Enterprise Value (EV)
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Johnson & Johnson pages available for free this week:
- Statement of Comprehensive Income
- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to FCFF (EV/FCFF)
- Price to FCFE (P/FCFE)
- Return on Equity (ROE) since 2005
- Current Ratio since 2005
- Debt to Equity since 2005
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Current Enterprise Value (EV)
Johnson & Johnson, current enterprise value calculation
| Current share price (P) | |
| No. shares of common stock outstanding | |
| US$ in millions | |
| Common equity (market value)1 | |
| Add: Preferred stock, without par value, unissued (per books) | |
| Total equity | |
| Add: Loans and notes payable (per books) | |
| Add: Long-term debt, excluding current portion (per books) | |
| Total equity and debt | |
| Less: Cash and cash equivalents | |
| Less: Marketable securities | |
| Enterprise value (EV) | |
Based on: 10-K (reporting date: 2024-12-29).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
Historical Enterprise Value (EV)
Johnson & Johnson, EV calculation
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).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of Johnson & Johnson Annual Report.
3 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
- Equity Trends
- Over the five-year period, total equity (also represented by common equity at market value) exhibited a declining trend. The value peaked in 2021 at approximately 436.96 billion US dollars and subsequently decreased consistently each year, reaching approximately 378.60 billion US dollars by the end of 2024. This indicates a reduction of about 13.4% from the highest recorded equity in 2021 to 2024.
- Total Equity and Debt
- The combined total of equity and debt also shows a downward trend over the observed period. Beginning at approximately 460.77 billion US dollars in 2020, it rose slightly in 2021 to 470.71 billion US dollars before experiencing a steady decline through 2024, ending at 415.23 billion US dollars. This represents a decrease of nearly 11.8% from the 2021 peak to 2024. The data suggests a reduction in leverage or capital employed in the business after 2021.
- Enterprise Value (EV)
- Enterprise value mirrored the patterns observed in total equity and debt. The EV increased marginally from 435.59 billion US dollars in 2020 to 439.10 billion US dollars in 2021, after which it declined to 390.71 billion US dollars by the end of 2024. This represents a decrease of about 11% from 2021 to 2024, indicating a market reassessment or underlying changes in company valuation drivers such as earnings potential, risk profile, or debt structure.
- Overall Insights
- The consistent decline in equity and enterprise value following 2021 indicates a possible shift in market perception or operational performance, resulting in a lower valuation. The reductions in total equity and total capital employed could reflect repayments of debt, share buybacks, dividend payments exceeding earnings, or other capital structure strategies. The alignment of trends across equity, total capital, and enterprise value suggests that these changes are systemic rather than isolated events.