Tearsheet

Johnson Controls International (JCI)


Market Price (3/14/2026): $130.16 | Market Cap: $79.5 Bil
Sector: Industrials | Industry: Building Products

Johnson Controls International (JCI)


Market Price (3/14/2026): $130.16
Market Cap: $79.5 Bil
Sector: Industrials
Industry: Building Products

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.2%
Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 32x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 47x
1 Low stock price volatility
Vol 12M is 29%
 
2 Megatrend and thematic drivers
Megatrends include Smart Buildings & Proptech, Sustainable & Green Buildings, Electrification of Everything, and Smart Grids & Grid Modernization. Show more.
 
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.2%
1 Low stock price volatility
Vol 12M is 29%
2 Megatrend and thematic drivers
Megatrends include Smart Buildings & Proptech, Sustainable & Green Buildings, Electrification of Everything, and Smart Grids & Grid Modernization. Show more.
3 Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 32x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 47x

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Johnson Controls International (JCI) stock has gained about 10% since 11/30/2025 because of the following key factors:

1. Strong Fiscal Q1 2026 Earnings Beat and Raised Guidance.

Johnson Controls reported adjusted earnings per share (EPS) of $0.89 for the first quarter of fiscal 2026 (ended December 2025) on February 4, 2026, exceeding analysts' consensus estimates of $0.84 by 5.95%. Total revenues reached $5.80 billion, surpassing consensus estimates of approximately $5.64 billion, and grew 7% year-over-year (6% organically). Following these results, the company raised its full-year fiscal 2026 adjusted EPS guidance to approximately $4.70 from the prior ~$4.55, representing a 3.3% increase. The stock surged 8.3% in after-hours trading after the announcement.

2. Surging Demand for Data Center Cooling Solutions and Record Backlog Growth.

A significant driver was the strong demand for Johnson Controls' data center cooling technologies, which management cited as a key catalyst linked to the AI infrastructure buildout. This led to organic order growth of 39% year-over-year in Q1 fiscal 2026. The company's backlog reached a record $18.2 billion, an increase of 20% organically year-over-year. This growth was primarily fueled by accelerated investments in data center projects by customers. Johnson Controls also introduced new chiller platforms specifically designed for high-density data centers.

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Stock Movement Drivers

Fundamental Drivers

The 12.3% change in JCI stock from 11/30/2025 to 3/13/2026 was primarily driven by a 5.4% change in the company's P/E Multiple.
(LTM values as of)113020253132026Change
Stock Price ($)115.92130.1612.3%
Change Contribution By: 
Total Revenues ($ Mil)23,59623,9671.6%
Net Income Margin (%)13.9%14.2%1.6%
P/E Multiple22.223.45.4%
Shares Outstanding (Mil)6306113.2%
Cumulative Contribution12.3%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 3/13/2026
ReturnCorrelation
JCI12.3% 
Market (SPY)-3.1%33.7%
Sector (XLI)7.1%49.5%

Fundamental Drivers

The 22.6% change in JCI stock from 8/31/2025 to 3/13/2026 was primarily driven by a 48.6% change in the company's Net Income Margin (%).
(LTM values as of)83120253132026Change
Stock Price ($)106.14130.1622.6%
Change Contribution By: 
Total Revenues ($ Mil)23,40223,9672.4%
Net Income Margin (%)9.5%14.2%48.6%
P/E Multiple31.223.4-24.9%
Shares Outstanding (Mil)6556117.3%
Cumulative Contribution22.6%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2025 to 3/13/2026
ReturnCorrelation
JCI22.6% 
Market (SPY)3.0%38.7%
Sector (XLI)8.8%51.7%

Fundamental Drivers

The 54.3% change in JCI stock from 2/28/2025 to 3/13/2026 was primarily driven by a 87.6% change in the company's Net Income Margin (%).
(LTM values as of)22820253132026Change
Stock Price ($)84.37130.1654.3%
Change Contribution By: 
Total Revenues ($ Mil)23,16923,9673.4%
Net Income Margin (%)7.6%14.2%87.6%
P/E Multiple31.923.4-26.6%
Shares Outstanding (Mil)6626118.3%
Cumulative Contribution54.3%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2025 to 3/13/2026
ReturnCorrelation
JCI54.3% 
Market (SPY)12.4%69.1%
Sector (XLI)22.0%73.9%

Fundamental Drivers

The 120.6% change in JCI stock from 2/28/2023 to 3/13/2026 was primarily driven by a 132.7% change in the company's Net Income Margin (%).
(LTM values as of)22820233132026Change
Stock Price ($)59.00130.16120.6%
Change Contribution By: 
Total Revenues ($ Mil)20,84323,96715.0%
Net Income Margin (%)6.1%14.2%132.7%
P/E Multiple31.923.4-26.7%
Shares Outstanding (Mil)68761112.4%
Cumulative Contribution120.6%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2023 to 3/13/2026
ReturnCorrelation
JCI120.6% 
Market (SPY)73.4%61.7%
Sector (XLI)70.2%69.4%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
JCI Return77%-19%-8%40%54%13%221%
Peers Return15%-3%28%36%8%11%134%
S&P 500 Return27%-19%24%23%16%-1%80%

Monthly Win Rates [3]
JCI Win Rate92%42%42%58%75%33% 
Peers Win Rate68%42%50%62%48%67% 
S&P 500 Win Rate75%42%67%75%67%33% 

Max Drawdowns [4]
JCI Max Drawdown-1%-42%-23%-9%-9%-7% 
Peers Max Drawdown-5%-27%-11%-6%-21%-1% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-2% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: HON, TT, EMR, CMI, LII. See JCI Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/13/2026 (YTD)

How Low Can It Go

Unique KeyEventJCIS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-43.1%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven75.6%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven846 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-44.6%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven80.6%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven175 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-35.5%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven55.0%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven262 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-70.7%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven241.0%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven1,212 days1,480 days

Compare to HON, TT, EMR, CMI, LII

In The Past

Johnson Controls International's stock fell -43.1% during the 2022 Inflation Shock from a high on 12/31/2021. A -43.1% loss requires a 75.6% gain to breakeven.

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About Johnson Controls International (JCI)

Johnson Controls International plc, together with its subsidiaries, engages in engineering, manufacturing, commissioning, and retrofitting building products and systems in the United States, Europe, the Asia Pacific, and internationally. It operates in four segments: Building Solutions North America, Building Solutions EMEA/LA, Building Solutions Asia Pacific, and Global Products. The company designs, sells, installs, and services heating, ventilating, air conditioning, controls, building management, refrigeration, integrated electronic security, integrated fire detection and suppression systems, and fire protection and security products for commercial, industrial, retail, small business, institutional, and governmental customers; and provides energy efficiency solutions and technical services, including inspection, scheduled maintenance, and repair and replacement of mechanical and control systems, as well as data-driven smart building solutions to non-residential building and industrial applications. It also offers controls software and software services for residential and commercial applications. Johnson Controls International plc was founded in 1885 and is headquartered in Cork, Ireland.

AI Analysis | Feedback

Here are 1-3 brief analogies to describe Johnson Controls International (JCI):

  • Honeywell for commercial building systems.

  • Siemens for building automation and infrastructure.

AI Analysis | Feedback

```html
  • HVAC Systems: Designs, sells, installs, and services heating, ventilating, and air conditioning systems for various applications.
  • Building Controls & Management Systems: Provides comprehensive systems for monitoring and managing building functions, climate, and operations.
  • Refrigeration Systems: Offers commercial and industrial refrigeration solutions for diverse customer needs.
  • Integrated Security Systems: Delivers electronic security systems, including access control and surveillance, for building protection.
  • Fire Safety Systems: Provides integrated fire detection, suppression, and protection systems to ensure building safety.
  • Energy Efficiency Solutions: Offers services focused on optimizing building energy performance and reducing consumption.
  • Technical & Maintenance Services: Provides inspection, scheduled maintenance, repair, and replacement services for mechanical and control systems.
  • Smart Building Solutions & Software: Develops data-driven smart building solutions and controls software for intelligent building management.
```

AI Analysis | Feedback

Johnson Controls International (JCI) primarily sells its building products, systems, and services to other companies and organizations, operating within a Business-to-Business (B2B) model. Due to the diverse and project-based nature of its business, JCI does not typically disclose specific major customer companies by name in its public filings. Instead, its customer base spans various sectors.

The major categories of customers that Johnson Controls International serves include:

  • Commercial customers: Businesses operating in various commercial sectors, such as office buildings, hotels, and entertainment venues.
  • Industrial customers: Manufacturing plants, factories, and other industrial facilities requiring specialized systems for their operations.
  • Retail customers: Retail chains, shopping centers, and individual stores.
  • Small business customers: Smaller enterprises requiring building management and security solutions.
  • Institutional customers: Organizations such as hospitals, universities, schools, and cultural institutions.
  • Governmental customers: Federal, state, and local government facilities and agencies.

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The emerging threat of major technology companies (e.g., Amazon, Google, Microsoft) establishing dominant, open-platform software ecosystems for integrated smart building management. These tech giants could leverage their cloud infrastructure, artificial intelligence capabilities, and ecosystem strategies to provide comprehensive building operating systems that may commoditize JCI's proprietary hardware and software solutions, shifting value away from traditional integrated systems to a software-first, platform-centric approach.

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Better Bets vs. Johnson Controls International (JCI)

Latest Trefis Analyses

Trade Ideas

Select ideas related to JCI.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
EFX_2272026_Monopoly_xInd_xCD_Getting_Cheaper02272026EFXEquifaxMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
0.0%0.0%0.0%
LZ_2202026_Dip_Buyer_High_CFO_Margins_ExInd_DE02202026LZLegalZoom.comDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
7.2%7.2%-5.0%
ADP_2132026_Dip_Buyer_ValueBuy02132026ADPAutomatic Data ProcessingDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
1.1%1.1%-3.0%
TREX_2132026_Dip_Buyer_ValueBuy02132026TREXTrexDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
-3.2%-3.2%-5.9%
PCTY_2132026_Dip_Buyer_High_CFO_Margins_ExInd_DE02132026PCTYPaylocityDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
-0.6%-0.6%-4.8%
JCI_2062026_Insider_Buying_GTE_1Mil_EBITp+DE_V202062026JCIJohnson Controls InternationalInsiderInsider Buys | Low D/EStrong Insider Buying
Companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap
4.8%4.8%0.0%

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

JCIHONTTEMRCMILIIMedian
NameJohnson .Honeywel.Trane Te.Emerson .Cummins Lennox I. 
Mkt Price130.16234.50422.40132.24535.71480.96328.45
Mkt Cap79.5148.993.774.374.016.876.9
Rev LTM23,96737,44221,32218,18633,6705,19522,644
Op Inc LTM3,1546,5673,9673,6133,8711,0533,742
FCF LTM1,2985,4222,8122,5752,3866392,480
FCF 3Y Avg1,7465,0822,5582,0321,8066361,919
CFO LTM1,6966,4083,1943,0203,6217583,107
CFO 3Y Avg2,1865,9482,9102,4493,0258132,680

Growth & Margins

JCIHONTTEMRCMILIIMedian
NameJohnson .Honeywel.Trane Te.Emerson .Cummins Lennox I. 
Rev Chg LTM3.4%7.8%7.5%3.6%-1.3%-2.7%3.5%
Rev Chg 3Y Avg4.8%2.0%10.1%9.1%6.7%3.4%5.8%
Rev Chg Q6.8%8.8%5.5%4.1%1.1%-11.2%4.8%
QoQ Delta Rev Chg LTM1.6%1.5%1.3%0.9%0.3%-2.8%1.1%
Op Mgn LTM13.2%17.5%18.6%19.9%11.5%20.3%18.1%
Op Mgn 3Y Avg11.6%18.4%17.5%18.0%8.4%18.9%17.8%
QoQ Delta Op Mgn LTM1.2%-0.6%-0.2%0.3%0.3%0.3%0.3%
CFO/Rev LTM7.1%17.1%15.0%16.6%10.8%14.6%14.8%
CFO/Rev 3Y Avg9.6%17.0%14.8%13.9%8.9%15.7%14.3%
FCF/Rev LTM5.4%14.5%13.2%14.2%7.1%12.3%12.7%
FCF/Rev 3Y Avg7.7%14.5%13.0%11.5%5.3%12.2%11.8%

Valuation

JCIHONTTEMRCMILIIMedian
NameJohnson .Honeywel.Trane Te.Emerson .Cummins Lennox I. 
Mkt Cap79.5148.993.774.374.016.876.9
P/S3.34.04.44.12.23.23.6
P/EBIT32.221.824.021.417.216.121.6
P/E23.431.532.132.126.020.828.8
P/CFO46.923.229.324.620.422.223.9
Total Yield5.2%5.2%4.0%3.5%5.3%5.3%5.2%
Dividend Yield0.9%2.0%0.9%0.4%1.4%0.5%0.9%
FCF Yield 3Y Avg3.5%3.8%3.5%2.8%4.0%3.5%3.5%
D/E0.10.20.00.20.10.10.1
Net D/E0.10.20.00.20.10.10.1

Returns

JCIHONTTEMRCMILIIMedian
NameJohnson .Honeywel.Trane Te.Emerson .Cummins Lennox I. 
1M Rtn-7.7%-2.9%-10.4%-14.5%-10.3%-13.7%-10.3%
3M Rtn13.8%21.7%8.2%-2.8%5.4%-4.7%6.8%
6M Rtn21.9%18.9%5.9%-1.3%31.6%-11.2%12.4%
12M Rtn70.6%22.9%25.8%23.1%74.4%-13.1%24.5%
3Y Rtn121.1%37.4%131.0%68.5%141.2%100.2%110.7%
1M Excs Rtn-5.3%-0.5%-8.0%-12.1%-7.9%-11.3%-7.9%
3M Excs Rtn14.4%24.3%7.7%-1.5%4.1%-3.0%5.9%
6M Excs Rtn18.7%13.9%-0.6%-5.9%28.5%-17.6%6.7%
12M Excs Rtn46.9%2.1%4.6%0.3%44.0%-35.8%3.3%
3Y Excs Rtn43.1%-34.1%58.4%-6.2%53.9%22.6%32.8%

Comparison Analyses

FDA Approved Drugs Data

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Post-Approval Fwd Returns
FDA
App #
Brand
Name
Generic
Name
Dosage
Form
FDA
Approval
3M
Rtn
6M
Rtn
1Y
Rtn
2Y
Rtn
Total
Rtn
NDA022388  ACUVUE THERAVISION WITH KETOTIFENketotifen fumaratedrug-eluting contact lens2252022-15.9%-15.5%-2.0%-6.1%116.8%

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Products & Systems15,967    
Services6,985    
Building Solutions Asia Pacific 2,7462,7142,6162,403
Building Solutions Europe, the Middle East, Africa and Latin America (EMEA/LA) 4,0963,8453,8843,440
Building Solutions North America 10,3309,3678,6858,605
Global Products 5,1599,3738,4837,869
Total22,95222,33125,29923,66822,317


Price Behavior

Price Behavior
Market Price$130.16 
Market Cap ($ Bil)79.5 
First Trading Date09/28/1987 
Distance from 52W High-10.5% 
   50 Days200 Days
DMA Price$128.21$113.80
DMA Trendupup
Distance from DMA1.5%14.4%
 3M1YR
Volatility29.0%29.4%
Downside Capture6.8485.59
Upside Capture91.74123.48
Correlation (SPY)34.2%68.3%
JCI Betas & Captures as of 2/28/2026

 1M2M3M6M1Y3Y
Beta0.640.290.510.741.051.13
Up Beta1.420.990.930.481.021.11
Down Beta1.390.440.950.901.121.07
Up Capture181%75%89%116%142%184%
Bmk +ve Days9203170142431
Stock +ve Days14233772145414
Down Capture-162%-85%-59%40%87%103%
Bmk -ve Days12213054109320
Stock -ve Days7182451104335

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with JCI
JCI68.3%29.4%1.77-
Sector ETF (XLI)28.0%19.2%1.1673.9%
Equity (SPY)19.6%18.9%0.8168.2%
Gold (GLD)71.9%26.3%2.054.6%
Commodities (DBC)19.3%17.3%0.8916.4%
Real Estate (VNQ)6.2%16.3%0.1945.5%
Bitcoin (BTCUSD)-15.0%44.2%-0.2424.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with JCI
JCI19.1%27.7%0.64-
Sector ETF (XLI)13.4%17.1%0.6272.0%
Equity (SPY)13.1%17.0%0.6164.4%
Gold (GLD)24.1%17.3%1.146.3%
Commodities (DBC)11.2%19.0%0.4712.2%
Real Estate (VNQ)4.8%18.8%0.1649.6%
Bitcoin (BTCUSD)6.4%56.7%0.3322.8%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with JCI
JCI17.1%27.6%0.61-
Sector ETF (XLI)13.8%19.8%0.6171.4%
Equity (SPY)14.5%17.9%0.7064.9%
Gold (GLD)14.4%15.6%0.773.5%
Commodities (DBC)8.6%17.6%0.4020.8%
Real Estate (VNQ)5.6%20.7%0.2352.3%
Bitcoin (BTCUSD)67.5%66.8%1.0716.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date2272026
Short Interest: Shares Quantity7.9 Mil
Short Interest: % Change Since 2152026-21.9%
Average Daily Volume4.9 Mil
Days-to-Cover Short Interest1.6 days
Basic Shares Quantity611.0 Mil
Short % of Basic Shares1.3%

Earnings Returns History

Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
2/4/20264.4%11.9%10.6%
11/5/20258.8%9.8%2.9%
7/29/2025-7.4%-4.5%-2.7%
5/7/20251.1%8.2%15.2%
2/5/202511.3%15.4%4.9%
11/6/20248.8%13.8%11.0%
7/23/2024-1.5%-1.3%0.1%
5/1/2024-7.1%-0.9%10.0%
...
SUMMARY STATS   
# Positive131418
# Negative1095
Median Positive3.3%4.9%5.8%
Median Negative-5.3%-4.7%-10.2%
Max Positive11.3%15.4%19.3%
Max Negative-9.3%-17.3%-15.7%

SEC Filings

Expand for More
Report DateFiling DateFiling
12/31/202502/04/202610-Q
09/30/202511/14/202510-K
06/30/202508/06/202510-Q
03/31/202505/07/202510-Q
12/31/202402/05/202510-Q
09/30/202411/19/202410-K
06/30/202407/31/202410-Q
03/31/202405/01/202410-Q
12/31/202301/30/202410-Q
09/30/202312/14/202310-K
06/30/202308/02/202310-Q
03/31/202305/05/202310-Q
12/31/202202/01/202310-Q
09/30/202211/15/202210-K
06/30/202208/04/202210-Q
03/31/202205/04/202210-Q

Insider Activity

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#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Donofrio, JohnExec VP & General CounselDirectSell12112025116.0021,5952,505,0202,263,363Form
2Schlitz, Lei ZhangVP & Pres, Global ProductsDirectSell11252025113.2032,0313,625,9097,559,553Form
3Schlitz, Lei ZhangVP & Pres, Global ProductsDirectSell11072025122.0310,5001,281,31514,060,236Form
4McConeghy, Daniel CVP Chief Accounting & Tax OfcrDirectSell9042025105.735,917625,6042,643,778Form
5Manning, Nathan DVP and President, AmericasDirectSell9042025105.061,422149,39514,651,552Form