Earnings quality
Compare earnings and operating cash flow for earnings quality.
Johnson & Johnson
Ticker JNJ · 🇺🇸 United States · Consolidated US GAAP · amounts in dollars
Filed 2026-02-11 · Period end 2025-12-28
Takeaway
Worth trackingSales and operating profit both moved in a healthier direction.
operating margin is 22.9%.
Sales and operating profit moved together — keep watching margins and whether the trend persists next period.
ActionWorth tracking
OP margin22.9%
Equity ratio—
Last price—
Trailing P/E—
Look at next
- Compare operating cash flow to reported profit across the last two years.
- Open English IR for management commentary on outlook and capital allocation.
- Overlay peers on Compare before judging relative momentum.
About the company
Johnson & Johnson is a US-listed company with consolidated financial statements filed on SEC EDGAR.
Compare trends
Tel 732-524-2455 · As of filing date 2026-02-11
Financial statements
Income statement
| Account | FY2024 (ended Dec 29, 2024) | FY2025 (ended Dec 28, 2025) |
|---|---|---|
| Revenue | $88.8B | $94.2B |
| Cost of sales* | $27.5B | $30.3B |
| Gross profit | $61.4B | $63.9B |
| Operating profit | $16.4B | $21.6B |
| Income tax | $2.6B | $5.8B |
| Net income | $14.1B | $26.8B |
| Basic EPS | 5.84 | 11.13 |
Balance sheet
| Account | FY2024 (ended Dec 29, 2024) | FY2025 (ended Dec 28, 2025) |
|---|---|---|
| Cash & equivalents | $24.1B | $19.7B |
| Current assets | $55.9B | $55.6B |
| Non-current assets* | $124.2B | $143.6B |
| Total assets | $180.1B | $199.2B |
| Current liabilities | $50.3B | $54.1B |
| Non-current liabilities* | $58.3B | $63.5B |
| Total liabilities | $108.6B | $117.7B |
| Stockholders’ equity | — | — |
Cash flow statement
| Account | FY2024 (ended Dec 29, 2024) | FY2025 (ended Dec 28, 2025) |
|---|---|---|
| Operating cash flow | $24.3B | $24.5B |
| Investing cash flow | -$18.6B | -$23.6B |
| Financing cash flow | -$3.1B | -$5.5B |
| Cash at end of period | $24.1B | $19.7B |
Five-year trends
Key metrics
| Metric | Trend | FY2023 | FY2023 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | $21.5B | $21.4B | $85.2B | $88.8B | $94.2B | |
| Net income | $5.1B | $26.0B | $35.2B | $14.1B | $26.8B | |
| Total assets | — | — | $167.6B | $180.1B | $199.2B | |
| Cash & equivalents | — | — | $21.9B | $24.1B | $19.7B |
How we read these numbers
From the notes
No material one-offs extracted from this filing.
Constructive
Sales and operating profit both moved in a healthier direction.
On the income statement, revenue moved from $88.8B to $94.2B (▲ +6.0%). Operating profit went from $16.4B to $21.6B (▲ +31.6%).
Operating cash flow was $24.5B (prior $24.3B), with cash on the balance sheet at $19.7B versus $24.1B.
Liquidity & leverage
Cash moved from $24.1B to $19.7B; current liabilities $54.1B.
Capital buffer
Stockholders’ equity moved from — to —.
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Source: SEC EDGAR 0000200406-26-000016
(Johnson & Johnson), period end 2025-12-28.