Comprehensive Stock Comparison
Compare Johnson & Johnson (JNJ) vs Eli Lilly and Company (LLY) vs AstraZeneca PLC (AZN) vs Bristol-Myers Squibb Company (BMY) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | LLY | 32.0% revenue growth vs JNJ's 4.3% |
| Value | BMY | Lower P/E (10.0x vs 30.9x) |
| Quality / Margins | LLY | 31.0% net margin vs BMY's 12.6% |
| Stability / Safety | JNJ | Beta 0.06 vs LLY's 0.65, lower leverage |
| Dividends | BMY | 3.8% yield, 5-year raise streak, vs LLY's 0.5% |
| Momentum (1Y) | JNJ | +53.7% vs BMY's +8.8% |
| Efficiency (ROA) | LLY | 16.0% ROA vs BMY's 6.2%, ROIC 33.7% vs 12.4% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Valuation efficiency (growth/$)
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Johnson & Johnson is a global healthcare company focused on innovative medicines and medical technology. It generates revenue primarily from its Innovative Medicine segment — prescription drugs for complex diseases like cancer and autoimmune disorders — and its MedTech segment — medical devices including orthopedics, surgery tools, and contact lenses. The company's competitive advantage lies in its massive R&D scale, deep scientific expertise, and diversified portfolio of patented pharmaceuticals and medical devices.
Eli Lilly is a global pharmaceutical company that discovers, develops, and markets innovative medicines for serious diseases like diabetes, cancer, and autoimmune disorders. It generates revenue primarily from drug sales — with diabetes treatments like Trulicity and Mounjaro contributing over 50% of revenue — and from oncology and immunology products. The company's competitive advantage lies in its deep research and development capabilities, particularly in diabetes and obesity treatments where it has established a strong patent-protected portfolio.
AstraZeneca is a global biopharmaceutical company that discovers, develops, manufactures, and commercializes prescription medicines across multiple therapeutic areas. It generates revenue primarily from oncology drugs (~40% of total revenue), cardiovascular/renal/metabolism treatments (~30%), and respiratory/immunology products, with the remainder from rare diseases and vaccines. The company's competitive advantage lies in its robust R&D pipeline—particularly in oncology and biologics—and its global commercial infrastructure that spans both developed and emerging markets.
Bristol-Myers Squibb is a global biopharmaceutical company that discovers, develops, and markets innovative medicines for serious diseases. It generates revenue primarily from blockbuster drugs like Eliquis (~40% of sales), Opdivo (~25%), and Revlimid (~15%), with the remainder coming from its broader portfolio of oncology, cardiovascular, and immunology treatments. The company's competitive advantage lies in its deep expertise in oncology and immunology research, complemented by strategic acquisitions that have expanded its pipeline and commercial portfolio.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 4 stocks. BestLagging
Financial Scorecard
LLY leads in 3 of 6 categories (Financial Metrics, Profitability & Efficiency). BMY leads in 1 (Valuation Metrics). 1 tied.
Financial Metrics (TTM)
JNJ is the larger business by revenue, generating $92.1B annually — 1.9x BMY's $48.0B. LLY is the more profitable business, keeping 31.0% of every revenue dollar as net income compared to BMY's 12.6%. On growth, LLY holds the edge at +53.9% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | JNJJohnson & Johnson | LLYEli Lilly and Com… | AZNAstraZeneca PLC | BMYBristol-Myers Squ… |
|---|---|---|---|---|
| RevenueTrailing 12 months | $92.1B | $59.4B | $58.7B | $48.0B |
| EBITDAEarnings before interest/tax | $31.4B | $28.6B | $19.5B | $18.7B |
| Net IncomeAfter-tax profit | $25.1B | $18.4B | $10.2B | $6.0B |
| Free Cash FlowCash after capex | $19.1B | $9.0B | $10.5B | $15.3B |
| Gross MarginGross profit ÷ Revenue | +68.1% | +83.0% | +81.9% | +65.8% |
| Operating MarginEBIT ÷ Revenue | +26.1% | +45.0% | +23.4% | +28.7% |
| Net MarginNet income ÷ Revenue | +27.3% | +31.0% | +17.4% | +12.6% |
| FCF MarginFCF ÷ Revenue | +20.7% | +15.2% | +17.9% | +31.9% |
| Rev. Growth (YoY)Latest quarter vs prior year | +6.8% | +53.9% | +4.1% | +2.8% |
| EPS Growth (YoY)Latest quarter vs prior year | +91.0% | +4.8% | +54.2% | +80.0% |
Valuation Metrics
At 42.9x trailing earnings, JNJ trades at a 52% valuation discount to LLY's 89.9x P/E. Adjusting for growth (PEG ratio), AZN offers better value at 2.92x vs JNJ's 38.22x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | JNJJohnson & Johnson | LLYEli Lilly and Com… | AZNAstraZeneca PLC | BMYBristol-Myers Squ… |
|---|---|---|---|---|
| Market CapShares × price | $598.7B | $941.7B | $323.2B | $127.0B |
| Enterprise ValueMkt cap + debt − cash | $611.2B | $972.1B | $347.1B | $167.9B |
| Trailing P/EPrice ÷ TTM EPS | 42.91x | 89.85x | 63.75x | -14.14x |
| Forward P/EPrice ÷ next-FY EPS est. | 21.48x | 30.86x | 20.30x | 10.01x |
| PEG RatioP/E ÷ EPS growth rate | 38.22x | 14.62x | 2.92x | — |
| EV / EBITDAEnterprise value multiple | 20.73x | 50.45x | 17.82x | 8.72x |
| Price / SalesMarket cap ÷ Revenue | 6.74x | 20.91x | 5.50x | 2.63x |
| Price / BookPrice ÷ Book value/share | 8.44x | 66.65x | 13.37x | 7.71x |
| Price / FCFMarket cap ÷ FCF | 30.17x | 2273.08x | 27.47x | 9.11x |
Profitability & Efficiency
LLY delivers a 77.2% return on equity — every $100 of shareholder capital generates $77 in annual profit, vs $21 for AZN. JNJ carries lower financial leverage with a 0.51x debt-to-equity ratio, signaling a more conservative balance sheet compared to BMY's 3.12x. On the Piotroski fundamental quality scale (0–9), AZN scores 8/9 vs BMY's 5/9, reflecting strong financial health.
| Metric | JNJJohnson & Johnson | LLYEli Lilly and Com… | AZNAstraZeneca PLC | BMYBristol-Myers Squ… |
|---|---|---|---|---|
| ROE (TTM)Return on equity | +31.7% | +77.2% | +21.0% | +32.5% |
| ROA (TTM)Return on assets | +13.0% | +16.0% | +9.0% | +6.2% |
| ROICReturn on invested capital | +20.7% | +33.7% | +14.9% | +12.4% |
| ROCEReturn on capital employed | +17.6% | +40.2% | +17.2% | +13.6% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 6 | 8 | 5 |
| Debt / EquityFinancial leverage | 0.51x | 2.36x | 0.61x | 3.12x |
| Net DebtTotal debt minus cash | $12.5B | $30.4B | $24.0B | $40.9B |
| Cash & Equiv.Liquid assets | $24.1B | $3.3B | $5.7B | $10.3B |
| Total DebtShort + long-term debt | $36.6B | $33.6B | $29.7B | $51.2B |
| Interest CoverageEBIT ÷ Interest expense | 48.23x | 26.09x | 8.32x | 5.11x |
Total Returns (with DRIP)
A $10,000 investment in LLY five years ago would be worth $52,120 today (with dividends reinvested), compared to $11,973 for BMY. Over the past 12 months, JNJ leads with a +53.7% total return vs BMY's +8.8%. The 3-year compound annual growth rate (CAGR) favors LLY at 50.9% vs BMY's 0.3% — a key indicator of consistent wealth creation.
| Metric | JNJJohnson & Johnson | LLYEli Lilly and Com… | AZNAstraZeneca PLC | BMYBristol-Myers Squ… |
|---|---|---|---|---|
| YTD ReturnYear-to-date | +20.4% | -2.4% | +15.3% | +17.8% |
| 1-Year ReturnPast 12 months | +53.7% | +15.0% | +40.3% | +8.8% |
| 3-Year ReturnCumulative with dividends | +71.8% | +243.3% | +65.7% | +0.9% |
| 5-Year ReturnCumulative with dividends | +70.8% | +421.2% | +121.6% | +19.7% |
| 10-Year ReturnCumulative with dividends | +175.7% | +1411.6% | +296.2% | +32.4% |
| CAGR (3Y)Annualised 3-year return | +19.8% | +50.9% | +18.3% | +0.3% |
Risk & Volatility
JNJ is the less volatile stock with a 0.06 beta — it tends to amplify market swings less than LLY's 0.65 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. JNJ currently trades 99.8% from its 52-week high vs LLY's 92.8% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | JNJJohnson & Johnson | LLYEli Lilly and Com… | AZNAstraZeneca PLC | BMYBristol-Myers Squ… |
|---|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.06x | 0.65x | 0.27x | 0.35x |
| 52-Week HighHighest price in past year | $248.93 | $1133.95 | $212.71 | $63.33 |
| 52-Week LowLowest price in past year | $141.50 | $623.78 | $91.44 | $42.52 |
| % of 52W HighCurrent price vs 52-week peak | +99.8% | +92.8% | +98.0% | +98.5% |
| RSI (14)Momentum oscillator 0–100 | 66.2 | 46.9 | 59.1 | 63.9 |
| Avg Volume (50D)Average daily shares traded | 7.1M | 2.6M | 1.5M | 10.9M |
Analyst Outlook
Analyst consensus: JNJ as "Buy", LLY as "Buy", AZN as "Buy", BMY as "Hold". Consensus price targets imply 15.4% upside for LLY (target: $1214) vs -49.4% for AZN (target: $106). For income investors, BMY offers the higher dividend yield at 3.85% vs LLY's 0.49%.
| Metric | JNJJohnson & Johnson | LLYEli Lilly and Com… | AZNAstraZeneca PLC | BMYBristol-Myers Squ… |
|---|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy | Buy | Hold |
| Price TargetConsensus 12-month target | $229.33 | $1214.28 | $105.50 | $62.27 |
| # AnalystsCovering analysts | 39 | 44 | 41 | 41 |
| Dividend YieldAnnual dividend ÷ price | +2.0% | +0.5% | +0.8% | +3.8% |
| Dividend StreakConsecutive years of raises | 36 | 10 | 4 | 5 |
| Dividend / ShareAnnual DPS | $4.87 | $5.18 | $1.63 | $2.40 |
| Buyback YieldShare repurchases ÷ mkt cap | +0.4% | +0.3% | +0.2% | 0.0% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Feb 20 | Feb 26 | Change |
|---|---|---|---|
| Johnson & Johnson (JNJ) | 100 | 171.59 | +71.6% |
| Eli Lilly and Compa… (LLY) | 100 | 827.82 | +727.8% |
| AstraZeneca PLC (AZN) | 100 | 215.94 | +115.9% |
| Bristol-Myers Squib… (BMY) | 100 | 94.63 | -5.4% |
Eli Lilly and Compa… (LLY) returned +421% over 5 years vs Bristol-Myers Squib… (BMY)'s +20%. A $10,000 investment in LLY 5 years ago would be worth $52,120 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Johnson & Johnson (JNJ) | $71.9B | $88.8B | +23.6% |
| Eli Lilly and Compa… (LLY) | $21.2B | $45.0B | +112.2% |
| AstraZeneca PLC (AZN) | $23.0B | $58.7B | +155.4% |
| Bristol-Myers Squib… (BMY) | $19.4B | $48.3B | +148.6% |
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Johnson & Johnson (JNJ) | 23.0% | 15.8% | -31.2% |
| Eli Lilly and Compa… (LLY) | 12.9% | 23.5% | +82.3% |
| AstraZeneca PLC (AZN) | 15.2% | 17.5% | +14.8% |
| Bristol-Myers Squib… (BMY) | 22.9% | -18.5% | -180.7% |
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| Johnson & Johnson (JNJ) | 297.3 | 25 | -91.6% |
| Eli Lilly and Compa… (LLY) | 37 | 65.9 | +78.1% |
| AstraZeneca PLC (AZN) | 54.3 | 53.7 | -1.1% |
| Bristol-Myers Squib… (BMY) | 100.5 | 13.3 | -86.8% |
Johnson & Johnson has traded in a 11x–297x P/E range over 8 years; current trailing P/E is ~43x. Eli Lilly and Company has traded in a 15x–101x P/E range over 7 years; current trailing P/E is ~90x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Johnson & Johnson (JNJ) | 5.93 | 5.79 | -2.4% |
| Eli Lilly and Compa… (LLY) | 2.49 | 11.71 | +370.3% |
| AstraZeneca PLC (AZN) | 1.38 | 3.27 | +137.0% |
| Bristol-Myers Squib… (BMY) | 2.65 | -4.41 | -266.4% |
Chart 6Free Cash Flow — 5 Years
Johnson & Johnson generated $20B FCF in 2024 (+0% vs 2021). Eli Lilly and Company generated $414M FCF in 2024 (-92% vs 2021).
JNJ vs LLY vs AZN vs BMY: Key Questions Answered
9 questions · data-driven answers · updated daily
01Is JNJ or LLY or AZN or BMY a better buy right now?
Johnson & Johnson (JNJ) offers the better valuation at 42.9x trailing P/E (21.5x forward), making it the more compelling value choice. Analysts rate Johnson & Johnson (JNJ) a "Buy" — based on 39 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — JNJ or LLY or AZN or BMY?
On trailing P/E, Johnson & Johnson (JNJ) is the cheapest at 42.9x versus Eli Lilly and Company at 89.9x. On forward P/E, Bristol-Myers Squibb Company is actually cheaper at 10.0x — notably different from the trailing picture, reflecting expected earnings growth. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: AstraZeneca PLC wins at 0.93x versus Johnson & Johnson's 38.22x — a PEG below 1.0 traditionally signals the market is underpricing earnings growth.
03Which is the better long-term investment — JNJ or LLY or AZN or BMY?
Over the past 5 years, Eli Lilly and Company (LLY) delivered a total return of +421.2%, compared to +19.7% for Bristol-Myers Squibb Company (BMY). A $10,000 investment in LLY five years ago would be worth approximately $52K today (assuming dividends reinvested). Over 10 years, the gap is even starker: LLY returned +1412% versus BMY's +32.4%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — JNJ or LLY or AZN or BMY?
By beta (market sensitivity over 5 years), Johnson & Johnson (JNJ) is the lower-risk stock at 0.06β versus Eli Lilly and Company's 0.65β — meaning LLY is approximately 1071% more volatile than JNJ relative to the S&P 500. On balance sheet safety, Johnson & Johnson (JNJ) carries a lower debt/equity ratio of 51% versus 3% for Bristol-Myers Squibb Company — giving it more financial flexibility in a downturn.
05Which has better profit margins — JNJ or LLY or AZN or BMY?
Eli Lilly and Company (LLY) is the more profitable company, earning 23.5% net margin versus -18.5% for Bristol-Myers Squibb Company — meaning it keeps 23.5% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: LLY leads at 38.9% versus 20.0% for BMY. At the gross margin level — before operating expenses — AZN leads at 81.9%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is JNJ or LLY or AZN or BMY more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential. By this metric, AstraZeneca PLC (AZN) is the more undervalued stock at a PEG of 0.93x versus Johnson & Johnson's 38.22x. A PEG below 1.0 is traditionally considered the threshold for growth-adjusted undervaluation. On forward earnings alone, Bristol-Myers Squibb Company (BMY) trades at 10.0x forward P/E versus 30.9x for Eli Lilly and Company — 20.8x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for LLY: 15.4% to $1214.28.
07Which pays a better dividend — JNJ or LLY or AZN or BMY?
All stocks in this comparison pay dividends. Bristol-Myers Squibb Company (BMY) offers the highest yield at 3.8%, versus 0.5% for Eli Lilly and Company (LLY).
08Is JNJ or LLY or AZN or BMY better for a retirement portfolio?
For long-horizon retirement investors, Johnson & Johnson (JNJ) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.06), 2.0% yield, +175.7% 10Y return). Both have compounded well over 10 years (JNJ: +175.7%, BMY: +32.4%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between JNJ and LLY and AZN and BMY?
Both stocks operate in the Healthcare sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. In terms of investment character: JNJ is a large-cap quality compounder stock; LLY is a large-cap quality compounder stock; AZN is a large-cap quality compounder stock; BMY is a mid-cap income-oriented stock. JNJ, AZN, BMY pay a dividend while LLY does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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