Johnson Controls International PLC
JCI—
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Johnson Controls International PLC AI Insights
Informational only. Not investment advice.Snapshot
- Goodwill of 16.6B is 129% of equity (12.9B) - tangible book value is NEGATIVE (-7.3B), creating material impairment risk.[Goodwill]
- Net income TTM of 3.3B exceeds pretax income of 2.0B by 67% - driven by 341M deferred tax benefit, unsustainable earnings quality.[Net Income]
- 3Y revenue growth of 46% vs industry median 5% - but FCF conversion weak at 29% of net income (965M vs 3.3B).[Total Revenue 3Y Growth]
Watch Triggers
- Goodwill: Any impairment charge or write-down — At 129% of equity, even 10% impairment wipes 1.7B from book value
- Free Cash Flow: FCF/Net Income ratio rises above 50% — Current 29% conversion is unsustainably low; improvement validates earnings quality
- Accounts Receivable: AR days decline below 90 — AR at 6.3B (97 days) is cash trapped; collection improvement unlocks FCF
Bull Case
Operating margin TTM of 12% vs industry median 9% with gross margin of 36% vs 24% median - structural cost advantage in building tech/services.
Operating MarginGross Margin
Aggressive buybacks of 5.0B TTM (7% of market cap) at 0.76 debt/equity signals management confidence in undervaluation.
Common Stock PaymentsDebt to Equity
Bear Case
Goodwill at 129% of equity with negative tangible book (-7.3B) - any impairment directly destroys equity; acquisition-heavy model carries hidden risk.
GoodwillTangible Book Value
P/E of 33x vs industry 28x while ROE of 23% trails median 27% - premium valuation not justified by returns on capital.
PE RatioROE
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
40%
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Forward Thesis
FCF will normalize closer to net income as working capital stabilizes post-growth phase
1-3ymed
- AR of 6.3B (27% of revenue) should moderate
- Negative working capital (-779M) provides float
- Capex at 1.8% of revenue is maintenance-level
FCF TTM 965M vs CFO 1.4B shows WC dragCapex -434M TTM is low vs 23.6B revenueAP of 3.6B partially offsets AR
Valuation Context
Caveats
Public Strategies Rankings
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JCI Fundamentals
Construction → Specialty Trade Contractors
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$80.4B | — | ||
$89.56B | — | ||
25 | — | ||
$23.97B | +3.4% | — | |
$5.25 | +40.5% | — | |
13.2% | +2.4% | — | |
14.2% | +6.6% | — | |
$1.3B | -37.1% | — | |
23.3% | +12.6% | — | |
Beta 5Y (Monthly) | unknown | — |
JCI Dividend History
104 dividends
2026
$0.400003/16/26$0.4000
2025
$1.540012/22/25$0.4000
09/22/25$0.4000
06/23/25$0.3700
03/24/25$0.3700
2024
$1.480012/23/24$0.3700
09/25/24$0.3700
06/24/24$0.3700
03/22/24$0.3700
2023
$1.470012/15/23$0.3700
09/22/23$0.3700
06/16/23$0.3700
03/17/23$0.3600
2022
$1.400012/16/22$0.3500
09/23/22$0.3500
06/17/22$0.3500
03/18/22$0.3500
2021
$1.150012/17/21$0.3400
09/24/21$0.2700
06/18/21$0.2700
03/19/21$0.2700
2020
$1.040012/18/20$0.2600
09/25/20$0.2600
06/19/20$0.2600
03/13/20$0.2600
2019
$1.040012/13/19$0.2600
09/13/19$0.2600
06/21/19$0.2600
03/15/19$0.2600
2018
$1.040012/14/18$0.2600
09/21/18$0.2600
06/22/18$0.2600
03/16/18$0.2600
2017
$1.010012/15/17$0.2600
09/22/17$0.2500
06/26/17$0.2500
03/20/17$0.2500
2016
$0.894012/12/16$0.2500
07/20/16$0.2147
04/20/16$0.2147
01/20/16$0.2147
2015
$0.832510/21/15$0.2147
07/22/15$0.2147
04/22/15$0.2147
01/21/15$0.1885
2014
$0.733010/22/14$0.1885
07/23/14$0.1885
04/23/14$0.1885
01/22/14$0.1675
2013
$0.659710/23/13$0.1675
07/24/13$0.1675
04/24/13$0.1675
01/23/13$0.1571
2012
$0.942410/12/12$0.1571
07/25/12$0.2618
04/25/12$0.2618
01/25/12$0.2618
2011
$1.005210/26/11$0.2618
07/27/11$0.2618
04/27/11$0.2618
01/26/11$0.2199
2010
$0.874210/27/10$0.2199
07/28/10$0.2199
05/17/10$0.2000
01/27/10$0.2345
2009
$0.650110/28/09$0.2094
07/29/09$0.2247
04/28/09$0.2159
2008
$0.733012/31/08$0.2094
09/29/08$0.2094
06/27/08$0.1571
03/28/08$0.1571
2007
$1.151812/31/07$0.1571
09/27/07$0.1571
05/16/07$0.4188
03/29/07$0.4188
2006
$1.675412/28/06$0.4188
10/04/06$0.4188
06/29/06$0.4188
03/30/06$0.4188
2005
$1.675412/29/05$0.4188
09/28/05$0.4188
06/29/05$0.4188
03/30/05$0.4188
2004
$0.575912/30/04$0.4188
09/29/04$0.0524
06/29/04$0.0524
03/30/04$0.0524
2003
$0.209412/30/03$0.0524
09/29/03$0.0524
06/27/03$0.0524
03/28/03$0.0524
2002
$0.209412/30/02$0.0524
09/27/02$0.0524
06/27/02$0.0524
03/27/02$0.0524
2001
$0.209412/28/01$0.0524
09/27/01$0.0524
06/28/01$0.0524
03/29/01$0.0524
2000
$0.209412/28/00$0.0524
09/29/00$0.0524
06/28/00$0.0524
03/30/00$0.0524
JCI Stock Splits
2 stock splits
09/06/161:0.955 split
07/02/074:1 split
JCI SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
02/04/26 | 12/31/25 | 10-Q | |
11/14/25 | 09/30/25 | Unknown | |
08/06/25 | 06/30/25 | 10-Q | |
05/07/25 | 03/31/25 | 10-Q | |
02/05/25 | 12/31/24 | 10-Q | |
11/19/24 | 09/30/24 | 10-K | |
07/31/24 | 06/30/24 | 10-Q | |
05/01/24 | 03/31/24 | 10-Q | |
01/30/24 | 12/31/23 | 10-Q | |
12/14/23 | 09/30/23 | 10-K | |
08/02/23 | 06/30/23 | 10-Q | |
05/05/23 | 03/31/23 | 10-Q | |
02/01/23 | 12/31/22 | 10-Q | |
11/15/22 | 09/30/22 | 10-K | |
08/04/22 | 06/30/22 | 10-Q | |
05/04/22 | 03/31/22 | 10-Q | |
02/02/22 | 12/31/21 | 10-Q | |
11/15/21 | 09/30/21 | 10-K | |
07/30/21 | 06/30/21 | 10-Q | |
04/30/21 | 03/31/21 | 10-Q | |
01/29/21 | 12/31/20 | 10-Q | |
11/16/20 | 09/30/20 | 10-K | |
07/31/20 | 06/30/20 | 10-Q | |
05/01/20 | 03/31/20 | 10-Q | |
01/31/20 | 12/31/19 | 10-Q | |
11/21/19 | 09/30/19 | 10-K | |
08/01/19 | 06/30/19 | 10-Q | |
05/03/19 | 03/31/19 | 10-Q | |
02/01/19 | 12/31/18 | 10-Q | |
11/20/18 | 09/30/18 | 10-K | |
08/02/18 | 06/30/18 | 10-Q | |
05/03/18 | 03/31/18 | 10-Q | |
02/02/18 | 12/31/17 | 10-Q | |
11/21/17 | 09/30/17 | 10-K | |
08/03/17 | 06/30/17 | 10-Q | |
05/04/17 | 03/31/17 | 10-Q | |
02/08/17 | 12/31/16 | 10-Q | |
11/23/16 | 09/30/16 | 10-K | |
07/29/16 | 06/30/16 | 10-Q | |
04/29/16 | 03/31/16 | 10-Q | |
02/01/16 | 12/31/15 | 10-Q | |
11/18/15 | 09/30/15 | 10-K | |
07/31/15 | 06/30/15 | 10-Q | |
04/30/15 | 03/31/15 | 10-Q | |
01/30/15 | 12/31/14 | 10-Q | |
11/19/14 | 09/30/14 | 10-K | |
08/01/14 | 06/30/14 | 10-Q | |
05/02/14 | 03/31/14 | 10-Q | |
02/03/14 | 12/31/13 | 10-Q | |
11/21/13 | 09/30/13 | 10-K | |
08/01/13 | 06/30/13 | 10-Q | |
05/03/13 | 03/31/13 | 10-Q | |
02/01/13 | 12/31/12 | 10-Q | |
11/19/12 | 09/30/12 | 10-K | |
08/02/12 | 06/30/12 | 10-Q | |
05/03/12 | 03/31/12 | 10-Q | |
05/10/13 | 03/31/12 | 10-Q/A | |
02/03/12 | 12/31/11 | 10-Q | |
11/22/11 | 09/30/11 | 10-K | |
08/03/11 | 06/30/11 | 10-Q | |
05/04/11 | 03/31/11 | 10-Q | |
01/31/11 | 12/31/10 | 10-Q | |
11/23/10 | 09/30/10 | 10-K | |
08/03/11 | 06/30/10 | 10-Q | |
05/04/10 | 03/31/10 | 10-Q | |
02/03/10 | 12/31/09 | 10-Q | |
11/25/09 | 09/30/09 | 10-K | |
08/03/10 | 06/30/09 | 10-Q | |
08/03/09 | 06/30/09 | 10-Q | |
05/11/09 | 03/31/09 | 10-Q | |
02/05/09 | 12/31/08 | 11-K | |
11/25/08 | 09/30/08 | 10-K | |
08/08/08 | 06/30/08 | Unknown | -- |
05/06/08 | 03/30/08 | Unknown | -- |
02/05/08 | 12/31/07 | 11-K | |
11/29/07 | 09/30/07 | 10-K | |
08/06/07 | 06/30/07 | Unknown | -- |
05/08/07 | 03/31/07 | 10-Q | |
02/05/07 | 12/31/06 | 11-K | |
12/05/06 | 09/30/06 | 10-K | |
08/09/06 | 06/30/06 | 10-Q | |
05/09/06 | 03/30/06 | Unknown | -- |
02/08/06 | 12/31/05 | 11-K | |
12/09/05 | 09/30/05 | 10-K | |
08/09/05 | 06/30/05 | Unknown | -- |
05/06/05 | 03/30/05 | Unknown | -- |
01/31/05 | 12/31/04 | 10-Q | |
11/30/04 | 09/30/04 | 10-K | |
08/05/04 | 06/30/04 | 10-Q | |
05/06/04 | 03/30/04 | Unknown | -- |
02/06/04 | 12/31/03 | 10-Q | |
12/04/03 | 09/30/03 | 10-K | |
08/06/03 | 06/30/03 | 10-Q | |
05/08/03 | 03/30/03 | Unknown | -- |
02/07/03 | 12/31/02 | 10-Q | |
12/16/02 | 09/30/02 | 10-K | |
08/09/02 | 06/30/02 | 10-Q | |
05/15/02 | 03/30/02 | Unknown | -- |
02/14/02 | 12/31/01 | 10-Q | |
12/21/01 | 09/30/01 | 10-K | |
08/14/01 | 06/30/01 | 10-Q | |
05/15/01 | 03/30/01 | Unknown | -- |
02/14/01 | 12/31/00 | 10-Q | |
12/22/00 | 09/30/00 | 10-K405 | |
08/14/00 | 06/30/00 | 10-Q | |
05/12/00 | 03/30/00 | Unknown | -- |