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Jones Lang LaSalle

JLL NYSE Real Estate Services Financials FY2016–FY2025

Jones Lang LaSalle's revenue rose 11.4% to $26.1 billion in fiscal 2025. Its operating margin was 4.2%, up from 3.7% a year earlier. It paid out $212 million in dividends and buybacks. The diluted share count fell 0.1%.

Last close · Oct 23, 2026

$300.30

3.9%
Value it Compare
Revenue Total sales reported in the income statement.
$26.1B
11.4% vs prior year
Operating margin Operating income as a share of revenue.
4.2%
0.5 pts
Net income Profit after all expenses, interest and tax.
$792M
44.9%
Free cash flow Cash from operations minus capital spending.
—
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
11.6%
1.8 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$14.1B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
14.4x
On $20.86 EPS (TTM)

What Jones Lang LaSalle does

No business description yet.

Legal name
JONES LANG LASALLE INC
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0001037976-26-000037
0001037976

Revenue and margins

Jones Lang LaSalle had $26.1B of revenue in fiscal 2025, up 11.5% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 9.5% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was — in fiscal 2025, — of revenue. Cash from operations minus capital spending.

Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Jones Lang LaSalle returned $212M to shareholders in fiscal 2025. The diluted share count fell 0.1%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Jones Lang LaSalle yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$207M and divides by 48.3M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 14.4x · peers 32.9x · sector 28.2x.

Balance sheet

Cash, debt and the ratios that show how comfortably Jones Lang LaSalle can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $594M$519M$410M$416M$599M
Debt incl. finance leases $809M$516M$779M$956M$806M
Net debt / EBITDA 0.2x0.0x0.5x0.5x0.2x
Debt / equity 0.1x0.1x0.1x0.1x0.1x
Interest coverage 26.9x11.7x4.0x5.9x9.3x
Current ratio 1.0x1.1x1.1x1.1x1.1x
Quick ratio 1.0x1.1x1.1x1.1x1.1x
Total assets $15.5B$15.6B$16.1B$16.8B$17.8B
Total liabilities $9.1B$9.4B$9.7B$9.9B$10.2B
Shareholders' equity $6.2B$6.0B$6.3B$6.8B$7.5B
Net debt (− = net cash) $215M−$3.5M$369M$540M$207M

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$9.6M

4 insiders

Of sales under plans

100%

$9.6M

DateInsiderTradeSharesPriceValueFiling
Aug 21, 2026 Christian UlbrichCEO & President, Director Sold plan 2,000 $386.99 $0.8M Form 4
Aug 20, 2026 Christian UlbrichCEO & President, Director Sold plan 2,000 $385.53 $0.8M Form 4
Aug 19, 2026 Christian UlbrichCEO & President, Director Sold plan 2,000 $375.16 $0.8M Form 4
Aug 18, 2026 Christian UlbrichCEO & President, Director Sold plan 2,000 $375.00 $0.8M Form 4
Aug 14, 2026 Christian UlbrichCEO & President, Director Sold plan 2,000 $375.00 $0.8M Form 4
Jun 12, 2026 Larry QuinlanDirector Sold plan 402 $301.73 $0.1M Form 4
Jun 5, 2026 Larry QuinlanDirector Sold plan 403 $295.14 $0.1M Form 4
Mar 24, 2026 Richard BloxamCEO, Capital Markets Services Sold plan 5,440 $296.94 $1.6M Form 4
Mar 10, 2026 Deborah H McAnenyDirector Sold plan 2,500 $300.50 $0.8M Form 4
Dec 11, 2025 Christian UlbrichCEO & President, Director Sold plan 96 $332.18 $0.0M Form 4
Dec 10, 2025 Christian UlbrichCEO & President, Director Sold plan 5,000 $330.87 $1.7M Form 4
Dec 5, 2025 Christian UlbrichCEO & President, Director Sold plan 4,664 $330.36 $1.5M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✕ ✓ ✓
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✕ ✕ ✓
Current ratio rose ✕ ✕ ✓
Share count didn't rise ✓ ✕ ✓
Gross margin rose — — —
Revenue rose relative to assets ✕ ✓ ✓
F-score 4 / 85 / 88 / 8
Accruals ratio −2.2%−1.5%−2.3%
Altman Z'' 2.282.442.80

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Jones Lang LaSalle JLL $14.1B 11.5% 4.2% — 11.6% 14.4x 8
CBRE Group CBRE $36.0B 13.4% 4.3% 2.9% 10.2% 26.4x 7 Compare →
Cushman & Wakefield CWK $2.8B 8.9% 4.4% 2.9% 8.8% 39.4x 5 Compare →
Compass COMP $8.2B 23.7% −0.9% 2.9% — 162.5x — Compare →
Newmark Group NMRK $2.9B 20.3% 7.1% 4.3% 8.6% 14.4x 7 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $13.0B $14.5B $16.3B $18.0B $16.6B $19.4B $20.9B $20.8B $23.4B $26.1B
Operating income $456M $546M $707M $715M $559M $1.0B $868M $577M $868M $1.1B
Interest expense $34.8M $47.6M $49.2M $58.5M $50.2M $38.8M $74.3M $145M $147M $119M
Pretax income $464M $536M $706M $698M $530M $1.2B $994M $252M $679M $982M
Income tax $118M $256M $214M $160M $107M $264M $201M $25.7M $133M $190M
Net income $330M $276M $485M $535M $403M $962M $655M $225M $547M $792M
Diluted EPS $7.23 $6.03 $10.54 $10.87 $7.70 $18.47 $13.27 $4.67 $11.30 $16.40
Diluted shares 0.05B 0.05B 0.05B 0.05B 0.05B 0.05B 0.05B 0.05B 0.05B 0.05B
Cash flow
Cash from operations $223M $799M $604M $484M $1.1B $972M $200M $576M $785M $1.2B
Capital expenditure $99.8M $2.3M $47.1M — — — — — — —
Free cash flow $123M $796M $557M — — — — — — —
Depreciation and amortization $142M $167M $186M $202M $226M $218M $228M $238M $256M $253M
Stock-based compensation $26.9M $25.2M $0.0M $28.0M $36.7M $17.8M $6.1M $3.4M $2.3M $2.7M
Acquisitions $484M $18.7M $101M $801M $0.0M $417M $5.7M $13.6M $60.9M $7.7M
Share buybacks $0.0M $0.0M $0.0M $0.0M $100M $343M $601M $61.6M $80.7M $212M
Dividends paid $29.4M $33.1M $37.8M $42.7M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends and buybacks $29.4M $33.1M $37.8M $42.7M $100M $343M $601M $61.6M $80.7M $212M
Balance sheet
Cash and short-term investments $259M $268M $481M $452M $574M $594M $519M $410M $416M $599M
Total debt $362M $768M $704M $785M $764M $809M $516M $779M $956M $806M
Finance lease liabilities $0.0M $0.0M $0.0M $11.8M $13.7M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets $3.3B $4.5B $5.2B $5.9B $6.5B $6.4B $6.6B $6.9B $7.5B $8.2B
Current liabilities $3.0B $4.3B $4.8B $5.5B $6.1B $6.5B $5.9B $6.4B $7.1B $7.4B
Inventory $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Property and equipment, net $501M $544M $568M $702M $664M $740M $583M $614M $598M $631M
Total assets $7.6B $9.3B $10.0B $13.7B $14.3B $15.5B $15.6B $16.1B $16.8B $17.8B
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 $3.3B $3.7B $5.1B $5.5B $6.2B $6.0B $6.3B $6.8B $7.5B
Margins
Operating margin 3.5% 3.8% 4.3% 4.0% 3.4% 5.4% 4.2% 2.8% 3.7% 4.2%
EBITDA margin 4.6% 4.9% 5.5% 5.1% 4.7% 6.5% 5.3% 3.9% 4.8% 5.2%
Net margin 2.5% 1.9% 3.0% 3.0% 2.4% 5.0% 3.1% 1.1% 2.3% 3.0%
FCF margin 1.0% 5.5% 3.4% — — — — — — —
Returns
Return on capital 11.7% 8.3% 12.6% 11.6% 7.9% 13.2% 10.9% 8.0% 9.8% 11.6%
Return on capital employed 10.9% 11.4% 13.9% 10.6% 6.8% 12.1% 9.3% 6.0% 9.0% 11.0%
Return on equity 12.0% 9.0% 13.8% 12.2% 7.6% 16.4% 10.7% 3.7% 8.4% 11.1%
Return on assets 4.8% 3.3% 5.0% 4.5% 2.9% 6.5% 4.2% 1.4% 3.3% 4.6%
Growth
Revenue growth 117.8% 11.3% 12.9% 10.2% −7.8% 16.7% 7.7% −0.5% 12.9% 11.5%
Net income growth −24.9% −16.2% 75.3% 10.5% −24.8% 138.9% −31.9% −65.6% 142.6% 44.9%
EPS growth −25.1% −16.6% 74.8% 3.1% −29.2% 139.9% −28.2% −64.8% 142.0% 45.1%
FCF growth −67.2% 548.5% −30.1% — — — — — — —
Share count change 0.3% 0.5% 0.4% 7.0% 6.4% −0.4% −5.2% −2.1% 0.2% −0.1%
Financial health
Net debt / EBITDA 0.2x 0.7x 0.3x 0.4x 0.3x 0.2x 0.0x 0.5x 0.5x 0.2x
Debt / equity 0.1x 0.2x 0.2x 0.2x 0.1x 0.1x 0.1x 0.1x 0.1x 0.1x
Interest coverage 13.1x 11.5x 14.4x 12.2x 11.1x 26.9x 11.7x 4.0x 5.9x 9.3x
Current ratio 1.1x 1.1x 1.1x 1.1x 1.1x 1.0x 1.1x 1.1x 1.1x 1.1x
Quick ratio 1.1x 1.1x 1.1x 1.1x 1.1x 1.0x 1.1x 1.1x 1.1x 1.1x
Capital allocation
Capex / revenue 0.8% 0.0% 0.3% — — — — — — —
Stock comp / revenue 0.2% 0.2% 0.0% 0.2% 0.2% 0.1% 0.0% 0.0% 0.0% 0.0%
Payouts / FCF 23.9% 4.2% 6.8% — — — — — — —
Quality scores
Piotroski F-score 5.0 3.0 6.0 5.0 4.0 7.0 5.0 4.0 5.0 8.0
Altman Z'' 2.3 2.1 2.4 2.0 2.0 2.2 2.5 2.3 2.4 2.8
Accruals ratio 1.6% −6.2% −1.2% 0.4% −5.1% −0.1% 2.9% −2.2% −1.5% −2.3%

Source: SEC EDGAR XBRL filings (CIK 0001037976). Data updated October 17, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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