Johnson & Johnson
JNJNYSE
$265.04
Last price · USD
- Market cap
- $643.9B
- P/E
- 24.0x
- EV / EBITDA
- 16.4x
- P/S
- 6.8x
- FCF yield
- 3.1%
- Div. yield
- 1.92%
Multiples use last price and FY2025 annual figures. Market cap estimated from diluted shares.
Johnson & Johnson cash flow statement
Annual · USD millions except per-share data · 37 lines
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 | CAGR | |
|---|---|---|---|---|---|---|---|
| Operating activities | |||||||
| Net income | 26,804 | 14,066 | 13,326 | 17,941 | 20,878 | +6.4% | |
| Depreciation & amortization | 7,503 | 7,339 | 7,486 | 6,970 | 7,390 | +0.4% | |
| Deferred income tax | 1,538 | (2,183) | (4,194) | (1,663) | (2,079) | — | |
| Stock-based compensation | 1,354 | 1,176 | 1,162 | 1,138 | 1,135 | +4.5% | |
| Change in working capital | (12,718) | 1,837 | 2,507 | (4,011) | (4,238) | — | |
| Accounts receivables | (1,781) | (406) | (624) | (1,290) | (2,402) | — | |
| Inventory | (1,450) | (1,128) | (1,323) | (2,527) | (1,248) | — | |
| Accounts payables | 2,377 | 1,621 | 2,346 | 1,098 | 2,437 | -0.6% | |
| Other working capital | (11,864) | 1,750 | 2,108 | (1,292) | (3,025) | — | |
| Other non-cash items | 49 | 2,031 | 2,504 | 819 | 324 | -37.6% | |
| Net cash from operating activities | 24,530 | 24,266 | 22,791 | 21,194 | 23,410 | +1.2% | |
| Operating cash flow | 24,530 | 24,266 | 22,791 | 21,194 | 23,410 | +1.2% | |
| Investing activities | |||||||
| Investments in PP&E | (4,832) | (4,424) | (4,543) | (4,009) | (3,652) | — | |
| Capital expenditure | (4,832) | (4,424) | (4,543) | (4,009) | (3,652) | — | |
| Acquisitions, net | (17,541) | (15,146) | 358 | (17,652) | (60) | — | |
| Purchases of investments | (920) | (1,726) | (10,906) | (32,384) | (30,394) | — | |
| Sales / maturities of investments | 1,661 | 2,462 | 19,390 | 41,609 | 25,006 | -49.2% | |
| Other investing activities | (1,956) | 235 | (3,421) | 65 | 417 | — | |
| Net cash from investing activities | (23,588) | (18,599) | 878 | (12,371) | (8,683) | — | |
| Financing activities | |||||||
| Net debt issuance | 9,637 | 10,051 | (2,734) | 7,452 | (990) | — | |
| Short-term net debt issuance | 2,256 | 4,844 | (1,183) | 9,584 | 807 | +29.3% | |
| Long-term net debt issuance | 7,381 | 5,207 | (1,551) | (2,132) | (1,797) | — | |
| Net stock issuance | (5,953) | (2,432) | (813) | (6,035) | (3,456) | — | |
| Common stock issuance | 0 | 0 | 4,241 | 0 | 0 | — | |
| Common stock repurchased | (5,953) | (2,432) | (5,054) | (6,035) | (3,456) | — | |
| Net common stock issuance | (5,953) | (2,432) | (813) | (6,035) | (3,456) | — | |
| Common dividends paid | (12,381) | (11,823) | (11,770) | (11,682) | (11,032) | — | |
| Net dividends paid | (12,381) | (11,823) | (11,770) | (11,682) | (11,032) | — | |
| Other financing activities | 3,158 | 1,072 | (508) | 1,394 | 1,431 | +21.9% | |
| Net cash from financing activities | (5,539) | (3,132) | (15,825) | (8,871) | (14,047) | — | |
| Cash summary | |||||||
| Effect of forex changes on cash | 201 | (289) | (112) | (312) | (178) | — | |
| Net change in cash | (4,396) | 2,246 | 7,732 | (360) | 502 | — | |
| Cash at beginning of period | 24,105 | 21,859 | 14,127 | 14,487 | 13,985 | +14.6% | |
| Cash at end of period | 19,709 | 24,105 | 21,859 | 14,127 | 14,487 | +8.0% | |
| Free cash flow | 19,698 | 19,842 | 18,248 | 17,185 | 19,758 | -0.1% | |
| Income taxes paid | 0 | 6,714 | 8,574 | 5,223 | 4,768 | — | |
| Interest paid | 0 | 1,911 | 1,766 | 933 | 941 | — | |