Price to Earnings (P/E)
since 2005
Calculation
Johnson Controls International plc, P/E, long-term trends, calculation
| P/E | = | Share price1, 2, 3 | ÷ | Earnings per share1 (EPS) | EPS1 | = | Net income (loss) attributable to Johnson Controls1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dec 14, 2023 | 19.92 | = | 54.10 | ÷ | 2.72 | 2.72 | = | 1,849 | ÷ | 680,673,839 | |
| Nov 15, 2022 | 29.76 | = | 66.40 | ÷ | 2.23 | 2.23 | = | 1,532 | ÷ | 686,703,889 | |
| Nov 15, 2021 | 33.70 | = | 78.33 | ÷ | 2.32 | 2.32 | = | 1,637 | ÷ | 704,332,395 | |
| Nov 16, 2020 | 52.04 | = | 45.36 | ÷ | 0.87 | 0.87 | = | 631 | ÷ | 723,907,803 | |
| Nov 21, 2019 | 5.74 | = | 42.23 | ÷ | 7.36 | 7.36 | = | 5,674 | ÷ | 771,419,761 | |
| Nov 20, 2018 | 14.25 | = | 33.34 | ÷ | 2.34 | 2.34 | = | 2,162 | ÷ | 924,058,960 | |
| Nov 21, 2017 | 20.68 | = | 36.00 | ÷ | 1.74 | 1.74 | = | 1,611 | ÷ | 925,435,012 | |
| Nov 23, 2016 | — | = | 45.61 | ÷ | -0.93 | -0.93 | = | -868 | ÷ | 936,718,105 | |
| Nov 18, 2015 | 14.85 | = | 35.84 | ÷ | 2.41 | 2.41 | = | 1,563 | ÷ | 647,676,732 | |
| Nov 19, 2014 | 22.82 | = | 41.62 | ÷ | 1.82 | 1.82 | = | 1,215 | ÷ | 666,188,889 | |
| Nov 21, 2013 | 21.92 | = | 37.68 | ÷ | 1.72 | 1.72 | = | 1,178 | ÷ | 685,160,911 | |
| Nov 19, 2012 | 15.06 | = | 27.00 | ÷ | 1.79 | 1.79 | = | 1,226 | ÷ | 683,797,753 | |
| Nov 22, 2011 | 19.04 | = | 45.44 | ÷ | 2.39 | 2.39 | = | 1,624 | ÷ | 680,381,571 | |
| Nov 23, 2010 | 16.93 | = | 37.43 | ÷ | 2.21 | 2.21 | = | 1,491 | ÷ | 674,375,572 | |
| Nov 25, 2009 | — | = | 36.47 | ÷ | -0.50 | -0.50 | = | -338 | ÷ | 671,080,237 | |
| Nov 25, 2008 | 12.24 | = | 20.16 | ÷ | 1.65 | 1.65 | = | 979 | ÷ | 594,179,011 | |
| Nov 29, 2007 | 18.93 | = | 39.91 | ÷ | 2.11 | 2.11 | = | 1,252 | ÷ | 593,815,378 | |
| Dec 5, 2006 | 5.78 | = | 10.11 | ÷ | 1.75 | 1.75 | = | 1,028 | ÷ | 587,361,150 | |
| Dec 9, 2005 | 6.02 | = | 9.46 | ÷ | 1.57 | 1.57 | = | 909 | ÷ | 578,918,610 |
Based on: 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-30).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Johnson Controls International plc Annual Report.
The analysis of valuation metrics from 2005 to 2023 reveals significant volatility in the price-to-earnings (P/E) ratio, driven by both erratic fluctuations in earnings per share (EPS) and substantial shifts in market share price.
- Early Valuation and Expansion (2005–2007)
- The period began with low P/E multiples, ranging between 5.78 and 6.02. A sharp inflection occurred in 2007, where the P/E ratio expanded to 18.93, corresponding with a significant increase in share price from approximately 10 US$ to nearly 40 US$.
- Mid-Term Stability and Disruptions (2008–2015)
- Valuation multiples generally stabilized between 12.24 and 22.82 during this window. However, a notable disruption occurred in 2009 when negative earnings per share rendered the P/E ratio unavailable. Following this, the ratio remained relatively consistent, peaking at 22.82 in 2014 before retreating to 14.85 in 2015.
- Earnings Volatility and Valuation Extremes (2016–2020)
- This period was characterized by extreme fluctuations. Negative EPS in 2016 again resulted in an undefined P/E ratio. In 2019, a substantial spike in EPS to 7.36 US$ led to a valuation compression, bringing the P/E ratio down to 5.74. This was immediately followed by a sharp reversal in 2020; as EPS dropped to 0.87 US$ while the share price remained elevated, the P/E ratio surged to a period high of 52.04.
- Recent Trends and Normalization (2021–2023)
- Following the peak in 2020, the P/E ratio began a gradual downward trajectory. Despite a peak share price of 78.33 US$ in 2021, the ratio compressed from 33.70 in 2021 to 19.92 by December 2023. This trend suggests a normalization of valuation as earnings per share recovered and stabilized between 2.23 US$ and 2.72 US$.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.
How can I help you?
Comparison to Competitors
Johnson Controls International plc, P/E, long-term trends, comparison to competitors
| Johnson Controls International plc | Boeing Co. | Caterpillar Inc. | Eaton Corp. plc | GE Aerospace | Honeywell International Inc. | Lockheed Martin Corp. | RTX Corp. | |
|---|---|---|---|---|---|---|---|---|
| Dec 14, 2023 | 19.92 | — | 15.55 | 35.88 | 16.18 | 22.73 | 15.35 | 38.31 |
| Nov 15, 2022 | 29.76 | — | 19.15 | 27.93 | — | 26.97 | 20.48 | 27.59 |
| Nov 15, 2021 | 33.70 | — | 16.82 | 27.77 | — | 23.14 | 16.70 | 36.79 |
| Nov 16, 2020 | 52.04 | — | 36.80 | 37.46 | 19.67 | 29.63 | 13.44 | — |
| Nov 21, 2019 | 5.74 | — | 12.36 | 18.06 | — | 20.97 | 19.87 | 24.41 |
| Nov 20, 2018 | 14.25 | 21.87 | 12.42 | 15.92 | — | 16.02 | 16.88 | 19.74 |
| Nov 21, 2017 | 20.68 | 24.68 | 126.80 | 11.90 | — | 67.20 | 48.70 | 21.97 |
| Nov 23, 2016 | — | 20.50 | — | 16.96 | 32.22 | 19.29 | 14.14 | 17.55 |
| Nov 18, 2015 | 14.85 | 14.89 | 18.07 | 13.17 | — | 16.70 | 18.36 | 9.31 |
| Nov 19, 2014 | 22.82 | 19.15 | 14.01 | 18.73 | 17.17 | 19.27 | 16.86 | 17.52 |
| Nov 21, 2013 | 21.92 | 21.10 | 16.25 | 19.35 | 19.59 | 18.91 | 17.56 | 17.51 |
| Nov 19, 2012 | 15.06 | 14.71 | 11.02 | 23.99 | 17.57 | 18.78 | 10.34 | 16.07 |
| Nov 22, 2011 | 19.04 | 14.09 | 15.11 | 12.83 | 15.52 | 22.54 | 10.81 | 15.29 |
| Nov 23, 2010 | 16.93 | 16.17 | 24.14 | 19.59 | 19.49 | 22.48 | 9.58 | 17.84 |
| Nov 25, 2009 | — | 33.40 | 40.66 | 29.60 | 16.09 | 13.44 | 9.56 | 16.33 |
| Nov 25, 2008 | 12.24 | 11.63 | 4.51 | 5.65 | 6.62 | 8.71 | 8.47 | 9.57 |
| Nov 29, 2007 | 18.93 | 15.99 | 12.54 | 11.89 | 15.45 | 17.07 | 14.15 | 16.61 |
| Dec 5, 2006 | 5.78 | 32.40 | 12.28 | 12.47 | 17.11 | 18.37 | 16.95 | 18.16 |
| Dec 9, 2005 | 6.02 | 22.62 | 17.17 | 12.82 | 21.07 | 20.71 | 17.45 | 18.76 |
Based on: 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-30).
Comparison to Sector (Capital Goods)
Johnson Controls International plc, P/E, long-term trends, comparison to sector (capital goods)
| Johnson Controls International plc | Capital Goods | |
|---|---|---|
| Dec 14, 2023 | 19.92 | 25.10 |
| Nov 15, 2022 | 29.76 | 40.21 |
| Nov 15, 2021 | 33.70 | 57.31 |
| Nov 16, 2020 | 52.04 | 123.55 |
| Nov 21, 2019 | 5.74 | 39.03 |
| Nov 20, 2018 | 14.25 | 56.00 |
| Nov 21, 2017 | 20.68 | 55.16 |
| Nov 23, 2016 | — | 23.62 |
| Nov 18, 2015 | 14.85 | 33.10 |
| Nov 19, 2014 | 22.82 | 17.47 |
| Nov 21, 2013 | 21.92 | 18.85 |
| Nov 19, 2012 | 15.06 | 15.74 |
| Nov 22, 2011 | 19.04 | 15.20 |
| Nov 23, 2010 | 16.93 | 18.46 |
| Nov 25, 2009 | — | 17.22 |
| Nov 25, 2008 | 12.24 | 7.48 |
| Nov 29, 2007 | 18.93 | 15.28 |
| Dec 5, 2006 | 5.78 | 17.63 |
| Dec 9, 2005 | 6.02 | 20.11 |
Based on: 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-30).
Comparison to Industry (Industrials)
Johnson Controls International plc, P/E, long-term trends, comparison to industry (industrials)
| Johnson Controls International plc | Industrials | |
|---|---|---|
| Dec 14, 2023 | 19.92 | 24.85 |
| Nov 15, 2022 | 29.76 | 36.06 |
| Nov 15, 2021 | 33.70 | 35.59 |
| Nov 16, 2020 | 52.04 | — |
| Nov 21, 2019 | 5.74 | 43.95 |
| Nov 20, 2018 | 14.25 | 33.70 |
| Nov 21, 2017 | 20.68 | 29.83 |
| Nov 23, 2016 | — | 22.92 |
| Nov 18, 2015 | 14.85 | 22.89 |
| Nov 19, 2014 | 22.82 | 18.79 |
| Nov 21, 2013 | 21.92 | 19.13 |
| Nov 19, 2012 | 15.06 | 17.77 |
| Nov 22, 2011 | 19.04 | 15.75 |
| Nov 23, 2010 | 16.93 | 18.72 |
| Nov 25, 2009 | — | 19.17 |
| Nov 25, 2008 | 12.24 | 9.73 |
| Nov 29, 2007 | 18.93 | 16.93 |
| Dec 5, 2006 | 5.78 | 11.65 |
| Dec 9, 2005 | 6.02 | 50.62 |
Based on: 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-30).