Stock Analysis on Net
Stock Analysis on Net

Johnson & Johnson (NYSE:JNJ)

$24.99

Return on Equity (ROE)
since 2005

Microsoft Excel

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Calculation

Johnson & Johnson, ROE, long-term trends, calculation

Microsoft Excel
ROE = 100 × Net earnings1 ÷ Shareholders’ equity1
Dec 29, 2024 = 100 × ÷
Dec 31, 2023 = 100 × ÷
Dec 31, 2022 = 100 × ÷
Dec 31, 2021 = 100 × ÷
Dec 31, 2020 = 100 × ÷
Dec 29, 2019 = 100 × ÷
Dec 30, 2018 = 100 × ÷
Dec 31, 2017 = 100 × ÷
Dec 31, 2016 = 100 × ÷
Dec 31, 2015 = 100 × ÷
Dec 28, 2014 = 100 × ÷
Dec 29, 2013 = 100 × ÷
Dec 30, 2012 = 100 × ÷
Dec 31, 2011 = 100 × ÷
Dec 31, 2010 = 100 × ÷
Dec 31, 2009 = 100 × ÷
Dec 28, 2008 = 100 × ÷
Dec 30, 2007 = 100 × ÷
Dec 31, 2006 = 100 × ÷
Dec 31, 2005 = 100 × ÷

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$ in millions

Net Earnings
Net earnings exhibit a generally fluctuating trend over the observed period. Starting at $10,411 million in 2005, earnings increased intermittently, reaching a peak of $16,540 million in 2016. Notable declines occurred in 2012 and 2017, with a significant drop to $1,300 million in 2017. After a recovery phase, net earnings rose sharply again to $20,878 million in 2021, followed by a decline through 2024, ending at $14,066 million. This variability suggests a degree of operational or market volatility affecting profitability.
Shareholders’ Equity
Shareholders’ equity has generally increased over the period, indicating growth in net assets. The value rose from $37,871 million in 2005 to a high of $76,804 million in 2021, showing a strong upward trajectory with some fluctuations. There is a slight dip observed after 2021, decreasing to $68,774 million in 2023 before a modest recovery to $71,490 million in 2024. Overall, the increase in equity demonstrates an expanding capital base and potentially retained earnings, supporting the company's financial stability.
Return on Equity (ROE)
The ROE figures mirror the fluctuations in net earnings relative to shareholders' equity. ROE starts at a high 27.49% in 2005, maintains elevated levels around 24% to 30% through 2008, and then declines to a low of 2.16% in 2017, correlating with the significant drop in net earnings that year. Subsequently, ROE recovers to peak at 51.11% in 2023, likely due to the combination of relatively high net earnings and a lower equity base that year, before dropping to 19.68% in 2024. These variations reflect changing profitability efficiency and imply variable returns generated from shareholders' investments across the years.
Summary of Trends

Overall, the financial data reveals cyclical performance in profitability as seen in net earnings and ROE, with notable volatility impacting these metrics at certain points in time, especially in 2017 and 2023. Despite these fluctuations, the company has consistently grown its shareholders' equity base, underscoring strengthened capitalization. The intermittent sharp rises and declines in ROE emphasize periods of efficiency changes in generating profit from equity. The data suggests that while financial strength as reflected by equity has generally improved, profitability has experienced periods of instability, necessitating close monitoring of operational factors driving earnings variability.

Comparison to Competitors

Johnson & Johnson, ROE, long-term trends, comparison to competitors

Microsoft Excel
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 29, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 29, 2019
Dec 30, 2018
Dec 31, 2017
Dec 31, 2016
Dec 31, 2015
Dec 28, 2014
Dec 29, 2013
Dec 30, 2012
Dec 31, 2011
Dec 31, 2010
Dec 31, 2009
Dec 28, 2008
Dec 30, 2007
Dec 31, 2006
Dec 31, 2005

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, ROE, long-term trends, comparison to sector (pharmaceuticals, biotechnology & life sciences)

Microsoft Excel
Johnson & Johnson Pharmaceuticals, Biotechnology & Life Sciences
Dec 29, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 29, 2019
Dec 30, 2018
Dec 31, 2017
Dec 31, 2016
Dec 31, 2015
Dec 28, 2014
Dec 29, 2013
Dec 30, 2012
Dec 31, 2011
Dec 31, 2010
Dec 31, 2009
Dec 28, 2008
Dec 30, 2007
Dec 31, 2006
Dec 31, 2005

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)

Johnson & Johnson, ROE, long-term trends, comparison to industry (health care)

Microsoft Excel
Johnson & Johnson Health Care
Dec 29, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 29, 2019
Dec 30, 2018
Dec 31, 2017
Dec 31, 2016
Dec 31, 2015
Dec 28, 2014
Dec 29, 2013
Dec 30, 2012
Dec 31, 2011
Dec 31, 2010
Dec 31, 2009
Dec 28, 2008
Dec 30, 2007
Dec 31, 2006
Dec 31, 2005

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).