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Johnson Controls International

NYSE:JCI
Snowflake Description

Average dividend payer and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
JCI
NYSE
$34B
Market Cap
  1. Home
  2. US
  3. Capital Goods
Company description

Johnson Controls International plc operates as a diversified technology and multi industrial company worldwide. The last earnings update was 46 days ago. More info.


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JCI Share Price and Events
Price Volatility
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Industry
5yr Volatility vs Market
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Value

 Is Johnson Controls International undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Johnson Controls International to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Johnson Controls International.

NYSE:JCI Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 13 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.9%
Perpetual Growth Rate 10-Year US Government Bond Rate 3%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:JCI
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 3%
Equity Risk Premium S&P Global 7.1%
Building Unlevered Beta Simply Wall St/ S&P Global 0.76
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.759 (1 + (1- 12.5%) (34.95%))
0.991
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.99
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.95% + (0.991 * 7.05%)
9.94%

Discounted Cash Flow Calculation for NYSE:JCI using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Johnson Controls International is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:JCI DCF 1st Stage: Next 5 year cash flow forecast
2018 2019 2020 2021 2022
Levered FCF (USD, Millions) 1,633.33 2,466.80 3,236.00 3,679.00 3,341.80
Source Analyst x6 Analyst x5 Analyst x2 Analyst x1 Est @ -9.17%
Present Value
Discounted (@ 9.94%)
1,485.67 2,040.92 2,435.28 2,518.35 2,080.72
Present value of next 5 years cash flows $10,560.93
NYSE:JCI DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2022 × (1 + g) ÷ (Discount Rate – g)
= $3,341.80 × (1 + 2.95%) ÷ (9.94% – 2.95%)
$49,222.66
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= $49,222.66 ÷ (1 + 9.94%)5
$30,647.69
NYSE:JCI Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= $10,560.93 + $30,647.69
$41,208.63
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $41,208.63 / 924.92
$44.55
NYSE:JCI Discount to Share Price
Calculation Result
Value per share (USD) From above. $44.55
Current discount Discount to share price of $37.55
= -1 x ($37.55 - $44.55) / $44.55
15.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Johnson Controls International is available for.
Intrinsic value
16%
Share price is $37.55 vs Future cash flow value of $44.55
Current Discount Checks
For Johnson Controls International to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Johnson Controls International's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Johnson Controls International's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Johnson Controls International's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Johnson Controls International's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:JCI PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-06-30) in USD $2.44
NYSE:JCI Share Price ** NYSE (2018-08-15) in USD $37.55
United States of America Building Industry PE Ratio Median Figure of 69 Publicly-Listed Building Companies 21.43x
United States of America Market PE Ratio Median Figure of 7,193 Publicly-Listed Companies 18.22x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Johnson Controls International.

NYSE:JCI PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:JCI Share Price ÷ EPS (both in USD)

= 37.55 ÷ 2.44

15.36x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Johnson Controls International is good value based on earnings compared to the US Building industry average.
  • Johnson Controls International is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Johnson Controls International's expected growth come at a high price?
Raw Data
NYSE:JCI PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 15.36x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts
11%per year
United States of America Building Industry PEG Ratio Median Figure of 63 Publicly-Listed Building Companies 1.69x
United States of America Market PEG Ratio Median Figure of 5,693 Publicly-Listed Companies 1.59x

*Line of best fit is calculated by linear regression .

NYSE:JCI PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 15.36x ÷ 11%

1.4x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Johnson Controls International is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Johnson Controls International's assets?
Raw Data
NYSE:JCI PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-06-30) in USD $22.46
NYSE:JCI Share Price * NYSE (2018-08-15) in USD $37.55
United States of America Building Industry PB Ratio Median Figure of 76 Publicly-Listed Building Companies 2.9x
United States of America Market PB Ratio Median Figure of 11,718 Publicly-Listed Companies 1.87x
NYSE:JCI PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:JCI Share Price ÷ Book Value per Share (both in USD)

= 37.55 ÷ 22.46

1.67x

* Primary Listing of Johnson Controls International.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Johnson Controls International is good value based on assets compared to the US Building industry average.
X
Value checks
We assess Johnson Controls International's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Building industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Building industry average (and greater than 0)? (1 check)
  5. Johnson Controls International has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Johnson Controls International expected to perform in the next 1 to 3 years based on estimates from 13 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
11%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Johnson Controls International expected to grow at an attractive rate?
  • Johnson Controls International's earnings growth is expected to exceed the low risk savings rate of 3%.
Growth vs Market Checks
  • Johnson Controls International's earnings growth is positive but not above the United States of America market average.
  • Johnson Controls International's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:JCI Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:JCI Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts 11%
NYSE:JCI Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 13 Analysts 3.5%
United States of America Building Industry Earnings Growth Rate Market Cap Weighted Average 13.5%
United States of America Building Industry Revenue Growth Rate Market Cap Weighted Average 4.9%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 12.1%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 6.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:JCI Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:JCI Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-09-30 34,952 4,762 3,184 2
2020-09-30 33,540 4,129 2,988 9
2019-09-30 32,547 3,763 2,710 13
2018-09-30 31,326 2,666 2,359 12
NYSE:JCI Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-06-30 31,166 2,576 2,266
2018-03-31 30,729 2,064 2,098
2017-12-31 30,521 1,768 1,512
2017-09-30 30,172 12 1,654
2017-06-30 28,290 -104 666
2017-03-31 25,761 -245 458
2016-12-31 23,227 23 824
2016-09-30 20,837 1,895 732
2016-06-30 23,332 1,433 848
2016-03-31 27,786 2,021 1,004
2015-12-31 32,251 1,747 1,238
2015-09-30 17,100 1,600 814

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Johnson Controls International's earnings are expected to grow by 11% yearly, however this is not considered high growth (20% yearly).
  • Johnson Controls International's revenue is expected to grow by 3.5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:JCI Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below

All data from Johnson Controls International Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:JCI Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-09-30 3.43 3.43 3.43 1.00
2020-09-30 3.35 3.69 3.02 4.00
2019-09-30 2.94 3.24 2.60 7.00
2018-09-30 2.40 2.83 2.04 6.00
NYSE:JCI Past Financials Data
Date (Data in USD Millions) EPS *
2018-06-30 2.44
2018-03-31 2.26
2017-12-31 1.62
2017-09-30 1.77
2017-06-30 0.75
2017-03-31 0.56
2016-12-31 1.11
2016-09-30 1.10
2016-06-30 1.31
2016-03-31 1.54
2015-12-31 1.90
2015-09-30 1.24

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Johnson Controls International is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Johnson Controls International's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Johnson Controls International has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Johnson Controls International performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Johnson Controls International's growth in the last year to its industry (Building).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Johnson Controls International's year on year earnings growth rate has been positive over the past 5 years.
  • Johnson Controls International's 1-year earnings growth exceeds its 5-year average (240.2% vs 1.2%)
  • Johnson Controls International's earnings growth has exceeded the US Building industry average in the past year (240.2% vs 12.4%).
Earnings and Revenue History
Johnson Controls International's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Johnson Controls International Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:JCI Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-06-30 31,166.00 2,266.00 5,223.00 360.00
2018-03-31 30,729.00 2,098.00 5,298.00 360.00
2017-12-31 30,521.00 1,512.00 5,443.00 360.00
2017-09-30 30,172.00 1,654.00 5,596.00 360.00
2017-06-30 28,290.00 666.00 6,154.00 158.00
2017-03-31 25,761.00 458.00 5,474.00 158.00
2016-12-31 23,227.00 824.00 4,645.00 158.00
2016-09-30 20,837.00 732.00 3,916.00 158.00
2016-06-30 23,332.00 848.00 2,932.00 733.00
2016-03-31 27,786.00 1,004.00 2,975.00 733.00
2015-12-31 32,251.00 1,238.00 3,080.00 733.00
2015-09-30 17,100.00 814.00 3,048.00 134.00
2015-06-30 38,382.00 1,767.00 3,448.00 792.00
2015-03-31 38,607.00 1,494.00 3,474.00 792.00
2014-12-31 38,876.00 1,452.00 3,424.00 792.00
2014-09-30 38,749.00 1,404.00 3,431.00 792.00
2014-06-30 39,497.00 1,127.00 2,882.00 791.00
2014-03-31 40,163.00 1,427.00 2,887.00 791.00
2013-12-31 40,798.00 1,167.00 3,003.00 791.00
2013-09-30 37,145.00 992.00 2,997.00 791.00
2013-06-30 41,102.00 973.00 4,482.00
2013-03-31 41,184.00 874.00 4,464.00
2012-12-31 41,647.00 1,103.00 4,446.00
2012-09-30 40,604.00 1,099.00 3,477.00 834.00
2012-06-30 42,351.00 1,563.00 4,267.00
2012-03-31 42,134.00 1,489.00 4,418.00
2011-12-31 41,713.00 1,464.00 4,382.00
2011-09-30 40,833.00 1,415.00 4,294.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Johnson Controls International has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Johnson Controls International used its assets less efficiently than the US Building industry average last year based on Return on Assets.
  • Johnson Controls International's use of capital has not improved over the past 3 years (Return on Capital Employed).
X
Past performance checks
We assess Johnson Controls International's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Building industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Johnson Controls International has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Johnson Controls International's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Johnson Controls International's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Johnson Controls International is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Johnson Controls International's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Johnson Controls International's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Johnson Controls International Company Filings, last reported 1 month ago.

NYSE:JCI Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-06-30 22,040.00 11,956.00 283.00
2018-03-31 22,115.00 12,098.00 268.00
2017-12-31 21,726.00 12,500.00 552.00
2017-09-30 21,578.00 13,572.00 321.00
2017-06-30 20,804.00 14,271.00 458.00
2017-03-31 20,369.00 13,476.00 412.00
2016-12-31 20,555.00 13,250.00 377.00
2016-09-30 25,324.00 12,759.00 579.00
2016-06-30 10,774.00 8,006.00 467.00
2016-03-31 11,119.00 7,033.00 358.00
2015-12-31 11,653.00 7,155.00 415.00
2015-09-30 10,710.00 6,611.00 603.00
2015-06-30 11,060.00 7,535.00 230.00
2015-03-31 10,984.00 7,584.00 186.00
2014-12-31 11,295.00 7,537.00 193.00
2014-09-30 11,756.00 6,683.00 424.00
2014-06-30 12,279.00 7,489.00 165.00
2014-03-31 12,142.00 6,252.00 220.00
2013-12-31 11,961.00 6,670.00 265.00
2013-09-30 12,731.00 5,498.00 1,064.00
2013-06-30 12,566.00 6,024.00 401.00
2013-03-31 12,237.00 6,674.00 486.00
2012-12-31 12,283.00 6,448.00 337.00
2012-09-30 12,026.00 6,068.00 268.00
2012-06-30 11,957.00 6,659.00 610.00
2012-03-31 12,063.00 6,323.00 256.00
2011-12-31 11,560.00 5,991.00 241.00
2011-09-30 11,440.00 5,166.00 257.00
  • Johnson Controls International's level of debt (54.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (47.9% vs 54.2% today).
  • Debt is well covered by operating cash flow (21.5%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 8.9x coverage).
X
Financial health checks
We assess Johnson Controls International's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Johnson Controls International has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Johnson Controls International's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.77%
Current annual income from Johnson Controls International dividends. Estimated to be 2.96% next year.
If you bought $2,000 of Johnson Controls International shares you are expected to receive $55 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Johnson Controls International's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.46%).
  • Johnson Controls International's dividend is below the markets top 25% of dividend payers in United States of America (3.82%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:JCI Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below
United States of America Building Industry Average Dividend Yield Market Cap Weighted Average of 50 Stocks 2%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 5588 Stocks 2.9%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:JCI Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-09-30
2020-09-30 1.21 5.00
2019-09-30 1.11 7.00
2018-09-30 1.04 6.00
NYSE:JCI Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2018-06-13 1.040 2.938
2018-03-07 1.040 2.956
2017-12-06 1.040 2.716
2017-09-13 1.000 2.530
2017-06-14 1.000 2.452
2017-03-08 1.000 2.397
2017-02-08 1.000 2.392
2017-02-01 1.000 2.381
2016-11-23 0.820 1.889
2016-11-08 0.820 1.838
2016-07-20 1.160 2.601
2016-05-17 1.160 2.645
2016-01-25 1.160 3.051
2015-11-18 1.160 2.918
2015-07-22 1.040 2.408
2015-05-20 1.040 2.053
2015-01-28 1.040 2.085
2014-11-19 1.040 2.181
2014-07-23 0.880 1.900
2014-05-21 0.880 1.769
2014-01-29 0.880 1.883
2013-11-20 0.880 1.748
2013-07-24 0.760 1.783
2013-05-22 0.760 2.048
2013-01-23 0.760 2.273
2012-11-14 0.760 2.621
2012-07-25 0.720 2.709
2012-05-23 0.720 2.597
2012-01-25 0.720 2.234
2011-11-16 0.720 2.311
2011-07-27 0.640 2.076
2011-05-25 0.640 1.638
2011-01-26 0.640 1.600
2010-11-17 0.640 1.657
2010-07-28 0.520 1.693
2010-05-18 0.520 1.844
2010-01-27 0.520 1.657
2009-11-18 0.520 1.858
2009-07-22 0.520 2.015
2009-05-20 0.520 2.496
2009-01-21 0.520 3.819
2008-11-19 0.520 3.001
2008-08-18 0.520 2.287

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Johnson Controls International's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.8x coverage).
X
Income/ dividend checks
We assess Johnson Controls International's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Johnson Controls International afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Johnson Controls International has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Johnson Controls International's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
George Oliver, image provided by Google.
George Oliver
COMPENSATION $12,592,500
AGE 58
TENURE AS CEO 0.9 years
CEO Bio

Mr. George R. Oliver has been Chairman and Chief Executive Officer of Johnson Controls International plc., since September 1, 2017. Mr. Oliver served as the President and Chief Operating Officer of Johnson Controls International plc (formerly, Johnson Controls Inc.) since September 2, 2016 until September 1, 2017. Mr. Oliver served as the President and Chief Operating Officer of Tyco International plc until September 2, 2016. Mr. Oliver served as the Chief Executive Officer of Tyco Ireland Ltd. since November 17, 2014. He served as the President of Atkore International Group Inc. from March 2007 to September 2010. He served as the President of Tyco Electrical & Metal Products at Tyco Fire & Security, LLC from 2007 to 2010 and also served as its President of Tyco Safety Products. He served as the Chief Executive Officer of Johnson Controls International plc (Also known as Tyco International plc and Tyco International Ltd.) since September 2012 and also served as its President of Tyco Safety Products from July 10, 2006 to September 2010, President of Tyco Fire Protection from September 2010 to January 2012 and President of the Fire & Security Segment from January 2012 to September 2012. He served in operational roles of increasing responsibility at several General Electric (GE) divisions. He served as the President and Chief Executive Officer of GE Water Technologies Inc. He served as the President and Chief Executive Officer of GE Engine Services with global responsibility for the $5 billion aircraft engine services business. Additionally, he held positions in GE’s Aircraft Engines and Appliances divisions. He has been a Director of Tyco Ireland Ltd. since November 17, 2014. He has been an Independent Director of Raytheon Company since November 21, 2013. He serves as a Director of Johnson Controls International plc. He served as a Director of Atkore International Holdings Inc. He served as a Director of Atkore International Group Inc. Mr. Oliver holds a Bachelor of Science in Mechanical Engineering from Worcester Polytechnic Institute.

CEO Compensation
  • George's compensation has been consistent with company performance over the past year.
  • George's compensation appears reasonable for a company of this size and profit level.
Management Team Tenure

Average tenure and age of the Johnson Controls International management team in years:

1.2
Average Tenure
57
Average Age
  • The average tenure for the Johnson Controls International management team is less than 2 years, this suggests a new team.
Management Team

George Oliver

TITLE
Chairman & CEO
COMPENSATION
$13M
AGE
58
TENURE
0.9 yrs

Brian Stief

TITLE
Executive VP & CFO
COMPENSATION
$25M
AGE
62
TENURE
3.9 yrs

Jeff Williams

TITLE
VP and President of Building Solutions EMEA & LA
COMPENSATION
$4M
AGE
57
TENURE
1.4 yrs

Bill Jackson

TITLE
VP and President of Products
COMPENSATION
$5M
AGE
58
TENURE
1.9 yrs

Joe Walicki

TITLE
VP & President of Power Solutions Business
COMPENSATION
$4M
AGE
53
TENURE
3.6 yrs

Suzanne Vincent

TITLE
VP, Corporate Controller & Principal Accounting Officer
AGE
48

Nancy Berce

TITLE
Chief Information Officer
AGE
52
TENURE
0.3 yrs

Antonella Franzen

TITLE
VP and Chief Investor Relations & Communications Officer
TENURE
0.3 yrs

John Donofrio

TITLE
Executive VP & General Counsel
AGE
56
TENURE
0.8 yrs

Lynn Minella

TITLE
EVP & Chief Human Resources Officer
AGE
60
TENURE
1.2 yrs
Board of Directors Tenure

Average tenure and age of the Johnson Controls International board of directors in years:

1.9
Average Tenure
61.5
Average Age
  • The average tenure for the Johnson Controls International board of directors is less than 3 years, this suggests a new board.
Board of Directors

George Oliver

TITLE
Chairman & CEO
COMPENSATION
$13M
AGE
58
TENURE
0.9 yrs

Natalie Black

TITLE
Independent Director
COMPENSATION
$300K
AGE
68
TENURE
1.9 yrs

Carl Tinggren

TITLE
Lead Independent Director
COMPENSATION
$301K
AGE
60
TENURE
1 yrs

Mike Daniels

TITLE
Independent Director
COMPENSATION
$278K
AGE
63
TENURE
8.4 yrs

David Abney

TITLE
Independent Director
COMPENSATION
$275K
AGE
63
TENURE
1.9 yrs

Mark Vergnano

TITLE
Independent Director
COMPENSATION
$275K
AGE
60
TENURE
1.9 yrs

Juan del Valle Perochena

TITLE
Independent Director
COMPENSATION
$275K
AGE
46
TENURE
1.9 yrs

Brian Duperreault

TITLE
Independent Director
COMPENSATION
$275K
AGE
71
TENURE
14.4 yrs

R. Yost

TITLE
Independent Director
COMPENSATION
$275K
AGE
70
TENURE
9.4 yrs

Webster Dunbar

TITLE
Independent Director
COMPENSATION
$152K
AGE
56
TENURE
1.2 yrs
Recent Insider Trading
  • No 3 month insider trading information.
Who owns this company?
X
Management checks
We assess Johnson Controls International's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap and profit (greater than 0.5% of the company's profit + 0.03% of market cap)? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Johnson Controls International has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

External News
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Simply Wall St News

Why Are Insiders Cautious About Johnson Controls International plc's (NYSE:JCI) Shares?

Johnson Controls International plc operates as a diversified technology and multi industrial company worldwide. … some insider selling over the past three months, with insiders divesting from. … A two-decade research published in The MIT Press (1998) showed that stocks following insider selling declined 2.7% relative to the market

Simply Wall St -

How Do Analysts See Johnson Controls International plc (NYSE:JCI) Performing In The Year Ahead?

After Johnson Controls International plc's (NYSE:JCI) earnings announcement in March 2018,. … analyst consensus outlook appear cautiously optimistic, … the past 5-year average growth rate of -1.53%

Simply Wall St -

Calculating The Intrinsic Value Of Johnson Controls International plc (NYSE:JCI)

by estimating the company's future cash flows and discounting them to their present value. … Discounted Cash Flows (DCF). … If you want to learn more about discounted cash flow, the basis for my calcs can be read in detail in the Simply Wall St analysis model

Simply Wall St -

Should Johnson Controls International plc (NYSE:JCI) Be Part Of Your Dividend Portfolio?

Johnson Controls International plc (NYSE:JCI) has returned to shareholders over the past 10 years, an average dividend yield of 2.00% annually. … Does Johnson Controls International tick all the boxes of a great dividend stock? … View our latest analysis for Johnson Controls International

Simply Wall St -

What You Must Know About Johnson Controls International plc's (NYSE:JCI) Financial Strength

Johnson Controls International plc (NYSE:JCI), a large-cap worth US$31.70b, comes to mind for investors seeking a strong and reliable stock investment. … Let’s take a look at Johnson Controls International’s leverage and assess its financial strength to get an idea of their ability to fund strategic acquisitions and grow through cyclical pressures … Note that this commentary is very high-level and solely focused on financial health, so I suggest you dig deeper yourself

Simply Wall St -

Only 2 Days Left To Johnson Controls International plc (NYSE:JCI)’s Ex-Dividend Date, Should You Buy?

Have you been keeping an eye on Johnson Controls International plc's (NYSE:JCI) upcoming dividend of $0.26 per share payable on the 13 July 2018? … Is this future income stream a compelling catalyst for dividend investors to think about the stock as an investment today? … Let's take a look at Johnson Controls International's most recent financial data to examine its dividend characteristics in more detail.

Simply Wall St -

Johnson Controls International plc (NYSE:JCI): Can Growth Justify Its June Share Price?

Looking at Johnson Controls International plc’s (NYSE:JCI) fundamentals some investors are wondering if its last closing price of $35.09 represents a good value for money for this high growth stock. … View out our latest analysis for Johnson Controls International? … Johnson Controls International is poised for extremely high earnings growth in the near future

Simply Wall St -

Calculating The Intrinsic Value Of Johnson Controls International plc (NYSE:JCI)

5-year cash flow forecast 2018 2019 2020 2021 2022 Levered FCF ($, Millions) $1,647.50 $2,489.00 $2,949.00 $2,636.47 $2,357.07 Source Analyst x6 Analyst x5 Analyst x2 Extrapolated @ (-10.6%) Extrapolated @ (-10.6%) Present Value Discounted @ 10.08% $1,496.68 $2,054.15 $2,210.98 $1,795.71 $1,458.44 Present Value of 5-year Cash Flow (PVCF)= $9,016 We now need to calculate the Terminal Value, which accounts for all the future cash flows after the five years. … Terminal Value (TV) = FCF2022 × (1 + g) ÷ (r – g) = $2,357 × (1 + 2.5%) ÷ (10.1% – 2.5%) = $31,751 Present Value of Terminal Value (PVTV) = TV / (1 + r)5 = $31,751 / ( 1 + 10.1%)5 = $19,646 The total value is the sum of cash flows for the next five years and the discounted terminal value, which results in the Total Equity Value, which in this case is $28,662. … NYSE:JCI Intrinsic Value May 22nd 18 Important assumptions I'd like to point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows.

Simply Wall St -

Does Johnson Controls International plc's (NYSE:JCI) Debt Level Pose A Problem?

See our latest analysis for Johnson Controls International How much cash does JCI generate through its operations? … Additionally, JCI has generated US$12.00M in operating cash flow in the last twelve months, leading to an operating cash to total debt ratio of 0.088%, signalling that JCI’s debt is not appropriately covered by operating cash. … Next Steps: JCI’s cash flow coverage indicates it could improve its operating efficiency in order to meet demand for debt repayments should unforeseen events arise.

Simply Wall St -

Is Johnson Controls International plc (NYSE:JCI) Undervalued?

Johnson Controls International plc (NYSE:JCI) saw significant share price volatility over the past couple of months on the NYSE, rising to the highs of $41.43 and falling to the lows of $35.9. … Since Johnson Controls International’s share price is quite volatile, this could mean it can sink lower (or rise even further) in the future, giving us another chance to invest. … If you are no longer interested in Johnson Controls International, you can use our free platform to see my list of over 50 other stocks with a high growth potential.

Simply Wall St -

Company Info

Map
Description

Johnson Controls International plc operates as a diversified technology and multi industrial company worldwide. The company operates through Building Technologies & Solutions and Power Solutions segments. It designs, sells, controls, installs heating, ventilating, and air conditioning systems. The company also provides residential air conditioning and heating systems, and industrial refrigeration products, as well as technical and energy management consulting services. In addition, it designs, sells, installs, services, and monitors electronic security systems, and fire detection and suppression systems; and manufactures and sells intrusion security products, anti-theft devices, breathing apparatus, and access control and video management systems for commercial, industrial, retail, residential, small business, institutional, and governmental customers. Further, the company produces and supplies lead-acid automotive batteries for passenger cars, light trucks, and utility vehicles, as well as advanced battery technologies to power start-stop, hybrid, and electric vehicles. It offers its lead-acid automotive batteries to automotive original equipment manufacturers and the general vehicle battery aftermarket. The company was formerly known as Johnson Controls, Inc. and changed its name to Johnson Controls International plc in September 2016. Johnson Controls International plc was founded in 1885 and is headquartered in Cork, Ireland.

Details
Name: Johnson Controls International plc
JCI
Exchange: NYSE
Founded: 1885
$34,212,871,475
924,922,181
Website: http://www.johnsoncontrols.com
Address: Johnson Controls International plc
One Albert Quay,
Cork,
Co. Cork, Ireland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE JCI Common Shares New York Stock Exchange US USD 02. Jan 1968
DB TYIA Common Shares Deutsche Boerse AG DE EUR 02. Jan 1968
LSE 0Y7S Common Shares London Stock Exchange GB USD 02. Jan 1968
Number of employees
Current staff
Staff numbers
121,000
Johnson Controls International employees.
Industry
Building Products
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2018/08/15 23:53
End of day share price update: 2018/08/15 00:00
Last estimates confirmation: 2018/08/07
Last earnings update: 2018/06/30
Last annual earnings update: 2017/09/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.