Stock Analysis on Net

Johnson & Johnson (NYSE:JNJ)

$24.99

Price to Sales (P/S)
since 2005

Microsoft Excel

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Calculation

Johnson & Johnson, P/S, 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 experienced fluctuations over the period analyzed. Initially, it rose from $59.29 in early 2006 to a peak of $65.1 in 2012. It then increased more markedly, reaching a high point of $166.19 in early 2022. However, following this peak, the share price declined somewhat to $156.55 by early 2024, before stabilizing slightly at $157.25 in early 2025. Overall, the long-term trend shows significant growth despite intermediate volatility.
Sales Per Share Pattern
Sales per share showed a consistent upward trend throughout the period, beginning at $16.97 in 2006 and reaching $36.89 in 2025. Some minor year-to-year variations were observed, such as a slight decline from $26.73 in 2015 to $25.4 in 2016, yet the general direction remained positive. This indicates improving sales performance on a per-share basis over time.
Price-to-Sales Ratio (P/S) Dynamics
The P/S ratio exhibited variability but generally trended upwards from 3.49 in 2006 to a peak of 5.15 in 2021. After this peak, the ratio declined to 4.26 by 2025. This pattern suggests that the market valuation relative to sales increased significantly over most of the period, reflecting heightened investor confidence or expectations, before experiencing a moderate correction in the final years.
Overall Observations
The data suggest that while sales per share steadily increased, the share price showed more pronounced volatility with an overall upward trajectory. The rising P/S ratio for much of the period implies that the market increasingly valued each unit of sales, but the recent decline in the ratio may point to shifting market perceptions or valuation adjustments. The combination of growing sales and fluctuating valuation ratios provides insight into the company’s evolving market position and investor sentiment over time.

Comparison to Competitors

Johnson & Johnson, P/S, 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/S, 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)