# Johnson Controls International plc (JCI) — Stock CV

Johnson Controls International plc is a $95.4B industrial company. Revenue grew 24.5% over the last year, it keeps 14¢ of every dollar of sales as profit, and its net debt equals ~2.8 years of free cash flow. It trades at 26.6× earnings — in the cheapest third of its own history.

> Following Johnson Controls' divestiture of its residential and light commercial HVAC businesses to Bosch in 2025, nearly all of its revenue comes from commercial HVAC (60%) and fire and security products and services (40%).

## Identity

- **Ticker**: JCI
- **Sector**: Industrials
- **Industry**: Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip
- **Headquarters**: CORK, L2
- **Employees**: 87 000
- **Website**: https://www.johnsoncontrols.com
- **Market cap**: $95.4B
- **Last price**: $157.43
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $25.0B
- **Net income**: $3.58B
- **Free cash flow**: $3.17B
- **Net debt**: $8.94B
- **P/E**: 26.6
- **Revenue growth (YoY)**: 24.5%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 62 |
| Growth | 57 |
| Profitability | 77 |
| Health | 36 |
| Quality | 87 |
| Moat | 36 |

## Qualifications (beginner checklist) — 10 of 11 passed

- [x] Revenue growing — +24.5% YoY
- [x] Profitable — $3.58B TTM
- [x] Profit growing — +31.9% YoY
- [x] Generates cash — $3.17B TTM
- [x] Debt under control — ~2.8y of cash flow to repay
- [x] Established company — $95.4B market cap
- [x] Not printing shares — -8.7% shares over ~5y
- [x] Proven track record — 9/10 profitable years
- [ ] Financially stable — health score 24/100
- [x] Pays a dividend — yield 1.02%
- [x] Valuation not extreme — P/E 26.6

## Experience (career milestones)

- **2021** — Johnson Controls completed the acquisition of Silent-Aire, a Canadian firm that specialized in data…
- **FY2019** — Best year on record: $5.67B net income
- **FY2018** — Positive free cash flow every year since: 8-year streak
- **FY2017** — Turned profitable: $1.61B net income after a loss year
- **2017** — It was announced that Scott Safety, its safety gear business, would be bought by 3M for $2 billion
- **FY2016** — Revenue already above $10B: $37.7B in first reported year
- **2016** — The company was formed via the merger of American company Johnson Controls with Tyco International, announced on 25…
- **2016** — The former Johnson Controls Automotive Experience division was spun off as a separate, publicly…
- **2015** — CBRE, Inc. purchased the Global Workplace Solutions business unit, retaining the name "Global…
- **1989** — Johnson acquired Pan Am World Services, which provides facilities management for airports, military bases…
- **1985** — Johnson Controls acquired automotive seating companies Hoover Universal and Ferro Manufacturing
- **1978** — Johnson Controls acquired the battery company Globe-Union
- **1974** — The company was renamed Johnson Controls in 1974
- **1970** — The company took over clock manufacturer Standard Electric Time Company

## Strengths

- High gross margin (43.4%)
- Revenue growing 24.5% year over year
- Interest covered 7.7× by operating earnings
- High returns on invested capital (ROIC 15.1%)

## Watch-outs

- Loss-making in 1 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $23.7B | $1.64B | $2.00B |
| FY2022 | $25.3B | $1.53B | $1.40B |
| FY2023 | $26.8B | $1.85B | $1.68B |
| FY2024 | $23.0B | $1.71B | $1.07B |
| FY2025 | $23.6B | $3.29B | $2.12B |

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Source: https://stockcv.com/JCI — derived from company filings; may be delayed or incomplete. Information, not investment advice.