Johnson Controls International
JCI · NYSEAir-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip · Fiscal year ends Sep 30
Johnson Controls International reported revenue of $23.6B in the fiscal year ended Sep 2025, up 2.8% from the year before. Net income was $3.3B. Operating cash flow of $2.6B less capital expenditure of $434M left free cash flow of $2.1B. Net debt was $9.5B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Revenue | $23.7B | $20.6B | $22.3B | $23B | $23.6B |
| Cost of revenue | $15.6B | $13.5B | $14.5B | $14.9B | $15B |
| Gross profit | $8.1B | $7.1B | $7.8B | $8.1B | $8.6B |
| Research & development | $275M | $236M | $251M | $267M | $273M |
| Selling, general & admin | $5.3B | $5.1B | $5.4B | $5.7B | $5.8B |
| Interest expense | $219M | $225M | – | – | – |
| Pre-tax income | $2.6B | $1.1B | $1.1B | $1.5B | $2B |
| Income tax | $868M | −$182M | −$468M | $111M | $245M |
| Net income | $1.6B | $1.5B | $1.8B | $1.7B | $3.3B |
| Diluted EPS | 2.27 | 2.19 | 2.69 | 2.52 | 5.03 |
| Diluted shares | 721M | 700M | 687M | 676M | 654M |
Balance sheet
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $1.3B | $2B | $828M | $606M | $379M |
| Receivables | $5.6B | $5.7B | $5.5B | $6.1B | $6.3B |
| Inventory | $2.1B | $2.7B | $1.9B | $1.8B | $1.8B |
| Current assets | $10B | $11.7B | $10.7B | $11.2B | $10.2B |
| Net PP&E | $3.2B | $2.3B | $2.4B | $2.4B | $2.2B |
| Goodwill | $18.3B | $16.2B | $16.8B | $16.7B | $16.6B |
| Total assets | $41.9B | $42.2B | $42.2B | $42.7B | $37.9B |
| Payables | $3.7B | $4.4B | $3.5B | $3.4B | $3.6B |
| Deferred revenue | $1.6B | $1.8B | $1.9B | $2.2B | $2.5B |
| Current liabilities | $9.1B | $11.2B | $11.1B | $12B | $10.9B |
| Short-term debt | $8M | $669M | $361M | $953M | $723M |
| Long-term debt | $7.5B | $7.4B | $8.5B | $8.6B | $9.2B |
| Shareholders' equity | $17.6B | $16.3B | $16.5B | $16.1B | $12.9B |
| Backlog (remaining obligations) | $16.1B | – | $19.6B | $21.1B | $22.7B |
Cash flow
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $2.6B | $1.2B | $1.9B | $1.6B | $2.6B |
| Capital expenditure | $552M | $487M | $446M | $494M | $434M |
| Free cash flow | $2B | $750M | $1.4B | $1.1B | $2.1B |
| Depreciation & amortisation | $845M | $717M | $745M | $816M | $865M |
| Stock-based compensation | $76M | $98M | $107M | $107M | $140M |
| Acquisitions | $725M | $269M | $726M | $3M | $10M |
| Share buybacks | $1.3B | $1.4B | $625M | $1.2B | $6B |
| Dividends paid | $762M | $916M | $980M | $1B | $976M |
| Dividend per share | 1.07 | 1.39 | 1.45 | 1.48 | 1.51 |
Key ratios
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −12.8% | 8.2% | 2.8% | 2.8% |
| EPS growth (YoY) | – | −3.5% | 22.8% | −6.3% | 99.6% |
| Gross margin | 34.1% | 34.4% | 34.9% | 35.2% | 36.4% |
| Net margin | 6.9% | 7.4% | 8.3% | 7.4% | 13.9% |
| Return on equityBlank when equity is negative | 9.3% | 9.4% | 11.2% | 10.6% | 25.5% |
| Free cash flow margin | 8.4% | 3.6% | 6.3% | 4.7% | 9.0% |
| Cash conversion (CFO ÷ net income) | 1.56x | 0.81x | 1.00x | 0.92x | 0.78x |
| Receivable days | 87 | 101 | 90 | 96 | 97 |
| Inventory days | 48 | 72 | 47 | 44 | 44 |
| Payable days | 88 | 118 | 88 | 83 | 88 |
| Debt ÷ equity | 0.43x | 0.50x | 0.53x | 0.59x | 0.77x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $6.2B | $6.1B | $8B | $8.9B | $9.5B |
| Current ratio | 1.10x | 1.04x | 0.97x | 0.94x | 0.93x |
Recent filings
More in Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.