Industrials · Building Products · US stock · price as of 16 Oct 2026
Key indicators
Price
$145.47
52-week range
$106.49 – $160.41
Market cap
$89.3B
P/E (trailing)
26.2×
EV / EBITDA
28.8×
Free-cash-flow yield
–
Dividend yield
1.1%
Revenue (last 12 months)
$24.4B
Revenue growth (3y a year)
4.6%
Operating margin
10.7%
Return on invested capital
9.6%
Net debt / EBITDA
2.6×
Fair value
Blended fair value$69.70 range $67 – $72
Versus priceOvervalued−52% to fair value
Peer multiples
$76.32
Fundamentals-adjusted multiple
$87.92
10-year DCF (market-scaled)
$44.85
Earnings power value (floor, not blended)
$13.09
Model uncertainty
High
X-Ray Score
30/ 100 · Medium confidence · ahead of 5% of sector peers
Valuation10
Growth50
Profitability31
Financial health38
Dividends24
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
Commercial buildings are the focus of Johnson Controls International, which provides products, systems and services for them. Its offerings include heating, ventilation and air conditioning equipment, building automation and controls, fire detection and suppression, security systems and ongoing maintenance. Customers include owners and operators of offices, hospitals, schools, data centres and industrial sites. The company is organised into building solutions businesses by region, alongside a global products unit that makes the equipment.
Installing equipment and systems, together with recurring service and maintenance work, generated revenue of $24.4 billion over the last twelve months. Revenue has grown at 4.6% a year across the last three years. The operating margin is 10.7%, the business earns 10% on the capital invested in it, and net debt is 2.6 times EBITDA. The dividend yield is 1.1%.
StocksXray gives Johnson Controls International plc an X-Ray Score of 30 out of 100 (medium confidence), ahead of 5% of the S&P 500 stocks in its sector. Its strongest lens is growth (50) and its weakest is valuation (10).
Our fair value blend is $69.70 (range $67.22 to $72.38). At $145.47 the stock trades 109% above that blend, so the label is "Overvalued" with high model uncertainty. Fair value is a range, not a price target.
XStocksXray
Johnson Controls International plc (JCI)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$61.65
$45.66
$50.55
$75.44
$108.64
$145.47
Market cap
$44.5B
$31.9B
$34.7B
$51.0B
$71.1B
$89.3B
P/E
27.2×
20.8×
18.8×
29.9×
21.6×
26.2×
EV / revenue
2.2×
1.9×
2.0×
2.7×
3.4×
4.0×
EV / EBITDA
14.2×
19.6×
23.6×
26.2×
28.4×
28.8×
Price / free cash flow
22.2×
–
–
–
–
–
Free-cash-flow yield
4.5%
–
–
–
–
–
Price / book
2.5×
2.0×
2.1×
3.2×
5.5×
6.6×
Dividend yield
1.74%
3.04%
2.87%
1.96%
1.39%
1.10%
Fundamentals checklist ● 2 Good · ● 4 Average · ● 7 Bad · each check graded against the sector
Risk models
Altman Z score1.1×Bad
Piotroski F-Score6 of 9Average
Growth
EPS growth (3y)31.9%Good
Revenue growth (3y)4.6%Average
Growth consistency70%Average
Balance sheet
Current ratio1.0×Bad
Net debt / EBITDA2.6×Bad
Interest coverno interest costGood
Valuation
Fair value vs price0.5×Bad
EBIT / EV yield2.7%Bad
Profitability
Return on invested capital9.6%Bad
Operating margin10.7%Bad
Gross profitability23.3%Average
XStocksXray
Johnson Controls International plc (JCI)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
23,668
20,637
22,331
22,952
23,596
24,433
Gross profit
8,059
7,090
7,804
8,077
8,592
8,933
Operating income
2,833
1,337
1,113
1,522
1,969
2,608
Net income
1,637
1,532
1,849
1,705
3,291
3,531
Diluted EPS ($)
2.27
2.19
2.69
2.52
5.03
5.56
Free cash flow
1,999
–
–
–
–
–
Gross margin
34.1%
34.4%
34.9%
35.2%
36.4%
36.6%
Operating margin
12.0%
6.5%
5.0%
6.6%
8.3%
10.7%
Net margin
6.9%
7.4%
8.3%
7.4%
13.9%
14.5%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
41,890
42,158
42,242
42,695
37,939
38,354
Cash
1,336
2,029
828
606
379
698
Total debt
7,740
9,132
8,824
9,493
9,880
9,523
Equity
17,562
16,268
16,545
16,098
12,927
13,518
Dividend per share ($)
1.07
1.39
1.45
1.48
1.51
1.57
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.