JLLJONES LANG LASALLE INC
Real Estate Agents & Managers (for Others)
- Revenue
- $26.1B
- 11% YoY
- Operating margin
- 4.2%
- 13% YoY
- EBITDA
- $1.4B
- 20% YoY
- Market cap
- $16.4B
- Employees
- 100,000
- $261K revenue each
- Net debt / EBITDA
- 0.6×
- $849M net debt
- AI in 10-K
- 6.2
- mentions per 10K words
Takeover score 3 of 13
Fixable underperformance 1 of 7
- TSR below peersYes4 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$13M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo151% of net incomeCash flow under 80% of net income
- Dilutive SBCNo0% of revenueOver 10% of revenue
- Payouts exceed cash flowNo18% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo26% of assetsOver 40% of assets
- Shareholder dissentNo96% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeYes$261K · 20th pctBottom quartile of its SIC industry
- Quiet on AINo6.2 per 10K words · 86th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo0.6× EBITDA net debtMore cash than debt, positive EBITDA
- Buyout-sizedNo$16.4B market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingYes−$16M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $19.4B | $20.9B | $20.8B | $23.4B | $26.1B | 11% |
| Operating income | $1.0B | $868M | $577M | $868M | $1.1B | 26% |
| Net income | $962M | $655M | $225M | $547M | $792M | 45% |
| Operating cash flow | $972M | $200M | $576M | $785M | $1.2B | 52% |
| Stock-based comp | $18M | $6M | $3M | $2M | $3M | 17% |
| Buybacks | $343M | $601M | $62M | $81M | $212M | 162% |
| Dividends | $0 | — | — | — | — |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $16M · 17
- Net
- −$16M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $15M | $40M | 227 | 231 |
| FY2024 | $17M | $32M | 171 | 189 |
| FY2023 | $12M | $11M | 127 | 140 |
| FY2022 | $12M | −$8M | 107 | 115 |
| FY2021 | $13M | $33M | 182 | 169 |