Jones Lang LaSalle
JLLNYSEUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $374.37 Prior regular-session close from the quote source.
- $367.23–$375.42 Regular-session low and high so far today.
- 382.8K Regular-session shares traded · Nov 11, 4:00 PM ET.
- Feb 17 projected Projected for 2027-02-17 from the company’s own results filings (SEC 8-K Item 2.02). The company has not confirmed the date.
- $259.83–$395.79 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own JLL if JLL leverages a global, integrated commercial real estate services platform plus LaSalle investment management and growing proptech capabilities to win large, recurring client mandates and convert scale into fee-rich, cash-generative growth.
JLL price history
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Investment thesis
What must happen next
JLL’s global scale and integrated service offering will keep winning large, multi-year client mandates and produce sustained top-line growth.StrengtheningMateriality: High
Revenue grew from $20,760,800,000 (2023) to $23,432,900,000 (2024) to $26,115,600,000 (2025) (fields: revenue, annual). If true, revenue growth will continue to feed operating leverage, investment-management mandates and higher valuation; if false, reliance on transactional work will leave revenue volatile and valuation vulnerable.
Watch: Large clients insource real estate functions or shift to lower-cost competitors (e.g., CBRE, Colliers) reducing mandate size.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Revenue grew from $20,760,800,000 (2023) to $23,432,900,000 (2024) to $26,115,600,000 (2025) (fields: revenue, annual).
Open source ↗LaSalle Investment Management will remain a higher-margin, fee-generating engine that boosts consolidated operating income and margin resilience versus pure services.StrengtheningMateriality: High
Operating income increased from $576,500,000 (2023) to $868,100,000 (2024) to $1,098,000,000 (2025) (fields: operating_income, annual). Sustained AUM and fees justify premium multiples and stabilize profits; if LaSalle’s fees or AUM decline, consolidated margins and cash generation will fall.
Watch: A prolonged downturn in real-estate markets reduces AUM/valuations and performance fees.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Operating income increased from $576,500,000 (2023) to $868,100,000 (2024) to $1,098,000,000 (2025) (fields: operating_income, annual).
Open source ↗Monetizing proptech and embedding Software & Technology Solutions into Real Estate Management Services will raise productivity, create switching costs and improve cash conversion.HoldingMateriality: Medium
Operating cash flow rose from $575,800,000 (2023) to $785,300,000 (2024) to $1,194,100,000 (2025) (fields: operating_cash_flow, annual). Successful tech monetization turns labor-heavy services into higher-margin, more recurring revenue; failure wastes capital and risks impairments.
Watch: Failure to convert proptech into paid products or to scale deployments across clients, leading to repeated impairments or capex without revenue.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Operating cash flow rose from $575,800,000 (2023) to $785,300,000 (2024) to $1,194,100,000 (2025) (fields: operating_cash_flow, annual).
Open source ↗JLL’s improving cash generation and operating performance will support durable EPS growth and shareholder-friendly capital allocation (buybacks/dividends) rather than dilution.StrengtheningMateriality: Medium
Diluted EPS rose from $4.67 (2023) to $11.30 (2024) to $16.40 (2025) (fields: eps_diluted, annual). If true, EPS growth will compound returns and justify present valuation; if false, EPS gains could be temporary or offset by dilution/poor allocation.
Watch: Large acquisitions funded with equity or material share-based compensation causing dilution.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Diluted EPS rose from $4.67 (2023) to $11.30 (2024) to $16.40 (2025) (fields: eps_diluted, annual).
Open source ↗
Full investment case & evidence
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Original research
JLL’s global scale and integrated service offering will keep winning large, multi-year client mandates and produce sustained top-line growth. If true, revenue growth will continue to feed operating leverage, investment-management mandates and higher valuation; if false, reliance on transactional work will leave revenue volatile and valuation vulnerable.
LaSalle Investment Management will remain a higher-margin, fee-generating engine that boosts consolidated operating income and margin resilience versus pure services. Sustained AUM and fees justify premium multiples and stabilize profits; if LaSalle’s fees or AUM decline, consolidated margins and cash generation will fall.
Monetizing proptech and embedding Software & Technology Solutions into Real Estate Management Services will raise productivity, create switching costs and improve cash conversion. Successful tech monetization turns labor-heavy services into higher-margin, more recurring revenue; failure wastes capital and risks impairments.
JLL’s improving cash generation and operating performance will support durable EPS growth and shareholder-friendly capital allocation (buybacks/dividends) rather than dilution. If true, EPS growth will compound returns and justify present valuation; if false, EPS gains could be temporary or offset by dilution/poor allocation.
All standing thesis claims
Original report summary
JLL leverages a global, integrated commercial real estate services platform plus LaSalle investment management and growing proptech capabilities to win large, recurring client mandates and convert scale into fee-rich, cash-generative growth.
Bull case and bear case
Bull case and bear case for Jones Lang Lasalle
Where the evidence on Jones Lang Lasalle stands: Holding on the latest evidence (Nov 6, 2026). Of its 4 thesis points, 3 strengthening and 1 holding.
Bull case: what the evidence supports
JLL’s global scale and integrated service offering will keep winning large, multi-year client mandates and produce sustained top-line growth.
LaSalle Investment Management will remain a higher-margin, fee-generating engine that boosts consolidated operating income and margin resilience versus pure services.
Monetizing proptech and embedding Software & Technology Solutions into Real Estate Management Services will raise productivity, create switching costs and improve cash conversion.
JLL’s improving cash generation and operating performance will support durable EPS growth and shareholder-friendly capital allocation (buybacks/dividends) rather than dilution.
Bear case: what would count against it
Large clients insource real estate functions or shift to lower-cost competitors (e.g., CBRE, Colliers) reducing mandate size.
A prolonged downturn in real-estate markets reduces AUM/valuations and performance fees.
Failure to convert proptech into paid products or to scale deployments across clients, leading to repeated impairments or capex without revenue.
Thesis-Break Engine
What has broken in Jones Lang Lasalle’s thesis
Each break OptimistFi flagged on Jones Lang Lasalle, dated — with what has historically followed the same kind of break across the market, not a forecast for Jones Lang Lasalle.
- CEO / officer changecondition set before this filing
Across all companies, this kind of break has happened 16,849 times before. Those stocks trailed comparable companies by a median of 2% over the next six months, and 38% of them trailed it by 10 points or more.
MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedDirector or principal officer change.
Jones Lang Lasalle filed an SEC 8-K on 2026-11-04: Director or principal officer change. It is a dated development that tests the current thesis.
- MixedOther material event.
Jones Lang Lasalle filed an SEC 8-K on 2026-10-30: Other material event. It is a dated development that tests the current thesis.
- MixedReported results of operations (earnings release).
Jones Lang Lasalle filed an SEC 8-K on 2026-10-28: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- Large clients insource real estate functions or shift to lower-cost competitors (e.g., CBRE, Colliers) reducing mandate size.
- A prolonged downturn in real-estate markets reduces AUM/valuations and performance fees.
- Failure to convert proptech into paid products or to scale deployments across clients, leading to repeated impairments or capex without revenue.
- Large acquisitions funded with equity or material share-based compensation causing dilution.
JLL news
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Financial statements
JLL income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.
JLL: quick answers
- When does Jones Lang Lasalle (JLL) report earnings next?
- Jones Lang Lasalle's next results are projected for February 17, 2027, from the dates of its own results filings with the SEC. The company has not confirmed the date. It last reported on October 28, 2026. Earnings calendar
- What is JLL's short interest?
- As of October 30, 2026, 1.5M JLL shares were sold short, 3.19% of its shares outstanding, up 8.8% from the count before. At the stock's average daily volume that is 2.6 days to cover. FINRA publishes the count twice a month. JLL short interest history
- Have members of Congress traded JLL?
- 22 trades in JLL have been disclosed under the STOCK Act by members of Congress, the President or senior officials, none in reports made public in the last 90 days. Every disclosed JLL trade
- Which well-known investors own JLL?
- 1 of the 37 well-known funds tracked here reported JLL shares in their latest 13F filing. By share of the fund's portfolio: Bridgewater Associates (Ray Dalio), 0.0%. Fund portfolios
JLL in well-known investors’ portfolios
1 of 37 funds reported JLL shares in their latest 13F filing. A 13F shows quarter-end positions and arrives up to 45 days later.
| Fund | Of its portfolio | Value | Change | Quarter |
|---|---|---|---|---|
| Ray DalioBridgewater Associates | 0.00% | $1.1M | −61.5% | Q2 2026 |