Stock Analysis on Net
Stock Analysis on Net

Johnson & Johnson (NYSE:JNJ)

Common-Size Income Statement

Johnson & Johnson, common-size consolidated income statement

Microsoft Excel
12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 29, 2019
Sales to customers 100.00 100.00 100.00 100.00 100.00
Cost of products sold -31.18 -32.74 -31.84 -34.42 -33.58
Gross profit 68.82% 67.26% 68.16% 65.58% 66.42%
Selling, marketing and administrative expenses -25.26 -26.08 -26.30 -26.74 -27.03
Research and development expense -17.71 -15.38 -15.69 -14.72 -13.84
In-process research and development impairments -0.37 -0.82 -0.96 -0.22 -1.08
Restructuring -0.57 -0.34 -0.27 -0.30 -0.32
Operating earnings 24.90% 24.63% 24.95% 23.60% 24.15%
Interest income 1.48 0.52 0.06 0.13 0.44
Interest expense, net of portion capitalized -0.91 -0.29 -0.20 -0.24 -0.39
Other income (expense), net -7.79 -1.97 -0.52 -3.51 -3.08
Earnings before provision for taxes on income 17.69% 22.88% 24.29% 19.98% 21.12%
Provision for taxes on income -2.04 -3.99 -2.02 -2.16 -2.69
Net earnings from continuing operations 15.65% 18.90% 22.26% 17.82% 18.42%
Net earnings from discontinued operations, net of tax 25.63 0.00 0.00 0.00 0.00
Net earnings 41.28% 18.90% 22.26% 17.82% 18.42%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29).

Income statement item Description The company
Operating earnings The net result for the period of deducting operating expenses from operating revenues. Johnson & Johnson operating earnings as a percentage of sales to customers decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.
Earnings before provision for taxes on income Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Johnson & Johnson earnings before provision for taxes on income as a percentage of sales to customers decreased from 2021 to 2022 and from 2022 to 2023.
Net earnings The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Johnson & Johnson net earnings as a percentage of sales to customers decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.