Stock Analysis on Net
Stock Analysis on Net

Johnson & Johnson (NYSE:JNJ)

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

Johnson & Johnson, common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

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Jun 28, 2026 Mar 29, 2026 Dec 28, 2025 Sep 28, 2025 Jun 29, 2025 Mar 30, 2025 Dec 29, 2024 Sep 29, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Oct 1, 2023 Jul 2, 2023 Apr 2, 2023 Dec 31, 2022 Oct 2, 2022 Jul 3, 2022 Apr 3, 2022 Dec 31, 2021 Oct 3, 2021 Jul 4, 2021 Apr 4, 2021
Loans and notes payable 5.82 8.69 4.26 3.31 5.96 7.18 3.32 2.50 5.44 4.97 2.06 2.33 6.10 9.17 6.82 2.53 2.42 2.41 2.07 2.12 1.80 1.94
Accounts payable 4.59 5.21 6.02 4.99 4.89 4.93 5.73 5.02 4.89 4.75 5.75 5.03 5.45 5.06 6.25 5.80 5.49 5.22 6.07 5.00 4.93 4.93
Accrued liabilities 4.71 3.68 4.31 3.94 3.83 4.09 4.75 6.42 5.82 6.00 6.09 6.08 5.53 5.72 6.11 6.83 7.09 7.29 7.48 7.71 5.94 7.66
Accrued rebates, returns and promotions 9.94 9.16 9.60 11.08 10.77 9.70 9.76 10.34 9.69 9.41 9.55 9.52 8.18 7.54 7.69 8.01 7.57 7.27 6.64 7.08 7.06 6.91
Accrued compensation and employee related obligations 1.73 1.45 2.28 2.06 1.71 1.32 2.29 2.03 1.57 1.27 2.38 2.01 1.60 1.14 1.78 1.72 1.53 1.18 1.97 1.76 1.54 1.19
Accrued taxes on income 0.52 0.54 0.70 1.00 0.86 2.18 2.09 2.71 2.38 1.93 1.79 1.75 1.40 2.18 1.14 1.13 1.11 0.96 0.61 1.21 0.68 1.09
Current liabilities 27.30% 28.73% 27.17% 26.38% 28.02% 29.38% 27.94% 29.03% 29.78% 28.33% 27.62% 26.72% 28.26% 30.81% 29.78% 26.01% 25.22% 24.33% 24.85% 24.86% 21.95% 23.72%
Long-term debt, excluding current portion 18.57 18.68 19.80 20.44 20.29 19.80 17.02 17.55 17.47 14.59 15.45 15.69 17.69 17.82 14.35 15.76 15.92 16.18 16.47 16.81 17.18 17.54
Deferred taxes on income 3.29 3.49 3.41 3.11 1.96 1.25 1.36 1.66 1.46 1.84 1.91 1.58 1.89 2.25 3.40 2.82 2.82 3.60 4.11 3.99 5.11 3.77
Employee related obligations 3.31 3.36 3.49 3.59 3.63 3.64 4.03 3.84 3.82 4.08 4.27 3.42 3.37 3.40 3.61 4.77 4.81 4.90 4.89 5.67 5.88 6.09
Long-term taxes payable 0.24 0.24 0.24 0.22 0.22 0.20 0.22 0.20 0.19 1.68 1.72 1.53 1.32 2.19 2.30 2.38 2.34 3.22 3.14 3.22 3.24 3.81
Other liabilities 5.02 5.08 4.95 5.15 5.31 5.39 9.74 8.37 7.78 8.76 8.00 8.17 7.61 7.36 5.57 5.66 5.92 5.89 5.87 6.24 7.21 6.92
Non-current liabilities 30.44% 30.86% 31.90% 32.50% 31.41% 30.29% 32.37% 31.62% 30.71% 30.95% 31.33% 30.39% 31.88% 33.03% 29.23% 31.40% 31.82% 33.78% 34.49% 35.93% 38.62% 38.13%
Total liabilities 57.74% 59.59% 59.07% 58.88% 59.42% 59.67% 60.31% 60.65% 60.50% 59.28% 58.96% 57.11% 60.14% 63.84% 59.01% 57.40% 57.04% 58.11% 59.33% 60.79% 60.56% 61.85%
Common stock, par value $1.00 per share 1.55 1.55 1.57 1.62 1.61 1.61 1.73 1.75 1.72 1.81 1.86 1.88 1.63 1.59 1.67 1.78 1.76 1.75 1.71 1.74 1.77 1.81
Accumulated other comprehensive loss -6.94 -7.38 -7.49 -7.90 -7.40 -6.06 -6.52 -7.02 -6.21 -6.26 -7.48 -5.29 -6.85 -6.44 -6.92 -8.73 -7.79 -7.71 -7.17 -8.60 -8.56 -8.88
Retained earnings and Additional paid-in capital 85.38 84.20 84.82 86.76 85.51 83.97 86.50 87.04 85.79 89.19 91.81 91.86 67.50 63.56 68.50 73.04 71.02 69.74 67.61 67.56 68.10 67.52
Common stock held in treasury, at cost -37.73 -37.96 -37.96 -39.36 -39.15 -39.19 -42.02 -42.41 -41.80 -44.03 -45.16 -45.55 -23.07 -22.55 -22.25 -23.50 -22.02 -21.89 -21.48 -21.49 -21.87 -22.29
Total Johnson & Johnson shareholders’ equity 42.26% 40.41% 40.93% 41.12% 40.58% 40.33% 39.69% 39.35% 39.50% 40.72% 41.04% 42.89% 39.20% 36.16% 40.99% 42.60% 42.96% 41.89% 40.67% 39.21% 39.44% 38.15%
Equity attributable to non-controlling interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.66 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total equity 42.26% 40.41% 40.93% 41.12% 40.58% 40.33% 39.69% 39.35% 39.50% 40.72% 41.04% 42.89% 39.86% 36.16% 40.99% 42.60% 42.96% 41.89% 40.67% 39.21% 39.44% 38.15%
Total liabilities and shareholders’ equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2026-06-28), 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 capital structure is characterized by a consistent reliance on liabilities, which generally fluctuate between 57% and 64% of total liabilities and shareholders' equity. Total equity remains relatively stable over the analyzed period, typically oscillating around 40%, suggesting a balanced approach to financing assets through a mix of debt and equity.

Current Liability Trends
Current liabilities exhibit a general upward trajectory, moving from 23.72% in early 2021 to a peak of 30.81% in April 2023, before stabilizing between 26% and 29%. A significant driver of this increase is the steady rise in accrued rebates, returns, and promotions, which grew from 6.91% to a peak of 11.08% in September 2025. Conversely, accrued liabilities showed a gradual decline, falling from 7.66% to approximately 4.71% by June 2026.
Debt and Long-Term Obligations
Loans and notes payable demonstrate high volatility, characterized by periodic spikes. While values remained below 3% for much of 2021 and 2022, significant increases were observed in April 2023 (9.17%), March 2025 (7.18%), and March 2026 (8.69%). Long-term debt, excluding the current portion, remained stable around 16-17% until 2024, after which it increased to a range of 18% to 20%, indicating a shift toward longer-term leverage. Notably, long-term taxes payable decreased drastically from 3.81% to 0.24% over the period.
Equity and Capital Management
Total equity remained resilient, ending the period at 42.26%. A profound shift in the components of equity occurred starting in October 2023, where retained earnings and additional paid-in capital surged from approximately 67% to peaks above 91%. This was accompanied by a substantial increase in common stock held in treasury, which expanded from -22.29% to a low of -45.55% in October 2023, before moderating to roughly -37.73% by June 2026. This pattern suggests an aggressive program of share repurchases offset by strong retained earnings.
Non-Current Liability Dynamics
Non-current liabilities experienced a general contraction from a high of 38.62% in July 2021 to 30.44% by June 2026. This reduction is primarily attributed to the decline in long-term taxes payable and a reduction in employee-related obligations, which fell from 6.09% to 3.31%. These declines were partially offset by the aforementioned increase in long-term debt during the latter half of the period.

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