Enterprise Value to EBITDA (EV/EBITDA)
Paying user area
Try for free
Johnson Controls International plc pages available for free this week:
- Statement of Comprehensive Income
- Balance Sheet: Assets
- Common-Size Balance Sheet: Assets
- Analysis of Reportable Segments
- Analysis of Geographic Areas
- Enterprise Value to FCFF (EV/FCFF)
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Total Asset Turnover since 2005
- Price to Sales (P/S) since 2005
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Johnson Controls International plc for $22.49.
This is a one-time payment. There is no automatic renewal.
We accept:
Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)
Johnson Controls International plc, EBITDA calculation
US$ in millions
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 Income Attributable to Johnson Controls
- The net income shows considerable fluctuation over the observed years. It increased significantly from 2,162 million USD in 2018 to a peak of 5,674 million USD in 2019. Following that peak, there was a sharp decline in 2020, dropping to 631 million USD. The figure then partially recovered in the subsequent years, reaching 1,637 million USD in 2021, slightly decreasing to 1,532 million USD in 2022, and increasing again to 1,849 million USD in 2023. This trend indicates high volatility in profitability with a major spike in 2019 followed by a significant drop and a moderate recovery thereafter.
- Earnings Before Tax (EBT)
- EBT demonstrates a less volatile but still fluctuating pattern. It initially decreased from 2,901 million USD in 2018 to 1,056 million USD in 2019, then slightly declined to 903 million USD in 2020. A strong rebound occurred in 2021 with EBT reaching 2,614 million USD. This was followed by a decline to 1,710 million USD in 2022, a level which was maintained in 2023. The data suggest that earnings before taxation faced downward pressure post-2018 but rebounded substantially in 2021 before stabilizing at a reduced level.
- Earnings Before Interest and Tax (EBIT)
- EBIT values largely mirror the EBT trend with some differences in magnitude. EBIT dropped from 3,338 million USD in 2018 to 1,391 million USD in 2019 and further to 1,143 million USD in 2020. A strong recovery was noted in 2021 when EBIT rose to 2,833 million USD, followed by a decline to 1,935 million USD in 2022. In 2023, EBIT slightly increased to 2,017 million USD. The series indicates EBIT experienced a considerable fall after 2018 but showed recovery and relative stabilization in more recent years.
- Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA)
- EBITDA reveals a similar trend compared to EBIT and EBT but with a higher absolute scale. It fell from 4,423 million USD in 2018 to 2,216 million USD in 2019, further declining to 1,965 million USD in 2020. The year 2021 marked a significant upward turn with EBITDA rising to 3,678 million USD. This was followed by a decrease to 2,765 million USD in 2022, and a slight rise to 2,865 million USD in 2023. The EBITDA trend reflects volatility with a marked dip post-2018, then notable recovery and a degree of stabilization through 2022 and 2023.
Enterprise Value to EBITDA Ratio, Current
Johnson Controls International plc, current EV/EBITDA calculation, comparison to benchmarks
| Selected Financial Data (US$ in millions) | |
| Enterprise value (EV) | |
| Earnings before interest, tax, depreciation and amortization (EBITDA) | |
| Valuation Ratio | |
| EV/EBITDA | |
| Benchmarks | |
| EV/EBITDA, Competitors1 | |
| Boeing Co. | |
| Caterpillar Inc. | |
| Eaton Corp. plc | |
| GE Aerospace | |
| Honeywell International Inc. | |
| Lockheed Martin Corp. | |
| RTX Corp. | |
| EV/EBITDA, Sector | |
| Capital Goods | |
| EV/EBITDA, Industry | |
| Industrials | |
Based on: 10-K (reporting date: 2023-09-30).
1 Click competitor name to see calculations.
If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.
Enterprise Value to EBITDA Ratio, Historical
Johnson Controls International plc, historical EV/EBITDA calculation, comparison to benchmarks
| Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | Sep 30, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Enterprise value (EV)1 | |||||||
| Earnings before interest, tax, depreciation and amortization (EBITDA)2 | |||||||
| Valuation Ratio | |||||||
| EV/EBITDA3 | |||||||
| Benchmarks | |||||||
| EV/EBITDA, Competitors4 | |||||||
| Boeing Co. | |||||||
| Caterpillar Inc. | |||||||
| Eaton Corp. plc | |||||||
| GE Aerospace | |||||||
| Honeywell International Inc. | |||||||
| Lockheed Martin Corp. | |||||||
| RTX Corp. | |||||||
| EV/EBITDA, Sector | |||||||
| Capital Goods | |||||||
| EV/EBITDA, 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).
3 2023 Calculation
EV/EBITDA = EV ÷ EBITDA
= ÷ =
4 Click competitor name to see calculations.
- Enterprise Value (EV)
- The enterprise value demonstrated a fluctuating trend over the analyzed periods. Initially, there was a decline from US$42,897 million in 2018 to US$38,054 million in 2019. This was followed by a slight increase to US$39,790 million in 2020. In 2021, enterprise value surged significantly to US$62,765 million, marking the highest point in the dataset. However, post-2021, a downward trend resumed, with EV declining to US$53,660 million in 2022 and further to US$45,986 million in 2023.
- Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA)
- EBITDA exhibited considerable volatility across the reported years. The value sharply dropped from US$4,423 million in 2018 to US$2,216 million in 2019, followed by a continued decline to US$1,965 million in 2020. A recovery phase ensued starting in 2021, with EBITDA rising to US$3,678 million. Despite a subsequent decrease in 2022 to US$2,765 million, there was a modest rebound to US$2,865 million in 2023. Overall, EBITDA did not return to the levels observed in 2018 within the period under review.
- EV/EBITDA Ratio
- The EV/EBITDA ratio shows an inverse relationship relative to the movements in EBITDA in the early years. After starting at 9.7 in 2018, which indicates a relatively lower valuation multiple, the ratio increased significantly to 17.17 in 2019 and peaked at 20.25 in 2020. This increase reflects the combined effect of decreasing EBITDA and a relatively stable or mildly increasing enterprise value. The ratio then reduced to 17.07 in 2021 concurrent with EBITDA's recovery and a surge in enterprise value. In 2022, the ratio increased again to 19.41, suggesting EBITDA decreased at a faster pace than EV. The trend reversed in 2023 with the ratio dropping to 16.05, driven by a modest EBITDA recovery and a declining enterprise value, indicating a moderate valuation adjustment relative to earnings.