A Business at a Glance
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Johnson Controls International plc
JCI
$93.8B
Mkt Cap
$143.37
+0.06%
Johnson Controls International plc (JCI) has a current P/E ratio of 27.3, compared to its historical median P/E of 21.3. The stock is currently considered Fair based on its historical valuation range.
Johnson Controls International plc (JCI) has a 5-year average return on invested capital (ROIC) of 8.0%. This is below average and may indicate limited pricing power.
Johnson Controls International plc (JCI) has a market capitalization of $87.5B. It is classified as a large-cap stock.
Yes, Johnson Controls International plc (JCI) pays a dividend with a trailing twelve-month yield of 1.11%. The company also returns capital through share buybacks, with a buyback yield of 6.34%.
Based on historical P/E analysis, Johnson Controls International plc (JCI) appears fair. The current P/E of 27.3 is 28% above its historical median of 21.3. The estimated fair value CAGR (P/E method) is 2.9%.
Johnson Controls International plc (JCI) operates in the Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip industry, within the Industrials sector.
Johnson Controls International plc is a global leader in smart, healthy and sustainable buildings, headquartered in Cork, Ireland, serving commercial, industrial, data center, institutional and governmental customers across the Americas, EMEA and APAC regions. The company designs, manufactures, sells, installs and services commercial HVAC equipment, industrial refrigeration systems, controls, security systems, fire-detection and fire-suppression solutions, and provides technical services including maintenance, repair, retrofit and replacement of equipment, complemented by its OpenBlue digital software platform that combines building products and services with artificial intelligence and machine learning capabilities to enable data-driven smart building solutions. Products and systems account for approximately 68% of sales from continuing operations while services represent 32%, with the company leveraging its extensive direct sales and service network alongside global third-party distribution channels to serve a large installed base that generates significant repeat business in maintenance, retrofit and replacement markets. The company's competitive differentiation stems from its trusted building brands including YORK, Metasys, Ansul, Frick and Simplex, combined with the breadth and depth of its integrated product portfolio, substantial field position, domain expertise across verticals, and ability to deliver customized lifecycle solutions that address customers' specific mission-critical needs while generating recurring revenue streams. Following the July 2025 divestiture of its Residential and Light Commercial HVAC business to Bosch, the company realigned into three regional segments—Americas, EMEA and APAC—to simplify operations and better reflect its organizational structure focused on commercial buildings and mission-critical environments.
【Strong backlog-driven momentum】 Management expects continued robust demand conversion supported by record backlog of $20 billion providing visibility into near-term revenue growth, with approximately 70% of backlog expected to convert to revenue over the next 12 months. The company anticipates mid-single-digit organic sales growth sustained by strength across multiple verticals including data centers, pharma biologics, advanced manufacturing, hospitals and airports, with particular confidence in the stability and growth trajectory of these end-markets beyond near-term execution. Operating leverage is expected to remain elevated as the company continues to realize productivity benefits from its business system combining 80/20 and lean principles with digital and AI approaches, while disciplined cost management and working capital execution support margin expansion. Management is focused on capitalizing on key growth vectors including data center cooling solutions, decarbonization and sustainable buildings, and mission-critical environments, with investments in product development and digital capabilities designed to deliver differentiated solutions tailored to customers' desired outcomes across their building lifecycles.
| Metric | Target | Period |
|---|---|---|
| Organic sales growth | approximately 6% | FY2026 (full year) |
| Operating leverage | approximately 50% | FY2026 (full year) |
| Adjusted EPS | approximately $4.85 | FY2026 (full year) |
| Adjusted free cash flow conversion | approximately 100% | FY2026 (full year) |
| Q3 FY2026 organic sales growth | approximately 6% | Q3 FY2026 |
| Q3 FY2026 adjusted EPS | approximately $1.28 | Q3 FY2026 |
Organic sales growth (FY2026 (full year)): “For the full year, improved performance and backlog strength support our expectation of organic sales growth of approximately 6%.”
Operating leverage (FY2026 (full year)): “We continue to expect operating leverage of approximately 50% for the full year, reflecting continued progress in cost management and productivity.”
Adjusted EPS (FY2026 (full year)): “As a result, we are raising our adjusted EPS guidance to approximately $4.85, representing roughly 30% growth and $0.30 higher than our original guide at the beginning of the year.”
Adjusted free cash flow conversion (FY2026 (full year)): “We continue to expect adjusted free cash flow conversion of approximately 100% for the full year, demonstrating that improved profitability is translating directly into cash.”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q2 FY2026 Earnings Call, Q1 FY2026 Earnings Call, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 24.4B | 23.6B | 23.0B | 22.3B | 20.6B | 23.7B |
| Net Income | 3.5B | 3.3B | 1.7B | 1.8B | 1.5B | 1.6B |
| EPS | $5.57 | $5.03 | $2.52 | $2.69 | $2.19 | $2.27 |
| Free Cash Flow | 2.7B | 2.1B | 1.1B | 1.4B | 750M | 2.0B |
| ROIC | 0.0% | 13.0% | 6.9% | 5.8% | 6.7% | 7.7% |
| Gross Margin | 36.6% | 36.4% | 35.2% | 34.9% | 34.4% | 34.1% |
| Debt/Equity | 0.70 | 0.81 | 0.62 | 0.57 | 0.55 | 0.44 |
| Dividends/Share | $1.60 | $1.51 | $1.48 | $1.45 | $1.39 | $1.07 |
| Operating Income | 0 | 3.6B | 1.9B | 1.4B | 1.6B | 2.7B |
| Operating Margin | 0.0% | 15.2% | 8.1% | 6.3% | 7.6% | 11.5% |
| ROE | 26.1% | 22.7% | 10.4% | 11.3% | 9.1% | 9.4% |
| Shares Outstanding | 610M | 654M | 677M | 687M | 700M | 721M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 38.7B | 17.1B | 20.8B | 30.2B | 31.4B | 24.0B | 22.3B | 23.7B | 20.6B | 22.3B | 23.0B | 23.6B | 24.4B |
| Gross Margin | 16.3% | 26.5% | 27.1% | 25.0% | 24.4% | 32.1% | 33.2% | 34.1% | 34.4% | 34.9% | 35.2% | 36.4% | 36.6% |
| R&D | 193M | 134M | 158M | 307M | 310M | 319M | 274M | 275M | 236M | 251M | 267M | 273M | 273M |
| SG&A | 4.2B | 3.2B | 4.2B | 5.7B | 5.6B | 6.2B | 5.7B | 5.3B | 5.1B | 5.4B | 5.7B | 5.8B | 5.6B |
| EBIT | 700M | 884M | -378M | 2.4B | 2.8B | 5.8B | 979M | 2.7B | 1.6B | 1.4B | 1.9B | 3.6B | 0 |
| Op. Margin | 1.8% | 5.2% | -1.8% | 7.9% | 8.8% | 24.1% | 4.4% | 11.5% | 7.6% | 6.3% | 8.1% | 15.2% | 0.0% |
| Net Income | 1.2B | 1.6B | -868M | 1.6B | 2.2B | 5.7B | 631M | 1.6B | 1.5B | 1.8B | 1.7B | 3.3B | 3.5B |
| Net Margin | 3.1% | 9.1% | -4.2% | 5.3% | 6.9% | 23.7% | 2.8% | 6.9% | 7.4% | 8.3% | 7.4% | 13.9% | 14.5% |
| Non-Recurring | 394M | 1.7B | 509M | 418M | 405M | 235M | 783M | 242M | 1.0B | 1.2B | 698M | 973M | 595M |
| Returns on Capital | |||||||||||||
| ROIC | 4.4% | 6.2% | -3.3% | 4.7% | 7.4% | 20.6% | 3.6% | 7.7% | 6.7% | 5.8% | 6.9% | 13.0% | 0.0% |
| ROE | 10.3% | 14.5% | -5.0% | 7.2% | 10.4% | 27.7% | 3.4% | 9.4% | 9.1% | 11.3% | 10.4% | 22.7% | 26.1% |
| ROA | 5.4% | 5.0% | -1.9% | 2.8% | 4.3% | 12.5% | 1.5% | 4.0% | 3.6% | 4.4% | 4.0% | 8.2% | 9.2% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 2.4B | 1.6B | 1.9B | 371M | 1.5B | 1.7B | 2.5B | 2.6B | 1.2B | 1.9B | 1.6B | 2.6B | 3.0B |
| Free Cash Flow | 1.2B | 465M | 659M | -389M | 875M | 1.2B | 2.0B | 2.0B | 750M | 1.4B | 1.1B | 2.1B | 2.7B |
| Owner Earnings | 1.4B | 650M | 813M | -682M | 590M | 823M | 1.6B | 1.6B | 422M | 1.0B | 645M | 1.5B | 2.1B |
| CapEx | 1.2B | 1.1B | 1.2B | 760M | 645M | 586M | 443M | 552M | 487M | 446M | 494M | 434M | 372M |
| Maint. CapEx | 955M | 860M | 953M | 919M | 824M | 825M | 822M | 845M | 717M | 745M | 816M | 865M | 803M |
| Growth CapEx | 244M | 275M | 296M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 955M | 860M | 953M | 919M | 824M | 825M | 822M | 845M | 717M | 745M | 816M | 865M | 803M |
| CapEx/OCF | 34.7% | 70.9% | 65.9% | 4332.3% | 42.4% | 33.6% | 17.9% | 21.6% | 29.7% | 24.0% | 31.5% | 17.0% | 12.2% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 568M | 657M | 915M | 702M | 954M | 920M | 790M | 762M | 916M | 980M | 1.0B | 976M | 975M |
| Dividend Yield | 1.4% | 1.7% | 2.4% | 2.2% | 3.3% | 3.3% | 3.2% | 2.0% | 2.2% | 2.4% | 2.4% | 1.7% | 1.1% |
| Share Buybacks | 1.2B | 1.4B | 501M | 651M | 300M | 6.0B | 2.2B | 1.3B | 1.4B | 625M | 1.2B | 6.0B | 5.5B |
| Buyback Yield | 13.0% | 8.3% | 2.2% | 2.1% | 1.1% | 17.8% | 7.8% | 2.8% | 4.3% | 1.8% | 2.4% | 8.6% | 6.3% |
| Stock-Based Comp | 82M | 90M | 142M | 134M | 106M | 95M | 74M | 76M | 98M | 107M | 107M | 140M | 147M |
| Debt Repayment | 833M | 191M | 1.3B | 1.3B | 3.7B | 2.3B | 1.4B | 507M | 184M | 1.6B | 924M | 1.6B | 1.6B |
| Balance Sheet | |||||||||||||
| Net Debt | 1.1B | 3.6B | 15.7B | 13.3B | 10.8B | 4.4B | 5.9B | 6.4B | 7.0B | 8.6B | 9.5B | 10.1B | 8.8B |
| Cash & Equiv. | 364M | 553M | 579M | 301M | 185M | 2.8B | 2.0B | 1.3B | 2.0B | 828M | 606M | 379M | 698M |
| Long-Term Debt | 1.5B | 3.1B | 15.2B | 12.4B | 9.7B | 7.2B | 7.8B | 7.8B | 8.3B | 8.5B | 8.6B | 9.2B | 8.6B |
| Debt/Equity | 0.13 | 0.40 | 0.68 | 0.67 | 0.52 | 0.37 | 0.45 | 0.44 | 0.55 | 0.57 | 0.62 | 0.81 | 0.70 |
| Interest Coverage | 2.8 | 3.2 | -1.3 | 5.3 | 6.8 | 17.2 | 4.1 | 12.4 | 7.0 | 40.5 | 48.8 | 91.7 | 91.7 |
| Equity | 11.3B | 10.3B | 24.1B | 20.4B | 21.2B | 19.8B | 17.4B | 17.6B | 16.3B | 16.5B | 16.1B | 12.9B | 13.5B |
| Total Assets | 32.8B | 29.6B | 63.2B | 51.9B | 48.8B | 42.3B | 40.8B | 41.9B | 42.2B | 42.2B | 42.7B | 37.9B | 38.4B |
| Total Liabilities | 7.1B | 19.3B | 37.9B | 30.3B | 26.3B | 21.5B | 22.3B | 23.1B | 24.8B | 24.5B | 25.3B | 25.0B | 63M |
| Intangibles | 712M | 1.5B | 7.5B | 6.7B | 6.2B | 5.6B | 5.4B | 5.5B | 5.2B | 4.8B | 4.1B | 3.6B | 3.5B |
| Retained Earnings | 4.9B | 10.8B | 9.2B | 5.2B | 6.6B | 4.8B | 2.5B | 2.0B | 1.2B | 1.4B | 848M | 0 | 0 |
| Working Capital | 1.3B | 23M | 778M | 438M | 573M | 3.3B | 1.8B | 900M | 446M | -347M | -776M | -779M | 386M |
| Current Assets | 4.8B | 10.5B | 17.1B | 12.3B | 11.8B | 12.4B | 10.1B | 10.0B | 11.7B | 10.7B | 11.2B | 10.2B | 11.0B |
| Current Liabilities | 3.5B | 10.4B | 16.3B | 11.9B | 11.3B | 9.1B | 8.2B | 9.1B | 11.2B | 11.1B | 12.0B | 10.9B | 10.6B |
| Per Share Data | |||||||||||||
| EPS | 0.90 | 1.18 | -0.65 | 1.71 | 2.32 | 6.49 | 0.84 | 2.27 | 2.19 | 2.69 | 2.52 | 5.03 | 5.57 |
| Owner EPS | 1.01 | 0.49 | 0.60 | -0.72 | 0.63 | 0.94 | 2.11 | 2.26 | 0.60 | 1.46 | 0.95 | 2.37 | 3.42 |
| Book Value | 8.35 | 7.80 | 17.92 | 21.70 | 22.71 | 22.61 | 23.23 | 24.35 | 23.26 | 24.07 | 23.79 | 19.76 | 22.16 |
| Cash Flow/Share | 1.77 | 1.21 | 1.42 | 0.39 | 1.63 | 1.99 | 3.30 | 3.54 | 1.77 | 2.70 | 2.32 | 3.90 | 7.10 |
| Dividends/Share | 0.44 | 0.52 | 0.58 | 1.00 | 1.04 | 1.04 | 1.04 | 1.07 | 1.39 | 1.45 | 1.48 | 1.51 | 1.60 |
| Shares Out. | 1.4B | 1.3B | 1.3B | 942.1M | 931.9M | 874.3M | 751.2M | 721.1M | 699.5M | 687.4M | 676.6M | 654.3M | 610.1M |
| Valuation | |||||||||||||
| P/E Ratio | 7.7 | 10.5 | N/A | 19.4 | 12.9 | 5.9 | 44.6 | 28.5 | 22.1 | 19.1 | 30.3 | 21.3 | 25.7 |
| P/FCF | 36.1 | 70.4 | 68.3 | N/A | 31.8 | 29.0 | 13.8 | 23.4 | 45.1 | 25.0 | 48.0 | 33.0 | 32.8 |
| EV/EBIT | 19.8 | 9.6 | N/A | 15.9 | 13.7 | 6.1 | 32.7 | 19.0 | 22.2 | 30.7 | 33.0 | 22.4 | N/A |
| Price/Book | 3.0 | 1.6 | 0.9 | 1.5 | 1.3 | 1.7 | 1.6 | 2.7 | 2.1 | 2.1 | 3.2 | 5.4 | 6.5 |
| Price/Sales | 1.3 | 5.4 | 7.0 | 5.3 | 1.2 | 1.2 | 1.1 | 1.6 | 1.6 | 1.8 | 1.8 | 2.5 | 3.6 |
| FCF Yield | 8.5% | 2.8% | 2.9% | -1.2% | 3.1% | 3.5% | 7.2% | 4.3% | 2.2% | 4.0% | 2.1% | 3.0% | 3.0% |
| Market Cap | 14.1B | 16.4B | 22.5B | 31.3B | 27.9B | 33.5B | 28.1B | 46.7B | 33.8B | 35.3B | 51.6B | 70.0B | 87.5B |
| Avg. Price | 29.85 | 29.66 | 28.63 | 34.13 | 31.19 | 32.08 | 33.20 | 53.85 | 58.69 | 59.06 | 60.59 | 89.98 | 143.37 |
| Year-End Price | 31.97 | 24.71 | 33.42 | 33.25 | 29.89 | 38.35 | 37.45 | 64.80 | 48.32 | 51.33 | 76.24 | 107.01 | 143.37 |
Johnson Controls International plc passes 5 of 9 quality checks, suggesting mixed fundamentals.
Johnson Controls International plc trades at 27.3x trailing earnings, compared to its 15-year median P/E of 21.3x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 34.8x vs a median of 31.8x. The company's 5-year average ROIC is 8.0% with a gross margin of 35.0%. Total shareholder yield (dividends + buybacks) is 7.5%. At current prices, the estimated annualized return to fair value is +8.9%.
Johnson Controls International plc (JCI) reported annual revenue of $23.6 billion in its most recent fiscal year, based on SEC EDGAR filings.
Johnson Controls International plc (JCI) has a net profit margin of 13.9%. This is a healthy margin.
Johnson Controls International plc (JCI) generated $2.1 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Johnson Controls International plc (JCI) has a debt-to-equity ratio of 0.81. This indicates moderate leverage.
Johnson Controls International plc (JCI) reported earnings per share (EPS) of $5.03 in its most recent fiscal year.
Johnson Controls International plc (JCI) has a return on equity (ROE) of 22.7%. This indicates the company generates strong returns for shareholders.
Johnson Controls International plc (JCI) has a 5-year average gross margin of 35.0%. This indicates decent pricing power.
The Ledger Terminal provides 19 years of financial data for Johnson Controls International plc (JCI), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Johnson Controls International plc (JCI) has a book value per share of $19.76, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects continued robust demand conversion supported by record backlog of $20 billion providing visibility into near-term revenue growth, with approximately 70% of backlog expected to convert to revenue over the next 12 months. The company anticipates mid-single-digit organic sales growth sustained by strength across multiple verticals including data centers, pharma biologics, advanced manufacturing, hospitals and airports, with particular confidence in the stability and growth trajectory of these end-markets beyond near-term execution. Operating leverage is expected to remain elevated as the company continues to realize productivity benefits from its business system combining 80/20 and lean principles with digital and AI approaches, while disciplined cost management and working capital execution support margin expansion. Management is focused on capitalizing on key growth vectors including data center cooling solutions, decarbonization and sustainable buildings, and mission-critical environments, with investments in product development and digital capabilities designed to deliver differentiated solutions tailored to customers' desired outcomes across their building lifecycles.
Based on recent SEC filings and earnings calls, Johnson Controls International plc (JCI) has provided the following forward guidance: Organic sales growth: approximately 6% (FY2026 (full year)); Operating leverage: approximately 50% (FY2026 (full year)); Adjusted EPS: approximately $4.85 (FY2026 (full year)); Adjusted free cash flow conversion: approximately 100% (FY2026 (full year)); Q3 FY2026 organic sales growth: approximately 6% (Q3 FY2026), plus 1 additional metric.
Q3 FY2026 organic sales growth (Q3 FY2026): “We anticipate organic sales growth of approximately 6%, operating leverage of approximately 45%, and adjusted EPS of approximately $1.28.”
Q3 FY2026 adjusted EPS (Q3 FY2026): “We anticipate organic sales growth of approximately 6%, operating leverage of approximately 45%, and adjusted EPS of approximately $1.28.”