Stock Analysis on Net

Johnson & Johnson (NYSE:JNJ)

$24.99

Price to Book Value (P/BV)
since 2005

Microsoft Excel

Paying user area


We accept:

Visa Mastercard American Express Maestro Discover JCB PayPal Google Pay
Visa Secure Mastercard Identity Check American Express SafeKey

Calculation

Johnson & Johnson, P/BV, long-term trends, calculation

Microsoft Excel

Based on: 10-K (reporting date: 2024-12-29), 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), 10-K (reporting date: 2018-12-30), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-28), 10-K (reporting date: 2013-12-29), 10-K (reporting date: 2012-12-30), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-28), 10-K (reporting date: 2007-12-30), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

1 US$

2 Data adjusted for splits and stock dividends.

3 Closing price as at the filing date of Johnson & Johnson Annual Report.


Share price trend
The share price exhibited overall growth from 59.29 US$ in early 2006 to a peak near 166.19 US$ in early 2022, demonstrating a general upward trajectory over the analyzed period. Notable fluctuations include a decline from 65 in 2007 to 54.65 in 2009, likely reflecting broader market conditions. Following 2009, there was a consistent rise until early 2022, with a mild decrease observed in the years 2023 and 2024, settling around 156-158 US$.
Book value per share (BVPS) trend
Book value per share increased steadily from 12.73 US$ in 2006 to approximately 29.69 US$ in early 2025. There were minor fluctuations, such as a slight dip from 26.18 US$ in 2014 to 25.09 US$ in 2015, but overall the trend showed consistent growth in shareholder equity value, reflecting the company’s strengthening balance sheet over time.
Price-to-Book Value (P/BV) ratio analysis
The P/BV ratio started relatively high at around 4.66 in 2006, dropped to a low of 2.88 in 2011, signaling a period when the stock price was closer to book value and potentially undervalued. Subsequently, it increased significantly, reaching a peak above 6.7 in 2021, suggesting that the market valued the company’s shares at a premium compared to book value. After 2021, the ratio declined moderately to around 5.3 by early 2025, indicating a slight moderation in valuation multiples but remaining at elevated levels.
Summary of insights
The data reveals a robust expansion in both share price and book value per share, highlighting sustained growth and improved financial strength over the years. The movement of the P/BV ratio indicates changing investor sentiment and valuation dynamics, with periods of both conservative and optimistic market views. The recent moderation in the price multiple ratio could indicate a more cautious market outlook or normalization following a period of high valuations.

Comparison to Competitors

Johnson & Johnson, P/BV, long-term trends, comparison to competitors

Microsoft Excel

Based on: 10-K (reporting date: 2024-12-29), 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), 10-K (reporting date: 2018-12-30), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-28), 10-K (reporting date: 2013-12-29), 10-K (reporting date: 2012-12-30), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-28), 10-K (reporting date: 2007-12-30), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).


Comparison to Sector (Pharmaceuticals, Biotechnology & Life Sciences)

Johnson & Johnson, P/BV, long-term trends, comparison to sector (pharmaceuticals, biotechnology & life sciences)

Microsoft Excel

Based on: 10-K (reporting date: 2024-12-29), 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), 10-K (reporting date: 2018-12-30), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-28), 10-K (reporting date: 2013-12-29), 10-K (reporting date: 2012-12-30), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-28), 10-K (reporting date: 2007-12-30), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).


Comparison to Industry (Health Care)