How do you interpret investment management — revenue before reimbursements?

Growth in this metric indicates expansion of the core fee-based business model.

How does investment management — revenue before reimbursements compare across companies?

The standard 'top-line' metric for service firms; compared directly against peer revenue growth rates.

Jones Lang LaSalle JLL Investment Management — Revenue Before Reimbursements

Discontinued — last reported Q2 '20

Similar metrics at other companies

AJGCorporate — Revenues before reimbursements

-$5M—

AJGRisk Management — Revenues before reimbursements

$428M+14.4%

AFGOther — Revenues before realized gains (losses)

$91M-9.0%

AJGBrokerage — Revenues before reimbursements

$4.29B+29.5%

AJGRevenues before reimbursements

$4.72B+27.9%

JEFInvestment Banking Capital Markets And Asset Management — Revenues Net Of Interest Expense

$778.13M-75.6%

Other financials

Income statement

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Revenue$6.4B+11.1%

Operating income$204.6M+70.5%

Net income$159.4M+177%

EPS (diluted)$3.33+192%

Balance sheet

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Cash & equivalents$719.3M+11.6%

Total debt$3.6B-11.6%

Total equity$7.3B+6.8%

Total assets$17.9B+7.6%

Cash flow

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Operating cash flow-$755.0M+1.6%

CapEx$64.9M+45.8%

Free cash flow-$819.9M-1.0%

Valuation

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Market cap$13.79B+21.4%

Enterprise value$16.67B+13.0%

P/E15.4×-5.7×

P/S0.5×0.0×

Profitability

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Operating margin4.4%+0.8pp

Net margin3.3%+1.1pp

FCF margin3.6%—

Returns & leverage

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Return on equity12.6%+4.4pp

Debt / equity0.5×-0.1×

Current ratio1.1×0.0×

Where this comes from

Reported directly by Jones Lang LaSalle in its filing.

Tagged under the XBRL concept jll:RevenueBeforeReimbursements.

The official record: Jones Lang LaSalle’s 10-Q, filed August 6, 2020, on SEC EDGAR. View the filing →

Questions, answered.

What does investment management — revenue before reimbursements mean?: Core revenue earned by the business before accounting for client-reimbursed expenses.
How do you interpret investment management — revenue before reimbursements?: Growth in this metric indicates expansion of the core fee-based business model.
How does investment management — revenue before reimbursements compare across companies?: The standard 'top-line' metric for service firms; compared directly against peer revenue growth rates.