📈 Price History

Ratio Health

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📊 Sector Averages

About

Jones Lang LaSalle Incorporated operates as a commercial real estate and investment management company. It engages in buying, building, occupying, managing, and investing in office, industrial, hotel, multi-family, retail and data center properties in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company also offers agency leasing, tenant representation, property management, advisory, and consulting services; and debt advisory, loan sales and servicing, value and risk advisory, equity and funds placement, merger and acquisition, corporate advisory, and investment sales and advisory services. In addition, it provides on-site real estate management services for office, industrial, retail, multifamily residential, and other properties; cloud-based software solutions; integrated facilities management, space planning, office design, and workplace strategy consulting services; program and project management, implementation and support, managed services, and advisory/consulting services; and investment management services to institutional investors and high-net-worth individuals, as well as designing, building, management, and consulting services to tenants of leased space, owners in self-occupied buildings, and owners of real estate investments. It provides its services to real estate owners, occupiers, investors, and developers for various property types, including critical environments and data centers, offices, industrial and warehouses, residential properties, infrastructure projects, retail and shopping malls, logistics, and military housing and transportation centers; and hotels and hospitality, cultural, educational, government, healthcare and laboratory, and sports facilities. The company was formerly known as LaSalle Partners Incorporated and changed its name to Jones Lang LaSalle Incorporated in March 1999. Jones Lang LaSalle Incorporated was incorporated in 1997 and is headquartered in Chicago, Illinois.

Key Ratios Snapshot

📈 Growth Pattern

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⭐ Superinvestors Holding JLL

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Manager	Shares	Value	% of Fund	Period
Jim Simons Renaissance Technologies LLC	59.8K	$18.2M	0.03%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific → Stable 4 quarters analysed

Q2 2025

Confident Specific

Management used positive language including 'strong results', 'double-digit revenue gains', 'pleased with Q2 outcome', and provided specific figures like 10% revenue growth, 17% EBITDA growth, and a $50 million increase in the low end of full-year EBITDA guidance. They acknowledged macro uncertainty but expressed 'cautious optimism' and highlighted pipeline strength. There was no defensive or evasive language; answers were direct with concrete numbers.

Q3 2025

Confident Specific

Management repeatedly used phrases like 'strong results', 'sixth consecutive quarter of double-digit revenue gain', 'Adjusted EBITDA increased 16%, and Adjusted EPS was up 29%', and 'confident in the trajectory' to convey optimism. They provided specific numbers and forward guidance, including raising the full-year Adjusted EBITDA target by $75 million, indicating high conviction.

Q4 2025

Confident Specific

Management repeatedly highlighted record financials, double-digit growth across revenue, EBITDA, EPS, and free cash flow. They proactively addressed AI risk, asserting minimal disintermediation risk and strong competitive moats from proprietary data and platform. Specific guidance and pipeline details reinforced a positive, data-driven outlook.

Q1 2026 latest

Confident Specific

Management used phrases like 'very strong quarter', 'record levels of first quarter revenue and earnings', and 'robust growth' while providing specific numbers (revenue +11%, adjusted EBITDA +24%, adjusted EPS +56%). They acknowledged 'fluidity of the macro environment' and 'limited late year visibility', balancing confidence with caution.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis is marginally stronger after this call. Q1 delivered record revenue and earnings, validating the Accelerate 2030 strategy and data/AI differentiation. Capital markets and leasing momentum remain strong, supported by solid pipelines. Management's capital allocation, especially the aggressive buyback, signals confidence. Key risks are the Middle East conflict potentially weighing on global economy in H2, and the slow progress on LaSalle capital raising. Next quarter, watch for: updates on lease and capital markets pipelines, progress on property management contract renegotiations, any impact from geopolitical tensions on advisory business, and further LaSalle fund closes.

AI-generated concall tone analysis · Updated 2026-06-08 · Not investment advice

🎙 Management Tone Confident Specific → Stable 4 quarters Full tone analysis in Intelligence →

📊 MIXED JLL reports record Q1 2026 revenue; adjusted EPS up 56%

Revenue & Profitability

Total revenue increased 11% (inclusive of 200bps FX benefit). Adjusted EBITDA rose 24% and adjusted EPS surged 56%. For full year 2026, management targets adjusted EPS of $21.80–$23.50, representing 20% growth at the midpoint. Free cash flow conversion is expected to exceed 80% for the year.

Outlook

Management sees a healthy leasing pipeline and robust capital markets momentum, supported by improving business confidence and constructive GDP growth. However, the ongoing Middle East conflict introduces back-half uncertainty, particularly for energy-dependent economies. The company's guidance reflects a range of scenarios, with first-quarter trends pointing toward the upper end.

Growth Drivers

Key growth drivers include office and industrial leasing acceleration (29% two-year stacked growth), strong capital markets activity (investment sales +27%, debt advisory +30%, equity advisory +75%), and double-digit growth in workplace management and project management. Data center wins in the U.S. and the expansion of LaSalle's new decarbonization fund (Lp3F) and Encore+ European fund are additional growth levers.

Balance Sheet & CapEx

CapEx increased in Q1 partly due to timing; full-year free cash flow conversion target remains above 80%. JLL is investing in its data and AI capabilities, talent, and technology to sustain long-term growth. The company committed EUR 100 million to the LaSalle Encore+ European core fund and previously invested $100 million in a U.S. flagship fund.

Margins

Adjusted EBITDA margins expanded in Q1 due to revenue growth and operating discipline. For full-year 2026, Leasing Advisory margin is expected to be relatively flat as early-year commission tier headwinds moderate. Capital Markets incremental margins are anticipated in the mid-30% range. Overall margin improvement is driven by revenue mix and cost control.

Key Risks

Key risks highlighted include the potential macroeconomic impact of the Middle East conflict, especially in Europe and Asia; commission tier headwinds in Leasing Advisory that could affect margins; and limited late-year visibility into economically sensitive businesses. The property management contract exit program (60% completed) is a near-term headwind, though expected to be offset by growth in the Americas.

Generated by AI · Q1 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q2 2026 Q2 2026 2026-07-30

Q2 2026 saw double-digit revenue growth, 33% higher adjusted EBITDA, and 61% higher adjusted EPS year-over-year, driven by strong U.S. advisory and resilient business lines. Full-year adjusted EPS guidance was raised 34% at the midpoint, with robust free cash flow and continued investment in AI and platform efficiency.

Q1 2026 Q1 2026 2026-04-30

Record Q1 revenue and earnings were driven by strong advisory and resilient revenue streams, with robust growth in leasing and capital markets. Guidance targets 20% EPS growth for 2026, supported by continued investment in AI, capital deployment, and a strong pipeline, though macro risks remain.

Q4 2025 Q4 2025 2026-02-18

Q4 and full-year 2025 saw double-digit revenue and EPS growth, record free cash flow, and margin expansion. Strong leasing, capital markets, and project management performance drove results, with robust pipelines and increased share repurchases planned for 2026.

Q3 2025 Q3 2025 2025-11-05

Double-digit revenue and EPS growth continued, driven by strong transactional and resilient business lines. Margin expansion, robust free cash flow, and increased share repurchases highlight financial strength, while intentional contract exits in Property Management are expected to moderate growth near term.

Q2 2025 Q2 2025 2025-08-06

Double-digit revenue and earnings growth continued, led by resilient business lines and strong capital markets activity. Guidance for full-year adjusted EBITDA was raised, with margin expansion expected to accelerate in the second half. Liquidity and leverage improved, and share repurchases will increase.

📊 Analysis Methodology

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