Jones Lang LaSalle Incorporated

DB:4J2 Stock Report

Market Cap: €12.7b

Jones Lang LaSalle Valuation

Is 4J2 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 4J2 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 4J2 (€270) is trading below our estimate of fair value (€412.74)

Significantly Below Fair Value: 4J2 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 4J2?

Key metric: As 4J2 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 4J2. This is calculated by dividing 4J2's market cap by their current earnings.
What is 4J2's PE Ratio?
PE Ratio28x
EarningsUS$478.00m
Market CapUS$13.44b

Price to Earnings Ratio vs Peers

How does 4J2's PE Ratio compare to its peers?

The above table shows the PE ratio for 4J2 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average54.7x
SPB Sedlmayr Grund und Immobilien
63.5xn/a€903.2m
GWK3 GAG Immobilien
24xn/a€832.4m
FSV FirstService
81.3x23.2%CA$12.3b
CIGI Colliers International Group
50.1x14.9%CA$10.7b
4J2 Jones Lang LaSalle
28x17.7%€13.4b

Price-To-Earnings vs Peers: 4J2 is good value based on its Price-To-Earnings Ratio (28x) compared to the peer average (54.7x).

Price to Earnings Ratio vs Industry

How does 4J2's PE Ratio compare vs other companies in the European Real Estate Industry?

29 CompaniesPrice / EarningsEstimated GrowthMarket Cap
4J2 28.0xIndustry Avg. 18.2xNo. of Companies32PE01632486480+
29 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 4J2 is expensive based on its Price-To-Earnings Ratio (28x) compared to the European Real Estate industry average (18.1x).

Price to Earnings Ratio vs Fair Ratio

What is 4J2's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

4J2 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio28x
Fair PE Ratio24.1x

Price-To-Earnings vs Fair Ratio: 4J2 is expensive based on its Price-To-Earnings Ratio (28x) compared to the estimated Fair Price-To-Earnings Ratio (24.1x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 4J2 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€270.00
€276.45
+2.4%
14.0%€338.99€207.42n/a8
Nov ’25€248.00
€250.58
+1.0%
12.0%€287.40€200.25n/a7
Oct ’25€242.00
€238.87
-1.3%
10.6%€279.59€194.81n/a7
Sep ’25€226.00
€229.47
+1.5%
8.7%€259.32€194.49n/a7
Aug ’25€230.00
€219.60
-4.5%
7.9%€247.28€193.77n/a7
Jul ’25€191.00
€211.28
+10.6%
7.8%€237.01€186.62n/a7
Jun ’25€183.00
€206.61
+12.9%
8.0%€233.98€184.24n/a7
May ’25€171.00
€203.71
+19.1%
9.1%€228.98€176.85n/a7
Apr ’25€179.00
€189.87
+6.1%
4.5%€200.65€174.88n/a7
Mar ’25€176.00
€184.03
+4.6%
6.6%€201.17€166.10n/a7
Feb ’25€164.00
€179.84
+9.7%
5.0%€193.89€165.40n/a7
Jan ’25€171.00
€173.09
+1.2%
10.7%€199.15€138.95n/a7
Dec ’24€142.00
€168.71
+18.8%
12.0%€197.13€137.54n/a7
Nov ’24€120.00
€180.17
+50.1%
10.0%€204.49€152.18€248.007
Oct ’24€132.00
€181.00
+37.1%
9.4%€202.80€152.55€242.007
Sep ’24€159.00
€181.00
+13.8%
9.4%€202.80€152.55€226.007
Aug ’24€151.00
€175.41
+16.2%
12.0%€199.56€139.33€230.007
Jul ’24€143.00
€172.64
+20.7%
17.1%€218.97€132.85€191.007
Jun ’24€131.00
€170.71
+30.3%
21.2%€222.80€114.66€183.008
May ’24€123.00
€168.08
+36.7%
19.6%€216.41€120.43€171.008
Apr ’24€129.00
€183.80
+42.5%
13.8%€220.33€142.89€179.008
Mar ’24€164.00
€190.39
+16.1%
11.2%€224.16€150.06€176.007
Feb ’24€169.00
€184.64
+9.3%
12.1%€219.86€147.18€164.007
Jan ’24€150.00
€208.17
+38.8%
24.7%€318.02€151.89€171.007
Dec ’23€161.00
€209.77
+30.3%
25.9%€323.41€148.67€142.007
Nov ’23€160.00
€247.39
+54.6%
20.1%€339.66€173.38€120.007

Analyst Forecast: Target price is less than 20% higher than the current share price.

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