JLL
JONES LANG LASALLE INC
Real Estate • CIK: 0001037976
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Market Cap
$15.93B
P/E (TTM)
20.1x
Rev Growth (TTM)
+11.4%
Net Margin (TTM)
3.0%
FCF Yield (TTM)
7.5%
FCF Margin (TTM)
4.6%
Cash Flow Health
Free Cash Flow6/8 positive
TTM$1.2B
Q4 '25
$1.0B+64%
Q3 '25
$617M+85%
FCF Margin
TTM4.6%
Q4 '2513.3%+40%
Sector: 13.8%Below Avg
OCF Margin4.6%
OCF/NI1.51x
CapEx Coverage–
FCF Yield7.5%
FCF Growth (2Y)+81%
Cash Conversion Cycle
29 days
DSO: 29+DIO: –−DPO: –
Capital Allocation & Returns
Growth Focused
Total Shareholder YieldTTM
TTM1.3%
Div Yield0.0%
+Buyback (TTM)1.3%
Prioritizing reinvestment over distributions
Dividend & Payout Metrics
Dividend Yield (TTM)0.0%
Free Cash Flow (TTM)$1.2B
Stock Repurchases (TTM)$211.5M
Capital Return / FCF17.7%
Est. Dividends Paid (TTM)$0
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
–
P25MedianP75
(med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
–
Asset Turnover
1.53x
8Q: 1.45x
Leverage (1+D/E)
1.00x
D/E: -0.00x
Asset & CapEx Efficiency
Fixed Asset Turn
43.76x
8Q:40.89x
+1209.1%
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 | $26.1B | $7.6B↑16.9% | $6.5B↑4.2% | $6.3B↑8.8% | $5.7B↓15.6% | $6.8B↑16.1% | $5.9B↑4.3% | $5.6B↑9.8% | $5.1B |
Operating Income | $1.1B | $506.9M↑85.2% | $273.7M↑38.7% | $197.4M↑64.5% | $120.0M↓67.8% | $373.2M↑63.5% | $228.3M↑49.8% | $152.4M↑33.5% | $114.2M |
Net Income | $792.1M | $401.7M↑80.3% | $222.8M↑98.4% | $112.3M↑103.1% | $55.3M↓77.1% | $241.2M↑55.5% | $155.1M↑83.8% | $84.4M↑27.7% | $66.1M |
Operating Cash Flow | $1.2B | $1.0B↑64.0% | $617.1M↑85.4% | $332.8M↑143.4% | $-767.6M↓182.8% | $927.3M↑254.5% | $261.6M↓4.5% | $273.9M↑140.4% | $-677.5M |
Free Cash Flow | $1.2B | $1.0B↑64.0% | $617.1M↑85.4% | $332.8M↑143.4% | $-767.6M↓182.8% | $927.3M↑254.5% | $261.6M↓4.5% | $273.9M↑140.4% | $-677.5M |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
20.1x
Volatile
8Q: 95.6x-6081%
Valuation Lenses
Earnings
20.1x
vs – sector
Cash Flow
13.2x
EV/FCF vs –
Growth-Adj
0.4xPEG
Undervalued for growth
Quality-Adj
–P/E per %ROIC
ROIC: –
Shareholder Returns
Dividend
–
Buyback
1.3%
Total Yield
1.3%
Market Cap$15.93B
EV$15.76B
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
75/100
High Quality
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Top 25%
11.2%
8Q:–
Return on Invested Capital (ROIC)
–
8Q:–
vs Sector:0.1%
Earnings Quality
Cash Conversion
1.51x
OCF / Net Income ✓
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin–
Capital Efficiency
Invested Capital Turnover–
Working Capital
Cash Conversion Cycle29 days
Growth Quality & Momentum
Moderate Growth
Growth Quality Score
71/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
11.4%
OpInc Growth YoY
35.8%
EPS Growth YoY
45.1%
FCF 3Y CAGR
81.4%
Growth Quality Analysis
✓Efficient Growth: Free cash flow growing faster than revenue
✓Sustainability Index: 7.5/10 - Highly sustainable growth
Margin Quality & Sustainability
Low Quality
Profitability Cascade
Gross
—
Operating
—
Net
3.0%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
+1.5 pts
FCF: 4.6% | Net: 3.0%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Fortress
Net Debt / EBITDA
Net Cash
(0.0x)Net Cash: $899.10M
Interest Coverage
–
+Net cash position: $899.10M
Leverage Metrics
Debt-to-Equity
-0.00x
Balance sheet risk & solvency analysis