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Jones Lang LaSalle Incorporated (JLL) Fair Value & Analysis

Real Estate · US · Market cap $15.1B

JL Jones Lang LaSalle Incorporated logo Jones Lang LaSalle Incorporated JLL · US
Price$363.69
Fair Value$290.25
Upside-20.2%
Quality66/100
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Healthy Growth
Thin margins · 3.4% net margin
Low debt · generates free cash flow
Mixed vs. peers (8/14)
Narrow moat 44/100
Evidence: High Range $217.69 – $367.80 Share as image

Fair value as of: Jul 12, 2026

From 24 valuation models · updated 26 days ago

Share price +9.4% over the past month.

A solid business, but screening 20% overvalued on our models.

What matters now

  • Solid but not exceptional quality (66/100) and above fair value, neither a clear bargain nor a standout compounder.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

$373.24 $121.97 Fair Value $290.25 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range $121.97 – $373.24 · fair‑value band $217.69 – $367.80 · the $363.69 price screens above the $290.25 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

Jones Lang LaSalle Incorporated (JLL) currently trades at $363.69, while our model-based Fair Value estimate is $290.25, implying the stock looks roughly 20.2% overvalued today. We read business quality at 66/100 (solid quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Jones Lang LaSalle Incorporated generated revenue of $26.8B at a net margin of 3.4%. Revenue grew 11.1% year over year. It earns a return on equity of 12.4%. Net debt stands at $2.8B. Fundamentals as of Jul 12, 2026

Our scenario range runs from $217.69 (bear case) to $367.80 (bull case); at $363.69, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 59% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -2% fair-value upside, at -20%, JLL screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF $284.44 $572.96 $1,022 80
Residual Income $144.26 $162.33 $287.94 76
Rev-Margin DCF $247.83 $454.56 $739.72 74
All 24 models by family
DCF Models
FCF DCF $291.48 $554.11 $1,146 38
Owner Earnings $246.36 $496.91 $970.49 31
5Y Revenue Exit $247.83 $462.52 $765.25 39
5Y EBITDA Exit $282.85 $539.28 $875.45 41
5Y P/E Exit $254.11 $476.28 $742.46 38
10Y Revenue Exit $251.40 $466.58 $822.23 36
10Y EBITDA Exit $283.73 $524.88 $920.24 37
10Y P/E Exit $264.18 $477.03 $801.97 35
Earnings-Based
Graham-Dodd $116.10 $655.41 $910.65 54
Lynch FV $183.81 $262.59 $341.37 50
PEG = 1.0 $183.81 $262.59 $341.37 46
EPV $197.50 $231.16 $260.61 59
Multiples
P/E Multiple $256.10 $341.47 $426.84 63
P/S Multiple $217.69 $290.25 $362.81 58
P/B Multiple $217.69 $290.25 $362.81 55
EV/EBIT $336.96 $450.77 $564.57 53
EV/EBITDA $295.25 $395.15 $495.05 54
EV/Revenue $225.68 $324.31 $422.95 43
Asset-Based
NCAV (Graham) $80.86 $108.35 $161.72 50
Growth DCF
Growth DCF $284.44 $572.96 $1,022 80
Rev-Margin DCF $247.83 $454.56 $739.72 74
Economic Profit
Residual Income $144.26 $162.33 $287.94 76
ROIC Compounder $220.14 $320.18 $418.84 72
Growth Earnings
Growth-Adj P/E $268.40 $383.42 $498.45 68

Widest divergence: DCF Models ($477.03) versus Asset-Based ($108.35). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) $26.8B
Revenue growth (YoY) +11.1%
Net margin 3.4%
Return on equity 12.4%
Free cash flow $979M FY2025
P/E ratio 15.9
More key figures
Operating margin 3.3%
EPS (TTM) $18.59
EPS growth (YoY) +192%
Net debt $2.8B FY2025

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 66/100

Of which business quality 64 · Market factors (momentum, volatility) 63

Profitability 61
Margins and returns on capital today
Quality Growth 70
Are margins and returns improving?
Cashflow 51
Earnings quality: real cash, not paper profit
Fin. Strength 54
Balance sheet, leverage, solvency risk
Investment 80
Disciplined investing over empire-building
Low Volatility 48
Calm price path (market factor)
Momentum 58
Price trend over the last 3–12 months (market factor)
52W Momentum 87
Distance to the 52-week high (market factor)
Net Issuance 86
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

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.

Full company description

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.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

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.

Growth Quality 80/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
$26.1B
Latest YoY
+11.4%
Avg. growth/yr (3Y)
+7.8%
Avg. growth/yr (5Y)
+9.5%
Avg. growth/yr (29Y)
+19.3%
Revenue +7.8%/yr
FY21 $19.4B
FY22 $20.9B
FY23 $20.8B
FY24 $23.4B
FY25 $26.1B
Net income −4.7%/yr
FY21 $962M
FY22 $655M
FY23 $225M
FY24 $547M
FY25 $792M

JLL screens 20% overvalued. Compare with Vingroup Joint Stock Company →

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Cite: Fair Value Calculator (2026). "Jones Lang LaSalle Incorporated Fair Value". https://www.fairvalue-calculator.com/stock/JLL

Recent news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Real Estate Services · 522 stocks

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.

Quality Score 65 · Top 25%
Fair Value upside −20% · Below median
Return on equity (TTM) 12% · Top 25%
Return on assets 5% · Top 25%
Net margin (TTM) 3% · Below median
Operating margin (TTM) 3% · Below median
Revenue growth 11% · Above median
Debt / equity 0.11× · Lower than median

Valuation Multiples vs Real Estate Services median · lower = cheaper

P/E (TTM) 17.5× · Pricier than median
P/B 2.01× · Pricier than 75% of peers
P/S (TTM) 0.56× · Cheaper than median
P/FCF 15.4× · Pricier than 75% of peers
EV/EBITDA 9.6× · Cheaper than median
PEG 1.03× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 6 · sector 40
FUTURE 56 · sector 10
PAST 50 · sector 16
HEALTH 95 · sector 85
DIVIDEND 0 · sector 49

Insider activity: 44/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Real Estate Services stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

Stock Price Fair Value vs Fair Value
Vingroup Joint Stock Company VIC 223,000 VND 25,731 VND -88%
KE Holdings 2423 HK$44.76 HK$18.03 -60%
Swire Properties Limited 1972 HK$23.90 HK$18.75 -22%
Plaza S.A MALLPLAZA 3,725 CLP 5,571 CLP +50%
SAGAA SAGAA kr 170.00 kr 75.55 -56%
Cencosud Shopping S.A CENCOMALLS 2,324 CLP 2,976 CLP +28%
PT Sarana Menara Nusantara Tbk. owns and TOWR 372.00 IDR 1,208 IDR +225%
PT Metropolitan Kentjana Tbk MKPI 20,975 IDR 19,160 IDR -9%
PT Bangun Kosambi Sukses Tbk, CBDK 3,530 IDR 3,464 IDR -2%
IRSA Inversiones y Representaciones Sociedad Anónima, IRSA 2,495 ARS 3,998 ARS +60%

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Frequently asked questions

Is Jones Lang LaSalle Incorporated (JLL) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of $290.25 versus a price of $363.69, about −20% (overvalued).
What is the fair value of JLL?
Our model-based fair value for Jones Lang LaSalle Incorporated is $290.25 (as of Jul 12, 2026), built from audited fundamentals. The current price is $363.69.
What is the quality score of JLL?
Jones Lang LaSalle Incorporated has a Quality Score of 66/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of Jones Lang LaSalle Incorporated (JLL)?
Jones Lang LaSalle Incorporated reported trailing-twelve-month revenue of about $26.8B (latest available figure, as of Jul 12, 2026).
What is the net profit margin of JLL?
The net profit margin of Jones Lang LaSalle Incorporated is about 3.4%, meaning it keeps roughly 3.4% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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