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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
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total buys 0.26
Total sells 150.67
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy 1 — — — — — — — — — — —
Sell — — 1 7 — — — 1 1 4 1 —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 610,380.00
Revenue 99,335.00
Net Income 21,037.00
Free Cash Flow 22,724.00
Net Debt 16,586.00
Current Ratio 1.09
Debt/Equity 0.44 (at or below 0.5: strong)
P/E ratio 29.61
Fwd P/E 24.90
P/S ratio 6.19
P/B ratio 7.24 (above 6: high)
Past 5Y EPS Growth 14.89%
This Y EPS Growth 3.43%
Next Y EPS Growth 5.87%
Next Y revenue growth 7.46%
Next 5Y EPS Growth 9.11%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 6.4×, against a ten-year median of 4.8×; over the ten years it ranged from 3.8× in 2016 to 6.7× in 2026.
P/E against its own 10 years 82.57%
10-year low 10-year high
P/S against its own 10 years 96.76%
10-year low 10-year high
P/B against its own 10 years 97.31%
10-year low 10-year high
EV/Sales against its own 10 years 96.65%
10-year low 10-year high
EV/FCF against its own 10 years 91.74%
10-year low 10-year high

Dividends

Payout Ratio 0.80
Annual Dividend Rate 5.28
Annual Dividend Yield 2.07%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 5.34
1.30
1.34
1.34
2025 5.14
1.24
1.30
1.30
1.30
2024 4.91
1.19
1.24
1.24
1.24
2023 4.70
1.13
1.19
1.19
1.19
2022 4.45
1.06
1.13
1.13
1.13
2021 4.19
1.01
1.06
1.06
1.06
2020 3.98
0.95
1.01
1.01
1.01
2019 3.75
0.90
0.95
0.95
0.95
2018 3.54
0.84
0.90
0.90
0.90
2017 3.32
0.80
0.84
0.84
0.84
2016 3.15
0.75
0.80
0.80
0.80
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 22,927 24,522 20,102 20,758
Receivables 14,873 14,842 17,178 19,046
Inventory 11,181 12,444 14,191 15,144
Other — — — —
53,495 55,893 55,624 59,774
2023 2024 2025 Q'26
Payables 9,632 10,311 11,991 9,223
ST’ Debt — — — —
Other — — — —
46,282 50,321 54,126 54,895

Compound Annual Growth %

10y 5y 3y
Sales 3.00% 2.67% 5.60%
Cash Flow 2.29% 0.83% 4.99%
Earnings 5.69% 12.74% 14.32%
Book Value 1.37% 5.20% 2.02%

Revenue $m

Mar Jun Sep Dec Year
’26 24,062 25,310 25,399 — —
’25 21,893 23,743 23,993 24,564 94,193
’24 21,383 22,447 22,471 22,520 88,821
’23 20,894 21,519 21,351 21,395 85,159
’22 23,426 24,020 19,996 12,548 79,990
’21 22,321 23,312 23,338 9,769 78,740
’20 20,691 18,336 21,082 22,475 82,584
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 2,514 8,616 — — —
’25 4,174 3,878 9,169 7,309 24,530
’24 3,657 5,633 7,993 6,983 24,266
’23 3,257 4,182 7,489 7,863 22,791
’22 3,979 5,581 6,284 5,350 21,194
’21 4,074 5,314 8,290 5,732 23,410
’20 3,358 3,452 8,383 8,343 23,536
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 1,494 7,358 — — —
’25 3,658 2,888 8,088 5,784 20,418
’24 3,060 5,020 7,014 5,423 20,517
’23 2,434 3,134 6,643 6,395 18,606
’22 3,620 4,784 5,340 3,984 17,728
’21 4,000 4,552 7,555 4,362 20,469
’20 2,750 2,860 7,659 7,225 20,494
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 2.14 2.27 0.09 — —
’25 4.54 2.29 2.12 2.10 11.03
’24 1.34 1.93 1.11 1.41 5.79
’23 (0.03) 1.96 10.21 1.67 13.72
’22 1.93 1.80 1.68 1.33 6.73
’21 2.32 2.35 1.37 1.77 7.81
’20 2.17 1.36 1.33 0.65 5.51
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.9
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 94.28 110.76 118.62 125.00 109.16 151.47 155.72 144.95 142.75 140.68

Analyst estimates 2026–2028

Powerpack
High 126.07 144.35 148.99 147.84 157.66 179.92 186.69 180.93 168.85 215.19
People
People Employees 126,400 134,000 135,100 132,200 134,500 141,700 155,800 131,900 138,100 138,200
Revenue/emp, $m 0.57 0.57 0.60 0.62 0.61 0.56 0.51 0.65 0.64 0.68
Income, $m
Income, $m Revenue 71,890 76,450 81,581 82,059 82,584 78,740 79,990 85,159 88,821 94,193
Gross margin, % 69.69 66.72 66.79 66.42 65.58 70.28 69.25 68.82 69.07 67.88
EBT 19,803 17,673 17,999 17,328 16,497 19,178 19,359 15,062 16,687 32,581
EBT margin, % 27.55 23.12 22.06 21.12 19.98 24.36 24.20 17.69 18.79 34.59
Net income 16,540 1,300 15,297 15,119 14,714 20,878 17,941 35,153 14,066 26,804
Depreciation 3,754 5,642 6,929 7,009 7,231 7,390 6,970 7,486 7,339 7,503
Per share, $
Per share, $ Revenue 26.26 28.40 30.42 31.02 31.37 29.92 30.47 33.61 36.90 39.13
Earnings 5.93 0.47 5.61 5.63 5.51 7.81 6.73 13.72 5.79 11.03
Cash flow 6.86 7.82 8.28 8.85 8.94 8.89 8.07 9.00 10.08 10.19
Capex (0.72) (0.54) (0.17) (0.09) (1.16) (1.12) (1.32) (1.65) (1.56) (1.71)
Free cash flow 6.14 7.28 8.11 8.76 7.78 7.78 6.75 7.34 8.52 8.48
Book value 25.73 22.35 22.28 22.48 24.03 28.12 29.26 27.15 29.70 33.87
Shares, m 2,737 2,692 2,682 2,645 2,633 2,632 2,625 2,534 2,407 2,407
Valuation, ×
Valuation, × P/E 19.70 357.00 23.00 25.89 28.56 21.90 26.44 11.58 24.93 18.73
P/S 4.41 4.90 4.24 4.70 5.02 5.72 5.85 4.76 3.92 5.29
P/B 4.36 6.23 5.79 6.49 6.55 6.08 6.09 5.89 4.87 6.11
EV/Sales 4.14 5.06 4.34 4.79 5.11 5.70 5.91 4.79 3.99 5.49
EV/FCF 17.71 19.75 16.29 16.95 20.58 21.92 26.65 21.94 17.27 25.35
Cash, $m
Cash, $m Operating cash flow 18,767 21,056 22,201 23,416 23,536 23,410 21,194 22,791 24,266 24,530
Capex (1,959) (1,447) (467) (233) (3,042) (2,941) (3,466) (4,185) (3,749) (4,112)
Free cash flow 16,808 19,609 21,734 23,183 20,494 20,469 17,728 18,606 20,517 20,418
Balance, $m
Balance, $m Working capital 38,745 12,551 14,803 9,310 8,744 15,753 (508) 7,213 5,572 1,498
Total debt 22,442 30,675 27,684 26,494 32,635 29,985 26,886 25,881 30,651 39,438
Net debt (19,465) 12,379 7,997 7,207 7,450 (1,623) 4,605 2,954 6,129 19,336
Shareholders’ equity 70,418 60,160 59,752 59,471 63,278 74,023 76,804 68,774 71,490 81,544
Returns, %
Returns, % ROA 12.05 0.87 9.86 9.73 8.85 11.70 9.71 19.81 8.09 14.13
ROIC 24.29 15.23 16.60 16.24 14.58 16.56 14.86 13.12 13.44 20.19
ROE 23.60 1.99 25.51 25.36 23.97 30.41 23.79 48.29 20.06 35.03
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 14 Oct 2026

Charts ten years each

Johnson & Johnson vs peers in Drug Manufacturers General (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
LLY Eli Lilly and Company $1.18T 42.2× 33.1× +47.67% (above 0%: growing) +26.23% (above 0%: growing) +458.06% (above 0%: growing) 85.78% 39.08% Compare
JNJ Johnson & Johnson $610.4B 29.6× 24.9× +5.86% (above 0%: growing) −0.87% (below 0%: shrinking) +154.78% (above 0%: growing) 68.12% 0.01%
ABBV AbbVie Inc. $500.8B 80.6× 27.8× +10.16% (above 0%: growing) +290.38% (above 0%: growing) −36.24% (below 0%: shrinking) 74.74% 37.86% Compare
MRK Merck & Co., Inc. $358.2B 117× 53.9× +5.07% (above 0%: growing) n/m +77.03% (above 0%: growing) 73.54% (2.61%) Compare
NVS Novartis AG $275.3B 22.6× 20.6× +0.78% (above 0%: growing) −17.39% (below 0%: shrinking) −15.53% (below 0%: shrinking) 75.19% 31.77% Compare
AZN AstraZeneca PLC $258.5B 24.5× 23.4× +6.41% (above 0%: growing) +1.90% (above 0%: growing) −107.45% (below 0%: shrinking) 83.60% 20.57% Compare
AMGN Amgen Inc. $234.7B 26.7× 22.7× +9.53% (above 0%: growing) +65.41% (above 0%: growing) +82.57% (above 0%: growing) 72.04% 34.95% Compare
GILD Gilead Sciences, Inc. $195.1B — (loss-making) — (loss-making) +10.18% (above 0%: growing) n/m +376.81% (above 0%: growing) 79.76% (133.21%) Compare
PFE Pfizer Inc. $167.8B 38.9× 12.2× +2.60% (above 0%: growing) n/m +125.17% (above 0%: growing) 72.78% 20.38% Compare
Median of peers $266.9B 38.9× 23.4× +7.97% +26.23% +79.80% 74.96% 26.17%

All 21 Drug Manufacturers General stocks →

JNJ metrics, ten years each

Johnson & Johnson (JNJ) key facts

  • Strength: Johnson & Johnson’s revenue for fiscal 2025 (year ended December 2025) was $94.2 billion, up 6.05% from fiscal 2024.
  • Johnson & Johnson (JNJ) is a Drug Manufacturers General company in the Healthcare sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, JNJ traded at $255.55, a market capitalization of $610.4 billion.
  • Johnson & Johnson pays an annual dividend of $5.28 per share, a yield of 2.07%, with a payout ratio of 80.1%.
  • Return on equity was 35.0% and debt-to-equity 0.44.
  • Its Piotroski F-score is 3 out of 9 and its Altman Z-score is 4.78 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations · fundamentals updated Oct 14, 2026.

Johnson & Johnson (JNJ) Latest News

8 Jul

Impact 5 ·

21 Apr

Impact 5 ·
stockrow.com/JNJ · Data as of Oct 14, 2026 · For information only; not investment advice. · © 2026 stockrow.com