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 (JNJ) Financials

JNJ NYSE

Trailing 12 months to September 27, 2026

Revenue $99.3B +7.8% YoY

Net Income $16.1B -35.9% YoY

EPS (Diluted) $6.59 -36.4% YoY

Free Cash Flow $20.6B +5.1% YoY

Market Cap $635.1B as of Oct 23, 2026

Price / Sales 6.4x on $99.3B revenue, trailing 12 months to September 27, 2026

Price / Earnings 39.5x on $16.1B net income, trailing 12 months to September 27, 2026

Price / Book 7.8x on $81.5B equity, Q3 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 23, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q3 FY2026, ended Sep 27, 2026 Reported Oct 21, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q3 FY2026, filed Oct 21, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the JNJ SEC filings page.

Johnson & Johnson (JNJ) reported $99.3B in revenue over the twelve months to Sep 27, 2026, up 7.8% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).

Rhea AI JNJ FY2025 2026-10-25

Johnson & Johnson converts steady sales growth into durable cash, but 2025 also brought thinner margins and heavier balance-sheet financing.

The key earnings-quality signal is the disconnect between net income and cash: in FY2025 net income reached $26.8B while operating cash flow was $24.5B, and cash flow barely changed from FY2024 despite the earnings rebound. That pattern makes reported profit more volatile than the underlying cash engine, rather than showing a matching acceleration in operations.

Revenue grew 6.0% in FY2025 while cost of revenue grew 10.1%, so growth consumed more of each sales dollar before overhead. Gross margin consequently fell 1.2 percentage points to 67.9%, indicating margin pressure rather than simple scale benefits.

The balance sheet is becoming more debt-supported: long-term debt grew 28.7% in FY2025 while the current ratio sat at 1.0x, leaving little excess short-term coverage. At the same time, R&D fell 14.9% as revenue grew 6.0%, so the year's expansion came with lighter development spending relative to sales.

Financial Health Signals

Financial Health Score 65/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Johnson & Johnson's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

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 50/100.

Leverage

Johnson & Johnson has a moderate D/E ratio of 0.48. This balance of debt and equity financing earns a leverage score of 61/100.

Liquidity

Johnson & Johnson's current ratio of 1.03 is below the typical benchmark, resulting in a score of 20/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow

Johnson & Johnson converts 20.9% of revenue into free cash flow ($19.7B). This strong cash generation earns a score of 87/100.

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

$25.4B

YoY+5.9%

QoQ+0.4%

5Y CAGR+1.7%

10Y CAGR+3.6%

Johnson & Johnson generated $25.4B in revenue in Q3 2026. This represents an increase of 5.9% from the same quarter a year earlier. Against the prior quarter it is up 0.4%.

Net Income

$210.0M

YoY-95.9%

QoQ-96.2%

5Y CAGR-43.6%

10Y CAGR-26.0%

Johnson & Johnson reported $210.0M in net income in Q3 2026. This represents a decrease of 95.9% from the same quarter a year earlier. Against the prior quarter it is down 96.2%.

EPS (Diluted)

$0.09

YoY-95.8%

QoQ-96.0%

5Y CAGR-42.0%

10Y CAGR-24.7%

Johnson & Johnson earned $0.09 per diluted share (EPS) in Q3 2026. This represents a decrease of 95.8% from the same quarter a year earlier. Against the prior quarter it is down 96.0%.

EBITDA

Not reported for Q3 2026.

Cash & Balance Sheet

Free Cash Flow

$6.4B

YoY-20.6%

QoQ-12.8%

5Y CAGR-3.4%

10Y CAGR+3.2%

Johnson & Johnson generated $6.4B in free cash flow in Q3 2026, representing cash available after capex. This represents a decrease of 20.6% from the same quarter a year earlier. Against the prior quarter it is down 12.8%.

Cash & Debt

$16.9B

YoY-7.2%

QoQ-17.2%

5Y CAGR-0.8%

10Y CAGR-0.7%

Johnson & Johnson held $16.9B in cash against $35.8B in long-term debt as of Q3 2026.

Dividends Per Share

$1.34

YoY+3.1%

QoQ0.0%

5Y CAGR+4.8%

10Y CAGR+5.3%

Johnson & Johnson paid $1.34 per share in dividends in Q3 2026. This represents an increase of 3.1% from the same quarter a year earlier. It is unchanged from the prior quarter.

Shares Outstanding

2.41B

YoY-0.1%

QoQ-0.1%

5Y CAGR-1.8%

10Y CAGR-1.2%

Johnson & Johnson had 2.41B shares outstanding in Q3 2026. This represents a decrease of 0.1% from the same quarter a year earlier. Against the prior quarter it is down 0.1%.

Margins & Returns

Gross Margin

68.1%

YoY-1.4pp

QoQ-0.1pp

5Y change-0.8pp

10Y change-1.1pp

Johnson & Johnson's gross margin was 68.1% in Q3 2026, indicating the percentage of revenue retained after direct costs. This is down 1.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.1 percentage points.

Net Margin

0.8%

YoY-20.6pp

QoQ-21.0pp

5Y change-14.9pp

10Y change-23.1pp

Johnson & Johnson's net profit margin was 0.8% in Q3 2026, showing the share of revenue converted to profit. This is down 20.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 21.0 percentage points.

Return on Equity

0.3%

YoY-6.2pp

QoQ-6.3pp

5Y change-5.0pp

10Y change-5.6pp

Johnson & Johnson's quarterly ROE was 0.3% in Q3 2026: one quarter's net income over shareholder equity, not annualized. This is down 6.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 6.3 percentage points.

Operating Margin

Not reported for Q3 2026.

Capital Allocation

R&D Spending

$4.7B

YoY+26.7%

QoQ+27.3%

Johnson & Johnson invested $4.7B in research and development in Q3 2026. This represents an increase of 26.7% from the same quarter a year earlier. Against the prior quarter it is up 27.3%.

Share Buybacks

$1.7B

YoY-10.1%

QoQ+673.3%

5Y CAGR+34.3%

10Y CAGR-2.5%

Johnson & Johnson spent $1.7B on share buybacks in Q3 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 10.1% from the same quarter a year earlier. Against the prior quarter it is up 673.3%.

Capital Expenditures

$1.4B

YoY+17.7%

QoQ+3.1%

5Y CAGR+12.8%

10Y CAGR+6.3%

Johnson & Johnson invested $1.4B in capex in Q3 2026, funding long-term assets and infrastructure. This represents an increase of 17.7% from the same quarter a year earlier. Against the prior quarter it is up 3.1%.

JNJ Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

JNJ quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$99.3B	$94.2B+6.0%	$88.8B+4.3%	$85.2B+6.5%	$80.0B+1.6%	$78.7B-4.7%	$82.6B+0.6%	$82.1B+0.6%	$81.6B+6.7%	$76.5B+6.3%	$71.9B+2.6%	$70.1B-5.7%	$74.3B+4.2%	$71.3B+6.1%	$67.2B+3.4%	$65.0B
Cost of Revenue	$32.2B	$30.3B+10.1%	$27.5B+3.5%	$26.6B+8.0%	$24.6B+5.1%	$23.4B-17.7%	$28.4B+3.2%	$27.6B+1.7%	$27.1B+6.5%	$25.4B+16.8%	$21.8B+1.2%	$21.5B-5.3%	$22.7B+1.8%	$22.3B+3.2%	$21.7B+6.4%	$20.4B
Gross Profit	$67.1B	$63.9B+4.2%	$61.4B+4.7%	$58.6B+5.8%	$55.4B+0.1%	$55.3B+2.2%	$54.2B-0.6%	$54.5B0.0%	$54.5B+6.8%	$51.0B+1.8%	$50.1B+3.2%	$48.5B-5.9%	$51.6B+5.3%	$49.0B+7.5%	$45.6B+2.0%	$44.7B
R&D Expenses	$16.1B	$14.7B-14.9%	$17.2B+14.2%	$15.1B+6.7%	$14.1B-1.0%	$14.3B+17.4%	$12.2B+7.1%	$11.4B+5.4%	$10.8B+1.7%	$10.6B+15.9%	$9.1B+1.1%	$9.0B+6.5%	$8.5B+3.8%	$8.2B+6.8%	$7.7B+1.6%	$7.5B
SG&A Expenses	$25.5B	$23.7B+3.5%	$22.9B+6.3%	$21.5B+6.3%	$20.2B+0.6%	$20.1B-8.9%	$22.1B-0.4%	$22.2B-1.6%	$22.5B+4.7%	$21.5B+7.2%	$20.1B-5.4%	$21.2B-3.4%	$22.0B+0.6%	$21.8B+4.6%	$20.9B-0.5%	$21.0B
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$21.6B+31.6%	$16.4B+9.7%	$15.0B+8.6%	$13.8B
EBITDA	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$25.5B+24.2%	$20.5B+10.2%	$18.6B+10.0%	$16.9B
Interest Expense	$984.0M	$971.0M+28.6%	$755.0M-2.2%	$772.0M+179.7%	$276.0M+50.8%	$183.0M-9.0%	$201.0M-36.8%	$318.0M-68.4%	$1.0B+7.6%	$934.0M+28.7%	$726.0M+31.5%	$552.0M+3.6%	$533.0M+10.6%	$482.0M-9.4%	$532.0M-6.8%	$571.0M
Income Tax	$1.6B	$5.8B+120.4%	$2.6B+51.0%	$1.7B-41.9%	$3.0B+117.1%	$1.4B-22.8%	$1.8B-19.3%	$2.2B-18.2%	$2.7B-83.5%	$16.4B+401.8%	$3.3B-13.8%	$3.8B-10.7%	$4.2B+158.5%	$1.6B-49.7%	$3.3B+21.3%	$2.7B
Net Income	$16.1B	$26.8B+90.6%	$14.1B-60.0%	$35.2B+95.9%	$17.9B-14.1%	$20.9B+41.9%	$14.7B-2.7%	$15.1B-1.2%	$15.3B+1076.7%	$1.3B-92.1%	$16.5B+7.3%	$15.4B-5.6%	$16.3B+18.0%	$13.8B+27.4%	$10.9B+12.2%	$9.7B
EPS (Basic)	N/A	$11.13+90.6%	$5.84-57.9%	$13.88+103.2%	$6.83-13.9%	$7.93+41.9%	$5.59-2.3%	$5.72+0.4%	$5.70+1087.5%	$0.48-92.1%	$6.04+8.6%	$5.56-4.1%	$5.80+17.9%	$4.92+24.9%	$3.94+11.3%	$3.54
EPS (Diluted)	$6.59	$11.03+90.5%	$5.79-57.8%	$13.72+103.9%	$6.73-13.8%	$7.81+41.7%	$5.51-2.1%	$5.63+0.4%	$5.61+1093.6%	$0.47-92.1%	$5.93+8.2%	$5.48-3.9%	$5.70+18.5%	$4.81+24.6%	$3.86+10.6%	$3.49
Diluted Shares (Avg)	N/A	2.43B0.0%	2.43B-5.1%	2.56B-3.9%	2.66B-0.4%	2.67B+0.1%	2.67B-0.5%	2.68B-1.6%	2.73B-0.6%	2.75B-1.6%	2.79B-0.9%	2.81B-1.8%	2.86B-0.5%	2.88B+2.3%	2.81B+1.3%	2.78B

Metric	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K
Revenue	$25.4B+5.9%	$25.3B+6.6%	$24.1B+9.9%	$24.6B+9.1%	$24.0B+6.8%	$23.7B+5.8%	$21.9B+2.4%	$22.5B+5.5%
Cost of Revenue	$8.1B+10.9%	$8.1B+5.5%	$8.1B+10.2%	$8.0B+11.8%	$7.3B+4.9%	$7.6B+11.0%	$7.4B+13.0%	$7.1B+7.9%
Gross Profit	$17.3B+3.7%	$17.3B+7.1%	$16.0B+9.8%	$16.6B+7.8%	$16.7B+7.6%	$16.1B+3.4%	$14.5B-2.3%	$15.4B+4.4%
R&D Expenses	$4.7B+26.7%	$3.7B+3.9%	$3.5B+9.4%	$4.3B-19.7%	$3.7B-25.8%	$3.5B+2.2%	$3.2B-8.9%	$5.3B+53.7%
SG&A Expenses	$6.3B+6.1%	$6.4B+9.2%	$6.0B+18.0%	$6.8B+4.6%	$5.9B+8.1%	$5.9B+3.7%	$5.1B-2.8%	$6.5B+19.5%
Interest Expense	$217.0M-11.4%	$281.0M-8.8%	$272.0M+33.3%	$214.0M+56.2%	$245.0M+26.9%	$308.0M+14.1%	$204.0M+31.6%	$137.0M-28.6%
Income Tax	-$176.0M-107.5%	$1.2B+27.1%	$755.0M-71.3%	-$150.0M-132.9%	$2.3B+263.5%	$954.0M-10.2%	$2.6B+473.4%	$456.0M-49.8%
Net Income	$210.0M-95.9%	$5.5B-0.1%	$5.2B-52.4%	$5.1B+49.1%	$5.2B+91.2%	$5.5B+18.2%	$11.0B+237.9%	$3.4B-86.8%
EPS (Basic)	$0.09-95.8%	$2.300.0%	$2.17-52.5%	$2.12+49.3%	$2.14+91.1%	$2.30+17.9%	$4.57+238.5%	$1.42-86.2%
EPS (Diluted)	$0.09-95.8%	$2.27-0.9%	$2.14-52.9%	$2.09+48.2%	$2.12+91.0%	$2.29+18.7%	$4.54+238.8%	$1.41-86.2%
Diluted Shares (Avg)	2.45B+0.8%	2.44B+0.9%	2.45B+0.9%	N/A	2.43B0.0%	2.42B-0.1%	2.42B-0.3%	N/A

Not reported in any period shown, so not listed: Operating Income, EBITDA.

JNJ Balance Sheet

JNJ quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$199.2B+10.6%	$180.1B+7.5%	$167.6B-10.6%	$187.4B+2.9%	$182.0B+4.1%	$174.9B+10.9%	$157.7B+3.1%	$153.0B-2.8%	$157.3B+11.4%	$141.2B+5.8%	$133.4B+2.3%	$130.4B-1.8%	$132.7B+9.3%	$121.3B+6.8%	$113.6B
Current Assets	$55.6B-0.5%	$55.9B+4.5%	$53.5B-3.3%	$55.3B-9.3%	$61.0B+19.0%	$51.2B+13.2%	$45.3B-1.6%	$46.0B+6.8%	$43.1B-33.7%	$65.0B+8.0%	$60.2B+8.0%	$55.7B-1.2%	$56.4B+22.3%	$46.1B-15.1%	$54.3B
Cash & Equivalents	$19.7B-18.2%	$24.1B+10.3%	$21.9B+69.6%	$12.9B-11.0%	$14.5B+3.6%	$14.0B-19.2%	$17.3B-4.4%	$18.1B+1.6%	$17.8B-6.1%	$19.0B+38.2%	$13.7B-5.4%	$14.5B-30.6%	$20.9B+40.3%	$14.9B-39.2%	$24.5B
Short-Term Investments	$393.0M-5.8%	$417.0M-61.0%	$1.1B-88.6%	$9.4B-45.1%	$17.1B+52.9%	$11.2B+465.1%	$2.0B+25.4%	$1.6B+234.7%	$472.0M-97.9%	$22.9B-6.9%	$24.6B+32.7%	$18.6B+124.3%	$8.3B+34.0%	$6.2B-20.0%	$7.7B
Inventory	$14.2B+14.0%	$12.4B+11.3%	$11.2B+8.9%	$10.3B-1.1%	$10.4B+11.2%	$9.3B+3.6%	$9.0B+4.9%	$8.6B-1.9%	$8.8B+7.6%	$8.1B+1.1%	$8.1B-1.6%	$8.2B+3.9%	$7.9B+5.1%	$7.5B+19.3%	$6.3B
Accounts Receivable	$17.2B+15.7%	$14.8B-0.2%	$14.9B+5.9%	$14.0B-8.1%	$15.3B+12.6%	$13.6B-6.2%	$14.5B+2.7%	$14.1B+4.5%	$13.5B+15.3%	$11.7B+9.0%	$10.7B-2.3%	$11.0B-6.2%	$11.7B+3.6%	$11.3B+6.9%	$10.6B
Long-Term Investments	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0
Goodwill	$48.8B+10.3%	$44.2B+20.9%	$36.6B+1.4%	$36.0B+41.7%	$25.4B-30.1%	$36.4B+8.2%	$33.6B+10.5%	$30.5B-4.6%	$31.9B+39.9%	$22.8B+5.4%	$21.6B-0.9%	$21.8B-4.2%	$22.8B+1.7%	$22.4B+39.0%	$16.1B
Total Liabilities	$117.7B+8.3%	$108.6B+10.0%	$98.8B-10.7%	$110.6B+2.4%	$108.0B-3.2%	$111.6B+13.6%	$98.3B+5.4%	$93.2B-4.1%	$97.1B+37.2%	$70.8B+13.7%	$62.3B+2.7%	$60.6B+3.4%	$58.6B+3.7%	$56.5B-0.1%	$56.6B
Current Liabilities	$54.1B+7.6%	$50.3B+8.7%	$46.3B-17.1%	$55.8B+23.4%	$45.2B+6.4%	$42.5B+18.2%	$36.0B+15.2%	$31.2B+2.3%	$30.5B+16.2%	$26.3B-5.3%	$27.7B+10.9%	$25.0B-2.5%	$25.7B+5.8%	$24.3B+6.4%	$22.8B
Non-Current Liabilities	$63.5B+9.0%	$58.3B+11.0%	$52.5B-4.1%	$54.8B-12.7%	$62.8B-9.2%	$69.1B+11.0%	$62.3B+0.5%	$62.0B-7.0%	$66.6B+49.7%	$44.5B+28.9%	$34.5B-3.0%	$35.6B+8.0%	$33.0B+2.2%	$32.3B-4.4%	$33.8B
Long-Term Debt	$39.4B+28.7%	$30.7B+18.4%	$25.9B-3.7%	$26.9B-10.3%	$30.0B-8.1%	$32.6B+23.2%	$26.5B-4.3%	$27.7B-9.8%	$30.7B+36.7%	$22.4B+74.6%	$12.9B-15.0%	$15.1B+13.5%	$13.3B+16.0%	$11.5B-11.4%	$13.0B
Total Equity	$81.5B+14.1%	$71.5B+3.9%	$68.8B-10.5%	$76.8B+3.8%	$74.0B+17.0%	$63.3B+6.4%	$59.5B-0.5%	$59.8B-0.7%	$60.2B-14.6%	$70.4B-1.0%	$71.2B+2.0%	$69.8B-5.8%	$74.1B+14.2%	$64.8B+13.6%	$57.1B
Retained Earnings	$169.0B+8.5%	$155.8B+1.3%	$153.8B+19.9%	$128.3B+4.3%	$123.1B+8.1%	$113.9B+2.9%	$110.7B+4.2%	$106.2B+4.3%	$101.8B-7.9%	$110.6B+6.4%	$103.9B+6.8%	$97.2B+8.7%	$89.5B+4.1%	$86.0B+5.8%	$81.3B

Metric	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K
Total Assets	$197.4B+2.4%	$201.1B+4.0%	$200.9B+3.7%	$199.2B+10.6%	$192.8B+8.1%	$193.4B+6.8%	$193.7B+12.6%	$180.1B+8.5%
Current Assets	$56.4B+3.2%	$59.8B+9.7%	$59.2B-17.3%	$55.6B-0.5%	$54.6B+2.6%	$54.5B-5.7%	$71.6B+25.5%	$55.9B+4.1%
Cash & Equivalents	$16.9B-7.2%	$20.4B+9.9%	$21.7B-43.6%	$19.7B-18.2%	$18.2B-8.8%	$18.6B-25.3%	$38.5B+51.0%	$24.1B+22.2%
Short-Term Investments	$318.0M-3.9%	$336.0M+10.9%	$363.0M+18.2%	$393.0M-5.8%	$331.0M+4.4%	$303.0M-49.2%	$307.0M-58.8%	$417.0M-89.0%
Inventory	$15.4B+8.7%	$15.1B+12.9%	$14.6B+15.2%	$14.2B+14.0%	$14.1B+12.2%	$13.4B+10.2%	$12.7B+11.2%	$12.4B+11.1%
Accounts Receivable	$19.0B+7.8%	$19.0B+6.7%	$17.7B+10.6%	$17.2B+15.7%	$17.6B+8.9%	$17.8B+13.0%	$16.0B+7.2%	$14.8B+0.3%
Goodwill	$48.5B+0.9%	$48.5B+0.8%	$48.6B+9.2%	$48.8B+10.3%	$48.0B+7.3%	$48.1B+8.7%	$44.5B+21.4%	$44.2B+22.4%
Total Liabilities	$115.9B+2.1%	$116.1B+1.0%	$119.7B+3.6%	$117.7B+8.3%	$113.5B+5.0%	$114.9B+4.9%	$115.6B+13.4%	$108.6B+14.5%
Current Liabilities	$55.5B+9.0%	$54.9B+1.3%	$57.7B+1.4%	$54.1B+7.6%	$50.9B-1.7%	$54.2B+0.5%	$56.9B+16.8%	$50.3B+13.4%
Non-Current Liabilities	$60.4B-3.6%	$61.2B+0.8%	$62.0B+5.7%	$63.5B+9.0%	$62.7B+11.2%	$60.7B+9.2%	$58.7B+10.2%	$58.3B+15.5%
Long-Term Debt	$35.8B-9.2%	$37.3B-4.8%	$37.5B-2.2%	$39.4B+28.7%	$39.4B+25.9%	$39.2B+24.0%	$38.4B+52.9%	$30.7B+17.7%
Total Equity	$81.5B+2.8%	$85.0B+8.3%	$81.2B+3.9%	$81.5B+14.1%	$79.3B+13.0%	$78.5B+9.7%	$78.1B+11.6%	$71.5B+0.4%
Retained Earnings	$168.4B+0.6%	$171.7B+3.8%	$169.2B+4.0%	$169.0B+8.5%	$167.3B+7.8%	$165.4B+6.4%	$162.6B+6.0%	$155.8B+2.1%

Not reported in any period shown, so not listed: Long-Term Investments.

JNJ Cash Flow Statement

JNJ quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$26.2B	$24.5B+1.1%	$24.3B+6.5%	$22.8B+7.5%	$21.2B-9.5%	$23.4B-0.5%	$23.5B+0.5%	$23.4B+5.5%	$22.2B+5.4%	$21.1B+12.2%	$18.8B-4.1%	$19.6B+4.6%	$18.7B+7.4%	$17.4B+13.1%	$15.4B+7.7%	$14.3B
Depreciation & Amortization	N/A	$7.5B+2.2%	$7.3B-2.0%	$7.5B+7.4%	$7.0B-5.7%	$7.4B+2.2%	$7.2B+3.2%	$7.0B+1.2%	$6.9B+22.8%	$5.6B+50.3%	$3.8B+0.2%	$3.7B-3.8%	$3.9B-5.1%	$4.1B+11.9%	$3.7B+16.1%	$3.2B
Stock-Based Compensation	N/A	$1.4B+15.1%	$1.2B+1.2%	$1.2B+2.1%	$1.1B+0.3%	$1.1B+12.9%	$1.0B+2.9%	$977.0M-0.1%	$978.0M+1.7%	$962.0M+9.6%	$878.0M+0.5%	$874.0M+10.4%	$792.0M+8.8%	$728.0M+10.0%	$662.0M+6.6%	$621.0M
Capital Expenditures	$5.6B	$4.8B+9.2%	$4.4B-2.6%	$4.5B+13.3%	$4.0B+9.8%	$3.7B+9.1%	$3.3B-4.3%	$3.5B-4.7%	$3.7B+11.9%	$3.3B+1.6%	$3.2B-6.8%	$3.5B-6.8%	$3.7B+3.3%	$3.6B+22.5%	$2.9B+1.4%	$2.9B
Free Cash Flow	$20.6B	$19.7B-0.7%	$19.8B+8.7%	$18.2B+6.2%	$17.2B-13.0%	$19.8B-2.1%	$20.2B+1.4%	$19.9B+7.5%	$18.5B+4.2%	$17.8B+14.4%	$15.5B-3.5%	$16.1B+7.4%	$15.0B+8.5%	$13.8B+10.9%	$12.5B+9.3%	$11.4B
Investing Cash Flow	-$9.3B	-$23.6Bn/m	-$18.6B-2218.3%	$878.0Mn/m	-$12.4Bn/m	-$8.7Bn/m	-$20.8Bn/m	-$6.2Bn/m	-$3.2Bn/m	-$14.9Bn/m	-$4.8Bn/m	-$7.7Bn/m	-$12.3Bn/m	-$5.1Bn/m	-$4.5Bn/m	-$4.6B
Financing Cash Flow	-$18.1B	-$5.5Bn/m	-$3.1Bn/m	-$15.8Bn/m	-$8.9Bn/m	-$14.0Bn/m	-$6.1Bn/m	-$18.0Bn/m	-$18.5Bn/m	-$7.7Bn/m	-$8.6Bn/m	-$11.1Bn/m	-$12.5Bn/m	-$6.1Bn/m	-$20.6Bn/m	-$4.5B
Dividends Paid	$12.7B	$12.4B+4.7%	$11.8B+0.5%	$11.8B+0.8%	$11.7B+5.9%	$11.0B+5.3%	$10.5B+5.7%	$9.9B+4.5%	$9.5B+6.2%	$8.9B+3.7%	$8.6B+5.5%	$8.2B+5.2%	$7.8B+6.6%	$7.3B+10.2%	$6.6B+7.4%	$6.2B
Share Buybacks	$7.9B	$6.0B+144.8%	$2.4B-51.9%	$5.1B-16.3%	$6.0B+74.6%	$3.5B+7.3%	$3.2B-52.3%	$6.7B+15.0%	$5.9B-7.7%	$6.4B-29.2%	$9.0B+69.7%	$5.3B-25.7%	$7.1B+101.4%	$3.5B-72.6%	$12.9B+411.6%	$2.5B

Metric	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K
Operating Cash Flow	$7.7B-15.8%	$8.6B+122.2%	$2.5B-39.8%	$7.3B+4.7%	$9.2B+14.7%	$3.9B-31.2%	$4.2B+14.1%	$7.0B-6.8%
Depreciation & Amortization	$2.1B+19.1%	$2.0B+0.8%	$2.0B+13.1%	$2.0B+6.1%	$1.8B-3.7%	$1.9B+9.0%	$1.8B-2.4%	$1.9B+3.7%
Stock-Based Compensation	N/A	N/A	$300.0M+4.2%	N/A	N/A	N/A	$288.0M-4.6%	N/A
Capital Expenditures	$1.4B+17.7%	$1.3B+26.7%	$1.0B+31.9%	$1.8B+14.0%	$1.2B+12.4%	$1.0B+6.9%	$795.0M-1.5%	$1.6B+66.7%
Free Cash Flow	$6.4B-20.6%	$7.3B+157.3%	$1.5B-56.6%	$5.5B+1.9%	$8.0B+15.0%	$2.8B-39.1%	$3.4B+18.6%	$5.4B-17.6%
Investing Cash Flow	-$2.7Bn/m	-$1.1Bn/m	-$1.0Bn/m	-$4.5Bn/m	-$542.0Mn/m	-$18.3Bn/m	-$297.0Mn/m	-$1.3B-151.9%
Financing Cash Flow	-$8.5Bn/m	-$8.8Bn/m	$530.0M-94.9%	-$1.4Bn/m	-$8.9Bn/m	-$5.7B-175.1%	$10.4B+1808.8%	-$1.3Bn/m
Dividends Paid	$3.2B+3.0%	$3.2B+3.1%	$3.1B+4.8%	$3.1B+4.9%	$3.1B+4.9%	$3.1B+4.8%	$3.0B+4.2%	$3.0B+3.9%
Share Buybacks	$1.7B-10.1%	$221.0Mn/m	$4.0B+89.4%	$1.9B+582.3%	$1.9B+252.9%	$0-100.0%	$2.1B+44.2%	$282.0M-69.3%

JNJ Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

JNJ quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	67.9%-1.2pp	69.1%+0.2pp	68.8%-0.4pp	69.3%-1.0pp	70.3%+4.7pp	65.6%-0.8pp	66.4%-0.4pp	66.8%+0.1pp	66.7%-3.0pp	69.7%+0.4pp	69.3%-0.1pp	69.4%+0.7pp	68.7%+0.9pp	67.8%-0.9pp	68.7%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	29.0%+6.0pp	23.0%+0.8pp	22.3%+1.1pp	21.2%
Net Margin	28.5%+12.6pp	15.8%-25.4pp	41.3%+18.9pp	22.4%-4.1pp	26.5%+8.7pp	17.8%-0.6pp	18.4%-0.3pp	18.8%+17.0pp	1.7%-21.3pp	23.0%+1.0pp	22.0%0.0pp	22.0%+2.6pp	19.4%+3.3pp	16.1%+1.3pp	14.9%
Return on Equity	32.9%+13.2pp	19.7%-31.4pp	51.1%+27.7pp	23.4%-4.8pp	28.2%+4.9pp	23.3%-2.2pp	25.4%-0.2pp	25.6%+23.4pp	2.2%-21.3pp	23.5%+1.8pp	21.7%-1.7pp	23.4%+4.7pp	18.7%+1.9pp	16.7%-0.2pp	16.9%
Return on Assets	13.5%+5.6pp	7.8%-13.2pp	21.0%+11.4pp	9.6%-1.9pp	11.5%+3.1pp	8.4%-1.2pp	9.6%-0.4pp	10.0%+9.2pp	0.8%-10.9pp	11.7%+0.2pp	11.6%-1.0pp	12.5%+2.1pp	10.4%+1.5pp	8.9%+0.4pp	8.5%
Current Ratio	1.03-0.1x	1.110.0x	1.16+0.2x	0.99-0.4x	1.35+0.1x	1.21-0.1x	1.26-0.2x	1.47+0.1x	1.41-1.1x	2.47+0.3x	2.17-0.1x	2.230.0x	2.20+0.3x	1.90-0.5x	2.38
Debt-to-Equity	0.48+0.1x	0.43+0.1x	0.380.0x	0.35-0.1x	0.41-0.1x	0.52+0.1x	0.450.0x	0.460.0x	0.51+0.2x	0.32+0.1x	0.180.0x	0.220.0x	0.180.0x	0.18-0.1x	0.23
Liabilities-to-Equity	1.44-0.1x	1.52+0.1x	1.440.0x	1.440.0x	1.46-0.3x	1.76+0.1x	1.65+0.1x	1.56-0.1x	1.61+0.6x	1.01+0.1x	0.880.0x	0.87+0.1x	0.79-0.1x	0.87-0.1x	0.99
Asset Turnover	0.470.0x	0.490.0x	0.51+0.1x	0.430.0x	0.430.0x	0.470.0x	0.520.0x	0.530.0x	0.490.0x	0.510.0x	0.530.0x	0.570.0x	0.540.0x	0.550.0x	0.57
FCF Margin	20.9%-1.4pp	22.3%+0.9pp	21.4%-0.1pp	21.5%-3.6pp	25.1%+0.6pp	24.4%+0.2pp	24.3%+1.6pp	22.7%-0.5pp	23.3%+1.6pp	21.6%-1.4pp	23.0%+2.8pp	20.2%+0.8pp	19.4%+0.8pp	18.5%+1.0pp	17.5%

Metric	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K
Gross Margin	68.1%-1.4pp	68.2%+0.3pp	66.3%-0.1pp	67.6%-0.8pp	69.6%+0.5pp	67.9%-1.5pp	66.4%-3.1pp	68.3%-0.7pp
Net Margin	0.8%-20.6pp	21.9%-1.5pp	21.8%-28.5pp	20.8%+5.6pp	21.5%+9.5pp	23.3%+2.4pp	50.2%+35.0pp	15.2%
Return on Equity	0.3%-6.2pp	6.5%-0.5pp	6.5%-7.6pp	6.3%+1.5pp	6.5%+2.7pp	7.1%+0.5pp	14.1%+9.4pp	4.8%-31.7pp
Return on Assets	0.1%-2.6pp	2.8%-0.1pp	2.6%-3.1pp	2.6%+0.7pp	2.7%+1.2pp	2.9%+0.3pp	5.7%+3.8pp	1.9%-13.8pp
Current Ratio	1.02-0.1x	1.09+0.1x	1.03-0.2x	1.03-0.1x	1.070.0x	1.01-0.1x	1.26+0.1x	1.11-0.1x
Debt-to-Equity	0.44-0.1x	0.44-0.1x	0.460.0x	0.48+0.1x	0.50+0.1x	0.50+0.1x	0.49+0.1x	0.43+0.1x
Liabilities-to-Equity	1.420.0x	1.37-0.1x	1.470.0x	1.44-0.1x	1.43-0.1x	1.46-0.1x	1.480.0x	1.52+0.2x
Asset Turnover	0.130.0x	0.130.0x	0.120.0x	0.120.0x	0.120.0x	0.120.0x	0.110.0x	0.130.0x
FCF Margin	25.0%-8.4pp	28.8%+16.9pp	6.1%-9.3pp	22.3%-1.6pp	33.4%+2.4pp	11.9%-8.8pp	15.4%+2.1pp	23.8%-6.7pp

Not reported in any period shown, so not listed: Operating Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Johnson & Johnson JNJ	FY2025	$94.2B	$26.8B	28.5%	$635.1B	65/100
AbbVie Inc. ABBV	FY2025	$61.2B	$4.2B	6.9%	$504.8B	58/100
Eli Lilly and Company LLY	FY2025	$65.2B	$20.6B	31.7%	$1.1T	70/100
AstraZeneca PLC AZN	FY2025	$58.7B	$10.2B	17.4%	$266.0B	61/100
Novartis AG NVS	FY2025	$56.7B	$14.0B	24.7%	$287.2B	68/100

Where Johnson & Johnson Ranks

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 6.0% 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 $16.1B over the trailing 12 months to September 27, 2026. In fiscal year 2025 it reported a net income of $26.8B, 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 $14.7B 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. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.

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

Johnson & Johnson (JNJ) had a liabilities-to-equity ratio of 1.44 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-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 P/E ratio?

Johnson & Johnson (JNJ) trades at 39.5x earnings, its market capitalization divided by $16.1B net income, trailing 12 months to September 27, 2026. The market capitalization is $635.1B as of Oct 23, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Johnson & Johnson's price-to-sales ratio?

Johnson & Johnson (JNJ) trades at 6.4x sales, its market capitalization divided by $99.3B revenue, trailing 12 months to September 27, 2026. The market capitalization is $635.1B as of Oct 23, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

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 to 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 65 out of 100 on our Financial Health Score, indicating strong standing within its operating companies peer group. The score is the average of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.