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Johnson & Johnson (JNJ) 10-Year Financial Performance & Capital Metrics

JNJ • • Industrial / General
HealthcareLarge PharmaBroad-Based Pharmaceutical GiantsGlobal Pharma Diversified Leaders
AboutJohnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide, but strategically separated its Consumer Health business into Kenvue Inc. in 2023 to focus on its higher-growth, innovation-driven segments; the former Consumer Health brands (including TYLENOL, LISTERINE, and BAND-AID) are now owned by Kenvue. The company's core focus is now split between its Innovative Medicine (formerly Pharmaceutical) segment, which offers prescription products for complex diseases such as rheumatoid arthritis, various cancers, HIV/AIDS, and neurodegenerative disorders; and its MedTech (Medical Devices) segment, which provides advanced technology solutions including electrophysiology products, neurovascular care products, orthopaedics (hips, knees, spine), advanced surgery solutions, and disposable contact lenses under the ACUVUE brand. Company's two remaining segments primarily serve hospitals, healthcare professionals, wholesalers, and retailers, continuing its mission of advancing human health since its founding in 1886 and its current basing in New Brunswick, New Jersey.Show more
  • Revenue $88.82B +4.3%
  • EBITDA $29.49B -4.6%
  • Net Income $14.07B -60.0%
  • EPS (Diluted) 5.79 -57.8%
  • Gross Margin 69.07% +0.4%
  • EBITDA Margin 33.2% -8.5%
  • Operating Margin 24.94% -9.3%
  • Net Margin 15.84% -61.6%
  • ROE 20.06% -58.5%
  • ROIC 20.58% +5.4%
  • Debt/Equity 0.53 +24.1%
  • Interest Coverage 29.34 -3.3%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Dividend Aristocrat: 36 years of consecutive increases
  • ✓Excellent 3Y average ROE of 30.7%
  • ✓FCF machine: 22.3% free cash flow margin
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Healthy dividend yield of 2.3%
  • ✓Share count reduced 5.1% through buybacks

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y1.8%
5Y1.6%
3Y4.1%
TTM5.08%

Profit (Net Income) CAGR

10Y-1.48%
5Y-1.43%
3Y-12.33%
TTM71.06%

EPS CAGR

10Y0.16%
5Y0.56%
3Y-9.49%
TTM71.24%

ROCE

10Y Avg16.91%
5Y Avg16.58%
3Y Avg17.27%
Latest17.64%

Peer Comparison

Global Pharma Diversified Leaders
Select Columns
Size & Scale
Valuation
Per Share
Growth
Profitability
Quality & Returns
Safety & Leverage
TTM Growth
Famous Investor Metrics
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Momentum & Returns
Total Return (DRIP)
Technical
Volume & Trading
Shares & Dilution
Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
AZNAstraZeneca PLC293.03B94.5183.6418.04%16.17%20.45%2.48%0.74
GSKGSK plc100.65B49.9040.243.46%17.08%25.91%3.55%1.30
JNJJohnson & Johnson514.75B213.6536.904.3%27.26%31.69%3.85%0.53
NVSNovartis AG271.72B141.6124.1210.85%25.53%32.16%5.08%0.71
SNYSanofi114.36B47.2021.556.41%21.16%12.99%5.15%0.23
PFEPfizer Inc.143B25.1517.846.84%15.64%10.55%6.88%0.76
MRKMerck & Co., Inc.268.7B108.2616.066.74%29.63%36.67%6.73%0.83

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+70.07B71.89B76.45B81.58B82.06B82.58B78.74B79.99B85.16B88.82B
Revenue Growth %-0.06%0.03%0.06%0.07%0.01%0.01%-0.05%0.02%0.06%0.04%
Cost of Goods Sold+21.54B21.79B25.44B27.09B27.56B28.43B23.4B24.6B26.55B27.47B
COGS % of Revenue0.31%0.3%0.33%0.33%0.34%0.34%0.3%0.31%0.31%0.31%
Gross Profit+48.54B50.1B51.01B54.49B54.5B54.16B55.34B55.39B58.61B61.35B
Gross Margin %0.69%0.7%0.67%0.67%0.66%0.66%0.7%0.69%0.69%0.69%
Gross Profit Growth %-0.06%0.03%0.02%0.07%0%-0.01%0.02%0%0.06%0.05%
Operating Expenses+30.25B29.21B32.11B33.31B33.53B34.42B34.4B34.38B35.2B39.2B
OpEx % of Revenue0.43%0.41%0.42%0.41%0.41%0.42%0.44%0.43%0.41%0.44%
Selling, General & Admin21.2B20.07B21.52B22.54B22.18B22.08B20.12B20.25B20.11B21.97B
SG&A % of Revenue0.3%0.28%0.28%0.28%0.27%0.27%0.26%0.25%0.24%0.25%
Research & Development9.05B9.14B10.59B10.78B11.36B12.34B14.28B14.13B15.09B17.23B
R&D % of Revenue0.13%0.13%0.14%0.13%0.14%0.15%0.18%0.18%0.18%0.19%
Other Operating Expenses0000000000
Operating Income+18.29B20.89B18.9B21.18B20.97B19.73B20.94B21.01B23.41B22.15B
Operating Margin %0.26%0.29%0.25%0.26%0.26%0.24%0.27%0.26%0.27%0.25%
Operating Income Growth %-0.13%0.14%-0.1%0.12%-0.01%-0.06%0.06%0%0.11%-0.05%
EBITDA+22.04B24.64B24.54B28.1B27.98B26.96B28.33B27.98B30.89B29.49B
EBITDA Margin %0.31%0.34%0.32%0.34%0.34%0.33%0.36%0.35%0.36%0.33%
EBITDA Growth %-0.12%0.12%-0%0.15%-0%-0.04%0.05%-0.01%0.1%-0.05%
D&A (Non-Cash Add-back)3.75B3.75B5.64B6.93B7.01B7.23B7.39B6.97B7.49B7.34B
EBIT19.75B20.53B18.61B19B17.65B16.7B19.36B19.64B15.83B17.44B
Net Interest Income+-424M-358M-549M-394M39M-90M-130M214M489M577M
Interest Income128M368M385M611M357M111M53M490M1.26B1.33B
Interest Expense552M726M934M1B318M201M183M276M772M755M
Other Income/Expense907M-1.09B-1.22B-3.18B-3.64B-3.24B-1.76B-1.65B-8.35B-5.46B
Pretax Income+19.2B19.8B17.67B18B17.33B16.5B19.18B19.36B15.06B16.69B
Pretax Margin %0.27%0.28%0.23%0.22%0.21%0.2%0.24%0.24%0.18%0.19%
Income Tax+3.79B3.26B16.37B2.7B2.21B1.78B1.38B2.99B1.74B2.62B
Effective Tax Rate %0.8%0.84%0.07%0.85%0.87%0.89%1.09%0.93%2.33%0.84%
Net Income+15.41B16.54B1.3B15.3B15.12B14.71B20.88B17.94B35.15B14.07B
Net Margin %0.22%0.23%0.02%0.19%0.18%0.18%0.27%0.22%0.41%0.16%
Net Income Growth %-0.06%0.07%-0.92%10.77%-0.01%-0.03%0.42%-0.14%0.96%-0.6%
Net Income (Continuing)15.41B16.54B1.3B15.3B15.12B14.71B17.8B16.37B13.33B14.07B
Discontinued Operations0000003.08B1.57B21.83B0
Minority Interest0000000000
EPS (Diluted)+5.485.930.475.615.635.517.816.7313.725.79
EPS Growth %-0.04%0.08%-0.92%10.94%0%-0.02%0.42%-0.14%1.04%-0.58%
EPS (Basic)5.576.080.485.755.745.597.936.8313.885.84
Diluted Shares Outstanding2.81B2.79B2.75B2.73B2.68B2.67B2.67B2.66B2.56B2.43B
Basic Shares Outstanding2.76B2.71B2.68B2.66B2.63B2.63B2.63B2.61B2.53B2.41B
Dividend Payout Ratio0.53%0.52%6.88%0.62%0.66%0.71%0.53%0.65%0.33%0.84%

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+60.21B65.03B43.09B46.03B45.27B51.24B60.98B55.29B53.49B55.89B
Cash & Short-Term Investments38.38B41.91B18.3B19.69B19.29B25.18B31.61B22.28B22.93B24.52B
Cash Only13.73B18.97B17.82B18.11B17.3B13.98B14.49B12.89B21.86B24.11B
Short-Term Investments24.64B22.93B472M1.58B1.98B11.2B17.12B9.39B1.07B417M
Accounts Receivable10.73B11.7B13.49B14.1B14.48B13.58B18.98B16.91B14.87B18.93B
Days Sales Outstanding55.9159.464.4163.0864.41608877.1863.7577.78
Inventory8.05B8.14B8.77B8.6B9.02B9.34B10.39B10.27B11.18B12.44B
Days Inventory Outstanding136.49136.42125.76115.86119.48119.98162.01152.38153.7165.34
Other Current Assets000950M94M0-3.7B5.83B00
Total Non-Current Assets+73.2B76.18B114.22B106.92B112.45B123.66B121.04B132.08B114.06B124.21B
Property, Plant & Equipment15.9B15.91B17B17.04B17.66B18.77B18.96B17.98B19.9B20.52B
Fixed Asset Turnover4.41x4.52x4.50x4.79x4.65x4.40x4.15x4.45x4.28x4.33x
Goodwill21.63B22.8B31.91B30.45B33.64B36.39B35.25B36.05B36.56B44.2B
Intangible Assets25.76B26.88B53.23B47.61B47.64B53.4B46.39B38.49B34.17B37.62B
Long-Term Investments0000000000
Other Non-Current Assets4.41B4.43B4.97B4.18B5.7B6.56B10.22B30.62B14.15B11.41B
Total Assets+133.41B141.21B157.3B152.95B157.73B174.89B182.02B187.38B167.56B180.1B
Asset Turnover0.53x0.51x0.49x0.53x0.52x0.47x0.43x0.43x0.51x0.49x
Asset Growth %0.02%0.06%0.11%-0.03%0.03%0.11%0.04%0.03%-0.11%0.07%
Total Current Liabilities+27.75B26.29B30.54B31.23B35.96B42.49B45.23B55.8B46.28B50.32B
Accounts Payable6.67B6.92B7.31B7.54B8.54B9.51B11.05B9.89B9.63B10.31B
Days Payables Outstanding113.01115.89104.88101.55113.17122.04172.42146.75132.4137
Short-Term Debt7B4.68B3.91B2.8B1.2B2.63B3.77B12.76B3.45B5.98B
Deferred Revenue (Current)0000000000
Other Current Liabilities750M971M1.85B818M2.27B3.48B3.59B6.64B3.99B4.13B
Current Ratio2.17x2.47x1.41x1.47x1.26x1.21x1.35x0.99x1.16x1.11x
Quick Ratio1.88x2.16x1.12x1.20x1.01x0.99x1.12x0.81x0.91x0.86x
Cash Conversion Cycle79.3879.9485.2877.3870.7257.9477.5882.8185.04106.12
Total Non-Current Liabilities+34.51B44.5B66.61B61.97B62.29B69.12B62.77B54.77B52.5B58.29B
Long-Term Debt12.86B22.44B30.68B27.68B26.49B32.63B29.98B26.89B25.88B30.65B
Capital Lease Obligations0000000001.2B
Deferred Tax Liabilities2.56B2.91B8.37B7.51B5.96B7.21B7.49B3.99B3.19B2.45B
Other Non-Current Liabilities19.09B19.15B27.56B26.78B29.84B29.27B25.3B23.89B23.43B23.99B
Total Liabilities62.26B70.79B97.14B93.2B98.26B111.62B108B110.57B98.78B108.61B
Total Debt+19.86B27.13B34.58B30.48B27.7B35.27B33.75B39.64B29.33B37.83B
Net Debt6.13B8.15B16.76B12.37B10.39B21.28B19.26B26.75B7.47B13.73B
Debt / Equity0.28x0.39x0.57x0.51x0.47x0.56x0.46x0.52x0.43x0.53x
Debt / EBITDA0.90x1.10x1.41x1.08x0.99x1.31x1.19x1.42x0.95x1.28x
Net Debt / EBITDA0.28x0.33x0.68x0.44x0.37x0.79x0.68x0.96x0.24x0.47x
Interest Coverage33.13x28.78x20.23x21.07x65.94x98.17x114.44x76.13x30.32x29.34x
Total Equity+71.15B70.42B60.16B59.75B59.47B63.28B74.02B76.8B68.77B71.49B
Equity Growth %--0.01%-0.15%-0.01%-0%0.06%0.17%0.04%-0.1%0.04%
Book Value per Share25.2925.2521.9121.9022.1623.6927.6828.8326.8629.43
Total Shareholders' Equity71.15B70.42B60.16B59.75B59.47B63.28B74.02B76.8B68.77B71.49B
Common Stock3.12B3.12B3.12B3.12B3.12B3.12B3.12B3.12B3.12B3.12B
Retained Earnings103.88B110.55B101.79B106.22B110.66B113.89B123.06B128.34B153.84B155.79B
Treasury Stock-22.68B-28.35B-31.55B-34.36B-38.42B-38.49B-39.1B-41.69B-75.66B-75.68B
Accumulated OCI-13.16B-14.9B-13.2B-15.22B-15.89B-15.24B-13.06B-12.97B-12.53B-11.74B
Minority Interest0000000000

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+19.28B18.77B21.06B22.2B23.42B23.54B23.41B21.19B22.79B24.27B
Operating CF Margin %0.28%0.26%0.28%0.27%0.29%0.28%0.3%0.26%0.27%0.27%
Operating CF Growth %0.04%-0.03%0.12%0.05%0.05%0.01%-0.01%-0.09%0.08%0.06%
Net Income15.41B16.54B1.3B15.3B15.12B14.71B20.88B17.94B13.33B14.07B
Depreciation & Amortization3.75B3.75B5.64B6.93B7.01B7.23B7.39B6.97B7.49B7.34B
Stock-Based Compensation874M878M962M978M977M1B1.14B1.14B1.16B1.18B
Deferred Taxes-270M-341M2.41B-1.02B-2.48B-1.14B-2.08B-1.66B-4.19B-2.18B
Other Non-Cash Items-1.82B-291M-495M10M-1.08B-963M324M819M2.5B2.03B
Working Capital Changes1.34B-1.77B11.24B3M3.87B2.69B-4.24B-4.01B2.51B1.84B
Change in Receivables-433M-1.06B-633M-1.19B-289M774M-2.4B-1.29B-624M-406M
Change in Inventory-449M-249M581M-644M-277M-265M-1.25B-2.53B-1.32B-1.13B
Change in Payables-3M-39.2B2.73B-12.97B4.06B5.14B2.44B1.1B2.35B1.62B
Cash from Investing+-7.74B-4.76B-14.87B-3.17B-6.19B-20.82B-8.68B-12.37B878M-18.6B
Capital Expenditures-3.46B-3.23B-3.28B-3.67B-3.5B-3.35B-3.65B-4.01B-4.54B-4.42B
CapEx % of Revenue0.05%0.04%0.04%0.04%0.04%0.04%0.05%0.05%0.05%0.05%
Acquisitions----------
Investments----------
Other Investing3.36B1.14B1.6B2.74B3.31B-1.2B417M65M-3.06B235M
Cash from Financing+-10.85B-8.55B-7.67B-18.51B-18.02B-6.12B-14.05B-8.87B-15.82B-3.13B
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid-8.17B-8.62B-8.94B-9.49B-9.92B-10.48B-11.03B-11.68B-11.77B-11.82B
Share Repurchases----------
Other Financing948M1.17B874M801M1.53B487M1.43B1.39B-508M1.07B
Net Change in Cash----------
Free Cash Flow+15.82B15.54B17.78B18.53B19.92B20.19B19.76B17.18B18.25B19.84B
FCF Margin %0.23%0.22%0.23%0.23%0.24%0.24%0.25%0.21%0.21%0.22%
FCF Growth %0.07%-0.02%0.14%0.04%0.07%0.01%-0.02%-0.13%0.06%0.09%
FCF per Share5.625.576.486.797.427.567.396.457.138.17
FCF Conversion (FCF/Net Income)1.25x1.13x16.20x1.45x1.55x1.60x1.12x1.18x0.65x1.73x
Interest Paid515M730M960M1.05B995M841M941M933M1.77B1.91B
Taxes Paid-2.87B2.84B3.31B4.57B4.19B4.62B4.77B5.22B8.57B6.71B

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)21.87%23.37%1.99%25.51%25.36%23.97%30.41%23.79%48.29%20.06%
Return on Invested Capital (ROIC)18.14%20.11%18.23%21.31%22.15%19.17%17.66%16.01%19.53%20.58%
Gross Margin69.27%69.69%66.72%66.79%66.42%65.58%70.28%69.25%68.82%69.07%
Net Margin21.99%23.01%1.7%18.75%18.42%17.82%26.52%22.43%41.28%15.84%
Debt / Equity0.28x0.39x0.57x0.51x0.47x0.56x0.46x0.52x0.43x0.53x
Interest Coverage33.13x28.78x20.23x21.07x65.94x98.17x114.44x76.13x30.32x29.34x
FCF Conversion1.25x1.13x16.20x1.45x1.55x1.60x1.12x1.18x0.65x1.73x
Revenue Growth-5.73%2.59%6.34%6.71%0.59%0.64%-4.65%1.59%6.46%4.3%

Revenue by Segment

2015201620172018201920202021202220232024
Innovative Medicine-33.46B36.26B40.73B42.2B--52.56B54.76B56.96B
Innovative Medicine Growth--8.34%12.35%3.59%---4.18%4.03%
MedTech-25.12B26.59B26.99B25.96B--27.43B30.4B31.86B
MedTech Growth--5.86%1.51%-3.82%---10.84%4.79%
Consumer13.51B13.31B13.6B13.85B13.9B14.45B14.63B14.95B--
Consumer Growth--1.48%2.22%1.85%0.32%3.97%1.28%2.17%--
Pharmaceutical31.43B----45.17B52.08B---
Pharmaceutical Growth------15.29%---
Medical Devices25.14B----22.96B27.06B---
Medical Devices Growth------17.86%---

Revenue by Geography

2015201620172018201920202021202220232024
UNITED STATES35.69B37.81B39.86B41.88B42.1B43.13B47.16B48.58B46.44B50.3B
UNITED STATES Growth-5.95%5.43%5.07%0.51%2.46%9.33%3.02%-4.40%8.31%
Europe15.99B15.77B17.13B18.75B18.47B18.98B23.59B23.45B20.41B20.21B
Europe Growth--1.41%8.60%9.50%-1.53%2.78%24.31%-0.61%-12.96%-0.97%
Asia-Pacific, Africa12.35B12.57B13.42B14.83B15.55B15.14B17.27B16.79B13.76B13.59B
Asia-Pacific, Africa Growth-1.85%6.72%10.51%4.88%-2.69%14.13%-2.81%-18.07%-1.18%
Western Hemisphere, excluding U.S.6.04B5.73B6.04B6.11B5.94B5.33B5.75B6.13B4.55B4.71B
Western Hemisphere, excluding U.S. Growth--5.14%5.35%1.19%-2.81%-10.20%7.78%6.52%-25.73%3.63%

Frequently Asked Questions

Valuation & Price

Johnson & Johnson (JNJ) has a price-to-earnings (P/E) ratio of 36.9x. This suggests investors expect higher future growth.

Growth & Financials

Johnson & Johnson (JNJ) reported $92.15B in revenue for fiscal year 2024. This represents a 42% increase from $65.03B in 2011.

Johnson & Johnson (JNJ) grew revenue by 4.3% over the past year. Growth has been modest.

Yes, Johnson & Johnson (JNJ) is profitable, generating $25.12B in net income for fiscal year 2024 (15.8% net margin).

Dividend & Returns

Yes, Johnson & Johnson (JNJ) pays a dividend with a yield of 2.28%. This makes it attractive for income-focused investors.

Johnson & Johnson (JNJ) has a return on equity (ROE) of 20.1%. This is excellent, indicating efficient use of shareholder capital.

Johnson & Johnson (JNJ) generated $19.06B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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