JLLNYSEReal Estate Agents & Managers (For Others)US GAAP · USD

Jones Lang LaSalle Incorporated

Jones Lang LaSalle Incorporated (JLL) is a global commercial real estate services and investment management company that helps clients buy, lease, manage, and invest in property. Its platform spans occupier services, leasing, capital markets, investment management, and real estate technology, serving corporate, institutional, and public-sector clients across more than 80 countries.

Kysy yhtiöstä
Liikevaihto26,1mrd USD
+11,4 %v/v
Liikevoitto (EBIT)1 098milj. USD
+26,5 %v/v
EBIT-marginaali4,2%
+0,5 %-yks.v/v
Nettotulos792milj. USD
+44,9 %v/v
Vapaa kassavirta1 194milj. USD
+52,1 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

0102030mrd USD2020: 16,6 mrd USD2020: EBIT 0,56 mrd USD20202021: 19,4 mrd USD2021: EBIT 1,0 mrd USD20212022: 20,9 mrd USD2022: EBIT 0,87 mrd USD20222023: 20,8 mrd USD2023: EBIT 0,58 mrd USD20232024: 23,4 mrd USD2024: EBIT 0,87 mrd USD20242025: 26,1 mrd USD2025: EBIT 1,1 mrd USD202526,11,1
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Real Estate Management Services38 %

Integrated facility, property, project, workplace, and portfolio management services.

Leasing Advisory18 %

Agency leasing, tenant representation, and related advisory services for occupiers and landlords.

Capital Markets Services16 %

Investment sales, debt and equity advisory, value/risk advisory, and loan servicing.

Investment Management20 %

Global real estate investment management and securities investing through LaSalle.

Software and Technology Solutions8 %

Proptech software products and services used by real estate clients.

Asiakkaat

JLL sells to large corporate occupiers, landlords, investors, and public-sector entities that need outsourced real estate expertise and execution. Its client base also includes institutional investors and high-net-worth individuals through LaSalle, plus owners and occupiers seeking leasing, project delivery, and sustainability support. The business is relationship-driven, so retention of major accounts and cross-selling across service lines are central to growth.

Corporate occupiers

Buy workplace management, project management, and portfolio services to run real estate more efficiently.

Property owners and landlords

Buy leasing, property management, and advisory services to improve occupancy and asset performance.

Institutional investors

Buy global investment management and advisory services through LaSalle.

Public sector and PPP clients

Buy specialized real estate services for complex, regulated, or multi-stakeholder projects.

High-net-worth individuals

Buy investment management products and access to real estate securities strategies.

Technology-enabled real estate users

Buy software and data tools to support real estate operations and decision-making.

Strategia

JLL is focused on scaling integrated real estate services, deepening client relationships, and using technology and data to improve delivery. Management is also investing in sustainability capabilities and proptech-related initiatives to strengthen differentiation in a fragmented, competitive market. The company continues to broaden its platform so it can cross-sell more services to the same client and defend share against local firms and non-traditional competitors.

Cross-sell integrated real estate servicesKeskipitkä aikaväli

A broader client relationship improves retention and raises revenue per account.

Invest in technology and AI-enabled deliveryLyhyt aikaväli

Technology can lower service costs, improve productivity, and support differentiation.

Grow sustainability and decarbonization servicesKeskipitkä aikaväli

Clients increasingly need carbon planning, execution, and compliance support.

Expand global scale in fragmented marketsPitkä aikaväli

Scale helps compete against local firms and win multinational mandates.

Maantiede

JLL operates in more than 80 countries, with a broad global footprint that supports multinational clients and cross-border transactions. The U.S. is the largest market mentioned in the filings for leasing growth, while France, Australia, Singapore, Canada, and Germany were also called out as meaningful contributors in recent periods. This geographic spread diversifies demand but also exposes the company to local real estate cycles, currency translation, and regulatory differences.

Riskit

JLL is exposed to cyclical commercial real estate activity, so weaker transaction volumes or leasing demand can quickly pressure fees and margins. The company also faces client concentration, cybersecurity, vendor, and regulatory risks because it handles sensitive data and depends on long-term enterprise relationships and third-party service delivery. Competition from local firms and non-traditional entrants can compress pricing and commoditize parts of the service mix.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Commercial real estate market cyclicality1Client concentration and relationship loss2Cybersecurity and privacy breaches3Third-party and subcontractor dependence4Fee compression from competition5
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Commercial real estate market cyclicalityVaikutus: KorkeaTodennäköisyys: Korkea

    Transaction and leasing activity drives a meaningful share of fee revenue.

    Kohdistuu: Leasing Advisory and Capital Markets Services

  2. Client concentration and relationship lossVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Large enterprise clients buy multiple services, so one service failure can jeopardize broader revenue.

    KohdistuuMajor accounts across leasingManagementCapital markets
  3. Cybersecurity and privacy breachesVaikutus: KorkeaTodennäköisyys: Kohtalainen

    The company collects personal and client data and relies on digital systems and vendors.

    KohdistuuEnterprise systemsClient dataThird-party technology services
  4. Third-party and subcontractor dependenceVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Service delivery increasingly depends on external providers and technology vendors.

    KohdistuuFacilitiesTechnologyOutsourced support functions
  5. Fee compression from competitionVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Local and global competitors can undercut pricing and commoditize services.

    KohdistuuAll service linesEspecially transactional businesses

Kirjanpito

Harkinnanvaraiset erät
Revenue recognition across service lines

Fees, commissions, and incentive income are recognized under different timing rules and judgments.

Vaikutus: Affects reported revenue mix and quarter-to-quarter comparability

Pass-through costs and gross contract costs

A significant portion of revenue reimburses client-related expenses.

Vaikutus: Inflates both revenue and expense lines without changing underlying margin

Incentive compensation accruals

Bonuses are accrued throughout the year based on annual targets.

Vaikutus: Creates seasonal and quarterly swings in operating expense

Goodwill and intangible asset impairment

Acquisitions make goodwill the largest balance sheet asset and require annual testing.

Vaikutus: Potential non-cash charges if acquired businesses underperform

Fair value measurement of investments

LaSalle co-investments and proptech investments require valuation estimates.

Vaikutus: Can affect earnings and balance sheet carrying values

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Päivitetty: 24.9.2026