Common-Size Income Statement
Quarterly Data
Paying user area
Try for free
Johnson & Johnson pages available for free this week:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Geographic Areas
- Enterprise Value to FCFF (EV/FCFF)
- Selected Financial Data since 2005
- Net Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Debt to Equity since 2005
- Total Asset Turnover since 2005
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Johnson & Johnson for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
Johnson & Johnson, common-size consolidated income statement (quarterly data)
Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29).
- Cost of products sold
- The cost of products sold as a percentage of sales demonstrates a general downward trend from approximately 34% in early 2020 to around 30% in mid-2024, suggesting an improvement in cost efficiency over the period. However, there is some volatility and an uptick to about 33.6% in the first quarter of 2025, indicating occasional increases in production costs or pricing pressures.
- Gross profit
- Gross profit relative to sales exhibits a largely stable and slightly increasing trend, rising from about 66% in early 2020 to close to 69-70% in mid to late 2023 and maintaining above 66% into 2025. This reflects the impact of improved cost management and potentially favorable sales mix or pricing strategies.
- Selling, marketing and administrative expenses
- Expenditures in selling, marketing, and administrative areas fluctuate between approximately 23% and 29% of sales, with some quarters showing declines to below 24% and others rising above 28%. The variability indicates non-linear spending possibly linked to strategic marketing initiatives or administrative adjustments.
- Research and development expense
- Investment in research and development remains significant and somewhat volatile, oscillating mainly between 14% and 23% of sales. Spikes above 20%, notably in late 2023 and parts of 2024, suggest intensified focus on innovation or new product development cycles.
- In-process research and development impairments
- Impairments related to in-process research and development are sporadic and generally low in magnitude, with some quarters showing no impairments and others displaying minor negative percentages, indicating occasional write-downs of R&D assets that have a limited impact on overall expense structure.
- Restructuring
- Restructuring costs are consistently low but present across most periods, typically ranging from approximately 0.1% to 0.7% of sales, with isolated occurrences of very minor positive values. This suggests ongoing efforts to optimize organizational structure and operating efficiencies.
- Operating earnings
- Operating earnings as a percentage of sales show a generally positive but fluctuating pattern, with peaks around 28-29% in mid-2021 and 2024, and troughs dropping near 16-18% in some quarters including late 2020 and early 2025. These variations may relate to changes in revenue mix, expense volatility, or temporary operational challenges.
- Interest income and expense
- Interest income trends upward over time, starting near 0.3% of sales in early 2020 and reaching values above 1.5% by late 2023 and mid-2024, indicating improved returns on cash or investment holdings. In contrast, net interest expense remains low and occasionally negative, reflecting effective interest management and capital structure optimization.
- Other income (expense), net
- Other income and expenses display high volatility, with sharp negative spikes in early 2023 and intermittent positive recoveries, including an anomalous large positive value in the first quarter of 2025. This volatility suggests one-time gains or losses, foreign exchange impacts, or asset dispositions affecting net income unpredictably.
- Earnings before taxes
- Earnings before tax show a mixed pattern with periods of strength exceeding 30% of sales, especially in early 2021 and early 2025, contrasted with negative or single-digit positive quarters notably at the end of 2020 and early 2023. The variability highlights sensitivity to operating results and non-operating items.
- Taxes on income
- The effective tax provision generally ranges between approximately 1% and 5% of sales, but includes notable exceptions with negative tax impacts in some quarters, suggesting occasional tax benefits or adjustments. The variability signals fluctuating tax strategies or the impact of deferred tax items.
- Net earnings from continuing operations
- Net earnings from continuing operations reflect considerable variability, moving from highs around 28% in early 2020 down to lows under 10% during 2023, with intermittent recoveries in subsequent quarters. Overall, the pattern indicates sensitivity to operating and non-operating fluctuations, with a partial recovery in profitability toward 2025.
- Net earnings from discontinued operations
- Discontinued operations appear negligible for most periods, except for isolated spikes such as a significant gain in late 2023 and large gain followed by a loss in early 2024, indicating occasional material disposals or restructuring of business units impacting net income.
- Total net earnings
- Total net earnings broadly mirror the trends of net earnings from continuing operations, with pronounced volatility including very large positive spikes in late 2023 primarily due to discontinued operations and other income swings. The pattern points to episodic financial impacts from non-recurring items influencing overall profitability.