JLL
JONES LANG LASALLE INC
Next earnings Aug 4, 2026 · consensus $4.58 EPS, $6.93B rev
Last earnings -6.1% on 2026-04-30
$327.46
▲ +4.59%$327.46▲ +28.02%
over 1Y
L $248.95H $358.66
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+4.6%
1W+7.8%
1M+10.6%
3M+7.0%
YTD-2.5%
1Y+28.0%
Buy
Conviction
Horizon
Long (>12mo)
12-mo target
$•••
Street · 16 analysts
Buy
A commercial-real-estate-services recovery in full swing: revenue +11%, EPS +45%, at a reasonable 18x earnings.
Revenue (FY2025) $26.1B · FY2025
The read
Quality fundamentals and an attractive price line up (~90% below fair value) — the rarer case where both the business and the entry look good.
Jones Lang LaSalle is a global commercial real estate services leader (leasing, capital markets, property management, advisory) emerging from the 2022-2023 transaction-volume downturn. FY2025 confirms the recovery: revenue grew 11.4% to $26.1B, operating income rose 26.5% to $1.10B, and net income jumped 44.9% to $792M, lifting diluted EPS 45.1% to $16.40. The operating leverage is the story — net income has rebuilt from the $225M trough in FY2023 to $792M, and the cash conversion is strong, with operating cash flow up 52.1% to $1.19B.
The balance sheet supports the recovery. Equity grew 10.8% to $7.50B, cash rose 43.9% to $599M, debt is modest, and the company resumed meaningful buybacks ($212M, +162.1%) while shares outstanding fell 1.1%. The 10.6% return on equity is respectable for an asset-light, cyclical services franchise where structurally thin margins (4.2% operating, 3.0% net) reflect the high-volume, pass-through nature of brokerage and outsourcing revenue rather than weak economics.
Is JLL a buy? The one-page verdict, explained →
The options angle
model · matches our verdictBull call spread~90d expiry
- Long call 325 @ ~22.10 est
- Short call 360 @ ~8.84 est
debit $1,326max +$2,174max −$1,326BE 338.26
BUY verdict with defined risk: the short call finances part of the long one; max loss is the net debit.
Educational template, not a trade recommendation. Strikes and premiums are Black-Scholes model estimates from the last close and 30-day realized volatility — real chains, spreads and IV will differ. Options involve substantial risk.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $19.4B | $20.9B | $20.8B | $23.4B | $26.1B |
| Gross profit | — | — | — | — | — |
| Operating income | $1.04B | $868M | $577M | $868M | $1.10B |
| Net income | $962M | $655M | $225M | $547M | $792M |
| Diluted EPS | $18.47 | $13.27 | $4.67 | $11.30 | $16.40 |
| Net margin | 5.0% | 3.1% | 1.1% | 2.3% | 3.0% |
10-year statements — income, cash flow, balance sheet & CSV export →
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$14.9B
EV / EBITDA11.0
EV / Sales0.6
EV / FCF14.3
P / FCF14.6
PEG (trailing)0.45
Earnings yield5.2%
FCF yield6.8%
Quality & risk
ROIC (est.)11.2%
Free cash flow$1.04B
Total debt$273M
Net cash$326M
Altman Z-Score3.18 safe
Piotroski F-Score8/8
Capital returns
Buyback yield1.4%
Dividend yield (est.)0.0%
Shareholder yield1.4%
Shares Δ YoY-1.1%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRoutine disclosure cadence — no material red flags in recent filings.
Recent filings
all on EDGAR ↗4Period ending 2026-07-012026-07-02open ↗4Period ending 2026-07-012026-07-02open ↗4Period ending 2026-07-012026-07-02open ↗4Period ending 2026-07-012026-07-02open ↗4Period ending 2026-07-012026-07-02open ↗4Period ending 2026-06-122026-06-16open ↗144Filing2026-06-12open ↗4Period ending 2026-06-052026-06-08open ↗144Filing2026-06-05open ↗4Period ending 2026-06-012026-06-01open ↗4Period ending 2026-06-012026-06-01open ↗4Period ending 2026-06-012026-06-01open ↗
Frequently asked
- Is JONES LANG LASALLE INC (JLL) a buy?
- JLL currently carries a Buy rating with 3/5 conviction, derived from its latest SEC filings. A commercial-real-estate-services recovery in full swing: revenue +11%, EPS +45%, at a reasonable 18x earnings.
- What is JLL's fair value?
- A Modified-Graham model based on JLL's SEC fundamentals estimates a fair value of about $623.20. It is an estimate from reported earnings, not a price target.
- Is JLL overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, JLL currently appears undervalued relative to its SEC-grounded earnings power.
- What is JONES LANG LASALLE INC's quality score?
- JLL scores 74.28624047844313/100 (grade B) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001037976, latest 10-Q filed 2026-04-30) · EODHD · Proprietary analysis · as of 6/21/2026, 8:45:17 PM.
About this recommendation — produced by TENK/calls (tenkcalls.com), Luxembourg · not investment advice
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jun 21, 2026, 4:45 PM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.