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Johnson Controls Inc. Message Board

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  • alphahunter@rocketmail.com alphahunter Sep 12, 2011 11:33 AM Flag

    I find JCI expensive

    Obviously the market has pushed it down as well, but it is now 1/3 off, no need for vouchers here, the price was obviously pumped-up at $42.

    The automotive business is being duly derated given the amaaaazing 6% EBIT margins (!), German car manufacturers are now trading at 9x-10x earnings, whilst auto subcontractors are sub 7x. That still makes JCI expensive on a relative basis given that the building biz is probably slowing down.

    I'm not sure what the brockers have got for the battery business, but it looks like that JCI bought out SAFT on the cheap. May be it's because that was not worth much more. Can't comment there I'm afraid.

 
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