Market PositionJLL is positioned well cyclically and competitively, with a strong market share in U.S. property sales, debt brokerage, and leasing.
Revenue MixJLL is poised to benefit given its over 50% revenue mix of leasing/capital markets, leading to significant margin expansion in EBITDA.
ValuationJLL trades at a 30% discount to CBRE's valuation, suggesting potential for narrowing the gap in valuation.