Revenue vs Net income
Reported dollars from 10-Q / 10-K filings. Q4 bars are derived (annual less nine months) where the 10-K does not tag Q4 separately.
Margin trend
Gross, operating and net margin. Margins are derived from reported dollars.
Revenue YoY growth
Year-over-year change vs the same quarter (or fiscal year) a year earlier. Shown where the prior-year period is in the 8-quarter snapshot (latest four quarters).
Income statement
From 10-Q / 10-K XBRL. Values in reported dollars; EPS in $/share; share counts in shares.
| FY22 | FY23 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $78.7B | $80.0B | $85.2B | $88.8B | $94.2B |
| YoY | — | +1.6% | +6.5% | +4.3% | +6.0% |
| Cost of goods sold | $23.4B | $24.6B | $26.6B | $27.5B | $30.3B |
| YoY | — | +5.1% | +8.0% | +3.5% | +10.1% |
| Gross profit | $55.3B | $55.4B | $58.6B | $61.4B | $63.9B |
| YoY | — | +0.1% | +5.8% | +4.7% | +4.2% |
| Research & development | $0 | $0 | $483.0M | $1.8B | $109.0M |
| YoY | — | — | — | +281.2% | -94.1% |
| Selling, general & administrative | $20.1B | $20.2B | $21.5B | $22.9B | $23.7B |
| YoY | — | +0.6% | +6.3% | +6.3% | +3.5% |
| Operating income | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Pretax income | $19.2B | $19.4B | $15.1B | $16.7B | $32.6B |
| YoY | — | +0.9% | -22.2% | +10.8% | +95.2% |
| Income tax | $1.4B | $3.0B | $1.7B | $2.6B | $5.8B |
| YoY | — | +117.1% | -41.9% | +51.0% | +120.4% |
| Net income | $20.9B | $17.9B | $35.2B | $14.1B | $26.8B |
| YoY | — | -14.1% | +95.9% | -60.0% | +90.6% |
| EPS — basic | $7.93 | $6.83 | $13.88 | $5.84 | $11.13 |
| YoY | — | -13.9% | +103.2% | -57.9% | +90.6% |
| EPS — diluted | $7.81 | $6.73 | $13.72 | $5.79 | $11.03 |
| YoY | — | -13.8% | +103.9% | -57.8% | +90.5% |
| Weighted shares — basic | 2.63B | 2.63B | 2.53B | 2.41B | 2.41B |
| Weighted shares — diluted | 2.67B | 2.66B | 2.56B | 2.43B | 2.43B |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| FY22 | FY23 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Cash & equivalents | $14.5B | $12.9B | $21.9B | $24.1B | $19.7B |
| YoY | — | -11.0% | +69.6% | +10.3% | -18.2% |
| Marketable securities (current) | $17.1B | $9.4B | $1.1B | $417.0M | $393.0M |
| YoY | — | -45.1% | -88.6% | -61.0% | -5.8% |
| Accounts receivable | $15.3B | $14.0B | $14.9B | $14.8B | $17.2B |
| YoY | — | -8.1% | +5.9% | -0.2% | +15.7% |
| Inventory | $10.4B | $10.3B | $11.2B | $12.4B | $14.2B |
| YoY | — | -1.1% | +8.9% | +11.3% | +14.0% |
| Total current assets | $61.0B | $55.3B | $53.5B | $55.9B | $55.6B |
| YoY | — | -9.3% | -3.3% | +4.5% | -0.5% |
| Total assets | $182.0B | $187.4B | $167.6B | $180.1B | $199.2B |
| YoY | — | +2.9% | -10.6% | +7.5% | +10.6% |
| Total current liabilities | $45.2B | $55.8B | $46.3B | $50.3B | $54.1B |
| YoY | — | +23.4% | -17.1% | +8.7% | +7.6% |
| Total liabilities | $108.0B | $110.6B | $98.8B | $108.6B | $117.7B |
| YoY | — | +2.4% | -10.7% | +10.0% | +8.3% |
| Total equity | — | $76.8B | $68.8B | $71.5B | $81.5B |
| YoY | — | — | -10.5% | +3.9% | +14.1% |
| Shares outstanding | — | — | — | — | — |
| YoY | — | — | — | — | — |
Cash flow
Quarterly values derived from year-to-date filings (Q4 from the 10-K). Free cash flow = operating cash flow − capital expenditures.
| FY22 | FY23 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Operating cash flow | $23.4B | $21.2B | $22.8B | $24.3B | $24.5B |
| YoY | — | -9.5% | +7.5% | +6.5% | +1.1% |
| Capital expenditures | $3.7B | $4.0B | $4.5B | $4.4B | $4.8B |
| YoY | — | +9.8% | +13.3% | -2.6% | +9.2% |
| Free cash flow | $19.8B | $17.2B | $18.2B | $19.8B | $19.7B |
| YoY | — | -13.0% | +6.2% | +8.7% | -0.7% |
| Dividends paid | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Share repurchases | $3.5B | $6.0B | $5.1B | $2.4B | $6.0B |
| YoY | — | +74.6% | -16.3% | -51.9% | +144.8% |
Margins & ratios
Derived from the reported dollars above — no separate source.
| FY22 | FY23 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Gross margin | 70.3% | 69.3% | 68.8% | 69.1% | 67.9% |
| Operating margin | — | — | — | — | — |
| Net margin | 26.5% | 22.4% | 41.3% | 15.8% | 28.5% |
| Free cash flow margin | 25.1% | 21.5% | 21.4% | 22.3% | 20.9% |
| Effective tax rate | 7.2% | 15.4% | 11.5% | 15.7% | 17.7% |
| Current ratio | 1.35x | 0.99x | 1.16x | 1.11x | 1.03x |
| Total liabilities / equity | — | 1.44x | 1.44x | 1.52x | 1.44x |
Peer comparison — latest full year
Same sector (Health Care), sorted by revenue. All figures from the same EDGAR XBRL snapshot.
| Ticker | Revenue | Revenue YoY | Gross margin | Operating margin | Net margin | FCF margin |
|---|---|---|---|---|---|---|
| JNJ FY25 · this stock | $94.2B | +6.0% | 67.9% | — | 28.5% | 20.9% |
| UNH FY25 | $447.6B | +11.8% | — | 4.2% | 2.7% | 3.6% |
| CVS FY25 | $402.1B | +7.8% | — | 1.2% | 0.4% | 1.9% |
| CI FY25 | $274.9B | +11.2% | — | 3.3% | — | — |
| ELV FY25 | $199.1B | +12.5% | — | 3.6% | 2.8% | 1.6% |
| LLY FY25 | $65.2B | +44.7% | — | — | 31.7% | — |
| MRK FY25 | $65.0B | +1.3% | — | — | 28.1% | 19.0% |
| ABBV FY25 | $61.2B | +8.6% | — | 24.6% | 6.9% | 29.1% |
| BMY FY25 | $48.2B | -0.2% | — | — | 14.6% | 26.7% |
| TMO FY25 | $44.6B | +3.9% | — | 17.4% | 15.0% | 14.1% |
| ABT FY25 | $44.3B | +5.7% | — | 18.2% | 14.7% | 16.7% |
Source: SEC EDGAR XBRL company facts (10-Q / 10-K), snapshot generated 2026-11-03 for 218 tickers. Q4 values are derived as the 10-K annual less the first nine months, since Q4 is not separately tagged in company facts; cash-flow quarterly values are derived from year-to-date filings the same way. Free cash flow = operating cash flow − capital expenditures. Blank cells mean the filing does not report that line item under a standard US-GAAP tag — nothing is estimated or filled in. Descriptive research, not investment advice. How EarnIQ builds fundamentals.