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Adjusted EBITDA Breakdown
Shows how adjusted EBITDA is built from core operating results after stripping out non-recurring items and non-cash charges. For JLL, it highlights margin quality across fee-based property management and investment-management operations versus more volatile transaction and capital markets activity, reveals the impact of overhead and restructuring on profits, and helps distinguish recurring cash-generating strength from one-off or accounting-driven gains.EBITDA is clearly transaction-driven: Leasing and Capital Markets produce large, lumpy uplifts while Real Estate Management is more volatile than a pure recurring business should be. Management’s call confirms strong Capital Markets momentum and guidance bias toward the high end, which supports margin expansion and buybacks, but persistent Property Management churn in APAC, commission‑tier pressure in Leasing and only nascent recovery in Software mean that sustained EBITDA improvement depends on continued deal flow and successful contract renegotiations—watch Q2/Q3 run rates for durability.
Date | Real Estate Management Services | Leasing Advisory | Capital Markets Services | Asset Management | Software and Technology Solutions | All Other |
|---|---|---|---|---|---|---|
Jun 30, 2026 | $107.40M | $166.60M | $95.20M | $16.40M | $0.00 | $700.00K |
Mar 31, 2026 | $65.40M | $116.90M | $77.10M | $15.00M | $0.00 | -$800.00K |
Dec 31, 2025 | $162.40M | $225.80M | $171.20M | $27.70M | -$3.90M | $5.90M |
Sep 30, 2025 | $102.20M | $136.90M | $89.90M | $23.70M | -$1.10M | -$4.30M |
Jun 30, 2025 | $106.60M | $120.40M | $54.70M | $16.30M | -$6.30M | $0.00 |
Mar 31, 2025 | $66.30M | $97.00M | $48.60M | $15.80M | -$2.90M | ― |