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JOHNSON CONTROLS INC

No Longer Reporting

The company has not filed an annual or quarterly report since its FY2016 10-K, filed Nov 23, 2016. Its latest SEC filing is a SC 13G/A from Feb 13, 2017.

The sections below describe the company as of the FY2016 annual report.

What Did They Do?

Sells systems and services for commercial and residential buildings, automotive batteries to automakers and aftermarket retailers, and seating and interior systems to automakers.

How Did They Make Money?

The company earns from long-term building contracts as work progresses and from service and maintenance agreements over their terms. Other products count when the customer takes ownership, and services as they are performed.

FY2016 revenue

Who Were Their Customers?

Building systems and services are sold mainly through Johnson Controls’ sales and service offices, with some controls and mechanical systems sold through distributors. Automakers receive seating systems at assembly lines and buy original-equipment batteries; battery retailers and distributors buy replacement batteries.

Did Revenues Turn Into Profits?

No. It lost $847M in FY2016.

Operating income, FY2016
5% of revenue
▼ −20% vs FY2015 ($2.5B, 7%)
Net income, FY2016
−2% of revenue
▼ Now a loss vs FY2015 ($1.6B, 4%)

How Were They Changing?

Shrank. Revenue fell 9% in 4 years, from $40.6B in FY2012 to $36.9B in FY2016, about 2% a year.

Automotive interiors spun off The older report describes Johnson Controls designing and making automotive interior systems; the latest report says the Automotive Experience business was spun off to Adient.

Facilities-management services exited The older report includes on-site facility operations and real-estate consulting in Global Workplace Solutions; the latest report says that business was divested.

Who Did They Compete With?

Competes with Honeywell International, Siemens, Schneider Electric, Carrier, Trane, Daikin Industries, Lennox International, GC Midea Holding, Gree Electric Appliances, Greenheck Fan, Lear, Faurecia, Magna International, Grupo Antolin - Irausa, International Automotive Components Group, Exide Technologies, GS Yuasa, Camel Group, East Penn Manufacturing, and Banner Batteries GB

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