Common Stock Valuation Ratios (Price Multiples)
Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
Current Valuation Ratios
Johnson Controls International plc, current price multiples
| Johnson Controls International plc | Boeing Co. | Caterpillar Inc. | Eaton Corp. plc | GE Aerospace | Honeywell International Inc. | Lockheed Martin Corp. | RTX Corp. | Capital Goods | Industrials | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | |||||||||||||
| Current share price (P) | $60.47 | ||||||||||||
| No. shares of common stock outstanding | 673,675,568 | ||||||||||||
| Growth rate (g) | 4.62% | ||||||||||||
| Earnings per share (EPS) | $2.74 | ||||||||||||
| Next year expected EPS | $2.87 | ||||||||||||
| Operating profit per share | $2.56 | ||||||||||||
| Sales per share | $39.77 | ||||||||||||
| Book value per share (BVPS) | $24.56 | ||||||||||||
| Valuation Ratios (Price Multiples) | |||||||||||||
| Price to earnings (P/E) | 22.03 | — | 17.82 | 44.27 | 20.97 | 26.05 | 18.32 | 49.64 | 28.72 | 27.40 | |||
| Price to next year expected earnings | 21.06 | — | 14.55 | 41.55 | 20.63 | 22.46 | 11.60 | 48.64 | 28.67 | 27.72 | |||
| Price-earnings-growth (PEG) | 4.77 | — | 0.79 | 6.77 | 12.76 | 1.63 | 0.32 | 24.18 | 146.82 | — | |||
| Price to operating profit (P/OP) | 23.60 | — | 14.21 | 36.67 | 35.14 | 20.81 | 14.90 | 44.54 | 25.60 | 23.30 | |||
| Price to sales (P/S) | 1.52 | 1.16 | 2.88 | 6.14 | 2.98 | 4.02 | 1.88 | 2.30 | 2.59 | 2.35 | |||
| Price to book value (P/BV) | 2.46 | — | 9.45 | 7.48 | 7.04 | 9.30 | 18.54 | 2.65 | 7.95 | 7.55 | |||
Based on: 10-K (reporting date: 2023-09-30).
If the company price multiple is lower then the price multiple of benchmark then company stock is relatively undervalued.
Otherwise, if the company price multiple is higher then the price multiple of benchmark then company stock is relatively overvalued.
Historical Valuation Ratios (Summary)
Johnson Controls International plc, historical price multiples
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).
| Valuation ratio | Description | The company |
|---|---|---|
| P/E ratio | The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. | Johnson Controls International plc P/E ratio decreased from 2021 to 2022 and from 2022 to 2023. |
| P/OP ratio | Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. | Johnson Controls International plc P/OP ratio increased from 2021 to 2022 but then decreased significantly from 2022 to 2023. |
| P/S ratio | An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. | Johnson Controls International plc P/S ratio decreased from 2021 to 2022 and from 2022 to 2023. |
| P/BV ratio | The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. | Johnson Controls International plc P/BV ratio decreased from 2021 to 2022 and from 2022 to 2023. |
Price to Earnings (P/E)
Johnson Controls International plc, historical P/E calculation, comparison to benchmarks
| 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$) | |||||||
| Net income attributable to Johnson Controls (in millions) | 1,849) | 1,532) | 1,637) | 631) | 5,674) | 2,162) | |
| Earnings per share (EPS)2 | 2.72 | 2.23 | 2.32 | 0.87 | 7.36 | 2.34 | |
| Share price1, 3 | 54.10 | 66.40 | 78.33 | 45.36 | 42.23 | 33.34 | |
| Valuation Ratio | |||||||
| P/E ratio4 | 19.92 | 29.76 | 33.70 | 52.04 | 5.74 | 14.25 | |
| Benchmarks | |||||||
| P/E Ratio, Competitors5 | |||||||
| Boeing Co. | — | — | — | — | — | — | |
| Caterpillar Inc. | 15.55 | 19.15 | 16.82 | 36.80 | 12.36 | — | |
| Eaton Corp. plc | 35.88 | 27.93 | 27.77 | 37.46 | 18.06 | — | |
| GE Aerospace | 16.18 | — | — | 19.67 | — | — | |
| Honeywell International Inc. | 22.73 | 26.97 | 23.14 | 29.63 | 20.97 | — | |
| Lockheed Martin Corp. | 15.35 | 20.48 | 16.70 | 13.44 | 19.87 | — | |
| RTX Corp. | 38.31 | 27.59 | 36.79 | — | 24.41 | — | |
| P/E Ratio, Sector | |||||||
| Capital Goods | 25.10 | 40.21 | 57.31 | 123.55 | 39.03 | — | |
| P/E Ratio, Industry | |||||||
| Industrials | 25.76 | 36.38 | 33.32 | 161.96 | 49.05 | — | |
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 2023 Calculation
EPS = Net income attributable to Johnson Controls ÷ No. shares of common stock outstanding
= 1,849,000,000 ÷ 680,673,839 = 2.72
3 Closing price as at the filing date of Johnson Controls International plc Annual Report.
4 2023 Calculation
P/E ratio = Share price ÷ EPS
= 54.10 ÷ 2.72 = 19.92
5 Click competitor name to see calculations.
| Valuation ratio | Description | The company |
|---|---|---|
| P/E ratio | The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. | Johnson Controls International plc P/E ratio decreased from 2021 to 2022 and from 2022 to 2023. |
Price to Operating Profit (P/OP)
Johnson Controls International plc, historical P/OP calculation, comparison to benchmarks
| 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$) | |||||||
| Operating income (in millions) | 1,726) | 1,677) | 2,559) | 963) | 1,214) | 3,107) | |
| Operating profit per share2 | 2.54 | 2.44 | 3.63 | 1.33 | 1.57 | 3.36 | |
| Share price1, 3 | 54.10 | 66.40 | 78.33 | 45.36 | 42.23 | 33.34 | |
| Valuation Ratio | |||||||
| P/OP ratio4 | 21.34 | 27.19 | 21.56 | 34.10 | 26.83 | 9.92 | |
| Benchmarks | |||||||
| P/OP Ratio, Competitors5 | |||||||
| Boeing Co. | — | — | — | — | — | — | |
| Caterpillar Inc. | 12.40 | 16.25 | 15.87 | 24.23 | 9.08 | — | |
| Eaton Corp. plc | 29.72 | 22.78 | 19.33 | 25.83 | 13.95 | — | |
| GE Aerospace | 27.11 | 19.88 | 17.46 | 25.64 | 9.22 | — | |
| Honeywell International Inc. | 18.15 | 20.84 | 20.68 | 24.86 | 18.81 | — | |
| Lockheed Martin Corp. | 12.49 | 14.06 | 11.56 | 10.63 | 14.49 | — | |
| RTX Corp. | 34.37 | 26.48 | 28.68 | — | 15.07 | — | |
| P/OP Ratio, Sector | |||||||
| Capital Goods | 22.37 | 25.20 | 22.96 | 70.31 | 17.55 | — | |
| P/OP Ratio, Industry | |||||||
| Industrials | 21.90 | 20.37 | 21.72 | 48.99 | 19.39 | — | |
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 2023 Calculation
Operating profit per share = Operating income ÷ No. shares of common stock outstanding
= 1,726,000,000 ÷ 680,673,839 = 2.54
3 Closing price as at the filing date of Johnson Controls International plc Annual Report.
4 2023 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 54.10 ÷ 2.54 = 21.34
5 Click competitor name to see calculations.
| Valuation ratio | Description | The company |
|---|---|---|
| P/OP ratio | Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. | Johnson Controls International plc P/OP ratio increased from 2021 to 2022 but then decreased significantly from 2022 to 2023. |
Price to Sales (P/S)
Johnson Controls International plc, historical P/S calculation, comparison to benchmarks
| 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$) | |||||||
| Net sales (in millions) | 26,793) | 25,299) | 23,668) | 22,317) | 23,968) | 31,400) | |
| Sales per share2 | 39.36 | 36.84 | 33.60 | 30.83 | 31.07 | 33.98 | |
| Share price1, 3 | 54.10 | 66.40 | 78.33 | 45.36 | 42.23 | 33.34 | |
| Valuation Ratio | |||||||
| P/S ratio4 | 1.37 | 1.80 | 2.33 | 1.47 | 1.36 | 0.98 | |
| Benchmarks | |||||||
| P/S Ratio, Competitors5 | |||||||
| Boeing Co. | 1.66 | 1.90 | 1.87 | 1.96 | 2.34 | — | |
| Caterpillar Inc. | 2.52 | 2.27 | 2.26 | 2.83 | 1.48 | — | |
| Eaton Corp. plc | 4.98 | 3.31 | 3.03 | 2.96 | 1.87 | — | |
| GE Aerospace | 2.30 | 1.20 | 1.50 | 1.41 | 1.18 | — | |
| Honeywell International Inc. | 3.51 | 3.78 | 3.73 | 4.34 | 3.51 | — | |
| Lockheed Martin Corp. | 1.57 | 1.78 | 1.57 | 1.40 | 2.07 | — | |
| RTX Corp. | 1.78 | 2.14 | 2.21 | 1.95 | 1.75 | — | |
| P/S Ratio, Sector | |||||||
| Capital Goods | 2.26 | 2.09 | 2.09 | 2.11 | 1.92 | — | |
| P/S Ratio, Industry | |||||||
| Industrials | 2.21 | 1.90 | 2.13 | 2.17 | 1.88 | — | |
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 2023 Calculation
Sales per share = Net sales ÷ No. shares of common stock outstanding
= 26,793,000,000 ÷ 680,673,839 = 39.36
3 Closing price as at the filing date of Johnson Controls International plc Annual Report.
4 2023 Calculation
P/S ratio = Share price ÷ Sales per share
= 54.10 ÷ 39.36 = 1.37
5 Click competitor name to see calculations.
| Valuation ratio | Description | The company |
|---|---|---|
| P/S ratio | An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. | Johnson Controls International plc P/S ratio decreased from 2021 to 2022 and from 2022 to 2023. |
Price to Book Value (P/BV)
Johnson Controls International plc, historical P/BV calculation, comparison to benchmarks
| 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$) | |||||||
| Shareholders’ equity attributable to Johnson Controls (in millions) | 16,545) | 16,268) | 17,562) | 17,447) | 19,766) | 21,164) | |
| Book value per share (BVPS)2 | 24.31 | 23.69 | 24.93 | 24.10 | 25.62 | 22.90 | |
| Share price1, 3 | 54.10 | 66.40 | 78.33 | 45.36 | 42.23 | 33.34 | |
| Valuation Ratio | |||||||
| P/BV ratio4 | 2.23 | 2.80 | 3.14 | 1.88 | 1.65 | 1.46 | |
| Benchmarks | |||||||
| P/BV Ratio, Competitors5 | |||||||
| Boeing Co. | — | — | — | — | — | — | |
| Caterpillar Inc. | 8.25 | 8.09 | 6.62 | 7.20 | 5.16 | — | |
| Eaton Corp. plc | 6.07 | 4.04 | 3.63 | 3.54 | 2.48 | — | |
| GE Aerospace | 5.43 | 2.43 | 2.64 | 2.89 | 3.66 | — | |
| Honeywell International Inc. | 8.11 | 8.02 | 6.91 | 8.07 | 6.97 | — | |
| Lockheed Martin Corp. | 15.54 | 12.67 | 9.62 | 15.27 | 39.60 | — | |
| RTX Corp. | 2.05 | 1.97 | 1.95 | 1.53 | 3.24 | — | |
| P/BV Ratio, Sector | |||||||
| Capital Goods | 6.94 | 5.31 | 4.77 | 5.05 | 6.91 | — | |
| P/BV Ratio, Industry | |||||||
| Industrials | 7.09 | 5.60 | 5.49 | 5.98 | 6.61 | — | |
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 2023 Calculation
BVPS = Shareholders’ equity attributable to Johnson Controls ÷ No. shares of common stock outstanding
= 16,545,000,000 ÷ 680,673,839 = 24.31
3 Closing price as at the filing date of Johnson Controls International plc Annual Report.
4 2023 Calculation
P/BV ratio = Share price ÷ BVPS
= 54.10 ÷ 24.31 = 2.23
5 Click competitor name to see calculations.
| Valuation ratio | Description | The company |
|---|---|---|
| P/BV ratio | The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. | Johnson Controls International plc P/BV ratio decreased from 2021 to 2022 and from 2022 to 2023. |