Jones Lang LaSalle Incorporated (JLL) Balance Sheet
JLL balance sheet, 2025
December 31, 2025 · U.S. dollars$17.80B assets = $10.18B liabilities + $7.62B equity
Both columns are drawn to the same scale: what JLL owns equals what it owes plus shareholders’ equity. Hover a block for its value.
JLL financial health
Current ratio7.49
Comfortable · current assets cover current liabilities 7.49×
Debt / equity0.45
Low leverage · $0.45 of debt for each $1 of equity
Equity / assets42.1%
Equity-funded · of assets funded by shareholders
Cash / debt17.8%
Low cash cover · cash & short-term investments vs total debt
Goodwill & intangibles30.2%
Acquisition-heavy · of total assets
Descriptive bands, not a rating. Fiscal 2025.
JLL balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $7.63B2016 | $17.80B2025 | +9.9%/yr | |
| Total liabilities | $4.81B2016 | $10.18B2025 | +8.7%/yr | |
| Shareholders’ equity | $2.79B2016 | $7.50B2025 | +11.6%/yr | |
| Cash & short-term investments | $258.5M2016 | $599.1M2025 | +9.8%/yr | |
| Total debt | $1.85B2016 | $3.36B2025 | +6.9%/yr | |
| Net cash (debt) | −$1.59B2016 | −$2.77B2025 | −$1.2B | |
| Working capital | $333.4M2016 | $6.61B2025 | +$6.3B | |
| Book value per share | $61.272016 | $155.302025 | +10.9%/yr | |
| Current ratio | 1.112016 | 7.492025 | +6.38 | |
| Debt / equity | 0.662016 | 0.452025 | −0.21 | |
| Shares outstanding | 45.5M2016 | 48.3M2025 | +0.7%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
JLL assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
JLL liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
JLL debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
JLL balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $599.1M | $416.3M | $410.0M | $519.3M | $593.7M | $574.3M | $451.9M | $480.9M | $268.0M | $258.5M |
| Cash & equivalents | $599.1M | $416.3M | $410.0M | $519.3M | $593.7M | $574.3M | $451.9M | $480.9M | $268.0M | $258.5M |
| Short-term investments | — | — | — | — | — | $430.0M | — | — | $70.0M | $72.2M |
| Receivables | $7.03B | $2.49B | $2.43B | $2.51B | $2.35B | $1.90B | $2.37B | $4.40B | $2.83B | $1.87B |
| Inventory | $0 | $0 | $0 | −$3.36B | $0 | $1 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $4.57B | $4.01B | $6.90B | $3.45B | $3.98B | $3.05B | $321.7M | $257.7M | $1.17B |
| Total current assets | $7.63B | $7.48B | $6.86B | $6.57B | $6.39B | $6.45B | $5.87B | $5.21B | $3.35B | $3.30B |
| Property, plant & equipment (net) | $1.34B | $1.34B | $1.34B | $1.36B | $1.46B | $1.37B | $1.51B | $567.9M | $543.9M | $501.0M |
| Goodwill & intangible assets | $5.37B | $5.34B | $5.37B | $5.39B | $5.50B | $4.90B | $4.85B | $3.03B | $3.01B | $2.87B |
| Long-term investments | $892.9M | $812.7M | $816.6M | $873.8M | $745.7M | $430.8M | $404.2M | $356.9M | $376.2M | $355.4M |
| Other non-current assets | $2.56B | $1.80B | $1.67B | $1.40B | $1.41B | $1.16B | $1.04B | $860.0M | $725.2M | $599.0M |
| Total assets | $17.80B | $16.76B | $16.06B | $15.59B | $15.51B | $14.32B | $13.67B | $10.03B | $8.01B | $7.63B |
| Liabilities | ||||||||||
| Accounts payable | $1.40B | $1.32B | $1.41B | $1.24B | $1.26B | $1.23B | $1.29B | $1.26B | $2.35B | $1.94B |
| Short-term debt | $1.02B | $1.35B | $972.5M | $775.9M | $1.37B | $1.73B | $789.4M | $350.6M | $386.6M | $669.6M |
| Deferred revenue | $237.2M | $203.8M | $226.4M | $216.5M | $208.2M | $192.9M | $158.8M | $190.4M | $158.9M | $129.8M |
| Total current liabilities | $1.02B | $7.14B | $6.45B | $5.91B | $6.49B | $6.13B | $5.49B | $4.76B | $3.21B | $2.97B |
| Long-term debt | $805.9M | $845.3M | $1.39B | $1.59B | $533.8M | $702.0M | $664.6M | $671.5M | $690.6M | $1.18B |
| Lease obligations | $941.1M | $906.0M | $916.4M | $932.2M | $868.2M | $849.6M | $904.6M | — | — | — |
| Other long-term liabilities | $8.35B | $1.88B | $1.82B | $1.95B | $2.06B | $1.87B | $2.30B | $857.7M | $828.8M | $663.5M |
| Total liabilities | $10.18B | $9.87B | $9.65B | $9.44B | $9.08B | $8.70B | $8.46B | $6.29B | $4.73B | $4.81B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $500,000 | $500,000 | $500,000 | $500,000 | $500,000 | $500,000 | $500,000 | $500,000 | $1.04B | $1.01B |
| Retained earnings (deficit) | $7.11B | $6.33B | $5.80B | $5.59B | $4.94B | $3.98B | $3.59B | $3.10B | $2.55B | $2.33B |
| Treasury stock | — | — | — | — | −$411.5M | −$96.1M | −$5.7M | −$5.8M | −$5.9M | −$6.0M |
| Accumulated other comprehensive income | −$572.5M | −$646.9M | −$591.5M | −$648.2M | −$395.4M | −$377.2M | −$427.8M | −$456.2M | −$341.8M | −$551.1M |
| Minority interest | $120.2M | $123.6M | $116.1M | $128.6M | $228.5M | $89.2M | $86.6M | $43.0M | $38.1M | $25.0M |
| Total shareholders' equity | $7.50B | $6.77B | $6.29B | $6.02B | $6.18B | $5.52B | $5.12B | $3.73B | $3.29B | $2.79B |
| Key figures | ||||||||||
| Total debt | $3.36B | $2.95B | $3.12B | $3.14B | $2.62B | $3.10B | $2.72B | $1.02B | $1.08B | $1.85B |
| Net cash (debt) | −$2.77B | −$2.53B | −$2.71B | −$2.62B | −$2.03B | −$2.53B | −$2.27B | −$541.2M | −$809.2M | −$1.59B |
| Working capital | $6.61B | $334.0M | $410.9M | $657.6M | −$98.8M | $325.9M | $378.4M | $444.2M | $144.9M | $333.4M |
| Tangible book value | $2.13B | $1.44B | $921.4M | $634.4M | $686.3M | $616.3M | $267.3M | $699.8M | $270.8M | −$84.6M |
| Book value per share | $155.30 | $139.99 | $130.34 | $122.03 | $118.78 | $105.60 | $104.12 | $81.31 | $71.79 | $61.27 |
| Shares outstanding | 48.3M | 48.4M | 48.3M | 49.3M | 52.1M | 52.3M | 49.2M | 45.9M | 45.8M | 45.5M |
| Current ratio | 7.49 | 1.05 | 1.06 | 1.11 | 0.98 | 1.05 | 1.07 | 1.09 | 1.05 | 1.11 |
| Quick ratio | 7.49 | 0.41 | 0.44 | 0.51 | 0.45 | 0.40 | 0.51 | 1.03 | 0.96 | 0.72 |
| Debt / equity | 0.45 | 0.43 | 0.50 | 0.52 | 0.42 | 0.56 | 0.53 | 0.27 | 0.33 | 0.66 |
| Equity / assets | 42.1% | 40.4% | 39.2% | 38.6% | 39.9% | 38.6% | 37.4% | 37.3% | 41.0% | 36.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $458.2M | $1.22B | $599.1M | $428.9M | $401.4M | $432.4M | $416.3M | $437.8M | $424.4M | $396.7M | $410.0M | $389.5M |
| Cash & equivalents | $458.2M | $1.22B | $599.1M | $428.9M | $401.4M | $432.4M | $416.3M | $437.8M | $424.4M | $396.7M | $410.0M | $389.5M |
| Short-term investments | — | — | — | — | — | — | $56.0M | — | — | — | — | −$495.7M |
| Receivables | $2.23B | $2.26B | $7.03B | $2.34B | $6.83B | $2.33B | $2.49B | $2.33B | $2.22B | $2.24B | $2.43B | $2.27B |
| Inventory | $3.09B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | −$7.39B | $0 |
| Other current assets | $2.04B | $4.82B | $0 | $4.88B | $620.7M | $4.47B | $4.57B | $5.64B | $3.99B | $3.68B | $11.41B | $3.72B |
| Total current assets | $7.83B | $8.30B | $7.63B | $7.64B | $7.85B | $7.23B | $7.48B | $8.41B | $6.63B | $6.32B | $6.86B | $6.38B |
| Property, plant & equipment (net) | $1.31B | $7.65B | $1.34B | $1.33B | $1.31B | $1.32B | $1.34B | $1.35B | $1.36B | $1.34B | $1.34B | $1.34B |
| Goodwill & intangible assets | $5.36B | $5.34B | $10.08B | $5.38B | $5.40B | $5.34B | $5.34B | $5.39B | $5.35B | $5.33B | $5.37B | $5.34B |
| Long-term investments | $873.6M | $886.6M | $892.9M | $895.1M | $878.8M | $902.4M | $812.7M | $866.5M | $819.7M | $816.2M | $816.6M | $865.2M |
| Other non-current assets | $2.10B | $0 | $0 | $1.93B | $1.91B | $1.83B | $1.80B | $1.81B | $1.75B | $1.68B | $1.67B | $1.55B |
| Total assets | $17.46B | $17.89B | $17.80B | $17.18B | $17.34B | $16.63B | $16.76B | $17.82B | $15.91B | $15.48B | $16.06B | $15.48B |
| Liabilities | ||||||||||||
| Accounts payable | $1.24B | $1.22B | $1.40B | $1.20B | $1.18B | $1.20B | $1.32B | $1.16B | $1.15B | $1.23B | $1.41B | $1.07B |
| Short-term debt | $862.9M | $2.11B | $1.02B | $1.71B | $2.19B | $1.74B | $1.35B | $3.11B | $937.3M | $604.9M | $972.5M | $851.0M |
| Deferred revenue | $270.6M | $228.6M | — | $222.3M | $230.2M | $187.7M | $203.8M | $200.1M | $217.9M | $219.0M | $226.4M | $206.5M |
| Total current liabilities | $6.95B | $7.39B | $1.02B | $6.96B | $7.17B | $6.63B | $7.14B | $8.03B | $5.51B | $5.10B | $6.45B | $5.43B |
| Long-term debt | $934.4M | $1.13B | $805.9M | $982.9M | $1.18B | $1.18B | $845.3M | $1.12B | $2.03B | $2.15B | $1.39B | $1.96B |
| Lease obligations | $880.9M | $899.3M | $941.1M | $963.5M | $915.4M | $909.7M | $906.0M | $945.9M | $935.4M | $917.0M | $916.4M | $923.0M |
| Other long-term liabilities | $1.97B | $1.94B | $8.35B | $1.94B | $1.84B | $1.86B | $1.88B | $1.90B | $1.87B | $1.82B | $1.82B | $1.92B |
| Total liabilities | $9.86B | $10.46B | $10.18B | $9.88B | $10.18B | $9.67B | $9.87B | $11.05B | $9.41B | $9.07B | $9.65B | $9.31B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $500,000 | $500,000 | $500,000 | $500,000 | $500,000 | $500,000 | $500,000 | $500,000 | $500,000 | $500,000 | $500,000 | $500,000 |
| Retained earnings (deficit) | $7.44B | $7.23B | $7.11B | $6.71B | $6.49B | $6.38B | $6.33B | $6.09B | $5.94B | $5.86B | $5.80B | $5.62B |
| Accumulated other comprehensive income | −$591.1M | −$584.9M | −$572.5M | −$557.7M | −$524.2M | −$610.6M | −$646.9M | −$535.1M | −$651.0M | −$628.9M | −$591.5M | −$671.4M |
| Minority interest | $138.6M | $119.7M | $120.2M | $120.8M | $121.7M | — | — | — | — | — | — | — |
| Total shareholders' equity | $7.46B | $7.31B | $7.50B | $7.18B | $7.04B | $6.84B | $6.77B | $6.65B | $6.38B | $6.29B | $6.29B | $6.04B |
| Key figures | ||||||||||||
| Total debt | $2.52B | $3.98B | $3.36B | $3.48B | $4.11B | $3.68B | $2.95B | $5.01B | $3.75B | $3.52B | $3.12B | $3.58B |
| Net cash (debt) | −$2.06B | −$2.75B | −$2.77B | −$3.05B | −$3.71B | −$3.25B | −$2.53B | −$4.58B | −$3.32B | −$3.12B | −$2.71B | −$3.19B |
| Working capital | $874.4M | $917.8M | $6.61B | $687.1M | $685.3M | $607.0M | $334.0M | $378.7M | $1.12B | $1.22B | $410.9M | $953.1M |
| Tangible book value | $2.10B | $1.97B | −$2.58B | $1.80B | $1.64B | $1.49B | $1.44B | $1.26B | $1.03B | $961.8M | $921.4M | $699.5M |
| Book value per share | $157.53 | $152.86 | $155.79 | $148.41 | $145.65 | $141.38 | $139.52 | $137.06 | $132.03 | $130.35 | $130.24 | $124.90 |
| Shares outstanding | 47.4M | 47.8M | 48.2M | 48.3M | 48.3M | 48.4M | 48.5M | 48.5M | 48.3M | 48.3M | 48.3M | 48.4M |
| Current ratio | 1.13 | 1.12 | 7.49 | 1.10 | 1.10 | 1.09 | 1.05 | 1.05 | 1.20 | 1.24 | 1.06 | 1.18 |
| Quick ratio | 0.39 | 0.47 | 7.49 | 0.40 | 1.01 | 0.42 | 0.41 | 0.34 | 0.48 | 0.52 | 0.44 | 0.49 |
| Debt / equity | 0.34 | 0.54 | 0.45 | 0.49 | 0.58 | 0.54 | 0.43 | 0.75 | 0.59 | 0.56 | 0.50 | 0.59 |
| Equity / assets | 42.7% | 40.8% | 42.1% | 41.8% | 40.6% | 41.1% | 40.4% | 37.3% | 40.1% | 40.6% | 39.2% | 39.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 19, 2026); data from EODHD.
JLL financial position
At the end of fiscal 2025 (December 31, 2025), Jones Lang LaSalle had total assets of $17.8 billion (up 6.2% from a year earlier), total liabilities of $10.2 billion and shareholders' equity of $7.5 billion. It held $599.1 million in cash and short-term investments against $3.4 billion of debt, net debt of $2.8 billion. Its current ratio was 7.49. In the latest quarter (ended June 30, 2026) total assets were $17.5 billion and equity $7.5 billion.
Related: JLL income statement, JLL cash flow statement, JLL key metrics. See the JLL stock overview for the latest quote and news.
JLL balance sheet FAQ
What are Jones Lang LaSalle's total assets?
Jones Lang LaSalle reported total assets of $17.8 billion at the end of fiscal 2025 (December 31, 2025), compared with $16.8 billion a year earlier.
How much debt does Jones Lang LaSalle have?
Jones Lang LaSalle had $3.4 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.45.
How much cash does Jones Lang LaSalle have?
Jones Lang LaSalle held $599.1 million in cash and short-term investments at the end of fiscal 2025; with $3.4 billion of debt that is net debt of $2.8 billion.
What is Jones Lang LaSalle's book value?
Jones Lang LaSalle's shareholders' equity (book value) was $7.5 billion at the end of fiscal 2025, or $155.30 per share.
What is Jones Lang LaSalle's current ratio?
Jones Lang LaSalle had current assets of $7.6 billion and current liabilities of $1.0 billion, a current ratio of 7.49 (it can cover its short-term obligations).
How much goodwill does Jones Lang LaSalle have?
Jones Lang LaSalle carried $5.4 billion of goodwill and intangible assets, 30.2% of total assets, at the end of fiscal 2025.