Johnson & Johnson (JNJ) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 27	$2.85	$2.9	+1.8%	—	—	—
Q4 26	$2.68	$2.7	+0.7%	—	—	—
Q3 26	$2.46	$2.46	0.0%	—	—	—
Q2 26	$2.76	$2.8	+1.4%	—	—	—
Q1 26	$2.68	$2.77	+3.4%	—	—	—
Q4 25	$2.58	$2.77	+7.4%	—	—	—
Q3 25	$2.01	$2.04	+1.5%	—	—	—
Q2 25	$2.21	$2.42	+9.5%	—	—	—
Q1 25	$2.7	$2.82	+4.4%	—	—	—
Q4 24	$2.65	$2.71	+2.3%	—	—	—
Q3 24	$2.28	$2.29	+0.4%	—	—	—
Q2 24	$2.52	$2.66	+5.6%	—	—	—
Q1 24	$2.62	$2.8	+6.9%	—	—	—
Q4 23	$2.5	$2.68	+7.2%	—	—	—
Q3 23	$2.24	$2.35	+4.9%	—	—	—
Q2 23	$2.49	$2.55	+2.4%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$11.1	—	—	$94.2B	—
FY24	—	$5.84	—	—	$88.8B	—
FY23	—	$13.9	—	—	$85.2B	—
FY22	—	$6.86	—	—	$80B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$71.9B	$76.5B	$81.6B	$82.1B	$82.6B	$78.7B	$80B	$85.2B	$88.8B	$94.2B
YoY change	+2.59%	+6.34%	+6.71%	+0.59%	+0.64%	-4.65%	+1.59%	+6.46%	+4.3%	+6.05%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	71.9B	76.5B	81.6B	82.1B	82.6B	78.7B	80B	85.2B	88.8B	94.2B
Cost of revenue	21.8B	25.4B	27.1B	27.6B	28.4B	23.4B	24.6B	26.6B	27.5B	30.3B
Gross profit	50.1B	51B	54.5B	54.5B	54.2B	55.3B	55.4B	58.6B	61.4B	63.9B
Gross margin	69.7%	66.7%	66.8%	66.4%	65.6%	70.3%	69.3%	68.8%	69.1%	67.9%
Research & development	9.1B	10.6B	10.8B	11.4B	12.3B	14.3B	14.1B	15.1B	17.2B	14.7B
Selling, general & administrative	20.1B	21.5B	22.5B	22.2B	22.1B	20.1B	19B	20.1B	22.9B	23.7B
Operating expenses	29.2B	32.1B	33.3B	33.5B	34.4B	34.4B	33.2B	35.2B	40.1B	38.3B
Operating income	20.9B	18.9B	21.2B	21B	19.7B	20.9B	22.2B	23.4B	21.2B	25.6B
Operating margin	29.1%	24.7%	26%	25.6%	23.9%	26.6%	27.8%	27.5%	23.9%	27.2%
Non-operating income, net	-730M	-675M	-2.8B	-3.7B	-3.1B	-1.6B	-3.1B	-8.8B	-5.1B	6.9B
Pretax income	19.8B	17.7B	18B	17.3B	16.5B	19.2B	19.4B	15.1B	16.7B	32.6B
Income tax	3.3B	16.4B	2.7B	2.2B	1.8B	1.4B	3B	1.7B	2.6B	5.8B
Net income	16.5B	1.3B	15.3B	15.1B	14.7B	20.9B	17.9B	35.2B	14.1B	26.8B
Net margin	23%	1.7%	18.8%	18.4%	17.8%	26.5%	22.4%	41.3%	15.8%	28.5%
EBITDA	24.8B	25B	27.3B	25.8B	24.2B	27.9B	30.2B	32.3B	31.9B	35.2B
EPS	6.08	0.48	5.75	5.74	5.59	7.93	6.86	13.9	5.84	11.1
Diluted EPS	5.93	0.47	5.61	5.63	5.51	7.81	6.73	13.7	5.79	11

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	21.4B	21.4B	21.4B	22.4B	22.5B	22.5B	21.9B	23.7B	24B	24.6B	24.1B	25.3B
Cost of revenue	6.6B	6.8B	6.5B	6.9B	7B	7.1B	7.4B	7.6B	7.3B	8B	8.1B	8.1B
Gross profit	14.7B	14.6B	14.9B	15.6B	15.5B	15.4B	14.5B	16.1B	16.7B	16.6B	16B	17.3B
Gross margin	69.1%	68.2%	69.6%	69.4%	69%	68.3%	66.4%	67.9%	69.6%	67.6%	66.3%	68.2%
Research & development	3.4B	4.5B	3.5B	3.4B	5B	5.3B	3.2B	3.5B	3.7B	4.3B	3.5B	3.7B
Selling, general & administrative	5.1B	5.5B	5.1B	5.5B	5.3B	6.5B	5.1B	5.9B	5.9B	6.8B	6B	6.4B
Operating expenses	8.5B	10B	8.6B	8.9B	10.2B	11.8B	8.3B	9.4B	9.6B	11B	9.6B	10.1B
Operating income	6.2B	4.6B	6.3B	6.7B	5.3B	3.6B	6.2B	6.7B	7.1B	5.6B	6.4B	7.2B
Operating margin	29%	21.5%	29.3%	29.7%	23.5%	16.2%	28.3%	28.3%	29.6%	22.8%	26.6%	28.3%
Non-operating income, net	-1.2B	-14M	-2.8B	-1.1B	-2B	141M	7.3B	-164M	437M	-665M	-362M	-365M
Pretax income	5.2B	4.8B	3.7B	5.7B	3.3B	3.9B	13.6B	6.5B	7.5B	5B	6B	6.7B
Income tax	908M	694M	459M	1.1B	644M	456M	2.6B	954M	2.3B	-150M	755M	1.2B
Net income	26B	4B	3.3B	4.7B	2.7B	3.4B	11B	5.5B	5.2B	5.1B	5.2B	5.5B
Net margin	121.9%	18.9%	15.2%	20.9%	12%	15.2%	50.2%	23.3%	21.5%	20.8%	21.8%	21.9%
EBITDA	8.5B	6.9B	8.6B	9.3B	7.9B	6B	8.7B	9.2B	9.3B	8B	8.7B	9B
EPS	10.3	1.68	2.2	1.95	1.12	1.43	4.57	2.3	2.14	2.12	2.17	2.3
Diluted EPS	10.2	1.67	2.2	1.93	1.11	1.41	4.54	2.29	2.12	2.1	2.14	2.27

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	311.8B	374.8B	343.6B	384B	414.3B	449.7B	461.7B	397.1B	348.1B	498.3B	655.4B
Enterprise value	297B	391.1B	354.4B	392.4B	424.4B	451.9B	479.1B	403.5B	360.2B	526.2B	681.9B
Shares outstanding	2.7B	2.7B	2.7B	2.6B	2.6B	2.6B	2.6B	2.5B	2.4B	2.4B	2.4B

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	18.9	288.3	22.5	25.4	28.2	21.5	25.7	11.3	24.7	18.6	31.7
P/S	4.34	4.9	4.21	4.68	5.02	5.71	5.77	4.66	3.92	5.29	6.72
P/B	4.43	6.23	5.75	6.46	6.55	6.08	6.01	5.77	4.87	6.11	7.74
EV/EBITDA	12	15.7	13	15.2	17.6	16.2	15.9	12.5	11.3	15	19.6
EV/Sales	4.13	5.12	4.34	4.78	5.14	5.74	5.99	4.74	4.06	5.59	6.96
Earnings yield	5.3%	0.35%	4.45%	3.94%	3.55%	4.64%	3.89%	8.85%	4.04%	5.38%	3.16%
FCF yield	4.98%	4.74%	5.39%	5.19%	4.87%	4.39%	3.72%	4.48%	5.19%	3.88%	2.58%
PEG	—	—	—	—	—	—	—	—	—	—	-277.1

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	69.7%	66.7%	66.8%	66.4%	65.6%	70.3%	69.3%	68.8%	69.1%	67.9%	68.2%
Operating margin	29.1%	24.7%	26%	25.6%	23.9%	26.6%	27.8%	27.5%	23.9%	27.2%	29.2%
Net margin	23%	1.7%	18.8%	18.4%	17.8%	26.5%	22.4%	41.3%	15.8%	28.5%	21.5%
ROE	23.5%	2.16%	25.6%	25.4%	23.3%	28.2%	23.4%	51.1%	19.7%	32.9%	25.7%
ROA	11.7%	0.83%	10%	9.59%	8.41%	11.5%	9.57%	21%	7.81%	13.5%	8.6%
ROIC	31.4%	1.82%	25.5%	27%	24%	25.5%	19.9%	27.5%	21.4%	19.3%	19.4%
Return on tangible assets	39.5%	-10%	-481.9%	-312.6%	-313.3%	111.4%	46.8%	134.7%	85.4%	3.1K%	275.2%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	2.47	1.41	1.47	1.26	1.21	1.35	0.99	1.16	1.11	1.03	1.09
Quick ratio	2.16	1.12	1.2	1.01	0.99	1.12	0.81	0.91	0.86	0.77	0.81
Debt / equity	0.39	0.57	0.51	0.47	0.56	0.46	0.52	0.43	0.51	0.59	0.58
Debt / assets	0.19	0.22	0.2	0.18	0.2	0.19	0.21	0.18	0.2	0.24	0.24
Net debt / EBITDA	-0.6	0.65	0.4	0.33	0.42	0.08	0.58	0.2	0.38	0.79	0.81
Interest coverage	28.3	19.9	18.9	55.5	83.1	105.8	71.1	20.5	23.1	34.6	25.9
Effective tax rate	16.5%	92.6%	15%	12.7%	10.8%	7.18%	15.4%	11.5%	15.7%	17.7%	16.5%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	26.6	28.5	30.6	31.2	31.4	30	30.6	33.6	36.9	39.1	40.7
EPS (basic)	6.08	0.48	5.75	5.74	5.59	7.93	6.86	13.9	5.84	11.1	11.1
EPS (diluted)	5.93	0.47	5.61	5.63	5.51	7.81	6.73	13.7	5.79	11	8.62
Book value per share	26	22.4	22.4	22.6	24	28.2	29.4	27.1	29.7	33.9	35.3
FCF per share	5.74	6.63	6.96	7.57	7.67	7.52	6.58	7.02	7.5	8.02	9.11
Cash per share	15.5	6.82	7.39	7.33	9.57	12	8.53	9.05	10.2	8.35	8.61
Capex per share	1.19	1.22	1.38	1.33	1.27	1.39	1.53	1.79	1.84	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	4.49%	4.29%	4.5%	4.26%	4.05%	4.64%	5.01%	5.33%	4.98%	—	—
Capex / operating cash flow	17.5%	17.4%	20.1%	17.1%	18.4%	17.7%	20.8%	11.3%	19.7%	—	—
Payout ratio	52.1%	687.9%	62.1%	65.6%	71.2%	52.8%	65.1%	33.5%	84.1%	46.2%	60.8%
Dividend yield	2.76%	2.39%	2.76%	2.58%	2.53%	2.45%	2.53%	2.96%	3.4%	2.48%	1.97%

Yield

1.97%

trailing twelve months

Frequency

Quarterly

Last dividend

$1.34

ex-dividend Aug 25, 2026

Payout ratio

61%

of earnings

Dividend growth

19 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 25, 2026	$1.34
May 26, 2026	$1.34
Feb 24, 2026	$1.30

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$21.4B	$21.4B	$21.4B	$22.4B	$22.5B	$22.5B	$21.9B	$23.7B	$24B	$24.6B	$24.1B	$25.3B
YoY change	+6.78%	-9.75%	+2.34%	+4.31%	+5.25%	+5.26%	+2.39%	+5.77%	+6.77%	+9.08%	+9.91%	+6.6%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	41.9B	18.3B	19.7B	19.3B	25.2B	31.6B	22.3B	22.9B	24.5B	20.1B
Receivables	11.7B	13.5B	14.1B	14.5B	13.6B	15.3B	14B	14.9B	14.8B	17.2B
Inventory	8.1B	8.8B	8.6B	9B	9.3B	10.4B	10.3B	11.2B	12.4B	14.2B
Total current assets	65B	43.1B	46B	45.3B	51.2B	61B	55.3B	53.5B	55.9B	55.6B
Property, plant & equipment	5.8B	5.8B	5.9B	5.8B	6.3B	6.1B	6.5B	7.5B	8.2B	9.7B
Goodwill & intangibles	99.4B	170.3B	156.1B	162.6B	179.6B	163.3B	149.1B	141.5B	163.6B	198.3B
Total assets	141.2B	157.3B	153B	157.7B	174.9B	182B	187.4B	167.6B	180.1B	199.2B
Accounts payable	6.9B	7.3B	7.5B	8.5B	9.5B	11.1B	9.9B	9.6B	10.3B	12B
Short-term debt	4.7B	3.9B	2.8B	1.2B	2.6B	3.8B	12.8B	3.5B	6B	8.5B
Total current liabilities	26.3B	30.5B	31.2B	36B	42.5B	45.2B	55.8B	46.3B	50.3B	54.1B
Long-term debt	22.4B	30.7B	27.7B	26.5B	32.6B	30B	26.9B	25.9B	30.7B	39.4B
Total liabilities	70.8B	97.1B	93.2B	98.3B	111.6B	108B	110.6B	98.8B	108.6B	117.7B
Shareholders' equity	70.4B	60.2B	59.8B	59.5B	63.3B	74B	76.8B	68.8B	71.5B	81.5B
Total debt	27.1B	34.6B	30.5B	27.7B	35.3B	33.8B	39.6B	29.3B	36.6B	47.9B
Net debt	8.2B	16.8B	12.4B	10.4B	21.3B	19.3B	26.8B	7.5B	12.5B	28.2B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	23.5B	22.9B	26.2B	25.5B	20.3B	24.5B	38.8B	18.9B	18.6B	20.1B	22.1B	20.8B
Receivables	14.8B	14.9B	14.9B	15.8B	16.2B	14.8B	16B	17.8B	17.6B	17.2B	17.7B	19B
Inventory	11.2B	11.2B	11.4B	12.2B	12.6B	12.4B	12.7B	13.4B	14.1B	14.2B	14.6B	15.1B
Total current assets	53.7B	53.5B	57B	57.8B	53.2B	55.9B	71.6B	54.5B	54.6B	55.6B	59.2B	59.8B
Property, plant & equipment	-26.8B	7.5B	-28B	-28.3B	-28.8B	8.2B	-29B	-30.5B	-31B	9.7B	-31.4B	-31.9B
Goodwill & intangibles	142.3B	141.5B	141.8B	167.9B	168.6B	163.6B	162.4B	195.9B	193.6B	198.3B	195.2B	193.4B
Total assets	166.1B	167.6B	172B	181.1B	178.3B	180.1B	193.7B	193.4B	192.8B	199.2B	200.9B	201.1B
Accounts payable	8.4B	9.6B	8.2B	8.8B	9B	10.3B	9.5B	9.5B	9.6B	12B	10.5B	9.2B
Short-term debt	3.9B	3.5B	8.6B	9.9B	4.5B	6B	13.9B	11.5B	6.4B	8.5B	17.5B	11.7B
Total current liabilities	44.4B	46.3B	48.7B	53.9B	51.8B	50.3B	56.9B	54.2B	50.9B	54.1B	57.7B	54.9B
Long-term debt	26.1B	25.9B	25.1B	31.6B	31.3B	30.7B	38.4B	39.2B	39.4B	39.4B	37.5B	37.3B
Total liabilities	94.8B	98.8B	101.9B	109.5B	108.1B	108.6B	115.6B	114.9B	113.5B	117.7B	119.7B	116.1B
Shareholders' equity	71.2B	68.8B	70B	71.5B	70.2B	71.5B	78.1B	78.5B	79.3B	81.5B	81.2B	85B
Total debt	29.9B	29.3B	33.6B	41.5B	35.8B	36.6B	52.3B	50.8B	45.8B	47.9B	55B	49B
Net debt	10.2B	7.5B	8.2B	16.6B	15.8B	12.5B	13.8B	32.2B	27.6B	28.2B	33.3B	28.6B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	16.5B	1.3B	15.3B	15.1B	14.7B	20.9B	17.9B	35.2B	14.1B	26.8B
Depreciation & amortization	3.8B	5.6B	6.9B	7B	7.2B	7.4B	7B	7.5B	7.3B	7.5B
Stock-based compensation	878M	962M	978M	977M	1B	1.1B	1.1B	1.2B	1.2B	1.4B
Change in working capital	-2.4B	8.5B	-3.9B	-195M	-2.5B	-6.7B	-5.1B	161M	216M	-15.1B
Operating cash flow	18.4B	18.8B	18.2B	20.4B	18.2B	20.6B	19.3B	40.3B	22.5B	24.5B
Capital expenditure	-3.2B	-3.3B	-3.7B	-3.5B	-3.3B	-3.7B	-4B	-4.5B	-4.4B	—
Investing cash flow	-4.8B	-14.9B	-3.2B	-6.2B	-20.8B	-8.7B	-12.4B	1.3B	-16.8B	-18.4B
Dividends paid	-8.6B	-8.9B	-9.5B	-9.9B	-10.5B	-11B	-11.7B	-11.8B	-11.8B	-12.4B
Share repurchases	-9B	-6.4B	-5.9B	-6.7B	-3.2B	-3.5B	-6B	-5.1B	-2.4B	-6B
Financing cash flow	-11.8B	-10.1B	-21.9B	-19.1B	-9.9B	-16.3B	-16.8B	-39.9B	-13.4B	-21.3B
Net change in cash	1.9B	-6.1B	-6.9B	-4.8B	-12.5B	-4.3B	-9.8B	1.7B	-7.8B	-15.1B
Free cash flow	15.5B	17.8B	18.5B	19.9B	20.2B	19.8B	17.2B	17.8B	18.1B	19.3B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	26B	4B	3.3B	4.7B	2.7B	3.4B	11B	5.5B	5.2B	5.1B	5.2B	5.5B
Depreciation & amortization	1.8B	1.8B	1.8B	1.8B	1.8B	1.9B	1.8B	1.9B	1.8B	2B	2B	2B
Stock-based compensation	296M	178M	302M	341M	295M	238M	288M	410M	347M	309M	300M	458M
Change in working capital	-2.3B	1.6B	2.1B	-3.4B	-435M	1.9B	-8.9B	-6.2B	-2.4B	2.3B	-1.3B	-1.9B
Operating cash flow	26.4B	5.2B	6B	2.7B	4.5B	8B	6.3B	2.6B	9.2B	7.3B	2.5B	8.6B
Capital expenditure	-967M	-1.6B	-807M	-976M	-1B	-1.6B	-795M	-1B	—	—	—	—
Investing cash flow	2.5B	-732M	-464M	-13.7B	-1.9B	-787M	-283M	-17.9B	631M	-2.6B	9M	474M
Dividends paid	-2.9B	-2.9B	-2.9B	-3B	-3B	-3B	-3B	-3.1B	-3.1B	-3.1B	-3.1B	-3.2B
Share repurchases	-920M	-216M	-1.5B	-136M	-539M	-282M	-2.1B	0	-1.9B	-1.9B	-4B	-221M
Financing cash flow	-20B	-6.2B	-539M	4.4B	-14.7B	-2.6B	7.9B	-8.7B	-15.7B	-4.8B	-3.9B	-15.6B
Net change in cash	8.9B	-1.7B	5B	-6.5B	-12.1B	4.7B	13.9B	-24B	-5.9B	-101M	-1.3B	-6.5B
Free cash flow	6.5B	5.8B	2.9B	4.7B	5.7B	4.8B	3.4B	2.5B	8B	5.5B	1.5B	7.3B

Date	Ratio
Jun 13, 2001	2:1
Jun 12, 1996	2:1
Jun 10, 1992	2:1
May 11, 1989	2:1
May 19, 1981	3:1
May 18, 1970	3:1

Johnson & Johnson Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history