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Fundamentals · EDGAR XBRL · Health Care

JNJ

Latest: Q3 FY26 · Thesis page →
Revenue$25.4B+5.9% YoY
Net income$210.0M-95.9% YoY
Free cash flow$6.4B-20.6% YoY
Gross margin68.1%-1.4 pts vs a year ago

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.

■ Revenue   ■ Net income
$0$9.1B$18.3B$27.4BQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26

Margin trend

Gross, operating and net margin. Margins are derived from reported dollars.

● Gross margin   ● Operating margin   ● Net margin
-9%20%50%80%Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26

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).

+9%+10%+7%+6%Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26

Income statement

From 10-Q / 10-K XBRL. Values in reported dollars; EPS in $/share; share counts in shares.

Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Revenue$22.5B$21.9B$23.7B$24.0B$24.6B$24.1B$25.3B$25.4B
YoY————+9.1%+9.9%+6.6%+5.9%
Cost of goods sold$7.1B$7.4B$7.6B$7.3B$8.0B$8.1B$8.1B$8.1B
YoY————+11.8%+10.2%+5.5%+10.9%
Gross profit$15.4B$14.5B$16.1B$16.7B$16.6B$16.0B$17.3B$17.3B
YoY————+7.8%+9.8%+7.1%+3.7%
Research & development————————
YoY————————
Selling, general & administrative$6.5B$5.1B$5.9B$5.9B$6.8B$6.0B$6.4B$6.3B
YoY————+4.6%+18.0%+9.2%+6.1%
Operating income————————
YoY————————
Pretax income$3.9B$13.6B$6.5B$7.5B$5.0B$6.0B$6.7B$34.0M
YoY————+27.8%-56.1%+3.9%-99.5%
Income tax$456.0M$2.6B$954.0M$2.3B$-150.0M$755.0M$1.2B$-176.0M
YoY————-132.9%-71.3%+27.1%-107.5%
Net income$3.4B$11.0B$5.5B$5.2B$5.1B$5.2B$5.5B$210.0M
YoY————+49.1%-52.4%-0.1%-95.9%
EPS — basic—$4.57$2.30$2.14—$2.17$2.30$0.09
YoY—————-52.5%+0.0%-95.8%
EPS — diluted—$4.54$2.29$2.12—$2.14$2.27$0.09
YoY—————-52.9%-0.9%-95.8%
Weighted shares — basic—2.41B2.41B2.41B—2.41B2.41B2.41B
Weighted shares — diluted—2.42B2.42B2.43B—2.45B2.44B2.45B

Balance sheet

Point-in-time values at each quarter (or fiscal year) end.

Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Cash & equivalents$24.1B$38.5B$18.6B$18.2B$19.7B$21.7B$20.4B$16.9B
YoY————-18.2%-43.6%+9.9%-7.2%
Marketable securities (current)$417.0M$307.0M$303.0M$331.0M$393.0M$363.0M$336.0M$318.0M
YoY————-5.8%+18.2%+10.9%-3.9%
Accounts receivable$14.8B$16.0B$17.8B$17.6B$17.2B$17.7B$19.0B$19.0B
YoY————+15.7%+10.6%+6.7%+7.8%
Inventory$12.4B$12.7B$13.4B$14.1B$14.2B$14.6B$15.1B$15.4B
YoY————+14.0%+15.2%+12.9%+8.7%
Total current assets$55.9B$71.6B$54.5B$54.6B$55.6B$59.2B$59.8B$56.4B
YoY————-0.5%-17.3%+9.7%+3.2%
Total assets$180.1B$193.7B$193.4B$192.8B$199.2B$200.9B$201.1B$197.4B
YoY————+10.6%+3.7%+4.0%+2.4%
Total current liabilities$50.3B$56.9B$54.2B$50.9B$54.1B$57.7B$54.9B$55.5B
YoY————+7.6%+1.4%+1.3%+9.0%
Total liabilities$108.6B$115.6B$114.9B$113.5B$117.7B$119.7B$116.1B$115.9B
YoY————+8.3%+3.6%+1.0%+2.1%
Total equity$71.5B$78.1B$78.5B$79.3B$81.5B$81.2B$85.0B$81.5B
YoY————+14.1%+3.9%+8.3%+2.8%
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.

Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Operating cash flow$7.0B$4.2B$3.9B$9.2B$7.3B$2.5B$8.6B$7.7B
YoY————+4.7%-39.8%+122.2%-15.8%
Capital expenditures$1.6B$795.0M$1.0B$1.2B$1.8B$1.0B$1.3B$1.4B
YoY————+14.0%+31.9%+26.7%+17.7%
Free cash flow$5.4B$3.4B$2.8B$8.0B$5.5B$1.5B$7.3B$6.4B
YoY————+1.9%-56.6%+157.3%-20.6%
Dividends paid————————
YoY————————
Share repurchases$282.0M$2.1B$0$1.9B$1.9B$4.0B$221.0M$1.7B
YoY————+582.3%+89.4%—-10.1%

Margins & ratios

Derived from the reported dollars above — no separate source.

Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Gross margin68.3%66.4%67.9%69.6%67.6%66.3%68.2%68.1%
Operating margin————————
Net margin15.2%50.2%23.3%21.5%20.8%21.8%21.9%0.8%
Free cash flow margin23.8%15.4%11.9%33.4%22.3%6.1%28.8%25.0%
Effective tax rate11.7%19.3%14.7%31.2%-3.0%12.6%18.0%-517.6%
Current ratio1.11x1.26x1.01x1.07x1.03x1.03x1.09x1.02x
Total liabilities / equity1.52x1.48x1.46x1.43x1.44x1.47x1.37x1.42x

Peer comparison — latest full year

Same sector (Health Care), sorted by revenue. All figures from the same EDGAR XBRL snapshot.

TickerRevenueRevenue YoYGross marginOperating marginNet marginFCF 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.