Jasper Holdings shares hit record $1,515.93, company rises to No. 23 ESOP

Jasper Holdings Inc. said its employee stock ownership plan reached a record share value of $1,515.93 for 2025, a jump of $220.78 from the year before. For workers whose retirement balances are tied to company stock, the new valuation means the value of their ownership stake rose again as the Jasper-based business posted stronger results.

The company also moved up in national standing. Jasper Holdings ranked No. 23 on the National Center for Employee Ownership’s 2025 Employee Ownership 100 list, up from No. 27 the year before. That keeps the Dubois County company among the largest employee-owned businesses in the United States and reinforces its role as one of the region’s most visible manufacturing employers.

Chief Executive Officer Doug Bawel said the increase reflected strong company performance and market conditions. Jasper Holdings has said its employee ownership model is meant to build long-term wealth while supporting productivity, engagement and job stability. In a county where big industrial employers shape household finances as much as the local tax base, a record ESOP valuation is more than a corporate metric. It is a direct measure of what employee-owners have accumulated through years of work.

The latest figure extends a run of rising values. In 2024, Jasper Holdings reported a then-record share price of $1,295.15, up $171.25 from the prior year. The company also said that year its annual contribution was 15%, with the average contribution across JHI reaching 18% when trust fund gain shares were included. The 2025 valuation now sits $220.78 above that 2024 record, adding another year of gains for employees watching the value of their accounts.

Jasper Holdings said it converted to a 100% ESOP in 2009, a change that has helped define its business identity in Jasper and beyond. A trade publication has said the plan has generated about $2.2 billion in wealth for associate-owners, a figure that shows how much of the company’s growth has been turned into retirement value for local workers. For Dubois County, the newest share price is both a financial milestone and a reminder that one of its signature companies remains rooted here while building wealth for the people who work inside it.