Johnson & Johnson's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 28, 2025 · FY), Johnson & Johnson reported revenue of $94.2B (+6.0% year on year) and net income of $26.8B (+90.6% year on year).
| Line item | Dec 28, 2025 · FY | Dec 29, 2024 · FY | Dec 31, 2023 · FY | Jan 1, 2023 · FY |
|---|---|---|---|---|
| Sales to customers | $94.2B | $88.8B | $85.2B | $94.9B |
| Cost of products sold | $30.3B | $27.5B | $26.6B | $31.1B |
| Gross profit | $63.9B | $61.4B | $58.6B | $63.9B |
| Selling, marketing and administrative expenses | $23.7B | $22.9B | $21.5B | $24.8B |
| Research and development expense | $14.7B | $17.2B | $15.1B | $14.6B |
| In-process research and development impairments | $81.0M | $211.0M | $313.0M | — |
| Interest income | ($1.1B) | ($1.3B) | ($1.3B) | ($490.0M) |
| Interest expense, net of portion capitalized | $971.0M | $755.0M | $772.0M | — |
| Other (income) expense, net | ($7.2B) | $4.7B | $6.6B | $1.9B |
| Restructuring | $228.0M | $234.0M | $489.0M | $321.0M |
| Earnings before provision for taxes on income | $32.6B | $16.7B | $15.1B | $21.7B |
| Effective Rate | $5.8B | $2.6B | $1.7B | $3.8B |
| Net earnings from continuing operations | $26.8B | $14.1B | $13.3B | — |
| Net earnings from discontinued operations | $0 | $0 | $21.8B | — |
| Net earnings | $26.8B | $14.1B | $35.2B | $17.9B |
| Basic net earnings per share from continuing operations (in dollars per share) | $11.13 | $5.84 | $5.26 | — |
| Basic net earnings per share from discontinued operations (in dollars per share) | $0.00 | $0.00 | $8.62 | — |
| Basic (in dollars per share) | $11.13 | $5.84 | $13.88 | $6.83 |
| Diluted net earnings per share from continuing operations (in dollars per share) | $11.03 | $5.79 | $5.20 | — |
| Diluted net earnings per share from discontinuing operations (in dollars per share) | $0.00 | $0.00 | $8.52 | — |
| Diluted (in dollars per share) | $11.03 | $5.79 | $13.72 | $6.73 |
| Basic (in shares) | 2.4B | 2.4B | 2.5B | 2.6B |
| Diluted (in shares) | 2.4B | 2.4B | 2.6B | 2.7B |
| Line item | Sep 27, 2026 · Q3 | Jun 28, 2026 · Q2 | Mar 29, 2026 · Q1 | Sep 28, 2025 · Q3 |
|---|---|---|---|---|
| Sales to customers (Note 9) | $25.4B | $25.3B | $24.1B | $24.0B |
| Sales to customers percent to sales | 100.0% | 100.0% | 100.0% | 100.0% |
| Cost of products sold | $8.1B | $8.1B | $8.1B | $7.3B |
| Cost of products sold percent to sales | 31.9% | 31.8% | 33.7% | 30.4% |
| Gross profit | $17.3B | $17.3B | $16.0B | $16.7B |
| Gross Profit Percent To Sales | 68.1% | 68.2% | 66.3% | 69.6% |
| Selling, marketing and administrative expenses | $6.3B | $6.4B | $6.0B | $5.9B |
| Selling marketing and administrative expenses percent to sales | 24.7% | 25.4% | 25.1% | 24.7% |
| Research and development expense | $4.7B | $3.7B | $3.5B | $3.7B |
| Research and development expense percent to sales | 18.3% | 14.4% | 14.7% | 15.3% |
| In-process research and development impairments | $339.0M | — | $36.0M | — |
| In-process research and development percent to sales | 1.4% | — | 0.1% | — |
| Interest income | ($186.0M) | ($219.0M) | ($229.0M) | ($227.0M) |
| Interest income percent to sales | -0.7% | -0.9% | -1.0% | -0.9% |
| Interest expense, net of portion capitalized | $217.0M | $281.0M | $272.0M | $245.0M |
| Interest expense, net of portion capitalized percent to sales | 0.8% | 1.1% | 1.2% | 1.0% |
| Other (income) expense, net | $5.8B | $331.0M | $294.0M | ($478.0M) |
| Other (income) expense, net percent to sales | 22.8% | 1.3% | 1.2% | -2.0% |
| Restructuring (Note 12) | $181.0M | $34.0M | $32.0M | $63.0M |
| Restructuring charge percent to sales | 0.7% | 0.2% | 0.1% | 0.3% |
| Earnings before provision for taxes on income | $34.0M | $6.7B | $6.0B | $7.5B |
| Earnings before provision for taxes on income percent to sales | 0.1% | 26.7% | 24.9% | 31.2% |
| (Benefit from)/Provision for taxes on income (Note 5) | ($176.0M) | $1.2B | $755.0M | $2.3B |
| Provision for taxes on income percent to sales | -0.7% | 4.8% | 3.1% | 9.7% |
| Net earnings from continuing operations percent of sales | 0.8% | 21.9% | 21.8% | 21.5% |
| Net earnings | $210.0M | $5.5B | $5.2B | $5.2B |
| Total net earnings per share - basic (in dollars per share) | $0.09 | $2.30 | $2.17 | $2.14 |
| Total net earnings per share - diluted (in dollars per share) | $0.09 | $2.27 | $2.14 | $2.12 |
| Basic (shares) | 2.4B | 2.4B | 2.4B | 2.4B |
| Diluted (shares) | 2.4B | 2.4B | 2.4B | 2.4B |
| Line item | Dec 28, 2025 · FY | Dec 29, 2024 · FY | Dec 31, 2023 · FY | Jan 1, 2023 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $19.7B | $24.1B | $21.9B | $14.1B |
| Marketable securities | $393.0M | $417.0M | $1.1B | $9.4B |
| Accounts receivable trade, less allowances $183 (2024, $167) | $17.2B | $14.8B | $14.9B | $16.2B |
| Inventories | $14.2B | $12.4B | $11.2B | $12.5B |
| Prepaid expenses and other receivables | $4.2B | $4.1B | $4.5B | $3.1B |
| Total current assets | $55.6B | $55.9B | $53.5B | $55.3B |
| Property, plant and equipment, net | $23.2B | $20.5B | $19.9B | $19.8B |
| Intangible assets, net | $50.4B | $37.6B | $34.2B | $48.3B |
| Goodwill | $48.8B | $44.2B | $36.6B | $45.2B |
| Deferred taxes on income | $6.9B | $10.5B | $9.3B | $9.1B |
| Other assets | $14.4B | $11.4B | $14.2B | $9.6B |
| Total assets | $199.2B | $180.1B | $167.6B | $187.4B |
| Loans and notes payable | $8.5B | $6.0B | $3.5B | $12.8B |
| Accounts payable | $12.0B | $10.3B | $9.6B | $11.7B |
| Accrued liabilities | $8.6B | $8.5B | $10.2B | $11.5B |
| Accrued rebates, returns and promotions | $19.1B | $17.6B | $16.0B | $14.4B |
| Accrued compensation and employee related obligations | $4.5B | $4.1B | $4.0B | $3.3B |
| Accrued taxes on income | $1.4B | $3.8B | $3.0B | $2.1B |
| Total current liabilities | $54.1B | $50.3B | $46.3B | $55.8B |
| Long-term debt | $39.4B | $30.7B | $25.9B | $26.9B |
| Deferred taxes on income | $6.8B | $2.4B | $3.2B | $6.4B |
| Employee related obligations | $7.0B | $7.3B | $7.1B | $6.8B |
| Long-term taxes payable | $486.0M | $390.0M | $2.9B | $4.3B |
| Other liabilities | $9.9B | $17.5B | $13.4B | $10.4B |
| Total liabilities | $117.7B | $108.6B | $98.8B | $110.6B |
| Preferred stock — without par value (authorized and unissued 2,000,000 shares) | 0 | 0 | 0 | 0 |
| Common stock — par value $1.00 per share (Note 12) (authorized 4,320,000,000 shares; issued 3,119,843,000 shares) | $3120000000.00 | $3120000000.00 | $3120000000.00 | $3120000000.00 |
| Accumulated other comprehensive income (loss) | ($14.9B) | ($11.7B) | ($12.5B) | ($13.0B) |
| Retained earnings and Additional-paid-in-capital | $169.0B | $155.8B | $153.8B | $128.3B |
| Less: common stock held in treasury, at cost (Note 12) (711,904,000 shares and 712,921,000 shares) | 75.6B | 75.7B | 75.7B | 41.7B |
| Total shareholders’ equity | $81.5B | $71.5B | $68.8B | $76.8B |
| Total liabilities and shareholders’ equity | $199.2B | $180.1B | $167.6B | $187.4B |
| Line item | Sep 27, 2026 | Jun 28, 2026 | Mar 29, 2026 | Sep 28, 2025 |
|---|---|---|---|---|
| Cash and cash equivalents (Note 4) | $16.9B | $20.4B | $21.7B | $18.2B |
| Marketable securities | $318.0M | $336.0M | $363.0M | $331.0M |
| Accounts receivable, trade, less allowances $187 (2025, $183) | $19.0B | $19.0B | $17.7B | $17.6B |
| Inventories (Note 2) | $15.4B | $15.1B | $14.6B | $14.1B |
| Prepaid expenses and other | $4.8B | $4.8B | $4.8B | $4.3B |
| Total current assets | $56.4B | $59.8B | $59.2B | $54.6B |
| Property, plant and equipment at cost | $55.5B | $55.5B | $54.7B | $53.4B |
| Less: accumulated depreciation | ($31.4B) | ($31.9B) | ($31.4B) | ($31.0B) |
| Property, plant and equipment, net | $24.1B | $23.6B | $23.3B | $22.3B |
| Intangible assets, net (Note 3) | $46.7B | $48.2B | $49.1B | $48.7B |
| Goodwill (Note 3) | $48.5B | $48.5B | $48.6B | $48.0B |
| Deferred taxes on income (Note 5) | $6.7B | $6.7B | $6.7B | $6.7B |
| Other assets | $15.1B | $14.3B | $14.1B | $12.4B |
| Total assets | $197.4B | $201.1B | $200.9B | $192.8B |
| Loans and notes payable | $8.9B | $11.7B | $17.5B | $6.4B |
| Accounts payable | $9.3B | $9.2B | $10.5B | $9.6B |
| Accrued liabilities | $12.3B | $9.5B | $7.4B | $7.6B |
| Accrued rebates, returns and promotions | $18.9B | $20.0B | $18.4B | $21.4B |
| Accrued compensation and employee related obligations | $4.1B | $3.5B | $2.9B | $4.0B |
| Accrued taxes on income (Note 5) | $2.0B | $1.1B | $1.1B | $1.9B |
| Total current liabilities | $55.5B | $54.9B | $57.7B | $50.9B |
| Long-term debt (Note 4) | $35.8B | $37.3B | $37.5B | $39.4B |
| Deferred taxes on income (Note 5) | $4.8B | $6.6B | $7.0B | $6.0B |
| Employee related obligations (Note 6) | $6.6B | $6.7B | $6.8B | $6.9B |
| Long-term taxes payable (Note 5) | $497.0M | $485.0M | $486.0M | $418.0M |
| Other liabilities | $12.7B | $10.1B | $10.2B | $9.9B |
| Total liabilities | $115.9B | $116.1B | $119.7B | $113.5B |
| Common stock — par value $1.00 per share (authorized 4,320,000,000 shares; issued 3,119,843,000 shares) | $3120000000.00 | $3120000000.00 | $3120000000.00 | $3120000000.00 |
| Accumulated other comprehensive income (loss) (Note 7) | ($13.8B) | ($14.0B) | ($14.8B) | ($15.2B) |
| Retained earnings and Additional paid-in capital | $168.4B | $171.7B | $169.2B | $167.3B |
| Less: common stock held in treasury, at cost (712,725,000 and 711,904,000 shares) | 76.2B | 75.9B | 76.3B | 75.9B |
| Total shareholders’ equity | $81.5B | $85.0B | $81.2B | $79.3B |
| Total liabilities and shareholders’ equity | $197.4B | $201.1B | $200.9B | $192.8B |
| Line item | Dec 28, 2025 · FY | Dec 29, 2024 · FY | Dec 31, 2023 · FY | Jan 1, 2023 · FY |
|---|---|---|---|---|
| Net earnings | $26.8B | $14.1B | $35.2B | $17.9B |
| Depreciation and amortization of property and intangibles | $7.5B | $7.3B | $7.5B | $7.0B |
| Stock based compensation | $1.4B | $1.2B | $1.2B | $1.1B |
| Asset write-downs | $204.0M | $405.0M | $1.3B | $1.2B |
| Charges for acquired in-process research and development | $109.0M | $1.8B | $483.0M | — |
| (Gain) on separation of Kenvue | $0 | $0 | ($21.0B) | — |
| Net gain on sale of assets/businesses | ($263.0M) | ($226.0M) | ($117.0M) | ($380.0M) |
| Deferred tax provision | $1.5B | ($2.2B) | ($4.2B) | ($1.7B) |
| Credit losses and accounts receivable allowances | ($1.0M) | $11.0M | $0 | ($17.0M) |
| Increase in accounts receivable | ($1.8B) | ($406.0M) | ($624.0M) | ($1.3B) |
| Increase in inventories | ($1.4B) | ($1.1B) | ($1.3B) | ($2.5B) |
| Increase in accounts payable and accrued liabilities | $2.4B | $1.6B | $2.3B | $1.1B |
| (Increase)/Decrease in other current and non-current assets | ($6.2B) | $1.7B | ($3.5B) | $687.0M |
| (Decrease)/Increase in other current and non-current liabilities | ($5.7B) | $33.0M | $5.6B | ($2.0B) |
| Net cash flows from operating activities | $24.5B | $24.3B | $22.8B | $21.2B |
| Additions to property, plant and equipment | ($4.8B) | ($4.4B) | ($4.5B) | ($4.0B) |
| Proceeds from the disposal of assets/businesses, net | $720.0M | $675.0M | $358.0M | $543.0M |
| Acquisitions, net of cash acquired | ($17.5B) | ($15.1B) | $0 | ($17.7B) |
| Acquired in-process research and development/related milestones (Note 18) | ($385.0M) | ($1.8B) | ($470.0M) | — |
| Purchases of investments | ($920.0M) | ($1.7B) | ($10.9B) | ($32.4B) |
| Sales of investments | $1.7B | $2.5B | $19.4B | $41.6B |
| Credit support agreements activity, net | ($2.1B) | $1.5B | ($3.0B) | ($249.0M) |
| Other (including capitalized licenses and milestones) | ($162.0M) | ($174.0M) | $12.0M | ($229.0M) |
| Net cash (used by)/from investing activities | ($23.6B) | ($18.6B) | $878.0M | ($12.4B) |
| Dividends to shareholders | ($12.4B) | ($11.8B) | ($11.8B) | ($11.7B) |
| Repurchase of common stock | ($6.0B) | ($2.4B) | ($5.1B) | ($6.0B) |
| Proceeds from short-term debt | $14.6B | $15.3B | $13.7B | $16.1B |
| Repayment of short-term debt | ($12.3B) | ($9.5B) | ($23.0B) | ($6.5B) |
| Proceeds from long-term debt, net of issuance costs | $9.1B | $6.7B | $0 | $2.0M |
| Repayment of long-term debt | ($1.8B) | ($1.5B) | ($1.6B) | ($2.1B) |
| Proceeds from the exercise of stock options/employee withholding tax on stock awards, net | $3.4B | $838.0M | $1.1B | $1.3B |
| Credit support agreements activity, net | ($226.0M) | $272.0M | ($219.0M) | ($28.0M) |
| Settlement of convertible debt acquired from Shockwave | $0 | ($970.0M) | — | — |
| Proceeds of short and long-term debt, net of issuance cost, related to the debt that transferred to Kenvue at separation | $0 | $0 | $8.0B | — |
| Proceeds from Kenvue initial public offering | $0 | $0 | $4.2B | — |
| Cash transferred to Kenvue at separation | $0 | $0 | ($1.1B) | — |
| Other | ($34.0M) | ($38.0M) | ($269.0M) | $93.0M |
| Net cash used by financing activities | ($5.5B) | ($3.1B) | ($15.8B) | ($8.9B) |
| Effect of exchange rate changes on cash and cash equivalents | $201.0M | ($289.0M) | ($112.0M) | ($312.0M) |
| (Decrease)/Increase in cash and cash equivalents | ($4.4B) | $2.2B | $7.7B | ($360.0M) |
| Cash and cash equivalents from continuing operations, beginning of period | $24.1B | $21.9B | $12.9B | — |
| Cash and cash equivalents from discontinued operations, beginning of period | $0 | $0 | $1.2B | — |
| Cash and cash equivalents, beginning of year | $24.1B | $21.9B | $14.1B | $14.5B |
| Cash and cash equivalents from continuing operations, end of period | $19.7B | $24.1B | $21.9B | — |
| Cash and cash equivalents from discontinued operations, end of period | $0 | $0 | $0 | — |
| Line item | Sep 27, 2026 · YTD | Jun 28, 2026 · YTD | Mar 29, 2026 · Q1 | Sep 28, 2025 · YTD |
|---|---|---|---|---|
| Net earnings | $11.0B | $10.8B | $5.2B | $21.7B |
| Depreciation and amortization of property and intangibles | $6.1B | $4.0B | $2.0B | $5.5B |
| Stock based compensation | $1.1B | $758.0M | $300.0M | $1.0B |
| Asset write-downs | $801.0M | $220.0M | $36.0M | $123.0M |
| Charges for acquired in-process research and development assets | $964.0M | $2.0M | $2.0M | $109.0M |
| Net gain on sale of assets/businesses | ($27.0M) | ($43.0M) | $12.0M | ($131.0M) |
| Deferred tax provision | ($2.1B) | ($320.0M) | $159.0M | $5.2B |
| Credit losses and accounts receivable allowances | $5.0M | ($12.0M) | ($8.0M) | ($6.0M) |
| Increase in accounts receivable | ($1.8B) | ($1.9B) | ($595.0M) | ($2.2B) |
| Increase in inventories | ($1.2B) | ($1.0B) | ($431.0M) | ($1.4B) |
| Increase in accounts payable and accrued liabilities | $1.4B | ($956.0M) | ($3.9B) | $1.1B |
| Decrease/(Increase) in other current and non-current assets | $1.4B | $1.3B | $349.0M | ($7.7B) |
| Increase/(Decrease) in other current and non-current liabilities | $1.1B | ($1.6B) | ($629.0M) | ($6.2B) |
| Net cash flows from operating activities | $18.9B | $11.1B | $2.5B | $17.2B |
| Additions to property, plant and equipment | ($3.7B) | ($2.4B) | ($1.0B) | ($3.0B) |
| Proceeds from the disposal of assets/businesses, net (Note 10) | $88.0M | $92.0M | $29.0M | $408.0M |
| Acquisitions, net of cash acquired (Note 10) | ($352.0M) | ($263.0M) | — | ($14.5B) |
| Acquired in-process research and development assets / related milestones (Note 10) | ($995.0M) | $0 | $0 | ($385.0M) |
| Purchases of investments | ($1.2B) | ($299.0M) | ($144.0M) | ($677.0M) |
| Sales of investments | $676.0M | $368.0M | $209.0M | $1.4B |
| Credit support agreements activity, net | $873.0M | $515.0M | ($31.0M) | ($2.3B) |
| Other (including capitalized licenses and milestones) | ($199.0M) | ($193.0M) | ($54.0M) | ($99.0M) |
| Net cash used for investing activities | ($4.9B) | ($2.1B) | ($1.0B) | ($19.1B) |
| Dividends to shareholders | ($9.6B) | ($6.4B) | ($3.1B) | ($9.3B) |
| Repurchase of common stock | ($6.0B) | ($4.2B) | ($4.0B) | ($4.0B) |
| Proceeds from short-term debt, net | $15.4B | $13.1B | $12.4B | $10.7B |
| Repayment of short-term debt, net | ($16.3B) | ($9.7B) | ($3.2B) | ($10.5B) |
| Proceeds from long-term debt, net of issuance costs | $0 | $0 | $0 | $9.1B |
| Repayment of long-term debt | ($2.0B) | ($2.0B) | ($2.0B) | ($1.8B) |
| Proceeds from the exercise of stock options/employee withholding tax on stock awards, net | $2.3B | $1.5B | $1.2B | $1.8B |
| Credit support agreements activity, net | ($32.0M) | ($49.0M) | ($109.0M) | ($246.0M) |
| Other | ($587.0M) | ($588.0M) | ($588.0M) | ($8.0M) |
| Net cash used for financing activities | ($16.8B) | ($8.2B) | $530.0M | ($4.2B) |
| Effect of exchange rate changes on cash and cash equivalents | ($10.0M) | ($20.0M) | ($25.0M) | $178.0M |
| Decrease in cash and cash equivalents | ($2.8B) | $713.0M | $2.0B | ($5.9B) |
| Cash and cash equivalents, beginning of period | $19.7B | $19.7B | $19.7B | $24.1B |
| Cash and cash equivalents, end of period | $16.9B | $20.4B | $21.7B | $18.2B |
Johnson & Johnson score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.