{ "ticker": "JNJ", "cik": "0000200406", "company": "Johnson & Johnson", "business_type": "pharmaceutical and medical technology (standard industrial/consumer template, extended with segment revenue, segment pre-tax income and R&D expense)", "schema_rationale": "Johnson & Johnson is a two-segment healthcare products company (Innovative Medicine and MedTech). The standard revenue / cost of products sold / gross profit / net income / EPS / balance-sheet / cash-flow template fits it directly. Because research and development and the two-segment split are central to how the business earns money, segment sales, segment pre-tax income and R&D expense are reported alongside the standard lines. Johnson & Johnson does not present an 'operating income' subtotal on the face of its statement of earnings, so an operating income figure is derived here (gross profit less selling, marketing and administrative expenses, research and development expense, in-process research and development impairments and restructuring) and is labeled as derived wherever it appears.", "reporting_currency": "USD", "converted_to_usd": false, "units": "actual dollars (not millions); per-share figures are in actual dollars per share; share counts are actual shares", "units_notes_seen": { "FY2025 10-K consolidated statements of earnings": "(Dollars and Shares in Millions Except Per Share Amounts) (Note 1)", "FY2025 10-K consolidated balance sheets": "At December 28, 2025 and December 29, 2024 \u2014 (Dollars in Millions Except Share and Per Share Amounts) (Note 1)", "FY2025 10-K consolidated statements of comprehensive income": "(Dollars in Millions) (Note 1)", "FY2025 10-K consolidated statements of cash flows": "(Dollars in Millions) (Note 1)", "FY2025 10-K segment tables (income before tax by segment, identifiable assets, additions to PP&E, sales by geography)": "(Dollars in Millions)", "FY2026 Q2 10-Q consolidated balance sheets": "(Unaudited; Dollars in Millions Except Share and Per Share Data)", "FY2026 Q2 10-Q consolidated statements of earnings (fiscal second quarter and fiscal six months)": "(Unaudited; Dollars & Shares in Millions Except Per Share Amounts)", "FY2026 Q2 10-Q consolidated statements of cash flows": "(Unaudited; Dollars in Millions)", "FY2026 Q2 10-Q segment income before tax table": "(Dollars in Millions)", "note_on_shares": "Balance-sheet share counts (shares issued and treasury shares) are stated in the filings as full share counts, not in millions, even though the dollar columns of the same tables are in millions. Weighted average share counts on the statements of earnings ARE in millions. Both have been converted to actual shares here." }, "adjustments": { "splits_applied": [], "splits_note": "No stock splits apply to the periods reported here, so no per-share figure required split adjustment.", "adr_ratio": null, "fx": "None. Johnson & Johnson reports in U.S. dollars, so no currency conversion was applied." }, "fiscal_calendar_note": "Johnson & Johnson uses a 52/53-week fiscal year ending on the Sunday nearest to December 31. Fiscal 2025 ended December 28, 2025; fiscal 2024 ended December 29, 2024; fiscal 2023 ended December 31, 2023. The fiscal 2026 second quarter ended June 28, 2026.", "annual": [ { "fiscal_year": 2025, "period_end": "2025-12-28", "period_label": "Fiscal year 2025 (52 weeks ended December 28, 2025)", "source_accession": "0000200406-26-000016", "source_form": "10-K filed 2026-02-11", "income_statement": { "revenue": 94193000000, "cost_of_products_sold": 30256000000, "gross_profit": 63937000000, "gross_margin_pct": 67.9, "selling_marketing_and_administrative_expenses": 23676000000, "research_and_development_expense": 14665000000, "in_process_rd_impairments": 81000000, "restructuring": 228000000, "operating_income_derived": 25287000000, "interest_income": 1056000000, "interest_expense_net_of_capitalized": 971000000, "other_income_expense_net": -7209000000, "pretax_income": 32581000000, "provision_for_taxes_on_income": 5777000000, "effective_tax_rate_pct": 17.7, "net_earnings_continuing_operations": 26804000000, "net_earnings_discontinued_operations": 0, "net_income": 26804000000, "eps_basic": 11.13, 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6.87, "eps_diluted": 6.82, "weighted_average_shares_basic": 2406700000, "weighted_average_shares_diluted": 2423300000, "dividends_paid_per_share": 2.54 }, "segments": { "innovative_medicine": { "sales_to_customers": 29075000000, "cost_of_products_sold": 7998000000, "selling_marketing_and_administrative": 5050000000, "research_and_development_expense": 5417000000, "other_segment_items": -152000000, "segment_income_before_tax": 10762000000 }, "medtech": { "sales_to_customers": 16561000000, "cost_of_products_sold": 6964000000, "selling_marketing_and_administrative": 5518000000, "research_and_development_expense": 1324000000, "other_segment_items": 130000000, "segment_income_before_tax": 2625000000 }, "total_segment_income_before_tax": 13387000000, "income_expense_not_allocated_to_segments": -6735000000 }, "cash_flow": { "net_earnings": 16536000000, "depreciation_and_amortization": 3715000000, "stock_based_compensation": 698000000, "deferred_tax_provision": 2997000000, "operating_cash_flow": 8052000000, "capital_expenditures": 1838000000, "free_cash_flow_derived": 6214000000, "acquisitions_net_of_cash_acquired": 14458000000, "investing_cash_flow": -18561000000, "dividends_paid": 6118000000, "share_repurchases": 2127000000, "financing_cash_flow": 4757000000, "cash_and_cash_equivalents_end_of_period": 18577000000 } }, { "period_label": "Fiscal first quarter 2026 (13 weeks ended March 29, 2026) \u2014 derived", "period_type": "quarter_derived", "period_start": "2025-12-29", "period_end": "2026-03-29", "source_accession": "0000200406-26-000153", "source_form": "Derived by subtracting the fiscal second quarter 2026 columns from the fiscal six months 2026 columns of the 10-Q filed 2026-07-23", "income_statement": { "revenue": 24062000000, "cost_of_products_sold": 8106000000, "gross_profit": 15956000000, "research_and_development_expense": 3527000000, "pretax_income": 5990000000, "net_income": 5235000000 }, "note": "These first-quarter figures are arithmetic differences between the six-month and second-quarter columns of the FY2026 second-quarter 10-Q, not figures presented directly on the face of that filing." } ], "trailing_twelve_months": { "period_label": "Trailing twelve months ended June 28, 2026", "method": "Fiscal year 2025 (accession 0000200406-26-000016) plus fiscal six months 2026 less fiscal six months 2025 (both from accession 0000200406-26-000153)", "revenue": 97929000000, "net_income": 21037000000, "research_and_development_expense": 15104000000, "operating_cash_flow": 27608000000, "capital_expenditures": 5364000000, "free_cash_flow": 22244000000, "dividends_paid": 12621000000, "share_repurchases": 8075000000, "eps_diluted_approx": 8.62, "eps_diluted_note": "Trailing-twelve-month diluted EPS computed as fiscal 2025 diluted EPS of $11.03 plus fiscal six months 2026 diluted EPS of $4.41 less fiscal six months 2025 diluted EPS of $6.82. Because the weighted average diluted share count differs across those periods, this is an approximation rather than a figure presented in any filing." }, "notes": [ "All figures are stated in actual U.S. dollars. The filings present dollar amounts in millions and weighted average share counts in millions; those have been multiplied out here. Balance-sheet share counts (shares issued and treasury shares) are already stated as full share counts in the filings and were carried across unchanged.", "Annual coverage reflects what the FY2025 10-K (accession 0000200406-26-000016) actually presents: three years on the statements of earnings, cash flows and segment tables (fiscal 2025, 2024 and 2023), but only two years on the balance sheet (December 28, 2025 and December 29, 2024). No fiscal 2023 balance sheet is reported for that reason.", "Johnson & Johnson does not present an operating income subtotal on the face of its consolidated statements of earnings. The 'operating_income_derived' figures here are computed as gross profit less selling, marketing and administrative expenses, research and development expense, in-process research and development impairments and restructuring. Each derived figure reconciles exactly to the reported pre-tax earnings once interest income, interest expense and other (income) expense, net are added back.", "Fiscal 2023 net earnings of $35.153 billion include $21.827 billion of net earnings from discontinued operations, essentially the separation of the Consumer Health business as Kenvue, including a $20.984 billion gain on that separation. Continuing-operations net earnings for fiscal 2023 were $13.326 billion and continuing-operations diluted earnings per share were $5.20. Comparisons of fiscal 2023 total net income to later years are not like-for-like. The 10-K also states that fiscal 2023 cash flow statement amounts have not been recast to exclude discontinued operations.", "Fiscal 2025 pre-tax earnings and net earnings are flattered by $7.209 billion of net other income, the large majority of which arose in the first six months of fiscal 2025 (the 10-Q shows $7.214 billion of net other income in the fiscal six months ended June 29, 2025). This is why fiscal six months 2025 net earnings of $16.536 billion exceed fiscal six months 2026 net earnings of $10.769 billion despite higher 2026 sales. Fiscal 2024 pre-tax earnings were correspondingly depressed by $4.694 billion of net other expense and by elevated research and development expense of $17.232 billion, which included large acquired in-process research and development charges.", "Research and development expense on the face of the statement of earnings ($14.665 billion in fiscal 2025) is reported by Johnson & Johnson under a tag that excludes acquired in-process research and development costs. In the SEC's XBRL company facts, the plain 'ResearchAndDevelopmentExpense' concept is populated instead with the much smaller charge for acquired in-process research and development ($109 million in fiscal 2025, $1.841 billion in fiscal 2024, $483 million in fiscal 2023). The income statement line as printed in the filing is what is reported here.", "Total debt is not a line item in the filings; it is derived here as loans and notes payable plus long-term debt. Net debt is derived as total debt less cash and cash equivalents and marketable securities. Book value per share is derived as total shareholders' equity divided by shares issued less treasury shares.", "Cash dividends paid per share come from the consolidated statements of equity and management's discussion: $5.14 in fiscal 2025, $4.91 in fiscal 2024 and $4.70 in fiscal 2023. The fiscal 2025 10-K notes the dividend was increased for the 63rd consecutive year. The FY2026 second-quarter 10-Q shows $1.34 per share paid in the second quarter of 2026 and $2.64 for the six months, and discloses a further $1.34 per share quarterly dividend declared on July 15, 2026, payable September 8, 2026.", "A Form 8-K dated July 15, 2026 (accession 0000200406-26-000146) carried the fiscal second quarter 2026 earnings release. The 10-Q filed July 23, 2026 (accession 0000200406-26-000153) covers the same period and is the authoritative source used here; no figure in this file comes from the press release.", "The FY2026 second-quarter 10-Q discloses that in October 2025 the Company announced its intention to separate its Orthopaedics business, targeting completion within 18 to 24 months of that announcement. That business is still consolidated in every figure reported here.", "Segment 'other segment items' as reported by the Company can be negative, which reduces segment expense and raises segment income before tax. Segment income before tax for the two segments does not sum to consolidated pre-tax earnings; the difference is the income and expense the Company does not allocate to segments, reported separately here." ], "uncertainties": [ "Operating income is a derived figure, not a subtotal the Company reports. A reader who prefers to exclude restructuring, in-process research and development impairments, or intangible amortization from operating income would arrive at a different number. The components are all reported here so the derivation can be recomputed.", "Trailing-twelve-month diluted earnings per share of about $8.62 is an approximation built from three periods with different weighted average diluted share counts. Trailing-twelve-month revenue, net income and cash flow figures are exact period arithmetic and carry no such caveat.", "The fiscal first quarter 2026 figures are derived by subtracting the second-quarter column from the six-month column of the FY2026 second-quarter 10-Q. They are arithmetically sound for the lines shown but were not presented as a first-quarter column in that filing; only revenue, cost of products sold, gross profit, research and development expense, pre-tax income and net income are reported for that period here.", "Balance-sheet 'shares outstanding' is derived as shares issued less treasury shares at the balance sheet date (2,408,228,000 at June 28, 2026). The cover page of the same 10-Q reports 2,409,898,597 shares outstanding as of July 17, 2026, a later date; both are shown so the difference is visible.", "Fiscal 2023 identifiable assets by segment are not reported here because the segment identifiable-assets table in the FY2025 10-K presents only fiscal 2025 and fiscal 2024.", "Effective tax rates shown are computed as provision for taxes on income divided by earnings before provision for taxes on income, and are not the rates the Company discusses in its tax note, which reconcile to the U.S. statutory rate through a number of items." ], "company_details": { "Name": "Johnson & Johnson", "Ticker": "JNJ", "CIK": "0000200406", "Exchange": "NYSE", "State": "New Jersey", "Incorporation": "New Jersey", "SIC": "2834", "Office": "Life Sciences", "Industry": "Pharmaceutical Preparations" }, "next_filing": { "predicted_date": "2026-08-06", "predicted_type": "10-Q" }, "fiscal_period": { "fiscal_year": 2026, "fiscal_period": "Q2", "tag": "FY26Q2", "period_end": "2026-06-28", "form": "10-Q", "accession": "0000200406-26-000153", "fiscal_year_end": "0103", "source": "facts" } }