Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

Johnson & Johnson (NYSE:JNJ)

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Enterprise Value to FCFF (EV/FCFF)

Intermediate level


Free Cash Flow to The Firm (FCFF)

Johnson & Johnson, FCFF calculation

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended: Dec 29, 2019 Dec 30, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Net earnings
Net noncash charges
Changes in assets and liabilities, net of effects from acquisitions and divestitures
Net cash flows from operating activities
Cash paid during the year for interest, net of amount capitalized, net of tax1
Interest expense capitalized, net of tax2
Additions to property, plant and equipment
Free cash flow to the firm (FCFF)

Based on: 10-K (filing date: 2020-02-18), 10-K (filing date: 2019-02-20), 10-K (filing date: 2018-02-21), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-24).

Item Description The company
FCFF Free cash flow to the firm is the cash flow available to the Johnson & Johnson’s suppliers of capital after all operating expenses have been paid and necessary investments in working and fixed capital have been made. Johnson & Johnson’s FCFF increased from 2017 to 2018 and from 2018 to 2019.

Interest Paid, Net of Tax

Johnson & Johnson, interest paid, net of tax calculation

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended: Dec 29, 2019 Dec 30, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Effective Income Tax Rate (EITR)
EITR1
Interest Paid, Net of Tax
Cash paid during the year for interest, net of amount capitalized, before tax
Less: Cash paid during the year for interest, net of amount capitalized, tax2
Cash paid during the year for interest, net of amount capitalized, net of tax
Interest Costs Capitalized, Net of Tax
Interest expense capitalized, before tax
Less: Interest expense capitalized, tax3
Interest expense capitalized, net of tax

Based on: 10-K (filing date: 2020-02-18), 10-K (filing date: 2019-02-20), 10-K (filing date: 2018-02-21), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-24).

1 See details »

2 2019 Calculation
Cash paid during the year for interest, net of amount capitalized, tax = Cash paid during the year for interest, net of amount capitalized × EITR
= × =

3 2019 Calculation
Interest expense capitalized, tax = Interest expense capitalized × EITR
= × =


Enterprise Value to FCFF Ratio, Current

Johnson & Johnson, current EV/FCFF calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Selected Financial Data (US$ in millions)
Enterprise value (EV)
Free cash flow to the firm (FCFF)
Valuation Ratio
EV/FCFF
Benchmarks
EV/FCFF, Competitors1
Abbott Laboratories
AbbVie Inc.
Allergan PLC
Amgen Inc.
Biogen Inc.
Bristol-Myers Squibb Co.
Eli Lilly & Co.
Gilead Sciences Inc.
Illumina Inc.
Merck & Co. Inc.
Pfizer Inc.
Regeneron Pharmaceuticals Inc.
Vertex Pharmaceuticals Inc.
Zoetis Inc.
EV/FCFF, Sector
Pharmaceuticals & Biotechnology
EV/FCFF, Industry
Health Care

Based on: 10-K (filing date: 2020-02-18).

1 Click competitor name to see calculations.

If the company EV/FCFF is lower then the EV/FCFF of benchmark then company is relatively undervalued.
Otherwise, if the company EV/FCFF is higher then the EV/FCFF of benchmark then company is relatively overvalued.


Enterprise Value to FCFF Ratio, Historical

Johnson & Johnson, historical EV/FCFF calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 29, 2019 Dec 30, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Enterprise value (EV)1
Free cash flow to the firm (FCFF)2
Valuation Ratio
EV/FCFF3
Benchmarks
EV/FCFF, Competitors4
Abbott Laboratories
AbbVie Inc.
Allergan PLC
Amgen Inc.
Biogen Inc.
Bristol-Myers Squibb Co.
Eli Lilly & Co.
Gilead Sciences Inc.
Illumina Inc.
Merck & Co. Inc.
Pfizer Inc.
Regeneron Pharmaceuticals Inc.
Vertex Pharmaceuticals Inc.
Zoetis Inc.
EV/FCFF, Sector
Pharmaceuticals & Biotechnology
EV/FCFF, Industry
Health Care

Based on: 10-K (filing date: 2020-02-18), 10-K (filing date: 2019-02-20), 10-K (filing date: 2018-02-21), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-24).

1 See details »

2 See details »

3 2019 Calculation
EV/FCFF = EV ÷ FCFF
= ÷ =

4 Click competitor name to see calculations.

Valuation ratio Description The company
EV/FCFF Enterprise value to free cash flow to the firm is whole company valuation indicator. Johnson & Johnson’s EV/FCFF ratio decreased from 2017 to 2018 but then slightly increased from 2018 to 2019.