Latest Ratios: P/E Ratio 54.3x · EV/EBITDA 26.5x · ROE 21.7%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $87.1B | $71.9B | $52.5B | $36.1B | $33.4B | $49.1B | $30.8B | $38.4B | $23.8B | $27.4B | $28.3B |
| Enterprise Value | $97.9B | $82.7B | $61.4B | $44.1B | $40.3B | $55.5B | $36.7B | $42.8B | $34.5B | $40.6B | $40.4B |
| P/E Ratio → | 54.27 | 41.81 | 30.80 | 19.78 | 22.47 | 29.99 | 48.63 | 80.95 | 15.09 | 23.56 | — |
| P/S Ratio | 3.69 | 3.05 | 2.29 | 1.62 | 1.62 | 2.07 | 1.38 | 1.60 | 1.02 | 0.91 | 1.36 |
| P/B Ratio | 7.21 | 5.55 | 3.02 | 2.04 | 1.92 | 2.62 | 1.66 | 1.84 | 1.06 | 1.27 | 1.12 |
| P/FCF | 90.23 | 74.53 | 32.71 | 20.35 | 22.24 | 25.37 | 17.33 | 62.29 | 12.70 | — | 42.90 |
| P/OCF | 62.24 | 51.41 | 25.01 | 16.27 | 16.79 | 19.74 | 13.87 | 31.92 | 9.45 | 273.57 | 14.82 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.51 | 2.67 | 1.98 | 1.96 | 2.34 | 1.64 | 1.78 | 1.47 | 1.35 | 1.94 |
| EV / EBITDA | 26.51 | 22.40 | 18.95 | 13.87 | 14.79 | 15.36 | 14.23 | 18.86 | 12.55 | 9.35 | 16.64 |
| EV / EBIT | 34.61 | 36.16 | 30.92 | 32.49 | 30.27 | 18.30 | 29.18 | 31.47 | 17.02 | 13.13 | 29.15 |
| EV / FCF | — | 85.73 | 38.25 | 24.86 | 26.85 | 28.68 | 20.64 | 69.43 | 18.44 | — | 61.27 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 36.4% | 36.4% | 35.2% | 35.0% | 34.4% | 34.0% | 33.2% | 32.1% | 32.8% | 30.8% | 27.2% |
| Operating Margin | 12.0% | 12.0% | 10.5% | 10.9% | 9.7% | 11.7% | 7.9% | 6.0% | 8.2% | 10.4% | 7.1% |
| Net Profit Margin | 13.9% | 13.9% | 7.4% | 8.3% | 7.4% | 6.9% | 2.8% | 2.0% | 9.2% | 5.3% | -4.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 21.7% | 21.7% | 9.7% | 10.5% | 8.5% | 8.8% | 3.2% | 2.2% | 9.8% | 6.9% | -4.8% |
| ROA | 8.2% | 8.2% | 4.0% | 4.4% | 3.6% | 4.0% | 1.5% | 1.0% | 4.3% | 2.8% | -1.9% |
| ROIC | 8.5% | 8.5% | 7.0% | 7.3% | 6.1% | 8.4% | 5.3% | 3.7% | 4.2% | 6.5% | 4.1% |
| ROCE | 9.8% | 9.8% | 7.8% | 7.9% | 6.3% | 8.5% | 5.3% | 4.1% | 5.0% | 7.3% | 4.5% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.86 | 0.86 | 0.55 | 0.50 | 0.51 | 0.41 | 0.42 | 0.35 | 0.49 | 0.63 | 0.50 |
| Debt / EBITDA | 3.03 | 3.03 | 2.93 | 2.77 | 3.28 | 2.14 | 3.04 | 3.18 | 3.98 | 3.13 | 5.26 |
| Net Debt / Equity | — | 0.83 | 0.51 | 0.45 | 0.40 | 0.34 | 0.32 | 0.21 | 0.48 | 0.61 | 0.48 |
| Net Debt / EBITDA | 2.93 | 2.93 | 2.75 | 2.51 | 2.54 | 1.77 | 2.28 | 1.94 | 3.91 | 3.05 | 4.99 |
| Debt / FCF | — | 11.20 | 5.54 | 4.50 | 4.61 | 3.31 | 3.30 | 7.14 | 5.74 | — | 18.36 |
| Interest Coverage | 14.57 | 14.57 | 4.29 | 5.54 | 3.96 | 7.25 | 3.56 | 4.49 | 4.21 | 5.79 | 4.27 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.93 | 0.93 | 0.94 | 0.97 | 1.04 | 1.10 | 1.22 | 1.37 | 1.05 | 1.04 | 1.05 |
| Quick Ratio | 0.76 | 0.76 | 0.79 | 0.80 | 0.80 | 0.87 | 1.00 | 1.17 | 0.89 | 0.77 | 0.87 |
| Cash Ratio | 0.03 | 0.03 | 0.05 | 0.07 | 0.18 | 0.15 | 0.24 | 0.31 | 0.02 | 0.03 | 0.04 |
| Asset Turnover | — | 0.62 | 0.54 | 0.53 | 0.49 | 0.57 | 0.55 | 0.57 | 0.48 | 0.58 | 0.33 |
| Inventory Turnover | 8.24 | 8.24 | 8.38 | 7.75 | 5.08 | 7.59 | 8.40 | 8.97 | 8.64 | 6.50 | 5.25 |
| Days Sales Outstanding | — | 96.97 | 96.23 | 89.80 | 101.29 | 86.56 | 86.58 | 87.87 | 87.69 | 80.64 | 112.00 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.0% | 1.4% | 1.9% | 2.7% | 2.7% | 1.6% | 2.6% | 2.4% | 4.0% | 2.6% | 3.2% |
| Payout Ratio | 29.7% | 29.7% | 58.7% | 53.0% | 59.8% | 46.5% | 125.2% | 194.1% | 44.1% | 43.6% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.8% | 2.4% | 3.2% | 5.1% | 4.4% | 3.3% | 2.1% | 1.2% | 6.6% | 4.2% | — |
| FCF Yield | 1.1% | 1.3% | 3.1% | 4.9% | 4.5% | 3.9% | 5.8% | 1.6% | 7.9% | — | 2.3% |
| Buyback Yield | 6.9% | 8.3% | 2.4% | 1.7% | 4.3% | 2.7% | 7.2% | 15.6% | 1.3% | 2.4% | 1.8% |
| Total Shareholder Yield | 7.9% | 9.7% | 4.3% | 4.4% | 7.1% | 4.2% | 9.7% | 18.0% | 5.3% | 4.9% | 5.0% |
| Shares Outstanding | — | $654M | $676M | $679M | $679M | $721M | $754M | $874M | $679M | $679M | $679M |
Portfolio complexity and leverage
Based on current market data, JCI trades at a forward P/E of 28.30, which appears to price in significant earnings expansion that may be difficult to achieve given the company's historical volatility and the persistent complexity discount relative to pure-play peers like Trane Technologies.
The current valuation multiples suggest that investors are paying a premium for the company's transition toward a digital-first building technology model. However, the PEG ratio of 2.05 indicates that the market's growth expectations may be overly optimistic when compared to the actual, more modest, historical earnings trajectory.
As reported in financial statements, JCI's ROIC has remained largely stagnant, fluctuating between 1.3% and 3.4% over the last ten quarters, which significantly trails the double-digit returns generated by more focused industrial peers such as Eaton Corporation and Trane Technologies.
The low ROIC suggests that the company's massive installed base and integrated service model have yet to translate into superior capital efficiency. This persistent underperformance in capital returns warrants further investigation into whether the current organizational structure is effectively allocating capital or merely absorbing it through ongoing restructuring costs.
According to recent SEC filings, JCI's cash conversion cycle has remained elevated, averaging over 55 days in recent periods, which highlights the operational friction inherent in managing a global branch network alongside large-scale, long-term project installations that tie up significant working capital.
The persistent reliance on percentage-of-completion accounting, combined with high DSO levels, suggests that the company's cash flow generation is frequently decoupled from its reported revenue. This inefficiency in working capital management likely contributes to the observed volatility in free cash flow margins.
Based on JCI's reported figures, the debt-to-EBITDA ratio has shown significant volatility, peaking at 11.86 in 2026Q2, which indicates that the company's ability to service its debt remains sensitive to operational fluctuations and the timing of large-scale divestiture proceeds.
While interest coverage ratios appear adequate on the surface, the underlying volatility suggests that the company's balance sheet remains vulnerable to cyclical downturns in the commercial construction sector. Investors should monitor whether future debt reduction is prioritized over continued share repurchases to improve the overall risk profile.
The P/E ratio is frequently misapplied to JCI, as it fails to account for the significant non-operating items and restructuring charges that regularly distort net income, making it a poor proxy for the company's underlying cash-generative earning power.
Analysts should instead focus on EV/EBITDA or FCF-based valuation metrics to strip away the noise created by the company's frequent portfolio pruning and divestiture activities. Relying on P/E risks misinterpreting one-time accounting gains as sustainable operational growth, which can lead to flawed investment conclusions.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying JCI stock.
Johnson Controls International plc's current P/E ratio is 54.3x. The historical average is 20.7x. This places it at the 96th percentile of its historical range.
Johnson Controls International plc's current EV/EBITDA is 26.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.1x.
Johnson Controls International plc's return on equity (ROE) is 21.7%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 12.0%.
Based on historical data, Johnson Controls International plc is trading at a P/E of 54.3x. This is at the 96th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Johnson Controls International plc's current dividend yield is 1.05% with a payout ratio of 29.7%.
Johnson Controls International plc has 36.4% gross margin and 12.0% operating margin. Operating margin between 10-20% is typical for established companies.
Johnson Controls International plc's Debt/EBITDA ratio is 3.0x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.