JLL (Jones Lang LaSalle) Operating Income: $1,244 Mil (TTM As of Mar. 2026)

What is Jones Lang LaSalle Operating Income?

Jones Lang LaSalle JLL +2.86% 92 Operating Income is $1,244 Mil as of Mar. 2026. GuruFocus rates JLL with a GF Score™ of 92/100 and a GF Value™ of $294.43 (Modestly Overvalued). The stock has 5 warning signs investors should review.

Jones Lang LaSalle's Operating Income for the three months ended in Mar. 2026 was $210 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $1,244 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Jones Lang LaSalle's Operating Income for the three months ended in Mar. 2026 was $210 Mil. Jones Lang LaSalle's Revenue for the three months ended in Mar. 2026 was $6,387 Mil. Therefore, Jones Lang LaSalle's Operating Margin % for the quarter that ended in Mar. 2026 was 3.29%.

Warning Sign:

Jones Lang LaSalle Inc operating margin has been in a 5-year decline. The average rate of decline per year is -3.8%.

Jones Lang LaSalle's 5-Year average Growth Rate for Operating Margin % was -3.80% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Jones Lang LaSalle's annualized ROC % for the quarter that ended in Mar. 2026 was 4.98%. Jones Lang LaSalle's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 63.16%.

Jones Lang LaSalle (NYSE:JLL) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Jones Lang LaSalle's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

	ROC % (Q: Mar. 2026 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2025 )	+	Invested Capital (Q: Mar. 2026 ))	/ count )
=	839.6 * ( 1 - 19.29% )	/	( (13264.3	+	13967)	/ 2 )
=	677.64116	/	13615.65
=	4.98 %

where

	Invested Capital		(Q: Dec. 2025 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	17801.1	-	3937.7	-	( 599.1	-	max(0, 7386.6	-	8179.4	+	599.1	))
=	13264.3

	Invested Capital		(Q: Mar. 2026 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	17888.3	-	3485.1	-	( 436.2	-	max(0, 7386.9	-	8304.7	+	436.2	))
=	13967

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Jones Lang LaSalle's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2026 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2025		Q: Mar. 2026
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	839.6	/	( ( (1342.9 + max(-3984.9, 0))	+	(1315.7 + max(-2502.7, 0)) )	/	2 )
=	839.6	/	( ( 1342.9	+	1315.7 )	/	2 )
=	839.6	/	1329.3
=	63.16 %

where Working Capital is:

	Working Capital		(Q: Dec. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(1752.2	+	0	+	631.2)	-	(3937.7	+	237.2	+	2193.4)
=	-3984.9

	Working Capital		(Q: Mar. 2026 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(2161.7	+	0	+	616.6)	-	(3485.1	+	228.6	+	1567.3)
=	-2502.7

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Jones Lang LaSalle's Operating Margin % for the quarter that ended in Mar. 2026 is calculated as:

Operating Margin %	=	Operating Income (Q: Mar. 2026 )	/	Revenue (Q: Mar. 2026 )
	=	209.9	/	6386.5
	=	3.29 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

Jones Lang LaSalle Operating Income Related Terms

Jones Lang LaSalle Operating Income Historical Data

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The historical data trend for Jones Lang LaSalle's Operating Income can be seen below:

Jones Lang LaSalle Operating Income Chart

Jones Lang LaSalle Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Operating Income

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1,128.20

972.90

677.20

891.20

1,173.30

Jones Lang LaSalle Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Operating Income	Get a 7-Day Free Trial															139.70	218.70	285.40	529.50	209.90

92GF Score

Jones Lang LaSalle Inc JLL

Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.

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Jones Lang LaSalle Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $1,244 Mil.

Frequently Asked Questions Learn more about Operating Income →

What does a Operating Income of $1,244 Mil mean?

Jones Lang LaSalle (JLL) has a Operating Income of $1,244 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Jones Lang LaSalle and its competitors.

Is Jones Lang LaSalle's Operating Income too high?

Jones Lang LaSalle's current Operating Income is $1,244 Mil. Overall, Jones Lang LaSalle has a GF Score™ of 92/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.

How does Jones Lang LaSalle's Operating Income compare to BEKE and CSGP?

Jones Lang LaSalle's Operating Income of $1,244 Mil can be compared against companies in the Real Estate industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good Operating Income for a Real Estate company?

A good Operating Income depends on the Real Estate industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high Operating Income mean?

A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Jones Lang LaSalle and its competitors. Jones Lang LaSalle's current Operating Income is $1,244 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Jones Lang LaSalle stock overvalued right now?

Based on GuruFocus' analysis, Jones Lang LaSalle (JLL) is currently considered Modestly Overvalued. The stock's GF Value™ is $294.43, compared to a current price of $327.46 — trading 11.2% above its estimated fair value. The current Operating Income is $1,244 Mil. Jones Lang LaSalle's overall GF Score™ is 92/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is Operating Income calculated?

Operating Income is calculated from a company's financial statements. For Jones Lang LaSalle (JLL), the current Operating Income is $1,244 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Jones Lang LaSalle (JLL) Overvalued in 2026?

Based on GuruFocus' analysis, Jones Lang LaSalle stock appears to be overvalued. The current stock price of $327.46 is trading 11.2% above its estimated GF Value™ of $294.43. GuruFocus considers Jones Lang LaSalle to be Modestly Overvalued.

Key valuation signals for JLL:

Operating Income: $1,244 Mil
GF Value™: $294.43 vs. price of $327.46 (11.2% above fair value)
GF Score™: 92/100 with 5 warning signs

No single metric tells the full story. See the JLL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Jones Lang LaSalle Business Description

Industry Real Estate Real Estate

Comparable Companies BEKE CSGP COMP OPEN CWK IHS NMRK KW MMI HBNB STC:VIC CBRE ISX:DCII XMAD:CLNX XTER:VNA TSE:8830 XTAE:AZRG HKSE:01972 ADX:MODON HKSE:01209

Other Exchanges 0JPB:UK 4J2:Germany

Address 200 East Randolph Drive, Chicago, IL, USA, 60601

Website https://www.jll.com

Jones Lang LaSalle provides a wide range of real estate-related services to owners, occupiers, and investors worldwide, including leasing, property and project management, and capital markets advisory. JLL's investment management arm, LaSalle Investment Management, manages over $86 billion for clients across diverse public and private real estate strategies as of the end of 2025.

92GF Score

Get the complete analysis for JLL

Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$327.46

Price

$294.43

GF Value

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