Jones Lang Lasalle
JLL · NYSEReal Estate Agents & Managers (For Others) · Fiscal year ends Dec 31
Jones Lang Lasalle reported revenue of $26.1B in the fiscal year ended Dec 2025, up 11.4% from the year before. Operating income was $1.1B, an operating margin of 4.2%, and net income was $792M. Net debt was $207M.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $19.4B | $20.9B | $20.8B | $23.4B | $26.1B |
| Operating income | $1B | $868M | $577M | $868M | $1.1B |
| Net interest incomeBanks | −$40M | −$75M | −$135M | −$137M | −$107M |
| Pre-tax income | $1.2B | $994M | $252M | $679M | $982M |
| Income tax | $264M | $201M | $26M | $133M | $190M |
| Net income | $962M | $655M | $225M | $547M | $792M |
| Diluted EPS | 18.47 | 13.27 | 4.67 | 11.30 | 16.40 |
| Diluted shares | 52M | 49M | 48M | 48M | 48M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $594M | $519M | $410M | $416M | $599M |
| Receivables | $2B | $2.1B | $2.1B | $2.2B | $2.3B |
| Current assets | $6.4B | $6.6B | $6.9B | $7.5B | $8.2B |
| Net PP&E | $740M | $583M | $614M | $598M | $631M |
| Goodwill | $4.6B | $4.5B | $4.6B | $4.6B | $4.7B |
| Total assets | $15.5B | $15.6B | $16.1B | $16.8B | $17.8B |
| Deferred revenue | $129M | $151M | $166M | $155M | $187M |
| Current liabilities | $6.5B | $5.9B | $6.4B | $7.1B | $7.4B |
| Short-term debt | $275M | $0 | $148M | $353M | $0 |
| Long-term debt | $396M | $373M | $779M | $757M | $806M |
| Total liabilities | $9.1B | $9.4B | $9.7B | $9.9B | $10.2B |
| Shareholders' equity | $6.2B | $6B | $6.3B | $6.8B | $7.5B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $972M | $200M | $576M | $785M | $1.2B |
| Depreciation & amortisation | $218M | $228M | $238M | $256M | $253M |
| Stock-based compensation | $18M | $6M | $3M | $2M | $3M |
| Acquisitions | $417M | $6M | $14M | $61M | $8M |
| Share buybacks | $343M | $601M | $62M | $81M | $212M |
| Dividends paid | $0 | – | – | – | – |
| Dividend per share | 0.00 | – | – | – | – |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 7.7% | −0.5% | 12.9% | 11.4% |
| Operating income growth (YoY) | – | −16.8% | −33.6% | 50.6% | 26.5% |
| EPS growth (YoY) | – | −28.2% | −64.8% | 142.0% | 45.1% |
| Operating margin | 5.4% | 4.2% | 2.8% | 3.7% | 4.2% |
| Net margin | 5.0% | 3.1% | 1.1% | 2.3% | 3.0% |
| Return on equityBlank when equity is negative | 15.5% | 10.9% | 3.6% | 8.1% | 10.6% |
| ROCEEBIT ÷ (assets − current liabilities) | 11.6% | 9.0% | 6.0% | 9.0% | 10.5% |
| Cash conversion (CFO ÷ net income) | 1.01x | 0.31x | 2.55x | 1.44x | 1.51x |
| Receivable days | 38 | 38 | 37 | 34 | 32 |
| Debt ÷ equity | 0.11x | 0.06x | 0.15x | 0.16x | 0.11x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $77M | −$147M | $517M | $694M | $207M |
| Current ratio | 0.98x | 1.11x | 1.06x | 1.05x | 1.11x |
Recent filings
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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.