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Jones Lang LaSalle Inc (JLL)

Fair Value
Real EstateReal Estate ServicesUnited States

Fundamental

79

Price

$305.52

Market Cap

$14.45B

Part 1 · What the company is worth

Overview

Jones Lang LaSalle Incorporated operates as a commercial real estate and investment management company. It engages in buying, building, occupying, managing, and investing in office, industrial, hotel, multi-family, retail and data center properties in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company also offers agency leasing, tenant representation, property management, advisory, and consulting services; and debt advisory, loan sales and servicing, value and risk advisory, equity and funds placement, merger and acquisition, corporate advisory, and investment sales and advisory services. In addition, it provides on-site real estate management services for office, industrial, retail, multifamily residential, and other properties; cloud-based software solutions; integrated facilities management, space planning, office design, and workplace strategy consulting services; program and project management, implementation and support, managed services, and advisory/consulting services; and investment management services to institutional investors and high-net-worth individuals, as well as designing, building, management, and consulting services to tenants of leased space, owners in self-occupied buildings, and owners of real estate investments. It provides its services to real estate owners, occupiers, investors, and developers for various property types, including critical environments and data centers, offices, industrial and warehouses, residential properties, infrastructure projects, retail and shopping malls, logistics, and military housing and transportation centers; and hotels and hospitality, cultural, educational, government, healthcare and laboratory, and sports facilities. The company was formerly known as LaSalle Partners Incorporated and changed its name to Jones Lang LaSalle Incorporated in March 1999. Jones Lang LaSalle Incorporated was incorporated in 1997 and is headquartered in Chicago, Illinois.

No editorial profile for this company yet

Direct competitors

Who this company fights with for the same customers

Compare

Generated on September 19, 2026 with claude-haiku-4-5 — shared with all users

P/E: 29.5Score: 63Market cap: $37.75B

CBRE is the other global full-service commercial real estate firm, bidding against JLL for the same corporate outsourcing contracts, leasing mandates and capital markets transactions worldwide.

Colliers competes for the same brokerage, valuation and investment management fees across North America, Europe and Asia-Pacific, often for mid-market and regional clients JLL also pursues.

P/E: 15.1Score: 63Market cap: —

Newmark competes head-on in US capital markets, debt placement and office leasing, and recruits brokers from the same pool JLL depends on.

Cushman & Wakefield plcCWK

Cushman & Wakefield offers the same integrated package of leasing, property management and facilities outsourcing to multinational occupiers and investors that JLL sells.

Savills plcSVS

Savills competes with JLL for advisory, leasing and investment sales mandates in the UK, continental Europe and Asia, where its brand is strongest.

Knight Frank LLPNot tracked

Knight Frank, a private UK partnership, competes for the same commercial and prime residential advisory mandates in Europe, the Middle East and Asia-Pacific.

Balance Sheet & Liquidity

Revenue

$27.43B

Trailing 12 months (through 6/30/2026)

Net Income

$998M

Trailing 12 months (through 6/30/2026)

Free Cash Flow

-

Total Equity

$7.50B

Total Liabilities

$10.18B

Current Ratio

1.13

Interest Coverage

14.05

Debt/EBITDA

1.86

Earnings Per Share

Revenue & Net Income

Free Cash Flow

Income Breakdown

Historical statement

Margins over time

Debt over time

How heavy the debt is

Growth grid

Growth — Revenue

Fair Value Estimation

General caseFairly Valued

Fair Value

$392.84

Current Price

$305.52

Margin of Safety

+22.2%

Fair Value Range

$255.34 - $530.33

Spread across the valuation methods used, not a statistically calibrated confidence interval.

Estimation Methods

Analyst price target:$427.00
Discounted cash flow (DCF):$392.25
Earnings multiple (P/E):$261.75
Graham growth formula:$748.97
Earnings power value (EPV):$182.68
Justified P/B:$191.14
Dividend discount (Gordon):Not enough data to compute it
P/FFO, funds from operations:$363.38
Mid-cycle earnings:$375.12
Revenue multiple:$564.60
Analyst Consensus:Strong Buy (11B / 5H / 0S)
Last Earnings Surprise:+14.36%

Valuation Metrics

P/E Ratio

14.65

ROE

10.6%

P/B Ratio

1.88

P/FCF

-

Gross Margin

-

ROIC

9.6%

Profitability Radar

Value Creation (Economic Moat)

ROIC

9.6%

WACC

10.5%

ROIC − WACC

-0.9 pp

ROIC is roughly in line with the cost of capital — the company is barely covering its capital cost.

Fundamental Analysis Criteria

Passed (19)

  • EPS shows upward trend
  • EPS CAGR 11.86%
  • Price CAGR 13.13%
  • ROIC 9.6%
  • P/B Ratio 1.88
  • Debt/Equity ratio
  • Current Ratio
  • Interest Coverage
  • Debt/EBITDA
  • Return on Tangible Assets
  • ROE 13.6%
  • Revenue Growth 5Y 9.5%
  • Analyst Consensus 69% Buy
  • Earnings Surprise avg 12.6%
  • PEG Ratio 0.90
  • Earnings Quality (OCF/NI) 1.37
  • Share Dilution -0.2%
  • Net Margin Trend 3.6% vs 2.3%
  • Piotroski F-Score 8/9

Failed (4)

  • Operating Margin 4.7%
  • Low reliance on intangibles
  • Price below Graham Number
  • DCF valuation (Overvalued)

Unavailable (5)

  • Gross Margin NaN%
  • P/FCF NaN
  • Dividend Payout NaN%
  • Positive Free Cash Flow
  • CapEx intensity

Piotroski F-Score

8/9

Strong financial health

score
criteria

Earnings Quality

1.37

High quality: earnings backed by cash

Share Dilution

-0.2%

Buying back shares. Shareholder friendly

Institutional Holdings

Governance

Executive Team

NameTitleAge
Mr. Christian UlbrichChairman of Global Executive Board, President, Global CEO & Director59
Ms. Kelly HoweCFO & Member of Global Executive Board-
Mr. Richard W. BloxamGlobal CEO of Capital Markets & Member of Global Executive Board53
Mr. Neil D. MurrayCEO of Real Estate Management Services & Member of Global Executive Board49
Mr. Mihir ShahCEO of JLL Technologies, Co-CEO of Spark & Member of Global Executive Board50
Ms. Karen G. BrennanCEO of JLL's Leasing Advisory Business & Member of Global Executive Board48
Mr. Andy PoppinkCEO of Leasing Advisory of EMEA & APAC and Member of the Global Executive Board51
Ms. Laura AdamsChief Human Resources Officer & Member of Global Executive Board56
Mr. Alastair BennChief Operating Officer-
Mr. Benjamin HawkeChief Accounting Officer40

Audit Risk

2

Board Risk

1

Compensation Risk

3

Shareholder Rights Risk

5

Part 2 · The price and when to enter

This part won't tell you whether the company is worth owning: it helps you choose when to buy it, once the fundamentals have convinced you. Inside: technical analysis, potential, historical drawdowns, gamma exposure.

Documents

  • Annual Report (10-K)

    A yearly overview of the business, its financial results, and the risks it faces.

    Filed on 2026-02-19

    View document
  • Quarterly Report (10-Q)

    A snapshot of financial performance for the most recent three-month period.

    Filed on 2026-07-30

    View document
  • Current Report (8-K)

    An announcement of a major event, such as a leadership change or big news.

    Filed on 2026-09-30

    View document

via SEC EDGAR

Income History

via SEC EDGAR

Latest News

Recent headlines for JLL, sourced from Markets Gazette.

  • 4/10/2026POSITIVE
    7 Stocks Leading the Real Estate Recovery

    The commercial real estate sector is showing signs of recovery, with several stocks within the space now considered undervalued. Jones Lang LaSalle Inc. (JLL), a prominent player in real estate services, is highlighted as a key company presenting profitable investment opportunities. This positive outlook suggests that investors may see significant upside potential in JLL and similar firms as the sector gains momentum, driven by improving market conditions and potentially lower valuations.

  • 2/23/2026POSITIVE
    Assessing Jones Lang LaSalle: Insights From 5 Financial Analysts

    Jones Lang LaSalle (JLL) continues to garner consensus among financial analysts, solidifying its position as a stock to watch closely in the real estate services sector. Recent ratings from prominent research firms like Wolfe Research and Raymond James have confirmed an "Outperform" rating. This series of consistently maintained positive ratings reflects strong confidence in JLL's growth prospects and corporate strategy. For investors, a bullish consensus from multiple analysts is a significant signal of potential stock appreciation. The cohesive ratings suggest that the company's operational performance and market position are considered robust, providing a favorable indication for those considering an investment in JLL's stock.

via Markets Gazette