Johnson Controls International (JCI) FY2025 results: revenue $23.6 billion, up 2.8% on the year

Johnson Controls engineers, makes, commissions and retrofits the systems inside commercial buildings: heating and cooling equipment, industrial refrigeration, controls, building management, security systems, fire detection and fire suppression. It then services what it has installed, doing maintenance, management, repair, retrofit and replacement work and energy management consulting. The company is headquartered in Cork, Ireland. Its financial year ends on 30 September. In fiscal 2025 products and systems were approximately 68 percent of sales from continuing operations and services 32 percent.

How it got here

The business was incorporated in Wisconsin in 1885 as Johnson Electric Service Company, making, installing and servicing automatic temperature regulation for buildings, and was renamed Johnson Controls in 1974. It bought York International, a heating, ventilating, air conditioning and refrigeration supplier, in 2005. In 2016 Johnson Controls combined with Tyco International, adding Tyco's fire and security portfolio, and Tyco took the Johnson Controls International name. On 31 July 2025 the company sold its residential and light commercial HVAC business to Robert Bosch, which included the North America Ducted business and the global residential joint venture with Hitachi Global Life Solutions.

Three regional segments

With that sale the company moved from four segments to three regional ones, Americas, EMEA and APAC, effective 1 April 2025. Each designs, makes, sells, installs and services the same range: HVAC, controls, building management, refrigeration, integrated electronic security, integrated fire detection and suppression, and software, plus technical services including inspection, scheduled maintenance, and repair and replacement of mechanical and control systems. Customers are commercial, industrial, data centre, institutional and governmental, with marine customers and a residential security subscriber business in EMEA. Americas covers the United States, Canada and Central and South America.

Brands, channels and software

Products go out through the company's own network of sales and service offices and through third-party channels such as distributors of air conditioning, controls, security and fire detection and suppression products, and the installed base itself generates repeat maintenance, retrofit and replacement work. The named brands are YORK, Metasys, Ansul, Frick, FM:Systems, PENN, Sabroe, Silent-Aire, Simplex and Grinnell. OpenBlue is the digital platform, on-premises and cloud, combining the equipment with remote diagnostics, predictive maintenance, workplace management, compliance monitoring and risk assessment, and the filing states these services are generally designed to generate recurring revenue.

The order book and competition

At 30 September 2025 backlog stood at $10.6 billion in the Americas, $2.5 billion in EMEA and $1.8 billion in APAC, $14.9 billion in total, 13 percent higher than a year earlier excluding acquisitions, disposals and currency; orders for the year were $13.7 billion, $4.4 billion and $2.6 billion respectively, $20.7 billion in total and 7 percent higher. Work comes through a large number of individually negotiated or competitively awarded contracts, decided on system and service performance, quality, price, design, reputation, technology, application engineering, availability of financing and project management. The named larger competitors are Honeywell, Siemens Smart Infrastructure, Schneider Electric, Carrier Global, Trane Technologies, Vertiv, API Group and Daikin, alongside a fragmented building services market and newer entrants in digital services, software as a service and connected devices. The filing states that losing any individual contract or customer would not materially affect the company.

Materials and people

Raw materials include steel, aluminium, brass, copper, polypropylene and certain fluorochemicals used in fire suppression agents, plus semiconductors and other electronic components. The company reports higher raw material costs from tariffs and reciprocal tariffs imposed by the United States and other countries, says it has largely mitigated the effect of those enacted so far, and warns that further tariffs could weigh on growth and margins. It employed approximately 87,000 people worldwide at 30 September 2025, approximately 31,000 of them in the United States, a workforce down on 2024 mainly because of divestitures including the R&LC HVAC business. Approximately 18,000 employees are covered by collective bargaining agreements or works councils.

From Johnson Controls' annual report on Form 10-K for the year ended 30 September 2025. The filing

Written from the 10-K filed 14 November 2025: read the full 10-K.