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Johnson & JohnsonJNJ

$663.3B market cap
Johnson & JohnsonJNJ
Revenue

Revenue: is the business selling more than it used to?

$94.2B+6% YoYFY 2025

0.00$50.0B$100B200720082012201320142017201820192023202420252026$97.9B

◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year

Revenue reached $94.2B in 2025, compounding +2% a year since 2019 and the pace is picking up. The trailing twelve months are already running at $97.9B, ahead of the last full year.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-28

Johnson & JohnsonJNJ
Net income

Net income: how much of that revenue becomes profit?

$26.8B+91% YoYFY 2025

0.00$20.0B200720082012201320142017201820192023$35.2B202420252026$21.0B

◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year

Net income was $26.8B in 2025, compounding +10% a year over three years. Trailing twelve-month profit stands at $21.0B.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-28

Johnson & JohnsonJNJ
Growth rate

How fast is it growing, year by year?

+6.0%revenue growth, FY 2025

-100%0.0%100%20082012201320142017201820192023202420256.0%91%

Off the axis: 2018 earnings +1076.7% - rebounds off a collapsed prior year.

Revenue grew +6% in 2025 against a five-year average of +4%. Earnings grew faster (+91%), so each new dollar of sales is arriving more profitably. 2018's +1077% earnings rebound off a collapsed base sits off the axis.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-28

Johnson & JohnsonJNJ
Per-share growth

Revenue per share: is your slice growing as fast as the company?

$38.77revenue per share, FY 2025

0.0020.0040.0020072008201220132014201720182019202320242025202640.319.16

2026 = trailing twelve months to the latest filed quarter (2026-06-28), not a full fiscal year

Revenue per share reached $38.77 in 2025, compounding +4% a year against +2% for JNJ as a whole. Buybacks added roughly 1.7 points to your per-share result. Free cash flow per share stands at $8.11.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-28

Johnson & JohnsonJNJ
Free cash flow

Free cash flow: what is left in real cash after everything?

$19.7B−1% YoYFY 2025

0.00$10.0B$20.0B200720082012201320142017201820192023202420252026$22.2B

◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year

Free cash flow was $19.7B in 2025, compounding -0% a year since 2019. The trailing twelve months stand at $22.2B.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-28

Johnson & JohnsonJNJ
Cash conversion

How much of every sales dollar ends up as free cash?

0.0%10%20%2007200820122013201420172018201924%202320242025202623%

◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year

21 cents of every sales dollar became free cash in 2025, and it has held steady since 2023.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-28

Johnson & JohnsonJNJ
Spending intensity

What does staying competitive cost, per dollar of sales?

0.0%2.0%4.0%2007200820122013201420172018201920232024202520265.5%0.1%1.4%

2026 = trailing twelve months to the latest filed quarter (2026-06-28), not a full fiscal year

The biggest claim on each sales dollar is capital spending, at 5% of revenue (stock compensation 1%, research and development 0%). That share has risen since 2019, so the cost of competing is climbing.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-28

Johnson & JohnsonJNJ
Margins

Margins: of every $1 of sales, how much survives each cost layer?

0.0%50%20072008201220132014201720182019202320242025202668%21%

2026 = trailing twelve months to the latest filed quarter (2026-06-28), not a full fiscal year

Net margin stands at 28% in 2025. JNJ doesn't break out gross or operating margin in its filings, so net is the only layer the data supports.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-28

Johnson & JohnsonJNJ
Returns on capital

What does it earn on the money it uses?

0.0%20%40%20072008201220132014201720182019202320242025202625%10%

2026 = trailing twelve months to the latest filed quarter (2026-06-28), not a full fiscal year

JNJ earns 25% on shareholders' capital. Return on capital employed isn't meaningful for this business model, so ROE carries the picture alone.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-28

Johnson & JohnsonJNJ
Valuation history

What has the market paid for JNJ over time?

31.8xP/E today

0.0010020020172018201920232024202520266-year median 19.6xP/E 31.78

2026 = at the latest close (2026-09-04), over the trailing twelve months; earlier years are annual averages

At 31.8x earnings, the market is paying +62% more than JNJ's own 6-year median of 19.6x. Expectations are elevated, so more has to go right to justify the price.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-28

Johnson & JohnsonJNJ
Free cash flow yield

What cash return does the business throw off per dollar of market value?

3.4%FCF yield today

0.0%2.5%5.0%20172018201920232024202520266-year median 6.4%FCF yield 3.4%

2026 = at the latest close (2026-09-04), over the trailing twelve months; earlier years are annual averages

Every dollar of market value currently buys 3.4% of annual free cash flow, less than its 6-year median of 6.4% - you are paying up for the same cash.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-28

Johnson & JohnsonJNJ
Debt & cash

Could it handle its debt if things went wrong?

0.00$20.0B$40.0B201220132014201520162017201820192020202120222023202420252026$49.0B$20.8B

Debt of $49.0B sits against $20.4B of cash, or 0.6x shareholders' equity. Earnings cover the interest bill 22 times over, so the debt is comfortably serviced.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-28

Johnson & JohnsonJNJ
Shareholders' equity

Is the company's own capital growing?

0.00$50.0B201220132014201520162017201820192020202120222023202420252026$85.0B

The company's own capital grew from $68.8B in 2023 to $85.0B (+24%). The business is building book value rather than consuming it.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-28

Johnson & JohnsonJNJ
Capital returned

How much goes back, and how much leaks out as stock comp?

0.00$5.0B$10.0B200720082012201320142017201820192023202420252026

Shareholders received $6.0B in buybacks in 2025. Stock compensation issued $1.4B of new shares in the same year, offsetting 23% of that.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-28

Johnson & JohnsonJNJ
Dilution rate

How fast is your ownership being diluted - or concentrated?

-5.0%0.0%2008201220132.3%20142017201820192023202420250.0%

The share count shrank 0.0% in 2025, averaging 3.2% a year over three years. Buybacks are concentrating your ownership: the same business, split fewer ways.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-28

Johnson & JohnsonJNJ
Dilution against what it bought

JNJ has issued or retired shares - did shareholders end up better off?

01002007200820122013201420172018201920232024202583185

JNJ has shrunk its share count -17% from 2007 to 2025, so each remaining share owns more of the business. Revenue per share is +85% over the same years.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-28

Johnson & JohnsonJNJ
Insider flow

Are the people running it buying or selling?

$50M$25M0.00Feb '26Jun '26Jul '26Aug '26Sep '26

Insiders sold $129M on the open market and bought nothing. Many sales are pre-scheduled diversification rather than a view on the price. A further 36 filings were grants, option exercises or tax withholding, which say nothing either way.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-28

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