JONES LANG LASALLE INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data JONES LANG LASALLE INC 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	12,991	14,453	16,318	17,983	16,590	19,367	20,862	20,761	23,433	26,116
Operating expenses	12,536	13,907	15,612	17,268	16,031	18,324	19,994	20,184	22,565	25,018
Operating income	456	546	707	715	559	1,044	868	577	868	1,098
Other non-operating income	19.5	1.7	17.4	2.3	15.3	10.8	150	4.9	18.9	11.7
Pre-tax income	464	536	706	698	530	1,224	994	252	679	982
Income tax	118	256	214	160	107	264	201	25.7	133	190
Net income to minority interests	16.2	3.1	7.2	2.6	20.2	-2.3	139	0.8	0	0.1
Net income	330	276	485	535	403	962	655	225	547	792
EBITDA	598	713	893	918	786	1,261	1,096	815	1,124	1,351
EPS, basic	7.29	6.09	10.64	10.98	7.79	18.89	13.51	4.73	11.51	16.73
EPS, diluted	7.23	6.03	10.54	10.87	7.70	18.47	13.27	4.67	11.30	16.40
Shares, basic (weighted)	45.2	45.3	45.5	48.6	51.7	50.9	48.5	47.6	47.5	47.4
Shares, diluted (weighted)	45.5	45.8	45.9	49.2	52.3	52.1	49.3	48.3	48.4	48.3
Dividend per share	0.64	0.72	0.82	0.86	0.00	0.00

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	259	268	481	452	574	594	519	410	416	599
Receivables	1,871	1,739	1,854	2,034	1,636	2,004	2,149	2,096	2,154	2,303
Other current assets	161	389	322	378	517	501	604	567	651	631
Total current assets	3,300	4,541	5,206	5,869	6,454	6,388	6,570	6,857	7,479	8,179
Property, plant and equipment	501	544	568	702	664	740	583	614	598	631
Lease right-of-use assets			0	804	707	723	776	731	743	712
Goodwill	2,579	2,709	2,698	4,168	4,225	4,612	4,528	4,587	4,611	4,707
Intangible assets	295	305	337	683	680	887	859	785	724	667
Other non-current assets	68.7	156	193	197	182	234	176	209	219	259
Total assets	7,629	9,254	10,026	13,673	14,317	15,505	15,594	16,065	16,764	17,801
Accounts payable	846	993	1,261	1,289	1,230	1,263	1,237	1,407	1,323	1,398
Accrued liabilities	1,065	1,419	1,605	1,729	1,433	2,030	1,750	1,698	1,769	1,930
Deferred revenue	130	155	190	159	193	208	217	226	204	237
Short-term debt	89.5	77.4	32.7	120	0	275	0	148	353	0
Total current liabilities	2,966	4,314	4,762	5,490	6,128	6,487	5,912	6,446	7,145	7,387
Long-term debt	273	691	672	665	702	396	373	779	757	806
Lease liabilities			0	751	684	714	776	755	749	774
Other non-current liabilities	161	332	387	436	598	578	407	440	419	427
Total liabilities	4,808	5,872	6,291	8,459	8,699	9,084	9,444	9,655	9,869	10,178
Total debt	273				0	275	0			0
Paid-in capital	1,013	1,038	1,057	1,963	2,023	2,054	2,023	2,020	2,033	2,069
Retained earnings	2,333	2,649	3,096	3,588	3,976	4,938	5,590	5,796	6,335	7,114
Treasury stock				0	-96.1	-406	-935	-920	-938	-1,094
Other comprehensive income	-551	-341	-456	-428	-377	-395	-648	-592	-647	-573
Shareholders' equity	2,790	3,340	3,692	5,118	5,521	6,185	6,021	6,294	6,772	7,503
Minority interests	25	38.1	43	86.6	89.2	229	122	116	124	120
Total equity	2,889	3,378	3,735	5,205	5,610	6,413	6,143	6,410	6,895	7,623
Total liabilities and equity	7,629	9,254	10,026	13,673	14,317	15,505	15,594	16,065	16,764	17,801
Shares outstanding	45.2	45.4	45.6	51.5	51.1	50	47.5	47.5	47.4	46.9

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	346	280	492	538	423	959	793	226	547	792
Depreciation and amortization	142	167	186	202	226	218	228	238	256	253
Stock-based compensation	26.9	25.2	0	28	36.7	17.8	6.1	3.4	2.3	2.7
Change in receivables	-239	-204	-230	-330	414	-436	-291	11.1	-208	-149
Change in payables	24.7	436	372	-64.7	177	-12.8	-78.4	78.5	36.2	60.9
Cash from operations	223	799	604	484	1,115	972	200	576	785	1,194
Capital expenditures	-99.8	-2.3	-47.1
Acquisitions	-484	-18.7	-101	-801	0	-417	-5.7	-13.6	-60.9	-7.7
Cash from investing	-806	-171	-280	-1,050	-171	-806	-243	-290	-317	-337
Debt issued	0	396	0	0		0	0	400	0	0
Debt repaid					0	0	-275	0	0
Share buybacks			0	0	-100	-343	-601	-61.6	-80.7	-212
Dividends paid	-29.4	-33.1	-37.8	-42.7	0	0
Cash from financing	636	-624	-141	585	-771	-144	-13.1	-374	-451	-643
Exchange rate effect	-7	13.3	-19.9	-0.8	14.8	-21	-39.3	6.3	-28	31.9
Net change in cash	46.5	17.7	163	17.9	188	1.8	-95.6	-82.6	-10.7	246
Free cash flow	123	796	557
Interest paid	34.8	47.6	49.2	58.5	50.2	38.8	74.3	145	147	119
Income taxes paid	144	145	-153	-281	-139	-263	-321	159	285	226

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $321.91 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	4.7%	Operating income / revenue.
EBITDA margin	5.5%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	4.5%	Pre-tax income / revenue.
Net margin	3.6%	Net income / revenue.
Operating cash flow margin	5.0%	Cash from operations / revenue.
Effective tax rate	19.3%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	13.4%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	5.7%	Net income / average total assets.
Return on invested capital (ROIC)	14.3%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue	0.0%	Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue	0.8%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	11.4%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	7.8%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	9.5%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	26.5%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	8.1%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	14.5%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	20.2%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	7.2%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	11.5%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	44.9%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	6.6%	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	14.5%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	45.1%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	7.3%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	16.3%	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	52.1%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	81.4%	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	1.4%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	10.8%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	7.6%	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	6.3%	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	6.2%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	4.5%	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	4.5%	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	-0.1%	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	-0.7%	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	-1.6%	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	1.13x	Current assets / current liabilities.
Quick ratio	0.39x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.07x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.03x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	1.1%	Total debt / total assets.
Liabilities / assets	56.5%	Total liabilities / total assets.
Net debt	-$258.3M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	-0.17x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	$874.4M	Current assets - current liabilities.
Goodwill and intangibles / assets	30.7%	(Goodwill + intangible assets) / total assets.
Tangible book value	$2.10B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.57x	Revenue / average total assets.
Fixed asset turnover	43.2x	Revenue / average property, plant and equipment.
Receivables turnover	12.3x	Revenue / average receivables.
Days sales outstanding	30 days	365 x average receivables / revenue.

Per share

Metric	Value	How it is calculated
EPS, diluted	$21.29	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	$584.62	Revenue / diluted weighted shares.
Operating cash flow per share	$29.03	Cash from operations / diluted weighted shares.
Book value per share	$162.19	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$45.63	Tangible book value / shares outstanding.
Cash per share	$9.96	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$14.81B	Share price x shares outstanding.
Enterprise value	$14.55B	Market cap + total debt - cash - short-term investments.
P/E	14.8x	Market cap / net income. Only when net income is positive.
P/S	0.54x	Market cap / revenue.
P/B	1.98x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	7.05x	Market cap / tangible book value, when positive.
P/OCF	10.9x	Market cap / cash from operations, when positive.
EV/Sales	0.53x	Enterprise value / revenue.
EV/EBIT	11.4x	Enterprise value / operating income, when both are positive.
EV/EBITDA	9.67x	Enterprise value / EBITDA, when both are positive.
Earnings yield	6.7%	Net income / market cap (the inverse of P/E).
Shareholder yield	3.8%	(Dividends paid + share buybacks) / market cap.
PEG	2.03x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was JONES LANG LASALLE INC's revenue in fiscal 2025?

JONES LANG LASALLE INC reported revenue of $26.12B for fiscal 2025, 11.4% higher than the year before.

Was JONES LANG LASALLE INC profitable in fiscal 2025?

Yes. Net income was $792.1M, a net margin of 3%.

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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