Is Johnson Controls Stock a Buy?

The answer to this question is based somewhat on how you interpret the company's full-year fiscal 2023 guidance. The latter would make Johnson Controls look like an investing option with fantastic growth at a reasonable price, while the former would make it slightly overvalued as measured by a forward price-to-earnings ratio of 20. Discussing the matter on the earnings call, CFO Olivier Leonetti said that "we wanted to give you a bookend of how we will perform in the case we would have a major slowdown of GDP" -- gross domestic product is typically how the financial sector measures the economy at large.