Jones Lang LaSalle Incorporated (JLL) Stock

Jones Lang LaSalle Incorporated (JLL) is a Real Estate stock trading at $384.29 (as of 2026-08-20), with a market capitalization of $17.68B and a trailing P/E of 23.4. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Jones Lang LaSalle Incorporated, a professional services company, provides real estate and investment management services in Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers a range of real estate services, including agency leasing and tenant representation services; and capital market services, such as debt advisory, loan sales, equity advisory, loan servicing, merger and acquisition, corporate advisory, and investment sales and advisory services. It also provides on-site management services for office, industrial, retail, multifamily residential, and specialty properties; integrated facilities management services; designing, building, management, and consulting services to tenants of leased space, owners in self-occupied buildings, and owners of real estate investments; and advisory, consulting, valuation, and energy and sustainability services. In addition, the company offers investment management services to institutional and retail investors, including high-net-worth individuals. It provides its services to real estate owners, occupiers, investors, and developers for various property types, including cultural, educational, government, healthcare, laboratory, hotel, hospitality, and sports facilities; industrial and warehouse, office, and residential properties; retail and shopping malls; critical environment, data, transportation, and sort and fulfillment centers; infrastructure projects; and military housings. 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.

Understand Jones Lang LaSalle Incorporated: how it makes money

Jones Lang LaSalle provides real estate services, including agency leasing and tenant representation, capital markets advisory, and on-site property management, and it earns money primarily through service fees from these advisory and management activities.

Because JLL is paid for fee-based real estate advisory (leasing and capital markets) and managed services, its profit engine depends on generating and sustaining service fee revenue across both transactional advisory and ongoing property management.

Revenue by segment (latest quarter)
WorkDyn$4.0B
MarketsAdv$1.2B
CapMktsSvc$0.8B
InvMgmt$0.1B
LaSalle$0.1B
JLLTech$0.1B
TechSol$0.1B

Business quality (Weak): Good segment revenue breakdown is provided, but the dataset does not include operational KPIs beyond revenue line items, and it provides only one profitability figure (operating margin).

Valuation: At 16× earnings, JLL trades 54% below the Real Estate average (34×). Note: one-time items can distort reported P/E.

Bull case

  • Service mix across management and advisory: A large share of revenue comes from Work Dynamics (3.97B), and the company also generates revenue from leasing and capital markets advisory activities (Markets Advisory 1.2B, Capital Markets Services 0.85B).
  • Breadth of real estate service offerings: The company provides agency leasing and tenant representation, capital markets services (debt advisory, loan sales, equity advisory, loan servicing, merger and acquisition, corporate advisory, and investment sales and advisory), and on-site management for multiple property types (office, industrial, retail, multifamily residential, and specialty).

Bear case

  • Thin operating profitability in the latest period: The latest reported operating margin is 3.2%, which leaves less cushion if fee volumes or service economics weaken.
  • Revenue is concentrated in fee-based services that can be cyclical: Smaller revenue pools in areas like Investment Management (0.13B) and JLL Technologies (0.07B) mean a larger portion of the model depends on larger fee-based segments such as Work Dynamics and Markets Advisory.
Valuation — source: SEC EDGAR (first-party)
Price$384.29
Market Cap$17.68B
P/E Ratio23.4
EV / EBITDA14.7
Price / Book2.33
Price / Sales0.67
DCF Value (model)$550.22
DCF Upside vs Price43.2%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$26.12B
Net Margin3.0%
Revenue Growth (YoY)11.4%
EPS Growth (YoY)45.4%
Financial Health — source: SEC EDGAR
Altman Z-Score3.34 (safe)
Valuation vs Sector & Industry
Stock P/E23.4
Sector P/E (Real Estate)27.1
Industry P/E (Real Estate)29.8
vs Sector-13.7%
vs Industry-21.4%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($2.29B)
Institutional Holders Tracked10
Congressional Trades (recent)10
Company
SectorReal Estate
IndustryReal Estate
CEOChristian Ulbrich
Employees112,100
CountryUS
IPO Date1997-07-17

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JLL earnings history · JLL institutional & insider holders · JLL KPIs & operating metrics · JLL financials · JLL investor presentations & press releases · JLL SEC filings · JLL peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.