Stock Analysis on Net
Stock Analysis on Net

Johnson & Johnson (NYSE:JNJ)

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Common Stock Valuation Ratios (Price Multiples)
Quarterly Data

Beginner level

Historical Valuation Ratios (Summary)

Johnson & Johnson, historical price multiples (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 28, 2020 Mar 29, 2020 Dec 29, 2019 Sep 29, 2019 Jun 30, 2019 Mar 31, 2019 Dec 30, 2018 Sep 30, 2018 Jul 1, 2018 Apr 1, 2018 Dec 31, 2017 Oct 1, 2017 Jul 2, 2017 Apr 2, 2017 Dec 31, 2016 Oct 2, 2016 Jul 3, 2016 Apr 3, 2016 Dec 31, 2015 Sep 27, 2015 Jun 28, 2015 Mar 29, 2015
Price to earnings (P/E)
Price to operating profit (P/OP)
Price to sales (P/S)
Price to book value (P/BV)

Based on: 10-Q (filing date: 2020-07-24), 10-Q (filing date: 2020-04-29), 10-K (filing date: 2020-02-18), 10-Q (filing date: 2019-10-28), 10-Q (filing date: 2019-07-29), 10-Q (filing date: 2019-05-01), 10-K (filing date: 2019-02-20), 10-Q (filing date: 2018-10-31), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-01), 10-K (filing date: 2018-02-21), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-08), 10-K (filing date: 2017-02-27), 10-Q (filing date: 2016-11-04), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-10), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-07-31), 10-Q (filing date: 2015-05-01).

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Johnson & Johnson’s P/E ratio decreased from Q4 2019 to Q1 2020 but then increased from Q1 2020 to Q2 2020 not reaching Q4 2019 level.
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Johnson & Johnson’s P/OP ratio decreased from Q4 2019 to Q1 2020 but then increased from Q1 2020 to Q2 2020 not reaching Q4 2019 level.
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Johnson & Johnson’s P/S ratio decreased from Q4 2019 to Q1 2020 but then increased from Q1 2020 to Q2 2020 exceeding Q4 2019 level.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company’s required rate of return and its actual rate of return. Johnson & Johnson’s P/BV ratio decreased from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.

Price to Earnings (P/E)

Johnson & Johnson, historical P/E calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 28, 2020 Mar 29, 2020 Dec 29, 2019 Sep 29, 2019 Jun 30, 2019 Mar 31, 2019 Dec 30, 2018 Sep 30, 2018 Jul 1, 2018 Apr 1, 2018 Dec 31, 2017 Oct 1, 2017 Jul 2, 2017 Apr 2, 2017 Dec 31, 2016 Oct 2, 2016 Jul 3, 2016 Apr 3, 2016 Dec 31, 2015 Sep 27, 2015 Jun 28, 2015 Mar 29, 2015
No. shares of common stock outstanding1
Selected Financial Data (US$)
Net earnings (in millions)
Earnings per share (EPS)2
Share price1, 3
Valuation Ratio
P/E ratio4
Benchmarks
P/E Ratio, Competitors5
Abbott Laboratories
AbbVie Inc.
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.

Based on: 10-Q (filing date: 2020-07-24), 10-Q (filing date: 2020-04-29), 10-K (filing date: 2020-02-18), 10-Q (filing date: 2019-10-28), 10-Q (filing date: 2019-07-29), 10-Q (filing date: 2019-05-01), 10-K (filing date: 2019-02-20), 10-Q (filing date: 2018-10-31), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-01), 10-K (filing date: 2018-02-21), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-08), 10-K (filing date: 2017-02-27), 10-Q (filing date: 2016-11-04), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-10), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-07-31), 10-Q (filing date: 2015-05-01).

1 Data adjusted for splits and stock dividends.

2 Q2 2020 Calculation
EPS = (Net earningsQ2 2020 + Net earningsQ1 2020 + Net earningsQ4 2019 + Net earningsQ3 2019) ÷ No. shares of common stock outstanding
= ( + + + ) ÷ =

3 Closing price as at the filing date of Johnson & Johnson’s Quarterly or Annual Report.

4 Q2 2020 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Johnson & Johnson’s P/E ratio decreased from Q4 2019 to Q1 2020 but then increased from Q1 2020 to Q2 2020 not reaching Q4 2019 level.

Price to Operating Profit (P/OP)

Johnson & Johnson, historical P/OP calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 28, 2020 Mar 29, 2020 Dec 29, 2019 Sep 29, 2019 Jun 30, 2019 Mar 31, 2019 Dec 30, 2018 Sep 30, 2018 Jul 1, 2018 Apr 1, 2018 Dec 31, 2017 Oct 1, 2017 Jul 2, 2017 Apr 2, 2017 Dec 31, 2016 Oct 2, 2016 Jul 3, 2016 Apr 3, 2016 Dec 31, 2015 Sep 27, 2015 Jun 28, 2015 Mar 29, 2015
No. shares of common stock outstanding1
Selected Financial Data (US$)
Operating earnings (in millions)
Operating profit per share2
Share price1, 3
Valuation Ratio
P/OP ratio4
Benchmarks
P/OP Ratio, Competitors5
Abbott Laboratories
AbbVie Inc.
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.

Based on: 10-Q (filing date: 2020-07-24), 10-Q (filing date: 2020-04-29), 10-K (filing date: 2020-02-18), 10-Q (filing date: 2019-10-28), 10-Q (filing date: 2019-07-29), 10-Q (filing date: 2019-05-01), 10-K (filing date: 2019-02-20), 10-Q (filing date: 2018-10-31), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-01), 10-K (filing date: 2018-02-21), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-08), 10-K (filing date: 2017-02-27), 10-Q (filing date: 2016-11-04), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-10), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-07-31), 10-Q (filing date: 2015-05-01).

1 Data adjusted for splits and stock dividends.

2 Q2 2020 Calculation
Operating profit per share = (Operating earningsQ2 2020 + Operating earningsQ1 2020 + Operating earningsQ4 2019 + Operating earningsQ3 2019) ÷ No. shares of common stock outstanding
= ( + + + ) ÷ =

3 Closing price as at the filing date of Johnson & Johnson’s Quarterly or Annual Report.

4 Q2 2020 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Johnson & Johnson’s P/OP ratio decreased from Q4 2019 to Q1 2020 but then increased from Q1 2020 to Q2 2020 not reaching Q4 2019 level.

Price to Sales (P/S)

Johnson & Johnson, historical P/S calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 28, 2020 Mar 29, 2020 Dec 29, 2019 Sep 29, 2019 Jun 30, 2019 Mar 31, 2019 Dec 30, 2018 Sep 30, 2018 Jul 1, 2018 Apr 1, 2018 Dec 31, 2017 Oct 1, 2017 Jul 2, 2017 Apr 2, 2017 Dec 31, 2016 Oct 2, 2016 Jul 3, 2016 Apr 3, 2016 Dec 31, 2015 Sep 27, 2015 Jun 28, 2015 Mar 29, 2015
No. shares of common stock outstanding1
Selected Financial Data (US$)
Sales to customers (in millions)
Sales per share2
Share price1, 3
Valuation Ratio
P/S ratio4
Benchmarks
P/S Ratio, Competitors5
Abbott Laboratories
AbbVie Inc.
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.

Based on: 10-Q (filing date: 2020-07-24), 10-Q (filing date: 2020-04-29), 10-K (filing date: 2020-02-18), 10-Q (filing date: 2019-10-28), 10-Q (filing date: 2019-07-29), 10-Q (filing date: 2019-05-01), 10-K (filing date: 2019-02-20), 10-Q (filing date: 2018-10-31), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-01), 10-K (filing date: 2018-02-21), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-08), 10-K (filing date: 2017-02-27), 10-Q (filing date: 2016-11-04), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-10), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-07-31), 10-Q (filing date: 2015-05-01).

1 Data adjusted for splits and stock dividends.

2 Q2 2020 Calculation
Sales per share = (Sales to customersQ2 2020 + Sales to customersQ1 2020 + Sales to customersQ4 2019 + Sales to customersQ3 2019) ÷ No. shares of common stock outstanding
= ( + + + ) ÷ =

3 Closing price as at the filing date of Johnson & Johnson’s Quarterly or Annual Report.

4 Q2 2020 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Johnson & Johnson’s P/S ratio decreased from Q4 2019 to Q1 2020 but then increased from Q1 2020 to Q2 2020 exceeding Q4 2019 level.

Price to Book Value (P/BV)

Johnson & Johnson, historical P/BV calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 28, 2020 Mar 29, 2020 Dec 29, 2019 Sep 29, 2019 Jun 30, 2019 Mar 31, 2019 Dec 30, 2018 Sep 30, 2018 Jul 1, 2018 Apr 1, 2018 Dec 31, 2017 Oct 1, 2017 Jul 2, 2017 Apr 2, 2017 Dec 31, 2016 Oct 2, 2016 Jul 3, 2016 Apr 3, 2016 Dec 31, 2015 Sep 27, 2015 Jun 28, 2015 Mar 29, 2015
No. shares of common stock outstanding1
Selected Financial Data (US$)
Shareholders’ equity (in millions)
Book value per share (BVPS)2
Share price1, 3
Valuation Ratio
P/BV ratio4
Benchmarks
P/BV Ratio, Competitors5
Abbott Laboratories
AbbVie Inc.
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.

Based on: 10-Q (filing date: 2020-07-24), 10-Q (filing date: 2020-04-29), 10-K (filing date: 2020-02-18), 10-Q (filing date: 2019-10-28), 10-Q (filing date: 2019-07-29), 10-Q (filing date: 2019-05-01), 10-K (filing date: 2019-02-20), 10-Q (filing date: 2018-10-31), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-01), 10-K (filing date: 2018-02-21), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-08), 10-K (filing date: 2017-02-27), 10-Q (filing date: 2016-11-04), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-10), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-07-31), 10-Q (filing date: 2015-05-01).

1 Data adjusted for splits and stock dividends.

2 Q2 2020 Calculation
BVPS = Shareholders’ equity ÷ No. shares of common stock outstanding
= ÷ =

3 Closing price as at the filing date of Johnson & Johnson’s Quarterly or Annual Report.

4 Q2 2020 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company’s required rate of return and its actual rate of return. Johnson & Johnson’s P/BV ratio decreased from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.