Stock Analysis on Net
Stock Analysis on Net

Johnson Controls International plc (NYSE:JCI)

$22.49

This company has been moved to the archive! The financial data has not been updated since May 1, 2024.

Analysis of Long-term (Investment) Activity Ratios

Microsoft Excel

Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.

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Long-term Activity Ratios (Summary)

Johnson Controls International plc, long-term (investment) activity ratios

Microsoft Excel
Sep 30, 2023 Sep 30, 2022 Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018
Net fixed asset turnover
Net fixed asset turnover (including operating lease, right-of-use asset)
Total asset turnover
Equity turnover

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).

Net Fixed Asset Turnover
The net fixed asset turnover ratio demonstrated a consistent upward trend over the six-year period. Starting at 5.09 in 2018, the ratio increased steadily year-over-year, reaching 8.54 by 2023. This progression indicates an improving efficiency in utilizing fixed assets to generate revenue.
Net Fixed Asset Turnover Including Operating Lease, Right-of-Use Asset
When including operating leases and right-of-use assets, the turnover ratio exhibited a different pattern. It increased sharply from 5.09 in 2018 to 7.16 in 2019 but then declined significantly to around 5.25 in 2020 and further slightly decreased to 5.14 in 2021. After that, it showed gradual improvement, reaching 5.92 by 2023. This suggests initial challenges in asset utilization upon recognizing lease assets, followed by a recovery phase.
Total Asset Turnover
The total asset turnover ratio showed a slight decline from 0.64 in 2018 to 0.55 in 2020, which may reflect a decrease in overall asset efficiency. However, a modest recovery was observed in subsequent years, with the ratio reaching 0.63 by 2023, nearly matching the initial level. This suggests a stabilization and slight improvement in the ability to generate sales from total assets.
Equity Turnover
Equity turnover decreased from 1.48 in 2018 to 1.21 in 2019, indicating reduced efficiency in generating revenue from shareholders' equity. From 2019 onward, this ratio improved progressively each year, peaking at 1.62 in 2023. This upward movement points to better revenue generation relative to equity over time, possibly reflecting effective capital management.

Net Fixed Asset Turnover

Johnson Controls International plc, net fixed asset turnover calculation, comparison to benchmarks

Microsoft Excel
Sep 30, 2023 Sep 30, 2022 Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018
Selected Financial Data (US$ in millions)
Net sales
Property, plant and equipment, net
Long-term Activity Ratio
Net fixed asset turnover1
Benchmarks
Net Fixed Asset Turnover, Competitors2
Boeing Co.
Caterpillar Inc.
Eaton Corp. plc
GE Aerospace
Honeywell International Inc.
Lockheed Martin Corp.
RTX Corp.
Net Fixed Asset Turnover, Sector
Capital Goods
Net Fixed Asset Turnover, Industry
Industrials

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).

1 2023 Calculation
Net fixed asset turnover = Net sales ÷ Property, plant and equipment, net
= ÷ =

2 Click competitor name to see calculations.

Net Sales
The net sales exhibit a declining trend from 2018 to 2020, dropping from 31,400 million USD in 2018 to 22,317 million USD in 2020. Following this period, there is a recovery with sales increasing to 23,668 million USD in 2021, continuing upward to 25,299 million USD in 2022, and reaching 26,793 million USD in 2023. Overall, despite the decrease in early years, net sales show a positive rebound and growth in the later years.
Property, Plant and Equipment, Net
The net value of property, plant, and equipment steadily decreases from 6,171 million USD in 2018 to 3,059 million USD in 2020. This is followed by a moderate stabilization and a slight increase in subsequent years, with values of 3,228 million USD in 2021, 3,042 million USD in 2022, and 3,136 million USD in 2023. The initial significant reduction may indicate asset disposals or revaluations, while the later period reflects maintenance or minor additions of fixed assets.
Net Fixed Asset Turnover
The net fixed asset turnover ratio consistently increases over the entire period, starting at 5.09 in 2018 and rising steadily to 8.54 in 2023. This improving ratio suggests enhanced efficiency in utilizing fixed assets to generate sales. The upward trend indicates that despite a decrease in fixed asset values, the company has been able to generate progressively higher revenues per unit of fixed assets employed.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

Johnson Controls International plc, net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks

Microsoft Excel
Sep 30, 2023 Sep 30, 2022 Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018
Selected Financial Data (US$ in millions)
Net sales
 
Property, plant and equipment, net
Operating lease right-of-use assets (included in Other noncurrent assets)
Property, plant and equipment, net (including operating lease, right-of-use asset)
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
Boeing Co.
Caterpillar Inc.
Eaton Corp. plc
GE Aerospace
Honeywell International Inc.
Lockheed Martin Corp.
RTX Corp.
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
Capital Goods
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Industrials

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).

1 2023 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Net sales ÷ Property, plant and equipment, net (including operating lease, right-of-use asset)
= ÷ =

2 Click competitor name to see calculations.

Net Sales
Net sales exhibited a notable decline from 31,400 million US dollars in 2018 to 23,968 million US dollars in 2019, continuing to decrease to 22,317 million US dollars in 2020. However, from 2021 onwards, net sales demonstrated a recovery trend, increasing to 23,668 million US dollars in 2021, 25,299 million US dollars in 2022, and reaching 26,793 million US dollars in 2023. This suggests a period of contraction followed by gradual growth in sales over the latter three years.
Property, Plant, and Equipment, Net
The net value of property, plant, and equipment, including operating lease right-of-use assets, decreased significantly from 6,171 million US dollars in 2018 to 3,348 million US dollars in 2019. Subsequently, it increased to 4,249 million US dollars in 2020 and continued a gradual upward trend through 2021 and 2023, with values of 4,604 million, 4,313 million, and 4,525 million US dollars, respectively. This indicates an initial large reduction in fixed assets held, followed by steady reinvestment or asset accumulation in recent years.
Net Fixed Asset Turnover
The net fixed asset turnover ratio, which measures sales generated per unit of net fixed assets, rose sharply from 5.09 in 2018 to 7.16 in 2019. It then declined to 5.25 in 2020 and remained relatively stable with slight fluctuations in subsequent years: 5.14 in 2021, 5.87 in 2022, and 5.92 in 2023. The peak in 2019 suggests a significant improvement in asset utilization efficiency during that year, followed by a normalization in efficiency levels closer to the earlier baseline, with a modest uptrend in the latest years.

Total Asset Turnover

Johnson Controls International plc, total asset turnover calculation, comparison to benchmarks

Microsoft Excel
Sep 30, 2023 Sep 30, 2022 Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018
Selected Financial Data (US$ in millions)
Net sales
Total assets
Long-term Activity Ratio
Total asset turnover1
Benchmarks
Total Asset Turnover, Competitors2
Boeing Co.
Caterpillar Inc.
Eaton Corp. plc
GE Aerospace
Honeywell International Inc.
Lockheed Martin Corp.
RTX Corp.
Total Asset Turnover, Sector
Capital Goods
Total Asset Turnover, Industry
Industrials

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).

1 2023 Calculation
Total asset turnover = Net sales ÷ Total assets
= ÷ =

2 Click competitor name to see calculations.

Net Sales
Net sales depict a fluctuating pattern over the examined periods. Starting at 31,400 million US dollars in 2018, there is a noticeable decline in 2019 and 2020, reaching a low of 22,317 million. From 2021 onwards, a gradual recovery and growth trend is evident, with net sales increasing to 23,668 million in 2021 and continuing to rise to 26,793 million by 2023. The overall trajectory after 2020 suggests an improving sales performance.
Total Assets
Total assets demonstrate a downward trend from 48,797 million US dollars in 2018 to 40,815 million in 2020. Post-2020, total assets slightly increase and then stabilize, reaching 42,242 million by 2023. This indicates a period of asset contraction followed by a phase of consolidation with relatively stable asset levels in recent years.
Total Asset Turnover
The total asset turnover ratio, indicating efficiency in using assets to generate sales, shows an initial decline from 0.64 in 2018 to a low of 0.55 in 2020. Subsequently, there is a steady improvement each year, rising to 0.63 in 2023. This trend aligns with the recovery in net sales and stabilization in asset levels, suggesting enhanced asset utilization efficiency in generating revenue over this time frame.

Equity Turnover

Johnson Controls International plc, equity turnover calculation, comparison to benchmarks

Microsoft Excel
Sep 30, 2023 Sep 30, 2022 Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018
Selected Financial Data (US$ in millions)
Net sales
Shareholders’ equity attributable to Johnson Controls
Long-term Activity Ratio
Equity turnover1
Benchmarks
Equity Turnover, Competitors2
Boeing Co.
Caterpillar Inc.
Eaton Corp. plc
GE Aerospace
Honeywell International Inc.
Lockheed Martin Corp.
RTX Corp.
Equity Turnover, Sector
Capital Goods
Equity Turnover, Industry
Industrials

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).

1 2023 Calculation
Equity turnover = Net sales ÷ Shareholders’ equity attributable to Johnson Controls
= ÷ =

2 Click competitor name to see calculations.

Net Sales
Net sales exhibited a significant decline from 31,400 million USD in 2018 to 23,968 million USD in 2019, followed by a further decrease to 22,317 million USD in 2020. After this downward trend, net sales showed a recovery, increasing to 23,668 million USD in 2021, 25,299 million USD in 2022, and 26,793 million USD in 2023. This indicates a period of contraction during 2019-2020, succeeded by gradual growth in subsequent years.
Shareholders’ Equity Attributable to Johnson Controls
The shareholders' equity attributable to the company has been on a consistent declining trajectory from 21,164 million USD in 2018 to 16,545 million USD in 2023. The equity value decreased each year except for a slight increase from 17,447 million USD in 2020 to 17,562 million USD in 2021. Despite this minor recovery, the overall trend reflects a reduction in equity over the six-year period.
Equity Turnover
The equity turnover ratio experienced an initial decline from 1.48 in 2018 to 1.21 in 2019, followed by a gradual increase over the years. It rose to 1.28 in 2020, then to 1.35 in 2021, with a more pronounced improvement reaching 1.56 in 2022 and 1.62 in 2023. This trend suggests improving efficiency in the use of equity to generate sales, especially notable in the last two years.