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JLL - Jones Lang LaSalle: China Exposure And Recovery Pace Draw Attention
Jones Lang LaSalle Incorporated
Jones Lang LaSalle's exposure to China's residential property market is limited, which implies that the risks linked to China Evergrande Group's debt crisis are not likely to be significant.
JLL's fee revenue and operating profit have already gone above pre-pandemic levels, but the company's leasing volumes are still not as high as they were before COVID-19.
The market values JLL at consensus forward FY 2021 and FY 2022 normalized P/E multiples of 16.2 times and 15.4 times, respectively.