A Business at a Glance
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JONES LANG LASALLE INC
JLL
$15.7B
Mkt Cap
$325.45
+1.90%
JONES LANG LASALLE INC (JLL) has a current P/E ratio of 19.8, compared to its historical median P/E of 17.9. The stock is currently considered Fair based on its historical valuation range.
JONES LANG LASALLE INC (JLL) has a 5-year average return on invested capital (ROIC) of 10.5%. This indicates solid capital allocation.
JONES LANG LASALLE INC (JLL) has a market capitalization of $15.1B. It is classified as a large-cap stock.
JONES LANG LASALLE INC (JLL) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 3.26%.
Based on historical P/E analysis, JONES LANG LASALLE INC (JLL) appears fair. The current P/E of 19.8 is 11% above its historical median of 17.9. The estimated fair value CAGR (P/E method) is -2.1%.
JONES LANG LASALLE INC (JLL) operates in the Real Estate Agents & Managers (For Others) industry, within the Real Estate sector.
JONES LANG LASALLE INC (JLL) reported annual revenue of $26.1 billion in its most recent fiscal year, based on SEC EDGAR filings.
JLL is a leading global commercial real estate services and investment management company with operations in over 80 countries and a workforce of more than 113,000 employees. The company operates through five segments: Real Estate Management Services (including Workplace Management, Project Management, Property Management, and Portfolio Services), Leasing Advisory, Capital Markets, Software and Technology Solutions, and Investment Management (LaSalle Investment Management). JLL earns revenue through a diversified mix of recurring management fees, transactional commissions on leasing and sales, advisory fees from capital raising and deployment, and software licensing, serving real estate owners, occupiers, investors, and developers across property types including office, industrial, hotel, multifamily, retail, and data centers. The business model combines asset-light advisory and transaction-based services with recurring management contracts, generating revenue across geographies with approximately 40% from the Americas, 35% from Europe, Middle East and Africa, and 25% from Asia Pacific. The company's competitive advantages include its global platform scale, proprietary data and technology capabilities developed over a decade, deep local market expertise, and ability to provide coordinated end-to-end solutions across the full spectrum of client real estate needs, positioning it to serve multinational clients and capitalize on a consolidating industry.
【Resilient growth trajectory ahead】 Management expects continued revenue growth across core resilient business lines in 2026, with Real Estate Management Services benefiting from strong pipelines particularly in the second half, and transactional businesses (leasing and capital markets) supported by improved sentiment, robust global economic conditions, and increased investor capital deployment. The company anticipates gradual recovery in advisory fee growth as newly raised private equity capital deploys over coming quarters, while property management contract turnover in Asia Pacific is expected to complete by year-end with revenue headwinds offset by strength in the Americas. Management remains focused on driving operating leverage and margin expansion through organic revenue growth and platform efficiency, with expectations for healthy incremental margins in capital markets and continued investment in talent and technology capabilities to support long-term profitable growth.
| Metric | Target | Period |
|---|---|---|
| Adjusted EPS | $21.80–$23.50 | FY2026 |
| Adjusted EBITDA | $1.575 billion–$1.675 billion | FY2026 |
Adjusted EPS (FY2026): “we are targeting an adjusted EPS range of $21.80- $23.50 for the year, reflecting 20% growth at the midpoint”
Adjusted EBITDA (FY2026): “we are targeting an Adjusted EBITDA range of $1.575 billion-$1.675 billion, reflecting 12% growth at the midpoint”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 26.8B | 26.1B | 23.4B | 20.8B | 20.9B | 19.4B |
| Net Income | 896M | 792M | 547M | 225M | 655M | 962M |
| EPS | $19.08 | $16.40 | $11.30 | $4.67 | $13.27 | $18.47 |
| Free Cash Flow | 971M | 979M | 600M | 389M | -5.9M | 797M |
| ROIC | 11.3% | 11.6% | 9.6% | 8.0% | 10.7% | 12.6% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.22 | 0.24 | 0.27 | 0.23 | 0.24 | 0.27 |
| Dividends/Share | $0.00 | - | - | - | - | $0.00 |
| Operating Income | 1.2B | 1.1B | 868M | 577M | 868M | 1.0B |
| Operating Margin | 4.4% | 4.2% | 3.7% | 2.8% | 4.2% | 5.4% |
| ROE | 12.3% | 11.1% | 8.4% | 3.7% | 10.7% | 16.4% |
| Shares Outstanding | 46M | 48M | 48M | 48M | 49M | 52M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 5.4B | 6.0B | 13.0B | 14.5B | 16.3B | 18.0B | 16.6B | 19.4B | 20.9B | 20.8B | 23.4B | 26.1B | 26.8B |
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 3.3B | 3.6B | 2.2B | 2.6B | 3.0B | 3.1B | 8.0B | 8.5B | 9.7B | 10.1B | 11.3B | 12.8B | 13.1B |
| EBIT | 466M | 530M | 456M | 546M | 707M | 715M | 559M | 1.0B | 868M | 577M | 868M | 1.1B | 1.2B |
| Op. Margin | 8.6% | 8.9% | 3.5% | 3.8% | 4.3% | 4.0% | 3.4% | 5.4% | 4.2% | 2.8% | 3.7% | 4.2% | 4.4% |
| Net Income | 386M | 438M | 329M | 276M | 484M | 534M | 403M | 962M | 655M | 225M | 547M | 792M | 896M |
| Net Margin | 7.1% | 7.3% | 2.5% | 1.9% | 3.0% | 3.0% | 2.4% | 5.0% | 3.1% | 1.1% | 2.3% | 3.0% | 3.3% |
| Non-Recurring | 51M | 54M | 127M | 56M | 83M | 312M | 262M | 160M | 344M | 201M | 46M | 92M | -32M |
| Returns on Capital | |||||||||||||
| ROIC | 15.6% | 15.6% | 12.0% | 10.2% | 13.2% | 11.5% | 7.9% | 12.6% | 10.7% | 8.0% | 9.6% | 11.6% | 11.3% |
| ROE | 16.9% | 17.3% | 12.0% | 9.0% | 13.8% | 12.1% | 7.6% | 16.4% | 10.7% | 3.7% | 8.4% | 11.1% | 12.3% |
| ROA | 8.0% | 7.8% | 4.8% | 3.3% | 5.0% | 4.5% | 2.9% | 6.4% | 4.2% | 1.4% | 3.3% | 4.6% | 5.0% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 499M | 376M | 223M | 799M | 604M | 484M | 1.1B | 972M | 200M | 576M | 785M | 1.2B | 1.2B |
| Free Cash Flow | 475M | 375M | 123M | 796M | 557M | 296M | 965M | 797M | -5.9M | 389M | 600M | 979M | 971M |
| Owner Earnings | 389M | 258M | 54M | 606M | 418M | 253M | 852M | 737M | -34M | 334M | 527M | 939M | -251M |
| CapEx | 24M | 1.3M | 100M | 2.3M | 47M | 188M | 149M | 176M | 206M | 187M | 186M | 216M | 236M |
| Maint. CapEx | 94M | 108M | 142M | 167M | 186M | 202M | 226M | 218M | 228M | 238M | 256M | 253M | 1.5B |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 94M | 108M | 142M | 167M | 186M | 202M | 226M | 218M | 228M | 238M | 256M | 253M | 1.5B |
| CapEx/OCF | 31.5% | 0.3% | 46.5% | 0.3% | 26.8% | 38.8% | 13.4% | 18.1% | 103.0% | 32.5% | 23.6% | 18.1% | 19.6% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 22M | 26M | 29M | 33M | 38M | 43M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | 0.4% | 0.4% | 0.6% | 0.6% | 0.5% | 0.6% | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 100M | 343M | 601M | 62M | 81M | 212M | 492M |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | 1.3% | 2.5% | 7.9% | 0.7% | 0.7% | 1.3% | 3.3% |
| Stock-Based Comp | 16M | 10M | 27M | 25M | 0 | 28M | 37M | 18M | 6.1M | 3.4M | 2.3M | 2.7M | 2.2M |
| Debt Repayment | 19M | 3.8M | 0 | 16M | 3.1B | 5.3B | 5.7B | 4.9B | 6.5B | 8.3B | 8.6B | 9.2B | 9.2B |
| Balance Sheet | |||||||||||||
| Net Debt | 44M | 105M | 104M | 205M | 223M | 1.2B | 1.1B | 1.1B | 929M | 1.0B | 1.4B | 1.2B | 1.2B |
| Cash & Equiv. | 250M | 217M | 259M | 268M | 481M | 452M | 574M | 594M | 519M | 410M | 416M | 599M | 436M |
| Long-Term Debt | 275M | 272M | 273M | 396M | 672M | 665M | 724M | 396M | 373M | 400M | 757M | 806M | 825M |
| Debt/Equity | 0.12 | 0.12 | 0.13 | 0.14 | 0.19 | 0.33 | 0.30 | 0.27 | 0.24 | 0.23 | 0.27 | 0.24 | 0.22 |
| Interest Coverage | 16.4 | 18.8 | 10.1 | 9.7 | 13.8 | 12.7 | 10.6 | 26.0 | 11.5 | 4.3 | 6.3 | 10.2 | 10.2 |
| Equity | 2.4B | 2.7B | 2.8B | 3.3B | 3.7B | 5.1B | 5.5B | 6.2B | 6.0B | 6.3B | 6.8B | 7.5B | 7.3B |
| Total Assets | 5.1B | 6.2B | 7.6B | 9.3B | 10.0B | 13.7B | 14.3B | 15.5B | 15.6B | 16.1B | 16.8B | 17.8B | 17.9B |
| Total Liabilities | 2.7B | 3.5B | 4.8B | 5.9B | 6.3B | 8.5B | 8.7B | 9.1B | 9.4B | 9.7B | 9.9B | 10.2B | 10.5B |
| Intangibles | 39M | 227M | 295M | 305M | 337M | 683M | 680M | 887M | 859M | 785M | 724M | 667M | 650M |
| Retained Earnings | 1.6B | 2.0B | 2.3B | 2.6B | 3.1B | 3.6B | 4.0B | 4.9B | 5.6B | 5.8B | 6.3B | 7.1B | 7.2B |
| Working Capital | 71M | 146M | 333M | 227M | 444M | 378M | 326M | -99M | 658M | 411M | 334M | 793M | 918M |
| Current Assets | 2.1B | 2.7B | 3.3B | 4.5B | 5.2B | 5.9B | 6.5B | 6.4B | 6.6B | 6.9B | 7.5B | 8.2B | 8.3B |
| Current Liabilities | 2.0B | 2.5B | 3.0B | 4.3B | 4.8B | 5.5B | 6.1B | 6.5B | 5.9B | 6.4B | 7.1B | 7.4B | 7.4B |
| Per Share Data | |||||||||||||
| EPS | 8.52 | 9.65 | 7.23 | 6.03 | 10.54 | 10.87 | 7.70 | 18.47 | 13.27 | 4.67 | 11.30 | 16.40 | 19.08 |
| Owner EPS | 8.58 | 5.67 | 1.18 | 13.25 | 9.10 | 5.15 | 16.29 | 14.16 | -0.70 | 6.92 | 10.89 | 19.43 | -5.42 |
| Book Value | 52.72 | 59.19 | 61.25 | 72.97 | 80.37 | 104.11 | 105.62 | 118.80 | 122.07 | 130.40 | 139.94 | 155.34 | 157.80 |
| Cash Flow/Share | 11.02 | 8.27 | 4.89 | 17.45 | 13.15 | 9.84 | 21.32 | 18.68 | 4.05 | 11.93 | 16.23 | 24.72 | 50.78 |
| Dividends/Share | 0.56 | 0.56 | 0.64 | 0.72 | 0.82 | 0.86 | 0.00 | 0.00 | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 45.3M | 45.4M | 45.5M | 45.8M | 45.9M | 49.2M | 52.3M | 52.1M | 49.3M | 48.3M | 48.4M | 48.3M | 46.3M |
| Valuation | |||||||||||||
| P/E Ratio | 17.4 | 16.1 | 14.1 | 24.7 | 12.2 | 15.9 | 19.8 | 14.6 | 11.7 | 40.7 | 22.3 | 21.2 | 17.1 |
| P/FCF | 14.2 | 18.8 | 36.6 | 8.6 | 10.6 | 28.8 | 8.3 | 17.6 | N/A | 23.6 | 20.3 | 17.1 | 15.5 |
| EV/EBIT | 13.5 | 13.0 | 9.8 | 12.9 | 8.0 | 11.7 | 12.3 | 12.9 | 8.2 | 15.8 | 14.2 | 14.9 | 13.7 |
| Price/Book | 2.8 | 2.6 | 1.6 | 2.0 | 1.6 | 1.7 | 1.4 | 2.3 | 1.3 | 1.5 | 1.8 | 2.2 | 2.1 |
| Price/Sales | 1.0 | 1.2 | 0.7 | 0.4 | 0.4 | 0.4 | 0.4 | 0.6 | 0.5 | 0.4 | 0.5 | 0.5 | 0.6 |
| FCF Yield | 7.1% | 5.3% | 2.7% | 11.7% | 9.5% | 3.5% | 12.1% | 5.7% | -0.1% | 4.2% | 4.9% | 5.8% | 6.4% |
| Market Cap | 6.7B | 7.0B | 4.5B | 6.8B | 5.9B | 8.5B | 8.0B | 14.0B | 7.6B | 9.2B | 12.2B | 16.8B | 15.1B |
| Avg. Price | 121.93 | 157.99 | 110.31 | 120.12 | 154.38 | 146.18 | 120.50 | 210.07 | 195.36 | 155.68 | 221.44 | 272.41 | 325.45 |
| Year-End Price | 148.40 | 154.92 | 98.70 | 148.96 | 128.23 | 173.25 | 152.81 | 268.80 | 154.69 | 189.98 | 252.11 | 346.96 | 325.45 |
JONES LANG LASALLE INC passes 5 of 9 quality checks, suggesting mixed fundamentals.
JONES LANG LASALLE INC trades at 19.8x trailing earnings, compared to its 15-year median P/E of 17.9x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 15.6x vs a median of 17.6x. The company's 5-year average ROIC is 10.5%. Total shareholder yield (buybacks) is 3.3%. At current prices, the estimated annualized return to fair value is -5.5%.
JONES LANG LASALLE INC (JLL) has a net profit margin of 3.0%. This is a modest margin.
JONES LANG LASALLE INC (JLL) generated $979 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
JONES LANG LASALLE INC (JLL) has a debt-to-equity ratio of 0.24. This indicates a conservatively financed balance sheet.
JONES LANG LASALLE INC (JLL) reported earnings per share (EPS) of $16.40 in its most recent fiscal year.
JONES LANG LASALLE INC (JLL) has a return on equity (ROE) of 11.1%. This indicates moderate shareholder returns.
The Ledger Terminal provides 18 years of financial data for JONES LANG LASALLE INC (JLL), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
JONES LANG LASALLE INC (JLL) has a book value per share of $155.34, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects continued revenue growth across core resilient business lines in 2026, with Real Estate Management Services benefiting from strong pipelines particularly in the second half, and transactional businesses (leasing and capital markets) supported by improved sentiment, robust global economic conditions, and increased investor capital deployment. The company anticipates gradual recovery in advisory fee growth as newly raised private equity capital deploys over coming quarters, while property management contract turnover in Asia Pacific is expected to complete by year-end with revenue headwinds offset by strength in the Americas. Management remains focused on driving operating leverage and margin expansion through organic revenue growth and platform efficiency, with expectations for healthy incremental margins in capital markets and continued investment in talent and technology capabilities to support long-term profitable growth.
Based on recent SEC filings and earnings calls, JONES LANG LASALLE INC (JLL) has provided the following forward guidance: Adjusted EPS: $21.80–$23.50 (FY2026); Adjusted EBITDA: $1.575 billion–$1.675 billion (FY2026).