Jones Lang LaSalle Incorporated (JLL) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Jones Lang LaSalle Incorporated stock $530, price $375, upside +41.2%, quality 68 out of 100. Rating: undervalued. Calculated from audited financials with 14 of our 26 valuation models and 37 quality factors, updated daily.
Keep an eye on it?Free in your watchlist: 5 stocks without an account, 10 with oneYes, for free
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range $121.97 – $392.79 · fair‑value band $282.87 – $901.93 · the $375.25 price screens below the $529.78 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 6, 2026.
Follow Jones Lang LaSalle in your weekly email
Every Wednesday you see whether Jones Lang LaSalle is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
Jones Lang LaSalle Incorporated operates as a commercial real estate and investment management company.
Show moreShow less
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.
Stock analysis
Jones Lang LaSalle Incorporated (JLL) currently trades at $375.25, while our model-based Fair Value estimate is $529.78, implying the stock looks roughly 29% undervalued today.
Show more
Valuation
Bull case: the DCF Models group reads highest at a median of $529.78 per share, and 9 of the 14 models we run sit above the $375.25 price.
Bear case: the Economic Profit group reads lowest at $157.00, and 5 of the 14 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $282.87 (bear) to $901.93 (bull), the price of $375.25 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 68/100 (solid quality), in the Real Estate sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Jones Lang LaSalle Incorporated reported revenue of $26.1B in FY2025 versus $19.4B in FY2021, a compound +7.8%/yr. Reported net income was $792M in FY2025, compounding −4.7%/yr from FY2021.
Key figures
Market cap $17.8B Large · P/E ratio 16.3 · P/S ratio 0.65 · EPS (TTM) $23.06 · Net margin 3.6% · Return on equity 13.5% · Return on assets (EBIT) 5.5% · Operating margin 4.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (medium confidence).
What moves the price
The share trades about 4% below its 52-week high and 34% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −34% fair-value upside, at 41%, JLL screens cheaper than that median.
Fair Value models
Bear$282.87Fair Value $529.78Bull$901.93
Price $375.25 · Upside +41.2%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($19.59 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, 2 officers or directors sold shares worth $4.0M and none bought.
SaleChristian UlbrichCEO & President, Director9× since Nov 25, 2025: 40,000 shares, avg. $342.88$13.7MAug 21, 202610b5-1 plan
SaleLarry QuinlanDirector2× since Jun 5, 2026: 805 shares, avg. $298.43$240,237Jun 12, 202610b5-1 plan
SaleRichard BloxamCEO, Capital Markets Services5,440 shares at $296.94$1.6MMar 24, 202610b5-1 plan
SaleDeborah H McAnenyDirector2,500 shares at $300.50$751,250Mar 10, 202610b5-1 plan
Plus 22 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.80/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+11.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.8%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.5%
Start year 2020 (pandemic). Over 10 years: +15.9% a year
Revenue growth 29 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+19.3%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+8.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+8.5%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.8.5% vs 6.8%, steady
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.3% → 5%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far and about what analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+9.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+8.4%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +6.8% a year for the price and +5.9% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (97 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
AI conclusion: Long-term outsourcing contracts like the extended P&G alliance offer recurring revenue depth, but limited public signals of a durable moat leave the business vulnerable to cyclical capital markets activity.
Main risk: Ongoing antitrust litigation involving RealPage software and alleged price-fixing in property management could result in settlements, fines or required changes to practices that squeeze margins in facilities and property services.
Bull case: JLL could leverage its scale, proprietary data and AI tools like JLL Falcon to strengthen client relationships and expand outcome-based contracts, mitigating legal pressures through demonstrated compliance and efficiency gains.
Bear case: Escalating antitrust or compliance actions could force costly settlements, restrict certain services or damage reputation, eroding the ability to secure long-term outsourcing contracts in facilities management.
JLL has extended its facilities management alliance with Procter & Gamble for five more years, covering millions of square feet across over sixty countries on six continents. The relationship dates back to 2003 and shows how the services side can lock in long-term outsourcing contracts. Our models currently see it as undervalued. Does this recurring revenue depth protect the business better in downturns than its capital markets exposure adds in upswings, or is it the other way around?
Compare Jones Lang LaSalle Incorporated with another stock
Price, fair value, quality and upside side by side.
Free, no sign-up
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Real Estate Services · 475 stocks
Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score68 · Top 25%
Fair Value upside+41.2% · Above median
Profitability
Return on equity (12 months)13.5% · Top 25%
Return on assets4.5% · Above median
Net margin (12 months)3.6% · Below median
Operating margin (12 months)4.6% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)10.8% · Above median
Balance sheet
Debt / equity0.11× · Below median
Valuation Multiplesvs Real Estate Services median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Jones Lang LaSalle Incorporated Fair Value". https://www.fairvalue-calculator.com/stock/JLL
Frequently asked questions
Is Jones Lang LaSalle Incorporated (JLL) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of $529.78 versus a price of $375.25, about +41% upside (undervalued).
What is the fair value of JLL?
Our model-based fair value for Jones Lang LaSalle Incorporated is $529.78 (as of Nov 6, 2026), built from audited fundamentals. The current price: $375.25.
What is the quality score of JLL?
Jones Lang LaSalle Incorporated has a Quality Score of 68/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Jones Lang LaSalle Incorporated (JLL)?
Our model-based price target is the fair value of $529.78 (as of Nov 6, 2026) from 14 valuation models. Cautious scenario $282.87, optimistic scenario $901.93. It is a calculation from audited fundamentals, not an analyst target.
What is the Jones Lang LaSalle Incorporated stock forecast for 2026?
Our models put fair value at $529.78, about +41% upside versus a price of $375.25 (undervalued). Cautious scenario $282.87, optimistic scenario $901.93. The calculation is refreshed regularly with new filings.
What is the revenue of Jones Lang LaSalle Incorporated (JLL)?
Jones Lang LaSalle Incorporated reported trailing-twelve-month revenue of about $27.4B (latest available figure, as of Nov 6, 2026).
What growth is priced into Jones Lang LaSalle Incorporated (JLL)?
For today's price to be fair in a discounted-cash-flow model, Jones Lang LaSalle Incorporated would have to grow free cash flow by +9.4 % per year for five years (discount rate 9.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +9.5 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of JLL use?
Our models discount Jones Lang LaSalle Incorporated at 9.9 %: a base by market capitalisation (large), damped by beta 1.30, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Jones Lang LaSalle Incorporated that is +9.4 % per year a year over ten years, using the same discount rate (9.9 %) and the same formula as our fair value.
How much growth has Jones Lang LaSalle Incorporated (JLL) delivered so far?
Over the past 5 years revenue at Jones Lang LaSalle Incorporated grew +9.5 % a year. The price currently implies +9.4 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Jones Lang LaSalle Incorporated (JLL) growing?
The median revenue growth in the sector is +2.7 % a year. That is the yardstick for the growth priced into Jones Lang LaSalle Incorporated (+9.4 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Jones Lang LaSalle Incorporated (JLL)?
The free-cash-flow yield on the price is 5.50 %: that much free cash flow Jones Lang LaSalle Incorporated produces per unit of market value. When it exceeds the discount rate of our models (9.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Jones Lang LaSalle Incorporated (JLL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Jones Lang LaSalle Incorporated it is $529.78 per share (as of Nov 6, 2026), against a price of $375.25. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Jones Lang LaSalle Incorporated stock overvalued or undervalued in 2026?
As of Nov 6, 2026, JLL trades below its calculated fair value: price $375.25, fair value $529.78, a gap of about +41% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of JLL?
No. The price is what the market pays today ($375.25); the fair value is what the company's own numbers justify ($529.78). For Jones Lang LaSalle Incorporated the two are $154.53 per share apart. That gap is exactly why we show both numbers side by side.
How much is Jones Lang LaSalle Incorporated worth?
The market values Jones Lang LaSalle Incorporated at about $17.8B (market capitalisation, as of Nov 6, 2026). Per share that is $375.25; our models calculate a fair value of $529.78 per share.
What do the bullish and bearish scenarios say about JLL?
Our models span a range for Jones Lang LaSalle Incorporated: cautious scenario $282.87, base $529.78, optimistic $901.93 per share (as of Nov 6, 2026, price $375.25). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of JLL?
Jones Lang LaSalle Incorporated trades at a price-to-earnings ratio of 16.3 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $529.78 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 17.6. Other multiples: PEG 0.6, P/B 2.4, P/S 0.6, EV/EBITDA 10.7.
What is the PEG ratio of JLL?
The PEG ratio of Jones Lang LaSalle Incorporated is 0.62 (P/E divided by earnings growth, as of Nov 6, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Jones Lang LaSalle Incorporated (JLL)?
Balance-sheet figures for Jones Lang LaSalle Incorporated (as of Nov 6, 2026): return on equity 13.5%, debt of 0.11 per unit of equity. They feed the Quality Score of 68/100, which measures business quality independently of the share price.
How far is JLL from its 52-week high?
Jones Lang LaSalle Incorporated trades at $375.25, about 4% below its 52-week high of $392.79 and 34% above the low of $280.16 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of $529.78 is for.
Which stocks are comparable to Jones Lang LaSalle Incorporated?
From the same area (Real Estate) we also value CBRE Group, KE Holdings, Cellnex Telecom, S.A, Swire Properties Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Jones Lang LaSalle Incorporated stock attractive at the current price?
The data as of Nov 6, 2026: price $375.25, calculated fair value $529.78 (+41%), Quality Score 68/100, from 14 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of JLL calculated?
We run Jones Lang LaSalle Incorporated through 14 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $529.78, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. Jones Lang LaSalle Incorporated currently trades 29% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Jones Lang LaSalle Incorporated (JLL)?
The closing price on Nov 5, 2026 was $375.25. Our model-based fair value is $529.78, about +41% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Jones Lang LaSalle Incorporated right now?
The model range is unusually wide ($282.87 to $901.93). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid quality (68/100) at a price below fair value, the discount is the argument here, not the business quality. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Where does the earnings growth of Jones Lang LaSalle Incorporated (JLL) come from?
Earnings per share at Jones Lang LaSalle Incorporated grew +2.8 % a year from 2014 to 2025. Broken into its drivers: revenue per share +15.3 %, EBIT margin −8.1 %, tax rate +0.7 %, residual (interest, one-offs) −3.7 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Jones Lang LaSalle Incorporated
How large is the market capitalisation of Jones Lang LaSalle Incorporated (JLL)?
The market capitalisation of Jones Lang LaSalle Incorporated is $17.8B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Jones Lang LaSalle Incorporated (JLL)?
The price-to-sales ratio of Jones Lang LaSalle Incorporated is 0.65 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Jones Lang LaSalle Incorporated (JLL)?
Earnings per share at Jones Lang LaSalle Incorporated are $23.06 (price ÷ EPS = P/E 16.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Jones Lang LaSalle Incorporated (JLL)?
The net margin of Jones Lang LaSalle Incorporated is 3.6% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Jones Lang LaSalle Incorporated (JLL)?
The return on equity (ROE) of Jones Lang LaSalle Incorporated is 13.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Jones Lang LaSalle Incorporated (JLL)?
On an EBIT basis the return on assets of Jones Lang LaSalle Incorporated is 5.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Jones Lang LaSalle Incorporated (JLL)?
The operating margin of Jones Lang LaSalle Incorporated is 4.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Jones Lang LaSalle Incorporated (JLL)?
Revenue at Jones Lang LaSalle Incorporated is growing +10.8% versus a year earlier (3y avg +7.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Jones Lang LaSalle Incorporated (JLL)?
Earnings per share at Jones Lang LaSalle Incorporated are growing +97.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Jones Lang LaSalle Incorporated (JLL) carry?
The net debt of Jones Lang LaSalle Incorporated is $2.8B (fiscal year 2025, ≈ 2.8 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed
Watch Jones Lang LaSalle Incorporated in the live analysis
One click puts Jones Lang LaSalle Incorporated on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 27,000+ stock screener.
Some data
Nov 6, 2026