Johnson & Johnson

JNJ Healthcare Drug Manufacturers General

Johnson & Johnson’s revenue for fiscal 2025 (year ended December 2025) was $94.2 billion, up 6.05% from fiscal 2024. In the quarter to September 2026, revenue grew 5.86%, EPS was flat, free cash flow grew 154.8% and total debt fell 4.82%, each against the same quarter a year earlier. Member of the S&P 500 and Dow Jones; dividend growth for twenty-five consecutive years, revenue growth for three, operating cash flow growth for three; insiders bought in the last twelve months.

255.55 2.27 +0.90%
Market cap
$610.4B
P/E
29.6×
Fwd P/E
24.9×
Dividend yield
2.07%
F-score
3/9
Altman Z
4.78
Beneish M
−2.26
Dividend safety
78/100

Johnson & Johnson (JNJ) Price to free cash flow

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As of 16 October 2026, Johnson & Johnson (JNJ) trades at a price to free cash flow of 27.1×. Over the past ten years it has ranged from 12.7× (March 2020) to 34.1× (June 2026); the current reading is higher than 92% of that period. That is above the Drug Manufacturers General industry median of 16.5× and above the Healthcare sector median of 20.2×.

Price to free cash flow, daily

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Annual newest first

Period Price to free cash flow Change
FY2025 24.4× 43.80%
FY2024 17.0× (22.10%)
FY2023 21.8× (17.45%)
FY2022 26.4× 19.95%
FY2021 22.0× 8.80%
FY2020 20.2× 21.48%
FY2019 16.6× 4.53%
FY2018 15.9× (16.70%)
FY2017 19.1× 1.32%
FY2016 18.9× 29.67%

Quarterly newest first

Period Price to free cash flow Change
Sep 2026 28.0× 4.24%
Jun 2026 26.9× (16.58%)
Mar 2026 32.3× 32.19%
Dec 2025 24.4× 9.60%
43 more quarters

Against its own ten years

Low 12.7× High 34.1×
Ten-year median 19.1×
Current reading's percentile 92

Price to free cash flow against peers

Company Price to free cash flow
GILD Gilead Sciences, Inc. compare 15.0×
PFE Pfizer Inc. compare 16.5×
NVS Novartis AG compare 18.9×
MRK Merck & Co., Inc. compare 22.4×
AMGN Amgen Inc. compare 24.0×
JNJ Johnson & Johnson 27.1×
ABBV AbbVie Inc. compare 27.7×
AZN AstraZeneca PLC compare 40.9×
LLY Eli Lilly and Company compare 55.0×
Drug Manufacturers General industry median 16.5×
Healthcare sector median 20.2×
Market median 14.2×

What Price to free cash flow is

Price to Free Cash Flow Ratio shows how much investors pay for each dollar of cash a company generates after its capital spending.

Stock Price ÷ ((Operating Cash Flow (TTM) + Property, Plant, Equipment Change (Net) (TTM) + Intangible Assets Change (Net) (TTM)) ÷ (Shares (Basic, Weighted) (latest quarter)))

The full definition of Price to free cash flow →

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