Price to Sales (P/S)
since 2005
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Johnson & Johnson pages available for free this week:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- Common-Size Balance Sheet: Assets
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Equity (ROE) since 2005
- Return on Assets (ROA) since 2005
- Debt to Equity since 2005
- Price to Book Value (P/BV) since 2005
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Calculation
Johnson & Johnson, P/S, long-term trends, calculation
| P/S | = | Share price1, 2, 3 | ÷ | Sales per share1 | Sales per share1 | = | Sales to customers1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 11, 2026 | = | ÷ | = | ÷ | |||||||
| Feb 13, 2025 | = | ÷ | = | ÷ | |||||||
| Feb 16, 2024 | = | ÷ | = | ÷ | |||||||
| Feb 16, 2023 | = | ÷ | = | ÷ | |||||||
| Feb 17, 2022 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 18, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 20, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 21, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 21, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 23, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2011 | = | ÷ | = | ÷ | |||||||
| Mar 1, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 20, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2008 | = | ÷ | = | ÷ | |||||||
| Feb 21, 2007 | = | ÷ | = | ÷ | |||||||
| Mar 14, 2006 | = | ÷ | = | ÷ |
Based on: 10-K (reporting date: 2025-12-28), 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.
The price-to-sales (P/S) ratio, calculated from the provided share price and sales per share figures, exhibits a fluctuating pattern over the observed period from 2006 to 2026. Initial values indicate a relatively stable P/S ratio in the mid-3s, followed by a decline and subsequent increase, culminating in a significant rise towards the end of the period.
- Initial Period (2006-2008)
- The P/S ratio began at 3.49 in 2006, increased slightly to 3.53 in 2007, and then decreased to 2.95 in 2008. This suggests a period of initial stability followed by a modest contraction in valuation relative to sales.
- Decline and Recovery (2009-2011)
- A more pronounced decline occurred between 2008 and 2009, with the P/S ratio falling to 2.37. The ratio then experienced a recovery, rising to 2.82 in 2010 and 2.65 in 2011, indicating a potential market reassessment or improved investor confidence.
- Moderate Growth (2012-2015)
- From 2012 to 2015, the P/S ratio demonstrated a consistent upward trend, moving from 2.75 to 3.77. This period reflects increasing investor willingness to pay for each dollar of sales, potentially driven by improved company performance or market conditions. The rate of increase accelerated between 2013 and 2015.
- Plateau and Further Increase (2016-2021)
- The P/S ratio reached a peak of 4.79 in 2020, after a period of fluctuation between 4.13 and 4.62 from 2016 to 2019. The ratio then increased from 4.79 to 5.15 in 2021, suggesting continued positive market sentiment. This period shows a generally elevated valuation relative to sales.
- Recent Trends (2022-2026)
- A decrease to 4.66 was observed in 2022, followed by a further decline to 4.34 in 2023. However, a substantial increase to 6.16 occurred in 2026. This recent volatility suggests a significant shift in market perception or underlying business fundamentals. The final value represents a considerable premium compared to historical levels.
Overall, the P/S ratio has demonstrated considerable variability over the analyzed timeframe. While periods of stability and moderate growth were observed, the most recent years show a marked increase, warranting further investigation into the factors driving this change. The significant jump in 2026 is particularly noteworthy and could be indicative of heightened growth expectations or a change in investor sentiment.
Comparison to Competitors
Johnson & Johnson, P/S, long-term trends, comparison to competitors
| Johnson & Johnson | AbbVie Inc. | Amgen Inc. | Bristol-Myers Squibb Co. | Danaher Corp. | Eli Lilly & Co. | Gilead Sciences Inc. | Merck & Co. Inc. | Pfizer Inc. | Regeneron Pharmaceuticals Inc. | Thermo Fisher Scientific Inc. | Vertex Pharmaceuticals Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 11, 2026 | ||||||||||||
| Feb 13, 2025 | ||||||||||||
| Feb 16, 2024 | ||||||||||||
| Feb 16, 2023 | ||||||||||||
| Feb 17, 2022 | ||||||||||||
| Feb 22, 2021 | ||||||||||||
| Feb 18, 2020 | ||||||||||||
| Feb 20, 2019 | ||||||||||||
| Feb 21, 2018 | ||||||||||||
| Feb 27, 2017 | ||||||||||||
| Feb 24, 2016 | ||||||||||||
| Feb 24, 2015 | ||||||||||||
| Feb 21, 2014 | ||||||||||||
| Feb 22, 2013 | ||||||||||||
| Feb 23, 2012 | ||||||||||||
| Feb 25, 2011 | ||||||||||||
| Mar 1, 2010 | ||||||||||||
| Feb 20, 2009 | ||||||||||||
| Feb 26, 2008 | ||||||||||||
| Feb 21, 2007 | ||||||||||||
| Mar 14, 2006 |
Based on: 10-K (reporting date: 2025-12-28), 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/S, long-term trends, comparison to sector (pharmaceuticals, biotechnology & life sciences)
| Johnson & Johnson | Pharmaceuticals, Biotechnology & Life Sciences | |
|---|---|---|
| Feb 11, 2026 | ||
| Feb 13, 2025 | ||
| Feb 16, 2024 | ||
| Feb 16, 2023 | ||
| Feb 17, 2022 | ||
| Feb 22, 2021 | ||
| Feb 18, 2020 | ||
| Feb 20, 2019 | ||
| Feb 21, 2018 | ||
| Feb 27, 2017 | ||
| Feb 24, 2016 | ||
| Feb 24, 2015 | ||
| Feb 21, 2014 | ||
| Feb 22, 2013 | ||
| Feb 23, 2012 | ||
| Feb 25, 2011 | ||
| Mar 1, 2010 | ||
| Feb 20, 2009 | ||
| Feb 26, 2008 | ||
| Feb 21, 2007 | ||
| Mar 14, 2006 |
Based on: 10-K (reporting date: 2025-12-28), 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)
Johnson & Johnson, P/S, long-term trends, comparison to industry (health care)
| Johnson & Johnson | Health Care | |
|---|---|---|
| Feb 11, 2026 | ||
| Feb 13, 2025 | ||
| Feb 16, 2024 | ||
| Feb 16, 2023 | ||
| Feb 17, 2022 | ||
| Feb 22, 2021 | ||
| Feb 18, 2020 | ||
| Feb 20, 2019 | ||
| Feb 21, 2018 | ||
| Feb 27, 2017 | ||
| Feb 24, 2016 | ||
| Feb 24, 2015 | ||
| Feb 21, 2014 | ||
| Feb 22, 2013 | ||
| Feb 23, 2012 | ||
| Feb 25, 2011 | ||
| Mar 1, 2010 | ||
| Feb 20, 2009 | ||
| Feb 26, 2008 | ||
| Feb 21, 2007 | ||
| Mar 14, 2006 |
Based on: 10-K (reporting date: 2025-12-28), 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).