Research snapshot · 6/18/26

JCIJohnson Controls International

Water infrastructure and environmental permitting for AI data centers | Liquid cooling - CDU

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Conviction●●●●○4 of 5
Research target186.63Snapshot target
Thesis statusSTRENGTHENEDLast reviewed 6/18/26
Market cap89.11BSnapshot value

Johnson Controls provides building automation, thermal management, and systems integration for the Physical AI facility layer — data centers, factories, and labs; record $20B backlog (+26% YoY) with data center orders +40% confirms AI infrastructure demand.

Data center backlog conversion to revenue; AI facility orders sustaining >+30%; margin expansion; FY2026 EPS guidance confirmation; Tyco/building-security AI integration

Data center construction slowdown; building automation margin compression; DC orders fall below +20% growth

Neutral — building automation, not retail-facing

Snapshot · 6/18/26

🟡 Mixed · ins-$13.4M · 13F 12+/13- · short↓0.06

Snapshot · 6/18/26