NYSE : JNJ
Johnson & Johnson — Financial statements
Healthcare · Drug Manufacturers - General · United States
Last price 275.2 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 662.49B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Johnson & Johnson (JNJ) reported revenue of 99.33B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 99.33B | 94.19B | 88.82B | 85.16B | 79.99B | 78.74B |
| Cost of Revenue | 32.01B | 30.07B | 27.04B | 26.24B | 24.60B | 23.40B |
| Gross Profit | 67.32B | 64.13B | 61.78B | 58.91B | 55.39B | 55.34B |
| Selling, General & Admin | 24.83B | 23.13B | 21.95B | 20.17B | 19.08B | 19.51B |
| Research & Development | 16.08B | 14.66B | 17.23B | 15.09B | 14.13B | 14.28B |
| Operating Expenses | 40.91B | 37.80B | 39.18B | 35.25B | 33.21B | 33.78B |
| Operating Income | 26.41B | 26.33B | 22.60B | 23.66B | 22.18B | 21.55B |
| Interest Expense | -984.00M | -971.00M | -755.00M | -772.00M | -276.00M | -183.00M |
| Interest & Investment Income | 871.00M | 1.06B | 1.33B | 1.26B | 490.00M | 53.00M |
| Currency Exchange Gain (Loss) | -314.00M | -254.00M | -214.00M | -366.00M | -286.00M | -216.00M |
| Other Non Operating Income (Expenses) | 112.00M | 851.00M | 1.38B | -17.94B | -556.00M | -550.00M |
| EBT Excluding Unusual Items | 26.10B | 27.02B | 24.35B | 5.85B | 21.55B | 20.66B |
| Merger & Restructuring Charges | -743.00M | -812.00M | -1.47B | -798.00M | -575.00M | -209.00M |
| Gain (Loss) on Sale of Investments | 481.00M | 400.00M | -300.00M | |||
| Gain (Loss) on Sale of Assets | 263.00M | 263.00M | 226.00M | 117.00M | 380.00M | 617.00M |
| Asset Writedown | -204.00M | -204.00M | -405.00M | -1.29B | -1.22B | -989.00M |
| Legal Settlements | -7.00B | 6.00B | -5.50B | 11.50B | ||
| Pretax Income | 17.74B | 32.58B | 16.69B | 15.06B | 19.36B | 19.18B |
| Income Tax Expense | 1.64B | 5.78B | 2.62B | 1.74B | 2.99B | 1.38B |
| Earnings From Continuing Operations | 16.09B | 26.80B | 14.07B | 13.33B | 16.37B | 17.80B |
| Earnings From Discontinued Operations | 21.83B | 1.57B | 3.08B | |||
| Net Income | 16.09B | 26.80B | 14.07B | 35.15B | 17.94B | 20.88B |
| Net Income to Common | 16.09B | 26.80B | 14.07B | 35.15B | 17.94B | 20.88B |
| Shares Outstanding (Basic) | 2.41B | 2.41B | 2.41B | 2.53B | 2.63B | 2.63B |
| Shares Outstanding (Diluted) | 2.45B | 2.43B | 2.43B | 2.56B | 2.66B | 2.67B |
| EPS (Basic) | 6.68 | 11.13 | 5.84 | 13.88 | 6.83 | 7.93 |
| EPS (Diluted) | 6.58 | 11.03 | 5.79 | 13.72 | 6.73 | 7.81 |
| Free Cash Flow | 20.59B | 19.70B | 19.84B | 18.41B | 17.49B | 19.76B |
| Free Cash Flow Per Share | 8.42 | 8.11 | 8.17 | 7.19 | 6.57 | 7.39 |
| Dividend Per Share | 5.28 | 5.14 | 4.91 | 4.70 | 4.45 | 4.19 |
| Gross Margin | 67.77% | 68.08% | 69.56% | 69.18% | 69.25% | 70.28% |
| Operating Margin | 26.59% | 27.96% | 25.45% | 27.79% | 27.73% | 27.38% |
| Profit Margin | 16.20% | 28.46% | 15.84% | 41.28% | 22.43% | 26.52% |
| Free Cash Flow Margin | 20.73% | 20.91% | 22.34% | 21.62% | 21.86% | 25.09% |
| EBITDA | 34.50B | 33.84B | 29.94B | 30.77B | 28.51B | 28.21B |
| EBITDA Margin | 34.73% | 35.92% | 33.71% | 36.13% | 35.64% | 35.82% |
| D&A For EBITDA | 8.09B | 7.50B | 7.34B | 7.10B | 6.33B | 6.65B |
| EBIT | 26.41B | 26.33B | 22.60B | 23.66B | 22.18B | 21.55B |
| EBIT Margin | 26.59% | 27.96% | 25.45% | 27.79% | 27.73% | 27.38% |
| Effective Tax Rate | 9.26% | 17.73% | 15.71% | 11.53% | 15.44% | 7.18% |
| Advertising Expenses | 1.60B | 600.00M | 500.00M | 700.00M | 1.20B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 16.91B | 19.71B | 24.11B | 21.86B | 12.89B | 14.49B |
| Short-Term Investments | 318.00M | 393.00M | 417.00M | 1.07B | 9.39B | 17.12B |
| Cash & Short-Term Investments | 17.23B | 20.10B | 24.52B | 22.93B | 22.28B | 31.61B |
| Receivables | 18.99B | 17.18B | 14.84B | 14.87B | 14.04B | 15.28B |
| Inventory | 15.38B | 14.19B | 12.44B | 11.18B | 10.27B | 10.39B |
| Prepaid Expenses | 4.76B | 4.15B | 4.08B | 4.51B | 2.88B | 3.70B |
| Other Current Assets | 5.83B | |||||
| Total Current Assets | 56.35B | 55.62B | 55.89B | 53.49B | 55.29B | 60.98B |
| Property, Plant & Equipment | 24.10B | 24.47B | 21.62B | 20.90B | 18.98B | 19.86B |
| Long-Term Investments | 2.15B | 1.57B | 5.52B | 9.07B | 1.19B | 2.38B |
| Goodwill | 48.47B | 48.77B | 44.20B | 36.56B | 36.05B | 35.25B |
| Other Intangible Assets | 46.65B | 50.40B | 37.62B | 34.17B | 38.49B | 46.39B |
| Long-Term Deferred Tax Assets | 6.75B | 6.87B | 10.46B | 9.28B | 8.95B | 10.22B |
| Other Long-Term Assets | 12.95B | 11.49B | 4.79B | 4.08B | 28.43B | 6.93B |
| Total Assets | 197.43B | 199.21B | 180.10B | 167.56B | 187.38B | 182.02B |
| Accounts Payable | 9.32B | 11.99B | 10.31B | 9.63B | 9.89B | 11.05B |
| Accrued Expenses | 35.31B | 32.25B | 30.25B | 30.21B | 27.35B | 29.29B |
| Short-Term Debt | 5.60B | 6.50B | 4.23B | 1.98B | 11.21B | 1.64B |
| Current Portion of Long-Term Debt | 3.25B | 2.00B | 1.75B | 1.47B | 1.55B | 2.13B |
| Current Income Taxes Payable | 1.98B | 1.39B | 3.77B | 2.99B | 2.22B | 1.11B |
| Other Current Liabilities | 3.59B | |||||
| Total Current Liabilities | 55.46B | 54.13B | 50.32B | 46.28B | 55.80B | 45.23B |
| Long-Term Debt | 35.80B | 39.44B | 30.65B | 25.88B | 26.89B | 29.98B |
| Long-Term Leases | 1.40B | 1.20B | 1.10B | 1.10B | 1.00B | |
| Pension & Post-Retirement Benefits | 6.56B | 6.96B | 7.25B | 7.15B | 6.54B | 8.90B |
| Long-Term Deferred Tax Liabilities | 4.83B | 6.79B | 2.45B | 3.19B | 3.99B | 7.49B |
| Other Long-Term Liabilities | 13.25B | 8.95B | 16.74B | 15.18B | 16.25B | 15.40B |
| Total Liabilities | 115.90B | 117.67B | 108.61B | 98.78B | 110.57B | 108.00B |
| Common Stock | 3.12B | 3.12B | 3.12B | 3.12B | 3.12B | 3.12B |
| Retained Earnings | 168.36B | 168.98B | 155.79B | 153.84B | 128.34B | 123.06B |
| Treasury Stock | -76.18B | -75.62B | -75.68B | -75.66B | -41.69B | -39.10B |
| Comprehensive Income & Other | -13.77B | -14.93B | -11.74B | -12.53B | -12.97B | -13.06B |
| Shareholders' Equity | 81.53B | 81.54B | 71.49B | 68.77B | 76.80B | 74.02B |
| Total Liabilities & Equity | 197.43B | 199.21B | 180.10B | 167.56B | 187.38B | 182.02B |
| Total Debt | 44.65B | 49.33B | 37.83B | 30.43B | 40.74B | 34.75B |
| Net Cash (Debt) | -27.42B | -29.23B | -13.31B | -7.50B | -18.46B | -3.14B |
| Net Cash Per Share | -11.22 | -12.03 | -5.48 | -2.93 | -6.93 | -1.18 |
| Filing Date Shares Outstanding | 2.41B | 2.41B | 2.41B | 2.41B | 2.60B | 2.63B |
| Total Common Shares Outstanding | 2.41B | 2.41B | 2.41B | 2.41B | 2.61B | 2.63B |
| Working Capital | 894.00M | 1.50B | 5.57B | 7.21B | -508.00M | 15.75B |
| Book Value Per Share | 33.87 | 33.86 | 29.70 | 28.57 | 29.39 | 28.16 |
| Tangible Book Value | -13.60B | -17.63B | -10.33B | -1.96B | 2.27B | -7.62B |
| Tangible Book Value Per Share | -5.65 | -7.32 | -4.29 | -0.81 | 0.87 | -2.90 |
| Land | 701.00M | 718.00M | 795.00M | 784.00M | 884.00M | |
| Buildings | 13.43B | 12.32B | 12.38B | 11.47B | 12.88B | |
| Machinery | 32.87B | 29.44B | 28.98B | 26.60B | 29.77B | |
| Construction In Progress | 7.36B | 6.29B | 5.63B | 4.68B | 4.14B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 16.09B | 26.80B | 14.07B | 35.15B | 17.94B | 20.88B |
| Depreciation & Amortization | 8.09B | 7.50B | 7.34B | 7.10B | 6.33B | 6.65B |
| Loss (Gain) From Sale of Assets | -159.00M | -263.00M | -226.00M | -117.00M | -380.00M | -617.00M |
| Asset Writedown & Restructuring Costs | 1.85B | 313.00M | 2.25B | 1.78B | 1.22B | 989.00M |
| Stock-Based Compensation | 1.42B | 1.35B | 1.18B | 1.16B | 1.14B | 1.14B |
| Provision & Write-off of Bad Debts | 10.00M | -1.00M | 11.00M | -17.00M | -48.00M | |
| Other Operating Activities | -5.79B | 1.54B | -2.18B | -4.19B | -1.66B | -2.08B |
| Change in Accounts Receivable | -1.37B | -1.78B | -406.00M | -624.00M | -1.29B | -2.40B |
| Change in Inventory | -1.20B | -1.45B | -1.13B | -1.32B | -2.53B | -1.25B |
| Change in Accounts Payable | 2.71B | 2.38B | 1.62B | 2.35B | 1.10B | 2.44B |
| Change in Other Net Operating Assets | 4.49B | -11.86B | 1.75B | 2.11B | -1.29B | -3.02B |
| Operating Cash Flow | 26.16B | 24.53B | 24.27B | 22.79B | 21.19B | 23.41B |
| Capital Expenditures | -5.57B | -4.83B | -4.42B | -4.38B | -3.71B | -3.65B |
| Sale of Property, Plant & Equipment | 400.00M | 720.00M | 675.00M | 358.00M | 543.00M | 711.00M |
| Cash Acquisitions | -4.04B | -17.54B | -15.15B | -17.65B | -60.00M | |
| Sale (Purchase) of Intangibles | -385.00M | -385.00M | -1.78B | -470.00M | ||
| Investment in Securities | -566.00M | 741.00M | 736.00M | 8.48B | 9.22B | -5.39B |
| Other Investing Activities | 820.00M | -2.29B | 1.34B | -3.11B | -781.00M | -294.00M |
| Investing Cash Flow | -9.34B | -23.59B | -18.60B | 878.00M | -12.37B | -8.68B |
| Short-Term Debt Issued | 14.59B | 15.28B | 13.74B | 16.13B | 2.00B | |
| Long-Term Debt Issued | 9.14B | 6.66B | 2.00M | 5.00M | ||
| Total Debt Issued | 19.34B | 23.72B | 21.94B | 13.74B | 16.14B | 2.00B |
| Short-Term Debt Repaid | -12.33B | -9.46B | -22.97B | -6.55B | -1.19B | |
| Long-Term Debt Repaid | -1.76B | -1.45B | -1.55B | -2.13B | -1.80B | |
| Total Debt Repaid | -20.12B | -14.09B | -10.92B | -24.52B | -8.68B | -2.99B |
| Net Debt Issued (Repaid) | -787.00M | 9.64B | 11.02B | -10.78B | 7.45B | -990.00M |
| Issuance of Common Stock | 3.86B | 3.42B | 838.00M | 1.09B | 1.33B | 1.04B |
| Repurchase of Common Stock | -7.88B | -5.95B | -2.43B | -5.05B | -6.04B | -3.46B |
| Common Dividends Paid | -12.72B | -12.38B | -11.82B | -11.77B | -11.68B | -11.03B |
| Other Financing Activities | -625.00M | -260.00M | -736.00M | 10.69B | 65.00M | 395.00M |
| Financing Cash Flow | -18.15B | -5.54B | -3.13B | -15.82B | -8.87B | -14.05B |
| Foreign Exchange Rate Adjustments | 13.00M | 201.00M | -289.00M | -112.00M | -312.00M | -178.00M |
| Net Cash Flow | -1.32B | -4.40B | 2.25B | 7.73B | -360.00M | 502.00M |
| Free Cash Flow | 20.59B | 19.70B | 19.84B | 18.41B | 17.49B | 19.76B |
| Free Cash Flow Margin | 20.73% | 20.91% | 22.34% | 21.62% | 21.86% | 25.09% |
| Free Cash Flow Per Share | 8.42 | 8.11 | 8.17 | 7.19 | 6.57 | 7.39 |
| Levered Free Cash Flow | 18.50B | 16.63B | 16.67B | 19.95B | 15.40B | 15.77B |
| Unlevered Free Cash Flow | 19.12B | 17.24B | 17.14B | 20.43B | 15.57B | 15.88B |
| Cash Interest Paid | 1.86B | 1.86B | 1.91B | 1.77B | 933.00M | 941.00M |
| Cash Income Tax Paid | 6.54B | 6.54B | 6.71B | 8.57B | 5.22B | 4.77B |
| Change in Working Capital | 4.64B | -12.72B | 1.84B | 2.51B | -4.01B | -4.24B |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 657.68B | 500.24B | 349.23B | 377.32B | 461.85B | 450.36B |
| Enterprise Value | 685.10B | 527.47B | 364.68B | 383.73B | 459.80B | 451.42B |
| Last Close Price | 273.20 | 204.34 | 138.51 | 145.08 | 158.70 | 149.75 |
| PE Ratio | 41.49 | 18.66 | 24.83 | 10.73 | 25.74 | 21.57 |
| Forward PE | 24.56 | 18.78 | 14.42 | 15.05 | 17.49 | 16.98 |
| PS Ratio | 6.62 | 5.31 | 3.93 | 4.43 | 5.77 | 5.72 |
| PB Ratio | 8.07 | 6.13 | 4.88 | 5.49 | 6.01 | 6.08 |
| P/TBV Ratio | 203.64 | |||||
| P/FCF Ratio | 31.94 | 25.40 | 17.60 | 20.50 | 26.41 | 22.79 |
| P/OCF Ratio | 25.14 | 20.39 | 14.39 | 16.56 | 21.79 | 19.24 |
| PEG Ratio | 3.34 | 3.07 | 2.72 | 3.52 | 4.25 | 2.62 |
| EV/Sales Ratio | 6.90 | 5.60 | 4.11 | 4.51 | 5.75 | 5.73 |
| EV/EBITDA Ratio | 19.86 | 15.59 | 12.18 | 12.47 | 16.13 | 16.00 |
| EV/EBIT Ratio | 25.94 | 20.03 | 16.14 | 16.22 | 20.73 | 20.94 |
| EV/FCF Ratio | 33.27 | 26.78 | 18.38 | 20.84 | 26.29 | 22.85 |
| Debt / Equity Ratio | 0.55 | 0.60 | 0.53 | 0.44 | 0.53 | 0.47 |
| Debt / EBITDA Ratio | 1.29 | 1.45 | 1.26 | 0.98 | 1.42 | 1.22 |
| Debt / FCF Ratio | 2.17 | 2.50 | 1.91 | 1.65 | 2.33 | 1.76 |
| Net Debt / Equity Ratio | 0.34 | 0.36 | 0.19 | 0.11 | 0.24 | 0.04 |
| Net Debt / EBITDA Ratio | 0.80 | 0.86 | 0.45 | 0.24 | 0.65 | 0.11 |
| Net Debt / FCF Ratio | 1.33 | 1.48 | 0.67 | 0.41 | 1.06 | 0.16 |
| Asset Turnover | 0.51 | 0.50 | 0.51 | 0.48 | 0.43 | 0.44 |
| Inventory Turnover | 2.17 | 2.26 | 2.29 | 2.45 | 2.38 | 2.37 |
| Quick Ratio | 0.65 | 0.69 | 0.78 | 0.82 | 0.65 | 1.04 |
| Current Ratio | 1.02 | 1.03 | 1.11 | 1.16 | 0.99 | 1.35 |
| Return on Equity (ROE) | 20.02% | 35.03% | 20.06% | 18.31% | 21.71% | 25.93% |
| Return on Assets (ROA) | 8.46% | 8.68% | 8.13% | 8.33% | 7.51% | 7.55% |
| Return on Invested Capital (ROIC) | 21.57% | 22.15% | 23.65% | 24.41% | 21.75% | 26.39% |
| Return on Capital Employed (ROCE) | 18.60% | 18.20% | 17.40% | 19.50% | 16.90% | 15.80% |
| Earnings Yield | 2.41% | 5.36% | 4.03% | 9.32% | 3.89% | 4.64% |
| FCF Yield | 3.13% | 3.94% | 5.68% | 4.88% | 3.79% | 4.39% |
| Dividend Yield | 1.96% | 2.47% | 3.38% | 3.00% | 2.52% | 2.45% |
| Payout Ratio | 81.40% | 46.19% | 84.05% | 33.48% | 65.11% | 52.84% |
| Buyback Yield / Dilution | -0.80% | -0.00% | 5.12% | 3.89% | 0.38% | -0.12% |
| Total Shareholder Return | 1.17% | 2.47% | 8.50% | 6.88% | 2.90% | 2.32% |