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Jones Lang LaSalle Incorporated

JLL Real Estate Real Estate Services

Jones Lang LaSalle Incorporated’s revenue for fiscal 2025 (year ended December 2025) was $26.1 billion, up 11.4% from fiscal 2024. In the quarter to June 2026, revenue grew 10.8%, EPS grew 97.5%, free cash flow grew 51.9% and total debt fell 16.9%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years.

305.51 5.28 −1.70%
Market cap
$14.3B
P/E
14.3×
Fwd P/E
13.2×
Dividend yield
—
F-score
9/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 16.32
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell 2 3 — — 2 — — 2 — 4 — —
Insider Ownership 1.57%

Capital & Financial Ratios $m

Market Cap 14,300.00
Revenue 27,433.50
Net Income 997.90
Free Cash Flow 1,120.30
Net Debt 1,179.50
Current Ratio 2.40
Debt/Equity 0.22
P/E ratio 14.34
Fwd P/E 13.20
P/S ratio 0.52
P/B ratio 1.86
Past 5Y EPS Growth 16.32% (at or above 15%: strong)
This Y EPS Growth 33.14% (at or above 15%: strong)
Next Y EPS Growth 11.07%
Next Y revenue growth 11.26% (at or above 10%: strong)
Next 5Y EPS Growth 19.02% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.6×, against a ten-year median of 0.5×; over the ten years it ranged from 0.3× in 2020 to 1.1× in 2016.
P/E against its own 10 years 34.68%
10-year low 10-year high
P/S against its own 10 years 61.22%
10-year low 10-year high
P/B against its own 10 years 65.76%
10-year low 10-year high
EV/Sales against its own 10 years 58.83%
10-year low 10-year high
EV/FCF against its own 10 years 13.55%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2028 Powerpack
2027 Powerpack
2026 Powerpack
2025 Powerpack
2024 Powerpack
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2019 1.00
0.43
0.14
0.04
0.43
2018 0.82
0.41
0.41
2017 0.72
0.35
0.37
2016 0.64
0.31
0.33
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 410 416 599 458
Receivables 5,459 6,014 6,578 6,459
Inventory — — — —
Other — — — —
6,315 6,887 7,628 7,352
2023 2024 2025 Q'26
Payables 1,407 1,323 1,398 1,243
ST’ Debt 148 353 93 503
Other — — — —
3,253 3,444 3,420 3,063

Compound Annual Growth %

10y 5y 3y
Sales 15.91% 9.50% 7.77%
Cash Flow 12.26% 1.39% 81.44%
Earnings 6.09% 14.50% 6.57%
Book Value 10.86% 6.32% 7.46%

Revenue $m

Mar Jun Sep Dec Year
’26 6,387 6,928 — — —
’25 5,746 6,250 6,510 7,609 26,116
’24 5,125 5,629 5,869 6,811 23,433
’23 4,716 5,053 5,111 5,881 20,761
’22 4,801 5,278 5,178 5,605 20,862
’21 4,037 4,495 4,889 5,946 19,367
’20 4,096 3,670 3,978 4,845 16,590
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (755) 488 — — —
’25 (768) 333 617 1,012 1,194
’24 (677) 274 262 927 785
’23 (716) 237 326 729 576
’22 (716) 177 138 602 200
’21 (462) 216 456 762 972
’20 (546) 501 408 752 1,115
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (820) 438 — — —
’25 (812) 288 568 935 979
’24 (721) 236 217 868 600
’23 (766) 198 276 680 389
’22 (763) 137 88 532 (6)
’21 (496) 181 415 698 797
’20 (590) 469 373 715 965
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 3.33 4.59 — — —
’25 1.14 2.32 4.61 8.34 16.40
’24 1.37 1.75 3.20 4.97 11.30
’23 (0.19) 0.05 1.23 3.57 4.67
’22 2.86 3.90 2.88 3.62 13.27
’21 1.97 3.82 4.57 8.16 18.47
’20 0.10 0.29 2.52 4.80 7.70
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.9
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 86.62 97.60 122.05 119.79 78.29 141.39 135.35 119.46 167.11 194.36

Analyst estimates 2026–2028

Powerpack
High 160.33 155.25 178.75 175.99 178.55 275.58 275.77 191.21 288.50 347.81
People
People Employees 77,300 82,000 90,000 93,400 90,800 98,200 103,300 106,100 112,100 113,200
Revenue/emp, $m 0.17 0.18 0.18 0.19 0.18 0.20 0.20 0.20 0.21 0.23
Income, $m
Income, $m Revenue 12,991 14,453 16,318 17,983 16,590 19,367 20,862 20,761 23,433 26,116
Gross margin, % 22.09 23.14 23.79 23.45 53.54 50.76 52.01 52.94 53.08 54.34
EBT 464 536 706 698 530 1,224 994 252 679 982
EBT margin, % 3.57 3.71 4.33 3.88 3.19 6.32 4.77 1.21 2.90 3.76
Net income 346 280 492 538 423 959 793 226 547 792
Depreciation 172 192 218 277 310 314 319 321 359 374
Per share, $
Per share, $ Revenue 287.71 318.94 358.51 369.67 320.99 380.36 430.56 435.89 493.40 551.53
Earnings 7.04 5.60 10.64 10.98 7.79 18.89 13.51 4.73 11.51 16.73
Cash flow 4.93 17.63 13.27 9.95 21.57 19.10 4.13 12.09 16.54 25.22
Capex (6.25) (3.34) (3.56) (3.86) (2.89) (3.45) (4.25) (3.92) (3.91) (4.55)
Free cash flow (1.32) 14.28 9.72 6.08 18.68 15.64 (0.12) 8.17 12.63 20.66
Book value 62.34 74.55 82.05 106.99 108.55 125.96 126.77 134.58 145.18 160.99
Shares, m 45 45 46 49 52 51 48 48 47 47
Valuation, ×
Valuation, × P/E 14.54 27.79 11.91 16.27 18.97 14.21 12.03 39.43 22.03 20.06
P/S 0.36 0.48 0.35 0.47 0.46 0.71 0.38 0.43 0.51 0.61
P/B 1.64 2.07 1.54 1.63 1.37 2.14 1.28 1.39 1.74 2.09
EV/Sales 0.43 0.52 0.37 0.52 0.47 0.73 0.44 0.48 0.55 0.62
EV/FCF (94.82) 11.53 13.50 31.47 8.13 17.67 (1,543.24) 25.79 21.35 16.58
Cash, $m
Cash, $m Operating cash flow 223 799 604 484 1,115 972 200 576 785 1,194
Capex (282) (151) (162) (188) (149) (176) (206) (187) (185) (216)
Free cash flow (59) 647 442 296 965 797 (6) 389 600 979
Balance, $m
Balance, $m Working capital 1,204 1,649 1,870 2,269 3,177 2,420 2,787 3,062 3,443 4,207
Total debt 1,268 753 688 1,297 755 956 1,751 1,538 1,198 890
Net debt 1,009 485 207 846 181 363 1,232 1,128 782 291
Shareholders’ equity 2,815 3,378 3,735 5,205 5,610 6,413 6,143 6,410 6,895 7,623
Returns, %
Returns, % ROA 4.77 3.27 5.02 4.51 2.88 6.45 4.21 1.42 3.33 4.58
ROIC 7.45 8.83 11.21 7.39 6.03 9.62 7.36 4.78 7.07 8.67
ROE 11.90 8.91 13.61 11.96 7.44 16.00 10.43 3.59 8.22 10.91
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Jones Lang LaSalle Incorporated vs peers in Real Estate Services (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
CBRE CBRE Group, Inc. $39.2B 30.2× 20.2× +15.53% (above 0%: growing) −2.78% (below 0%: shrinking) −1,200.00% (below 0%: shrinking) 18.58% 3.25% Compare
BEKE KE Holdings Inc. Sponsored ADR $18.8B 27.6× 20.6× −0.39% (below 0%: shrinking) +125.00% (above 0%: growing) +760.48% (above 0%: growing) 28.58% 12.33% Compare
JLL Jones Lang LaSalle Incorporated $14.3B 14.3× 13.2× +10.84% (above 0%: growing) +97.46% (above 0%: growing) +51.87% (above 0%: growing) 54.76% 4.20%
CSGP CoStar Group, Inc. $13.0B 173× 59.5× +18.44% (above 0%: growing) +879.02% (above 0%: growing) +1,525.00% (above 0%: growing) 78.70% 8.22% Compare
COMP Compass, Inc. $7.4B 130× 24.1× +109.03% (above 0%: growing) +71.43% (above 0%: growing) +164.71% (above 0%: growing) 100.00% 2.88% Compare
FSV FirstService Corporation $6.2B 38.3× 34.9× +2.37% (above 0%: growing) −0.99% (below 0%: shrinking) −23.87% (below 0%: shrinking) 33.17% 6.88% Compare
CIGI Colliers International Group Inc. $4.6B 42.6× 49.4× +16.68% (above 0%: growing) +600.00% (above 0%: growing) +285.13% (above 0%: growing) 40.39% 6.26% Compare
IHS IHS Holding Limited $2.9B 20.1× 7.6× +10.41% (above 0%: growing) n/m −41.30% (below 0%: shrinking) 48.32% 19.32% Compare
CWK Cushman & Wakefield PLC $2.7B 39.0× 11.1× +11.22% (above 0%: growing) −12.00% (below 0%: shrinking) +15,066.67% (above 0%: growing) 18.53% 4.86% Compare
Median of peers $6.8B 38.6× 22.4× +13.37% +71.43% +224.92% 36.78% 6.57%

All 46 Real Estate Services stocks →

Jones Lang LaSalle Incorporated (JLL) key facts

  • Strength: Jones Lang LaSalle Incorporated’s revenue for fiscal 2025 (year ended December 2025) was $26.1 billion, up 11.4% from fiscal 2024.
  • Jones Lang LaSalle Incorporated (JLL) is a Real Estate Services company in the Real Estate sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, JLL traded at $305.51, a market capitalization of $14.3 billion.
  • Return on equity was 10.9% and debt-to-equity 0.22.
  • Its Piotroski F-score is 9 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

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stockrow.com/JLL · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com