JCIJohnson Controls

Industrials · HVAC Equipment · NYSE

JCI and 9 peers, year by year

The 9 Industrials companies closest to JCI in revenue over the last twelve months. Every number is from the 10-K and links to it in SEC's Inline XBRL viewer.

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Each company's latest fiscal year
Company	Year	Revenue	Sales growth	Gross margin	Operating margin	Net margin	FCF margin	Return on equity	Debt / equity
JCI Johnson Controls	FY2025	$23.6B	+2.8%	36.4%	-	13.9%	9.0%	25.5%	0.77
MMM 3M	FY2025	$24.9B	+1.5%	-	18.6%	13.0%	5.6%	69.1%	2.68
TT Trane Technologies	FY2025	$21.3B	+7.5%	-	18.6%	13.7%	13.2%	34.0%	0.62
WM Waste Management	FY2025	$25.2B	+14.2%	-	17.1%	10.7%	11.2%	27.1%	2.29
LHX L3Harris	FY2025	-	-	-	-	-	-	8.2%	0.57
CARR Carrier Global	FY2025	$21.7B	−3.3%	-	10.0%	6.8%	9.8%	10.5%	0.84
UNP Union Pacific Corporation	FY2025	$24.5B	+1.1%	-	40.2%	29.1%	22.4%	38.7%	1.72
PH Parker Hannifin	FY2026	$21.5B	+8.3%	-	23.6%	17.0%	18.2%	23.7%	0.55
ADP Automatic Data Processing	FY2026	$21.9B	+6.7%	-	-	20.1%	-	73.2%	0.82
EME Emcor	FY2025	$17.0B	+16.6%	19.3%	10.1%	7.5%	7.0%	34.6%	-

Revenuepeer median $21.8B

Sales growthpeer median +7.1%

Gross margin

JCI 36.4%
EME 19.3%
MMM -
TT -
WM -
LHX -
CARR -
UNP -
PH -
ADP -

Operating marginpeer median 18.6%

UNP 40.2%
PH 23.6%
TT 18.6%
MMM 18.6%
WM 17.1%
EME 10.1%
CARR 10.0%
JCI -
LHX -
ADP -

Net marginpeer median 13.4%

FCF marginpeer median 11.2%

UNP 22.4%
PH 18.2%
TT 13.2%
WM 11.2%
CARR 9.8%
JCI 9.0%
EME 7.0%
MMM 5.6%
LHX -
ADP -

Return on equitypeer median 34.0%

Debt / equitypeer median 0.83

MMM 2.68
WM 2.29
UNP 1.72
CARR 0.84
ADP 0.82
JCI 0.77
TT 0.62
LHX 0.57
PH 0.55
EME -

RevenueSales growthGross marginOperating marginNet marginFree cash flowFCF marginReturn on equityDebt / equityEPS (diluted)

Revenue, FY2016 to FY2025

Revenue as reported in the 10-K.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
JCI Sep	$20.8B	$30.2B	$31.4B	$24.0B	$22.3B	$23.7B	$20.6B	$22.3B	$23.0B	$23.6B
MMM Dec	$30.1B	$31.7B	$32.8B	$32.1B	$32.2B	$35.4B	$26.2B	$24.6B	$24.6B	$24.9B
TT Dec	$13.5B	$14.2B	$12.3B	$13.1B	$12.5B	$14.1B	$16.0B	$17.7B	$19.8B	$21.3B
WM Dec	$13.6B	$14.5B	$14.9B	$15.5B	$15.2B	$17.9B	$19.7B	$20.4B	$22.1B	$25.2B
LHX Jan	$6.0B	$5.9B	$6.2B	$6.8B	$18.2B	$17.8B	$17.1B	$19.4B	$21.3B	-
CARR Dec	-	-	$18.9B	$18.6B	$17.5B	$20.6B	$17.3B	$19.0B	$22.5B	$21.7B
UNP Dec	$19.9B	$21.2B	$22.8B	$21.7B	$19.5B	$21.8B	$24.9B	$24.1B	$24.2B	$24.5B
PH Jun	$11.4B	$12.0B	$14.3B	$14.3B	$13.7B	$14.3B	$15.9B	$19.1B	$19.9B	$19.9B
ADP Jun	$11.7B	$12.4B	$13.3B	$14.1B	$14.6B	$15.0B	$16.5B	$18.0B	$19.2B	$20.6B
EME Dec	$7.6B	$7.7B	$8.1B	$9.2B	$8.8B	$9.9B	$11.1B	$12.6B	$14.6B	$17.0B
Peer median	$12.6B	$13.3B	$14.3B	$14.3B	$15.2B	$17.8B	$17.1B	$19.1B	$21.3B	$21.5B

Sales growth, FY2016 to FY2025

Revenue against the fiscal year before.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
JCI Sep	+21.9%	+44.8%	+2.5%	+2.4%	−6.9%	+6.1%	+6.9%	+8.2%	+2.8%	+2.8%
MMM Dec	−0.5%	+5.1%	+3.5%	−1.9%	+0.1%	+9.9%	−3.2%	−5.9%	−0.1%	+1.5%
TT Dec	+1.6%	+5.1%	+10.4%	+5.9%	−4.8%	+13.5%	+13.1%	+10.5%	+12.2%	+7.5%
WM Dec	+5.0%	+6.4%	+3.0%	+3.6%	−1.5%	+17.8%	+9.9%	+3.7%	+8.0%	+14.2%
LHX Jan	-	−1.5%	+4.6%	+10.3%	+41.5%	−2.1%	−4.2%	+13.8%	+9.8%	-
CARR Dec	-	-	-	−1.6%	−6.2%	+18.1%	−0.9%	+9.6%	+18.7%	−3.3%
UNP Dec	−8.6%	+6.5%	+7.5%	−4.9%	−10.0%	+11.6%	+14.1%	−3.0%	+0.5%	+1.1%
PH Jun	-	+5.9%	+18.9%	+0.1%	−4.4%	+4.8%	+10.6%	+20.2%	+4.5%	−0.4%
ADP Jun	-	+6.1%	+7.7%	+6.3%	+3.4%	+2.8%	+9.9%	+9.2%	+6.6%	+7.1%
EME Dec	+12.4%	+1.8%	+5.8%	+12.8%	−4.1%	+12.6%	+11.8%	+13.6%	+15.8%	+16.6%
Peer median	+1.6%	+5.5%	+6.6%	+3.6%	−4.1%	+11.6%	+9.9%	+9.6%	+8.0%	+4.3%

Gross margin, FY2016 to FY2025

Gross profit / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
JCI Sep	27.1%	25.0%	24.4%	32.1%	33.2%	34.1%	34.4%	34.9%	35.2%	36.4%
MMM Dec	-	-	-	-	-	-	-	-	-	-
TT Dec	-	-	-	-	-	-	-	-	-	-
WM Dec	-	-	-	-	-	-	-	-	-	-
LHX Jan	-	-	-	-	-	-	-	-	-	-
CARR Dec	-	-	-	-	-	-	-	-	-	-
UNP Dec	-	-	-	-	-	-	-	-	-	-
PH Jun	22.3%	23.6%	-	-	-	-	-	-	-	-
ADP Jun	-	-	-	-	-	-	-	-	-	-
EME Dec	13.7%	14.9%	14.8%	14.8%	15.9%	15.2%	14.5%	16.6%	19.0%	19.3%
Peer median	-	-	-	-	-	-	-	-	-	-

Operating margin, FY2016 to FY2025

Operating income / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
JCI Sep	-	-	-	-	-	-	-	-	-	-
MMM Dec	23.3%	24.3%	22.0%	19.2%	22.3%	20.8%	16.7%	−43.4%	19.6%	18.6%
TT Dec	11.9%	11.7%	12.2%	12.8%	12.3%	14.3%	15.1%	16.4%	17.6%	18.6%
WM Dec	16.9%	18.2%	18.7%	17.5%	16.0%	16.5%	17.1%	17.5%	18.4%	17.1%
LHX Jan	17.6%	18.2%	18.1%	21.3%	11.9%	11.8%	6.6%	7.3%	9.0%	-
CARR Dec	-	-	19.2%	13.4%	17.7%	12.8%	23.0%	11.4%	11.8%	10.0%
UNP Dec	36.3%	38.2%	37.3%	39.4%	40.1%	42.8%	39.9%	37.7%	40.1%	40.2%
PH Jun	13.9%	14.9%	14.3%	15.6%	14.4%	17.1%	18.8%	17.9%	20.4%	21.9%
ADP Jun	-	-	-	-	-	-	-	-	-	-
EME Dec	4.1%	4.3%	5.0%	5.0%	2.9%	5.4%	5.1%	7.0%	9.2%	10.1%
Peer median	16.9%	18.2%	18.4%	16.6%	15.2%	15.4%	16.9%	13.9%	18.0%	18.6%

Net margin, FY2016 to FY2025

Net income / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
JCI Sep	−4.2%	5.3%	6.9%	23.7%	2.8%	6.9%	7.4%	8.3%	7.4%	13.9%
MMM Dec	16.8%	15.3%	16.3%	14.1%	16.9%	16.7%	22.1%	−28.4%	17.0%	13.0%
TT Dec	10.9%	9.2%	10.8%	10.8%	6.9%	10.1%	11.0%	11.4%	12.9%	13.7%
WM Dec	8.7%	13.5%	12.9%	10.8%	9.8%	10.1%	11.4%	11.3%	12.4%	10.7%
LHX Jan	5.4%	9.2%	11.3%	14.0%	6.2%	10.4%	6.2%	6.3%	7.0%	-
CARR Dec	-	-	14.5%	11.4%	11.4%	8.1%	20.4%	7.1%	24.9%	6.8%
UNP Dec	21.2%	50.4%	26.1%	27.3%	27.4%	29.9%	28.1%	26.4%	27.8%	29.1%
PH Jun	7.1%	8.2%	7.4%	10.6%	8.8%	12.2%	8.3%	10.9%	14.3%	17.8%
ADP Jun	12.8%	14.5%	14.2%	16.2%	16.9%	17.3%	17.9%	18.9%	19.5%	19.8%
EME Dec	2.4%	3.0%	3.5%	3.5%	1.5%	3.9%	3.7%	5.0%	6.9%	7.5%
Peer median	9.8%	11.3%	12.9%	11.4%	9.8%	10.4%	11.4%	10.9%	14.3%	13.4%

Free cash flow, FY2016 to FY2025

Cash from operations minus capital spending.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
JCI Sep	$659.0M	−$389.0M	$875.0M	$1.2B	$2.0B	$2.0B	$750.0M	$1.4B	$1.1B	$2.1B
MMM Dec	$5.2B	$4.9B	$4.9B	$5.4B	$6.6B	$5.9B	$3.8B	$5.1B	$638.0M	$1.4B
TT Dec	$1.3B	$1.3B	$1.1B	$1.7B	$1.3B	$1.4B	$1.2B	$2.1B	$2.8B	$2.8B
WM Dec	$1.7B	$1.6B	$1.9B	$2.1B	$1.8B	$2.3B	$1.7B	$1.8B	$2.2B	$2.8B
LHX Jan	$772.0M	$450.0M	$615.0M	$1.0B	$2.4B	$2.3B	$1.9B	$1.6B	$2.2B	$2.7B
CARR Dec	-	-	$1.8B	$1.8B	$1.4B	$1.9B	$1.4B	$2.2B	$44.0M	$2.1B
UNP Dec	$4.0B	$4.0B	$5.2B	$5.2B	$5.6B	$6.1B	$5.7B	$4.8B	$5.9B	$5.5B
PH Jun	$1.1B	$1.1B	$1.3B	$1.5B	$1.8B	$2.4B	$2.2B	$2.6B	$3.0B	$3.3B
ADP Jun	-	-	-	-	-	-	-	-	-	-
EME Dec	$222.7M	$331.4M	$227.5M	$307.3M	$758.4M	$282.6M	$448.6M	$821.3M	$1.3B	$1.2B
Peer median	$1.3B	$1.3B	$1.6B	$1.8B	$1.8B	$2.3B	$1.8B	$2.1B	$2.2B	$2.7B

FCF margin, FY2016 to FY2025

Free cash flow / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
JCI Sep	3.2%	−1.3%	2.8%	4.8%	9.1%	8.4%	3.6%	6.3%	4.7%	9.0%
MMM Dec	17.4%	15.4%	14.8%	16.7%	20.5%	16.5%	14.7%	20.6%	2.6%	5.6%
TT Dec	9.9%	9.2%	9.1%	13.1%	10.3%	9.7%	7.6%	11.8%	14.0%	13.2%
WM Dec	12.2%	11.1%	12.7%	13.3%	11.9%	12.8%	8.8%	8.9%	9.8%	11.2%
LHX Jan	12.9%	7.6%	9.9%	15.1%	13.3%	13.2%	11.2%	8.5%	10.1%	-
CARR Dec	-	-	9.5%	9.8%	7.9%	9.2%	8.2%	11.4%	0.2%	9.8%
UNP Dec	20.2%	18.8%	23.0%	23.8%	28.7%	28.0%	23.1%	19.8%	24.3%	22.4%
PH Jun	9.3%	9.1%	9.4%	10.7%	13.4%	16.5%	13.9%	13.6%	15.0%	16.8%
ADP Jun	-	-	-	-	-	-	-	-	-	-
EME Dec	2.9%	4.3%	2.8%	3.3%	8.6%	2.9%	4.1%	6.5%	9.2%	7.0%
Peer median	12.2%	9.2%	9.7%	13.2%	12.6%	13.0%	10.0%	11.6%	9.9%	11.2%

Return on equity, FY2016 to FY2025

Net income / shareholders' equity at the year end.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
JCI Sep	−3.6%	7.9%	10.2%	28.7%	3.6%	9.3%	9.4%	11.2%	10.6%	25.5%
MMM Dec	49.0%	42.0%	54.6%	44.9%	42.3%	39.4%	39.2%	−145.5%	108.6%	69.1%
TT Dec	22.2%	18.2%	19.0%	19.4%	13.3%	22.8%	28.8%	28.9%	34.4%	34.0%
WM Dec	22.3%	32.4%	30.7%	23.6%	20.1%	25.5%	32.7%	33.4%	33.3%	27.1%
LHX Jan	10.6%	18.7%	21.3%	28.2%	5.4%	9.6%	5.7%	6.5%	7.7%	8.2%
CARR Dec	-	-	19.2%	15.0%	30.1%	23.5%	43.8%	15.0%	38.9%	10.5%
UNP Dec	21.2%	43.1%	29.2%	32.7%	31.5%	46.1%	57.5%	43.1%	39.9%	38.7%
PH Jun	17.6%	18.7%	18.1%	25.6%	19.3%	20.8%	14.9%	20.2%	23.6%	25.8%
ADP Jun	33.3%	45.0%	39.8%	42.5%	42.9%	45.8%	91.4%	97.2%	82.5%	65.9%
EME Dec	11.8%	13.6%	16.3%	15.8%	6.5%	17.0%	20.6%	25.6%	34.3%	34.6%
Peer median	21.7%	25.5%	21.3%	25.6%	20.1%	23.5%	32.7%	25.6%	34.4%	34.0%

Debt / equity, FY2016 to FY2025

Total debt / shareholders' equity at the year end.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
JCI Sep	0.53	0.66	0.52	0.36	0.45	0.44	0.52	0.53	0.59	0.77
MMM Dec	1.21	1.30	1.57	2.20	1.46	1.15	1.08	3.34	3.40	2.68
TT Dec	0.63	0.57	0.58	0.86	0.94	0.83	0.97	0.80	0.70	0.62
WM Dec	1.76	1.58	1.60	1.91	1.85	1.88	2.19	2.35	2.90	2.29
LHX Jan	1.35	1.39	1.16	1.05	0.34	0.37	0.38	0.70	0.63	0.57
CARR Dec	-	-	-	0.02	1.55	1.37	1.09	1.59	0.85	0.84
UNP Dec	0.75	0.68	1.11	1.40	1.58	2.13	2.76	2.20	1.85	1.72
PH Jun	0.66	1.12	0.85	1.19	1.36	0.78	1.29	1.22	0.87	0.68
ADP Jun	0.45	0.50	0.42	0.37	0.17	0.53	0.93	0.85	0.66	1.41
EME Dec	0.27	0.19	0.17	0.14	0.13	0.12	0.13	0.00	-	-
Peer median	0.71	0.90	0.98	1.05	1.36	0.83	1.08	1.22	0.86	1.12

EPS (diluted), FY2016 to FY2025

Diluted earnings per share, on today's share count after splits.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
JCI Sep	−$1.29	$1.71	$2.32	$6.49	$0.84	$2.27	$2.19	$2.69	$2.52	$5.03
MMM Dec	$8.16	$7.93	$8.89	$7.72	$9.36	$10.12	$10.18	−$12.63	$7.55	$6.00
TT Dec	$5.65	$5.05	$5.35	$5.77	$3.52	$5.87	$7.48	$8.77	$11.24	$12.98
WM Dec	$2.65	$4.41	$4.45	$3.91	$3.52	$4.29	$5.39	$5.66	$6.81	$6.70
LHX Jan	$2.59	$4.36	$5.76	$7.86	$5.19	$9.09	$5.49	$6.44	$7.87	$8.53
CARR Dec	-	-	$3.16	$2.44	$2.25	$1.87	$4.10	$1.58	$6.15	$1.72
UNP Dec	$5.07	$13.36	$7.91	$8.38	$7.88	$9.95	$11.21	$10.45	$11.09	$11.98
PH Jun	$5.89	$7.25	$7.83	$11.57	$9.26	$13.35	$10.09	$16.04	$21.84	$27.12
ADP Jun	$3.25	$3.97	$4.25	$5.24	$5.70	$6.07	$7.00	$8.21	$9.10	$9.98
EME Dec	$2.97	$3.82	$4.85	$5.75	$2.40	$7.06	$8.10	$13.31	$21.52	$28.19
Peer median	$4.16	$4.73	$5.35	$5.77	$5.19	$7.06	$7.48	$8.21	$9.10	$9.98

Fiscal years are lined up as each company's 10-K names them; the month next to a ticker is when its year ends. Hover a number for the XBRL line items and the filing; click it to open the filing on sec.gov. "n/m" means not meaningful: equity below zero, or a base so close to zero that the ratio says nothing. The peer median leaves out JCI and needs at least three peers with the number. P/E, P/S and P/FCF at each year end appear here once the site has daily prices. What the same companies write about AI, tariffs and more →

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