Return on Assets (ROA)
since 2005
Calculation
Johnson & Johnson, ROA, long-term trends, calculation
| ROA | = | 100 | × | Net earnings1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|---|---|
| Dec 28, 2025 | 13.46% | = | 100 | × | 26,804) | ÷ | 199,210) |
| Dec 29, 2024 | 7.81% | = | 100 | × | 14,066) | ÷ | 180,104) |
| Dec 31, 2023 | 20.98% | = | 100 | × | 35,153) | ÷ | 167,558) |
| Dec 31, 2022 | 9.57% | = | 100 | × | 17,941) | ÷ | 187,378) |
| Dec 31, 2021 | 11.47% | = | 100 | × | 20,878) | ÷ | 182,018) |
| Dec 31, 2020 | 8.41% | = | 100 | × | 14,714) | ÷ | 174,894) |
| Dec 29, 2019 | 9.59% | = | 100 | × | 15,119) | ÷ | 157,728) |
| Dec 30, 2018 | 10.00% | = | 100 | × | 15,297) | ÷ | 152,954) |
| Dec 31, 2017 | 0.83% | = | 100 | × | 1,300) | ÷ | 157,303) |
| Dec 31, 2016 | 11.71% | = | 100 | × | 16,540) | ÷ | 141,208) |
| Dec 31, 2015 | 11.55% | = | 100 | × | 15,409) | ÷ | 133,411) |
| Dec 28, 2014 | 12.45% | = | 100 | × | 16,323) | ÷ | 131,119) |
| Dec 29, 2013 | 10.42% | = | 100 | × | 13,831) | ÷ | 132,683) |
| Dec 30, 2012 | 8.94% | = | 100 | × | 10,853) | ÷ | 121,347) |
| Dec 31, 2011 | 8.51% | = | 100 | × | 9,672) | ÷ | 113,644) |
| Dec 31, 2010 | 12.96% | = | 100 | × | 13,334) | ÷ | 102,908) |
| Dec 31, 2009 | 12.95% | = | 100 | × | 12,266) | ÷ | 94,682) |
| Dec 28, 2008 | 15.25% | = | 100 | × | 12,949) | ÷ | 84,912) |
| Dec 30, 2007 | 13.06% | = | 100 | × | 10,576) | ÷ | 80,954) |
| Dec 31, 2006 | 15.67% | = | 100 | × | 11,053) | ÷ | 70,556) |
| Dec 31, 2005 | 17.94% | = | 100 | × | 10,411) | ÷ | 58,025) |
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$ in millions
The return on assets (ROA) exhibited considerable fluctuation over the period examined, ranging from a low of 0.83% to a high of 20.98%. Initial years demonstrated a generally decreasing trend, followed by a period of relative stability, and then a significant outlier in the most recent year.
- Initial Decline (2005-2009)
- From 2005 to 2009, the ROA experienced a noticeable decline. Starting at 17.94% in 2005, it decreased to 12.95% by 2009. This period coincided with increasing total assets, while net earnings remained relatively stable, suggesting a dilution of returns as the asset base expanded.
- Period of Stability (2010-2017)
- Between 2010 and 2017, the ROA fluctuated within a narrower range, generally between 8.51% and 12.96%. While some annual variation existed, the overall trend remained relatively flat. Net earnings and total assets both increased during this time, but at rates that largely maintained the ROA within this band. A significant drop to 0.83% occurred in 2017, representing a substantial deviation from the preceding years.
- Recovery and Outlier (2018-2025)
- Following the low in 2017, the ROA showed a recovery, reaching 10.00% in 2018. It continued to fluctuate, with values ranging from approximately 7.81% to 13.46% between 2018 and 2024. However, 2023 witnessed a dramatic increase to 20.98%, significantly exceeding all prior values in the examined period. This surge appears to be driven by a substantial increase in net earnings, while total assets decreased. The most recent value, in 2025, shows a decrease from the 2023 peak, but remains at a relatively healthy 13.46%.
The substantial increase in ROA in 2023 warrants further investigation to understand the underlying drivers and assess the sustainability of this performance. The earlier decline and subsequent stabilization suggest a period of strategic adjustment or external factors influencing profitability relative to asset deployment. The volatility observed throughout the period indicates sensitivity to changes in both net earnings and the size of the asset base.
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Comparison to Competitors
Johnson & Johnson, ROA, 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. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dec 28, 2025 | 13.46% | 3.15% | 8.51% | 7.83% | 4.33% | 18.35% | 14.42% | 13.34% | 3.73% | 11.11% | 6.08% | 15.42% |
| Dec 29, 2024 | 7.81% | 3.17% | 4.45% | -9.66% | 5.03% | 13.45% | 0.81% | 14.62% | 3.76% | 11.69% | 6.51% | -2.38% |
| Dec 31, 2023 | 20.98% | 3.61% | 6.91% | 8.43% | 5.64% | 8.19% | 9.12% | 0.34% | 0.94% | 11.95% | 6.07% | 15.92% |
| Dec 31, 2022 | 9.57% | 8.53% | 10.06% | 6.53% | 8.55% | 12.62% | 7.27% | 13.30% | 15.91% | 14.85% | 7.15% | 18.30% |
| Dec 31, 2021 | 11.47% | 7.88% | 9.63% | 6.40% | 7.73% | 11.44% | 9.16% | 12.35% | 12.11% | 31.75% | 8.12% | 17.44% |
| Dec 31, 2020 | 8.41% | 3.07% | 11.54% | -7.61% | 4.79% | 13.28% | 0.18% | 7.72% | 6.23% | 20.47% | 9.23% | 23.07% |
| Dec 29, 2019 | 9.59% | 8.84% | 13.13% | 2.65% | 4.85% | 21.17% | 8.74% | 11.66% | 9.72% | 14.29% | 6.33% | 14.15% |
| Dec 30, 2018 | 10.00% | 9.58% | 12.64% | 14.06% | 5.54% | 7.36% | 8.57% | 7.53% | 7.00% | 20.83% | 5.22% | 33.57% |
| Dec 31, 2017 | 0.83% | 7.50% | 2.48% | 3.00% | 5.34% | -0.45% | 6.58% | 2.72% | 12.40% | 13.67% | 3.93% | 7.43% |
| Dec 31, 2016 | 11.71% | 9.01% | 9.95% | 13.22% | 5.64% | 7.05% | 23.70% | 4.11% | 4.20% | 12.84% | 4.40% | -3.87% |
| Dec 31, 2015 | 11.55% | 9.70% | 9.69% | 4.93% | 6.96% | 6.77% | 34.93% | 4.36% | 4.16% | 11.34% | 4.83% | -22.26% |
| Dec 28, 2014 | 12.45% | 6.44% | 7.47% | 5.94% | 7.02% | 6.43% | 34.91% | 12.12% | 5.40% | 8.99% | 4.42% | -31.63% |
| Dec 29, 2013 | 10.42% | 14.14% | 7.68% | 6.64% | 7.77% | 13.29% | 13.67% | 4.17% | 12.78% | 14.38% | 4.00% | -19.19% |
| Dec 30, 2012 | 8.94% | 19.53% | 8.00% | 5.46% | 7.26% | 11.89% | 12.20% | 5.81% | 7.84% | 36.06% | 4.29% | -3.88% |
| Dec 31, 2011 | 8.51% | — | 7.54% | 11.25% | 7.25% | 12.92% | 16.20% | 5.97% | 5.32% | -16.75% | 4.96% | 1.34% |
| Dec 31, 2010 | 12.96% | — | 10.64% | 9.98% | 8.07% | 16.35% | 25.03% | 0.81% | 4.23% | -9.59% | 4.85% | -43.74% |
| Dec 31, 2009 | 12.95% | — | 11.62% | 34.22% | 5.88% | 15.76% | 27.18% | 11.51% | 4.05% | -9.15% | 3.93% | -32.84% |
| Dec 28, 2008 | 15.25% | — | 11.51% | 17.76% | 7.53% | -7.09% | 28.65% | 16.54% | 7.29% | -12.34% | 4.71% | -46.90% |
| Dec 30, 2007 | 13.06% | — | 9.14% | 8.27% | 7.84% | 11.02% | 27.68% | 6.77% | 7.07% | -11.28% | 3.59% | -65.05% |
| Dec 31, 2006 | 15.67% | — | 8.73% | 6.20% | 8.72% | 12.13% | -29.12% | 9.95% | 16.84% | -17.49% | 0.79% | -22.45% |
| Dec 31, 2005 | 17.94% | — | 12.54% | 10.66% | 9.80% | 8.05% | 21.62% | 10.33% | 6.88% | -22.54% | 5.25% | -37.05% |
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, ROA, long-term trends, comparison to sector (pharmaceuticals, biotechnology & life sciences)
| Johnson & Johnson | Pharmaceuticals, Biotechnology & Life Sciences | |
|---|---|---|
| Dec 28, 2025 | 13.46% | 9.28% |
| Dec 29, 2024 | 7.81% | 5.30% |
| Dec 31, 2023 | 20.98% | 7.25% |
| Dec 31, 2022 | 9.57% | 10.67% |
| Dec 31, 2021 | 11.47% | 10.42% |
| Dec 31, 2020 | 8.41% | 5.45% |
| Dec 29, 2019 | 9.59% | 9.02% |
| Dec 30, 2018 | 10.00% | 8.97% |
| Dec 31, 2017 | 0.83% | 5.28% |
| Dec 31, 2016 | 11.71% | 8.61% |
| Dec 31, 2015 | 11.55% | 8.93% |
| Dec 28, 2014 | 12.45% | 9.45% |
| Dec 29, 2013 | 10.42% | 9.46% |
| Dec 30, 2012 | 8.94% | 8.30% |
| Dec 31, 2011 | 8.51% | 7.30% |
| Dec 31, 2010 | 12.96% | 7.07% |
| Dec 31, 2009 | 12.95% | 10.02% |
| Dec 28, 2008 | 15.25% | 10.37% |
| Dec 30, 2007 | 13.06% | 8.86% |
| Dec 31, 2006 | 15.67% | 11.91% |
| Dec 31, 2005 | 17.94% | 10.42% |
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, ROA, long-term trends, comparison to industry (health care)
| Johnson & Johnson | Health Care | |
|---|---|---|
| Dec 28, 2025 | 13.46% | 7.89% |
| Dec 29, 2024 | 7.81% | 5.73% |
| Dec 31, 2023 | 20.98% | 7.19% |
| Dec 31, 2022 | 9.57% | 9.66% |
| Dec 31, 2021 | 11.47% | 9.46% |
| Dec 31, 2020 | 8.41% | 5.81% |
| Dec 29, 2019 | 9.59% | 8.32% |
| Dec 30, 2018 | 10.00% | 7.90% |
| Dec 31, 2017 | 0.83% | 5.19% |
| Dec 31, 2016 | 11.71% | 7.31% |
| Dec 31, 2015 | 11.55% | 7.71% |
| Dec 28, 2014 | 12.45% | 8.59% |
| Dec 29, 2013 | 10.42% | 8.76% |
| Dec 30, 2012 | 8.94% | 8.09% |
| Dec 31, 2011 | 8.51% | 7.36% |
| Dec 31, 2010 | 12.96% | 7.24% |
| Dec 31, 2009 | 12.95% | 9.73% |
| Dec 28, 2008 | 15.25% | 9.50% |
| Dec 30, 2007 | 13.06% | 8.88% |
| Dec 31, 2006 | 15.67% | 10.52% |
| Dec 31, 2005 | 17.94% | 9.67% |
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).