Stock Analysis on Net
Stock Analysis on Net

Johnson Controls International plc (NYSE:JCI)

This company has been moved to the archive! The financial data has not been updated since May 1, 2024.

Price to FCFE (P/FCFE)

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Free Cash Flow to Equity (FCFE)

Johnson Controls International plc, FCFE calculation

US$ in millions

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12 months ended: Sep 30, 2023 Sep 30, 2022 Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018
Net income attributable to Johnson Controls 1,849 1,532 1,637 631 5,674 2,162
Income attributable to noncontrolling interests 184 191 233 164 213 221
Net noncash charges 893 1,006 110 872 (2,374) 65
Changes in assets and liabilities, excluding acquisitions and divestitures (705) (739) 571 812 (1,770) 65
Cash provided by operating activities from continuing operations 2,221 1,990 2,551 2,479 1,743 2,513
Capital expenditures (539) (592) (552) (443) (586) (1,030)
Sale of property, plant and equipment 32 127 124 127 27 48
Net proceeds (payments) from borrowings with maturities less than three months (51) 379 (18) (33) (1,296) 107
Proceeds from debt 1,173 1,771 734 1,804 — 1,136
Repayments of debt (1,555) (184) (744) (1,386) (2,333) (3,729)
Free cash flow to equity (FCFE) 1,281 3,491 2,095 2,548 (2,445) (955)

Based on: 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30).

Item Description The company
FCFE Free cash flow to equity is the cash flow available to Johnson Controls International plc equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. Johnson Controls International plc FCFE increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.

Price to FCFE Ratio, Current

Johnson Controls International plc, current P/FCFE calculation, comparison to benchmarks

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No. shares of common stock outstanding 673,675,568
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions) 1,281
FCFE per share 1.90
Current share price (P) 60.47
Valuation Ratio
P/FCFE 31.80
Benchmarks
P/FCFE, Competitors1
Boeing Co. —
Caterpillar Inc. 15.36
Eaton Corp. plc 36.17
GE Aerospace 296.26
Honeywell International Inc. 26.93
Lockheed Martin Corp. 16.71
RTX Corp. 9.09
P/FCFE, Sector
Capital Goods 22.54
P/FCFE, Industry
Industrials 24.14

Based on: 10-K (reporting date: 2023-09-30).

1 Click competitor name to see calculations.

If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.

Price to FCFE Ratio, Historical

Johnson Controls International plc, historical P/FCFE calculation, comparison to benchmarks

Microsoft Excel
Sep 30, 2023 Sep 30, 2022 Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018
No. shares of common stock outstanding1 680,673,839 686,703,889 704,332,395 723,907,803 771,419,761 924,058,960
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)2 1,281 3,491 2,095 2,548 (2,445) (955)
FCFE per share3 1.88 5.08 2.97 3.52 -3.17 -1.03
Share price1, 4 54.10 66.40 78.33 45.36 42.23 33.34
Valuation Ratio
P/FCFE5 28.75 13.06 26.33 12.89 — —
Benchmarks
P/FCFE, Competitors6
Boeing Co. — 120.43 — 6.78 19.60 —
Caterpillar Inc. 14.39 24.03 16.36 25.22 11.07 —
Eaton Corp. plc 33.65 28.68 24.43 25.59 11.12 —
GE Aerospace 225.15 44.45 — — — —
Honeywell International Inc. 26.10 27.59 46.23 12.59 21.75 —
Lockheed Martin Corp. 13.13 11.63 14.65 15.57 28.62 —
RTX Corp. 7.05 26.71 35.07 — 28.09 —
P/FCFE, Sector
Capital Goods 20.26 25.94 — 74.91 27.54 —
P/FCFE, Industry
Industrials 22.81 23.85 — 49.40 28.48 —

Based on: 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30).

1 Data adjusted for splits and stock dividends.

2 See details »

3 2023 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= 1,281,000,000 ÷ 680,673,839 = 1.88

4 Closing price as at the filing date of Johnson Controls International plc Annual Report.

5 2023 Calculation
P/FCFE = Share price ÷ FCFE per share
= 54.10 ÷ 1.88 = 28.75

6 Click competitor name to see calculations.

Valuation ratio Description The company
P/FCFE Price to free cash flow to equity is cash valuation indicator of stockholders’ equity. Johnson Controls International plc P/FCFE ratio decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.