Johnson & Johnson (JNJ)

NYSE: JNJ · USD

$271

+2.45 (+0.9%)· Recorded snapshot

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StockMarketAgent Research · Analyzed 2026-09-21

Our latest published analysis: JNJ rated Buy

Johnson & Johnson's published Buy conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$346 / share

Potential value

$530 / share

Upside to FV

+28.0%

from $271

Moat

9/10

Wide

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$650.6B
Revenue (ttm)	99.3B
Net income (ttm)	16.1B
EPS (ttm)	$6.58
Shares out	2.4B
P/E (trailing)	41.2x
P/E (forward)	21.1x
Dividend	$5.36 (1.98%)
Volume	4,879,063
Beta	0.21

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 99.3B
Net income (ttm): 16.1B
EPS (ttm): $6.58
P/E (trailing): 41.2x
P/E (forward): 21.1x
Market cap: $650.6B

Item	P1	P2	P3	P4	P5	Trend
Period	2022-01-02	2023-01-01	2023-12-31	2024-12-29	2025-12-28	Trend
Revenue	$78.74B	$79.99B	$85.16B	$88.82B	$94.19B	+4.6%
Gross profit	$55.34B	$55.39B	$58.61B	$61.35B	$63.94B	+3.7%
Operating income	$19.36B	$19.64B	$21.85B	$17.44B	$33.55B	+14.7%
Net income	$20.88B	$17.94B	$35.15B	$14.07B	$26.80B	+6.4%
EPS (diluted)	$7.81	$6.73	$13.72	$5.79	$11.03	+9.0%
EBITDA	$26.75B	$26.61B	$29.34B	$24.78B	$41.06B	+11.3%
R&D	$0	$0	$483.0M	$1.84B	$109.0M	—
SG&A	$20.12B	$20.25B	$21.51B	$22.87B	$23.68B	+4.2%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
AAPL	Apple Inc.	5T	39.4x	10.8x	101.6%	+6.1%	+28.5%	売り
ABNB	Airbnb, Inc.	97.8B	37.5x	7.4x	16.8%	+24.4%	+28.5%	売り
ADBE	Adobe Inc.	97.1B	13.9x	3.7x	57.2%	+11.5%	-30.7%	強い買い
ABBV	AbbVie Inc.	505.6B	80.8x	7.9x	17.7%	+3.7%	+29.1%	売り
ABT	Abbott Laboratories	177.6B	38.2x	3.7x	7.2%	+2.7%	-17.2%	縮小
ALGN	Align Technology Inc.	10.9B	26.6x	2.6x	17.2%	+3.6%	+11.6%	縮小

Base and Bull scenarios

Base60%

Price target

$345.55

+28.0% from spot

The Base case reflects our modal underwriting expectation, where disciplined commercial execution in Innovative Medicine balances anticipated loss-of-exclusivity patent expirations. Steady procedure growth across MedTech hospital ecosystems and stable geographic demand across Europe and Asia support steady cash flow compounding. Intrinsic value reaches Fair value $345.55, representing an upside of 28.0% from $269.99 (as of 2026-09-18) with an expected return of 28.0% at a assigned probability of 60.0%.

Consolidated revenue compounds at a mid-single-digit pace consistent with consensus expectations.
Operating margins remain durable near historical levels, balancing R&D reinvestment with cost efficiencies.
Distributor working capital dynamics remain orderly without structural fee or inventory disruptions.

Bull20%

Price target

$530.18

+96.4% from spot

The Bull case envisions accelerated biopharmaceutical commercial adoption and expanding MedTech procedure volumes. In this outcome, newly launched therapeutics capture leading market share across immunology and oncology indications, while surgical robotics platforms achieve timely regulatory clearances and hospital integration. Consolidated revenue growth outpaces baseline expectations and operating margins expand, driving the valuation target to Potential value $530.18 with an implied return of 96.4% at an estimated likelihood of 20.0%.

Therapeutic pipeline commercialization accelerates with novel agents capturing expanding shares of newly initiated patients.
MedTech procedure volume growth accelerates with commercialization of surgical robotics platforms.
Consolidated operating margins expand as operating leverage absorbs commercial launch expenditures.

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($345.55). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	2.0%	2.5%	3.0%	3.5%	4.0%
5.3%	$468	$524	$624	$904	$778
6.3%	$372	$397	$430	$481	$571
7.3%	$316	$329	$346	$367	$397
8.3%	$278	$286	$296	$307	$322
9.3%	$251	$256	$262	$269	$277

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E21.1

P25 n/aP50 n/aP75 n/a

Trailing P/E31.4

P25 n/aP50 n/aP75 n/a

ROE20

P25 n/aP50 n/aP75 n/a

ROIC21.6

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All JNJ indicators

Market & fundamental data

Available fields

295

Groups with data

Currency

USD

Showing 295 of 295 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0000200406
Company name	Johnson & Johnson
Country	United States
Country code	US
CUSIP number	478160104
Earnings date	2026-10-13
Earnings time	bmo
Employees	138,200
Employees change	100
Employees growth	0.07%
Enterprise value	$680.2B
Exchange	NYSE
Financial currency	USD
Financial report date	2026-09-27
First seen	2026-05-09
Fiscal year end	December
Founded	1886
In index	SP500, DOW30
Industry	Drug Manufacturers - General
IPO date	1944-09-24
Is primary listing	Yes
Is SPAC	No
ISIN number	US4781601046
Last 10-K release date	2026-02-11
Last earnings date	2026-10-13
Last refreshed	2026-10-28
Last stock split date	2001-06-13
Last stock split type	Forward
Market cap	$652.8B
Market cap category	Mega-Cap
Next earnings date	2027-01-20
Options	Yes
Price	$271.17
Price currency	USD
Sector	Healthcare
SIC code	2834
Stock price date	2026-10-28
Symbol	JNJ
Tags	pharmaceuticals
U.S. state	New Jersey
Website	https://www.jnj.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	25.46x
Average P/E ratio (10Y)	46.5x
Average P/E ratio (3Y)	20.72x
Average P/E ratio (5Y)	22.21x
Earnings yield	2.43%
EV/Earnings	42.03x
EV/EBIT	25.61x
EV/EBITDA	19.61x
EV/FCF	32.85x
EV/Sales	6.81x
FCF / EV yield	3.04%
FCF yield	3.17%
Forward EV/Sales	6.4x
Forward P/E	24.38x
Forward P/S	6.14x
Graham number	70.83724
Graham upside	-73.73%
Industry forward P/E	18.47x
Industry P/E	35.8x
Lynch fair value	$32.92
Lynch upside	-87.79%
P/(FCF - SBC) ratio	33.87x
P/(OCF - SBC) ratio	26.24x
P/B ratio	7.93x
P/E ratio	41.18x
P/FCF ratio	31.52x
P/OCF ratio	24.81x
P/S ratio	6.53x
PEG ratio	3.28x
Price/EBITDA ratio	18.81x
Sector forward P/E	23.56x
Sector P/E	50.13x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	26.59%
EBITDA margin	34.73%
Effective tax rate	9.26%
FCF margin	20.73%
Gross margin	67.77%
Operating margin	26.59%
Pretax margin	17.86%
Profit margin	16.2%
Profit per employee	$116,462
Profitable quarters	14
Profitable years	35
Revenue per employee	$718,777
ROA	8.46%
ROA (5Y)	8.04%
ROCE	18.6%
ROE	20.02%
ROE (5Y)	24.21%
ROIC	21.57%
ROIC (5Y)	23.67%
SBC / revenue	1.43%
Tax / revenue	1.65%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	-36.37%
EPS growth (Q)	-95.89%
EPS growth (QoQ)	-96.16%
EPS growth 10Y	1.46%
EPS growth 3Y	-20.75%
EPS growth 5Y	-0.32%
EPS growth years	1
FCF growth	5.07%
FCF growth (Q)	-20.64%
FCF growth (QoQ)	-12.84%
FCF growth 3Y	9.37%
FCF growth 5Y	-1.72%
Gross profit growth	6.88%
Gross profit growth (Q)	3.56%
Gross profit growth 3Y	5.04%
Gross profit growth 5Y	1.75%
Net income growth	-35.93%
Net income growth (Q)	-95.92%
Net income growth (QoQ)	-96.21%
Net income growth 3Y	-22.54%
Net income growth 5Y	-2.08%
Net income growth years	1
OCF growth	8.08%
OCF growth (Q)	-15.8%
OCF growth (QoQ)	-10.4%
OCF growth 10Y	4.28%
OCF growth 3Y	8.86%
OCF growth 5Y	0.11%
Operating income growth	7.65%
Operating income growth (Q)	-9.78%
Operating income growth 3Y	3.06%
Operating income growth 5Y	1.65%
Revenue growth	7.8%
Revenue growth (Q)	5.86%
Revenue growth (QoQ)	0.35%
Revenue growth 10Y	3.33%
Revenue growth 3Y	5.87%
Revenue growth 5Y	1.67%
Revenue growth quarters	13
Revenue growth years	4

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-5.6B
Depreciation and amortization	$8.1B
EBIT	$26.4B
EBITDA	$34.5B
EPS	$6.58
FCF per share	$8.55
Financing cash flow	$-18.1B
Free cash flow	$20.6B
Free cash flow minus SBC	$19.2B
Gross profit	$67.3B
Income taxes	$1.6B
Investing cash flow	$-9.3B
Net borrowing	$-787M
Net cash flow	$-1.3B
Net income	$16.1B
Operating cash flow minus SBC	$24.7B
Operating income	$26.4B
Revenue	$99.3B
Stock-based compensation	$1.4B

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	5.03
Book value per share	$33.87
Debt / EBITDA	1.29
Debt / equity	0.55
Debt / FCF	2.17
Goodwill	$48.5B
Interest coverage	26.84
Long-term assets	$141.1B
Long-term liabilities	$60.4B
Net cash (debt)	$-27.4B
Net cash / market cap	-4.23%
Net debt / EBITDA	0.79
Net debt / equity	0.34
Net debt / FCF	1.33
Piotroski F-Score	6
Property, plant and equipment	$24.1B
Shareholders' equity	$81.5B
Tangible book value	$-13.6B
Tangible book value per share	$-5.65
Total assets	$197.4B
Total cash	$17.2B
Total debt	$44.7B
Total liabilities	$115.9B
WACC	5.17%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.51
Current assets	$56.4B
Current liabilities	$55.5B
Current ratio	1.02
Inventory turnover	2.17
Net working capital	$-7.5B
Quick ratio	0.65
Working capital	$894M
Working capital turnover	42.85

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	-0.8%
Dividend growth	3.5%
Dividend growth (10Y)	5.38%
Dividend growth (3Y)	4.22%
Dividend growth (5Y)	4.89%
Dividend growth years	64
Dividend payment date	2026-12-08
Dividend payment years	64
Dividend payout frequency	Quarterly
Dividend per share	$5.36
Dividend yield	1.98%
Ex-dividend date	2026-11-24
FCF payout ratio	62.67%
Last dividend	$1.34
Payout ratio	81.4%
Shareholder yield	1.19%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	134.81%
10Y return CAGR	11.92%
10Y total return	208.19%
150-day SMA	$249.89
15Y price change	314.78%
15Y return CAGR	13.11%
15Y total return	534.41%
1D price change	0.91%
1M price change	0.17%
1M total return	0.17%
1W price change	4.75%
1W total return	4.75%
1Y price change	42.76%
1Y return CAGR	46.02%
1Y total return	45.98%
20-day SMA	$259.15
200-day SMA	$246.41
20Y price change	298.53%
20Y return CAGR	10.3%
20Y total return	610.65%
3M price change	2.16%
3M total return	2.66%
3Y price change	86.59%
3Y return CAGR	26.65%
3Y total return	103.2%
50-day SMA	$265.46
50-day SMA vs 200-day SMA	50over200
52-week high	$281.07
52-week high date	2026-09-02
52-week low	$184.66
52-week low date	2025-10-29
5Y price change	65.92%
5Y return CAGR	13.79%
5Y total return	90.79%
6M price change	20.56%
6M total return	21.86%
After-hours change	-0.06%
After-hours close	$271.17
After-hours price	$271.01
All-time high	$281.07
All-time high date	2026-09-02
All-time low	$0.52
All-time low date	1968-03-14
Average true range (ATR)	$6.51
Average volume	7.5M
Beta (1Y)	-0.44
Beta (2Y)	-0.01
Beta (5Y)	0.21
Change from 52-week high	-3.52%
Change from 52-week low	46.85%
Change from all-time high	-3.34%
Change from all-time low	52,236.74%
Change from open	2.17%
Day's gap	-1.23%
Dollar volume	$1.3B
High price	$272.75
Low price	$264.50
Monthly RSI	76.28
Open price	$265.42
Position in 52-week range	80.85%
Premarket change	-1.18%
Premarket close	$268.73
Premarket price	$265.57
Premarket volume	167.5K
Previous close	$268.73
Price vs 150-day SMA	8.72%
Price vs 20-day SMA	4.84%
Price vs 200-day SMA	10.26%
Price vs 50-day SMA	2.34%
Relative volume	0.65
RSI	60.09
Sharpe ratio	1.74
Sharpe ratio (3Y)	1.08
Sharpe ratio (5Y)	0.59
Sortino ratio	2.97
Sortino ratio (3Y)	1.93
Sortino ratio (5Y)	1.2
Volume	4.9M
Weekly RSI	61.01
YTD price change	31.28%
YTD total return	33.39%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	2.4B
Float percentage	99.84%
Shares change (QoQ)	0.35%
Shares change (YoY)	0.8%
Shares held by insiders	0.04%
Shares held by institutions	76.32%
Shares outstanding	2.4B
Short % of float	0.92%
Short % of shares	0.92%
Short ratio	3.5 days

Other indicators

Additional ticker metrics that do not fit the primary research groupings.

Metric	Value
Page views	422

Deeper analysis on JNJ

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this JNJ report

What is the latest published JNJ stock rating?

Johnson & Johnson is shown with Buy in the latest published report, analyzed 2026-09-21. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full JNJ analysis?

The full latest published report, analyzed 2026-09-21, lives at /stocks/JNJ/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for JNJ?

The latest published report analyzed 2026-09-21 gives JNJ a fair value of USD 346 and a potential value of USD 530. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the JNJ page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-09-21). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

BuyJNJ · Fair value $346+28.0%

Read full analysis →

Johnson & Johnson (JNJ)

Our latest published analysis: JNJ rated Buy

Price

Financial snapshot

Fair-value bridge

Latest news · JNJ

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All JNJ indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Other indicators

Deeper analysis on JNJ

Frequently asked questions

レーティング履歴

Category	Score	Reading
Valuation	7.5
Management	8.5
Balance Sheet	6.0
Profitability	7.5
Revenue Growth	6.0
Risk Assessment	7.5
Competitive Moat	9.0
Earnings Quality	6.0
Capital Efficiency	7.5