Price to FCFE (P/FCFE)
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- Common-Size Balance Sheet: Assets
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Geographic Areas
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Capital Asset Pricing Model (CAPM)
- Debt to Equity since 2005
- Total Asset Turnover since 2005
- Price to Earnings (P/E) since 2005
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Free Cash Flow to Equity (FCFE)
Johnson & Johnson, FCFE calculation
US$ in millions
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).
- Net Cash Flows from Operating Activities
- The net cash flows from operating activities showed a slight decrease from 23,536 million US dollars in 2020 to 23,410 million US dollars in 2021. This was followed by a more pronounced decline to 21,194 million US dollars in 2022. Subsequently, the figure recovered to 22,791 million US dollars in 2023 and continued to increase to 24,266 million US dollars in 2024. Overall, the trend over the five-year period indicates some fluctuations with a dip in the middle years, but a general resilience and recovery towards the end of the period.
- Free Cash Flow to Equity (FCFE)
- The free cash flow to equity exhibited greater variability compared to operating cash flows. Starting at 27,284 million US dollars in 2020, it declined substantially to 18,768 million US dollars in 2021. It then increased again to 24,637 million US dollars in 2022, dropped sharply to 15,514 million US dollars in 2023, and finally rose significantly to 29,893 million US dollars in 2024. These fluctuations suggest more pronounced volatility in the cash available to equity holders, with notable decreases in 2021 and 2023, but strong recovery in 2024 surpassing all previous values in the period.
Price to FCFE Ratio, Current
Johnson & Johnson, current P/FCFE calculation, comparison to benchmarks
| No. shares of common stock outstanding | |
| Selected Financial Data (US$) | |
| Free cash flow to equity (FCFE) (in millions) | |
| FCFE per share | |
| Current share price (P) | |
| Valuation Ratio | |
| P/FCFE | |
| Benchmarks | |
| P/FCFE, Competitors1 | |
| AbbVie Inc. | |
| Amgen Inc. | |
| Bristol-Myers Squibb Co. | |
| Danaher Corp. | |
| Eli Lilly & Co. | |
| Gilead Sciences Inc. | |
| Merck & Co. Inc. | |
| Pfizer Inc. | |
| Regeneron Pharmaceuticals Inc. | |
| Thermo Fisher Scientific Inc. | |
| Vertex Pharmaceuticals Inc. | |
| P/FCFE, Sector | |
| Pharmaceuticals, Biotechnology & Life Sciences | |
| P/FCFE, Industry | |
| Health Care | |
Based on: 10-K (reporting date: 2024-12-29).
1 Click competitor name to see calculations.
If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.
Price to FCFE Ratio, Historical
Johnson & Johnson, historical P/FCFE calculation, comparison to benchmarks
| Dec 29, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| Free cash flow to equity (FCFE) (in millions)2 | ||||||
| FCFE per share3 | ||||||
| Share price1, 4 | ||||||
| Valuation Ratio | ||||||
| P/FCFE5 | ||||||
| Benchmarks | ||||||
| P/FCFE, Competitors6 | ||||||
| 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. | ||||||
| P/FCFE, Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | ||||||
| P/FCFE, Industry | ||||||
| Health Care | ||||||
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.
3 2024 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= ÷ =
4 Closing price as at the filing date of Johnson & Johnson Annual Report.
5 2024 Calculation
P/FCFE = Share price ÷ FCFE per share
= ÷ =
6 Click competitor name to see calculations.
- Share Price
- The share price showed a fluctuating but overall slightly declining trend over the five-year period. Starting at $161.87 at the end of 2020, it increased modestly to $166.19 in 2021, followed by a decline to $158.24 in 2022. The downward movement continued with a slight decrease to $156.55 in 2023, and a minor increase to $157.25 by the end of 2024. This indicates relative stability in market valuation with a mild downward bias in recent years.
- Free Cash Flow to Equity (FCFE) per Share
- The FCFE per share exhibited significant volatility throughout the evaluated period. It started at $10.38 in 2020 and experienced a notable decrease to $7.14 in 2021, reflecting reduced cash available to equity shareholders. The figure rebounded to $9.46 in 2022 but then dropped again to $6.44 in 2023. The latest value in 2024 showed a substantial increase, rising sharply to $12.42, surpassing previous years' values. This pattern suggests irregular cash flow generation with potential operational or investment fluctuations impacting cash returns to shareholders.
- Price to FCFE Ratio (P/FCFE)
- The P/FCFE ratio displayed considerable variation, reflecting shifts in market valuation relative to free cash flow per share. Initially, at 15.6 in 2020, the ratio increased sharply to 23.28 in 2021, indicating the share price was valued higher relative to cash flow, possibly due to market optimism or reduced FCFE. In 2022, the ratio declined to 16.73, then rose again to 24.31 in 2023, showing alternating investor sentiment or changes in cash flow performance. In 2024, the ratio dropped significantly to 12.67, the lowest in the observed period, likely due to the substantial increase in FCFE combined with a stable share price, indicating improved valuation from a cash flow perspective.