Johnson Controls International plc financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Johnson Controls International plc files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	20,837	30,172	31,400	23,968	22,317	23,668	20,637	22,331	22,952	23,596
Cost of revenue	15,183	15,305	15,733	16,275	14,906	15,609	13,547	14,527	14,875	15,004
Gross profit	5,654	7,530	7,667	7,693	7,411	8,059	7,090	7,804	8,077	8,592
Research and development	158	307	310	319	274	275	236	251	267	273
Selling, general and administrative	4,190	5,723	5,642	6,244	5,665	5,258	5,078	5,387	5,661	5,764
Interest expense	293	446	409	335	240	219	225
Pre-tax income	1,061	1,151	1,546	1,056	903	2,614	1,112	1,113	1,522	1,969
Income tax	197	322	197	-233	108	868	-182	-468	111	245
Income from continuing operations	732	672	1,175	1,100	631	1,513	1,279	1,562	1,407	1,721
Net income to minority interests					164	233	191	184	195	222
Net income	-868	1,611	2,162	5,674	631	1,637	1,532	1,849	1,705	3,291
EPS, basic	-1.30	1.72	2.34	6.52	0.84	2.28	2.20	2.70	2.53	5.04
EPS, diluted	-1.29	1.71	2.32	6.49	0.84	2.27	2.19	2.69	2.52	5.03
Shares, basic (weighted)	667	935	926	870	751	717	696	684	674	652
Shares, diluted (weighted)	673	945	932	874	754	721	700	687	676	654
Dividend per share	1.16	1.00	1.04	1.04	1.04	1.07	1.39	1.45	1.48	1.51

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	579	301	185	2,805	1,951	1,336	2,029	828	606	379
Receivables	6,394	6,666	5,622	5,770	5,294	5,613	5,727	5,494	6,051	6,269
Inventory	2,888	3,209	1,819	1,814	1,773	2,057	2,665	1,872	1,774	1,820
Other current assets	1,436	1,907	1,182	1,906	1,035	992	1,262	991	1,153	1,680
Total current assets	17,109	12,292	11,823	12,393	10,053	9,998	11,685	10,737	11,179	10,162
Property, plant and equipment	5,632	3,341	3,300	3,348	3,059	3,228	2,271	2,374	2,403	2,193
Lease right-of-use assets						1,376	1,271	1,301	1,170	1,347
Goodwill	21,024	18,591	18,381	18,178	17,932	18,335	16,175	16,772	16,725	16,633
Intangible assets	7,540	6,741	6,187	5,632	5,356	5,549	5,155	4,772	4,130	3,613
Other non-current assets	3,510	3,931	3,070	1,823	3,354	3,558	3,874	4,482	5,048	5,198
Total assets	63,179	51,884	48,797	42,287	40,815	41,890	42,158	42,242	42,695	37,939
Accounts payable	4,000	4,271	3,407	3,582	3,120	3,746	4,368	3,498	3,389	3,614
Accrued liabilities	1,333	1,071	1,021	953	838	1,008	1,003	847	1,048	1,268
Deferred revenue	1,228	1,279	1,326	1,407	1,435	1,637	1,804	1,923	2,160	2,470
Short-term debt	628	394	1	501	262	226	865	645	536	566
Total current liabilities	16,331	11,854	11,250	9,070	8,248	9,098	11,239	11,084	11,955	10,941
Long-term debt	11,053	11,964	9,623	6,708	7,526	7,506	7,426	7,818	8,004	8,591
Lease liabilities						1,055	987	1,016	921	1,084
Other non-current liabilities	5,033	5,368	4,643	4,636	5,368	5,905	5,733	4,987	4,753	5,233
Total liabilities	38,089	30,517	26,339	21,458	22,282	23,137	24,756	24,548	25,334	24,985
Total debt	11,681	12,358	9,624	7,209	7,788	7,732	8,291	8,462	8,568	9,195
Paid-in capital	16,105	16,390	16,549	16,812	16,865	17,116	17,224	17,349	17,475	14,865
Retained earnings	9,177	5,231	6,604	4,827	2,469	2,025	1,151	1,384	848	0
Treasury stock	-20	-710	-1,053	-1,086	-1,119	-1,152	-1,203	-1,240	-1,268	-1,302
Other comprehensive income	-1,153	-473	-946	-795	-776	-434	-911	-955	-964	-642
Shareholders' equity	24,118	20,447	21,164	19,766	17,447	17,562	16,268	16,545	16,098	12,927
Minority interests	972	920	1,294	1,063	1,086	1,191	1,134	1,149	1,263	27
Total equity	25,090	21,367	22,458	20,829	18,533	18,753	17,402	17,694	17,361	12,954
Total liabilities and equity	63,179	51,884	48,797	42,287	40,815	41,890	42,158	42,242	42,695	37,939

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-652	1,819	2,383	5,887	795	1,870	1,723	2,033	1,900	3,513
Depreciation and amortization	953	919	824	825	822	845	717	745	816	865
Stock-based compensation	142	134	106	95	74	76	98	107	107	140
Deferred income tax	-765	573	-739	612	-537	36	-191	-650	-407	194
Change in receivables	-344	-225	-475	-312	534	-143	-409	-259	-537	-211
Change in inventory	1	-51	-103	-72	45	-219	-539	-58	-17	-75
Change in payables	411	-130	340	56	-717	813	847	-85	645	694
Cash from operations	1,908	371	1,520	1,743	2,479	2,551	1,237	1,856	1,568	2,554
Capital expenditures	-1,249	-760	-645	-586	-443	-552	-487	-446	-494	-434
Acquisitions	353	-6	-21	-25	-77	-725	-269	-726	-3	-10
Sales and maturities of investments			3
Cash from investing	-887	-648	1,568	-533	-258	-1,090	-693	-1,184	-184	-412
Debt issued						734	1,771	1,173	1,281	1,765
Debt repaid	-1,299	-1,275	-3,704	-2,333	-1,386	-507	-184	-1,555	-924	-1,648
Stock issued	70	157	66	171	75	178	17	42
Share buybacks	-501	-651	-300	-5,983	-2,204	-1,307	-1,441	-625	-1,246	-5,991
Dividends paid	-915	-702	-954	-920	-790	-762	-916	-980	-1,000	-976
Cash from financing	-946	-649	-3,749	-10,519	-2,824	-2,131	-516	-2,174	-1,948	-6,784
Exchange rate effect	12	54	-106	-120	115	116	-53	-5	59	-259
Net change in cash	26	-322	-132	2,621	-861	-618	725	-1,147	-150	-369
Free cash flow	659	-389	875	1,157	2,036	1,999	750	1,410	1,074	2,120
Interest paid	319	432	401	369	247	242	222	288	361	321
Income taxes paid	1,388	497	81	377	-386	504	439	294	704	606

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to March 31, 2026; growth uses fiscal years. Valuation uses the share price of $150.20 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	36.6%	Gross profit / revenue.
Pre-tax margin	10.3%	Pre-tax income / revenue.
Net margin	14.5%	Net income / revenue.
FCF margin	10.9%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	12.4%	Cash from operations / revenue.
Effective tax rate	18.0%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	26.1%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	9.2%	Net income / average total assets.
SG&A / revenue	22.8%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.6%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.5%	Capital expenditures / revenue.
D&A / revenue	3.3%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	2.8%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	4.6%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	1.1%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	6.4%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	6.6%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	3.0%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	93.0%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	29.0%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	39.1%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	99.6%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	31.9%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	43.0%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	62.9%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	27.3%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	0.6%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	97.4%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	41.4%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	0.8%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	2.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	2.8%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	7.7%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-19.7%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-7.4%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-5.8%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-11.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-3.5%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-1.5%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-3.2%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-2.2%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-2.8%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.04x	Current assets / current liabilities.
Quick ratio	0.69x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.07x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.64x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	22.5%	Total debt / total assets.
Liabilities / assets	64.7%	Total liabilities / total assets.
Net debt	$7.94B	Total debt - cash - short-term investments. Negative means more cash than debt.
Working capital	$386.0M	Current assets - current liabilities.
Goodwill and intangibles / assets	52.2%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$6.51B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.64x	Revenue / average total assets.
Fixed asset turnover	11.7x	Revenue / average property, plant and equipment.
Inventory turnover	8.02x	Cost of revenue / average inventory.
Days inventory	46 days	365 x average inventory / cost of revenue.
Receivables turnover	3.69x	Revenue / average receivables.
Days sales outstanding	99 days	365 x average receivables / revenue.
Days payables	85 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	59 days	Days inventory + days sales outstanding - days payables.
FCF conversion	75.5%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	12.2%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$5.75	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$39.79	Revenue / diluted weighted shares.
FCF per share	$4.34	Free cash flow / diluted weighted shares.
Operating cash flow per share	$4.95	Cash from operations / diluted weighted shares.
Book value per share	$22.02	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$10.61	Tangible book value / shares outstanding.
Cash per share	$1.14	(Cash + short-term investments) / shares outstanding.
Payout ratio	27.6%	Dividends paid / net income, when net income is positive.
Dividends / FCF	36.6%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	208.0%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$90.98B	Share price x shares outstanding.
Enterprise value	$98.93B	Market cap + total debt - cash - short-term investments.
P/E	25.8x	Market cap / net income. Only when net income is positive.
P/S	3.72x	Market cap / revenue.
P/B	6.73x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	34.1x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	29.9x	Market cap / cash from operations, when positive.
EV/Sales	4.05x	Enterprise value / revenue.
EV/FCF	37.1x	Enterprise value / free cash flow, when both are positive.
FCF yield	2.9%	Free cash flow / market cap.
Earnings yield	3.9%	Net income / market cap (the inverse of P/E).
Dividend yield	1.1%	Dividends paid over the period / market cap.
Shareholder yield	7.2%	(Dividends paid + share buybacks) / market cap.
PEG	0.81x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was Johnson Controls International plc's revenue in fiscal 2025?

Johnson Controls International plc reported revenue of $23.60B for fiscal 2025, 2.8% higher than the year before.

Was Johnson Controls International plc profitable in fiscal 2025?

Yes. Net income was $3.29B, a net margin of 13.9%.

How much free cash flow did Johnson Controls International plc generate in fiscal 2025?

Cash from operations of $2.55B minus capital expenditures of $434.0M left free cash flow of $2.12B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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