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Earnings transcript
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JNJ
Johnson & Johnson
$255.56
2.28
(0.9%)
| Exchange: | NYSE |
| Market Cap: | 615.874B |
| Shares Outstanding: | 2.922B |
Delayed data
About The Company
| Sector: | HealthcareView sector performance | |||||
| Industry: | Drug Manufacturers – GeneralView industry performance | |||||
| CEO: | Joaquin Duato | |||||
| Full Time Employees: | 141700 | |||||
| Address: |
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| Website: | https://www.jnj.com |
Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension. The MedTech segment includes a portfolio of products used in interventional solutions, orthopaedics, surgery, and vision categories. The company was founded by Robert Wood Johnson I, James Wood Johnson, and Edward Mead Johnson Sr. in 1887 and is headquartered in New Brunswick, NJ.
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Revenue Segmentation
JNJ full analysis
Hey everyone, welcome back to MarketSnap. Johnson & Johnson just posted a beat-and-raise quarter, and the stock got hammered anyway — down almost six percent, its worst day in over a year. So here's the question that actually matters: is that drop a gift, or is the market finally waking up to something the headline numbers are hiding? We're going to strip this thing down — the revenue mix, the talc charge, the MedTech problem, and then run it through…
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 85,159,000 | 88,821,000 | 94,193,000 |
| Gross Profit | 58,606,000 | 61,350,000 | 63,937,000 |
| EBITDA | 23,320,000 | 24,781,000 | 41,055,000 |
| Operating Income | 23,409,000 | 22,149,000 | 25,596,000 |
| Net Income | 35,153,000 | 14,066,000 | 26,804,000 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 167,558,000 | 180,104,000 | 17,500 |
| Total Liabilities | 98,784,000 | 108,614,000 | 3,000 |
| Total Stockholders Equity | 68,774,000 | 71,490,000 | 14,500 |
| Total Debt | 29,332,000 | 36,634,000 | 0 |
| Cash and Cash Equivalents | 21,859,000 | 24,105,000 | 200 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 22,791,000 | 24,266,000 | 24,530,000 |
| Capital Expenditure | -4,543,000 | -4,424,000 | -4,832,000 |
| Free Cash Flow | 18,248,000 | 19,842,000 | 19,698,000 |
| Net Income | 13,326,000 | 14,066,000 | 26,804,000 |
| Net Change in Cash | 7,732,000 | 2,246,000 | 0 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2030 | Research Access | Research Access | Research Access | Research Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 133,827,048.018 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (High) | 137,202,237.452 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (Avg) | 135,414,571.429 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Low) | 53,489,400.815 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (High) | 55,006,515.419 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Avg) | 54,202,979.241 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Low) | 42,348,013.235 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (High) | 43,741,444.194 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Avg) | 43,003,416.767 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Low) | 33,282,041.456 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (High) | 34,121,432.270 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Avg) | 33,676,849.687 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Avg) | 17.700 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (High) | 18.010 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Low) | 17.430 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated Revenue) | 14 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated EPS) | 2 | Research Access | Research Access | Research Access | Research Access |
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Current Key Metrics
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Login — it's freeSWOT Analysis
Strengths (preview)
- Robust Innovative Medicine growth offsets patent cliffs: Q3 2026 revenue grew 6% year-over-year to $25.4bn, led by oncology up 17% and immunology returning to growth despite Stelara losing exclusivity. The Innovative Medicine segment generated $60.4bn in FY2025 revenue (64% of total), demonstrating scale and resilience in absorbing patent expirations.
- Beat-and-raise quarter with upward guidance revision: JNJ beat adjusted profit estimates and raised its full-year 2026 sales and earnings outlook, citing strong pharmaceutical momentum. FY2025 net income reached $26.8bn with EPS of $11.03, and free cash flow remained robust at $19.7bn, supporting dividend commitments ($12.4bn paid in FY2025).
- Low beta and defensive characteristics: Beta of 0.235 and dividend yield of 2.02% position JNJ as a low-volatility holding. The 1-year performance of +33.04% significantly outpaced the industry (+7.25%) and sector (+1.27%), reflecting defensive appeal amid healthcare sector weakness.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MarketSnap estimates JNJ intrinsic value between $243.65 – $254.58 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
Common questions about JNJ valuation
Is Johnson & Johnson (JNJ) overvalued or undervalued right now?
MarketSnap estimates intrinsic value for Johnson & Johnson (JNJ) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is JNJ a buy, hold, or sell for long-term investors?
MarketSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether JNJ trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is JNJ’s P/E ratio?
You can see JNJ’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for JNJ?
MarketSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MarketSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is JNJ a good long-term investment?
Whether JNJ fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MarketSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
JNJ
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Daily snapshot
0.9
Trading Metrics:
| Open: | 254.62 | Previous Close: | 253.28 | |
| Day Low: | 254 | Day High: | 257.55 | |
| Year Low: | 184.66 | Year High: | 281.07 | |
| Price Avg 50: | 265.26 | Price Avg 200: | 243.87 | |
| Volume: | 6.389M | Average Volume: | 7.614M |
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