What is Johnson & Johnson's earnings per share (EPS)?

Johnson & Johnson (JNJ) reported diluted earnings per share of $11.03 for fiscal year 2025. This represents a 90.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Johnson & Johnson Financials

JNJ

Source SEC Filings (10-K/10-Q) Updated Dec 28, 2025 Currency USD FYE December

This page shows Johnson & Johnson (JNJ) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 62/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth

Johnson & Johnson's revenue grew 6.0% year-over-year to $94.2B, a solid pace of expansion. This earns a growth score of 43/100.

Leverage

Johnson & Johnson carries a low D/E ratio of 0.48, meaning only $0.48 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 92/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Johnson & Johnson's current ratio of 1.03 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 15/100, which could limit financial flexibility.

Cash Flow

Johnson & Johnson converts 20.9% of revenue into free cash flow ($19.7B). This strong cash generation earns a score of 77/100.

Returns

Johnson & Johnson earns a strong 32.9% return on equity (ROE), meaning it generates $33 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 84/100. This is up from 19.7% the prior year.

Piotroski F-Score Weak

3/9

Johnson & Johnson passes 3 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Mixed

0.92x

For every $1 of reported earnings, Johnson & Johnson generates $0.92 in operating cash flow ($24.5B OCF vs $26.8B net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Earnings & Revenue

Revenue

$94.2B

YoY+6.0%

5Y CAGR+2.8%

10Y CAGR+2.8%

Johnson & Johnson generated $94.2B in revenue in fiscal year 2025. This represents an increase of 6.0% from the prior year.

EBITDA

N/A

Net Income

$26.8B

YoY+90.6%

5Y CAGR+12.1%

10Y CAGR+6.8%

Johnson & Johnson reported $26.8B in net income in fiscal year 2025. This represents an increase of 90.6% from the prior year.

EPS (Diluted)

$11.03

YoY+90.5%

5Y CAGR+14.4%

10Y CAGR+8.7%

Johnson & Johnson earned $11.03 per diluted share (EPS) in fiscal year 2025. This represents an increase of 90.5% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$19.7B

YoY-0.7%

5Y CAGR-0.2%

10Y CAGR+3.6%

Johnson & Johnson generated $19.7B in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 0.7% from the prior year.

Cash & Debt

$19.7B

YoY-18.2%

5Y CAGR+2.6%

10Y CAGR-0.6%

Johnson & Johnson held $19.7B in cash against $39.4B in long-term debt as of fiscal year 2025.

Dividends Per Share

$5.14

YoY+4.7%

5Y CAGR+6.5%

10Y CAGR+7.1%

Johnson & Johnson paid $5.14 per share in dividends in fiscal year 2025. This represents an increase of 4.7% from the prior year.

Shares Outstanding

2.41B

YoY+0.1%

5Y CAGR-1.8%

Johnson & Johnson had 2.41B shares outstanding in fiscal year 2025. This represents an increase of 0.1% from the prior year.

Margins & Returns

Gross Margin

67.9%

YoY-1.2pp

5Y CAGR+1.5pp

10Y CAGR-0.8pp

Johnson & Johnson's gross margin was 67.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 1.2 percentage points from the prior year.

Operating Margin

N/A

Net Margin

28.5%

YoY+12.6pp

5Y CAGR+10.0pp

10Y CAGR+9.1pp

Johnson & Johnson's net profit margin was 28.5% in fiscal year 2025, showing the share of revenue converted to profit. This is up 12.6 percentage points from the prior year.

Return on Equity

32.9%

YoY+13.2pp

5Y CAGR+7.5pp

10Y CAGR+14.2pp

Johnson & Johnson's ROE was 32.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 13.2 percentage points from the prior year.

Capital Allocation

R&D Spending

$109.0M

YoY-94.1%

5Y CAGR-60.5%

10Y CAGR-35.1%

Johnson & Johnson invested $109.0M in research and development in fiscal year 2025. This represents a decrease of 94.1% from the prior year.

Share Buybacks

$6.0B

YoY+144.8%

5Y CAGR-2.5%

10Y CAGR+5.3%

Johnson & Johnson spent $6.0B on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 144.8% from the prior year.

Capital Expenditures

$4.8B

YoY+9.2%

5Y CAGR+6.7%

10Y CAGR+3.0%

Johnson & Johnson invested $4.8B in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 9.2% from the prior year.

JNJ Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY19
Revenue	$94.2B+6.0%	$88.8B+4.3%	$85.2B+8.2%	$78.7B-4.7%	$82.6B+0.6%	$82.1B
Cost of Revenue	$30.3B+10.1%	$27.5B+3.5%	$26.6B+13.5%	$23.4B-17.7%	$28.4B+3.2%	$27.6B
Gross Profit	$63.9B+4.2%	$61.4B+4.7%	$58.6B+5.9%	$55.3B+2.2%	$54.2B-0.6%	$54.5B
R&D Expenses	$109.0M-94.1%	$1.8B+281.2%	$483.0M	$0-100.0%	$12.2B+7.1%	$11.4B
SG&A Expenses	$23.7B+3.5%	$22.9B+6.3%	$21.5B+6.9%	$20.1B-8.9%	$22.1B-0.4%	$22.2B
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$971.0M+28.6%	$755.0M-2.2%	$772.0M+321.9%	$183.0M-9.0%	$201.0M-36.8%	$318.0M
Income Tax	$5.8B+120.4%	$2.6B+51.0%	$1.7B+26.1%	$1.4B-22.8%	$1.8B-19.3%	$2.2B
Net Income	$26.8B+90.6%	$14.1B-60.0%	$35.2B+68.4%	$20.9B+41.9%	$14.7B-2.7%	$15.1B
EPS (Diluted)	$11.03+90.5%	$5.79-57.8%	$13.72+75.7%	$7.81+41.7%	$5.51-2.1%	$5.63

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$24.6B+2.4%	$24.0B+1.1%	$23.7B+8.5%	$21.9B-2.8%	$22.5B+0.2%	$22.5B+0.1%	$22.4B+5.0%	$21.4B
Cost of Revenue	$8.0B+9.1%	$7.3B-4.3%	$7.6B+3.7%	$7.4B+3.2%	$7.1B+2.4%	$7.0B+1.4%	$6.9B+5.5%	$6.5B
Gross Profit	$16.6B-0.6%	$16.7B+3.6%	$16.1B+10.9%	$14.5B-5.6%	$15.4B-0.7%	$15.5B-0.4%	$15.6B+4.7%	$14.9B
R&D Expenses	-$10.3B-380.6%	$3.7B+4.4%	$3.5B+9.0%	$3.2B+132.0%	-$10.1B-303.8%	$5.0B+44.0%	$3.4B-2.9%	$3.5B
SG&A Expenses	$6.8B+14.0%	$5.9B+0.6%	$5.9B+15.2%	$5.1B-20.8%	$6.5B+17.8%	$5.5B-3.6%	$5.7B+8.1%	$5.3B
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$214.0M-12.7%	$245.0M-20.5%	$308.0M+51.0%	$204.0M+48.9%	$137.0M-29.0%	$193.0M-28.5%	$270.0M+74.2%	$155.0M
Income Tax	-$150.0M-106.4%	$2.3B+145.4%	$954.0M-63.8%	$2.6B+477.2%	$456.0M-29.2%	$644.0M-39.4%	$1.1B+131.4%	$459.0M
Net Income	$5.1B-0.7%	$5.2B-7.0%	$5.5B-49.7%	$11.0B+220.6%	$3.4B+27.4%	$2.7B-42.5%	$4.7B+44.0%	$3.3B
EPS (Diluted)	N/A	$2.12-7.4%	$2.29-49.6%	$4.54	N/A	$1.11-42.5%	$1.93+44.0%	$1.34

JNJ Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY19
Total Assets	$199.2B+10.6%	$180.1B+7.5%	$167.6B-6.1%	$178.4B+3.4%	$172.6B+9.4%	$157.7B
Current Assets	$55.6B-0.5%	$55.9B+4.5%	$53.5B-11.5%	$60.4B+15.0%	$52.5B+16.0%	$45.3B
Cash & Equivalents	$19.7B-18.2%	$24.1B+10.3%	$21.9B+108.9%	$10.5B-17.4%	$12.7B-26.8%	$17.3B
Inventory	$14.2B+14.0%	$12.4B+11.3%	$11.2B+1.7%	$11.0B+10.4%	$10.0B+10.3%	$9.0B
Accounts Receivable	$17.2B+15.7%	$14.8B-0.2%	$14.9B-4.6%	$15.6B+4.4%	$14.9B+3.2%	$14.5B
Goodwill	$48.8B+10.3%	$44.2B+20.9%	$36.6B+4.6%	$34.9B-2.1%	$35.7B+6.1%	$33.6B
Total Liabilities	$117.7B+8.3%	$108.6B+10.0%	$98.8B-4.7%	$103.6B-2.9%	$106.7B+8.6%	$98.3B
Current Liabilities	$54.1B+7.6%	$50.3B+8.7%	$46.3B+6.7%	$43.4B+6.0%	$40.9B+13.8%	$36.0B
Long-Term Debt	$39.4B+28.7%	$30.7B+18.4%	$25.9B-10.3%	$28.9B-4.7%	$30.3B+14.2%	$26.5B
Total Equity	$81.5B+14.1%	$71.5B+3.9%	$68.8B-7.9%	$74.7B+13.5%	$65.8B+10.7%	$59.5B
Retained Earnings	$169.0B+8.5%	$155.8B+1.3%	$153.8B+23.7%	$124.4B+6.8%	$116.5B+5.3%	$110.7B

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$199.2B+3.3%	$192.8B-0.3%	$193.4B-0.1%	$193.7B+7.5%	$180.1B+1.0%	$178.3B-1.5%	$181.1B+5.3%	$172.0B
Current Assets	$55.6B+1.9%	$54.6B+0.2%	$54.5B-23.8%	$71.6B+28.0%	$55.9B+5.0%	$53.2B-7.9%	$57.8B+1.4%	$57.0B
Cash & Equivalents	$19.7B+8.1%	$18.2B-1.9%	$18.6B-51.7%	$38.5B+59.6%	$24.1B+20.6%	$20.0B-19.7%	$24.9B-2.3%	$25.5B
Inventory	$14.2B+0.3%	$14.1B+5.5%	$13.4B+5.9%	$12.7B+1.7%	$12.4B-1.3%	$12.6B+3.6%	$12.2B+6.9%	$11.4B
Accounts Receivable	$17.2B-2.5%	$17.6B-1.3%	$17.8B+11.4%	$16.0B+7.9%	$14.8B-8.2%	$16.2B+2.4%	$15.8B+5.7%	$14.9B
Goodwill	$48.8B+1.5%	$48.0B-0.1%	$48.1B+8.2%	$44.5B+0.6%	$44.2B-1.3%	$44.8B+1.2%	$44.3B+20.8%	$36.6B
Total Liabilities	$117.7B+3.6%	$113.5B-1.2%	$114.9B-0.6%	$115.6B+6.4%	$108.6B+0.4%	$108.1B-1.3%	$109.5B+7.5%	$101.9B
Current Liabilities	$54.1B+6.4%	$50.9B-6.1%	$54.2B-4.8%	$56.9B+13.1%	$50.3B-2.8%	$51.8B-4.0%	$53.9B+10.7%	$48.7B
Long-Term Debt	$39.4B+0.1%	$39.4B+0.4%	$39.2B+2.3%	$38.4B+25.1%	$30.7B-2.0%	$31.3B-1.1%	$31.6B+26.1%	$25.1B
Total Equity	$81.5B+2.9%	$79.3B+1.0%	$78.5B+0.5%	$78.1B+9.3%	$71.5B+1.9%	$70.2B-1.9%	$71.5B+2.2%	$70.0B
Retained Earnings	$169.0B+1.0%	$167.3B+1.2%	$165.4B+1.7%	$162.6B+4.4%	$155.8B+0.4%	$155.2B-0.1%	$155.4B+1.3%	$153.4B

JNJ Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY19
Operating Cash Flow	$24.5B+1.1%	$24.3B+6.5%	$22.8B-2.6%	$23.4B-0.5%	$23.5B+0.5%	$23.4B
Capital Expenditures	$4.8B+9.2%	$4.4B-2.6%	$4.5B+24.4%	$3.7B+9.1%	$3.3B-4.3%	$3.5B
Free Cash Flow	$19.7B-0.7%	$19.8B+8.7%	$18.2B-7.6%	$19.8B-2.1%	$20.2B+1.4%	$19.9B
Investing Cash Flow	-$23.6B-26.8%	-$18.6B-2218.3%	$878.0M+110.1%	-$8.7B+58.3%	-$20.8B-236.2%	-$6.2B
Financing Cash Flow	-$5.5B-76.9%	-$3.1B+80.2%	-$15.8B-12.7%	-$14.0B-129.5%	-$6.1B+66.0%	-$18.0B
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$6.0B+144.8%	$2.4B-51.9%	$5.1B+46.2%	$3.5B+7.3%	$3.2B-52.3%	$6.7B

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$7.3B-20.3%	$9.2B+136.4%	$3.9B-7.1%	$4.2B-40.2%	$7.0B-12.6%	$8.0B+41.9%	$5.6B+54.0%	$3.7B
Capital Expenditures	$1.8B+58.8%	$1.2B+10.9%	$1.0B+31.2%	$795.0M-50.7%	$1.6B+56.7%	$1.0B+5.4%	$976.0M+20.9%	$807.0M
Free Cash Flow	$5.5B-31.7%	$8.0B+182.6%	$2.8B-16.1%	$3.4B-37.1%	$5.4B-22.9%	$7.0B+49.5%	$4.7B+63.4%	$2.9B
Investing Cash Flow	-$4.5B-727.5%	-$542.0M+97.0%	-$18.3B-6049.5%	-$297.0M+77.5%	-$1.3B+57.8%	-$3.1B+77.1%	-$13.7B-2849.8%	-$464.0M
Financing Cash Flow	-$1.4B+84.7%	-$8.9B-57.6%	-$5.7B-154.4%	$10.4B+877.8%	-$1.3B+86.4%	-$9.9B-231.0%	$7.5B+1281.7%	$546.0M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$1.9B+1.2%	$1.9B	$0-100.0%	$2.1B+654.3%	$282.0M-47.7%	$539.0M+296.3%	$136.0M-90.8%	$1.5B

JNJ Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY19
Gross Margin	67.9%-1.2pp	69.1%+0.2pp	68.8%-1.5pp	70.3%+4.7pp	65.6%-0.8pp	66.4%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	28.5%+12.6pp	15.8%-25.4pp	41.3%+14.8pp	26.5%+8.7pp	17.8%-0.6pp	18.4%
Return on Equity	32.9%+13.2pp	19.7%-31.4pp	51.1%+23.2pp	28.0%+5.6pp	22.4%-3.1pp	25.4%
Return on Assets	13.5%+5.6pp	7.8%-13.2pp	21.0%+9.3pp	11.7%+3.2pp	8.5%-1.1pp	9.6%
Current Ratio	1.03-0.1	1.11-0.0	1.16-0.2	1.39+0.1	1.28+0.0	1.26
Debt-to-Equity	0.48+0.1	0.43+0.1	0.380.0	0.39-0.1	0.46+0.0	0.45
FCF Margin	20.9%-1.4pp	22.3%+0.9pp	21.4%-3.7pp	25.1%+0.6pp	24.4%+0.2pp	24.3%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	67.6%-2.0pp	69.6%+1.7pp	67.9%+1.5pp	66.4%-1.9pp	68.3%-0.7pp	69.0%-0.4pp	69.4%-0.2pp	69.5%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	20.8%-0.6pp	21.5%-1.8pp	23.3%-26.9pp	50.2%+35.0pp	15.2%+3.3pp	12.0%-8.9pp	20.9%+5.7pp	15.2%
Return on Equity	6.3%-0.2pp	6.5%-0.6pp	7.1%-7.0pp	14.1%+9.3pp	4.8%+1.0pp	3.8%-2.7pp	6.6%+1.9pp	4.7%
Return on Assets	2.6%-0.1pp	2.7%-0.2pp	2.9%-2.8pp	5.7%+3.8pp	1.9%+0.4pp	1.5%-1.1pp	2.6%+0.7pp	1.9%
Current Ratio	1.03-0.0	1.07+0.1	1.01-0.3	1.26+0.1	1.11+0.1	1.03-0.0	1.07-0.1	1.17
Debt-to-Equity	0.48-0.0	0.500.0	0.500.0	0.49+0.1	0.43-0.0	0.450.0	0.44+0.1	0.36
FCF Margin	22.3%-11.1pp	33.4%+21.4pp	11.9%-3.5pp	15.4%-8.4pp	23.8%-7.1pp	31.0%+10.2pp	20.8%+7.4pp	13.3%

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Frequently Asked Questions

What is Johnson & Johnson's annual revenue?

Johnson & Johnson (JNJ) reported $94.2B in total revenue for fiscal year 2025. This represents a 6.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Johnson & Johnson's revenue growing?

Johnson & Johnson (JNJ) revenue grew by 6% year-over-year, from $88.8B to $94.2B in fiscal year 2025.

Is Johnson & Johnson profitable?

Yes, Johnson & Johnson (JNJ) reported a net income of $26.8B in fiscal year 2025, with a net profit margin of 28.5%.

How much debt does Johnson & Johnson have?

As of fiscal year 2025, Johnson & Johnson (JNJ) had $19.7B in cash and equivalents against $39.4B in long-term debt.

What is Johnson & Johnson's gross margin?

Johnson & Johnson (JNJ) had a gross margin of 67.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Johnson & Johnson's net profit margin?

Johnson & Johnson (JNJ) had a net profit margin of 28.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Johnson & Johnson pay dividends?

Yes, Johnson & Johnson (JNJ) paid $5.14 per share in dividends during fiscal year 2025.

What is Johnson & Johnson's return on equity (ROE)?

Johnson & Johnson (JNJ) has a return on equity of 32.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Johnson & Johnson's free cash flow?

Johnson & Johnson (JNJ) generated $19.7B in free cash flow during fiscal year 2025. This represents a -0.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Johnson & Johnson's operating cash flow?

Johnson & Johnson (JNJ) generated $24.5B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Johnson & Johnson's total assets?

Johnson & Johnson (JNJ) had $199.2B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Johnson & Johnson's capital expenditures?

Johnson & Johnson (JNJ) invested $4.8B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Johnson & Johnson spend on research and development?

Johnson & Johnson (JNJ) invested $109.0M in research and development during fiscal year 2025.

Does Johnson & Johnson buy back shares?

Yes, Johnson & Johnson (JNJ) spent $6.0B on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Johnson & Johnson have outstanding?

Johnson & Johnson (JNJ) had 2.41B shares outstanding as of fiscal year 2025.

What is Johnson & Johnson's current ratio?

Johnson & Johnson (JNJ) had a current ratio of 1.03 as of fiscal year 2025, which is considered adequate.

What is Johnson & Johnson's debt-to-equity ratio?

Johnson & Johnson (JNJ) had a debt-to-equity ratio of 0.48 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Johnson & Johnson's return on assets (ROA)?

Johnson & Johnson (JNJ) had a return on assets of 13.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Johnson & Johnson's Piotroski F-Score?

Johnson & Johnson (JNJ) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Johnson & Johnson's earnings high quality?

Johnson & Johnson (JNJ) has an earnings quality ratio of 0.92x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Johnson & Johnson?

Johnson & Johnson (JNJ) scores 62 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.