JCI
Johnson Controls International plc
Industrials • CIK: 0000833444
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Market Cap
$71.66B
P/E (TTM)
21.8x
Rev Growth (TTM)
+2.8%
Net Margin (TTM)
13.9%
FCF Yield (TTM)
-0.6%
FCF Margin (TTM)
-1.8%
Cash Flow Health
Free Cash Flow1/8 positive
TTM$-434M
Q4 '25
$-130M-38%
Q3 '25
$-94M-0%
FCF Margin
TTM-1.8%
Q4 '25-2.0%-30%
Sector: 7.3%Below Avg
OCF Margin–
OCF/NI–
CapEx Coverage–
FCF Yield-0.6%
FCF Growth (2Y)–
Cash Conversion Cycle
54 days
DSO: 92+DIO: 43−DPO: 81
Capital Allocation & Returns
Shareholder Friendly
Total Shareholder YieldTTM
TTM9.7%
Div Yield1.4%
+Buyback (TTM)8.4%
Strong capital returns to shareholders
Dividend & Payout Metrics
Dividend Yield (TTM)1.4%
Free Cash Flow (TTM)$-434.0M
Stock Repurchases (TTM)$6.0B
Capital Return / FCF-1605.3%
Est. Dividends Paid (TTM)$984.2M
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
10.3%
Moderate
+0.2% YoY+3.8%
P25MedianP75
75th pctl (med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
10.5%
8Q: 10.3%
Asset Turnover
0.56x
8Q: 0.54x
Leverage (1+D/E)
1.72x
D/E: 0.72x
DuPont: 10.1% ≈ 10.3% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
9.84x
8Q:9.12x
+443.8%
Invested Cap Turn
0.98x
8Q:0.95x
+24.7%
CapEx Intensity
1.8%
8Q:1.7%
CapEx/Depreciation
0.50x
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $23.6B | $6.4B↑6.4% | $6.1B↑6.6% | $5.7B↑4.6% | $5.4B↓13.2% | $6.2B↑5.9% | $5.9B↑5.4% | $5.6B↑7.4% | $5.2B |
Operating Income | $2.8B | $830.0M↑0.1% | $829.0M↑29.1% | $642.0M↑21.8% | $527.0M↓41.4% | $900.0M↓25.9% | $1.2B↑954.9% | $-142.0M↓132.0% | $444.0M |
Net Income | $3.3B | $1.7B↑141.5% | $701.0M↑46.7% | $478.0M↑14.1% | $419.0M↓33.8% | $633.0M↓35.1% | $975.0M↑452.0% | $-277.0M↓174.1% | $374.0M |
Operating Cash Flow | N/A | $1.0B↑603.0% | $-203.0M↑17.5% | $-246.0M↓130.3% | $813.0M↑158.9% | $314.0M | N/A | N/A | N/A |
Free Cash Flow | $-434.0M | $-130.0M↓38.3% | $-94.0M↓0.0% | $-94.0M↑19.0% | $-116.0M↑40.5% | $-195.0M↓120.9% | $932.0M↑381.6% | $-331.0M↓0.9% | $-328.0M |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
21.8x
Valuation Lenses
Earnings
21.8x
vs – sector
Cash Flow
-55.6x
EV/FCF vs –
Growth-Adj
0.2xPEG
Undervalued for growth
Quality-Adj
2.1P/E per %ROIC
ROIC: 10.3%
Shareholder Returns
Dividend
1.4%
Buyback
8.4%
Total Yield
9.7%
Market Cap$71.66B
EV–
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
77/100
High Quality
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Top 25%
21.2%
8Q:–
Return on Invested Capital (ROIC)Top 25%
10.3%
8Q:–
+3.8%
vs Sector:0.1%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: 10.5%
Asset Turnover: 0.56x
Earnings Quality
Cash Conversion
–
OCF / Net Income
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin36.4%
Capital Efficiency
Invested Capital Turnover0.98x
Working Capital
Cash Conversion Cycle54 days
Growth Quality & Momentum
Moderate Growth
Growth Quality Score
53/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
2.8%
OpInc Growth YoY
-7.8%
EPS Growth YoY
98.8%
FCF 3Y CAGR
N/A
Margin Quality & Sustainability
Low Quality
Profitability Cascade
Gross
36.4%
Operating
12.0%
Above Avg in sector
Net
13.9%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
-15.8 pts
FCF: -1.8% | Net: 13.9%
FCF margin lags net margin by 15.8 pts
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Adequate
Net Debt / EBITDA
–Net Debt: $8.94B
Interest Coverage
–
Leverage Metrics
Debt-to-Equity
0.72x
Balance sheet risk & solvency analysis