Cash flow Jones Lang LaSalle Incorporated

Equities

JLL

US48020Q1076

Real Estate Services

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354.58 ^USD	+2.96%		+4.36%	+5.38%

Jan. 16	Saks Global leans on real estate to keep doors open during bankruptcy (Jan 14)	RE
Jan. 15	Australia's Retail Rental Growth Outlook Downgraded, Says Jefferies	MT

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Published financial data: JONES LANG LASALLE INCORPORATED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	8.9B	11.05B	20.86B	20.76B	23.43B
Total Revenues	8.9B	11.05B	20.86B	20.76B	23.43B
Cost of Goods Sold, Total	2.7B	2.88B	9.65B	10.07B	11.29B
Gross Profit	6.2B	8.17B	11.21B	10.69B	12.14B
Selling General & Admin Expenses, Total	5.27B	6.82B	10.01B	9.77B	10.99B
Depreciation & Amortization - (IS)	226M	218M	228M	238M	256M
Other Operating Expenses	0	0	-	-	-
Other Operating Expenses, Total	5.5B	7.04B	10.24B	10.01B	11.25B
Operating Income	698M	1.12B	973M	677M	891M
Interest Expense, Total	-52.8M	-40.1M	-75.2M	-135M	-137M
Net Interest Expenses	-52.8M	-40.1M	-75.2M	-135M	-137M
Income (Loss) On Equity Invest.	8M	209M	51M	-194M	-70.8M
Other Non Operating Income (Expenses)	9.3M	14.7M	8M	4.9M	18.9M
EBT, Excl. Unusual Items	662M	1.31B	957M	353M	702M
Restructuring Charges	-81.3M	-84.7M	-105M	-101M	-23.1M
Merger & Related Restructuring Charges	-75.9M	-	-	-	-
Gain (Loss) On Sale Of Investments	9.8M	-	142M	-	-
Asset Writedown	-	-	-	-	-
Other Unusual Items	14.8M	-	-	-	-
EBT, Incl. Unusual Items	530M	1.22B	994M	252M	679M
Income Tax Expense	107M	264M	201M	25.7M	132M
Earnings From Continuing Operations	423M	959M	793M	226M	547M
Net Income to Company	423M	959M	793M	226M	547M
Minority Interest	-20.2M	2.3M	-139M	-800K	-
Net Income - (IS)	402M	962M	654M	225M	547M
Preferred Dividend and Other Adjustments	-	-	-	-	-
Net Income to Common Incl Extra Items	402M	962M	654M	225M	547M
Net Income to Common Excl. Extra Items	402M	962M	654M	225M	547M
Per Share Items
Net EPS - Basic	7.79	18.89	13.51	4.73	11.51
Basic EPS - Continuing Operations	7.79	18.89	13.51	4.73	11.51
Basic Weighted Average Shares Outstanding	51.68M	50.92M	48.45M	47.63M	47.49M
Net EPS - Diluted	7.7	18.47	13.27	4.67	11.3
Diluted EPS - Continuing Operations	7.7	18.47	13.27	4.67	11.3
Diluted Weighted Average Shares Outstanding	52.28M	52.07M	49.34M	48.29M	48.37M
Normalized Basic EPS	7.62	16.1	9.47	4.61	9.24
Normalized Diluted EPS	7.53	15.75	9.3	4.55	9.08
Dividend Per Share	-	-	-	-	-
Payout Ratio	-	-	-	-	-
Supplemental Items
EBITDA	1.02B	1.45B	1.32B	1.02B	1.25B
EBITA	846M	1.28B	1.16B	855M	1.06B
EBIT	698M	1.12B	973M	677M	891M
EBITDAR	1.24B	1.67B	1.54B	1.26B	1.49B
Total Revenues (As Reported)	16.59B	19.37B	-	-	-
Effective Tax Rate - (Ratio)	20.18	21.6	20.2	10.2	19.51
Current Domestic Taxes	28.9M	130M	111M	122M	46.9M
Current Foreign Taxes	104M	156M	136M	161M	121M
Total Current Taxes	133M	286M	247M	283M	168M
Deferred Domestic Taxes	4M	40.9M	-3.7M	-215M	-28.4M
Deferred Foreign Taxes	-29.7M	-62.3M	-42.7M	-42.3M	-6.7M
Total Deferred Taxes	-25.7M	-21.4M	-46.4M	-257M	-35.1M
Normalized Net Income	394M	820M	459M	220M	439M
Non-Cash Pension Expense	-	-	-	-	-
Supplemental Operating Expense Items
Net Rental Expense, Total	223M	226M	224M	232M	242M
Imputed Operating Lease Interest Expense	32.36M	25.31M	46.75M	80.06M	86.89M
Imputed Operating Lease Depreciation	191M	201M	178M	152M	155M
Stock-Based Comp., SG&A Exp. (Total)	10.8M	62.3M	79.7M	74.9M	95.1M
Stock-Based Comp., Other (Total)	73M	34.1M	6.1M	3.4M	2.3M
Total Stock-Based Compensation	83.8M	96.4M	85.8M	78.3M	97.4M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	574M	594M	519M	410M	416M
Total Cash And Short Term Investments	574M	594M	519M	410M	416M
Accounts Receivable, Total	1.9B	2.35B	2.51B	2.43B	2.49B
Other Receivables	1.46B	1.73B	2.01B	2.32B	2.7B
Notes Receivable	470M	389M	470M	446M	457M
Total Receivables	3.83B	4.47B	4.98B	5.2B	5.64B
Prepaid Expenses	151M	192M	187M	186M	254M
Loans Held For Sale	1.53B	822M	463M	677M	771M
Deferred Tax Assets Current	-	-	-	-	-
Restricted Cash	266M	248M	227M	253M	236M
Other Current Assets, Total	100M	60.4M	190M	128M	161M
Total Current Assets	6.45B	6.39B	6.57B	6.86B	7.48B
Gross Property Plant And Equipment	2.18B	2.37B	2.32B	2.38B	2.5B
Accumulated Depreciation	-806M	-909M	-960M	-1.04B	-1.16B
Net Property Plant And Equipment	1.37B	1.46B	1.36B	1.34B	1.34B
Long-term Investments	431M	746M	874M	817M	813M
Goodwill	4.22B	4.61B	4.53B	4.59B	4.61B
Other Intangibles, Total	680M	887M	858M	785M	724M
Accounts Receivable Long-Term	79.9M	92.8M	-	62.2M	49.6M
Deferred Tax Assets Long-Term	296M	331M	380M	497M	518M
Other Long-Term Assets, Total	780M	986M	1.02B	1.11B	1.23B
Total Assets	14.32B	15.5B	15.59B	16.06B	16.76B
Liabilities
Accounts Payable, Total	1.23B	1.26B	1.24B	1.41B	1.32B
Accrued Expenses, Total	1.43B	2.03B	1.75B	1.7B	1.77B
Short-term Borrowings	1.56B	938M	620M	811M	1.19B
Current Portion of Long-Term Debt	-	275M	-	-	-
Current Portion of Leases	171M	160M	156M	162M	157M
Unearned Revenue Current, Total	193M	208M	216M	226M	204M
Deferred Tax Liability Current	-	-	-	-	-
Other Current Liabilities	1.55B	1.61B	1.93B	2.14B	2.5B
Total Current Liabilities	6.13B	6.49B	5.91B	6.45B	7.14B
Long-Term Debt	693M	534M	1.59B	1.39B	845M
Long-Term Leases	692M	724M	789M	774M	777M
Pension & Other Post Retirement Benefits	-	-	-	-	2M
Deferred Tax Liability Non Current	120M	180M	194M	44.8M	45.6M
Other Non Current Liabilities	1.07B	1.16B	962M	1B	1.05B
Total Liabilities	8.7B	9.08B	9.44B	9.65B	9.87B
Common Stock, Total	500K	500K	500K	500K	500K
Additional Paid In Capital	2.02B	2.05B	2.02B	2.02B	2.03B
Retained Earnings	3.98B	4.94B	5.59B	5.8B	6.33B
Treasury Stock	-96.1M	-406M	-935M	-920M	-938M
Comprehensive Income and Other	-383M	-401M	-658M	-602M	-659M
Total Common Equity	5.52B	6.18B	6.02B	6.29B	6.77B
Minority Interest	97M	236M	129M	116M	124M
Total Equity	5.62B	6.42B	6.15B	6.41B	6.9B
Total Liabilities And Equity	14.32B	15.5B	15.59B	16.06B	16.76B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	51.11M	49.89M	47.6M	47.44M	47.39M
ECS Total Common Shares Outstanding	51.11M	50.02M	47.51M	47.51M	47.42M
Book Value / Share	108.03	123.64	126.74	132.47	142.81
Tangible Book Value	616M	686M	634M	921M	1.44B
Tangible Book Value Per Share	12.06	13.72	13.35	19.39	30.29
Total Debt	3.11B	2.63B	3.15B	3.14B	2.97B
Net Debt	2.54B	2.04B	2.63B	2.73B	2.56B
Debt Equivalent of Unfunded Proj. Benefit Obligation	-11.1M	-63.8M	-30M	-37.9M	-40.8M
Debt Equivalent Oper. Leases	1.79B	1.81B	1.79B	1.86B	1.93B
Minority Interest, Total (Incl. Fin. Div)	97M	236M	129M	116M	124M
Equity Method Investments, Total	90.5M	106M	78.9M	75.8M	70.7M
Account Code - Inventory Valuation	3	3	-	3	3
Machinery, Total	958M	1.02B	1.07B	1.13B	1.22B
Full Time Employees	91K	98.2K	103K	106K	112K
Accumulated Allowance for Doubtful Accounts (Supple)	66.5M	67.6M	66.7M	70.7M	60.8M

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	402M	962M	654M	225M	547M
Depreciation & Amortization - CF	169M	164M	158M	168M	190M
Amortization of Goodwill and Intangible Assets - (CF)	148M	160M	185M	178M	168M
Depreciation & Amortization, Total	318M	324M	343M	346M	358M
Amortization of Deferred Charges, Total - (CF)	-	-	-	-	-
(Gain) Loss From Sale Of Asset	1.2M	-10.9M	-134M	500K	-
(Income) Loss On Equity Investments - (CF)	3.7M	-181M	-29.8M	206M	88.5M
Stock-Based Compensation (CF)	83.8M	96.4M	85.8M	78.3M	97.4M
Provision and Write-off of Bad Debts	45.6M	12.1M	27M	20.3M	38M
Other Operating Activities, Total	-160M	-178M	24.1M	-66.9M	-78.4M
Change In Accounts Receivable	414M	-402M	-319M	11.1M	-208M
Change In Accounts Payable	177M	-11.6M	-115M	78.5M	36.2M
Change In Income Taxes	-	-	-	-139M	-138M
Change In Deferred Taxes	-37.1M	-400K	-40.5M	-	-
Change in Other Net Operating Assets	-134M	362M	-296M	-185M	44.3M
Cash from Operations	1.11B	972M	200M	576M	785M
Capital Expenditure	-149M	-176M	-206M	-187M	-186M
Sale of Property, Plant, and Equipment	-	-	-	-	-
Cash Acquisitions	-	-417M	-5.7M	-13.6M	-57.2M
Sale (Purchase) of Real Estate properties	1M	-70.9M	135M	-	-
Investment in Marketable and Equity Securities, Total	-38.8M	-107M	-143M	-85.7M	-69.4M
Other Investing Activities, Total	16.6M	-35.1M	-23.5M	-4.2M	-4.7M
Cash from Investing	-171M	-806M	-243M	-290M	-317M
Short Term Debt Issued, Total	-	91.8M	20.1M	-	913M
Long-Term Debt Issued, Total	5.22B	5.09B	7.56B	8.08B	8.04B
Total Debt Issued	5.22B	5.19B	7.58B	8.08B	8.96B
Short Term Debt Repaid, Total	-64.3M	-	-	-24.8M	-710M
Long-Term Debt Repaid, Total	-5.74B	-4.94B	-6.76B	-8.28B	-8.57B
Total Debt Repaid	-5.81B	-4.94B	-6.76B	-8.31B	-9.28B
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-124M	-396M	-688M	-92.2M	-112M
Common Dividends Paid	-	-	-	-	-
Common & Preferred Stock Dividends Paid	-	-	-	-	-
Other Financing Activities, Total	-58.4M	10.2M	-145M	-57.3M	-16.6M
Cash from Financing	-771M	-144M	-13.1M	-374M	-451M
Foreign Exchange Rate Adjustments	14.8M	-21M	-39.3M	6.3M	-28M
Net Change in Cash	188M	1.8M	-95.6M	-82.6M	-10.7M
Supplemental Items
Cash Interest Paid	50.2M	38.8M	74.3M	145M	147M
Cash Income Tax Paid (Refund)	138M	262M	321M	158M	285M
Levered Free Cash Flow	-107M	1.72B	549M	517M	446M
Unlevered Free Cash Flow	-73.84M	1.75B	596M	602M	531M
Change In Net Working Capital	762M	-798M	235M	59.2M	296M
Net Debt Issued / Repaid	-589M	242M	820M	-225M	-322M

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	3.12	4.71	3.91	2.67	3.39
Return on Total Capital	5.23	7.91	6.63	4.49	5.74
Return On Equity %	7.81	15.94	12.62	3.6	8.22
Return on Common Equity	7.57	16.43	10.72	3.66	8.37
Margin Analysis
Gross Profit Margin %	69.62	73.93	53.74	51.47	51.81
SG&A Margin	59.24	61.78	47.99	47.06	46.92
EBITDA Margin %	11.41	13.11	6.31	4.93	5.33
EBITA Margin %	9.5	11.63	5.55	4.12	4.52
EBIT Margin %	7.84	10.18	4.66	3.26	3.8
Income From Continuing Operations Margin %	4.75	8.68	3.8	1.09	2.33
Net Income Margin %	4.52	8.71	3.14	1.09	2.33
Net Avail. For Common Margin %	4.52	8.71	3.14	1.09	2.33
Normalized Net Income Margin	4.42	7.42	2.2	1.06	1.87
Levered Free Cash Flow Margin	-1.2	15.58	2.63	2.49	1.9
Unlevered Free Cash Flow Margin	-0.83	15.8	2.86	2.9	2.27
Asset Turnover
Asset Turnover	0.64	0.74	1.34	1.31	1.43
Fixed Assets Turnover	6.19	7.79	14.78	15.36	17.45
Receivables Turnover (Average Receivables)	4.17	5.2	8.59	8.4	9.52
Short Term Liquidity
Current Ratio	1.05	0.98	1.11	1.06	1.05
Quick Ratio	0.64	0.72	0.85	0.8	0.78
Operating Cash Flow to Current Liabilities	0.18	0.15	0.03	0.09	0.11
Days Sales Outstanding (Average Receivables)	87.79	70.21	42.48	43.45	38.44
Average Days Payable Outstanding	170.53	157.95	47.27	47.89	44.24
Long Term Solvency
Total Debt/Equity	55.39	40.95	51.25	48.93	43.12
Total Debt / Total Capital	35.65	29.05	33.89	32.86	30.13
LT Debt/Equity	24.67	19.58	38.64	33.76	23.52
Long-Term Debt / Total Capital	15.87	13.89	25.54	22.67	16.44
Total Liabilities / Total Assets	60.76	58.59	60.56	60.1	58.87
EBIT / Interest Expense	13.21	28.04	12.94	5	6.51
EBITDA / Interest Expense	23.46	41.76	20.48	9.27	10.89
(EBITDA - Capex) / Interest Expense	20.63	37.38	17.74	7.89	9.53
Total Debt / EBITDA	2.51	1.57	2.05	2.5	1.99
Net Debt / EBITDA	2.05	1.22	1.71	2.17	1.72
Total Debt / (EBITDA - Capex)	2.86	1.75	2.36	2.94	2.28
Net Debt / (EBITDA - Capex)	2.33	1.36	1.97	2.55	1.96
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-11.27	24.11	7.72	-0.49	12.87
Gross Profit, 1 Yr. Growth %	-10.39	31.77	3.04	-4.69	13.62
EBITDA, 1 Yr. Growth %	-12.72	42.68	-9.43	-22.21	23.28
EBITA, 1 Yr. Growth %	-15.87	51.81	-10.12	-26.16	25.42
EBIT, 1 Yr. Growth %	-22.11	61.14	-13.77	-30.39	31.6
Earnings From Cont. Operations, 1 Yr. Growth %	-21.42	126.95	-17.29	-71.49	141.73
Net Income, 1 Yr. Growth %	-24.81	138.91	-31.94	-65.56	142.59
Normalized Net Income, 1 Yr. Growth %	-28.25	108.29	-44.02	-52.17	99.93
Diluted EPS Before Extra, 1 Yr. Growth %	-29.16	139.87	-28.15	-64.81	141.97
Accounts Receivable, 1 Yr. Growth %	-19.67	23.41	6.87	-2.97	2.23
Net Property, Plant and Equip., 1 Yr. Growth %	-8.96	6.72	-7.12	-1.06	-0.27
Total Assets, 1 Yr. Growth %	4.71	8.3	0.57	3.02	4.35
Tangible Book Value, 1 Yr. Growth %	130.56	11.36	-7.56	45.24	55.86
Common Equity, 1 Yr. Growth %	7.87	12.03	-2.65	4.53	7.59
Cash From Operations, 1 Yr. Growth %	130.41	-12.77	-79.44	188.04	36.38
Capital Expenditures, 1 Yr. Growth %	-20.45	17.74	17	-9.18	-0.75
Levered Free Cash Flow, 1 Yr. Growth %	-138.35	-1.71K	-68.13	-5.85	-12.07
Unlevered Free Cash Flow, 1 Yr. Growth %	-123.53	-2.46K	-65.9	0.92	-10.19
Dividend Per Share, 1 Yr. Growth %	-	-	-	-	-
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-1.05	4.94	12.14	3.54	5.98
Gross Profit, 2 Yr. CAGR %	0.47	8.67	13.94	-0.9	4.06
EBITDA, 2 Yr. CAGR %	4.38	14.64	19.07	-12.8	1.99
EBITA, 2 Yr. CAGR %	6.51	19.47	28.46	-12.95	4.37
EBIT, 2 Yr. CAGR %	-3.27	11.78	17.77	-22.52	-4.29
Earnings From Cont. Operations, 2 Yr. CAGR %	-7.28	33.54	37	-51.44	-16.98
Net Income, 2 Yr. CAGR %	-8.85	34.03	27.52	-51.59	-8.6
Normalized Net Income, 2 Yr. CAGR %	-7.19	22.25	7.98	-48.25	-2.21
Diluted EPS Before Extra, 2 Yr. CAGR %	-14.53	30.35	31.28	-49.72	-7.72
Accounts Receivable, 2 Yr. CAGR %	-6.35	-0.43	14.85	1.83	-0.4
Net Property, Plant and Equip., 2 Yr. CAGR %	55.39	-1.43	-0.44	-4.14	-0.66
Total Assets, 2 Yr. CAGR %	19.5	6.49	4.37	1.79	3.68
Tangible Book Value, 2 Yr. CAGR %	-3.13	60.24	1.46	15.87	50.46
Common Equity, 2 Yr. CAGR %	22.29	9.93	4.43	0.88	6.05
Cash From Operations, 2 Yr. CAGR %	35.84	41.77	-57.65	-23.05	98.2
Capital Expenditures, 2 Yr. CAGR %	-3.94	-3.22	17.37	3.08	-5.06
Levered Free Cash Flow, 2 Yr. CAGR %	-54.55	182.14	67.56	-43.44	1.79
Unlevered Free Cash Flow, 2 Yr. CAGR %	-63.33	163.51	91.49	-39.46	5.52
Dividend Per Share, 2 Yr. CAGR %	-	-	-	-	-
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	3.76	6.71	27.65	7.76	6.56
Gross Profit, 3 Yr. CAGR %	4.91	9.98	17.48	7.36	3.72
EBITDA, 3 Yr. CAGR %	10.93	15.84	6.07	3.32	-2.45
EBITA, 3 Yr. CAGR %	13.63	19.86	8.76	6.81	-2.07
EBIT, 3 Yr. CAGR %	6.56	14.67	2.64	-1.17	-7.56
Earnings From Cont. Operations, 3 Yr. CAGR %	14.78	24.95	13.83	-18.81	-17.09
Net Income, 3 Yr. CAGR %	13.35	25.67	6.93	-17.57	-17.15
Normalized Net Income, 3 Yr. CAGR %	3.9	21.51	-5.77	-17.68	-18.8
Diluted EPS Before Extra, 3 Yr. CAGR %	8.49	20.56	6.88	-15.35	-15.11
Accounts Receivable, 3 Yr. CAGR %	-0.28	2.67	1.94	8.57	1.96
Net Property, Plant and Equip., 3 Yr. CAGR %	36.1	37.1	-3.37	-0.65	-2.86
Total Assets, 3 Yr. CAGR %	15.65	15.64	4.48	3.92	2.64
Tangible Book Value, 3 Yr. CAGR %	23.67	1.48	33.39	14.35	27.91
Common Equity, 3 Yr. CAGR %	18.24	18.77	5.56	4.46	3.07
Cash From Operations, 3 Yr. CAGR %	11.75	17.2	-25.52	-19.76	-6.88
Capital Expenditures, 3 Yr. CAGR %	-0.44	2.8	3.1	7.75	1.79
Levered Free Cash Flow, 3 Yr. CAGR %	-48.11	49.27	36.45	38.27	-34.91
Unlevered Free Cash Flow, 3 Yr. CAGR %	-54.81	47.03	33.35	54.67	-31.34
Dividend Per Share, 3 Yr. CAGR %	-	-	-	-	-
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	8.33	9.83	21.23	17.96	18.49
Gross Profit, 5 Yr. CAGR %	7.9	11.65	15.88	11.73	11.92
EBITDA, 5 Yr. CAGR %	8.6	16.59	12.08	1.89	2.54
EBITA, 5 Yr. CAGR %	8.45	19.34	14.96	2.77	3.33
EBIT, 5 Yr. CAGR %	4.35	16.21	11.03	-1.91	-0.19
Earnings From Cont. Operations, 5 Yr. CAGR %	-1.08	22.63	23.2	-14.38	0.33
Net Income, 5 Yr. CAGR %	-1.71	23.87	18.82	-14.19	0.43
Normalized Net Income, 5 Yr. CAGR %	0.94	20.98	5.52	-13.64	-4.36
Diluted EPS Before Extra, 5 Yr. CAGR %	-4.41	20.63	17.09	-15.02	0.78
Accounts Receivable, 5 Yr. CAGR %	3.63	4.64	5.52	2.34	1
Net Property, Plant and Equip., 5 Yr. CAGR %	26.5	23.91	20.1	18.82	-2.3
Total Assets, 5 Yr. CAGR %	18.27	15.24	11	9.89	4.16
Tangible Book Value, 5 Yr. CAGR %	14	51.99	14.26	7	39.97
Common Equity, 5 Yr. CAGR %	15.48	17.26	12.51	11.26	5.76
Cash From Operations, 5 Yr. CAGR %	24.29	34.3	-24.2	-0.96	10.17
Capital Expenditures, 5 Yr. CAGR %	0.22	-4.04	6.33	2.91	-0.25
Levered Free Cash Flow, 5 Yr. CAGR %	211.89	47.76	-6.41	-0.01	15.58
Unlevered Free Cash Flow, 5 Yr. CAGR %	32.73	51.89	-5.71	1.84	16.15
Dividend Per Share, 5 Yr. CAGR %	-	-	-	-	-