Johnson Controls International PLC Registered Shares

JCI: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$46.00	Hktxtb	Wspxxlklj

Johnson Controls Sees Strong Organic Growth and Continued Margin Expansion in Fiscal 2023

Brian Bernard

Nov 3, 2022

We’ve maintained our $67 per share fair value estimate for Johnson Controls following the firm’s fiscal fourth-quarter earnings release. It was a strong quarter for the narrow-moat-rated firm, which featured 10% year-over-year organic revenue growth (9% from price and 1% from volume), 70 basis points of adjusted operating margin expansion (to 13.6%), and a 13% increase in adjusted EPS (to $0.99).

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