Analysis of Profitability Ratios
Quarterly Data
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Enterprise Value (EV)
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Dividend Discount Model (DDM)
- Price to Book Value (P/BV) since 2005
- Analysis of Revenues
- Analysis of Debt
- Aggregate Accruals
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Profitability Ratios (Summary)
Johnson Controls International plc, profitability ratios (quarterly data)
Based on: 10-Q (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-K (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-K (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-K (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31).
- Gross Profit Margin
- The gross profit margin showed a gradual upward trend from 30.36% at the end of 2018 to a peak around 34.05% in the third quarter of 2021. Following this peak, there was a slight decline and fluctuations, ending at 32.84% in the first quarter of 2024. This suggests overall improvement in cost control or pricing strategies until 2021, with some stabilization or minor contraction in subsequent periods.
- Operating Profit Margin
- Operating profit margin exhibited volatility over the observed periods. It started near 9.51% at the end of 2018 but declined notably through 2019 and early 2020, reaching a low of approximately 2.04% in mid-2020. Thereafter, it recovered significantly to reach above 10% in late 2021, before tapering again to around 5.3% in early 2024. This pattern indicates challenges impacting operating profitability during 2019-2020, followed by a strong recovery phase and subsequent moderation.
- Net Profit Margin
- Net profit margin displayed marked fluctuations, including an unusual spike to over 22% during mid-2019 quarters. This spike was followed by a sharp contraction into single digits throughout 2020 and 2021. Modest recovery occurred subsequently with margins rising closer to 7-8% by late 2023, before a slight fall to 6.32% in early 2024. The irregular pattern suggests episodic gains or items impacting net income and volatile bottom-line performance.
- Return on Equity (ROE)
- ROE mirrored net margin trends but on a higher magnitude, showing a substantial surge to nearly 29% during mid-2019 quarters, followed by a dramatic decline to below 5% in 2020. A recovery phase ensued with ROE reaching above 12% by late 2023, then a moderate decrease to 10.83% in the first quarter of 2024. This highlights significant variability in equity returns, indicating periods of strong profitability interrupted by downturns likely tied to earnings volatility.
- Return on Assets (ROA)
- ROA followed a pattern similar to ROE but at lower levels, peaking around 13.5% in mid-2019 and dipping sharply to below 2% in 2020. A gradual recovery was observed thereafter, with ROA rising to about 4.8% by late 2023 and slightly declining to 3.9% in early 2024. These movements reflect changes in asset efficiency and profitability, revealing sensitivity to the same factors affecting the broader profit metrics.
Return on Sales
Return on Investment
Gross Profit Margin
Johnson Controls International plc, gross profit margin calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Gross profit | |||||||||||||||||||||||||||||
| Net sales | |||||||||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||||||||
| Gross profit margin1 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Gross Profit Margin, Competitors2 | |||||||||||||||||||||||||||||
| Boeing Co. | |||||||||||||||||||||||||||||
| Caterpillar Inc. | |||||||||||||||||||||||||||||
| Eaton Corp. plc | |||||||||||||||||||||||||||||
| GE Aerospace | |||||||||||||||||||||||||||||
| Honeywell International Inc. | |||||||||||||||||||||||||||||
| Lockheed Martin Corp. | |||||||||||||||||||||||||||||
| RTX Corp. | |||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-K (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-K (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-K (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31).
1 Q2 2024 Calculation
Gross profit margin = 100
× (Gross profitQ2 2024
+ Gross profitQ1 2024
+ Gross profitQ4 2023
+ Gross profitQ3 2023)
÷ (Net salesQ2 2024
+ Net salesQ1 2024
+ Net salesQ4 2023
+ Net salesQ3 2023)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
- Net Sales Analysis
- Net sales exhibit a fluctuating pattern over the observed periods. Starting at 5,464 million USD at the end of 2018, sales generally increased through mid-2019, peaking at 6,451 million USD in June 2019. Subsequently, there was a decline towards the end of 2019, falling to 5,576 million USD by December 2019. Through 2020, net sales remained relatively stable with slight declines and rebounds, reaching 5,954 million USD by September 2020 before dropping again in December 2020 to 5,341 million USD. From 2021 onward, net sales showed a recovery and consistent upward trend, hitting a high of 7,133 million USD in September 2023. However, this was followed by a slight decrease in the last two quarters, descending to 6,699 million USD in March 2024.
- Gross Profit Trends
- Gross profit followed a somewhat similar cyclical pattern as net sales but with less pronounced volatility. Initial gross profit stood at 1,725 million USD in December 2018, reached a peak of 2,197 million USD in June 2021, and experienced multiple fluctuations thereafter. Notably, gross profit increased steadily after March 2022, peaking at 2,431 million USD in June 2023 before slightly declining to 2,181 million USD by the most recent period in March 2024.
- Gross Profit Margin Developments
- The gross profit margin showed a gradual upward trend over the entire period, beginning at 30.36% in December 2018. This margin consistently improved, reaching above 33% starting in the second half of 2019 and further peaking at 34.05% in September 2021. Although there was some minor fluctuation, the margin maintained a relatively high level above 32.8% in the latest quarter of March 2024, indicating an overall enhancement in cost efficiency or pricing power over time.
- Overall Financial Insights
- The financial data reveals that while net sales exhibited some volatility, there has been a general upward trajectory since the downturn experienced in late 2019 and early 2020. Gross profit has similarly recovered, displaying growth consistent with increased sales volumes and stable margin improvements. The sustained increase in gross profit margin suggests successful management of production costs or favorable shifts in product mix and pricing strategies. The combination of higher gross profits and robust margins in recent quarters points to improved profitability and operational effectiveness for the company.
Operating Profit Margin
Johnson Controls International plc, operating profit margin calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Operating income (loss) | |||||||||||||||||||||||||||||
| Net sales | |||||||||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||||||||
| Operating profit margin1 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Operating Profit Margin, Competitors2 | |||||||||||||||||||||||||||||
| Boeing Co. | |||||||||||||||||||||||||||||
| Caterpillar Inc. | |||||||||||||||||||||||||||||
| Eaton Corp. plc | |||||||||||||||||||||||||||||
| GE Aerospace | |||||||||||||||||||||||||||||
| Honeywell International Inc. | |||||||||||||||||||||||||||||
| Lockheed Martin Corp. | |||||||||||||||||||||||||||||
| RTX Corp. | |||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-K (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-K (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-K (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31).
1 Q2 2024 Calculation
Operating profit margin = 100
× (Operating income (loss)Q2 2024
+ Operating income (loss)Q1 2024
+ Operating income (loss)Q4 2023
+ Operating income (loss)Q3 2023)
÷ (Net salesQ2 2024
+ Net salesQ1 2024
+ Net salesQ4 2023
+ Net salesQ3 2023)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
- Net Sales
- Net sales exhibited noticeable fluctuations over the observed periods without a clear long-term upward or downward trajectory. Initial quarterly sales ranged around 5,400 to 6,450 million US dollars, with variations indicative of seasonal or market-driven factors. The data shows a moderate increase into 2021, peaking around 6,725 million, followed by some decline and variability toward early 2024, ending near 6,699 million. Overall, net sales demonstrate resilience but lack consistent growth momentum.
- Operating Income
- Operating income displayed significant volatility throughout the quarters. Starting from a positive 287 million US dollars, it saw an increase to a peak of 780 million within 2021, signaling periods of strong operational profitability. However, intermittent quarters experienced losses or sharp decreases, including a notable negative figure recorded near -324 million by early 2024. This pattern suggests operational challenges and varying cost or revenue structures impacting profitability sporadically.
- Operating Profit Margin
- The operating profit margin fluctuated between lows near 2% and highs approaching 11%. The margin declined from around 9.5% at the end of 2018 to lows below 5% during some 2019 and 2020 quarters, indicating compressed profitability. Margins recovered above 10% in mid-to-late 2021, suggesting improved operational efficiency or pricing power during that interval. Subsequently, margins experienced a gradual decrease moving toward 2024, settling around 5.3%, reflecting pressures on operating profitability amid changing business conditions.
- Summary
- Overall, the financial data reveals a company experiencing fluctuating demand and profitability levels. Net sales remained relatively stable but without clear growth momentum, while operating income and profit margins showed pronounced variability, highlighting periods of strong performance interspersed with operational difficulties. The variance in profitability margins suggests sensitivity to cost structures, pricing, or market conditions. Attention to stabilizing operating income and improving margin consistency would be beneficial for sustained financial health.
Net Profit Margin
Johnson Controls International plc, net profit margin calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Net income (loss) attributable to Johnson Controls | |||||||||||||||||||||||||||||
| Net sales | |||||||||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||||||||
| Net profit margin1 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Net Profit Margin, Competitors2 | |||||||||||||||||||||||||||||
| Boeing Co. | |||||||||||||||||||||||||||||
| Caterpillar Inc. | |||||||||||||||||||||||||||||
| Eaton Corp. plc | |||||||||||||||||||||||||||||
| GE Aerospace | |||||||||||||||||||||||||||||
| Honeywell International Inc. | |||||||||||||||||||||||||||||
| Lockheed Martin Corp. | |||||||||||||||||||||||||||||
| RTX Corp. | |||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-K (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-K (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-K (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31).
1 Q2 2024 Calculation
Net profit margin = 100
× (Net income (loss) attributable to Johnson ControlsQ2 2024
+ Net income (loss) attributable to Johnson ControlsQ1 2024
+ Net income (loss) attributable to Johnson ControlsQ4 2023
+ Net income (loss) attributable to Johnson ControlsQ3 2023)
÷ (Net salesQ2 2024
+ Net salesQ1 2024
+ Net salesQ4 2023
+ Net salesQ3 2023)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
- Net Income (Loss) Attributable to Johnson Controls
- The net income exhibits significant fluctuations throughout the observed periods. Initially, there is moderate income around 300 to 500 million USD, followed by a sharp peak to over 4 billion USD as of June 30, 2019. After this spike, net income declines substantially, even turning negative in June 2020. Moderate recovery occurs thereafter, with values generally stabilizing around 200 to 700 million USD. Toward the final periods, net income again shows volatility, including another negative figure in March 2024.
- Net Sales
- Net sales remain relatively stable within a range of approximately 5,300 to 7,100 million USD across the quarters. Some seasonal or cyclical variation is visible, with periodic rises and dips that appear consistent over multiple years. A slight upward trend in sales volume is evident from late 2021 to mid-2023, reaching peaks above 7,000 million USD, followed by a decline toward the latest recorded quarter.
- Net Profit Margin
- The net profit margin displays significant volatility, peaking strongly above 20% during early 2019 but generally stabilizing to a lower range of approximately 4% to 8% thereafter. The high margins recorded around mid-2019 are exceptional and not maintained in subsequent periods. More recent periods show margins consolidating between 5% and 8%, with occasional dips below 5%, reflecting moderate profitability consistency with occasional softness.
- Overall Trends and Insights
- The considerable spike in net income and profit margin in mid-2019 indicates the presence of either one-time gains or extraordinary items affecting profitability during that quarter. The return to lower income and margins afterward suggests normalization of operating conditions. The fluctuations in net income, including negative values, imply exposure to volatility potentially from operational challenges or economic factors. Net sales demonstrate consistent business activity with minor growth but do not directly correlate with net income trends, suggesting variable cost management or margin pressures. The profit margin's stabilization in the mid-single-digit percentage range highlights moderate efficiency and profitability under typical operating circumstances.
Return on Equity (ROE)
Johnson Controls International plc, ROE calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Net income (loss) attributable to Johnson Controls | |||||||||||||||||||||||||||||
| Shareholders’ equity attributable to Johnson Controls | |||||||||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||||||||
| ROE1 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| ROE, Competitors2 | |||||||||||||||||||||||||||||
| Boeing Co. | |||||||||||||||||||||||||||||
| Caterpillar Inc. | |||||||||||||||||||||||||||||
| Eaton Corp. plc | |||||||||||||||||||||||||||||
| GE Aerospace | |||||||||||||||||||||||||||||
| Honeywell International Inc. | |||||||||||||||||||||||||||||
| Lockheed Martin Corp. | |||||||||||||||||||||||||||||
| RTX Corp. | |||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-K (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-K (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-K (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31).
1 Q2 2024 Calculation
ROE = 100
× (Net income (loss) attributable to Johnson ControlsQ2 2024
+ Net income (loss) attributable to Johnson ControlsQ1 2024
+ Net income (loss) attributable to Johnson ControlsQ4 2023
+ Net income (loss) attributable to Johnson ControlsQ3 2023)
÷ Shareholders’ equity attributable to Johnson Controls
= 100 × ( + + + )
÷ =
2 Click competitor name to see calculations.
- Net Income (Loss) Attributable to Johnson Controls
- The net income shows substantial volatility across the periods analyzed. The highest peak occurred in the second quarter of 2019, reaching 4,192 million US dollars, followed by a sharp decline in subsequent quarters. Negative net income values were recorded in the third quarter of 2020 and the first quarter of 2024, indicating periods of financial loss. Despite fluctuations, several quarters exhibit positive gains, such as the fourth quarters of 2023 and 2021, with notable recoveries after loss periods. Overall, the income trend reflects periods of strong performance interspersed with instability and occasional downturns.
- Shareholders’ Equity Attributable to Johnson Controls
- The shareholders’ equity demonstrates a general decreasing trend over the timeline. Starting at 20,102 million US dollars at the end of 2018, it declines gradually to a level around 15,658 million by the first quarter of 2024. Minor fluctuations are observed, with slight increases in certain quarters; however, the overall pattern is a decline in equity, potentially reflective of retained losses, dividends, or share buybacks. This diminishing equity base could impact the company’s financial flexibility and warrants consideration for capital structure management.
- Return on Equity (ROE)
- The ROE shows significant variation with an initial rise reaching a peak above 28% in mid-2019, coinciding with the high net income at the same period. Subsequent periods experience a marked decrease, stabilizing in the single digits mostly between 3% and 12%. There is a notable drop to a range between 3.62% and 5.23% during 2020, corresponding with the net income losses and a decline in equity. A recovery trend appears post-2020, with ROE improving toward the end of 2023 but then slightly declining again in early 2024 to approximately 10.83%. These fluctuations reflect the changes in profitability relative to shareholders’ equity and indicate varying operational efficiency or financial leverage effects over time.
Return on Assets (ROA)
Johnson Controls International plc, ROA calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Net income (loss) attributable to Johnson Controls | |||||||||||||||||||||||||||||
| Total assets | |||||||||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||||||||
| ROA1 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| ROA, Competitors2 | |||||||||||||||||||||||||||||
| Boeing Co. | |||||||||||||||||||||||||||||
| Caterpillar Inc. | |||||||||||||||||||||||||||||
| Eaton Corp. plc | |||||||||||||||||||||||||||||
| GE Aerospace | |||||||||||||||||||||||||||||
| Honeywell International Inc. | |||||||||||||||||||||||||||||
| Lockheed Martin Corp. | |||||||||||||||||||||||||||||
| RTX Corp. | |||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-K (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-K (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-K (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31).
1 Q2 2024 Calculation
ROA = 100
× (Net income (loss) attributable to Johnson ControlsQ2 2024
+ Net income (loss) attributable to Johnson ControlsQ1 2024
+ Net income (loss) attributable to Johnson ControlsQ4 2023
+ Net income (loss) attributable to Johnson ControlsQ3 2023)
÷ Total assets
= 100 × ( + + + )
÷ =
2 Click competitor name to see calculations.
- Net Income (Loss) attributable to Johnson Controls
- The net income demonstrates considerable volatility across the presented quarters. Initially, net income figures show a moderate positive trend, peaking significantly during the quarter ending June 30, 2019, reaching 4,192 million US dollars. Following that peak, values fluctuate substantially, including several quarters of negative net income, such as June 30, 2020, with a loss of 182 million US dollars. Positive net income resumes intermittently thereafter, showing some recovery with notable peaks like the 1,049 million US dollars in December 31, 2023. However, the most recent data shows a return to negative net income at March 31, 2024, with a loss of 277 million US dollars, indicating ongoing instability in profitability.
- Total Assets
- Total assets remain relatively stable over the time span, oscillating around the low to mid-40,000 million US dollars range. There is no consistent upward or downward trend, but small fluctuations are evident. The asset base peaked at 48,489 million US dollars in March 31, 2019, followed by a decline and subsequent oscillations. The most recent quarters show values around 43,000 to 44,000 million US dollars, indicating the company maintains a steady asset size with no major expansion or contraction.
- Return on Assets (ROA) %
- ROA exhibits marked variability across quarters, with significant positive peaks and troughs that correspond with the patterns observed in net income. The highest ROA was observed during June 30, 2019, at 13.54%, aligning with the substantial net income peak in that quarter. From that high point, ROA declines sharply and experiences volatility, reaching lows near 1.5% in late 2020, aligning with periods of negative net income. The ROA trends upward and stabilizes somewhat in the 3-5% range during 2021 through early 2024, though showing a slight decline at the most recent quarter. This pattern indicates fluctuating profitability efficiency relative to the asset base, with periods of stronger asset utilization interspersed with weaker performances.
- Summary of Trends
- Overall, the data presents a picture of fluctuating profitability with intermittent sharp earnings peaks and troughs, while asset levels remain broadly stable. The variability in net income and corresponding ROA points to inconsistent operational performance and earnings volatility. Although the asset base suggests a stable scale of operations, the company's ability to consistently generate profits from these assets is uneven across quarters. Recent quarters signal some recovery in profitability, yet the reappearance of net losses at the end highlights potential challenges in sustaining positive earnings momentum.