JLL achieved a record fourth-quarter diluted earnings per share of $8.34, up 66% versus the prior-year quarter (in local currency (1))
News release
18 February 2026
JLL Reports 2025 financial results for fourth quarter and full year
CHICAGO, February 18, 2026 – Jones Lang LaSalle Incorporated (NYSE: JLL) today reported 2025 operating performance for the fourth quarter and full year. This was the seventh consecutive quarter of double-digit revenue increases driven by an acceleration of Transactional4 revenue growth and a continuation of the Resilient4 revenue growth streak. For the fourth quarter, diluted earnings per share was $8.34 (up 66%) and adjusted diluted earnings per share1 was $8.71 (up 40%). For the full year, diluted earnings per share was $16.40 (up 44%) and adjusted diluted earnings per share was $18.80 (up 33%).
- Fourth-quarter revenue was $7.6 billion, up 10% in local currency1, with Transactional4 revenues up 15% and Resilient4 revenues up 9%
- Real Estate Management Services' 9% top-line increase was driven by Workplace Management and Project Management
- Capital Markets Services delivered broad-based 19% growth across geographies, led by strength in investment sales and debt advisory
- Leasing, within Leasing Advisory, outpaced market volumes and grew 17%, highlighted by office and industrial
- Revenue growth coupled with improved platform leverage drove strong profit and margin expansion
- Cash provided by operating activities was a record $1.2 billion for the year; Free Cash Flow6 was nearly $1.0 billion
- Share repurchases were $80.3 million this quarter, bringing full-year repurchases to $211.5 million (up 163% versus 2024)
"We are pleased with our fourth-quarter and full-year performance, achieving new highs at year-end across key top- and bottom-line performance metrics as well as free cash flow. These results and the achievement of our mid-term margin target in 2025 reflected the outcome of our multi-year strategy, strong execution and favorable underlying business trends,” said Christian Ulbrich, JLL CEO. “Looking ahead, we see significant runway for healthy growth with continued margin expansion, and we look forward to providing details on our forward strategy and longer-term financial targets at our upcoming Investor Briefing."
About JLL
JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 113,000 as of December 31, 2025. For over 200 years, clients have trusted JLL, a Fortune 500® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.