— Know what they know.
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Not Investment Advice

JNJ

NYSE · USD
Johnson & Johnson
Healthcare · Drug Manufacturers - General
CEO Joaquin Duato Employees 138,200 R&D / revenue 15.6%
Last price
$255.56+0.90%last session
Market cap
$615.9B
P/E (TTM)
38.7x
From 52w high
−9.1%
From 52w low
+38.4%
1-year return
+33.9%
RSI 14 · vs SMA200
43.8 · +4.8%
IS score
64.2/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

JNJ   SPY   XLV (sector ETF) · weekly closes
100110120130140Jan 26Apr 26Jul 26Oct 26JNJ 134XLV 124SPY 116

Score DNA

Each bar is a 0-100 score within the scored universe
85
Profitability
42
Growth
42
Value
67
Momentum
100
Risk (safety)
84
Quality
69
Balance sheet
74
Earnings quality

Flags

Strengths
✓ Congress buying
Warnings
▲ Share count rising
Observations
Moat model: Narrow, Efficient ScalePiotroski 7 / 9Altman Z 5.3Beta 0.233 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
10 open-market sales, $67.1M
Form 144 notices (12m): 17, $151.9M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
8
Last disclosed purchase 2026-09-25
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+46
221 new holders, 112 closed
4,706 filers hold 74.5% · 2,069 added, 1,916 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+196
1,797 funds adding shares
1,601 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
27.6%
20-day avg 45.0%, 50-day avg 49.6%
Latest 17.4 pp under its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$94.2B
Revenue growth YoY+6.0%
Gross margin72.8%
Operating income$25.6B
Operating margin27.2%
Net income$26.8B
Net margin28.5%
EPS (diluted)$11.03
Cash flow
Operating cash flow$24.5B
Capital expenditure$4.8B
Free cash flow$19.7B
FCF conversion (FCF / OCF)80.3%
Stock-based compensation$1.4B
FCF less SBC$18.3B
Buybacks$6.0B
Dividends$12.4B
Balance sheet & returns
Cash & short-term investments$20.1B
Total debt$47.9B
Net debt$27.8B
Shareholders' equity$81.5B
Goodwill & intangibles$99.2B
Debt / equity0.58
ROE (TTM)19.7%
ROIC (TTM)14.7%
Operating margin by fiscal year
26.2%FY202124.3%FY202227.5%FY202324.8%FY202427.4%FY2025
Revenue $78.7B (FY2021) to $94.2B (FY2025), a 4.6% CAGR.

Valuation

P/E (TTM)38.7x
EV / EBITDA20.9x
Price / sales6.20x
Price / FCF32.9x
FCF yield3.04%
Buyback yield0.97%
SBC / revenue1.4%
Price / book7.36x
Forward P/E FY202622.9x
Forward P/E FY202622.3x
Forward P/E FY202622.1x
Forward multiples divide today's price by Street EPS estimates. Street mean target $286.50 across 14 analysts last quarter is theirs, not ours.

JNJ vs industry median

40 companies in Drug Manufacturers - General
Gross margin 68.8% 72.4% Operating margin 25.7% 20.1% Net margin 16.2% 12.7% ROIC 14.7% 16.2%
JNJ (TTM)Industry median Asset turnover 0.49 vs industry 0.54 · financial leverage 2.37

Earnings delivery

Next report 2027-01-20 · consensus EPS $2.93
92%
beat rate, 11 of 12 quarters
+2.6%
median EPS surprise
8
longest beat streak
+1+3+4+10+3+7+3+1+0+1+2+3
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2024-01-23 to 2026-10-13. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
JNJ Johnson & Johnson $615.9B38.7x19.7%16.2%+6.0% +33.9%
ABBV AbbVie Inc. $504.4B80.4x-206.4%21.3%+10.4% +25.8%
MRK Merck & Co., Inc. $360.1B115.8x7.0%-8.0%+4.5% +75.4%
LLY Eli Lilly and Company $1.18T42.1x102.4%30.9%+49.6% +53.6%
NVS Novartis AG $286.3B22.9x30.6%22.7%+0.8% +15.1%
AZN AstraZeneca PLC $256.5B24.7x22.0%16.3%+8.6% —
AMGN Amgen Inc. $233.8B26.7x91.5%23.6%+9.2% —
GILD Gilead Sciences, Inc. $193.7Bn/m-20.6%—+5.5% —
12-month window: SPY +15.9%, sector ETF XLV +24.2%. Past returns describe history only.

Recent 8-K filings

2026-10-13Earnings Release; Exhibits
2026-08-04Officer/Director Change; Exhibits
2026-07-29Regulation FD; Exhibits
2026-07-28Regulation FD; Exhibits
2026-07-15Earnings Release; Exhibits
2026-04-28Shareholder Vote; Exhibits

Context

Shares outstanding2,409,898,597
Free float99.8%
Institutional ownership74.5%
Beta0.23
Dividend yield2.07%
Last dividend$1.34 on 2026-11-24
50 / 200-day average$265.26 / $243.87
Mega-cap Healthcare median P/E20.1x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Narrow).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where JNJ sits among 12 scored companies in Drug Manufacturers - General (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureJNJIndustry medianIndustry percentileSector median
P/E (TTM) 29.3x 29.3x
50th		 27.6x
PEG (P/E ÷ 3-yr EPS CAGR) 1.45 1.23
60th		 1.28
Price / sales 6.3x 5.3x
73rd		 3.7x
Price / book 7.2x 6.9x
60th		 3.6x
Price / tangible book —
Price / free cash flow 32.9x 20.3x
91st		 21.2x
Price / operating cash flow 26.0x 16.8x
91st		 17.1x
Enterprise value $644.2B $280.5B
91st		 $2.5B
EV / sales 6.6x 6.0x
64th		 3.8x
EV / EBITDA 19.1x 18.0x
55th		 16.2x
EV / EBIT 24.8x 24.8x
50th		 23.0x
EV / free cash flow 34.4x 23.7x
91st		 24.6x
Earnings yield 3.4% 3.0%
55th		 -0.3%
FCF yield 3.0% 5.0%
9th		 1.7%
Operating cash flow yield 3.8% 6.0%
9th		 2.9%
Graham number (per share) $82.19 $63.36
67th		 $26.70

Profitability (TTM)

MeasureJNJIndustry medianIndustry percentileSector median
Gross margin 68.8% 72.1%
18th		 65.1%
EBITDA margin 34.4% 32.8%
73rd		 6.6%
Operating margin 26.8% 25.2%
64th		 3.5%
EBIT margin 26.5% 22.0%
64th		 2.4%
Net margin 21.5% 13.4%
73rd		 0.3%
NOPAT margin 22.4% 20.5%
64th		 2.7%
FCF margin 19.1% 24.7%
27th		 4.3%
Operating cash flow margin 24.2% 29.5%
27th		 7.1%
R&D / revenue 15.4% 20.0%
18th		 12.4%
SG&A / revenue 25.7% 22.0%
73rd		 37.9%
Stock comp / revenue 1.4% 1.1%
82nd		 4.5%
Effective tax rate 16.5% 19.2%
27th		 21.0%

Returns on capital

MeasureJNJIndustry medianIndustry percentileSector median
ROE (on average equity) 25.7% 24.0%
60th		 0.8%
ROA 10.7% 6.9%
82nd		 -0.3%
ROIC 19.4% 15.9%
73rd		 5.5%
ROCE 17.8% 15.6%
64th		 2.3%
Return on tangible assets 13.2% 11.2%
64th		 1.7%
Cash ROIC (OCF / invested capital) 20.9% 22.4%
36th		 9.7%
Gross profitability (GP / assets) 33.1% 34.0%
36th		 29.9%
ROIC, 3-yr average 24.8% 10.3%
91st		 2.6%
ROIC, 5-yr average 24.2% 14.2%
89th		 3.2%
ROE, 5-yr average 29.6% 19.6%
67th		 -4.9%
Incremental ROIC 62.9% 4.4%
64th		 17.2%

Growth

MeasureJNJIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 8.1% 5.0%
64th		 10.5%
Revenue growth (QoQ) 5.2% 8.6%
27th		 7.2%
Revenue CAGR, 3 yr 4.4% 4.4%
45th		 10.7%
Revenue CAGR, 5 yr 1.9% 3.3%
18th		 12.1%
Gross profit CAGR, 3 yr 4.1% 5.9%
36th		 10.6%
Operating income CAGR, 3 yr 5.8% 10.0%
40th		 11.7%
Net income growth (TTM YoY) -7.2% -6.6%
40th		 17.5%
Net income CAGR, 3 yr 17.2% 3.1%
70th		 11.3%
EPS growth (TTM YoY) -8.0% -4.3%
40th		 19.2%
EPS CAGR, 3 yr 20.1% 2.7%
70th		 14.0%
EPS CAGR, 5 yr 5.3% 2.2%
56th		 8.1%
FCF growth (TTM YoY) 14.1% 4.7%
80th		 18.6%
FCF CAGR, 3 yr 8.7% 11.3%
45th		 15.4%
Operating cash flow CAGR, 3 yr 7.5% 6.8%
55th		 11.9%
Book value CAGR, 3 yr 6.8% 5.2%
56th		 2.1%
Dividend CAGR, 3 yr 4.0% 1.8%
70th		 2.2%
Sustainable growth rate 10.3% 11.0%
44th		 12.2%

Margin history & stability

MeasureJNJIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 68.3% 70.1%
36th		 62.6%
Operating margin, 3-yr average 26.3% 23.5%
82nd		 1.0%
Net margin, 3-yr average 30.1% 13.4%
100th		 -2.6%
FCF margin, 3-yr average 20.2% 22.0%
36th		 3.2%
Revenue stability (0-1) 0.39 0.75
18th		 0.80
Earnings stability (0-1) 0.11 0.23
36th		 0.37
Margin stability (0-1) 0.99 0.94
100th		 0.93

Liquidity (latest quarter)

MeasureJNJIndustry medianIndustry percentileSector median
Cash & short-term investments $20.8B $7.4B
100th		 $330.9M
Net cash (− = net debt) −$28.3B −$36.7B
64th		 $8.4M
Working capital $4.9B $4.1B
55th		 $381.1M
Current ratio 1.09 1.29
27th		 3.02
Quick ratio 0.81 1.05
27th		 2.51
Cash ratio (cash + ST investments / current liabilities) 0.38 0.31
73rd		 1.43
Defensive interval (days) 361 days 287 days
73rd		 415 days

Leverage & solvency (latest quarter)

MeasureJNJIndustry medianIndustry percentileSector median
Total debt $49.0B $49.0B
55th		 $289.1M
Debt / equity 0.58 1.29
10th		 0.45
Net debt / equity 0.33 1.12
0th		 −0.13
Debt / assets 24.4% 40.8%
0th		 24.4%
Debt / capital 36.6% 56.2%
10th		 31.1%
Debt / EBITDA 1.45 3.30
9th		 2.62
Net debt / EBITDA 0.84 2.75
0th		 1.42
Interest coverage (EBIT / interest) 33.1x 5.3x
91st		 2.1x
Cash interest coverage 30.2x 9.8x
100th		 3.6x
Debt payback (years of OCF) 2.1 yrs 2.8 yrs
18th		 2.7 yrs
Liabilities / assets 57.7% 71.1%
27th		 49.8%
IS credit model rating AA — —
Implied credit spread (bps) 80 250
0th		 225

Efficiency

MeasureJNJIndustry medianIndustry percentileSector median
Asset turnover 0.50 0.49
55th		 0.56
Fixed asset turnover 4.15 4.31
45th		 4.87
Inventory turnover 2.2 2.1
55th		 2.7
Receivables turnover 5.3 4.9
73rd		 6.4
Days sales outstanding 69 days 74 days
27th		 57 days
Days inventory outstanding 166 days 172 days
45th		 136 days
Days payables outstanding 109 days 116 days
36th		 59 days
Cash conversion cycle (days) 126 days 126 days
55th		 70 days
Capex / revenue 5.1% 4.6%
60th		 2.6%
Capex / depreciation 0.64 0.49
80th		 0.55
Operating expense ratio 39.8% 40.9%
36th		 56.5%

Cash flow & earnings quality

MeasureJNJIndustry medianIndustry percentileSector median
Operating cash flow / net income 1.13 1.44
10th		 1.61
FCF / net income 0.89 1.24
10th		 1.36
FCF / operating cash flow 78.9% 81.5%
30th		 81.2%
Capex / operating cash flow 21.1% 18.5%
70th		 18.8%
Accruals ratio -1.4% -4.3%
91st		 -5.4%
Sloan accruals ratio -1.6% -2.6%
64th		 -1.3%
Earnings quality score (0-1) 1.00 1.00
30th		 0.75

Dividends & buybacks

MeasureJNJIndustry medianIndustry percentileSector median
Dividend yield 2.1% 2.2%
36th		 0.0%
Dividend per share (TTM) $5.28 $3.33
73rd		 $0.00
Payout ratio (dividends / net income) 60.0% 60.0%
50th		 0.0%
Dividends / FCF 67.5% 50.8%
91st		 0.0%
Dividend growth (YoY) 3.5% 5.0%
30th		 4.5%
Buyback yield 1.0% 0.1%
91st		 0.0%
Shareholder yield (dividends + buybacks) 3.1% 2.5%
73rd		 0.0%
Share count change (YoY) 0.9% -0.1%
82nd		 2.0%
Buybacks, last 5 years $21.5B $3.6B
82nd		 $0

Scores & forensic checks

MeasureJNJIndustry medianIndustry percentileSector median
IS score 64 64
45th		 46
IS profitability 85 67
64th		 22
IS growth 42 40
55th		 60
IS value 42 42
45th		 39
IS momentum 67 67
55th		 67
IS risk (safety) 100 72
91st		 80
IS quality 84 72
91st		 49
IS balance sheet 69 49
100th		 55
IS earnings quality 74 68
100th		 56
IS cash flow 65 66
45th		 41
Piotroski F-score (0-9) 7 7
45th		 5
Altman Z-score 5.3 3.0
91st		 3.2
Beneish M-score −2.49 −2.72
91st		 −2.62
Ohlson O-score −9.00 −8.11
9th		 −7.16
IS credit score 88 60
100th		 62

Per share

MeasureJNJIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $8.62 $5.07
82nd		 −$0.03
Book value per share $34.82 $19.22
82nd		 $7.10
Tangible book per share −$4.80 −$8.38
82nd		 $1.91
Revenue per share $40.13 $32.71
73rd		 $9.38
FCF per share $7.67 $7.97
45th		 $0.46
Operating cash flow per share $9.71 $9.66
55th		 $0.93
Cash per share $8.51 $4.10
73rd		 $3.51

Size (TTM)

MeasureJNJIndustry medianIndustry percentileSector median
Market cap $615.9B $245.2B
91st		 $2.4B
Revenue $97.9B $58.5B
100th		 $770.2M
EBITDA $33.7B $16.9B
91st		 $56.1M
Net income $21.0B $7.5B
91st		 −$3.3M
Free cash flow $18.7B $12.3B
82nd		 $41.2M
Total assets $201.1B $118.9B
91st		 $1.3B
Shareholders' equity $85.0B $28.1B
91st		 $568.4M
Employees 141,700 53,500
100th		 1,086

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-09-08Pinto Daniel E
Director
 Award / grant 113——2,445
2026-09-08Woods Eugene A.
Director
 Award / grant 136——6,579
2026-09-08Hewson Marillyn A
Director
 Award / grant 181——16,049
2026-09-02Schmid Timothy
EVP, WW Chair, MedTech
 Option exercise 11,070$131.94$1.5M36,517
2026-09-02Schmid Timothy
EVP, WW Chair, MedTech
 Open-market sale 22,527$274.74$6.2M25,447
2026-09-02Schmid Timothy
EVP, WW Chair, MedTech
 Option exercise 22,527$151.41$3.4M47,974
2026-09-02Schmid Timothy
EVP, WW Chair, MedTech
 Option exercise 11,070$131.94$1.5M0
2026-09-02Schmid Timothy
EVP, WW Chair, MedTech
 Option exercise 22,527$151.41$3.4M0
2026-09-01Cavanaugh Thomas
EVP WW Chair, Innovative Med.
 — 15,839$243.45$3.9M0
2026-09-01Cavanaugh Thomas
EVP WW Chair, Innovative Med.
 — 25,493$156.15$4.0M0
2026-09-01Cavanaugh Thomas
EVP WW Chair, Innovative Med.
 — 23,311$157.92$3.7M0
2026-09-01Cavanaugh Thomas
EVP WW Chair, Innovative Med.
 — 15,081$162.75$2.5M0

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprMayJunJulAugSep

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired1712,967—
Open-market saleDisposed10258,270$67.1M
Option exerciseDisposed9239,541$26.3M
Option exerciseAcquired9239,541$26.3M
Tax withholdingDisposed111,002$2.5M
—Disposed780,689$14.0M
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 17 notices · 615,448 shares · $151.9M
FiledFilerShares proposedEst. proceeds
2026-09-02Schmid Timothy33,597$9.2M
2026-08-17Taubert Jennifer L15,000$4.0M
2026-08-13Duato Joaquin123,291$32.2M
2026-08-06Forminard Elizabeth15,918$4.1M
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 56 trades (21 purchases) · Senate 6 (1 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-09-25Ro KhannaHousePurchase$1,001 - $15,0002026-10-09
2026-09-08Lloyd DoggettHousePurchase$1,001 - $15,0002026-10-06
2026-09-04Ro KhannaHousePurchase$15,001 - $50,0002026-10-09
2026-08-27Thomas H. KeanHouseSale$1,001 - $15,0002026-09-14
2026-08-20John BoozmanSenateSale$1,001 - $15,0002026-09-11
2026-08-20John BoozmanSenateSale (Partial)$1,001 - $15,0002026-09-11
2026-08-20John BoozmanSenateSale (Partial)$1,001 - $15,0002026-09-10
2026-03-30Alan ArmstrongSenatePurchase$1,001 - $15,0002026-07-20
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.212,098,264$53.9B8.80%
VANGUARD CAPITAL MANAGEMENT LLC157,226,374$39.9B6.52%
STATE STREET CORP133,776,025$34.0B5.55%
VANGUARD PORTFOLIO MANAGEMENT LLC64,370,816$16.3B2.67%
GEODE CAPITAL MANAGEMENT, LLC59,086,417$15.0B2.45%
JPMORGAN CHASE & CO55,638,625$14.4B2.31%
NORGES BANK31,825,084$8.1B1.32%
STATE FARM MUTUAL AUTOMOBILE INSURANCE CO31,590,952$8.0B1.31%
BANK OF AMERICA CORP /DE/23,438,141$6.0B0.97%
PRICE T ROWE ASSOCIATES INC /MD/22,996,878$5.8B0.95%
FMR LLC22,595,566$5.7B0.94%
WELLINGTON MANAGEMENT GROUP LLP22,588,696$5.7B0.94%
NORTHERN TRUST CORP22,542,932$5.7B0.94%
Bank of New York Mellon Corp20,113,327$5.1B0.83%
GOLDMAN SACHS GROUP INC19,722,544$5.0B0.82%

Institutional ownership by quarter

2023-092026-0674.5%
% of shares held by 13F filers
2023-092026-064,706
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-304,70674.5%2212,0691,916112
2026-03-314,66072.8%3031,7162,166120
2025-12-314,55272.9%5531,6581,93197
2025-09-304,20071.0%2931,7061,800119
2025-06-304,10172.1%1751,6361,896175
2025-03-314,16671.5%2571,7141,838144
2024-12-314,11971.1%4741,3551,940177
2024-09-303,89670.5%2291,5661,730105
2024-06-303,81869.9%1641,5151,794154
2024-03-313,86669.1%1631,5791,753124
2023-12-313,88468.6%3801,3041,886122
2023-09-303,69068.3%1531,2232,005175

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-05-01SCHEDULE 13GVanguard Capital Management7.5%180,631,228
2026-03-26SCHEDULE 13G/AThe Vanguard Group0.0%0
2026-02-05SCHEDULE 13G/AThe Vanguard Group10.1%243,455,135
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.87%$20.3B
VTI0.87%$20.3B
VTSAX0.87%$20.3B
VSMPX0.87%$20.3B
VFIAX0.97%$16.8B
VFFSX0.97%$16.8B

Share structure

Shares outstanding2,409,898,597
Float2,405,970,462
Free float99.8%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$78.7B$80.0B$85.2B$88.8B$94.2B
Cost of revenue$23.4B$24.6B$26.6B$27.5B$25.6B
Gross profit$55.3B$55.4B$58.6B$61.4B$68.6B
R&D$14.3B$14.1B$15.1B$17.2B$14.7B
SG&A$20.1B$20.2B$20.1B$22.0B$23.7B
Operating income$20.9B$21.0B$23.4B$22.1B$25.6B
EBITDA$26.8B$26.6B$23.3B$24.8B$39.9B
Pretax income$19.2B$19.4B$15.1B$16.7B$32.6B
Income tax$1.4B$3.0B$1.7B$2.6B$5.8B
Net income$20.9B$17.9B$35.2B$14.1B$26.8B
EPS, diluted$7.81$6.73$13.72$5.79$11.03
Diluted shares2.7B2.7B2.6B2.4B2.4B

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$31.6B$22.3B$22.9B$24.5B$20.1B
Receivables$19.0B$16.9B$14.9B$18.9B$17.2B
Inventory$10.4B$10.3B$11.2B$12.4B$14.2B
Total current assets$61.0B$55.3B$53.5B$55.9B$55.6B
PP&E, net$19.0B$18.0B$19.9B$20.5B$23.2B
Goodwill & intangibles$81.6B$74.5B$70.7B$81.8B$99.2B
Total assets$182.0B$187.4B$167.6B$180.1B$199.2B
Accounts payable$11.1B$9.9B$9.6B$10.3B$12.0B
Total current liabilities$45.2B$55.8B$46.3B$50.3B$54.1B
Long-term debt$30.0B$26.9B$25.9B$30.7B$39.4B
Total liabilities$108.0B$110.6B$98.8B$108.6B$117.7B
Shareholders' equity$74.0B$76.8B$68.8B$71.5B$81.5B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$20.9B$17.9B$13.3B$14.1B$26.8B
Depreciation & amortization$7.4B$7.0B$7.5B$7.3B$7.5B
Stock-based compensation$1.1B$1.1B$1.2B$1.2B$1.4B
Change in working capital−$4.2B−$4.0B$2.5B$1.8B−$12.7B
Operating cash flow$23.4B$21.2B$22.8B$24.3B$24.5B
Capital expenditure−$3.7B−$4.0B−$4.5B−$4.4B−$4.8B
Free cash flow$19.8B$17.2B$18.2B$19.8B$19.7B
Investing cash flow−$8.7B−$12.4B$878.0M−$18.6B−$23.6B
Net debt issued / repaid−$990.0M$7.5B−$2.7B$10.1B$9.6B
Buybacks−$3.5B−$6.0B−$5.1B−$2.4B−$6.0B
Dividends paid−$11.0B−$11.7B−$11.8B−$11.8B−$12.4B

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin68.2%67.7%68.8%69.1%67.9%
Operating margin26.2%24.3%27.5%24.8%27.4%
Net margin22.3%19.7%41.3%15.8%28.5%
FCF margin21.1%18.9%21.4%20.3%20.9%
ROE30.4%23.8%48.3%20.1%35.0%
ROIC29.5%19.9%27.5%22.2%19.4%
ROA11.7%9.7%19.8%8.1%14.1%
Debt / equity0.460.520.430.510.59
Interest coverage125.5x77.4x20.5x23.1x44.8x
Current ratio1.350.991.161.111.03
Revenue growth+13.6%−2.8%−6.6%+4.3%+6.0%
EPS growth+41.8%−13.9%+114.7%−59.9%+89.6%
P/E at year end19.5x23.9x10.2x24.2x18.9x
EV / EBITDA at year end13.5x15.8x15.6x14.2x13.1x
FCF yield at year end4.86%4.00%5.09%5.30%3.89%
Dividend payout52.8%65.1%33.5%84.1%46.2%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Innovative Medicine—$52.6B$54.8B$57.0B$60.4B
Pharmaceutical$52.1B————
MedTech—$27.4B$30.4B$31.9B$33.8B
Medical Devices$27.1B————
Consumer$14.6B$15.0B———

Revenue by region · FY2025

UNITED STATES$53.8B · 57%
Europe$21.5B · 23%
Asia-Pacific, Africa$14.0B · 15%
Western Hemisphere, excluding U.S.$4.9B · 5%

Street estimates by fiscal year

Next report 2027-01-20 · consensus EPS $2.93 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$101.2B$100.8B – $101.5B$11.16$11.09 – $11.251022.9x
2026$98.9B$98.2B – $100.0B$11.48$11.34 – $11.721322.3x
2026$100.3B$98.3B – $101.0B$11.57$11.48 – $11.671322.1x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-10-13$2.52$2.59+2.8%$25.4B$25.4B+0.1%
2026-07-15$2.84$2.90+2.1%$25.1B$25.3B+1.0%
2026-04-14$2.68$2.70+0.7%$23.6B$24.1B+1.9%
2026-01-21$2.46$2.460.0%$24.1B$24.6B+1.7%
2025-10-14$2.76$2.80+1.4%$23.8B$24.0B+1.0%
2025-07-16$2.68$2.77+3.4%$22.9B$23.7B+3.9%
2025-04-15$2.58$2.77+7.4%$21.6B$21.9B+1.6%
2025-01-22$1.99$2.04+2.5%$22.4B$22.5B+0.4%
2024-10-15$2.21$2.42+9.5%$22.2B$22.5B+1.3%
2024-07-17$2.71$2.82+4.1%$22.3B$22.4B+0.5%
2024-04-16$2.64$2.71+2.7%$21.4B$21.4B−0.1%
2024-01-23$2.27$2.29+0.9%$21.0B$21.4B+1.9%
2023-10-17$2.52$2.66+5.6%$19.8B$21.4B+7.7%
2023-07-20$2.61$2.80+7.3%$24.6B$21.5B−12.6%
2023-04-18$2.51$2.68+6.8%$23.7B$20.9B−11.8%
2023-01-24$2.22$2.35+5.9%$23.9B$23.7B−0.7%
2022-10-18$2.49$2.55+2.4%$23.4B$20.0B−14.4%
2022-07-19$2.57$2.59+0.8%$23.8B$24.0B+1.0%
2022-04-19$2.60$2.67+2.7%$23.6B$23.4B−0.8%
2022-01-25$2.12$2.13+0.5%$23.8B$24.8B+4.2%
2021-10-19$2.37$2.60+9.7%$23.7B$23.3B−1.5%
2021-07-21$2.27$2.48+9.3%$23.8B$23.3B−2.1%
2021-04-20$2.34$2.59+10.7%—$22.3B—
2021-01-26$1.81$1.86+2.8%—$22.5B—

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
1.706-152.606-221.406-292.607-062.607-132.307-202.307-271.908-031.408-102.008-171.708-241.708-31
Week ofNotionalSharesTrades
2026-08-31$1.7B6,294,673126,622
2026-08-24$1.7B6,336,688125,830
2026-08-17$2.0B7,463,866148,050
2026-08-10$1.4B5,361,472125,729
2026-08-03$1.9B7,299,419138,062
2026-07-27$2.3B8,611,494164,360

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1527.6%
DateShort shareShort volumeTotal volume
2026-10-1527.6%1,091,3493,949,204
2026-10-1431.9%1,155,7113,623,118
2026-10-1348.0%3,170,6456,608,616
2026-10-1243.9%845,2111,924,485
2026-10-0931.1%658,6152,117,125
2026-10-0833.2%697,2172,100,713
2026-10-0730.6%605,2821,974,868
2026-10-0634.2%650,4781,903,853
2026-10-0540.3%1,070,3132,654,493
2026-10-0248.7%1,559,0733,198,517
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
-0.0Jan+0.0Feb+1.2Mar+2.1Apr-0.3May+1.1Jun+2.1Jul+0.3Aug+0.3Sep+1.0Oct+1.8Nov+0.4Dec
MonthAvg returnUp yearsYears
Jan−0.0%50%20
Feb+0.0%55%20
Mar+1.2%62%21
Apr+2.1%65%20
May−0.3%60%20
Jun+1.1%55%20
Jul+2.1%65%20
Aug+0.3%55%20
Sep+0.3%55%20
Oct+1.0%65%20
Nov+1.8%60%20
Dec+0.4%55%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1443.8
MFI32.1
ADX16.3
Stochastic %K / %D32.6 / 29.1
Williams %R-61.1
CCI-60
TSI / signal-16.7 / -11.6
Chaikin money flow-0.12
ATR$6.20
Bollinger width11.0%
Volume vs 20-day avg0.87x
SupertrendDown

Moving averages and bands

level (price vs level)
SMA 20$261.39 (−2.2%)
SMA 50$264.94 (−3.5%)
SMA 200$243.80 (+4.8%)
EMA 21$259.90 (−1.7%)
EMA 50$261.19 (−2.2%)
EMA 200$241.54 (+5.8%)
Bollinger upper$275.81 (−7.3%)
Bollinger lower$246.98 (+3.5%)
Parabolic SAR$263.26 (−2.9%)
Open the live chart, 110+ indicators

About Johnson & Johnson

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension. The MedTech segment includes a portfolio of products used in interventional solutions, orthopaedics, surgery, and vision categories. The company was founded by Robert Wood Johnson I, James Wood Johnson, and Edward Mead Johnson Sr. in 1887 and is headquartered in New Brunswick, NJ.

https://www.jnj.com

Key executives

NameTitlePayBorn
Joaquin DuatoChief Executive Officer & Chairman$6.5M1963
Joseph J. WolkExecutive Vice President & Chief Financial Officer$3.2M1967
John C. ReedExecutive Vice President of Innovative Medicine and R&D$3.2M1958
Timothy SchmidExecutive Vice President & Worldwide Chairman of MedTech$2.5M1970
Kristen Blair MulhollandExecutive Vice President & Chief Human Resources Officer$2.1M1967
Elizabeth ForminardExecutive Vice President & Chief Legal Officer—1971
James SwansonExecutive Vice President & Chief Information Officer—1966
Kathryn E. WengelExecutive Vice President and Chief Technical Operations & Risk Officer—1966

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
J. Duato Chairman/CEO2025$1.6M$15.0M$4.3M$32.8M
J. Wolk EVP, CFO2025$1.2M$6.3M$1.9M$14.4M
J. Taubert EVP, WWC Innovative Medicine2025$1.2M$6.2M$2.0M$14.0M
J. Reed EVP, Innovative Medicine, R&D2025$1.2M$6.2M$1.8M$12.2M
T. Schmid EVP, WWC, MedTech2025$942,308$3.4M$1.5M$9.3M

Employees

135k2018132k2019134k2021142k2022153k2023132k2023138k2024138k2025

Dividends

Ex-dateAmountPaid
2026-11-24$1.342026-12-08
2026-08-25$1.342026-09-08
2026-05-26$1.342026-06-09
2026-02-24$1.32026-03-10
2025-11-25$1.32025-12-09
2025-08-26$1.32025-09-09
2025-05-27$1.32025-06-10
2025-02-18$1.242025-03-04

Moat model

Narrow · Efficient Scale · 2026-06-28
Cost advantage52
Intangibles37
Switching costs78
Network effect55
Efficient scale100
Our component scores (0-100) and overall 62.4; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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