vs
Side-by-side financial comparison of Johnson Controls (JCI) and TIGO ENERGY, INC. (TYGO). Click either name above to swap in a different company.
TIGO ENERGY, INC. is the larger business by last-quarter revenue ($9.2B vs $5.8B, roughly 1.6× Johnson Controls). Johnson Controls produced more free cash flow last quarter ($531.0M vs $-39.3M).
Johnson Controls International plc is an Irish multinational conglomerate headquartered in Cork, Ireland, that produces fire, HVAC, and security equipment for buildings. As of mid-2019, it employed 105,000 people in around 2,000 locations across six continents. In 2017 it was listed as 389th in the Fortune Global 500. It became ineligible for the Fortune 500 in subsequent years since it relocated its headquarters outside the U.S.
Tigo Energy is an American private corporation, headquartered in Los Gatos, California, United States. It provides products, technologies, software, and services to installers, distributors, and original equipment manufacturers within the photovoltaic industry. It specializes in module-level power optimizers and smart module power electronics.
JCI vs TYGO — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2023
| Metric | | |
|---|---|---|
| Revenue | $5.8B | $9.2B |
| Net Profit | $524.0M | — |
| Gross Margin | 35.8% | 0.0% |
| Operating Margin | — | — |
| Net Margin | 9.0% | — |
| Revenue YoY | 6.8% | — |
| Net Profit YoY | 25.1% | -1736.1% |
| EPS (diluted) | $0.85 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $5.8B | — | ||
| Q3 25 | $6.4B | — | ||
| Q2 25 | $6.1B | — | ||
| Q1 25 | $5.7B | — | ||
| Q4 24 | $5.4B | — | ||
| Q3 24 | $2.9B | — | ||
| Q2 24 | $7.2B | — | ||
| Q1 24 | $6.7B | — |
| Q4 25 | $524.0M | — | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $701.0M | — | ||
| Q1 25 | $478.0M | — | ||
| Q4 24 | $419.0M | — | ||
| Q3 24 | $633.0M | — | ||
| Q2 24 | $975.0M | — | ||
| Q1 24 | $-277.0M | — |
| Q4 25 | 35.8% | — | ||
| Q3 25 | 36.5% | — | ||
| Q2 25 | 37.1% | — | ||
| Q1 25 | 36.5% | — | ||
| Q4 24 | 35.5% | — | ||
| Q3 24 | 48.4% | — | ||
| Q2 24 | 34.4% | — | ||
| Q1 24 | 32.6% | — |
| Q4 25 | — | — | ||
| Q3 25 | 5.5% | — | ||
| Q2 25 | 11.6% | — | ||
| Q1 25 | 8.8% | — | ||
| Q4 24 | 7.5% | — | ||
| Q3 24 | 6.9% | — | ||
| Q2 24 | 17.7% | — | ||
| Q1 24 | -5.4% | — |
| Q4 25 | 9.0% | — | ||
| Q3 25 | 26.3% | — | ||
| Q2 25 | 11.6% | — | ||
| Q1 25 | 8.4% | — | ||
| Q4 24 | 7.7% | — | ||
| Q3 24 | 21.6% | — | ||
| Q2 24 | 13.5% | — | ||
| Q1 24 | -4.1% | — |
| Q4 25 | $0.85 | — | ||
| Q3 25 | $2.61 | — | ||
| Q2 25 | $1.07 | — | ||
| Q1 25 | $0.72 | — | ||
| Q4 24 | $0.63 | — | ||
| Q3 24 | $0.93 | — | ||
| Q2 24 | $1.45 | — | ||
| Q1 24 | $-0.41 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $552.0M | $31.2M |
| Total DebtLower is stronger | $8.7B | $50.0M |
| Stockholders' EquityBook value | $13.2B | $62.8M |
| Total Assets | $38.0B | $127.8M |
| Debt / EquityLower = less leverage | 0.66× | 0.80× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $552.0M | — | ||
| Q3 25 | $379.0M | — | ||
| Q2 25 | $731.0M | — | ||
| Q1 25 | $795.0M | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $606.0M | — | ||
| Q2 24 | $862.0M | — | ||
| Q1 24 | $843.0M | — |
| Q4 25 | $8.7B | — | ||
| Q3 25 | $8.6B | — | ||
| Q2 25 | $8.4B | — | ||
| Q1 25 | $8.2B | — | ||
| Q4 24 | $8.6B | — | ||
| Q3 24 | $8.0B | — | ||
| Q2 24 | $7.9B | — | ||
| Q1 24 | $7.3B | — |
| Q4 25 | $13.2B | — | ||
| Q3 25 | $12.9B | — | ||
| Q2 25 | $15.8B | — | ||
| Q1 25 | $15.8B | — | ||
| Q4 24 | $15.9B | — | ||
| Q3 24 | $16.1B | — | ||
| Q2 24 | $16.0B | — | ||
| Q1 24 | $15.7B | — |
| Q4 25 | $38.0B | — | ||
| Q3 25 | $37.9B | — | ||
| Q2 25 | $43.4B | — | ||
| Q1 25 | $42.4B | — | ||
| Q4 24 | $42.1B | — | ||
| Q3 24 | $42.7B | — | ||
| Q2 24 | $43.3B | — | ||
| Q1 24 | $43.5B | — |
| Q4 25 | 0.66× | — | ||
| Q3 25 | 0.66× | — | ||
| Q2 25 | 0.53× | — | ||
| Q1 25 | 0.52× | — | ||
| Q4 24 | 0.54× | — | ||
| Q3 24 | 0.50× | — | ||
| Q2 24 | 0.49× | — | ||
| Q1 24 | 0.47× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $611.0M | $-37.2M |
| Free Cash FlowOCF − Capex | $531.0M | $-39.3M |
| FCF MarginFCF / Revenue | 9.2% | -0.4% |
| Capex IntensityCapex / Revenue | 1.4% | 0.0% |
| Cash ConversionOCF / Net Profit | 1.17× | — |
| TTM Free Cash FlowTrailing 4 quarters | $2.5B | $-70.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $611.0M | — | ||
| Q3 25 | $968.0M | — | ||
| Q2 25 | $787.0M | — | ||
| Q1 25 | $550.0M | — | ||
| Q4 24 | $249.0M | — | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $1.0B | — | ||
| Q1 24 | $-203.0M | — |
| Q4 25 | $531.0M | — | ||
| Q3 25 | $838.0M | — | ||
| Q2 25 | $693.0M | — | ||
| Q1 25 | $456.0M | — | ||
| Q4 24 | $133.0M | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $922.0M | — | ||
| Q1 24 | $-336.0M | — |
| Q4 25 | 9.2% | — | ||
| Q3 25 | 13.0% | — | ||
| Q2 25 | 11.5% | — | ||
| Q1 25 | 8.0% | — | ||
| Q4 24 | 2.5% | — | ||
| Q3 24 | 40.4% | — | ||
| Q2 24 | 12.8% | — | ||
| Q1 24 | -5.0% | — |
| Q4 25 | 1.4% | — | ||
| Q3 25 | 2.0% | — | ||
| Q2 25 | 1.6% | — | ||
| Q1 25 | 1.7% | — | ||
| Q4 24 | 2.1% | — | ||
| Q3 24 | 5.8% | — | ||
| Q2 24 | 1.4% | — | ||
| Q1 24 | 2.0% | — |
| Q4 25 | 1.17× | — | ||
| Q3 25 | 0.57× | — | ||
| Q2 25 | 1.12× | — | ||
| Q1 25 | 1.15× | — | ||
| Q4 24 | 0.59× | — | ||
| Q3 24 | 2.14× | — | ||
| Q2 24 | 1.05× | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
JCI
| Productsand Systems | $3.9B | 67% |
| Services | $1.9B | 33% |
TYGO
Segment breakdown not available.
