Jones Lang LaSalle Incorporated (JLL) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q4 26	$4.55	$5.26	+15.6%	—	—	—
Q3 26	$3.01	$3.43	+14.0%	—	—	—
Q2 26	$7.36	$8.71	+18.3%	—	—	—
Q1 26	$4.27	$4.5	+5.4%	—	—	—
Q4 25	$3.2	$3.3	+3.1%	—	—	—
Q3 25	$2.18	$2.31	+6.0%	—	—	—
Q2 25	$6.01	$6.15	+2.3%	—	—	—
Q1 25	$2.74	$3.5	+27.7%	—	—	—
Q4 24	$2.42	$2.55	+5.4%	—	—	—
Q3 24	$0.86	$1.78	+107.0%	—	—	—
Q2 24	$3.73	$4.23	+13.4%	—	—	—
Q1 24	$2.01	$2.01	0.0%	—	—	—
Q4 23	$2.02	$0.5	-75.2%	—	—	—
Q3 23	$1.73	$0.65	-62.4%	—	—	—
Q2 23	$4.56	$4.36	-4.4%	—	—	—
Q1 23	$4.48	$3.4	-24.1%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$16.7	—	—	$26.1B	—
FY24	—	$11.5	—	—	$23.4B	—
FY23	—	$4.73	—	—	$20.8B	—
FY22	—	$13.5	—	—	$20.9B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$13B	$14.5B	$16.3B	$18B	$16.6B	$19.4B	$20.9B	$20.8B	$23.4B	$26.1B
YoY change	+117.8%	+11.3%	+12.9%	+10.2%	-7.75%	+16.7%	+7.72%	-0.49%	+12.9%	+11.4%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	13B	14.5B	16.3B	18B	16.6B	19.4B	20.9B	20.8B	23.4B	26.1B
Cost of revenue	6.1B	6.5B	7.2B	8B	7.7B	8.3B	—	—	—	—
Gross profit	6.9B	8B	9.1B	10B	8.9B	11B	—	—	—	—
Gross margin	53.2%	55.1%	55.7%	55.8%	53.6%	57%	—	—	—	—
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	4B	4.6B	5.2B	5.8B	7.7B	9.5B	10B	9.8B	11B	11.9B
Operating expenses	6.2B	7.2B	8.2B	8.9B	15.7B	18B	19.7B	19.8B	22.3B	24.7B
Operating income	524.2M	576.6M	745.7M	899.8M	701.5M	1.1B	972.9M	677.2M	891.2M	1.2B
Operating margin	4.04%	3.99%	4.57%	5%	4.23%	5.83%	4.66%	3.26%	3.8%	4.49%
Non-operating income, net	-15.2M	15.4M	11.4M	-145.8M	-119.1M	135.5M	96.5M	-289.9M	-75M	-84.3M
Pretax income	463.7M	535.8M	706M	697.6M	529.6M	1.2B	994.2M	251.9M	679.3M	981.7M
Income tax	117.8M	256.3M	214.3M	159.7M	106.9M	264.3M	200.8M	25.7M	132.5M	189.5M
Net income	345.9M	279.5M	491.7M	537.9M	422.7M	959.3M	793.4M	226.2M	546.8M	792.2M
Net margin	2.66%	1.93%	3.01%	2.99%	2.55%	4.95%	3.8%	1.09%	2.33%	3.03%
EBITDA	734.5M	774.5M	970.6M	1.3B	1.1B	1.4B	1.3B	1B	1.2B	1.5B
EPS	7.04	5.6	10.6	11	7.79	18.9	13.5	4.73	11.5	16.7
Diluted EPS	6.98	5.55	10.5	10.9	7.7	18.5	13.3	4.67	11.3	16.4

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	5.1B	5.9B	5.1B	5.6B	5.9B	6.8B	5.7B	6.3B	6.5B	7.6B	6.4B	6.9B
Cost of revenue	—	—	—	—	—	—	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—	—	—	—	—	—	—
Gross margin	—	—	—	—	—	—	—	—	—	—	—	—
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	2.4B	2.7B	2.4B	2.6B	2.9B	3.1B	2.7B	2.8B	3B	3.4B	2.9B	3.1B
Operating expenses	4.9B	5.5B	4.9B	5.4B	5.6B	6.4B	5.5B	6B	6.2B	7B	6.1B	6.6B
Operating income	150.7M	312M	115.9M	163.9M	219.5M	391.9M	139.7M	218.7M	285.4M	529.5M	209.9M	316.6M
Operating margin	2.95%	5.3%	2.26%	2.91%	3.74%	5.75%	2.43%	3.5%	4.38%	6.96%	3.29%	4.57%
Non-operating income, net	-39.8M	-95.4M	-3.3M	-17.2M	10.8M	-64.7M	-43.6M	-46.2M	18.8M	-13.3M	4.6M	-24.6M
Pretax income	73.8M	185.1M	81.5M	105M	192.2M	300.6M	71.5M	137.2M	275M	498M	197.5M	265.6M
Income tax	14.5M	12.7M	15.9M	20.5M	37.4M	58.7M	14M	26.7M	52.6M	96.2M	38.1M	51.3M
Net income	59.3M	172.4M	65.6M	84.5M	154.8M	241.9M	57.5M	110.5M	222.4M	401.8M	159.4M	214.3M
Net margin	1.16%	2.93%	1.28%	1.5%	2.64%	3.55%	1%	1.77%	3.42%	5.28%	2.5%	3.09%
EBITDA	241.4M	395.5M	178M	237.7M	276.2M	477.6M	231M	307.7M	354.7M	608M	273M	399.5M
EPS	1.25	3.63	1.39	1.77	3.26	5.07	1.17	2.36	4.71	8.53	3.4	4.66
Diluted EPS	1.23	3.57	1.37	1.75	3.2	4.97	1.14	2.32	4.61	8.34	3.33	4.59

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	4.6B	6.7B	5.8B	8.5B	7.7B	13.7B	7.7B	9B	12B	15.9B	14.5B
Enterprise value	6.2B	7.5B	6.3B	10.7B	10.2B	15.7B	10.3B	11.7B	14.6B	17.9B	17.7B
Shares outstanding	45.2M	45.3M	45.5M	48.6M	51.7M	50.9M	48.5M	47.6M	47.5M	47.4M	47.4M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	13.2	24.1	11.7	15.7	18.1	14.3	9.73	39.8	22	20.1	15.1
P/S	0.35	0.47	0.35	0.47	0.46	0.71	0.37	0.43	0.51	0.61	0.53
P/B	1.62	2	1.54	1.62	1.36	2.14	1.26	1.4	1.74	2.09	1.94
EV/EBITDA	8.38	9.74	6.48	8.34	9.53	11	7.92	11.5	12.4	11.9	10.5
EV/Sales	0.47	0.52	0.39	0.6	0.61	0.81	0.5	0.56	0.62	0.69	0.65
Earnings yield	7.58%	4.14%	8.53%	6.35%	5.51%	7%	10.3%	2.51%	4.55%	4.97%	6.64%
FCF yield	0.14%	9.59%	7.67%	3.5%	12.6%	5.81%	-0.08%	4.32%	4.99%	6.14%	10.4%
PEG	—	—	—	—	—	—	—	—	—	—	0.15

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	53.2%	55.1%	55.7%	55.8%	53.6%	57%	—	—	—	—	—
Operating margin	4.04%	3.99%	4.57%	5%	4.23%	5.83%	4.66%	3.26%	3.8%	4.49%	4.57%
Net margin	2.66%	1.93%	3.01%	2.99%	2.55%	4.95%	3.8%	1.09%	2.33%	3.03%	3.64%
ROE	12.3%	8.26%	13.2%	10.3%	7.52%	14.9%	12.9%	3.53%	7.93%	10.4%	13.5%
ROA	4.53%	3.02%	4.9%	3.93%	2.95%	6.19%	5.09%	1.41%	3.26%	4.45%	4.82%
ROIC	8.87%	7.2%	12.2%	9.28%	6.87%	10.5%	8.85%	6.67%	7.61%	9.85%	10.5%
Return on tangible assets	18.4%	8.66%	12.4%	13.5%	9.38%	21.3%	16.5%	4.25%	8.97%	11.2%	14.8%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.11	1.05	1.09	1.07	1.05	0.98	1.11	1.06	1.05	1.11	1.13
Quick ratio	1.11	1.05	1.09	1.07	1.05	0.98	1.11	1.06	1.05	1.11	1.13
Debt / equity	0.65	0.31	0.27	0.52	0.55	0.41	0.51	0.49	0.43	0.34	0.42
Debt / assets	0.24	0.11	0.1	0.2	0.22	0.17	0.2	0.19	0.18	0.15	0.18
Net debt / EBITDA	2.16	1.03	0.54	1.76	2.36	1.42	2.01	2.66	2.16	1.33	1.69
Interest coverage	11.6	10.3	14.6	16	—	—	—	—	—	—	—
Effective tax rate	25.4%	47.8%	30.4%	22.9%	20.2%	21.6%	20.2%	10.2%	19.5%	19.3%	19.3%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	287.7	318.9	358.5	369.7	321	380.4	430.6	435.9	493.4	551.5	585.2
EPS (basic)	7.04	5.6	10.6	11	7.79	18.9	13.5	4.73	11.5	16.7	16.7
EPS (diluted)	6.98	5.55	10.5	10.9	7.7	18.5	13.3	4.67	11.3	16.4	20.9
Book value per share	62.5	74.6	82	107.2	108.7	126.1	126.9	134.6	145.2	161	162.2
FCF per share	0.14	14.3	9.72	6.08	18.7	15.6	-0.12	8.17	12.6	20.7	23.9
Cash per share	5.72	5.91	10.6	9.29	11.1	11.7	10.7	8.61	8.77	12.7	9.96
Capex per share	4.79	3.34	3.56	3.86	2.89	3.45	4.25	3.92	3.91	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	1.66%	1.05%	0.99%	1.04%	0.9%	0.91%	0.99%	0.9%	0.79%	—	—
Capex / operating cash flow	75.9%	33.5%	37.1%	28.3%	15.1%	22.9%	34.8%	44.3%	31.4%	—	—
Payout ratio	8.5%	11.8%	7.69%	7.94%	0%	0%	—	—	—	—	0%
Dividend yield	0.64%	0.49%	0.66%	0.5%	0%	0%	—	—	—	—	0.27%

Yield

0.27%

trailing twelve months

Frequency

Semi-annual

Last dividend

$0.43

ex-dividend Nov 14, 2019

Payout ratio

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Nov 14, 2019	$0.43
May 16, 2019	$0.43
Nov 15, 2018	$0.41
May 17, 2018	$0.41
Nov 15, 2017	$0.37
May 11, 2017	$0.35
Nov 10, 2016	$0.33
May 11, 2016	$0.31

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$5.1B	$5.9B	$5.1B	$5.6B	$5.9B	$6.8B	$5.7B	$6.3B	$6.5B	$7.6B	$6.4B	$6.9B
YoY change	-1.28%	+4.94%	+8.67%	+11.4%	+14.8%	+15.8%	+12.1%	+11%	+10.9%	+11.7%	+11.1%	+10.8%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	258.5M	268M	480.9M	451.9M	574.3M	593.7M	519.3M	410M	416.3M	599.1M
Receivables	1.9B	1.7B	1.9B	2B	1.6B	2B	1.6B	1.6B	1.6B	1.8B
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	3.3B	4.5B	5.2B	5.9B	6.5B	6.4B	6.6B	6.9B	7.5B	8.2B
Property, plant & equipment	501M	543.9M	567.9M	1.5B	1.4B	1.5B	1.4B	1.3B	1.3B	1.3B
Goodwill & intangibles	5.7B	6B	6.1B	9.7B	9.8B	11B	10.8B	10.7B	10.7B	10.7B
Total assets	7.6B	9.3B	10B	13.7B	14.3B	15.5B	15.6B	16.1B	16.8B	17.8B
Accounts payable	—	993.1M	1.3B	1.3B	1.2B	1.3B	1.2B	1.4B	1.3B	1.4B
Short-term debt	669.6M	386.6M	350.6M	789.4M	1.7B	1.4B	775.9M	972.5M	1.4B	1B
Total current liabilities	3B	4.3B	4.8B	5.5B	6.1B	6.5B	5.9B	6.4B	7.1B	7.4B
Long-term debt	1.2B	675.3M	655.6M	1.9B	1.4B	1.2B	2.4B	2.1B	1.6B	1.6B
Total liabilities	4.8B	5.9B	6.3B	8.5B	8.7B	9.1B	9.4B	9.7B	9.9B	10.2B
Shareholders' equity	2.8B	3.4B	3.7B	5.2B	5.6B	6.4B	6.1B	6.4B	6.9B	7.6B
Total debt	1.8B	1.1B	1B	2.7B	3.1B	2.6B	3.1B	3.1B	2.9B	2.6B
Net debt	1.6B	793.9M	525.3M	2.3B	2.5B	2B	2.6B	2.7B	2.5B	2B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	389.5M	410M	396.7M	424.4M	437.8M	416.3M	432.4M	401.4M	428.9M	599.1M	436.2M	458.2M
Receivables	1.9B	1.6B	1.9B	1.9B	2B	1.6B	2B	2B	2B	1.8B	2.2B	2.2B
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	6.4B	6.9B	6.3B	6.6B	8.4B	7.5B	7.2B	7.9B	7.6B	8.2B	8.3B	7.8B
Property, plant & equipment	1.3B	1.3B	1.3B	1.4B	1.3B	1.3B	1.3B	1.3B	1.3B	1.3B	1.3B	1.3B
Goodwill & intangibles	10.7B	10.7B	10.7B	10.7B	10.8B	10.7B	10.7B	10.8B	10.8B	10.7B	10.7B	10.7B
Total assets	15.5B	16.1B	15.5B	15.9B	17.8B	16.8B	16.6B	17.3B	17.2B	17.8B	17.9B	17.5B
Accounts payable	1.1B	1.4B	1.2B	1.2B	1.2B	1.3B	1.2B	1.2B	1.2B	1.4B	1.2B	1.2B
Short-term debt	851M	972.5M	604.9M	937.3M	3.1B	1.4B	1.7B	2.2B	1.7B	1B	2.1B	1.6B
Total current liabilities	5.4B	6.4B	5.1B	5.5B	8B	7.1B	6.6B	7.2B	7B	7.4B	7.4B	7B
Long-term debt	2.7B	2.1B	2.9B	2.8B	1.9B	1.6B	1.9B	1.9B	1.8B	1.6B	1.9B	1.7B
Total liabilities	9.3B	9.7B	9.1B	9.4B	11B	9.9B	9.7B	10.2B	9.9B	10.2B	10.5B	9.9B
Shareholders' equity	6.2B	6.4B	6.4B	6.5B	6.8B	6.9B	7B	7.2B	7.3B	7.6B	7.4B	7.6B
Total debt	3.6B	3.1B	3.5B	3.7B	5B	2.9B	3.7B	4.1B	3.5B	2.6B	4B	3.2B
Net debt	3.2B	2.7B	3.1B	3.3B	4.6B	2.5B	3.2B	3.7B	3.1B	2B	3.5B	2.8B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	345.9M	279.5M	491.7M	537.9M	422.7M	959.3M	793.4M	226.2M	546.8M	792.2M
Depreciation & amortization	141.8M	167.2M	186.1M	202.4M	226.4M	217.5M	228.1M	238.4M	255.8M	252.8M
Stock-based compensation	30.1M	24.9M	26.8M	74.2M	83.8M	96.4M	85.8M	78.3M	97.4M	114.7M
Change in working capital	-260.7M	-5.4M	-262.9M	-167.8M	275.7M	-496.4M	-527M	-142.5M	-313.9M	-167M
Operating cash flow	284.9M	451.7M	436.6M	663.3M	986.6M	767.2M	591M	422.2M	591.7M	1.2B
Capital expenditure	-216.2M	-151.4M	-161.9M	-187.8M	-149.4M	-175.9M	-205.8M	-186.9M	-185.5M	—
Investing cash flow	-764M	-215.5M	-332.3M	-1.2B	-212.1M	-879.8M	-267.5M	-314.1M	-336M	-172.8M
Dividends paid	-29.4M	-33.1M	-37.8M	-42.7M	0	0	—	—	—	—
Share repurchases	-7M	-6.6M	-12.4M	-13.6M	-123.5M	-395.8M	-688.4M	-92.2M	-112.5M	-251.1M
Financing cash flow	1.3B	-1.6B	-182.7M	584.6M	-835.5M	-143.8M	-13.1M	-374.3M	-1.2B	-4.6B
Net change in cash	843.5M	-1.3B	-78.4M	84.4M	-61M	-256.4M	310.4M	-266.2M	-905.5M	-3.6B
Free cash flow	6.4M	647.3M	442.2M	296M	965.3M	796.5M	-5.9M	388.9M	599.8M	978.5M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	59.3M	172.4M	65.6M	84.5M	154.8M	241.9M	57.5M	110.5M	222.4M	401.8M	159.4M	214.3M
Depreciation & amortization	59.1M	61.9M	61M	62.3M	65.5M	67M	71.6M	67.7M	57.6M	55.9M	57.8M	57.2M
Stock-based compensation	6.5M	18.8M	11.2M	45.6M	22.1M	18.5M	22M	44M	22.4M	26.3M	23.3M	54.8M
Change in working capital	-11.2M	119.2M	-216.1M	-38M	-118.3M	58.5M	-302.3M	109.1M	76.9M	-50.7M	-378M	84.9M
Operating cash flow	126.5M	375.6M	-85.5M	163.5M	121.1M	392.6M	-142.6M	332.8M	617.1M	1B	-755M	488.1M
Capital expenditure	-49.5M	-49.2M	-43.2M	-38.2M	-44.9M	-59.2M	-44.5M	—	—	—	—	—
Investing cash flow	-134.7M	37.2M	-60M	-64.4M	-110.6M	-14.1M	-157.7M	-19.8M	-148.3M	145.4M	-18.2M	-13.3M
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	-19.9M	-52.8M	-20M	-20.4M	-20M	-52.1M	-19.7M	-40.2M	-70.3M	-120.9M	-300M	-109M
Financing cash flow	-263.8M	-605.5M	684.7M	-133.5M	-275.2M	-1.4B	533.5M	-998.9M	-1.8B	-2.4B	-310.6M	-1.5B
Net change in cash	-272M	-192.7M	539.2M	-34.4M	-264.7M	-1.1B	233.2M	-685.9M	-1.3B	-1.3B	-1.1B	-988.2M
Free cash flow	276.2M	680.2M	-720.7M	235.7M	216.7M	868.1M	-812.1M	288.4M	567.6M	934.6M	-819.9M	438M

Jones Lang LaSalle Incorporated Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement