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Jones Lang LaSalle

NYSE:JLL
Snowflake Description

Proven track record with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
JLL
NYSE
$7B
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

Jones Lang LaSalle Incorporated, a professional services company, provides commercial real estate and investment management services worldwide. The last earnings update was 70 days ago. More info.


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JLL Share Price and Events
7 Day Returns
1.7%
NYSE:JLL
0.5%
US Real Estate
0.6%
US Market
1 Year Returns
-18.6%
NYSE:JLL
-14.3%
US Real Estate
4.1%
US Market
JLL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Jones Lang LaSalle (JLL) 1.7% 4.3% -10.8% -18.6% 31.6% 6.4%
US Real Estate 0.5% 6.6% -1.7% -14.3% 25.7% 2.6%
US Market 0.6% 3.8% 2.8% 4.1% 37.3% 42.5%
1 Year Return vs Industry and Market
  • JLL underperformed the Real Estate industry which returned -14.3% over the past year.
  • JLL underperformed the Market in United States of America which returned 4.1% over the past year.
Price Volatility
JLL
Industry
5yr Volatility vs Market

Value

 Is Jones Lang LaSalle 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 Jones Lang LaSalle 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 Jones Lang LaSalle.

NYSE:JLL Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 7 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

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:JLL
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Real Estate Unlevered Beta Simply Wall St/ S&P Global 1.05
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.047 (1 + (1- 21%) (33.81%))
1.219
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.22
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.219 * 5.96%)
9.99%

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

The calculations below outline how an intrinsic value for Jones Lang LaSalle is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:JLL DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 9.99%)
2020 549.67 Analyst x3 499.72
2021 623.90 Analyst x2 515.67
2022 653.50 Analyst x2 491.05
2023 685.35 Analyst x2 468.19
2024 713.80 Est @ 4.15% 443.32
2025 740.39 Est @ 3.73% 418.05
2026 765.76 Est @ 3.43% 393.09
2027 790.40 Est @ 3.22% 368.87
2028 814.68 Est @ 3.07% 345.65
2029 838.87 Est @ 2.97% 323.57
Present value of next 10 years cash flows $4,267.17
NYSE:JLL DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $838.87 × (1 + 2.73%) ÷ (9.99% – 2.73%)
$11,862.07
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $11,862.07 ÷ (1 + 9.99%)10
$4,575.46
NYSE:JLL Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $4,267.17 + $4,575.46
$8,842.63
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $8,842.63 / 51.74
$170.92
NYSE:JLL Discount to Share Price
Calculation Result
Value per share (USD) From above. $170.92
Current discount Discount to share price of $139.41
= -1 x ($139.41 - $170.92) / $170.92
18.4%

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

Current Discount
Amount off the current price Jones Lang LaSalle is available for.
Intrinsic value
18%
Share price is $139.41 vs Future cash flow value of $170.92
Current Discount Checks
For Jones Lang LaSalle to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Jones Lang LaSalle's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Jones Lang LaSalle'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 Jones Lang LaSalle's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Jones Lang LaSalle's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:JLL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $10.21
NYSE:JLL Share Price ** NYSE (2019-07-17) in USD $139.41
United States of America Real Estate Industry PE Ratio Median Figure of 27 Publicly-Listed Real Estate Companies 16.67x
United States of America Market PE Ratio Median Figure of 3,082 Publicly-Listed Companies 17.98x

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

** Primary Listing of Jones Lang LaSalle.

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

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

= 139.41 ÷ 10.21

13.66x

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

  • Jones Lang LaSalle is good value based on earnings compared to the US Real Estate industry average.
  • Jones Lang LaSalle is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Jones Lang LaSalle's expected growth come at a high price?
Raw Data
NYSE:JLL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.66x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
12.5%per year
United States of America Real Estate Industry PEG Ratio Median Figure of 12 Publicly-Listed Real Estate Companies 0.87x
United States of America Market PEG Ratio Median Figure of 2,122 Publicly-Listed Companies 1.59x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 13.66x ÷ 12.5%

1.09x

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

  • Jones Lang LaSalle is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Jones Lang LaSalle's assets?
Raw Data
NYSE:JLL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $81.82
NYSE:JLL Share Price * NYSE (2019-07-17) in USD $139.41
United States of America Real Estate Industry PB Ratio Median Figure of 51 Publicly-Listed Real Estate Companies 1.53x
United States of America Market PB Ratio Median Figure of 5,241 Publicly-Listed Companies 1.81x
NYSE:JLL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 139.41 ÷ 81.82

1.7x

* Primary Listing of Jones Lang LaSalle.

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

  • Jones Lang LaSalle is overvalued based on assets compared to the US Real Estate industry average.
X
Value checks
We assess Jones Lang LaSalle'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 Real Estate 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 Real Estate industry average (and greater than 0)? (1 check)
  5. Jones Lang LaSalle has a total score of 2/6, 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 Jones Lang LaSalle expected to perform in the next 1 to 3 years based on estimates from 7 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
12.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Jones Lang LaSalle expected to grow at an attractive rate?
  • Jones Lang LaSalle's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Jones Lang LaSalle's earnings growth is positive but not above the United States of America market average.
  • Jones Lang LaSalle's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:JLL Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:JLL Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts 12.5%
NYSE:JLL Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 4.7%
United States of America Real Estate Industry Earnings Growth Rate Market Cap Weighted Average 10.9%
United States of America Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 6.5%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.1%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*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:JLL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:JLL Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 858
2022-12-31 799
2021-12-31 10,503 665 2
2020-12-31 10,074 724 599 4
2019-12-31 9,619 557 522 4
NYSE:JLL Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 9,160 311 465
2018-12-31 9,090 604 484
2018-09-30 8,729 511 337
2018-06-30 8,496 560 300
2018-03-31 8,242 752 309
2017-12-31 7,967 799 276
2017-09-30 7,630 644 365
2017-06-30 7,354 459 315
2017-03-31 7,083 340 299
2016-12-31 6,911 223 329
2016-09-30 6,533 242 348
2016-06-30 6,329 308 411

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Jones Lang LaSalle's earnings are expected to grow by 12.5% yearly, however this is not considered high growth (20% yearly).
  • Jones Lang LaSalle's revenue is expected to grow by 4.7% 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:JLL Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below

All data from Jones Lang LaSalle Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:JLL Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 15.92 15.92 15.92 1.00
2022-12-31 14.87 14.87 14.87 1.00
2021-12-31 13.35 14.46 12.03 4.00
2020-12-31 12.33 13.14 11.64 8.00
2019-12-31 11.06 11.71 9.63 7.00
NYSE:JLL Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 10.21
2018-12-31 10.64
2018-09-30 7.41
2018-06-30 6.61
2018-03-31 6.81
2017-12-31 6.09
2017-09-30 8.06
2017-06-30 6.96
2017-03-31 6.62
2016-12-31 7.29
2016-09-30 7.72
2016-06-30 9.12

*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.
  • Jones Lang LaSalle is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Jones Lang LaSalle'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.
Jones Lang LaSalle 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 Jones Lang LaSalle 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 Jones Lang LaSalle's growth in the last year to its industry (Real Estate).
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.
  • Jones Lang LaSalle's year on year earnings growth rate has been positive over the past 5 years.
  • Jones Lang LaSalle's 1-year earnings growth exceeds its 5-year average (50.5% vs 0.9%)
  • Jones Lang LaSalle's earnings growth has exceeded the US Real Estate industry average in the past year (50.5% vs -15.8%).
Earnings and Revenue History
Jones Lang LaSalle'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 Jones Lang LaSalle Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:JLL Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 9,160.00 465.10 5,273.40
2018-12-31 9,089.50 484.10 5,206.80
2018-09-30 8,729.00 337.00 4,998.20
2018-06-30 8,496.00 300.40 4,865.90
2018-03-31 8,242.20 309.10 4,740.30
2017-12-31 7,967.40 276.00 4,620.70
2017-09-30 7,629.70 365.10 4,431.40
2017-06-30 7,354.20 314.80 4,288.70
2017-03-31 7,083.30 299.30 4,150.30
2016-12-31 6,910.60 329.30 4,034.20
2016-09-30 6,533.10 348.40 3,855.90
2016-06-30 6,329.10 410.90 3,739.90
2016-03-31 6,099.00 422.20 3,637.10
2015-12-31 5,965.70 438.40 3,564.60
2015-09-30 5,827.18 436.30 3,490.97
2015-06-30 5,691.96 430.08 3,423.21
2015-03-31 5,595.66 411.75 3,359.23
2014-12-31 5,429.60 385.70 3,258.70
2014-09-30 5,190.04 339.11 3,146.51
2014-06-30 4,930.87 297.68 3,017.30
2014-03-31 4,643.05 272.20 2,890.68
2013-12-31 4,461.59 269.46 2,817.06
2013-09-30 4,200.88 229.13 2,691.51
2013-06-30 4,043.57 215.79 2,614.84
2013-03-31 3,975.52 206.69 2,573.17
2012-12-31 3,932.83 207.56 2,546.97
2012-09-30 3,832.30 185.49 2,475.27

*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.
  • Jones Lang LaSalle has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Jones Lang LaSalle used its assets more efficiently than the US Real Estate industry average last year based on Return on Assets.
  • Jones Lang LaSalle's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Jones Lang LaSalle'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 Real Estate 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.
Jones Lang LaSalle has a total score of 4/6, 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 Jones Lang LaSalle'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 Jones Lang LaSalle's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Jones Lang LaSalle is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Jones Lang LaSalle's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Jones Lang LaSalle'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 2.8x 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 Jones Lang LaSalle Company Filings, last reported 3 months ago.

NYSE:JLL Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 3,803.50 1,770.60 389.50
2018-12-31 3,734.50 1,006.20 480.90
2018-09-30 3,572.80 1,596.10 327.00
2018-06-30 3,466.20 1,614.80 292.80
2018-03-31 3,475.70 1,514.30 292.80
2017-12-31 3,382.00 1,061.90 268.00
2017-09-30 3,175.30 1,513.90 277.90
2017-06-30 3,037.70 2,187.60 250.30
2017-03-31 2,901.90 1,729.10 223.10
2016-12-31 2,821.50 1,847.70 258.50
2016-09-30 2,854.90 1,734.90 228.40
2016-06-30 2,816.60 1,344.80 213.70
2016-03-31 2,801.80 1,371.80 240.40
2015-12-31 2,729.40 824.20 216.60
2015-09-30 2,534.70 571.18 193.50
2015-06-30 2,494.86 653.60 191.03
2015-03-31 2,356.88 803.25 198.49
2014-12-31 2,422.57 372.91 250.41
2014-09-30 2,356.86 737.10 162.57
2014-06-30 2,351.33 804.32 150.71
2014-03-31 2,234.77 738.40 140.15
2013-12-31 2,211.48 452.80 152.73
2013-09-30 2,053.16 801.20 119.70
2013-06-30 1,953.14 878.81 121.85
2013-03-31 1,950.22 911.85 133.47
2012-12-31 1,978.75 614.06 152.16
2012-09-30 1,877.44 650.94 125.73
  • Jones Lang LaSalle's level of debt (46.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (33.2% vs 46.6% today).
  • Debt is not well covered by operating cash flow (17.6%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 15.7x coverage).
X
Financial health checks
We assess Jones Lang LaSalle'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. Jones Lang LaSalle 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 Jones Lang LaSalle'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
0.62%
Current annual income from Jones Lang LaSalle dividends. Estimated to be 0.65% next year.
If you bought $2,000 of Jones Lang LaSalle shares you are expected to receive $12 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?
  • Jones Lang LaSalle's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.43%).
  • Jones Lang LaSalle's dividend is below the markets top 25% of dividend payers in United States of America (3.72%).
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:JLL 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 7 Analyst Estimates (S&P Global) See Below
United States of America Real Estate Industry Average Dividend Yield Market Cap Weighted Average of 16 Stocks 2.6%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2017 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

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

NYSE:JLL Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.80 3.00
2020-12-31 1.01 4.00
2019-12-31 0.89 4.00
NYSE:JLL Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-08 0.860 0.637
2019-05-07 0.860 0.606
2019-02-26 0.820 0.525
2019-02-12 0.820 0.496
2018-11-07 0.820 0.600
2018-11-06 0.820 0.571
2018-08-08 0.820 0.576
2018-05-08 0.820 0.487
2018-02-23 0.740 0.433
2018-02-07 0.740 0.474
2017-11-06 0.740 0.490
2017-08-03 0.700 0.561
2017-08-02 0.700 0.553
2017-05-05 0.700 0.579
2017-02-23 0.660 0.595
2017-02-06 0.660 0.595
2016-11-03 0.660 0.654
2016-11-02 0.660 0.739
2016-08-03 0.620 0.561
2016-08-02 0.620 0.545
2016-05-05 0.620 0.568
2016-04-27 0.620 0.530
2016-02-25 0.580 0.503
2016-02-03 0.580 0.551
2015-11-05 0.580 0.379
2015-10-28 0.580 0.350
2015-04-27 0.540 0.332
2014-10-29 0.500 0.326
2014-08-07 0.460 0.356
2014-07-31 0.460 0.360
2014-05-08 0.460 0.371
2014-05-01 0.460 0.392
2014-02-27 0.440 0.367
2013-11-06 0.440 0.421
2013-10-31 0.440 0.466
2013-05-15 0.440 0.494
2013-05-08 0.440 0.450
2013-05-01 0.440 0.445
2012-10-31 0.400 0.448
2012-05-01 0.400 0.551
2011-11-02 0.300 0.419
2011-04-26 0.300 0.406
2010-10-26 0.200 0.220
2010-04-27 0.200 0.263
2009-10-27 0.200 0.328
2009-04-28 0.200 0.511
2008-10-28 0.500 2.030

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

  • Jones Lang LaSalle is not paying a notable dividend for United States of America, therefore no need to check if the payments are stable.
  • Jones Lang LaSalle is not paying a notable dividend for United States of America, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of Jones Lang LaSalle's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of Jones Lang LaSalle's dividends as it is not paying a notable one for United States of America.
Future Payout to shareholders
  • No need to calculate the sustainability of Jones Lang LaSalle's dividends in 3 years as they are not expected to pay a notable one for United States of America.
X
Income/ dividend checks
We assess Jones Lang LaSalle'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 Jones Lang LaSalle afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Jones Lang LaSalle has a total score of 0/6, 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 Jones Lang LaSalle'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
Christian Ulbrich
COMPENSATION $9,548,082
AGE 53
TENURE AS CEO 2.8 years
CEO Bio

Mr. Christian Ulbrich has been the Chair of Global Executive Board and Chief Executive Officer at Jones Lang LaSalle Incorporated since October 1, 2016 and as its President since June 01, 2016. Mr. Ulbrich served as the Chief Executive Officer of Europe, Middle East & Africa at Jones Lang LaSalle South Africa (Pty) Limited and Jones Lang LaSalle Limited since January 2009 until June 1, 2016. Mr. Ulbrich serves as the Chief Executive Officer of EMEA at Jones Lang Lasalle (Portugal) - Sociedade de Mediação Imobiliária, S.A. and Jones Lang LaSalle AB. (Ireland). From April 2005 through December 2008, he was the Managing Director of JLL’s German business. Mr. Ulbrich served as the Chief Executive Officer of Germany of Jones Lang LaSalle GmbH and Jones Lang LaSalle AB. He has an outstanding level of expert knowledge and a broad network within the German and global real estate industry and its capital markets. Prior to that, Mr. Ulbrich was the Chief Executive Officer of the HIH group of companies headquartered in Hamburg, Germany and part of M.M. Warburg Bank. He has been a Member of Supervisory Board of Vonovia SE (Deutsche Annington Immobilien SE) since August 21, 2014. He has been a Director of Jones Lang LaSalle Incorporated since June 01, 2016. He serves as a member of the Executive Board of Jones Lang LaSalle Inc. He serves as a Member of Adviory Committee for IVG Immobilien AG. Mr. Ulbrich holds a Bachelor's Degree in Business Administration from Universität Hamburg. He studied economics at the University of Hamburg.

CEO Compensation
  • Christian's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Christian's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Jones Lang LaSalle management team in years:

2.8
Average Tenure
53
Average Age
  • The tenure for the Jones Lang LaSalle management team is about average.
Management Team

Christian Ulbrich

TITLE
Chairman of Global Executive Board
COMPENSATION
$10M
AGE
53
TENURE
2.8 yrs

Jeff Jacobson

TITLE
CEO of LaSalle Investment Management & Member of Global Executive Board
COMPENSATION
$6M
AGE
57

Trish Maxson

TITLE
Chief Administrative Officer & Member of Global Executive Board
COMPENSATION
$2M
AGE
60

Greg O'Brien

TITLE
CEO of Americas Business Segment & Member of Global Executive Board
COMPENSATION
$6M
AGE
57
TENURE
5.5 yrs

Richard Bloxam

TITLE
Global CEO of Capital Markets & Member of Global Executive Board
COMPENSATION
$4M
AGE
47

Stephanie Plaines

TITLE
Global CFO & Member of Global Executive Board
AGE
52
TENURE
0.3 yrs

Guy Grainger

TITLE
CEO of EMEA Business Segment & Member of Global Executive Board
AGE
51

Anthony Couse

TITLE
CEO of Asia Pacific & Member of Global Executive Board
COMPENSATION
$4M
AGE
53

Neil Murray

TITLE
Global CEO of Corporate Solutions & Member of Global Executive Board
AGE
43
TENURE
0.1 yrs

Greg O’Brien

TITLE
Chief Executive Officer of Americas & Member of Global Executive Board
TENURE
5.5 yrs
Board of Directors Tenure

Average tenure and age of the Jones Lang LaSalle board of directors in years:

6.3
Average Tenure
61
Average Age
  • The tenure for the Jones Lang LaSalle board of directors is about average.
Board of Directors

Sheila Penrose

TITLE
Chairman & Lead Independent Director
COMPENSATION
$412K
AGE
73
TENURE
14.5 yrs

Christian Ulbrich

TITLE
Chairman of Global Executive Board
COMPENSATION
$10M
AGE
53
TENURE
3.2 yrs

Peter Riguardi

TITLE
Chairman & President of New York Tri-state Region

Arthur De Haast

TITLE
Chairman of Capital Markets Board
AGE
61

Hugo Bagué

TITLE
Independent Director
COMPENSATION
$255K
AGE
58
TENURE
8.3 yrs

Ann Petach

TITLE
Director
COMPENSATION
$251K
AGE
58
TENURE
4.2 yrs

Ming Lu

TITLE
Director
COMPENSATION
$238K
AGE
61
TENURE
10.2 yrs

Marty Nesbitt

TITLE
Director
COMPENSATION
$236K
AGE
57
TENURE
8.3 yrs

Sam Di Piazza

TITLE
Director
COMPENSATION
$238K
AGE
68
TENURE
4.2 yrs

Bridget Macaskill

TITLE
Director
COMPENSATION
$236K
AGE
71
TENURE
3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Jones Lang LaSalle's management by checking for:
  1. Is the CEO's compensation unreasonable compared to 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. Jones Lang LaSalle 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

Simply Wall St News

Is There An Opportunity With Jones Lang LaSalle Incorporated's (NYSE:JLL) 34% Undervaluation?

Today, we will estimate the stock's intrinsic value by projecting its future cash flows and then discounting them to today's value. … We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. … A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, so we discount the value of these future cash flows to their estimated value in today's dollars: 10-year free cash flow (FCF) forecast 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 Levered FCF ($, Millions) $617.9m $740.0m $784.0m $832.0m $873.4m $911.0m $946.0m $979.1m $1.0b $1.0b Growth Rate Estimate Source Analyst x3 Analyst x1 Analyst x1 Analyst x1 Est @ 4.98% Est @ 4.31% Est @ 3.83% Est @ 3.5% Est @ 3.27% Est @ 3.11% Present Value ($, Millions) Discounted @ 10.01% $561.7 $611.4 $588.8 $568.0 $542.0 $513.9 $485.1 $456.3 $428.4 $401.5 ("Est" = FCF growth rate estimated by Simply Wall St) Present Value of 10-year Cash Flow (PVCF)= $5.2b We now need to calculate the Terminal Value, which accounts for all the future cash flows after this ten year period.

Simply Wall St -

How Did Jones Lang LaSalle Incorporated's (NYSE:JLL) 12% ROE Fare Against The Industry?

The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Jones Lang LaSalle: 12% = US$465m ÷ US$3.8b (Based on the trailing twelve months to March 2019.) Most know that net profit is the total earnings after all expenses, but the concept of shareholders' equity is a little more complicated. … Does Jones Lang LaSalle Have A Good ROE? … Combining Jones Lang LaSalle's Debt And Its 12% Return On Equity Although Jones Lang LaSalle does use debt, its debt to equity ratio of 0.47 is still low.

Simply Wall St -

Does Jones Lang LaSalle Incorporated (NYSE:JLL) Have A Good P/E Ratio?

Check out our latest analysis for Jones Lang LaSalle How Do I Calculate A Price To Earnings Ratio? … The formula for price to earnings is: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for Jones Lang LaSalle: P/E of 12.45 = $127.02 ÷ $10.21 (Based on the trailing twelve months to March 2019.) Is A High P/E Ratio Good? … The Verdict On Jones Lang LaSalle's P/E Ratio Jones Lang LaSalle has a P/E of 12.4.

Simply Wall St -

Do Jones Lang LaSalle's (NYSE:JLL) Earnings Warrant Your Attention?

If, on the other hand, you like companies that have revenue, and even earn profits, then you may well be interested in Jones Lang LaSalle (NYSE:JLL). … Check out our latest analysis for Jones Lang LaSalle Jones Lang LaSalle's Improving Profits Even with very modest growth rates, a company will usually do well if it improves earnings per share (EPS) year after year. … Although Jones Lang LaSalle certainly looks good to me, I would like it more if insiders were buying up shares.

Simply Wall St -

Has Jones Lang LaSalle Incorporated (NYSE:JLL) Got Enough Cash?

Small and large cap stocks are widely popular for a variety of reasons, however, mid-cap companies such as Jones Lang LaSalle Incorporated (NYSE:JLL), with a market cap of US$7.0b, often get neglected by retail investors. … This article will examine JLL’s financial liquidity and debt levels to get an idea of whether the company can deal with cyclical downturns and maintain funds to accommodate strategic spending for future growth. … View our latest analysis for Jones Lang LaSalle

Simply Wall St -

Jones Lang LaSalle Incorporated (NYSE:JLL): Is It A Smart Long Term Opportunity?

In December 2018, Jones Lang LaSalle Incorporated (NYSE:JLL) released its earnings update. … with earnings expected to grow by 6.2% in the upcoming year … the past 5-year average growth rate of 0.5%

Simply Wall St -

Why Fundamental Investors Might Love Jones Lang LaSalle Incorporated (NYSE:JLL)

Jones Lang LaSalle Incorporated (NYSE:JLL) is a stock with outstanding fundamental characteristics. … When we build an investment case, we need to look at the stock with a holistic perspective. … For those interested in understanding where the figures come from and want to see the analysis,

Simply Wall St -

Read This Before Buying Jones Lang LaSalle Incorporated (NYSE:JLL) Shares

So we'll take a look at whether insiders have been buying or selling shares in Jones Lang LaSalle Incorporated (NYSE:JLL). … That means that an insider was selling shares at around the current price of US$154. … In total, Jones Lang LaSalle insiders sold more than they bought over the last year.

Simply Wall St -

Jones Lang LaSalle Incorporated (NYSE:JLL): Is It A Good Long Term Opportunity?

The most recent earnings announcement Jones Lang LaSalle Incorporated's (NYSE:JLL) released in December 2018a

Simply Wall St -

Can You Imagine How Jones Lang LaSalle's (NYSE:JLL) Shareholders Feel About The 37% Share Price Increase?

To wit, Jones Lang LaSalle Incorporated (NYSE:JLL) shares are up 37% in three years, besting the market return. … During three years of share price growth, Jones Lang LaSalle achieved compound earnings per share growth of 2.9% per year. … We know that Jones Lang LaSalle has improved its bottom line lately, but is it going to grow revenue

Simply Wall St -

Company Info

Description

Jones Lang LaSalle Incorporated, a professional services company, provides commercial real estate and investment management services worldwide. It offers a range of real estate services, including agency leasing, logistics and supply-chain management, corporate finance, mortgage origination and servicing, debt placement, project and development management/design, digital, property management, energy and sustainability, real estate investment banking, integrated facilities management, research, investment management and advisory, strategic consulting and advisory, investment sale, tenant representation, lease administration, and valuations. The company also provides investment management services to institutional and retail investors, including high-net-worth individuals. Jones Lang LaSalle Incorporated offers its services to real estate owners, occupiers, investors, and developers for various property types, including cultural, educational, government, healthcare, laboratory, hotel, hospitality, and sports facilities; industrial and warehouse, office, and residential properties; retail and shopping malls; critical environment, data, transportation, and sort and fulfillment centers; infrastructure projects; and military housings. The company was formerly known as LaSalle Partners Incorporated and changed its name to Jones Lang LaSalle Incorporated in March 1999. Jones Lang LaSalle Incorporated was founded in 1997 and is headquartered in Chicago, Illinois.

Details
Name: Jones Lang LaSalle Incorporated
JLL
Exchange: NYSE
Founded: 1997
$7,212,532,768
51,736,122
Website: http://www.us.jll.com
Address: Jones Lang LaSalle Incorporated
200 East Randolph Drive,
Chicago,
Illinois, 60601,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE JLL Common Stock New York Stock Exchange US USD 17. Jul 1997
DB 4J2 Common Stock Deutsche Boerse AG DE EUR 17. Jul 1997
LSE 0JPB Common Stock London Stock Exchange GB USD 17. Jul 1997
Number of employees
Current staff
Staff numbers
90,000
Jones Lang LaSalle employees.
Industry
Real Estate Services
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/17 23:40
End of day share price update: 2019/07/17 00:00
Last estimates confirmation: 2019/07/17
Last earnings filing: 2019/05/08
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


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.