$Johnson Controls (JCI.US)$It is an Irish company that was l...
$Johnson Controls(JCI.US$It is an Irish company that was listed in 1964. The gross margin has risen from 31% to 34% over the past 5 years, and the return on net assets has fluctuated up and down. Apart from reaching 27.7% in 2019, it has been below 10% for the rest of the 4 years, which is very unattractive.
Revenue reached a major level in 2019, falling from $31.4 billion to $23.9 billion, and didn't exceed $23.9 billion for the next two years. Operating profit rebounded for 2 years after falling 57% in 2019, increasing 20.5 and 60.4% respectively. Instead, net profit increased 150% in 2019, plummeted 86.5% in 2020, and rebounded 135% in 2021. It was a turbulent three years.
Unsurprisingly, operating profit of 4.6 billion dollars ceased in 2019, so 2019 revenue reached a major level, and everything was straightened out.
2020 cleared up the mess in 2019, resulting in nearly 800 million extraordinary expenses, including restructuring and asset impairment. Income tax in 2021 is very high. I don't know if they are paying for the first two years, but the income statement already looks much cleaner than the previous two years.
In the first two quarters of 2022, revenue increased 9.4%, operating profit fell 8.8%, net profit fell 47%, profit statements began to be messy again, and other expenses reached 300 million.
Currently, the price-earnings ratio is 23.8, and the price-earnings ratio is 31.3, which is not very attractive.
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