risk Factors,” our actual results could differ materially from the results described in or implied by the forward-looking statements contained in the following discussion and analysis. Factors that could cause or contribute to such differences include, but are not limited to, capital expenditures, economic and competitive conditions, regulatory changes and other uncertainties, as well as those factors discussed below and elsewhere in this Annual Report. We assume no obligation to update any of these forward-looking statements.

Unless otherwise indicated or the context otherwise requires, references in this Management’s Discussion and Analysis of Financial Condition and Results of Operations section to “Janus,” “we,” “us,” “our,” and other similar terms refer to Janus International Group Inc. and its consolidated subsidiaries.

Percentage amounts included in this Annual Report have not in all cases been calculated on the basis of such rounded figures, but on the basis of such amounts prior to rounding. For this reason, percentage amounts in this Annual Report may vary from those obtained by performing the same calculations using the figures in our Consolidated Financial Statements included elsewhere in this Annual Report. Certain other amounts that appear in this Annual Report may not sum due to rounding.

Dollar amounts are shown in millions of dollars, unless otherwise noted, and rounded to the nearest tenth of a million except for share and per share amounts.

Introduction

This Management’s Discussion and Analysis of Financial Condition and Results of Operations (“MD&A”) is a supplement to the accompanying Consolidated Financial Statements and provides additional information on our business, recent developments, financial condition, liquidity and capital resources, cash flows and results of operations. MD&A is organized as follows:

•Business Overview: This section provides a general description of our business, and a discussion of management’s general outlook regarding market demand, our competitive position and product innovation, as well as recent developments that we believe are important to understanding our results of operations and financial condition or in understanding anticipated future trends.

•Basis of Presentation: This section provides a discussion of the basis on which our Consolidated Financial Statements were prepared.

•Results of Operations: This section provides an analysis of our results of operations for the years ended January 3, 2026 and December 28, 2024.

•Liquidity and Capital Resources: This section provides a discussion of our financial condition and an analysis of our cash flows for the years ended January 3, 2026 and December 28, 2024. This section also provides a discussion of our contractual obligations, other purchase commitments and customer credit risk that existed at January 3, 2026, as well as a discussion of our ability to fund our future commitments and ongoing operating activities through internal and external sources of capital.

•Critical Accounting Estimates: This section identifies and summarizes those accounting estimates that significantly impact our reported results of operations and financial condition and require significant judgment or estimates on the part of management in their application.

30

Business Overview

We are a global manufacturer and supplier of turn-key self-storage, commercial, and industrial building solutions including: roll up and swing doors, hallway systems, relocatable storage units, and facility and door automation technologies with manufacturing operations in Georgia, Texas, Arizona, Indiana, North Carolina, Poland, United Kingdom (“U.K.”), and Australia. The self-storage industry is comprised of institutional and non-institutional facilities. Institutional facilities typically include multi-story, climate controlled facilities located in prime locations owned and/or managed by large real estate investment trusts (“REITs”) or returns-driven operators of scale and are primarily located in the top 50 U.S. metropolitan statistical areas (“MSAs”), whereas the vast majority of non-institutional facilities are single-story, non-climate controlled facilities located outside of city centers owned and/or managed by smaller private operators that are mostly located outside of the top 50 U.S. MSAs. We are highly integrated with customers at every phase of a project, including facility planning/design, construction, access control, and the restoration, rebuilding, and replacement (“R3”) of self-storage facilities and damaged or end-of-life products.

Our business is operated through two geographic regions that comprise our two reportable segments: Janus North America and Janus International. Our Janus International segment is comprised of JIEH, whose production and sales are largely in Europe and Australia. Our Janus North America segment is comprised of all the other entities including Janus International Group, LLC (“Janus Core”), together with each of its operating subsidiaries, Betco, Inc. (“BETCO”), Noke, Inc. (“NOKE”), Asta Industries, Inc. (“ASTA”), Access Control Technologies, LLC (“ACT”), U.S. Door & Building Components, LLC (“U.S. Door”), Janus Door, LLC (“Janus Door”), Steel Door Depot.com, LLC (“Steel Door Depot”), Janus International Canada, Ltd. (“Janus Canada”), and Terminal Door, LLC (“Terminal Door”). Furthermore, our business is comprised of three primary sales channels: self-storage - new construction, self-storage - R3 (R3), and commercial and other. The commercial and other category is primarily comprised of roll-up sheet and rolling steel door sales into the commercial marketplace.

New construction consists of engineering and project management work pertaining to the design, building, and logistics of a greenfield new self-storage facility tailored to customer specifications. Any Nokē Smart Entry System revenue associated with a new construction project also rolls up into this sales channel.

The concept of R3 is to remodel self-storage facilities including storage unit doors, hallways, ceilings, and offices, optimizing unit mix and utilizing vacant land for movable storage units (“MASS” relocatable storage units), and adding a more robust security solution to enable customers to (1) charge higher rental rates and (2) compete with modern self-storage facilities and large operators. In addition, the R3 sales channel includes new self-storage capacity being brought online through conversions and expansions. R3 transforms facilities through door replacement, facility upgrades, Nokē Smart Entry Systems, and relocatable storage MASS units.

Commercial light duty steel roll-up doors are designed for applications that require less frequent and less demanding operations. We offer heavy duty commercial grade steel doors (minimized dead-load, or constant weight of the curtain itself) perfect for warehouses, commercial buildings, and terminals, designed with a higher gauge and deeper guides, which combat the heavy scale of use with superior strength and durability. We also offer rolling steel doors known for minimal maintenance and easy installation with, but not limited to, the following options for: commercial slat doors, heavy duty service doors, fire doors, fire rated counter shutters, insulated service doors, counter shutters and grilles. Following the T.M.C. Acquisition (hereinafter defined), our business expanded to provide trucking terminal renovation, construction, remodeling, and maintenance services to trucking customers in the United States.

31

Executive Overview

Our operational and corporate strategy is to penetrate the self-storage, commercial and industrial storage markets, as well as capitalizing on aging self-storage facilities, while continuing to diversify our products and solutions. We are a bespoke provider of products and solutions for our clients.

•Total revenues of $884.2 for the year ended January 3, 2026 compared to $963.8 for the year ended December 28, 2024.

•Net income was $53.8 for the year ended January 3, 2026 compared to $70.4 for the year ended December 28, 2024.

•Adjusted EBITDA was $168.2 for the year ended January 3, 2026 compared to $208.5 for the year ended December 28, 2024.

•Adjusted EBITDA as a percentage of revenue was 19.0% for the year ended January 3, 2026 compared to 21.6% for the year ended December 28, 2024.

•Cash flows from operations of $139.5 were generated for the year ended January 3, 2026 compared to $154.0 cash flows from operations for the year ended December 28, 2024.

•Common stock worth $16.0 was repurchased, which consisted of 1,925,242 shares as part of our $100.0 share repurchase program. This program was expanded by $75.0 during the fiscal year and we have $80.5 in remaining capacity under the program as of January 3, 2026.

Information regarding use of Adjusted EBITDA — a non-GAAP measure, and a reconciliation to the most comparable GAAP measure, are included in “Non-GAAP Financial Measures.”

Business Segment Information

Our business is operated through two geographic regions that comprise our two reportable segments: Janus North America and Janus International.

Janus North America is comprised of nine entities including Corporate, Janus Core, Janus Door, Steel Door Depot, ASTA, NOKE, BETCO, ACT and T.M.C. Janus North America produces and provides various fabricated components such as commercial and self-storage doors, walls, hallway systems and building components used primarily by owners or builders of self-storage facilities and also offers installation services along with the products. Janus North America represents approximately 85% to 95% of the Company’s revenue.

Janus International is comprised of Janus International Europe Holdings Ltd. (“Janus Europe Holdings”) and its subsidiaries, Janus International Australia Pty Ltd (“Janus Australia”), Janus International Europe Ltd (“Janus Europe”), Janus International France SARL (“Janus France”), and Janus International Poland sp. z.o.o (“Janus Poland”). The Janus International segment produces and provides similar products and services as Janus North America but largely in Europe, the U.K., and Australia. Janus International represents approximately 5% to 15% of the Company’s consolidated revenue.

Basis of Presentation

The Consolidated Financial Statements have been derived from the accounts of Janus and its wholly owned subsidiaries. Our fiscal year follows a 4-4-5 calendar which divides a year into four quarters of 13 weeks, grouped into two 4-week “months” and one 5-week “month.” The major advantage of a 4-4-5 calendar is that the end date of the period is always the same day of the week, making manufacturing planning easier as every period is the same length. Our fiscal year is composed of the 52 or 53 weeks ending on the Saturda

[Excerpt truncated for page length; the complete text is on the linked full-MD&A page.]

Read the full FY 2026 MD&A: /company/JBI/mda/fy2026/
All MD&A years: /company/JBI/mda/


## MD&A history

Prior-year 10-K MD&A spans are extracted from SEC filings with the same bounded parser used for the latest filing. Each year's full verbatim text is on its own sub-page.

- [FY 2024 MD&A](/company/JBI/mda/fy2024/): filed 2025-02-26; accession 0001839839-25-000032 (https://www.sec.gov/Archives/edgar/data/1839839/000183983925000032/jbi-20241228.htm)
- [FY 2023 MD&A](/company/JBI/mda/fy2023/): filed 2024-02-28; accession 0001839839-24-000066 (https://www.sec.gov/Archives/edgar/data/1839839/000183983924000066/jbi-20231230.htm)
- [FY 2022 MD&A](/company/JBI/mda/fy2022/): filed 2023-03-29; accession 0001839839-23-000024 (https://www.sec.gov/Archives/edgar/data/1839839/000183983923000024/jbi-20221231.htm)
- [FY 2022 MD&A](/company/JBI/mda/a-0001839839-22-000007/): filed 2022-03-15; accession 0001839839-22-000007 (https://www.sec.gov/Archives/edgar/data/1839839/000183983922000007/jbi-20220101.htm)




## Macro cross-references

Indicators mapped to this company's SIC classification (industry 3442 Metal Doors, Sash, Frames, Moldings & Trim) by grepcent's deterministic macro-sector crosswalk. A navigational mapping, not a statistical or causal claim.

- [INDPRO](/indicator/INDPRO/): Industrial Production: Total Index
- [TCU](/indicator/TCU/): Capacity Utilization: Total Index
- [PPIACO](/indicator/PPIACO/): Producer Price Index by Commodity: All Commodities
- [GDPC1](/indicator/GDPC1/): Real Gross Domestic Product
- [DGS10](/indicator/DGS10/): Market Yield on U.S. Treasury Securities at 10-Year Constant Maturity
- [FEDFUNDS](/indicator/FEDFUNDS/): Federal Funds Effective Rate
- [CES0500000003](/indicator/CES0500000003/): Average Hourly Earnings of All Employees, Total Private
- [PAYEMS](/indicator/PAYEMS/): All Employees, Total Nonfarm

Macro-to-micro threads including this sector: [Inflation (CPI / PCE / PPI)](/thread/inflation-cpi-pce-ppi/), [US labor market](/thread/us-labor-market/), [Growth & output](/thread/growth-output/), [Money & trade](/thread/money-trade/), [Government finances](/thread/government-finances/), [Sector employment](/thread/sector-employment/), [Industrial orders & inventories](/thread/industrial-orders/), [Trade & external](/thread/trade-external/).

All macro indicators: /indicators/


## For LLMs & downloads

Markdown twin: /company/JBI.md · JSON record: /company/JBI.json · verified financials: /company/JBI/financials.json / /company/JBI/financials.csv · machine TOC for the whole site: /llms.txt