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Total assets reported in FY2025.
Total liabilities reported in FY2025.
Shareholders' equity reported in FY2025.
Equity as a share of the latest capital base.
Review the reported balance sheet and jump directly to the source filing for any fiscal year.
Over the 2021–2025 period, Johnson Controls International’s balance sheet shows a broadly stable but slightly contracting asset base, with total assets moving from about $41.9 billion in 2021 to $37.9 billion in 2025. Assets were relatively flat through 2022–2023, edged up modestly in 2024, and then declined more sharply in 2025. This suggests a period of balance-sheet optimization or portfolio adjustment rather than sustained expansion, which is common in the building technologies and HVAC services space where companies often manage capital intensity carefully. Liabilities increased from $23.1 billion in 2021 to a peak of $26.6 billion in 2024 before easing to $25.0 billion in 2025. Equity rose from $18.8 billion in 2021 to $17.7 billion in 2023, then fell to $16.1 billion in 2024 and $12.9 billion in 2025. The decline in equity in the last two years outpaced the reduction in liabilities, indicating a weakening of book capital and a higher leverage profile relative to prior years. Overall, the trend points to a company that remains financially sizable and still well-capitalized, but with less equity cushion than earlier in the period, which investors would typically watch closely in a cyclical industrial business.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.