15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 3.3% per year over the past 5 years.
Net income has grown faster than revenue (16.2% vs 3.3% per year).
Free cash flow has declined 0.6% per year over the past 5 years.
Financial health
Total debt ($49.9B) exceeds cash ($19.7B); net debt is $30.2B.
Total debt has grown faster than revenue (7.7% vs 3.3% per year).
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
2025
$94.2B
$26.8B
67.9%
0.0%
$19.7B
$49.9B
$19.7B
2024
$88.8B
$14.1B
69.1%
0.0%
$19.8B
$38.4B
$24.1B
2023
$85.2B
$35.2B
68.8%
0.0%
$18.2B
$30.8B
$21.9B
2023
$80.0B
$17.9B
69.3%
0.0%
$17.2B
$41.2B
$12.9B
2022
$78.7B
$20.9B
70.3%
0.0%
$19.8B
$35.9B
$14.5B
2021
$82.6B
$14.7B
65.6%
0.0%
$20.2B
$37.1B
$14.0B
2019
$82.1B
$15.1B
66.4%
0.0%
$19.9B
$27.7B
$17.3B
2018
$81.6B
$15.3B
66.8%
0.0%
$18.5B
$33.1B
$18.1B
2017
$76.5B
$1.3B
66.7%
0.0%
$17.8B
$36.1B
$17.8B
2017
$71.9B
$16.5B
69.7%
0.0%
$15.5B
$28.8B
$19.0B
2016
—
$15.4B
—
—
$16.1B
$19.9B
$13.7B
2014
—
$16.3B
—
—
$15.0B
$18.8B
$14.5B
2013
—
$13.8B
—
—
$13.8B
$18.2B
$20.9B
2012
—
$10.9B
—
—
$12.5B
$16.2B
$14.9B
2012
—
$9.7B
—
—
$11.4B
$19.6B
$24.5B
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
Mar '26
$24.1B
$5.2B
66.3%
0.0%
$1.5B
$55.0B
$21.7B
Dec '25
$24.6B
$5.1B
67.6%
0.0%
$5.5B
$49.9B
$19.7B
Sep '25
$24.0B
$5.2B
69.6%
0.0%
$8.0B
$45.8B
$18.2B
Jun '25
$23.7B
$5.5B
67.9%
0.0%
$2.8B
$50.8B
$18.6B
Mar '25
$21.9B
$11.0B
66.4%
0.0%
$3.4B
$52.3B
$38.5B
Dec '24
$22.5B
$3.4B
68.3%
0.0%
$5.4B
$38.4B
$24.1B
Sep '24
$22.5B
$2.7B
69.0%
0.0%
$7.0B
$35.8B
$20.0B
Jun '24
$22.4B
$4.7B
69.4%
0.0%
$4.7B
$41.5B
$24.9B
Mar '24
$21.4B
$3.3B
69.6%
0.0%
$2.9B
$33.6B
$25.5B
Dec '23
$21.4B
$4.0B
68.2%
0.0%
$6.3B
$30.8B
$21.9B
Oct '23
$21.4B
$26.0B
69.1%
0.0%
$6.5B
$29.9B
$19.7B
Jul '23
$21.5B
$5.1B
70.0%
0.0%
$3.1B
$45.6B
$21.2B
Apr '23
$20.9B
-$68M
68.0%
0.0%
$2.4B
$52.9B
$19.2B
Jan '23
$19.9B
$3.5B
69.5%
0.0%
$3.8B
$41.2B
$12.9B
Oct '22
$20.0B
$4.5B
69.1%
0.0%
$5.3B
$32.0B
$11.4B
Jul '22
$20.2B
$4.8B
68.7%
0.0%
$4.7B
$32.6B
$11.0B
Apr '22
$23.4B
$5.1B
67.6%
0.0%
$3.4B
$33.1B
$10.5B
Jan '22
$24.8B
$4.7B
67.9%
0.0%
$4.3B
$35.9B
$14.5B
Oct '21
$23.3B
$3.7B
68.9%
0.0%
$7.5B
$33.9B
$17.6B
Jul '21
$23.3B
$6.3B
67.5%
0.0%
$4.5B
$33.5B
$14.3B
Valuation over time
How the market has priced JNJ against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has risen from 20.8× (Mar '23) to 22.0× (Jun '26).
The price-to-sales ratio has risen from 4.7× (Mar '23) to 6.3× (Jun '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Frequently asked questions
Is JNJ growing its revenue and profit?
Over the past 5 years, Johnson & Johnson's revenue has grown 3.3% per year, and net income grown 16.2% per year. These are computed facts, not advice.
How much debt does JNJ have?
As of FY2025, Johnson & Johnson reported $49.9B of total debt against $19.7B of cash.
What is JNJ's profit margin?
In FY2025, gross margin was 67.9%, operating margin —, and net margin 28.5%.
What is JNJ's P/E ratio?
As of Jun '26, Johnson & Johnson traded at a price-to-earnings ratio of about 22.0× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.