Fundamentals · 2026-09-09S&P 500ANNUAL BASIS

Johnson Controls

JCI stock analysis · Industrials · Building Products

FY 2025-09-30ANNUAL FILINGS
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These are research estimates based on annual filings. Valuation uses a cash-flow proxy and explicit assumptions; prices are not live. Published valuations use annual periods first filed by the price date, with later restatements retained.
Reference share price · USD
$146.11HISTORICAL SNAPSHOT

As of · fund-implied per-share value

Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.

View SEC fund filing ↗
Estimated issuer market cap
$89.1B

Price × SEC outstanding shares. Shares measured 2026-03-31. Approximate; share and price dates can differ.

View share-count filing ↗
Derived operating income

Derived consolidated operating income from the reviewed income statement, rather than a separately tagged subtotal. Gross profit less SG&A and restructuring/impairment. Excludes separately presented net financing charges and equity-method income. Continuing-operation statement scope is retained. Applies only to the two recorded fiscal periods; source history can contain later restatements. Read the financial statement ↗

Valuation

DCF value

$52.78

Equity cash-flow scenario · SEC outstanding shares at 2026-03-31 · -63.9% versus input cap

How this is calculated ↗
Valuation

Reverse DCF

31.4%

Annual basis · read assumptions below

How this is calculated ↗
Valuation

Relative valuation

-13.5%

6 industry peers · median 23.4×

How this is calculated ↗
Valuation

Historical multiples

28.7×

7 annual observations · snapshot P/E 27.1× · -5.7% versus history

How this is calculated ↗
Valuation

Free cash flow yield

2.4%

Annual basis · read assumptions below

How this is calculated ↗
Quality

ROIC / quality

7.4%

Normalized tax · financing-capital proxy

How this is calculated ↗
Valuation

Value composite

45/100

Annual basis · read assumptions below

How this is calculated ↗
Momentum

12–1 price momentum

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

How this is calculated ↗
Investment

Asset growth

-11.1%

Annual basis · read assumptions below

How this is calculated ↗
Investment

Net payout yield

Requires reported dividends, repurchases and issuance; missing values are not zero.

Requires reported dividends, repurchases and issuance; missing values are not zero.

How this is calculated ↗
Quality

Accrual quality

2.4%

Annual basis · read assumptions below

How this is calculated ↗
Momentum

Fundamental momentum

2.7%

Annual basis · read assumptions below

How this is calculated ↗

Follow the cash

ANNUAL · USD

Operating cash flow and reinvestment over time

USD · bar maximum 2.6B2020-09-30: cfo $2,479,000,000.002020-09-30: capex $443,000,000.0020202021-09-30: cfo $2,551,000,000.002021-09-30: capex $552,000,000.0020212022-09-30: cfo $1,237,000,000.002022-09-30: capex $487,000,000.0020222023-09-30: cfo $1,856,000,000.002023-09-30: capex $446,000,000.0020232024-09-30: cfo $1,568,000,000.002024-09-30: capex $494,000,000.0020242025-09-30: cfo $2,554,000,000.002025-09-30: capex $434,000,000.002025
Operating cash flowCapital expenditure

Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.

Make the assumptions yours

Personal inputs stay in this browser. Blank fields retain published inputs. Five-year forecast; zero net borrowing. Required return must exceed terminal growth.

How sensitive is the valuation?

DCF per-share sensitivity · includes reviewed preferred and minority-owner claims · rows: required return · columns: growth
Return / Growth3.0%5.0%7.0%
8.0%$66.20$72.23$78.71
10.0%$48.51$52.78$57.36
12.0%$38.27$41.53$45.02

Annual financial history

Open SEC filings ↗
Fiscal year-endRevenueNet incomeOperating cash flowCapital expenditureAssets
2025-09-3023.6B3.5B2.6B434M37.9B
2024-09-3023B1.9B1.6B494M42.7B
2023-09-3022.3B2B1.9B446M42.2B
2022-09-3020.6B1.7B1.2B487M42.2B
2021-09-3023.7B1.9B2.6B552M41.9B
2020-09-3022.3B795M2.5B443M40.8B
2019-09-3024B5.9B1.7B586M42.3B
2018-09-3023.4B2.4B1.5B645M48.8B

USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.

Trace the inputs

MODEL ANNUAL PERIOD
InputValueSEC tag / sourceFiled
revenue23.6BRevenueFromContractWithCustomerExcludingAssessedTax2025-11-14
netIncome3.5BProfitLoss
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2025-11-14
Parent/common earnings proxy3.3BNetIncomeLoss2025-11-14
cfo2.6BNetCashProvidedByUsedInOperatingActivitiesContinuingOperations2025-11-14
capex434MPaymentsToAcquireProductiveAssets2025-11-14
operatingIncome2.3BReviewed manual correction
Derived consolidated operating income from the reviewed income statement, rather than a separately tagged subtotal. Gross profit less SG&A and restructuring/impairment. Excludes separately presented net financing charges and equity-method income. Continuing-operation statement scope is retained. Applies only to the two recorded fiscal periods; source history can contain later restatements.
2025-11-14
assets37.9BAssets2025-11-14
equity13BStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2025-11-14
Parent book equity proxy12.9BStockholdersEquity2025-11-14
debt9.2BLongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities2025-11-14
shortDebt723MShortTermBorrowings2025-11-14
cash379MCashAndCashEquivalentsAtCarryingValue2025-11-14
shares654.1MWeightedAverageNumberOfDilutedSharesOutstanding2025-11-14
dividends976MPaymentsOfDividendsCommonStock2025-11-14
buybacks6BPaymentsForRepurchaseOfCommonStock2025-11-14
issuanceNot reported under a supported tag