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Jones Lang Lasalle

JLL on NYSE. Jones Lang Lasalle sells commercial real estate services and investment management to businesses and governments. Market value $13.9bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Some use the latest annual report instead, as marked. Quality checks use five annual reports, the latest for the year to December 2025.

Cash flow or capital spending isn't reported, so free cash flow is unknown.

Should I look at this?

Not a fit for our list right now

Why it could be worth it

What to watch out for

See Real estate stocks that passed both tests

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
annual report to December 2025
n/a

We could not compute this from the filings.

Price to profit
past 12 months to June 2026
11.9×fair

You pay 11.9 years of operating profit for the business. The average large US company costs around 18.

Return on capital
five annual reports to December 2025
9.5%five-year median

Each dollar kept in the business earns 9 cents a year. Above 10 is good.

Quality score: 68 of 100. Price score: 83 of 100. Our list needs 70 on quality and 60 on price.

$303.62 a share, 17% above its 1-year low

Over the past year the price has ranged from $259.83 to $393.84.

Pays no dividend

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

n/a
n/a
n/a
n/a
n/a
20212022202320242025
Revenue
$19.4bn$20.9bn$20.8bn$23.4bn$26.1bn
Operating margin
5.4%4.2%2.8%3.7%4.2%
Debt to equity
0.150.290.240.180.12
Shares outstanding
0.05bn0.05bn0.05bn0.05bn0.05bn

Health checks

  • Free cash flow positiveNot enough data
  • Accounting looks honest (Beneish)Not enough data
  • Financial strength (Piotroski)8 of 8 checks we could run
  • Profit backed by cash (accruals)Yes
  • Debt0.12× equity
  • Revenue growth, five yearsSlow, 9.5% a year
  • Buying back its own sharesYes, 3% fewer since 2021

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $6.9 billion last quarter, up 11% on a year ago.
  • Profit: $216 million, up 92% on a year ago.
  • It keeps 5 cents of each $1 of sales as operating profit, up from 4 cents a year earlier.
  • 3% fewer shares than a year ago. Each share owns a bit more of the company.
  • Debt is $1.2 billion more than cash, down from $1.6 billion a year ago.
  • Sales grew on a year ago in each of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$5.9bn
December 2024$6.8bn
March 2025$5.7bn
June 2025$6.3bn
September 2025$6.5bn
December 2025$7.6bn
March 2026$6.4bn
June 2026$6.9bn
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024$155m
December 2024$241m
March 2025$55m
June 2025$112m
September 2025$223m
December 2025$402m
March 2026$159m
June 2026$216m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
19 February 2026
Next quarterly (estimated, 10-Q)
29 October 2026

Who owns it

11 long-term investors we follow own it, down from 12 last quarter. 662 funds in all.

Jun '25
Dec '25
Jun '26

Sold out this quarter

Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

4 investors own more than 5%.

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

No insider bought shares on the open market in the last 12 months. 4 sold $16m, $16m of it under preset trading plans.

  • Ulbrich Christian
    CEO & President, Director
    Sold
    under a preset trading plan
    Date
    21 August 2026
    Shares
    2,000
    Price
    $386.99
    Value
    $773,980
  • Ulbrich Christian
    CEO & President, Director
    Sold
    under a preset trading plan
    Date
    20 August 2026
    Shares
    2,000
    Price
    $385.53
    Value
    $771,060
  • Ulbrich Christian
    CEO & President, Director
    Sold
    under a preset trading plan
    Date
    19 August 2026
    Shares
    2,000
    Price
    $375.16
    Value
    $750,320
  • Ulbrich Christian
    CEO & President, Director
    Sold
    under a preset trading plan
    Date
    18 August 2026
    Shares
    2,000
    Price
    $375.00
    Value
    $750,000
  • Ulbrich Christian
    CEO & President, Director
    Sold
    under a preset trading plan
    Date
    14 August 2026
    Shares
    2,000
    Price
    $375.00
    Value
    $750,000
  • Quinlan Larry
    Director
    Sold
    under a preset trading plan
    Date
    12 June 2026
    Shares
    402
    Price
    $301.73
    Value
    $121,295
  • Quinlan Larry
    Director
    Sold
    under a preset trading plan
    Date
    5 June 2026
    Shares
    403
    Price
    $295.14
    Value
    $118,941
  • Bloxam Richard
    CEO, Capital Markets Services
    Sold
    under a preset trading plan
    Date
    24 March 2026
    Shares
    5,440
    Price
    $296.94
    Value
    $2m
  • MCANENY DEBORAH H
    Director
    Sold
    under a preset trading plan
    Date
    10 March 2026
    Shares
    2,500
    Price
    $300.50
    Value
    $751,250
  • Ulbrich Christian
    CEO & President, Director
    Sold
    under a preset trading plan
    Date
    11 December 2025
    Shares
    96
    Price
    $332.18
    Value
    $31,889

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the warning signs we check for were found.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 19 Feb 2026, plus the 10-Q filed 30 Jul 2026 and 7 later 8-Ks.

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

Cheap for a reason is the question the numbers cannot answer.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.