Stock Analysis on Net

Johnson Controls International plc (NYSE:JCI)

$22.49

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

Common Stock Valuation Ratios (Price Multiples)
Quarterly Data

Microsoft Excel

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Historical Valuation Ratios (Summary)

Johnson Controls International plc, historical price multiples (quarterly data)

Microsoft Excel
Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017
Price to earnings (P/E)
Price to operating profit (P/OP)
Price to sales (P/S)
Price to book value (P/BV)

Based on: 10-Q (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-K (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-K (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-K (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-K (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31).


Price to Earnings (P/E) Ratio
The Price to Earnings ratio presented a notable degree of volatility over the observed periods. Beginning around the end of 2017, the ratio was unavailable until the first recorded value in December 2018 at 14.25. Over the successive quarters, it fluctuated moderately, descending to a low of 4 during mid-2020. After this point, a sharp increase occurred, peaking in the range of the high 30s to low 50s by late 2020. Subsequently, the ratio showed a gradual decline through 2021 and 2022, with some oscillations, finally arriving near 24 by the first quarter of 2024. This pattern suggests periods of significantly changed earnings expectations or market price adjustments relative to earnings.
Price to Operating Profit (P/OP) Ratio
The Price to Operating Profit ratio also experienced considerable fluctuation. Initially recorded in late 2018 at 9.92, it increased steadily over the following quarters, reaching a peak above 26 near the end of 2019, including a short-term spike to over 62 in a quarter of 2020, indicating a sharp shift in price relative to operating profitability, possibly due to extraordinary circumstances during that period. Following this anomaly, the ratio declined continuously, returning to lower levels around 18-20 through late 2022 and early 2023, but again rising towards nearly 29 by the first quarter of 2024. The variability implies shifts in either market sentiment or operating profit performance relative to share price.
Price to Sales (P/S) Ratio
The Price to Sales ratio demonstrated a generally upward trend over the period analyzed. Starting from slightly below 1 in late 2018, the ratio increased gradually, crossing the 2 mark by mid-2021. The growth decelerated thereafter, and the ratio declined somewhat in 2022 but remained elevated above 1.3 into early 2024. This progression points toward an increasing valuation of sales over time, reflecting possibly improved revenue quality, market optimism, or pricing power.
Price to Book Value (P/BV) Ratio
The Price to Book Value ratio exhibited a generally increasing trend from 2017 through 2021, rising from approximately 1.5 to over 3, indicating a growing premium investors place on the company’s book value. This ratio peaked in late 2021, followed by a decline through 2022, dropping to just above 2.2 by early 2024. This decrease after the peak may indicate market reassessment of the company's net asset values or a correction in valuation multiples after an extended period of growth.

Price to Earnings (P/E)

Johnson Controls International plc, historical P/E calculation (quarterly data)

Microsoft Excel
Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017
No. shares of common stock outstanding1
Selected Financial Data (US$)
Net income (loss) attributable to Johnson Controls (in millions)
Earnings per share (EPS)2
Share price1, 3
Valuation Ratio
P/E ratio4
Benchmarks
P/E Ratio, Competitors5
Boeing Co.
Caterpillar Inc.
Eaton Corp. plc
GE Aerospace
Honeywell International Inc.
Lockheed Martin Corp.
RTX Corp.

Based on: 10-Q (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-K (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-K (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-K (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-K (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31).

1 Data adjusted for splits and stock dividends.

2 Q2 2024 Calculation
EPS = (Net income (loss) attributable to Johnson ControlsQ2 2024 + Net income (loss) attributable to Johnson ControlsQ1 2024 + Net income (loss) attributable to Johnson ControlsQ4 2023 + Net income (loss) attributable to Johnson ControlsQ3 2023) ÷ No. shares of common stock outstanding
= ( + + + ) ÷ =

3 Closing price as at the filing date of Johnson Controls International plc Quarterly or Annual Report.

4 Q2 2024 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =

5 Click competitor name to see calculations.


The share price exhibited considerable fluctuations over the observed periods. Initially, it showed a declining trend from late 2017 to early 2018, followed by a moderate recovery through mid-2019. A significant drop occurred around the first quarter of 2020, coinciding with wider market disruptions, but was swiftly followed by a strong rebound, reaching a peak in late 2021. Subsequently, the price experienced volatility with a downward movement into early 2023, before partially recovering towards the first quarter of 2024.

Earnings per share (EPS) data, available starting mid-2018, revealed some distinct trends. After a period of growth до late 2019, EPS peaked notably before declining sharply in early 2020. Post-2020, EPS figures remained relatively low and exhibited volatility with gradual improvements visible towards late 2023 and early 2024. This pattern suggests the company faced earnings pressure during the 2020 period, with some recovery evident in the longer term.

The price-to-earnings (P/E) ratio moved inversely to EPS and share price trends in several instances. Early on, it maintained moderate levels but surged dramatically during the 2020 period, surpassing 50 at one point, reflecting either a steep drop in earnings or investor optimism not matched by earnings growth. Following this peak, the ratio gradually declined, indicating either rising earnings or decreasing share price, with values stabilizing in the 20s by early 2024. This progression illustrates fluctuating market perceptions of valuation relative to earnings throughout the timeframe.

Share Price
Demonstrated notable volatility with an initial decrease, mid-period recovery, a 2020 dip, a strong rebound towards late 2021, and subsequent fluctuations with partial recovery in early 2024.
Earnings Per Share (EPS)
Displayed growth until late 2019, followed by a significant decline during early 2020, with ongoing volatility and slow recovery toward the end of the observed period.
Price-to-Earnings (P/E) Ratio
Moved substantially higher during the 2020 period indicative of earnings challenges or valuation changes, before declining and stabilizing in the 20s by early 2024, reflecting adjustments in investor sentiment or earnings performance.

Price to Operating Profit (P/OP)

Johnson Controls International plc, historical P/OP calculation (quarterly data)

Microsoft Excel
Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017
No. shares of common stock outstanding1
Selected Financial Data (US$)
Operating income (loss) (in millions)
Operating profit per share2
Share price1, 3
Valuation Ratio
P/OP ratio4
Benchmarks
P/OP Ratio, Competitors5
Boeing Co.
Caterpillar Inc.
Eaton Corp. plc
GE Aerospace
Honeywell International Inc.
Lockheed Martin Corp.
RTX Corp.

Based on: 10-Q (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-K (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-K (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-K (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-K (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31).

1 Data adjusted for splits and stock dividends.

2 Q2 2024 Calculation
Operating profit per share = (Operating income (loss)Q2 2024 + Operating income (loss)Q1 2024 + Operating income (loss)Q4 2023 + Operating income (loss)Q3 2023) ÷ No. shares of common stock outstanding
= ( + + + ) ÷ =

3 Closing price as at the filing date of Johnson Controls International plc Quarterly or Annual Report.

4 Q2 2024 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =

5 Click competitor name to see calculations.


Share Price Trend
The share price exhibited notable fluctuations over the observed periods. Starting at $39.53 at the end of 2017, it experienced some volatility throughout 2018 and 2019, with prices generally ranging between $33 and $42. A significant drop was evident in early 2020, reaching as low as $27.86 in March 2020. This was followed by a strong recovery and upward trend, peaking at $78.33 in September 2021. After this peak, the share price declined moderately but remained relatively elevated compared to earlier years, fluctuating between approximately $54 and $66 in 2022 and early 2023. Toward the end of the observation period, the price stabilized around the mid $50s to low $60s, showing modest improvement by March 2024 to $60.47.
Operating Profit Per Share (OPPS) Trend
Operating profit per share (OPPS) data became available starting from December 2018. The OPPS started at $3.36 and followed a generally downward trend from late 2018 through late 2020, reaching a low of $0.62 in September 2020. From late 2020 onward, OPPS demonstrated a recovery trend, rising steadily to a peak of approximately $3.7 in March 2022. Subsequently, there was a gradual decline in OPPS to around $2.44 in June 2023, followed by slight fluctuations that maintained the OPPS in the range of $2.1 to $2.9 toward the early months of 2024.
Price to Operating Profit Ratio (P/OP)
The P/OP ratio showed considerable variation that inversely mirrored the trends of operating profit per share and the share price. Initially, from the introduction of OPPS data in 2018, the ratio increased sharply from 9.92 to a peak of 62.11 in September 2020, reflecting a period of shrinking operating profit per share amid fluctuating share prices. After this peak, the ratio decreased significantly as the operating profit per share recovered, dropping to a range between approximately 18.5 and 31 throughout 2021 and into early 2022. The ratio then remained volatile but generally trended upward again, reaching values near 28.63 by March 2024, indicating recent share price changes outpacing operating profit increases or a combination of both factors.
Overall Insights
The data indicates a turbulent financial environment for the observed company, with share price and operating profit per share being susceptible to external and internal economic factors, most notably the significant impact observed during early 2020. The subsequent recovery in both share price and operating profit per share suggests effective management or improved market conditions post-2020. However, the volatility in the P/OP ratio reveals ongoing uncertainty or valuation adjustments by the market relative to underlying profitability. This points to the need for continuous monitoring of profitability metrics alongside market valuation to assess future performance and investor sentiment.

Price to Sales (P/S)

Johnson Controls International plc, historical P/S calculation (quarterly data)

Microsoft Excel
Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017
No. shares of common stock outstanding1
Selected Financial Data (US$)
Net sales (in millions)
Sales per share2
Share price1, 3
Valuation Ratio
P/S ratio4
Benchmarks
P/S Ratio, Competitors5
Boeing Co.
Caterpillar Inc.
Eaton Corp. plc
GE Aerospace
Honeywell International Inc.
Lockheed Martin Corp.
RTX Corp.

Based on: 10-Q (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-K (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-K (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-K (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-K (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31).

1 Data adjusted for splits and stock dividends.

2 Q2 2024 Calculation
Sales per share = (Net salesQ2 2024 + Net salesQ1 2024 + Net salesQ4 2023 + Net salesQ3 2023) ÷ No. shares of common stock outstanding
= ( + + + ) ÷ =

3 Closing price as at the filing date of Johnson Controls International plc Quarterly or Annual Report.

4 Q2 2024 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =

5 Click competitor name to see calculations.


The share price exhibited notable fluctuations over the observed period. Initially, the price declined from $39.53 at the end of 2017 to a low of $27.86 in March 2020, indicating a downward trend possibly influenced by external market conditions. Following this trough, a recovery and upward trajectory ensued, with the share price climbing to a peak of $78.33 by September 2021. Thereafter, the price experienced moderate declines and volatility, settling at $60.47 by the end of the first quarter of 2024.

Sales per share data, available from December 2018 onward, showed a mostly steady increase over time. From $33.98 in December 2018, sales per share generally trended upward, reaching $39.83 by March 2024. This consistent growth suggests improving revenue generation capabilities on a per-share basis, reflecting positively on the company's operational performance.

The price-to-sales (P/S) ratio presents an evolving valuation perspective. Initially, in late 2018, the ratio hovered around 1.0, indicating the market price was roughly equivalent to sales per share. The ratio increased significantly, peaking at 2.33 in September 2021, coinciding with the share price peak and suggesting heightened investor confidence or expectations relative to sales. Subsequent to this peak, the P/S ratio declined and fluctuated between 1.37 and 1.80, stabilizing at about 1.52 by the first quarter of 2024. This moderation may reflect market adjustments to valuation or changing investor sentiment.

Share Price Trend
Marked initial decline until early 2020, followed by strong recovery through late 2021, then moderate volatility and stabilization around $60 by early 2024.
Sales per Share
Consistent upward trend from late 2018 through early 2024, indicating improving revenue generation per share.
Price-to-Sales Ratio
Gradual rise from unity to above 2.3 by late 2021, corresponding with peak share prices, then a decline and stabilization in the 1.3 to 1.8 range thereafter.

Overall, the data reflects a company that experienced a significant market valuation downturn followed by a recovery phase, paralleled by steady sales growth. The high P/S ratio period aligns with peak investor optimism, while recent ratios suggest a more tempered valuation approach despite ongoing sales improvements.


Price to Book Value (P/BV)

Johnson Controls International plc, historical P/BV calculation (quarterly data)

Microsoft Excel
Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017
No. shares of common stock outstanding1
Selected Financial Data (US$)
Shareholders’ equity attributable to Johnson Controls (in millions)
Book value per share (BVPS)2
Share price1, 3
Valuation Ratio
P/BV ratio4
Benchmarks
P/BV Ratio, Competitors5
Boeing Co.
Caterpillar Inc.
Eaton Corp. plc
GE Aerospace
Honeywell International Inc.
Lockheed Martin Corp.
RTX Corp.

Based on: 10-Q (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-K (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-K (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-K (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-K (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31).

1 Data adjusted for splits and stock dividends.

2 Q2 2024 Calculation
BVPS = Shareholders’ equity attributable to Johnson Controls ÷ No. shares of common stock outstanding
= ÷ =

3 Closing price as at the filing date of Johnson Controls International plc Quarterly or Annual Report.

4 Q2 2024 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =

5 Click competitor name to see calculations.


Share Price Trends
The share price experienced fluctuations over the analyzed quarters. Starting from 39.53 USD at the end of 2017, the price declined to a low point around March 2020 at 27.86 USD. After this low, a notable recovery and upward trend emerged, reaching a peak of 78.33 USD by the third quarter of 2021. The price then exhibited volatility, with declines and subsequent rises, ending at 60.47 USD in the first quarter of 2024.
Book Value per Share (BVPS) Movements
The book value per share remained relatively stable throughout the periods. Initial values around 22 USD fluctuated mildly, peaking modestly near 25.62 USD in third quarter 2019 but generally oscillating in a narrow band between 22 and 25 USD. In the more recent quarters, BVPS demonstrated a slight declining trend towards 23.24 USD by the first quarter of 2024.
Price-to-Book Value Ratio (P/BV) Behavior
The P/BV ratio showed considerable variation, reflecting changes in the market's valuation relative to book value. It started at 1.78, fell to a trough of 1.15 by March 2020, indicating a period where the share price was closer to the book value. Following this low, the ratio surged significantly, reaching over 3.14 in the third quarter of 2021, indicating elevated market confidence or valuation. Subsequently, the ratio decreased and fluctuated around levels between 2.2 and 2.8, settling near 2.6 in early 2024.
Overall Insights
The data reveals an initial period of price softness culminating in early 2020's low points for share price and P/BV ratio, which likely aligns with broader market conditions. The recovery and peak in late 2021 suggest positive investor sentiment or improved company performance during that period, despite relatively stable book values. The subsequent volatility in price and valuation ratios implies adjustments in market expectations or external factors impacting stock perception. Throughout, the book value per share exhibited relative stability, indicating consistent value in the company's net assets despite market fluctuations.