Common-Size Balance Sheet: Assets
Quarterly Data
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- Statement of Comprehensive Income
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Solvency Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value (EV)
- Return on Assets (ROA) since 2005
- Current Ratio since 2005
- Debt to Equity since 2005
- Price to Earnings (P/E) since 2005
- Price to Book Value (P/BV) since 2005
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Johnson & Johnson, common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2026-03-29), 10-K (reporting date: 2025-12-28), 10-Q (reporting date: 2025-09-28), 10-Q (reporting date: 2025-06-29), 10-Q (reporting date: 2025-03-30), 10-K (reporting date: 2024-12-29), 10-Q (reporting date: 2024-09-29), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-10-01), 10-Q (reporting date: 2023-07-02), 10-Q (reporting date: 2023-04-02), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-02), 10-Q (reporting date: 2022-07-03), 10-Q (reporting date: 2022-04-03), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-03), 10-Q (reporting date: 2021-07-04), 10-Q (reporting date: 2021-04-04).
The asset composition demonstrates a consistent reliance on non-current assets, which typically represent between 63% and 72% of the total balance sheet. Current assets fluctuate between 28% and 37%, reflecting periodic shifts in liquidity and working capital requirements. A general trend of diversification in short-term holdings and a gradual reduction in the relative weight of intangible assets are observable over the analyzed period.
- Liquidity and Cash Management
- A significant transition in liquidity strategy is evident. Marketable securities, which peaked at 12.98% of total assets in October 2022, experienced a precipitous decline, falling to below 0.20% by 2024 and 2025. Conversely, cash and cash equivalents show high volatility, peaking at 19.87% in March 2025 before stabilizing around 10.80% by March 2026. This suggests a strategic shift from invested securities toward more immediate cash availability.
- Working Capital Dynamics
- Accounts receivable remain relatively stable, generally oscillating between 8.2% and 9.2% of total assets. Inventories, however, exhibit a gradual upward trajectory, increasing from approximately 5.7% in early 2021 to 7.26% by March 2026, indicating a larger proportion of capital tied up in stock. Prepaid expenses and other current assets remained low and stable, typically ranging between 1.2% and 2.7%.
- Long-Term Asset Trends
- Net property, plant, and equipment (PPE) maintain a consistent presence, hovering between 10% and 12% of total assets. There is a notable downward trend in net intangible assets, which decreased from 29.62% in April 2021 to 24.42% by March 2026, although a temporary spike occurred in mid-2025. Goodwill remains a substantial component of the asset base, fluctuating between 19% and 25%, with an increase observed starting in late 2022.
- Other Non-Current Components
- Deferred taxes on income show a steady decline in their relative weight, moving from a high of 6.12% in July 2021 down to 3.35% by March 2026. Other assets have seen a moderate increase over the period, rising from 3.79% to 7.02%, contributing to the overall stability of the non-current asset ratio.
The overall asset profile indicates a transition toward a more cash-heavy liquidity position and a slight increase in inventory levels, while the long-term asset base remains dominated by goodwill and intangible assets. The contraction of deferred tax assets and marketable securities suggests a restructuring of the balance sheet to prioritize immediate liquidity and core operational assets.