olivLaw · US equity research
Johnson & Johnson JNJ
Pharmaceutical Preparations · SIC 2834 · Vertical: Pharmaceutical Preparations (SIC 2834)
Johnson & Johnson is a healthcare group with two segments, Innovative Medicine and MedTech, aiming for long-term growth through new products in oncology and immunology. Worldwide sales reached 94.2 billion USD in 2025, and the company raised its 2026 guidance.
At the close of 04 Nov 2026, Johnson & Johnson (JNJ) stock was 276.32 USD (+3.81% on the day), with market capitalisation 665.2 bn USD, P/E 41.9 on diluted EPS of 6.59 USD over the last 12 months, dividend yield 1.91%, beta -0.02, 52-week range 186.00–278.43 USD. Latest reported quarter (Q3 2026): revenue of 25.4 bn USD (+5.9% YoY), net income of 210.0 m USD (−95.9% YoY), diluted EPS 0.09 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 60.7
- strong (55–70)
- Bollinger (20, 2)
- 247.41 – 278.88
- in the upper half of the band · %B 0.92 · band width 12.0%
- SMA 50 / 200
- 265.53 / 247.77
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 2.76 / 1.24
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +9.2% | −1.1% | +10.3 pp | — |
| 3 months | +7.3% | −0.5% | +7.7 pp | — |
| 6 months | +23.0% | +4.4% | +18.6 pp | — |
| Year to date | +33.5% | +12.3% | +21.2 pp | — |
| 1 year | +47.9% | +13.5% | +34.3 pp | +28.1% |
| 3 years | +82.6% | +76.4% | +6.2 pp | +50.7% |
| 5 years | +69.1% | +63.7% | +5.4 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 27 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 22.5 bn | 21.9 bn | 23.7 bn | 24.0 bn | 24.6 bn | 24.1 bn | 25.3 bn | 25.4 bn |
| Cost of revenue | 7.1 bn | 7.4 bn | 7.6 bn | 7.3 bn | 8.0 bn | 8.1 bn | 8.1 bn | 8.1 bn |
| Gross profit | 15.4 bn | 14.5 bn | 16.1 bn | 16.7 bn | 16.6 bn | 16.0 bn | 17.3 bn | 17.3 bn |
| SG&A | 6.5 bn | 5.1 bn | 5.9 bn | 5.9 bn | 6.8 bn | 6.0 bn | 6.4 bn | 6.3 bn |
| Depreciation & amortisation | 1.9 bn | 1.8 bn | 1.9 bn ≈ | 1.8 bn ≈ | 2.0 bn | 2.0 bn | 2.0 bn ≈ | 2.1 bn ≈ |
| Interest expense | 137.0 m | 204.0 m | 308.0 m | 245.0 m | 214.0 m | 272.0 m | 281.0 m | 217.0 m |
| Pre-tax income | 3.9 bn | 13.6 bn | 6.5 bn | 7.5 bn | 5.0 bn | 6.0 bn | 6.7 bn | 34.0 m |
| Income tax | 456.0 m | 2.6 bn | 954.0 m | 2.3 bn | -150.0 m | 755.0 m | 1.2 bn | -176.0 m |
| Net income | 3.4 bn | 11.0 bn | 5.5 bn | 5.2 bn | 5.1 bn | 5.2 bn | 5.5 bn | 210.0 m |
| Diluted EPS | 1.41 ≈ | 4.54 | 2.29 | 2.12 | 2.09 ≈ | 2.14 | 2.27 | 0.09 |
| Operating cash flow | 7.0 bn | 4.2 bn | 3.9 bn ≈ | 9.2 bn ≈ | 7.3 bn | 2.5 bn | 8.6 bn ≈ | 7.7 bn ≈ |
| Capex | 1.6 bn | 795.0 m | 1.0 bn ≈ | 1.2 bn ≈ | 1.8 bn | 1.0 bn | 1.3 bn ≈ | 1.4 bn ≈ |
| Dividends paid | 3.0 bn | 3.0 bn | 3.1 bn ≈ | 3.1 bn ≈ | 3.1 bn | 3.1 bn | 3.2 bn ≈ | 3.2 bn ≈ |
| Share repurchases | 282.0 m | 2.1 bn | 0 ≈ | 1.9 bn ≈ | 1.9 bn | 4.0 bn | 221.0 m ≈ | 1.7 bn ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 88 percentile of its own 33-quarter history (min 9.6, median 24.7, max 358.3; quarters with earnings only).
Fiscal years
| Fiscal year | 2017 | 2018 | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 76.5 bn | 81.6 bn | 82.1 bn | 82.6 bn | 78.7 bn | 85.2 bn | 88.8 bn | 94.2 bn |
| Revenue YoY | +9.1% | +6.7% | +0.6% | unavailable | −4.7% | +8.2% | +4.3% | +6.0% |
| Net income | 1.3 bn | 15.3 bn | 15.1 bn | 14.7 bn | 20.9 bn | 35.2 bn | 14.1 bn | 26.8 bn |
| Net income YoY | −91.6% | +1,076.7% | −1.2% | unavailable | +41.9% | +68.4% | −60.0% | +90.6% |
| Diluted EPS | 0.47 | 5.61 | 5.63 | 5.51 | 7.81 | 13.72 | 5.79 | 11.03 |
| Diluted EPS YoY | −91.4% | +1,093.6% | +0.4% | unavailable | +41.7% | +75.7% | −57.8% | +90.5% |
| net % | 1.7% | 18.8% | 18.4% | 17.8% | 26.5% | 41.3% | 15.8% | 28.5% |
| Free cash flow | 17.8 bn | 18.5 bn | 19.9 bn | 20.2 bn | 19.8 bn | 18.2 bn | 19.8 bn | 19.7 bn |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 28 Dec 2025
- Cash
- 19.7 bn USD
- Financial debt
- 47.9 bn USD
- Net debt
- 28.2 bn USD
- Equity
- 81.5 bn USD
- Total assets
- 199.2 bn USD
- Debt / equity
- 0.59x
- Current ratio
- 1.03x
- ROE
- 35.0%
- ROA
- 14.1%
- FCF margin
- 20.9%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 82.1 bn | 82.6 bn | 78.7 bn | 85.2 bn | 88.8 bn | 94.2 bn | SEC (XBRL)· 11 Feb 2026verified |
| Cost of revenue | 27.6 bn | 28.4 bn | 23.4 bn | 26.6 bn | 27.5 bn | 30.3 bn | SEC (XBRL)· 11 Feb 2026verified |
| Gross profit | 54.5 bn | 54.2 bn | 55.3 bn | 58.6 bn | 61.4 bn | 63.9 bn | SEC (XBRL)· 11 Feb 2026verified |
| Research & development | — | — | 0 | 483.0 m | 1.8 bn | 109.0 m | SEC (XBRL)· 11 Feb 2026verified |
| SG&A | 22.2 bn | 22.1 bn | 20.1 bn | 21.5 bn | 22.9 bn | 23.7 bn | SEC (XBRL)· 11 Feb 2026verified |
| Depreciation & amortisation | 7.0 bn | 7.2 bn | 7.4 bn | 7.5 bn | 7.3 bn | 7.5 bn | SEC (XBRL)· 11 Feb 2026verified |
| Interest expense | 318.0 m | 201.0 m | 183.0 m | 772.0 m | 755.0 m | 971.0 m | SEC (XBRL)· 11 Feb 2026verified |
| Pre-tax income | 17.3 bn | 16.5 bn | 19.2 bn | 15.1 bn | 16.7 bn | 32.6 bn | SEC (XBRL)· 11 Feb 2026verified |
| Income tax | 2.2 bn | 1.8 bn | 1.4 bn | 1.7 bn | 2.6 bn | 5.8 bn | SEC (XBRL)· 11 Feb 2026verified |
| Net income | 15.1 bn | 14.7 bn | 20.9 bn | 35.2 bn | 14.1 bn | 26.8 bn | SEC (XBRL)· 11 Feb 2026verified |
| Diluted EPS | 5.63 | 5.51 | 7.81 | 13.72 | 5.79 | 11.03 | SEC (XBRL)· 11 Feb 2026verified |
| Weighted average diluted shares | 2.7 bn | 2.7 bn | 2.7 bn | 2.6 bn | 2.4 bn | 2.4 bn | SEC (XBRL)· 11 Feb 2026verified |
| Dividend per share | 3.75 | 3.98 | 4.19 | 4.70 | 4.91 | 5.14 | SEC (XBRL)· 11 Feb 2026verified |
Balance sheet · USD
| Line | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 17.3 bn | 14.0 bn | 14.5 bn | 21.9 bn | 24.1 bn | 19.7 bn | SEC (XBRL)· 11 Feb 2026verified |
| Receivables | 14.5 bn | 13.6 bn | 15.3 bn | 14.9 bn | 14.8 bn | 17.2 bn | SEC (XBRL)· 11 Feb 2026verified |
| Inventories | 9.0 bn | 9.3 bn | 10.4 bn | 11.2 bn | 12.4 bn | 14.2 bn | SEC (XBRL)· 11 Feb 2026verified |
| Current assets | 45.3 bn | 51.2 bn | 61.0 bn | 53.5 bn | 55.9 bn | 55.6 bn | SEC (XBRL)· 11 Feb 2026verified |
| Property, plant & equipment, net | 17.7 bn | 18.8 bn | 19.0 bn | 19.9 bn | 20.5 bn | 23.2 bn | SEC (XBRL)· 11 Feb 2026verified |
| Goodwill | 33.6 bn | 36.4 bn | 25.4 bn | 36.6 bn | 44.2 bn | 48.8 bn | SEC (XBRL)· 11 Feb 2026verified |
| Intangibles (excl. goodwill) | 47.6 bn | 53.4 bn | 46.4 bn | 34.2 bn | 37.6 bn | 50.4 bn | SEC (XBRL)· 11 Feb 2026verified |
| Total assets | 157.7 bn | 174.9 bn | 182.0 bn | 167.6 bn | 180.1 bn | 199.2 bn | SEC (XBRL)· 11 Feb 2026verified |
| Accounts payable | 8.5 bn | 9.5 bn | 11.1 bn | 9.6 bn | 10.3 bn | 12.0 bn | SEC (XBRL)· 11 Feb 2026verified |
| Short-term debt | 1.2 bn | 2.6 bn | 3.8 bn | 3.5 bn | 6.0 bn | 8.5 bn | SEC (XBRL)· 11 Feb 2026verified |
| Long-term debt | 26.5 bn | 32.6 bn | 30.0 bn | 25.9 bn | 30.7 bn | 39.4 bn | SEC (XBRL)· 11 Feb 2026verified |
| Current liabilities | 36.0 bn | 42.5 bn | 45.2 bn | 46.3 bn | 50.3 bn | 54.1 bn | SEC (XBRL)· 11 Feb 2026verified |
| Total liabilities | 98.3 bn | 111.6 bn | 108.0 bn | 98.8 bn | 108.6 bn | 117.7 bn | SEC (XBRL)· 11 Feb 2026verified |
| Equity | 59.5 bn | 63.3 bn | 74.0 bn | 68.8 bn | 71.5 bn | 81.5 bn | SEC (XBRL)· 11 Feb 2026verified |
Cash flow · USD
| Line | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 23.4 bn | 23.5 bn | 23.4 bn | 22.8 bn | 24.3 bn | 24.5 bn | SEC (XBRL)· 11 Feb 2026verified |
| Capex | 3.5 bn | 3.3 bn | 3.7 bn | 4.5 bn | 4.4 bn | 4.8 bn | SEC (XBRL)· 11 Feb 2026verified |
| Free cash flow | 19.9 bn ≈ | 20.2 bn ≈ | 19.8 bn ≈ | 18.2 bn ≈ | 19.8 bn ≈ | 19.7 bn ≈ | SEC (XBRL)· 11 Feb 2026derived |
| Investing cash flow | -6.2 bn | -20.8 bn | -8.7 bn | 878.0 m | -18.6 bn | -23.6 bn | SEC (XBRL)· 11 Feb 2026verified |
| Financing cash flow | -18.0 bn | -6.1 bn | -14.0 bn | -15.8 bn | -3.1 bn | -5.5 bn | SEC (XBRL)· 11 Feb 2026verified |
| Dividends paid | 9.9 bn | 10.5 bn | 11.0 bn | 11.8 bn | 11.8 bn | 12.4 bn | SEC (XBRL)· 11 Feb 2026verified |
| Share repurchases | 6.7 bn | 3.2 bn | 3.5 bn | 5.1 bn | 2.4 bn | 6.0 bn | SEC (XBRL)· 11 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 63 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 665.2 bn USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet18
- Valuation59
- Quality81
- Growth66
- Returns60
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 67.54 – 303.47 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)113.71 – 181.81 (Mid 140.03)WACC 9.1% · starting FCFF 21.5 bn USD · terminal value share of EV 74%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: starting growth implied by the price (fading linearly to terminal growth, everything else fixed): 37.6%
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/E283.36 – 303.47 (Mid 289.23)5 companies used · median multiple 43.9x · quartiles 43.0x – 46.0xABBV, ABT, LLY, PFE, VRTX
- Dividend discount (DDM)67.54 – 90.84 (Mid 77.48)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 63/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 16.2% | 63 (vs peers) | 10% |
| FCF conversion · Quality | 127.9% | 100 (on a fixed band) | 10% |
| Revenue CAGR 3Y · Growth | 6.2% | 51 (on a fixed band) | 13% |
| EPS CAGR 3Y · Growth | 12.2% | 81 (on a fixed band) | 13% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 1.0x | 18 (on a fixed band) | 7% |
| P/E (TTM) · Valuation | 41.9x | 75 (vs peers) | 17% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 3.1% | 39 (on a fixed band) | 13% |
| Shareholder yield (distributions) · Returns | 3.1% | 44 (on a fixed band) | 10% |
| Payout ratio (FCF) · Returns | 61.8% | 83 (on a fixed band) | 7% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial18/100 · 1/3 factors with a value
- Growth66/100 · 2/2 factors with a value
- Quality81/100 · 2/3 factors with a value
- Returns60/100 · 2/2 factors with a value
- Valuation59/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Johnson & Johnson (JNJ). Latest full fiscal year: 2025; data up to 2026-09-27.
Figures computed from the financial statements: revenue 94.2 bn USD in 2025; YoY growth 6.0%; net margin 16.2%; ROE 20.0%.
The estimated value range is 113.71–181.81 USD per share (median of 3 methods, agreement: low); assumptions are illustrative. Against the central value of 140.03 USD, the price of 276.32 USD leaves a potential of -49.3% (value / price − 1) and a margin of safety of -97.3% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 63/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: balance. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF conversion: 127.9%
- EPS CAGR 3Y: 12.2%
- P/E (TTM): 41.9x
- Payout ratio (FCF): 61.8%
What contradicts it
- Current ratio: 1.0x
- The price is above the estimated value range
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): ROIC, Net debt / EBITDA, Interest coverage, EV/EBITDA.
Versus the vertical median
Pharmaceutical Preparations (SIC 2834) · same industry (4-digit SIC) · compared with 8 companies
Only companies with a capitalisation between 80.5 bn and 5,153.8 bn (within 8× of the company's); 367 of the vertical were left out.
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| LLYEli Lilly And Company | 1,334.0 bn | 46.0 | 86.1% | 31.9% | +44.7% | +32% / +140% |
| JNJJohnson & Johnson | 665.2 bn | 41.9 | 20.0% | 16.2% | +6.0% | +48% / +83% |
| ONCBeone Medicines Ltd. | 558.4 bn | 869.9 | 14.7% | 10.7% | +40.2% | +11% / +102% |
| ABBVAbbVie Inc. | 521.1 bn | 50.7 | — | 15.7% | +8.6% | +29% / +107% |
| MRKMerck & Co., Inc. | 370.7 bn | 154.7 | 5.1% | 3.6% | +1.3% | +43% / +47% |
| ABTAbbott Laboratories | 200.1 bn | 43.0 | 9.2% | 9.7% | +5.7% | −10% / +11% |
| PFEPfizer Inc | 175.5 bn | 43.9 | 4.4% | 6.3% | −1.6% | +20% / +1% |
| VRTXVertex Pharmaceuticals Inc | 139.2 bn | 35.3 | 20.8% | 30.7% | +8.9% | +27% / +55% |
| BMYBristol-Myers Squibb Company | 131.2 bn | 14.2 | 44.1% | 18.5% | −0.2% | +30% / +30% |
1- and 3-year price returns: for JNJ from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 168.36 Total return -38% · Per year -38% | 297.42 Total return 10% · Per year 10% | 447.67 Total return 64% · Per year 64% |
| 3 years | 168.88 Total return -34% · Per year -13% | 335.16 Total return 28% · Per year 9% | 553.12 Total return 108% · Per year 28% |
| 5 years | 169.40 Total return -31% · Per year -7% | 377.68 Total return 48% · Per year 8% | 683.41 Total return 163% · Per year 21% |
- Exit P/E± 83.79
- Net margin± 58.65
- Annual revenue growth± 47.39
- Annual dilution± 4.93
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Johnson & Johnson is a healthcare group with two segments, Innovative Medicine and MedTech, aiming for long-term growth through new products in oncology and immunology. Worldwide sales reached 94.2 billion USD in 2025 1, and the company raised its 2026 guidance 3.
SWOT
Strengths
- The company has a diversified portfolio in pharmaceuticals and medical technology, with operations across virtually all countries 1.
- Heavy research investment and a broad patent base support the launch of new products 1.
- Rapid growth in oncology products has partly offset declines in mature products 12.
Weaknesses
- Reliance on a few large products, such as DARZALEX and STELARA, makes revenue sensitive to developments affecting them 1.
- The company faces numerous lawsuits, including talc-based powder claims, which can result in significant expenses 13.
- The company does not buy third-party product liability insurance and instead uses a captive insurer subject to limits 1.
Opportunities
- Recent launches in oncology and neuroscience could open new markets if clinical adoption grows 23.
- Separating the orthopaedics business could unlock value if the new structure proves effective 1.
- Recent acquisitions and collaborations, such as Firefly Bio and Sail Biomedicines, could extend the portfolio in cell therapies 3.
Threats
- Biosimilars and generics could significantly reduce sales of mature products if they gain market share 1.
- Pricing regulation in the U.S. and Europe, including the Inflation Reduction Act, could pressure margins 1.
- Manufacturing risks, supply chain disruption and counterfeit medicines could affect sales and reputation 1.
Risks
- Talc litigationhigh
The company is a defendant in numerous lawsuits over talc-based powder, and large payments or higher accruals could affect results 13.
- Loss of product exclusivityhigh
Loss of exclusivity can lead to rapid sales declines once generics or biosimilars enter the market 1.
- Pricing pressuremedium
Reforms in the U.S. and regulation in Europe, Japan and China could limit prices and market access 1.
- Manufacturing interruptionsmedium
The company runs many manufacturing sites and relies on third-party suppliers, and interruptions could cause product shortages 1.
- Regulation and compliancemedium
Growing regulatory requirements could delay approvals and lead to penalties 1.
Investment thesis
What would need to be true (bull case)
- If new oncology and neuroscience products keep gaining share, growth could offset the decline of STELARA 12.
- Guidance for 2026 was raised, suggesting operational execution could be stronger than expected 3.
- Innovation in MedTech, including the OTTAVA robotic system, could open a new phase of growth 3.
What to watch
- Results of the fourth quarter of 2026 and final guidance for the yearQ4 2026
- Development of STELARA and SIMPONI sales under biosimilar pressure2027
- Progress and final structure of the orthopaedics business separation2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Johnson & Johnson is a holding company with about 138,200 employees, operating in virtually all countries and focused on products related to human health and well-being 1. It has two segments, Innovative Medicine, which sells prescription medicines, and MedTech, which develops devices and solutions for surgery, orthopaedics, cardiovascular and vision care 1. Research and development spending was 14.7 billion USD in 2025 1.
Segments
Innovative Medicine
The Innovative Medicine segment recorded sales of 60.4 billion USD in 2025 1, covering oncology, immunology, neuroscience, pulmonary hypertension, infectious diseases and cardiovascular care. Key products include DARZALEX, CARVYKTI, ERLEADA and TREMFYA, while STELARA declines under biosimilar competition 12.
Competitive position
- PfizerPFE
U.S. pharmaceutical company cited as a global rival across the group's product lines, according to the risk discussion in the annual report.
- Merck & Co.MRK
Innovative medicines rival referred to indirectly through the change in European distribution rights in the source document.
- Biosimilar producers
Third parties filing for biosimilars of STELARA and SIMPONI, with no U.S. ticker identified in the sources.
- Surgical and ophthalmic device makers
Firms competing in the MedTech segment, identified generically in the reference source without specific names.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Johnson & Johnson CEO Says AI Has to Be EmbracedBloomberg Markets · 06 Oct 2026 · EN
- Better Dividend King to Buy and Hold: Johnson & Johnson or Kenvue?Yahoo Finance — News · 18 Sept 2026 · EN
- Johnson & Johnson Sees Path to Double-Digit Growth Despite 2026 Patent CliffYahoo Finance — News · 17 Sept 2026 · EN
- Johnson & Johnson Targets Double-Digit Growth as STELARA Faces Biosimilar CompetitionYahoo Finance — News · 14 Sept 2026 · EN
- Johnson & Johnson Shares Rise on Reported Apollo Talks for Orthopedics UnitYahoo Finance — News · 14 Sept 2026 · EN
- Johnson & Johnson Eyes High-End MedTech Growth as Cardiovascular Takes Center StageYahoo Finance — News · 09 Sept 2026 · EN
- Which Defensive Stock Has Dominated in 2026: Coca-Cola, Johnson & Johnson, or Procter & Gamble?Yahoo Finance — News · 07 Sept 2026 · EN
- Johnson & Johnson Owns Stakes in 15 Stocks. Here's the Best of the Bunch.Yahoo Finance — News · 31 Aug 2026 · EN
- AbbVie vs. Johnson & Johnson: Which Healthcare Stock Is a Better Buy in 2026?Yahoo Finance — News · 29 Aug 2026 · EN
- Johnson & Johnson Stock: Is JNJ Outperforming the Consumer Staples Sector?Yahoo Finance — News · 29 Aug 2026 · EN
- Johnson & Johnson (JNJ) Taps Sail Biomedicines in Bid for CAR-T Edge Over Bristol Myers SquibbYahoo Finance — News · 29 Aug 2026 · EN
- Forget Nvidia. Johnson & Johnson and 2 Other AI Stocks Are Beating the Market by 29 Points.Yahoo Finance — News · 28 Aug 2026 · EN
- Johnson & Johnson (NYSE:JNJ) Has A Better Balance Sheet Than The Government, Said Jim CramerYahoo Finance — News · 28 Aug 2026 · EN
- I Think Johnson & Johnson Is the Best Dividend Stock to Buy Right NowYahoo Finance — News · 26 Aug 2026 · EN
- Johnson & Johnson Is Near a Record High. Is There Still Room to Run?Yahoo Finance — News · 25 Aug 2026 · EN
- Pfizer vs. Johnson & Johnson: Which Pharma Giant Is Better Prepared for Its Patent Cliff?Yahoo Finance — News · 24 Aug 2026 · EN
- Is Johnson & Johnson’s $5.5 Billion Talc Settlement a Buy Signal, or Is the Legal Risk Far From Over?Yahoo Finance — News · 23 Aug 2026 · EN
- Johnson & Johnson vs. Thermo Fisher: Which Healthcare Growth Story Is More Durable?Yahoo Finance — News · 23 Aug 2026 · EN
- Better Dividend King to Buy Right Now: Abbott Labs or Johnson & Johnson?Yahoo Finance — News · 23 Aug 2026 · EN
- Johnson & Johnson oferă până la 5,5 miliarde de dolari pentru a soluționa procesele privind pudra pentru bebeluși care ar cauza cancerAntena 3 CNN · 29 Jul 2026 · RO
The latest news item in our archive is from 06 Oct 2026; the newest SEC filing is from 21 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Quarterly report21 Oct 2026
- Current report13 Oct 2026Results of operations · Financial statements and exhibits
- Current report04 Aug 2026Departure or appointment of officers · Financial statements and exhibits
- Current report29 Jul 2026Regulation FD disclosure · Financial statements and exhibits
- Current report28 Jul 2026Regulation FD disclosure · Financial statements and exhibits
- Quarterly report23 Jul 2026
- Current report15 Jul 2026Results of operations · Financial statements and exhibits
- Current report28 Apr 2026Shareholder vote · Financial statements and exhibits
- Quarterly report22 Apr 2026
- Current report14 Apr 2026Results of operations · Other events · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-28 · SEC / Johnson & Johnson · 11 Feb 2026
- [2] Form 10-Q, quarter ended 2026-09-27 · SEC / Johnson & Johnson · 21 Oct 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Johnson & Johnson · 13 Oct 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.