# Johnson Controls International plc (JCI)

> Source: Nexqual · https://nexqual.com/JCI · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Johnson Controls International plc (JCI), nexqual.com/JCI" · informational, not investment advice.

**Price:** USD 143 (-5.31% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 151.02 · day 140.9–149 · 52w 108.41–160.41 · market cap $86.6B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $25.0B, net income $3.58B (14.3% margin), free cash flow $3.17B (SEC filings).
- Valuation: P/E 24.2x (avg 24.2x at the last 3 fiscal year-ends), net debt $8.52B.
- 2 of 80 tracked superinvestors hold JCI (13F, Q2 2026): 0 new, 0 added, 2 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 5 Form 4 filings, $17.5M; 5 not under a Rule 10b5-1 plan ($17.5M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Hold (mean 2.59 on a 1–5 scale) (22 analysts), mean target USD 168.5 (range 129–193).
- Total return with dividends: 1Y +30.5% vs S&P 500 +14.9%; 5Y +112.3% vs S&P 500 +80.3%.
- Next earnings: 2026-10-27, EPS estimate USD 1.56, revenue estimate $7.00B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $23.7B | $20.6B | $22.3B | $23.0B | $23.6B | $25.0B |
| Gross profit | $8.06B | $7.09B | $7.80B | $8.08B | $8.59B | — |
| Net income | $1.64B | $1.53B | $1.85B | $1.71B | $3.29B | $3.58B |
| EPS (diluted) | $2.27 | $2.19 | $2.69 | $2.52 | $5.03 | — |
| Free cash flow | $2.00B | $750M | $1.41B | $1.07B | $2.12B | $3.17B |
| Gross margin | 34.1% | 34.4% | 34.9% | 35.2% | 36.4% | — |
| Net margin | 6.9% | 7.4% | 8.3% | 7.4% | 13.9% | 14.3% |
| Revenue growth | +6.1% | -12.8% | +8.2% | +2.8% | +2.8% | — |
| Cash + short-term investments | $1.34B | $2.03B | $828M | $606M | $379M | — |
| Total debt | $7.76B | $8.32B | $8.82B | $9.52B | $9.92B | — |
Fiscal years end Sep. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 24.2x · P/S 3.5x · EV/Sales 3.8x · P/FCF 27.4x · P/B 6.4x · FCF yield 3.66% · Earnings yield 4.13% · Dividend yield (paid, TTM) 1.13% · Buyback yield (TTM) 6.78% · Net debt $8.52B · EV $95.1B
P/E at fiscal year-ends: Sep 2025 21.9x, Sep 2024 30.8x, Sep 2023 19.8x.

## Superinvestors (SEC 13F-HR, Q2 2026)
2 of 80 tracked investors hold JCI. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Dodge & Cox Funds | Dodge & Cox | 4.27% | $8.15B | Reduced -3.0% |
| Christopher Davis | Davis Advisors | 0.09% | $20.7M | Reduced -27.1% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 5 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-19 | Cohade Pierre E | Director | 3,300 | $488K | 23.4% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-08-04 | Schlitz Lei Zhang | VP & Pres, GP & Solutions | 23,417 | $3.6M | 60.9% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-06-09 | Grabowski Todd M | VP and President, Americas | 1,800 | $263K | 6.1% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-14 | Grabowski Todd M | VP and President, Americas | 4,274 | $622K | 12.7% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-08 | Schlitz Lei Zhang | VP & Pres, GP & Solutions | 88,809 | $12.5M | 60.9% | No | Too little history (no open-market trades in 2023 or 2024) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Hold (mean 2.59 on a 1–5 scale), 22 analysts; mean target USD 168.5 (low 129, high 193).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-15 | Mizuho | Target raised | Neutral | $150 → $165 |
| 2026-10-14 | RBC Capital | Target raised | Sector Perform | $161 → $165 |
| 2026-10-12 | Citigroup | Target raised | Neutral | $157 → $170 |
| 2026-10-08 | B of A Securities | Target raised | Buy | $152 → $175 |
| 2026-09-25 | Wells Fargo | Initiated | Overweight | $186 |
| 2026-09-02 | Morgan Stanley | Target raised | Overweight | $175 → $180 |
| 2026-08-14 | Bernstein | Target raised | Outperform | $173 → $190 |
| 2026-07-30 | Citigroup | Target raised | Neutral | $155 → $157 |
| 2026-07-30 | RBC Capital | Target raised | Sector Perform | $154 → $161 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +30.5% | +112.3% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +30.6% | +16.2% |
| Volatility (annualized) | 31.2% | 28.7% |
| Max drawdown | -12.7% (Mar 2026→Mar 2026) | -41.6% (Dec 2021→Jul 2022) |

## Peers (Building Products & Equipment)
TT (Trane Technologies plc) USD 448.8 -4.80% · CARR (Carrier Global Corporation) USD 56.48 +0.02% · MAS (Masco Corporation) USD 78.05 +4.68% · CSL (Carlisle Companies Incorporated) USD 352.6 +3.68% · LII (Lennox International, Inc.) USD 378.72 +3.37% · MAIR (Madison Air Solutions Corporati) USD 23.08 -0.60%

## More
Full page: https://nexqual.com/JCI · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in JCI's own 10-K filed 2025-11-14 (https://www.sec.gov/Archives/edgar/data/833444/000083344425000097/jci-20250930.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Competitor | Vertiv (VRT) | "Vertiv Holdings Co., API Group and Daikin Industries, Ltd. In addition, the Company competes in a highly fragmented building services market." |

Other companies that name JCI in their own reports (relationship from JCI's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| customer | Mueller Water Products, Inc. (MWA) | 10-K 2025-11-19 | "We rely on successors to Tyco to indemnify us for certain liabilities and they may become financially unable or fail to comply with the terms of the indemnity." |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Americas | $4.50B | 68.1% | +11.4% |
| EMEA | $1.26B | 19.1% | -0.7% |
| APAC | $846.0M | 12.8% | +14.8% |
| Total revenue | $6.61B | 100% | — |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Products and systems | $4.60B | 69.5% | +11.5% |
| Services | $2.02B | 30.5% | +4.6% |
| Total revenue | $6.61B | 100% | — |

## Revenue by region (fiscal year ended 2025-09-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $13.30B | 56.4% | +1.0% |
| Non Us | $10.29B | 43.6% | +5.2% |
| Total revenue | $23.60B | 100% | — |

## Company outlook (8-K filed 2026-07-29)

- "Guidance ______________________________________________________________________________________ ▪ Q3 sales increased 9% and organic sales increased 10% * ▪ Q3 GAAP EPS of $1.23;"
- "Our third-quarter performance and continued momentum give us confidence in our raised full-year outlook." FISCAL Q3 SEGMENT RESULTS The financial highlights presented in the tables below exclude discontinued operations and are in accordance with GAAP, unless otherwise indicated."
- "Orders prior to Q1 2026 exclude certain equipment-only sales for longer cycle projects."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $1.56 | $1.52 | +2.6% | $7.00B | 19 |
| Next quarter (ends 2026-12-31) | $1.13 | $1.09 | +3.4% | $6.29B | 9 |
| Current fiscal year (ends 2026-09-30) | $5.07 | $4.90 | +3.5% | $25.57B | 21 |
| Next fiscal year (ends 2027-09-30) | $6.13 | $5.76 | +6.3% | $27.71B | 22 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-10-30 (includes earnings 2026-10-27): ±7.1%; last 8 reports averaged ±7%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-10-30 | 7 | 59.8% | ±7.1% |
| 2026-11-06 | 14 | 46.1% | ±7.5% |
| 2026-11-13 | 21 | 39.7% | ±7.9% |
| 2026-11-20 | 28 | 40.2% | ±9.1% |
| 2026-11-27 | 35 | 38.7% | ±9.7% |
| 2026-12-04 | 42 | 37.4% | ±10.2% |
| 2026-12-18 | 56 | 35.4% | ±11.2% |
| 2027-01-15 | 84 | 35.3% | ±13.6% |