Valuation, from the filing
| Public float | $367.00B | Market value of stock held by non-affiliates, as stated on the cover page for 2025-06-29 |
|---|---|---|
| Float per share | $152.29 | Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself. |
| Float / net income | 13.7× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / revenue | 3.9× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / equity | 4.5× | A lower bound on the multiple, because affiliate holdings are excluded. |
Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-06-29, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-28 — the year that filing covered.
Valuation over time
13.7× earnings today, against a median of 22.8× across 10 years on record. Below its own history.
| Float measured | Public float | Float / net income | |
|---|---|---|---|
| 2025-06-29 | $367.00B | 13.7× | |
| 2024-06-30 | $352.00B | 25.0× | |
| 2023-07-02 | $430.00B | 12.2× | |
| 2022-07-03 | $472.00B | 26.3× | |
| 2021-07-04 | $445.00B | 21.3× | |
| 2020-06-28 | $363.00B | 24.7× | |
| 2019-06-30 | $368.00B | 24.3× | |
| 2018-07-01 | $325.00B | 21.2× | |
| 2017-07-02 | $332.00B | 255.4× | |
| 2016-07-03 | $332.00B | 20.1× |
Each float is paired with the fiscal year the filing that stated it covers. Only years where the company reported positive net income appear, because a multiple against a loss is not a multiple.
How this compares in its industry
Percentile among the Pharmaceutical Preparations filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.
| Measure | Reported | Percentile | |
|---|---|---|---|
| R&D / revenue | 0.1% | 0th | |
| SBC / revenue | 1.4% | 9th | |
| Net margin | 28.5% | 90th | |
| FCF margin | 20.9% | 89th | |
| Current ratio | 1.03x | 16th | |
| CapEx / revenue | 5.1% | 67th | |
| Gross margin | 67.9% | 44th | |
| Long-term debt / equity | 0.48x | 46th | |
| Effective tax rate | 17.7% | 53th | |
| Revenue YoY growth | 6.0% | 53th |
JOHNSON & JOHNSON (JNJ) reported revenue of $99.34B and net income of $16.10B for the fiscal year ended 2026-09-27. This page shows 1 annual period of income statement, balance sheet and cash flow figures normalized from JOHNSON & JOHNSON’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Pharmaceutical Preparations.
Income
| Metric | 2026-09-27 |
|---|---|
| Revenue | $99.34B |
| Cost of revenue | $32.22B |
| Gross profit | $67.11B |
| Operating income | Unavailable |
| Net income | $16.10B |
| Research & development | Unavailable |
| Weighted-average diluted shares | Unavailable |
| Pretax income | $17.74B |
| Income tax expense | $1.64B |
| Diluted EPS | Unavailable |
| Selling, general & administrative | $25.50B |
| General & administrative | Unavailable |
| Selling & marketing | Unavailable |
Balance
| Metric | 2026-09-27 |
|---|---|
| Cash & equivalents | $16.91B |
| Total assets | $197.42B |
| Current assets | $56.35B |
| Total liabilities | $115.90B |
| Current liabilities | $55.46B |
| Total equity incl. NCI | $81.53B |
| Temporary (mezzanine) equity | Unavailable |
| Inventory | $15.38B |
| Accounts receivable | $18.99B |
| Goodwill | $48.47B |
| Long-term debt | $35.80B |
| Accounts payable | $9.32B |
Cash flow
| Metric | 2026-09-27 |
|---|---|
| Operating cash flow | $26.16B |
| Capital expenditures | $5.57B |
| Investing cash flow | -$9.34B |
| Financing cash flow | -$18.15B |
| Net change in cash | -$1.32B |
| Stock-based compensation | $1.42B |
| Common dividends paid | $12.72B |
| Common share repurchases | $7.88B |
| Depreciation & amortization | $8.09B |
Derived
| Metric | 2026-09-27 |
|---|---|
| Free cash flow | $20.59B |
| Gross margin | 67.6% |
| Operating margin | Unavailable |
| FCF margin | 20.7% |
| SBC / revenue | 1.4% |
| Current ratio | 1.02x |
| Revenue YoY growth | 7.8% |
| Net margin | 16.2% |
| R&D / revenue | Unavailable |
| CapEx / revenue | 5.6% |
| Long-term debt / equity | 0.44x |
| Effective tax rate | 9.3% |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open JNJ in the interactive workspace to inspect any figure back to its filing.
Source filings
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.