Johnson & Johnson (JNJ)
Market Price (12/26/2025): $207.75 | Market Cap: $500.3 BilSector: Health Care | Industry: Pharmaceuticals
Johnson & Johnson (JNJ)
Market Price (12/26/2025): $207.75Market Cap: $500.3 BilSector: Health CareIndustry: Pharmaceuticals
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.5%, Dividend Yield is 2.4%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.3% | Trading close to highsDist 52W High is -3.0%, Dist 3Y High is -3.0% | Key risksJNJ key risks include [1] massive financial and reputational damage from tens of thousands of unresolved talcum powder lawsuits, Show more. |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 26% | Weak multi-year price returns2Y Excs Rtn is -3.4%, 3Y Excs Rtn is -52% | |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 26%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 20%, CFO LTM is 24 Bil, FCF LTM is 19 Bil | ||
| Low stock price volatilityVol 12M is 20% | ||
| Megatrend and thematic driversMegatrends include Biotechnology & Genomics, Precision Medicine, Aging Population & Chronic Disease, and Digital Health & Telemedicine. Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.5%, Dividend Yield is 2.4%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.3% |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 26% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 26%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 20%, CFO LTM is 24 Bil, FCF LTM is 19 Bil |
| Low stock price volatilityVol 12M is 20% |
| Megatrend and thematic driversMegatrends include Biotechnology & Genomics, Precision Medicine, Aging Population & Chronic Disease, and Digital Health & Telemedicine. Show more. |
| Trading close to highsDist 52W High is -3.0%, Dist 3Y High is -3.0% |
| Weak multi-year price returns2Y Excs Rtn is -3.4%, 3Y Excs Rtn is -52% |
| Key risksJNJ key risks include [1] massive financial and reputational damage from tens of thousands of unresolved talcum powder lawsuits, Show more. |
Why The Stock Moved
Qualitative Assessment
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Here are the key points for Johnson & Johnson's (JNJ) stock movement from August 31, 2025, to December 26, 2025: 1. Major Legal Setbacks from Talc Lawsuits. Johnson & Johnson faced significant legal challenges, including a Baltimore jury ordering the company to pay over $1.5 billion in damages to a woman who alleged that talc-based products caused her mesothelioma. This verdict, described as the largest-ever sum against J&J for a single plaintiff, created substantial legal liability risk and potential costs, contributing to a "precipitous drop" in its stock. Additionally, a £1 billion joint claim was filed in the UK, and a $966 million verdict was rendered in Los Angeles, further intensifying the legal battles.2. Key Regulatory Approvals and Expanded Indications for Pharmaceutical Products. The company received multiple positive regulatory approvals that expanded its market opportunities. The EU approved Tremfya for pediatric plaque psoriasis, broadening J&J's commercial reach in immunology. The FDA also cleared a subcutaneous formulation of Rybrevant for non-small cell lung cancer (NSCLC), significantly improving patient convenience and strengthening oncology growth prospects. Furthermore, the FDA approved an expanded indication for the TRUFILL n-BCA Liquid Embolic System for treating symptomatic chronic Subdural Hematoma.
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Stock Movement Drivers
Fundamental Drivers
The 17.6% change in JNJ stock from 9/25/2025 to 12/25/2025 was primarily driven by a 9.0% change in the company's Net Income Margin (%).| 9252025 | 12252025 | Change | |
|---|---|---|---|
| Stock Price ($) | 176.61 | 207.78 | 17.65% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 90627.00 | 92149.00 | 1.68% |
| Net Income Margin (%) | 25.00% | 27.26% | 9.02% |
| P/E Multiple | 18.75 | 19.92 | 6.23% |
| Shares Outstanding (Mil) | 2406.30 | 2408.30 | -0.08% |
| Cumulative Contribution | 17.65% |
Market Drivers
9/25/2025 to 12/25/2025| Return | Correlation | |
|---|---|---|
| JNJ | 17.6% | |
| Market (SPY) | 4.9% | -2.0% |
| Sector (XLV) | 16.2% | 55.5% |
Fundamental Drivers
The 38.6% change in JNJ stock from 6/26/2025 to 12/25/2025 was primarily driven by a 20.4% change in the company's P/E Multiple.| 6262025 | 12252025 | Change | |
|---|---|---|---|
| Stock Price ($) | 149.95 | 207.78 | 38.57% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 89331.00 | 92149.00 | 3.15% |
| Net Income Margin (%) | 24.41% | 27.26% | 11.65% |
| P/E Multiple | 16.55 | 19.92 | 20.37% |
| Shares Outstanding (Mil) | 2407.20 | 2408.30 | -0.05% |
| Cumulative Contribution | 38.57% |
Market Drivers
6/26/2025 to 12/25/2025| Return | Correlation | |
|---|---|---|
| JNJ | 38.6% | |
| Market (SPY) | 13.1% | -0.4% |
| Sector (XLV) | 16.6% | 54.9% |
Fundamental Drivers
The 46.8% change in JNJ stock from 12/25/2024 to 12/25/2025 was primarily driven by a 62.8% change in the company's Net Income Margin (%).| 12252024 | 12252025 | Change | |
|---|---|---|---|
| Stock Price ($) | 141.52 | 207.78 | 46.82% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 87696.00 | 92149.00 | 5.08% |
| Net Income Margin (%) | 16.74% | 27.26% | 62.80% |
| P/E Multiple | 23.20 | 19.92 | -14.13% |
| Shares Outstanding (Mil) | 2407.20 | 2408.30 | -0.05% |
| Cumulative Contribution | 46.82% |
Market Drivers
12/25/2024 to 12/25/2025| Return | Correlation | |
|---|---|---|
| JNJ | 46.8% | |
| Market (SPY) | 15.8% | 5.4% |
| Sector (XLV) | 13.3% | 57.6% |
Fundamental Drivers
The 28.3% change in JNJ stock from 12/26/2022 to 12/25/2025 was primarily driven by a 19.3% change in the company's Total Revenues ($ Mil).| 12262022 | 12252025 | Change | |
|---|---|---|---|
| Stock Price ($) | 162.01 | 207.78 | 28.25% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 77211.00 | 92149.00 | 19.35% |
| Net Income Margin (%) | 24.81% | 27.26% | 9.87% |
| P/E Multiple | 22.22 | 19.92 | -10.36% |
| Shares Outstanding (Mil) | 2627.90 | 2408.30 | 8.36% |
| Cumulative Contribution | 27.36% |
Market Drivers
12/26/2023 to 12/25/2025| Return | Correlation | |
|---|---|---|
| JNJ | 41.5% | |
| Market (SPY) | 48.3% | 1.9% |
| Sector (XLV) | 18.5% | 53.3% |
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| JNJ Return | 11% | 11% | 6% | -9% | -5% | 47% | 67% |
| Peers Return | 11% | 31% | 15% | 6% | 9% | 22% | 135% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 18% | 115% |
Monthly Win Rates [3] | |||||||
| JNJ Win Rate | 50% | 58% | 58% | 50% | 42% | 75% | |
| Peers Win Rate | 52% | 58% | 58% | 42% | 48% | 55% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| JNJ Max Drawdown | -23% | -2% | -7% | -16% | -7% | -2% | |
| Peers Max Drawdown | -25% | -8% | -15% | -19% | -5% | -13% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: PFE, MRK, LLY, ABBV, MDT. See JNJ Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/24/2025 (YTD)
How Low Can It Go
| Event | JNJ | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -21.7% | -25.4% |
| % Gain to Breakeven | 27.8% | 34.1% |
| Time to Breakeven | 705 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -27.8% | -33.9% |
| % Gain to Breakeven | 38.6% | 51.3% |
| Time to Breakeven | 31 days | 148 days |
| 2018 Correction | ||
| % Loss | -19.4% | -19.8% |
| % Gain to Breakeven | 24.1% | 24.7% |
| Time to Breakeven | 597 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -35.5% | -56.8% |
| % Gain to Breakeven | 55.0% | 131.3% |
| Time to Breakeven | 1,319 days | 1,480 days |
Compare to LLY, ABBV, MRK, PFE, BMY
In The Past
Johnson & Johnson's stock fell -21.7% during the 2022 Inflation Shock from a high on 4/25/2022. A -21.7% loss requires a 27.8% gain to breakeven.
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Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment offers baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR. CI:LABO, NEUTROGENA, and OGX brands; TYLENOL acetaminophen products; SUDAFED cold, flu, and allergy products; BENADRYL and ZYRTEC allergy products; MOTRIN IB ibuprofen products; NICORETTE smoking cessation products; and PEPCID acid reflux products. It also offers STAYFREE and CAREFREE sanitary pads; o.b. tampons; adhesive bandages under the BAND-AID brand; and first aid products under the NEOSPORIN brand. It serves general public, retail outlets, and distributors. The company's Pharmaceutical segment offers products for rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; HIV/AIDS and COVID-19 infectious diseases; mood disorders, neurodegenerative disorders, and schizophrenia; prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; thrombosis, diabetes and macular degeneration; and pulmonary arterial hypertension. This segment serves retailers, wholesalers, distributors, hospitals, and healthcare professionals directly for prescription use. Its MedTech segment provides electrophysiology products to treat cardiovascular diseases; neurovascular care products to treat hemorrhagic and ischemic stroke; orthopaedics products in support of hips, knees, trauma, spine, sports, and other; advanced and general surgery solutions that focus on breast aesthetics, ear, nose, and throat procedures; and disposable contact lenses and ophthalmic products related to cataract and laser refractive surgery under the ACUVUE brand. This segment serves wholesalers, hospitals, and retailers. The company was founded in 1886 and is based in New Brunswick, New Jersey.
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- Like Pfizer combined with Procter & Gamble.
- The General Electric of healthcare.
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- Oncology Treatments: Pharmaceuticals developed to treat various cancers, including multiple myeloma, prostate cancer, and blood cancers.
- Immunology Therapies: Biologic medications used to treat autoimmune diseases such as psoriasis, psoriatic arthritis, Crohn's disease, and ulcerative colitis.
- Neuroscience Medicines: Drugs addressing a range of neurological and psychiatric conditions, including major depressive disorder and schizophrenia.
- Cardiovascular & Metabolic Drugs: Medications for cardiovascular diseases, thrombosis, and metabolic disorders like type 2 diabetes.
- Pulmonary Hypertension Therapies: Specialized treatments for patients suffering from pulmonary arterial hypertension, a rare and progressive lung disease.
- Surgical Technologies: Advanced instruments, devices, and digital solutions used across various surgical specialties, including general surgery, bariatric, and gynecological procedures.
- Orthopaedic Solutions: Implants and instruments for joint reconstruction (hips, knees), trauma care, spine surgery, and sports medicine.
- Interventional Medical Devices: Products such as stents, catheters, and embolization devices used in minimally invasive procedures for cardiovascular and neurovascular conditions.
- Vision Care Products: A portfolio primarily consisting of ACUVUE® brand contact lenses and surgical products for improving eye health.
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Johnson & Johnson (JNJ) primarily sells its products to other companies rather than directly to individual consumers. These customer companies then distribute, resell, or utilize JNJ's products within the healthcare system or directly to the end-user.
Its major customer categories and specific customer companies include:
-
Pharmaceutical and Medical Device Wholesale Distributors: These companies purchase JNJ's prescription medicines, medical devices, and other healthcare products in large volumes and distribute them to pharmacies, hospitals, clinics, and other healthcare providers.
- McKesson Corporation (Symbol: MCK)
- Cencora (formerly AmerisourceBergen Corporation) (Symbol: COR)
- Cardinal Health, Inc. (Symbol: CAH)
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Retailers and Pharmacy Chains: These companies purchase JNJ's consumer health products (e.g., Tylenol, Band-Aid, Neutrogena, Listerine) and some over-the-counter medicines for direct resale to the end-consumer.
- CVS Health Corporation (Symbol: CVS)
- Walgreens Boots Alliance, Inc. (Symbol: WBA)
- Walmart Inc. (Symbol: WMT)
- Amazon.com, Inc. (Symbol: AMZN)
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- United Parcel Service (UPS)
- FedEx Corporation (FDX)
- Microsoft Corporation (MSFT)
- Amazon.com, Inc. (AMZN)
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Joaquin Duato, Chairman and Chief Executive Officer
Joaquin Duato joined Johnson & Johnson in 1989, starting with Janssen Pharmaceuticals in Spain. Throughout his more than three-decade tenure, he has held various leadership positions within the company across different sectors, geographies, and functions. In 2011, he was appointed Executive Vice President and Worldwide Chairman of Pharmaceuticals, where he played a pivotal role in turning around the struggling pharmaceutical business. Prior to becoming CEO, Duato served as Vice Chairman of the Executive Committee, providing strategic direction for the Pharmaceuticals and Consumer Health sectors and overseeing Information Technology and Global Supply Chain operations. He assumed the role of CEO in January 2022 and became Chairman in January 2023. Duato also oversaw the separation of Johnson & Johnson's consumer health segment, now known as Kenvue.
Joseph J. Wolk, Executive Vice President, Chief Financial Officer
Joseph J. Wolk joined Johnson & Johnson in 2008. He has held numerous finance leadership roles within the company, including Vice President of Finance for J&J Innovative Medicine, Vice President of Finance for MedTech's Global Supply Chain, and Vice President of Investor Relations. Wolk was appointed Chief Financial Officer in 2018. His family has a long history with Johnson & Johnson, with his father, uncle, and aunt also having worked at the company.
Vanessa Broadhurst, Executive Vice President, Global Corporate Affairs
Vanessa Broadhurst serves as the Executive Vice President, Global Corporate Affairs at Johnson & Johnson. Before this role, she was the company group chairman of global commercial strategy for pharmaceuticals and also served as president of Johnson & Johnson's North America pharma unit, Janssen.
Elizabeth Forminard, Executive Vice President, Chief Legal Officer
Elizabeth Forminard holds the position of Executive Vice President, Chief Legal Officer at Johnson & Johnson.
Kristen Mulholland, Executive Vice President, Chief Human Resources Officer
Kristen Mulholland is the Executive Vice President, Chief Human Resources Officer for Johnson & Johnson.
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The key risks to Johnson & Johnson's business include:
-
Talcum Powder Lawsuits
Johnson & Johnson faces tens of thousands of ongoing lawsuits related to its talc-based products, with allegations that they caused ovarian cancer and mesothelioma. The company has faced billions of dollars in verdicts and settlements, including a nearly $1 billion jury verdict in October 2025. Multiple attempts by J&J to resolve these claims through bankruptcy proceedings have been rejected by judges, indicating that the litigation is likely to continue in court. These lawsuits represent a significant financial burden, with legal expenses consuming a notable portion of annual net income, and pose a risk of brand erosion. -
Biosimilar Competition and Patent Expirations
The company is experiencing significant revenue declines due to biosimilar competition for its blockbuster drugs. Notably, Stelara's sales saw a dramatic year-over-year decline in Q1 2025 following its patent expiration in September 2023, with eight biosimilars launching in the U.S. market. Remicade has also faced biosimilar competition for several years, leading to reduced sales. This competitive pressure is expected to continue impacting J&J's pharmaceutical revenues. -
Regulatory Scrutiny and Drug Pricing Pressures
Johnson & Johnson faces broader regulatory scrutiny, particularly concerning product safety, as evidenced by the ongoing issues surrounding talc. Additionally, the company is subject to increasing pressures to lower drug prices, including the Inflation Reduction Act's Medicare Drug Price Negotiation Program, which mandates a significant price cut for Stelara starting in 2026. Potential U.S. tariffs on pharmaceuticals also pose a risk of disrupting supply chains and increasing operational expenses.
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The widespread and expanding efficacy of GLP-1 agonist drugs, such as Ozempic, Wegovy, Mounjaro, and Zepbound, primarily from competitors like Novo Nordisk and Eli Lilly. These drugs are demonstrating benefits beyond their initial indications for diabetes and obesity, showing positive outcomes in areas like cardiovascular disease, sleep apnea, and potentially other conditions. Johnson & Johnson does not currently possess a leading drug in this class. This trend poses an emerging threat by potentially disrupting JNJ's pharmaceutical pipeline in various therapeutic areas and, in the longer term, could reduce demand for certain MedTech products (e.g., orthopedic implants related to obesity-induced arthritis, bariatric surgery devices) if the prevalence of obesity-related comorbidities significantly declines.
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Johnson & Johnson (JNJ) operates in various addressable markets primarily through its Pharmaceutical (Innovative Medicine) and MedTech segments. The addressable market sizes for their main products and services are outlined below, with regional clarifications where available:
Pharmaceuticals (Innovative Medicine)
- Immunology: The global immunology market size was valued at USD 108.40 billion in 2024 and is estimated to reach approximately USD 286.38 billion by 2034. In the U.S., the immunology market was valued at USD 43.09 billion in 2024 and is anticipated to reach around USD 114.60 billion by 2034.
- Oncology (Drugs): The global oncology market size was calculated at USD 225.05 billion in 2024 and is projected to reach around USD 600.97 billion by 2034. The U.S. oncology market size was valued at USD 72.79 billion in 2024 and is projected to reach around USD 211.78 billion by 2034.
- Neuroscience: The global neuroscience market size was valued at USD 46.41 billion in 2024 and is projected to grow to USD 77.93 billion by 2033. North America led the global neuroscience market with a market share of more than 35% in 2024.
- Cardiovascular Drugs: The global cardiovascular drugs market size was approximately USD 149.99 billion in 2024 and is forecasted to hit around USD 214.72 billion by 2034.
MedTech
- Orthopedics: The global orthopedic market grew to USD 61.9 billion worldwide in 2024. North America held the largest revenue share of the orthopedic devices market at 47% in 2024. The U.S. is expected to dominate the global orthopedic devices market with a share of 93.8% within the North America region.
- Surgery (Devices): The global general surgery devices market is projected to reach USD 29.9 billion by 2030. The global minimally invasive surgery market size was valued at USD 47.45 billion in 2024 and is projected to reach USD 89.86 billion by 2032.
- Cardiovascular Devices: The global cardiovascular devices market size was USD 61.39 billion in 2023 and is projected to grow to USD 117.68 billion by 2032. North America dominated the cardiovascular devices market with a 52.24% share in 2023.
- Vision Care: The global vision care market size was valued at USD 68.1 billion in 2023 and is poised to grow from USD 70.65 billion in 2024 to USD 94.85 billion by 2032. North America currently dominates the market, holding a market share of over 45.6% in 2024.
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Here are 3-5 expected drivers of future revenue growth for Johnson & Johnson (JNJ) over the next 2-3 years:- Robust Innovative Medicine Pipeline and Recently Launched Products: Johnson & Johnson's Innovative Medicine segment is a primary driver of future revenue growth, with an anticipated operational sales growth of 5-7% from 2025-2030. This growth is expected to be fueled by a strong pipeline projected to deliver more than 20 novel therapies and over 50 product expansions by 2030. Key in-market brands like Darzalex, Erleada, Tremfya, and Spravato continue to perform strongly. Additionally, recently launched oncology drugs such as Carvykti, Tecvayli, Talvey, and Rybrevant/Lazcluze are expected to contribute significantly to sales. The company remains confident in its ability to grow the Innovative Medicine segment despite the loss of exclusivity for Stelara.
- Expansion in High-Growth MedTech Markets and New Product Introduction: The MedTech segment is forecast to achieve operational sales growth in the upper range of its markets, projected at 5-7% through 2027. This expansion is driven by a strategic focus on high-growth areas including interventional cardiovascular, robotics, and digital surgery. A significant portion of this growth, approximately one-third of 2027 sales, is expected to come from new products. Innovations like the Velys robotic system and the Ottava multi-port surgical robotic system are key to this strategy.
- Strategic Acquisitions and Business Development: Johnson & Johnson actively pursues strategic acquisitions and licensing agreements to bolster its portfolio and expand market reach. For example, the acquisitions of Abiomed and Shockwave Medical have significantly strengthened the company's position in the high-growth cardiovascular intervention market. These targeted acquisitions contribute to inorganic growth and help offset potential revenue declines from patent expirations.
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Share Repurchases
- In September 2022, Johnson & Johnson's Board of Directors authorized a share repurchase program of up to $5 billion of common stock.
- The company executed annual share buybacks of $11.089 billion in 2023 and $2.432 billion in 2024.
- During the first quarter of 2025, Johnson & Johnson repurchased $2.127 billion in common stock.
Share Issuance
- The initial public offering (IPO) of Kenvue in May 2023, where Johnson & Johnson retained a controlling stake of approximately 91%, contributed to a net reduction in J&J shares outstanding following an exchange offer.
- As of April 18, 2025, Johnson & Johnson had 2,406,073,279 shares of Common Stock outstanding.
Outbound Investments
- Johnson & Johnson made several significant acquisitions, including Momenta Pharmaceuticals for $6.5 billion in 2020, Abiomed for $16.6 billion in 2022, and Shockwave Medical for $13.1 billion in 2024.
- In 2025, the company acquired Intra-Cellular Therapies for $14.6 billion, enhancing its neuroscience portfolio.
- Since January 2024, Johnson & Johnson has invested approximately $50 billion in research and development and other inorganic growth opportunities.
Capital Expenditures
- Johnson & Johnson's capital expenditures averaged $3.61 billion from fiscal years ending January 2021 to 2024, peaking at $4.243 billion in December 2024.
- The company plans to invest over $55 billion in the United States over the next four years (starting from March 2025), representing a 25% increase compared to the prior four years.
- These investments include constructing four new manufacturing plants and expanding existing sites, with a primary focus on manufacturing, research and development, and technology capabilities within its Innovative Medicine and MedTech businesses, such as a new $2 billion+ biologics manufacturing facility in North Carolina.
Latest Trefis Analyses
| Title | |
|---|---|
| ARTICLES |
Trade Ideas
Select ideas related to JNJ. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11142025 | CRL | Charles River Laboratories International | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 21.1% | 21.1% | -3.7% |
| 11142025 | GDRX | GoodRx | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | -6.7% | -6.7% | -11.8% |
| 11142025 | ASTH | Astrana Health | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 16.7% | 16.7% | -5.5% |
| 11142025 | SGRY | Surgery Partners | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 2.3% | 2.3% | -1.4% |
| 11072025 | TFX | Teleflex | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 11.8% | 11.8% | -5.1% |
| 04302024 | JNJ | Johnson & Johnson | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 12.5% | 11.6% | 0.0% |
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Peer Comparisons for Johnson & Johnson
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 157.12 |
| Mkt Cap | 336.1 |
| Rev LTM | 61,215 |
| Op Inc LTM | 18,904 |
| FCF LTM | 11,712 |
| FCF 3Y Avg | 11,306 |
| CFO LTM | 15,071 |
| CFO 3Y Avg | 14,817 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 5.2% |
| Rev Chg 3Y Avg | 3.5% |
| Rev Chg Q | 6.7% |
| QoQ Delta Rev Chg LTM | 1.7% |
| Op Mgn LTM | 25.4% |
| Op Mgn 3Y Avg | 25.1% |
| QoQ Delta Op Mgn LTM | 1.1% |
| CFO/Rev LTM | 23.5% |
| CFO/Rev 3Y Avg | 23.1% |
| FCF/Rev LTM | 18.4% |
| FCF/Rev 3Y Avg | 17.5% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 336.1 |
| P/S | 4.8 |
| P/EBIT | 17.5 |
| P/E | 23.0 |
| P/CFO | 18.5 |
| Total Yield | 7.1% |
| Dividend Yield | 2.9% |
| FCF Yield 3Y Avg | 4.9% |
| D/E | 0.2 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -1.8% |
| 3M Rtn | 12.8% |
| 6M Rtn | 30.5% |
| 12M Rtn | 27.7% |
| 3Y Rtn | 32.8% |
| 1M Excs Rtn | -3.0% |
| 3M Excs Rtn | 7.8% |
| 6M Excs Rtn | 17.6% |
| 12M Excs Rtn | 12.9% |
| 3Y Excs Rtn | -47.1% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Innovative Medicine | 54,759 | 52,563 | 51,680 | 45,572 | 42,198 |
| MedTech | 30,400 | 27,427 | 27,060 | 22,959 | 25,963 |
| Consumer Health | 15,035 | 14,053 | 13,898 | ||
| Total | 85,159 | 79,990 | 93,775 | 82,584 | 82,059 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| MedTech | 74,710 | 70,956 | 53,372 | 49,578 | 49,462 |
| Innovative Medicine | 58,324 | 58,436 | 64,376 | 66,158 | 56,292 |
| General corporate | 34,524 | 30,749 | 39,189 | 31,803 | 25,356 |
| Discontinued operations | 27,237 | ||||
| Consumer Health | 25,081 | 27,355 | 26,618 | ||
| Total | 167,558 | 187,378 | 182,018 | 174,894 | 157,728 |
Price Behavior
Price Behavior
| Market Price | $207.78 | |
| Market Cap ($ Bil) | 500.4 | |
| First Trading Date | 01/02/1970 | |
| Distance from 52W High | -3.0% | |
| 50 Days | 200 Days | |
| DMA Price | $198.14 | $171.10 |
| DMA Trend | up | up |
| Distance from DMA | 4.9% | 21.4% |
| 3M | 1YR | |
| Volatility | 15.8% | 19.7% |
| Downside Capture | -40.76 | -17.01 |
| Upside Capture | 44.55 | 23.45 |
| Correlation (SPY) | -2.1% | 5.6% |
JNJ Betas & Captures as of 11/30/2025
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.01 | -0.09 | -0.09 | 0.03 | 0.06 | 0.11 |
| Up Beta | 0.48 | 0.39 | 0.41 | 0.19 | 0.09 | 0.16 |
| Down Beta | 0.13 | 0.04 | -0.11 | -0.28 | 0.10 | 0.11 |
| Up Capture | 73% | 22% | 27% | 46% | 11% | 3% |
| Bmk +ve Days | 12 | 25 | 38 | 73 | 141 | 426 |
| Stock +ve Days | 15 | 27 | 38 | 76 | 142 | 396 |
| Down Capture | -67% | -71% | -74% | -43% | -28% | 11% |
| Bmk -ve Days | 7 | 16 | 24 | 52 | 107 | 323 |
| Stock -ve Days | 4 | 14 | 24 | 49 | 106 | 352 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Comparison of JNJ With Other Asset Classes (Last 1Y) | |||||||
|---|---|---|---|---|---|---|---|
| JNJ | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 49.1% | 16.4% | 19.2% | 71.9% | 8.9% | 6.0% | -10.1% |
| Annualized Volatility | 19.5% | 17.3% | 19.5% | 19.3% | 15.3% | 17.1% | 35.0% |
| Sharpe Ratio | 1.92 | 0.72 | 0.78 | 2.69 | 0.36 | 0.18 | -0.12 |
| Correlation With Other Assets | 57.6% | 5.6% | 12.4% | -3.5% | 38.6% | -7.9% | |
ETFs used for asset classes: Sector ETF = XLV, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Comparison of JNJ With Other Asset Classes (Last 5Y) | |||||||
|---|---|---|---|---|---|---|---|
| JNJ | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 9.9% | 8.6% | 14.9% | 18.7% | 11.7% | 4.8% | 32.7% |
| Annualized Volatility | 16.7% | 14.5% | 17.1% | 15.5% | 18.7% | 18.9% | 48.7% |
| Sharpe Ratio | 0.45 | 0.41 | 0.70 | 0.97 | 0.51 | 0.17 | 0.60 |
| Correlation With Other Assets | 59.5% | 22.1% | 7.1% | -1.3% | 35.1% | 4.3% | |
ETFs used for asset classes: Sector ETF = XLV, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Comparison of JNJ With Other Asset Classes (Last 10Y) | |||||||
|---|---|---|---|---|---|---|---|
| JNJ | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 10.0% | 9.8% | 14.7% | 14.9% | 6.9% | 5.2% | 69.3% |
| Annualized Volatility | 18.4% | 16.6% | 18.0% | 14.8% | 17.6% | 20.8% | 55.8% |
| Sharpe Ratio | 0.47 | 0.48 | 0.70 | 0.83 | 0.31 | 0.22 | 0.90 |
| Correlation With Other Assets | 68.7% | 45.8% | 4.4% | 9.9% | 43.1% | 6.5% | |
ETFs used for asset classes: Sector ETF = XLV, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/14/2025 | -0.0% | 1.5% | 1.5% |
| 7/16/2025 | 6.2% | 8.2% | 12.4% |
| 4/15/2025 | -0.5% | 2.2% | -5.2% |
| 1/22/2025 | -1.9% | 1.5% | 8.6% |
| 10/15/2024 | 1.5% | 0.8% | -5.5% |
| 7/17/2024 | 3.7% | 0.9% | 4.9% |
| 4/16/2024 | -2.1% | 1.0% | 2.6% |
| 1/23/2024 | -1.6% | -1.9% | -1.6% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 13 | 17 | 12 |
| # Negative | 11 | 7 | 12 |
| Median Positive | 2.7% | 2.2% | 4.9% |
| Median Negative | -1.5% | -2.0% | -3.1% |
| Max Positive | 6.2% | 8.8% | 12.4% |
| Max Negative | -2.8% | -5.0% | -6.3% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 9302025 | 10222025 | 10-Q 9/28/2025 |
| 6302025 | 7242025 | 10-Q 6/29/2025 |
| 3312025 | 4232025 | 10-Q 3/30/2025 |
| 12312024 | 2132025 | 10-K 12/29/2024 |
| 9302024 | 10232024 | 10-Q 9/29/2024 |
| 6302024 | 7252024 | 10-Q 6/30/2024 |
| 3312024 | 5012024 | 10-Q 3/31/2024 |
| 12312023 | 2162024 | 10-K 12/31/2023 |
| 9302023 | 10272023 | 10-Q 10/1/2023 |
| 6302023 | 7312023 | 10-Q 7/2/2023 |
| 3312023 | 4282023 | 10-Q 4/2/2023 |
| 12312022 | 2162023 | 10-K 1/1/2023 |
| 9302022 | 10272022 | 10-Q 10/2/2022 |
| 6302022 | 7292022 | 10-Q 7/3/2022 |
| 3312022 | 4292022 | 10-Q 4/3/2022 |
| 12312021 | 2172022 | 10-K 1/2/2022 |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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