Jones Lang LaSalle Incorporated (JLL) 10-Year Financial Performance & Capital Metrics

JLL • • REIT / Real Estate

Real EstateReal Estate ServicesCommercial Real Estate ServicesGlobal Commercial Services

AboutJones Lang LaSalle Incorporated, a professional services company, provides real estate and investment management services in Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers a range of real estate services, including agency leasing and tenant representation services; and capital market services, such as debt advisory, loan sales, equity advisory, loan servicing, merger and acquisition, corporate advisory, and investment sales and advisory services. It also provides on-site management services for office, industrial, retail, multifamily residential, and specialty properties; integrated facilities management services; designing, building, management, and consulting services to tenants of leased space, owners in self-occupied buildings, and owners of real estate investments; and advisory, consulting, valuation, and energy and sustainability services. In addition, the company offers investment management services to institutional and retail investors, including high-net-worth individuals. It provides its services to real estate owners, occupiers, investors, and developers for various property types, including cultural, educational, government, healthcare, laboratory, hotel, hospitality, and sports facilities; industrial and warehouse, office, and residential properties; retail and shopping malls; critical environment, data, transportation, and sort and fulfillment centers; infrastructure projects; and military housings. The company was formerly known as LaSalle Partners Incorporated and changed its name to Jones Lang LaSalle Incorporated in March 1999. Jones Lang LaSalle Incorporated was incorporated in 1997 and is headquartered in Chicago, Illinois.Show more

Revenue $23.43B +12.9%
FFO $905M +61.1%
FFO/Share 18.71 +60.9%
FFO Payout 0%
FFO per Share 18.71 +60.9%
NOI Margin 51.81% +0.7%
FFO Margin 3.86% +42.8%
ROE 8.22% +129.0%
ROA 3.33% +133.9%
Debt/Assets 17.57% -9.4%
Net Debt/EBITDA 2.06 -30.5%
Book Value/Share 142.54 +7.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓FFO growing 20.9% TTM
✓Trading near 52-week high

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y15.75%

5Y18.49%

3Y6.56%

TTM12.51%

Profit (Net Income) CAGR

10Y3.54%

5Y0.43%

3Y-17.15%

TTM32.13%

EPS CAGR

10Y2.86%

5Y0.78%

3Y-15.11%

TTM31.85%

ROCE

10Y Avg10.58%

5Y Avg8.65%

3Y Avg8.09%

Latest9.02%

Peer Comparison

Global Commercial Services

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CBRECBRE Group, Inc.	50.84B	170.83	54.40	11.95%	3.12%	13.21%	2.93%	0.62
NMRKNewmark Group, Inc.	2.79B	17.52	51.53	10.85%	3.28%	6.4%		1.33
CIGIColliers International Group Inc.	7.32B	147.49	45.80	11.23%	2.15%	4.31%	3.57%	0.83
JLLJones Lang LaSalle Incorporated	16.71B	354.01	31.33	12.87%	2.49%	8.66%	3.59%	0.43
CWKCushman & Wakefield plc	3.95B	17.07	30.48	-0.5%	2.23%	11.41%	4.22%	1.89

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	5.97B	6.91B	7.97B	9.09B	10.03B	16.59B	19.37B	20.86B	20.76B	23.43B
Revenue Growth %	0.1%	0.16%	0.15%	0.14%	0.1%	0.65%	0.17%	0.08%	-0%	0.13%
Property Operating Expenses	1.73B	2.2B	2.6B	2.95B	3.12B	7.95B	8.49B	9.65B	10.07B	11.29B
Net Operating Income (NOI)+	-	-	-	-	-	-	-	-	-	-
NOI Margin %	-	-	-	-	-	-	-	-	-	-
Operating Expenses+	3.71B	4.25B	4.82B	5.43B	6.2B	8.08B	9.84B	10.34B	10.11B	11.27B
G&A Expenses	3.56B	4.03B	4.62B	5.21B	5.81B	7.71B	9.54B	10.01B	9.77B	10.99B
EBITDA+	637.9M	597.5M	713.1M	893M	917.8M	785.5M	1.26B	1.1B	912.6M	1.23B
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization+	108.1M	141.8M	167.2M	186.1M	202.4M	226.4M	217.5M	228.1M	336.1M	358M
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income+	529.8M	455.7M	545.9M	706.9M	715.4M	559.1M	1.04B	868.1M	576.5M	868.1M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense+	0	0	0	0	0	0	0	0	0	136.9M
Interest Coverage	-	-	-	-	-	-	-	-	-	6.34x
Non-Operating Income	-34.1M	-74.8M	-30.7M	-38.8M	-184.4M	-142.4M	-84.7M	-104.8M	-100.7M	-23.1M
Pretax Income+	579.1M	442.4M	535.8M	706M	697.6M	529.6M	1.22B	994.2M	251.9M	679.3M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	132.8M	108M	256.3M	214.3M	159.7M	106.9M	264.3M	200.8M	25.7M	132.5M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	438.7M	318.2M	276.4M	484.5M	535.3M	402.5M	961.6M	654.5M	225.4M	546.8M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.14%	-0.27%	-0.13%	0.75%	0.1%	-0.25%	1.39%	-0.32%	-0.66%	1.43%
Funds From Operations (FFO)+	-	-	-	-	-	-	-	-	-	-
FFO Margin %	-	-	-	-	-	-	-	-	-	-
FFO Growth %	0.14%	-0.16%	-0.04%	0.51%	0.1%	-0.15%	0.87%	-0.25%	-0.36%	0.61%
FFO per Share+	-	-	-	-	-	-	-	-	-	-
FFO Payout Ratio %	-	-	-	-	-	-	-	-	-	-
EPS (Diluted)+	9.65	7.23	6.03	10.54	10.87	7.70	18.47	13.27	4.67	11.30
EPS Growth %	0.13%	-0.25%	-0.17%	0.75%	0.03%	-0.29%	1.4%	-0.28%	-0.65%	1.42%
EPS (Basic)	9.75	7.29	6.09	10.64	10.99	7.79	18.89	13.51	4.73	11.51
Diluted Shares Outstanding	45.41M	45.53M	45.76M	45.93M	49.15M	52.28M	52.07M	49.34M	48.29M	48.37M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	6.19B	7.63B	9.25B	10.03B	13.67B	14.32B	15.51B	15.59B	16.06B	16.76B
Asset Growth %	0.22%	0.23%	0.21%	0.08%	0.36%	0.05%	0.08%	0.01%	0.03%	0.04%
Real Estate & Other Assets+	432.81M	418.1M	496.1M	649.9M	797.3M	859.7M	1.08B	1.02B	1.18B	1.28B
PP&E (Net)	423.3M	501M	543.9M	567.9M	1.51B	1.37B	1.46B	1.36B	1.34B	1.34B
Investment Securities	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Current Assets+	2.65B	3.3B	4.54B	5.21B	5.87B	6.45B	6.39B	6.57B	6.86B	7.48B
Cash & Equivalents	216.58M	258.5M	268M	480.9M	451.9M	574.3M	593.7M	519.3M	410M	416.3M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	764.7M	1.09B	2.2B	2.43B	2.92B	3.81B	3.25B	3.36B	3.83B	4.32B
Intangible Assets	227.19M	295M	305M	336.9M	682.6M	679.8M	887M	858.5M	785M	724.1M
Total Liabilities	3.46B	4.81B	5.87B	6.29B	8.46B	8.7B	9.08B	9.44B	9.65B	9.87B
Total Debt+	848.82M	1.85B	1.06B	1.01B	2.72B	3.1B	2.62B	3.14B	3.12B	2.95B
Net Debt	625.74M	1.59B	793.9M	525.3M	2.27B	2.53B	2.03B	2.62B	2.71B	2.53B
Long-Term Debt	511.9M	1.18B	675.3M	655.6M	1.18B	693.3M	533.8M	1.59B	1.39B	845.3M
Short-Term Borrowings	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Capital Lease Obligations	24.62M	0	0	175.8M	904.6M	849.6M	868.2M	932.2M	916.4M	906M
Total Current Liabilities+	2.51B	2.97B	4.31B	4.76B	5.49B	6.13B	6.49B	5.91B	6.45B	7.14B
Accounts Payable	0	0	993.1M	1.26B	1.29B	1.23B	1.26B	1.24B	1.41B	1.32B
Deferred Revenue	114.77M	129.8M	155.4M	190.4M	158.8M	192.9M	208.2M	216.5M	226.4M	203.8M
Other Liabilities	440.6M	642M	859.5M	840.9M	934.6M	1.07B	1.17B	975.7M	1.02B	1.08B
Total Equity+	2.73B	2.82B	3.38B	3.73B	5.21B	5.62B	6.42B	6.15B	6.41B	6.9B
Equity Growth %	0.13%	0.03%	0.2%	0.1%	0.4%	0.08%	0.14%	-0.04%	0.04%	0.08%
Shareholders Equity	2.69B	2.79B	3.34B	3.69B	5.12B	5.52B	6.18B	6.02B	6.29B	6.77B
Minority Interest	40.6M	31.8M	41.9M	43M	95.2M	97M	236.3M	128.6M	116.1M	123.6M
Common Stock	500K	500K	500K	500K	500K	500K	500K	500K	500K	500K
Additional Paid-in Capital	986.6M	1.01B	1.04B	1.06B	1.96B	2.02B	2.05B	2.02B	2.02B	2.03B
Retained Earnings	2.04B	2.33B	2.65B	3.1B	3.59B	3.98B	4.94B	5.59B	5.8B	6.33B
Preferred Stock	6.19M	0	0	0	0	0	0	0	0	0
Return on Assets (ROA)	0.08%	0.05%	0.03%	0.05%	0.05%	0.03%	0.06%	0.04%	0.01%	0.03%
Return on Equity (ROE)	0.17%	0.11%	0.09%	0.14%	0.12%	0.07%	0.16%	0.1%	0.04%	0.08%
Debt / Assets	0.14%	0.24%	0.11%	0.1%	0.2%	0.22%	0.17%	0.2%	0.19%	0.18%
Debt / Equity	0.31x	0.65x	0.31x	0.27x	0.52x	0.55x	0.41x	0.51x	0.49x	0.43x
Net Debt / EBITDA	0.98x	2.66x	1.11x	0.59x	2.47x	3.22x	1.61x	2.39x	2.97x	2.06x
Book Value per Share	60.10	61.97	73.91	81.31	106.06	107.45	123.32	124.63	132.74	142.54

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	375.8M	214.5M	789.2M	604.1M	483.8M	1.11B	972.4M	199.9M	575.8M	785.3M
Operating CF Growth %	-0.25%	-0.43%	2.68%	-0.23%	-0.2%	1.3%	-0.13%	-0.79%	1.88%	0.36%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	446.34M	334.4M	279.5M	491.7M	537.9M	422.7M	959.3M	793.4M	225.4M	546.8M
Depreciation & Amortization	108.1M	141.8M	167.2M	186.1M	202.4M	226.4M	217.5M	228.1M	238.4M	255.8M
Stock-Based Compensation	0	30.1M	25.2M	26.8M	74.2M	83.8M	96.4M	85.8M	78.3M	97.4M
Other Non-Cash Items	-3.14B	10.9M	1.5M	44.4M	11.8M	-22M	-9.6M	-96.5M	268.1M	12.7M
Working Capital Changes	-445.6M	-302.7M	315.8M	-119.7M	-342.5M	419.9M	-52.3M	-770.4M	-234.4M	-127.4M
Cash from Investing+	-584.62M	-802M	-170.8M	-280.4M	-1.05B	-170.6M	-805.8M	-243.1M	-290.4M	-316.8M
Acquisitions (Net)	2.94B	-580.3M	-18.7M	-97.7M	-801.3M	-80.3M	-416.8M	-5.7M	-13.6M	-57.2M
Purchase of Investments	0	0	-2.3M	0	-79.2M	0	-252M	-167.3M	-109.4M	-88.6M
Sale of Investments	0	0	0	0	0	1000K	0	1000K	0	0
Other Investing	-3.38B	-5.5M	1.6M	-20.8M	18.6M	58.1M	38.9M	900K	19.5M	14.5M
Cash from Financing+	191.6M	636.4M	-623.5M	-141.3M	584.6M	-771.2M	-143.8M	-13.1M	-374.3M	-451.2M
Dividends Paid	-25.6M	-29.4M	-33.1M	-37.8M	-42.7M	0	0	0	0	0
Common Dividends	-25.6M	-29.4M	-33.1M	-37.8M	-42.7M	0	0	0	0	0
Debt Issuance (Net)	1000K	1000K	-1000K	-1000K	1000K	-1000K	1000K	1000K	-1000K	-1000K
Share Repurchases	-10.1M	-7M	-6.6M	-12.4M	-13.6M	-123.5M	-395.8M	-688.4M	-92.2M	-112.5M
Other Financing	-56.5M	-16.2M	-54.5M	-49.7M	29.1M	-58.4M	10.2M	-144.8M	-57.3M	-16.6M
Net Change in Cash+	-33.83M	46.5M	17.7M	162.5M	17.9M	187.7M	1.8M	-95.6M	-82.6M	-10.7M
Exchange Rate Effect	-1000K	-1000K	1000K	-1000K	-800K	1000K	-1000K	-1000K	1000K	-1000K
Cash at Beginning	250.41M	216.6M	454M	471.7M	634.2M	652.1M	839.8M	841.6M	746M	663.4M
Cash at End	216.6M	258.5M	471.7M	634.2M	652.1M	839.8M	841.6M	746M	663.4M	652.7M
Free Cash Flow+	228M	6.4M	637.8M	442.2M	296M	965.3M	796.5M	-5.9M	388.9M	599.8M
FCF Growth %	-0.33%	-0.97%	98.66%	-0.31%	-0.33%	2.26%	-0.17%	-1.01%	66.92%	0.54%
FCF / Revenue %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
FFO per Share	12.04	10.1	9.69	14.6	15.01	12.03	22.64	17.89	11.63	18.71
FFO Payout Ratio	4.68%	6.39%	7.46%	5.64%	5.79%	0%	0%	0%	0%	0%
NOI Margin	71.02%	68.11%	67.35%	67.54%	68.94%	52.06%	56.18%	53.74%	51.47%	51.81%
Net Debt / EBITDA	0.98x	2.66x	1.11x	0.59x	2.47x	3.22x	1.61x	2.39x	2.97x	2.06x
Debt / Assets	13.72%	24.22%	11.47%	10.04%	19.88%	21.68%	16.9%	20.13%	19.4%	17.57%
Interest Coverage	-	-	-	-	-	-	-	-	-	6.34x
Book Value / Share	60.1	61.97	73.91	81.31	106.06	107.45	123.32	124.63	132.74	142.54
Revenue Growth	9.87%	15.84%	15.29%	14.08%	10.35%	65.39%	16.74%	7.72%	-0.49%	12.87%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Work Dynamics	-	-	-	-	-	-	-	13.27B	14.13B	16.2B
Work Dynamics Growth	-	-	-	-	-	-	-	-	6.50%	14.62%
Markets Advisory	-	-	-	-	-	-	-	4.42B	4.12B	4.5B
Markets Advisory Growth	-	-	-	-	-	-	-	-	-6.66%	9.20%
Capital Markets	-	-	-	-	-	-	-	2.49B	1.78B	2.04B
Capital Markets Growth	-	-	-	-	-	-	-	-	-28.54%	14.76%
LaSalle Investment Management	397M	407.8M	355.3M	533.9M	526.1M	-	500.1M	476M	483.7M	467.9M
LaSalle Investment Management Growth	-	2.72%	-12.87%	50.27%	-1.46%	-	-	-4.82%	1.62%	-3.27%
JLL Technologies	-	-	-	-	-	-	-	213.9M	246.4M	226.3M
JLL Technologies Growth	-	-	-	-	-	-	-	-	15.19%	-8.16%
Real Estate Services Property and Facilities Management	1.56B	1.9B	2.38B	8.78B	9.36B	9.49B	-	-	-	-
Real Estate Services Property and Facilities Management Growth	-	22.16%	25.20%	268.73%	6.63%	1.29%	-	-	-	-
Real Estate Services Project and Development Services	882.1M	1.2B	1.35B	2.67B	3.12B	2.53B	-	-	-	-
Real Estate Services Project and Development Services Growth	-	35.49%	12.84%	97.89%	16.95%	-18.95%	-	-	-	-
Real Estate Services Leasing	1.67B	1.76B	2.02B	2.37B	2.52B	1.88B	-	-	-	-
Real Estate Services Leasing Growth	-	5.37%	15.01%	17.24%	6.40%	-25.35%	-	-	-	-
Real Estate Services Capital Markets and Hotels	955.8M	972.1M	1.14B	1.15B	1.54B	1.41B	-	-	-	-
Real Estate Services Capital Markets and Hotels Growth	-	1.71%	17.14%	0.59%	34.64%	-8.74%	-	-	-	-
Real Estate Services Advisory, Consulting and Other	503.9M	567M	684.5M	815.2M	904.7M	861M	-	-	-	-
Real Estate Services Advisory, Consulting and Other Growth	-	12.52%	20.72%	19.09%	10.98%	-4.83%	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Americas	2.61B	2.97B	3.35B	-	-	5.88B	6.38B	-	-	-
Americas Growth	-	13.57%	13.10%	-	-	-	8.46%	-	-	-
Asia Pacific	1.16B	1.35B	1.64B	-	-	2.15B	2.34B	-	-	-
Asia Pacific Growth	-	16.53%	21.00%	-	-	-	8.93%	-	-	-
EMEA	1.8B	2.08B	2.59B	-	-	1.46B	1.5B	-	-	-
EMEA Growth	-	15.18%	24.48%	-	-	-	3.30%	-	-	-

Frequently Asked Questions

Valuation & Price

Jones Lang LaSalle Incorporated (JLL) has a price-to-earnings (P/E) ratio of 31.3x. This suggests investors expect higher future growth.

Growth & Financials

Jones Lang LaSalle Incorporated (JLL) reported $25.32B in revenue for fiscal year 2024. This represents a 606% increase from $3.58B in 2011.

Jones Lang LaSalle Incorporated (JLL) grew revenue by 12.9% over the past year. This is steady growth.

Yes, Jones Lang LaSalle Incorporated (JLL) is profitable, generating $631.6M in net income for fiscal year 2024 (2.3% net margin).

Dividend & Returns

Jones Lang LaSalle Incorporated (JLL) has a return on equity (ROE) of 8.2%. This is below average, suggesting room for improvement.

Industry Metrics

Jones Lang LaSalle Incorporated (JLL) generated Funds From Operations (FFO) of $1.00B in the trailing twelve months. FFO is the primary profitability metric for REITs.

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