Johnson Controls International PLC
JCIHIGH VELOCITYFILING INTENSITYJohnson Controls International PLC reads as an High Velocity (composite 78/100); Consistent Strategic Buyer deploying $726M across 0 disclosed transactions, down 32% vs the prior cycle · primary market E&C.
Lens
Disclosed M&A capital (2023–2025)
$726M
vs $1.1B in 2020–2022
Disclosed transactions
N/A
2/3 active fiscal years in window
Buyer archetype
Consistent Strategic Buyer
Meaningful spend appears across repeat years.
Composite score
78
High Velocity dominates · Filing Intensity
Behavioral posture, nine reads.
Each index scores the issuer 0–100 against an EDGAR-anchored definition. Scores ≥ threshold elevate the issuer into the index's constituent set; the dominant index drives the masthead label.
Active Acquirer
Companies actively deploying disclosed capital into M&A
- $2.9B disclosed buyer spend
- Filed within 19d
Buyer Cadence
Buyer-side companies with recent filing activity
- Filed within 19d
- 466 8-Ks
Target Probability
Issuers showing target-side patterns from filings
- 31 activism filings
Spin/Carve
Issuers showing spin-off, carve-out, or sum-of-parts posture
- 31 activism filings
Pressure Watch
Issuers facing activism, governance, or control pressure
- 31 activism filings
- Latest activism 24y ago; heavily discounted
Distress Watch
Issuers showing financial-distress filing patterns
- 31 activism filings
Restatement Risk
Issuers with accounting-integrity flags from filings
- 5 auditor changes
- 2 NT late filings
- Latest event 2.5y ago; discounted
Capital Velocity
DominantIssuers with the highest filing-activity intensity
- 466 8-Ks
- Filed within 19d
- 5 form types
Quiet Power
Large issuers with low signal volume and clean disclosure cadence
- Enterprise value $93.9B
- 10-Q 20d ago
- 3 active signals
Capital cadence.
Ten-year disclosed M&A activity. Bars show spend ($MM); ticks show recorded transaction count. Disclosure tier annotated where v6 audited corpus carries an entry.
Disclosed spend $MM Disclosed transactions (right axis)Peak spend year: $726M · Peak count: 3
| FY | Disclosed buys | Disclosed spend | Avg ticket | Audited tier |
|---|---|---|---|---|
| 2025 | N/A | $100K | N/A | N/A |
| 2024 | N/A | N/A | N/A | N/A |
| 2023 | N/A | $726M | N/A | N/A |
| 2022 | N/A | $269M | N/A | N/A |
| 2021 | 2 | $725M | $363M | N/A |
| 2020 | N/A | $77M | N/A | N/A |
Strategy posture.
The buyer's playbook in terms of strategic archetype: what each disclosed move says about how they're deploying capital.
Archetype mix
- Geographic Expansion25%
- Bolt On25%
- Horizontal Consolidation25%
- Platform25%
Strategy keywords
Terms recurring across recent 10-K acquisition disclosures.
- geographic_expansion
- bolt_on
- horizontal_consolidation
- platform
Filing language.
Direct excerpts from acquisition disclosures and strategy sections: the verbs the buyer chose, in the filings they signed.
“The success of the Merger will depend on, among other things, our ability to combine the legacy businesses of Johnson Controls and Tyco in a manner that realizes anticipated synergies and facilitates growth opportunities, and achieves the projected stand-alone cost savings and revenue growth trends identified by us.”
“To align our resources with our growth strategies, operate more efficiently and control costs, we periodically announce restructuring plans, which may include workforce reductions, global plant closures and consolidations, asset impairments and other cost reduction initiatives.”
“We are continuously upgrading and consolidating our systems, including making changes to legacy systems, replacing legacy systems with successor systems with new functionality, acquiring new systems with new functionality and moving to cloud-based technology solutions.”
“We expect to benefit from operational and general and administrative cost synergies resulting from the consolidation of capabilities and branch optimization, as well as greater tax efficiencies from global management and global cash movement.”
Market context.
Where this issuer sits inside its SE-Cluster rollup wedge, with disclosed-spend rank plus trading comparables against the public peer set.
Primary market
E&C
- Market spend (2023–2025)
- $50.9B
- Market spend (2020–2022)
- $33.3B
- Recent vs prior
- +53%
- Issuer rank in market
- N/A
- Share of market capital
- 0.0%
Valuation positioning
JCI trades at a +7.1-turn premium to the E&C peer median of 20.6×.
- EV / Revenue
- 3.8×
- Net debt / EBITDA
- 0.1×
- Peer median EV / EBITDA
- 20.6×
Trading comparables
FMP market data · 2026-05-10
| Company | EV / EBITDA | EV / Rev | Net debt / EBITDA | Revenue | M&A 2023–2025 |
|---|---|---|---|---|---|
| 46.8× | 3.8× | 2.0× | $30B | $5.4B | |
Johnson Controls International PLCJCI | 27.7× | 3.8× | 0.1× | $24.4B | $726M |
| 25.1× | 4.9× | -0.3× | $21.6B | $1.2B | |
| 20.6× | 1.1× | 0.2× | $9.8B | $6B | |
| 19.2× | 1.3× | 3.0× | $13.2B | $32M | |
| 8.1× | 5.5× | -0.4× | $1.2B | $598M |
Trading multiples from FMP market data; disclosed M&A spend from the SE-Cluster EDGAR 10-K corpus. Peer set = top disclosed buyers in E&C. Bars scaled to the highest EV/EBITDA in the set.
Target landscape.
Public-issuer targets that fit this buyer's archetype and target categories from filing-derived signal. Scores reflect cross-signal fit; reasons cite the EDGAR-anchored facts that drove the match.
No qualifying public-issuer targets surfaced from the current signal mix.
Stated target categories
No target categories enumerated in the audited corpus for this issuer.
Filing activity & signal stream.
Filing cadence and event-driven signals visible on EDGAR. The signal stream below is curated from restatement / spin-carve / activism categories, providing context for any near-term call.
Filing cadence
- 10-K (annual)332025-11-14
- 10-Q (quarterly)1002026-05-06
- 8-K (event)4662026-05-07
- Proxy / DEF 14A1112026-01-16
- Activism (13D / DFAN / PREC)312001-12-27
Signals on file
- elevated
Auditor change
2016-09-095 Item 4.01 filings on file; certifying accountant change.
- watch
Late-filing notice
2023-11-292 NT 10-K/10-Q filings on file.
- elevated
Activism on file
2001-12-2731 activist filings on file (13D, DFAN14A, PREC14A series).
- info
Signal
Serial acquisition history
- info
Signal
10-K strategy themes
- info
Signal
Restatement risk
Audited corpus.
No audited record on file for this CIK in the current v6 corpus.
This issuer has not been extracted into the v6 audited acquirer corpus yet. The brief above pulls from ranking-level aggregates and issuer-index signal only.