Question 1

What is Johnson Controls's P/FCF ratio?

Accepted Answer

Johnson Controls (JCI) P/FCF ratio is 62.5× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for Johnson Controls?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For Johnson Controls specifically, the relevant sector benchmark is the current sector median of 24.3×.

Question 5

Is Johnson Controls's P/FCF ratio high or low?

Accepted Answer

Johnson Controls's P/FCF ratio of 62.5× is above its own 5-year average of 35.6× and above the sector median of 24.3×. That places the current reading at the 88th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Johnson Controls's historical P/FCF ratio range?

Accepted Answer

In the available daily series, Johnson Controls (JCI) P/FCF ratio has ranged from a low of 7.5× in 2010 to a high of 89.4× in 2016. The 5-year average is 35.6× and the 5-year median is 30.9×.

Question 7

What was Johnson Controls's P/FCF ratio in 2025?

Accepted Answer

Johnson Controls (JCI) P/FCF ratio at the end of 2025 was 71.9×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does Johnson Controls's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$69.4B	$965M	71.9×	+40.2×	Sep 30, 2025
2024	$51.6B	$1.63B	31.7×	+10.2×	Sep 30, 2024
2023	$36.1B	$1.68B	21.5×	-2.5×	Sep 30, 2023
2022	$33.4B	$1.39B	24.0×	+0.1×	Sep 30, 2022
2021	$46.2B	$1.94B	23.9×	+7.0×	Sep 30, 2021
2020	$30B	$1.78B	16.9×	-52.1×	Sep 30, 2020
2019	$34.4B	$499M	69.0×	+55.6×	Sep 30, 2019
2018	$23.9B	$1.79B	13.4×	—	Sep 30, 2018
2017	$27.4B	-$1.31B	—	—	Sep 30, 2017
2016	$28.3B	$646M	43.8×	-2.0×	Sep 30, 2016
2015	$21.3B	$465M	45.8×	+22.1×	Sep 30, 2015
2014	$28.4B	$1.2B	23.7×	+6.7×	Sep 30, 2014
2013	$22.3B	$1.31B	17.0×	—	Sep 30, 2013
2012	$18.1B	-$272M	—	—	Sep 30, 2012
2011	$12.7B	-$249M	—	—	Sep 30, 2011
2010	$11.5B	$737M	15.6×	-24.3×	Sep 30, 2010
2009	$10.8B	$270M	39.9×	+30.0×	Sep 30, 2009
2008	$10.9B	$1.1B	9.9×	-3.1×	Sep 30, 2008
2007	$14.1B	$1.09B	13.0×	-6.3×	Sep 30, 2007
2006	$13.6B	$706M	19.3×	-37.3×	Sep 30, 2006
2005	$13.6B	$240M	56.6×	+32.7×	Sep 30, 2005
2004	$15B	$626M	23.9×	-46.1×	Sep 30, 2004
2003	$9.96B	$142M	70.0×	+56.0×	Sep 30, 2003
2002	$6.88B	$493M	14.0×	—	Sep 30, 2002


Thomson Reuters (TRI)	18.8×
PACCAR (PCAR)	18.6×
United Parcel Service (UPS)	18.5×
Gorman-Rupp (GRC)	18.5×
Alamo Group (ALG)	18.0×
Allegion (ALLE)	17.8×
Snap-on (SNA)	17.6×
United Airlines Holdings (UAL)	17.5×
Honeywell International (HON)	17.4×
Equifax (EFX)	17.0×
Norfolk Southern (NSC)	16.9×
FedEx (FDX)	15.9×
AGCO (AGCO)	15.4×
General Dynamics (GD)	15.3×
Carlisle Companies (CSL)	14.7×
Amentum Holdings (AMTM)	14.7×
Stanley Black & Decker (SWK)	14.4×
A. O. Smith (AOS)	14.2×
Huntington Ingalls Industries (HII)	14.1×
McGrath RentCorp (MGRC)	13.9×
Masco (MAS)	13.0×
Pool (POOL)	12.2×
Delta Air Lines (DAL)	10.1×
ABM Industries (ABM)	7.2×
Upwork (UPWK)	6.3×

P/FCF Ratio for Johnson Controls (JCI) 2002-2026

P/FCF Ratio daily chart for Johnson Controls (JCI)

Historical P/FCF Ratio for Johnson Controls (JCI) from 2002 to 2025

About P/FCF Ratio at Johnson Controls (JCI)

Johnson Controls P/FCF Ratio by Year

Johnson Controls P/FCF Ratio 2025: 71.9×

Johnson Controls P/FCF Ratio 2024: 31.7×

Johnson Controls P/FCF Ratio 2023: 21.5×

Johnson Controls P/FCF Ratio 2022: 24.0×

Johnson Controls P/FCF Ratio 2021: 23.9×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

Johnson Controls (JCI) Key Financials