About Jones Lang LaSalle Inc.
Jones Lang LaSalle Inc. (NYSE: JLL) (commonly known as JLL) is a global professional services company specializing in commercial real estate and investment management, headquartered in Chicago, USA. Founded in 1783 and formed in its current structure through the 1999 merger of Jones Lang Wootton and LaSalle Partners, JLL has grown into one of the world’s largest real estate advisory firms.
The company provides a wide range of services including property and facility management, leasing, capital markets advisory, project management, real estate consulting, and investment management for investors, corporations, and property owners worldwide.
JLL operates in more than 80 countries with over 110,000 employees, offering integrated real estate solutions across sectors such as office, industrial, retail, residential, and hospitality.
Overall, JLL is recognized as a leading global real estate services and investment management firm focused on helping clients buy, build, occupy, manage, and invest in property assets around the world.
Real Estate Market Trends
Global direct real estate investment grew about 14% in local currency, showing improved investor confidence. Growth was broad-based across regions, with the Americas, EMEA, and Asia Pacific all reporting increased investment activity. Debt markets remained active due to strong credit availability and attractive borrowing spreads.
Office leasing volumes rose slightly globally, with stronger growth in North America and Asia Pacific. Industrial sector activity also improved, driven by logistics demand and advanced manufacturing trends.
Consolidated Q4 2025 Financial Results
For the fourth quarter of 2025, the company reported revenue of $7.61 billion, up 12% year-over-year. Adjusted EBITDA increased 30% to $589 million, while adjusted net income rose 41% to $420 million. Adjusted diluted EPS improved significantly to $8.71 from $6.15 in the prior year.
Transactional revenues grew strongly, particularly in investment sales and leasing, while resilient revenues also increased due to workplace and project management growth.
Full-Year 2025 Financial Performance
For the full year, revenue reached $26.1 billion, up 11% compared with 2024. Adjusted EBITDA rose 22% to $1.45 billion, and adjusted net income increased 34% to $908 million. Earnings growth was driven by higher transactional activity and expansion in Real Estate Management Services.
Segment Performance Highlights
Real Estate Management Services revenue growth driven by workplace and project management services. Leasing Advisory had strong growth, particularly in U.S. office leasing and industrial deals.
Capital Markets Services revenue increased due to strong investment sales and debt advisory activity. Investment Management revenue declined due to lower incentive fees despite higher transaction volumes. Software & Technology Solutions had modest revenue growth supported by software demand.
Balance Sheet and Capital Allocation
The company maintained a strong balance sheet with low leverage and solid liquidity. Net debt declined due to positive free cash flow, and credit ratings remained investment grade. Share repurchases totaled $212 million for 2025, with approximately $800 million still authorized.
Free Cash Flow and Financial Targets
Free cash flow rose 63% year-over-year, supported by stronger earnings and lower tax payments. For 2026, the company targets Adjusted EBITDA of $1.575-$1.675 billion, reflecting expectations of continued growth.
Overall Outlook
The company’s results indicate improving real estate investment activity, strong transactional growth, and resilient service revenues. With a strong balance sheet and positive market trends, the company expects continued financial progress in 2026.