SURVYR

JNJ

Johnson & Johnson
$268.73
+$2.43 (0.91%)Oct 27 close
Health CareS&P 500 CompareTechnicals
Model valuationLooks expensiveDCF base $144
1M3M6M1Y2Y
-7%+7%+22%+36%+51%Oct 2025Oct 2026Apr 202652w high $281.0752w low $184.66
JNJSPY
Wall St. Highest PT $320.00 (+19.1%) Wall St. Avg PT $279.41 (+4.0%)
$182$219$256$293$330POC $241Hi $320Avg $279
Underwater Drawdown %Max DD -11.0%Current -3.5%
0.0%-11.0%
Relative Strength vs SPY+30.9% vs SPYOutperforming
+42%0%-42%
1W
+$9.37 (3.61%)
1M
−$2.49 (0.92%)
3M
+$3.31 (1.25%)
6M
+$43.35 (19.24%)
YTD
+$65.06 (31.94%)
1Y
+$82.62 (44.40%)

Chart

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Ratings & dials

1m · 5m · 15m · 1h · 4h · 1D

Analyst & Morningstar ratings

Consensus · Targets · Morningstar
Wall Street analyst consensus
SellHoldStrong Buy
Buy
23 analysts · mean score 1.91
1 = Strong Buy · 5 = Sell
Strong Buy1148%
Buy522%
Hold626%
Underperform00%
Sell14%
Wall Street consensus · as of Oct 22, 2026
Analyst price targets
Current price$268.73
Average target$279.41
+$10.68 (+4.0%) upsideaverage target vs current price
CurrentAverageMedian
Low$190.00
Median$280.50
High$320.00
12-month Wall Street target range · as of Oct 22, 2026
Recent analyst rating changes · 30
Reiterated
2026-10-16 · Wells Fargo reiterated Overweight on JNJ
Reiterated
2026-10-15 · Morgan Stanley reiterated Overweight on JNJ
Reiterated
2026-10-14 · Leerink Partners reiterated Outperform on JNJ
Reiterated
2026-10-14 · Wells Fargo reiterated Overweight on JNJ
Reiterated
2026-10-14 · RBC Capital reiterated Outperform on JNJ
Reiterated
2026-10-07 · Guggenheim reiterated Buy on JNJ
All analyst rating changes ›

Third-party ratings, not SURVYR.'s views.

Health check

Financial health
DistressGrey zoneSafe
Safe zone
Altman Z-score 5.4
Above 2.99 is the safe zone, below 1.81 the distress zone.
Quality
WeakAverageStrong
Average
Piotroski F-score 4 of 9
See the tests
  • ✓Positive net income
  • ✓Positive operating cash flow
  • ✓Return on assets improved
  • ✗Cash flow above net income
  • ✗Long-term debt / assets fell
  • ✗Current ratio improved
  • ✓No share dilution
  • ✗Gross margin improved
  • ✗Asset turnover improved

Computed by SURVYR. from the company's SEC filings (latest balance sheet Sep 27, 2026). Descriptive, not a forecast.

Key stats & company

Market value$646.9B
P/E (last 12 months)40.8
P/E (next 12 months, estimated)23.1
52-week range$184.66 – $281.07
Revenue growth (latest quarter vs a year ago)+5.9%
Dividend yield2.01%
Analyst consensusBuy (22)
Average analyst price target$279.41 (+4%)

What they do

Johnson & Johnson engages in the research and development, manufacture, and sale of a range of products in the healthcare field worldwide. It operates in two segments, Innovative Medicine and MedTech. The Innovative Medicine segment offers products for various therapeutic areas, such as oncology, immunology, neuroscience, pulmonary hypertension, infectious diseases.

Healthcare · Drug Manufacturers - General
Valuation and fundamentals

Valuation & fundamentals

Bottom line
Looks expensive
Model read-out from the numbers below, not advice. Score -3 (DCF counts double).
▼DCF (base case)below the price by 47%
▼Forward P/E vs sector23.1x vs median 18.0x
•Piotroski F-score4/9
▲Altman Z5.4 (safe)
▲Net debt / EBITDA1.0x
•Analyst target+4% (22 analysts)

Discounted cash flow

Bear
$87
-68%
growth 1% · disc. 10.2% · term. 2.0%
Base
$144
-47%
growth 6% · disc. 9.2% · term. 2.5%
Bull
$222
-17%
growth 9% · disc. 8.2% · term. 3.0%

A DCF starts from trailing free cash flow, so it can overstate value if the last 12 months were unusually strong (or weak). Use the bear case or edit the starting cash flow if so.

Reverse DCFfor context, not a signal
Today's price assumes free cash flow grows about 13% a year for 10 years.
Implied
+13%/yr
FCF, last 3 yrs
+5%/yr
FCF, last 5 yrs
+0%/yr
Revenue, last 3 yrs
+6%/yr
Revenue, last 5 yrs
+3%/yr
Same inputs as the DCF above: trailing free cash flow 20.6B, 9.2% discount rate, 2.5% growth after year 10, net debt and today's share count. Actual growth rates are compound annual rates from SEC annual filings through FY2025; "n/a" means too little history or a negative starting year.
Edit assumptions · recalculates instantly
Your value per share–

Free cash flow = operating cash flow − capital spending, trailing 12 months (TTM to 2026-09-27). Growth default: average of 3-year revenue CAGR and latest revenue growth, capped at 30%. Years 6–10 fade linearly to terminal growth. Discount rate = 4.25% risk-free assumption + beta 0.21 × 5% equity premium, kept within 7–13%. Bear: lower growth, +1 pt discount, 2% terminal. Bull: higher growth, −1 pt, 3%.

Multiples vs Health Care

P/E (trailing)
sector median 31.2× · 71st pct
 40.8×
pricier
Forward P/E
sector median 18.0× · 68th pct
 23.1×
pricier
EV / EBITDA
sector median 16.2× · 73rd pct
 22.7×
pricier
Price / sales
sector median 3.3× · 74th pct
 6.5×
pricier
Price / book
sector median 3.5× · 82nd pct
 7.9×
pricier
FCF yield
sector median 4.0% · 37th pct
 3.2%
pricier

Forward EPS $11.62 vs trailing $6.59 (+76% expected growth). Forward P/E uses analysts' next-12-month estimate.

Quality & financial health

Gross margin
67.6%
Operating margin
21.9%
FCF margin
20.7%
Net margin
16.2%
Return on equity
19.7%
Return on invested capital
17.8%
Net debt / EBITDA
1.0×
Current ratio
1.0×
Interest cover
22.1×
Cash conversion (OCF/NI)
1.6×
Piotroski F-score 4/9 · last two fiscal years
✓ Positive net income✓ Positive operating cash flow✓ Return on assets improved✗ Cash flow above net income✗ Long-term debt / assets fell✗ Current ratio improved✓ No share dilution✗ Gross margin improved✗ Asset turnover improved

Altman Z-score 5.4 (safe zone; above 3.0 = safe, below 1.8 = distress). Not meaningful for banks and insurers.

Analysts

Mean target
$279
+4%
Analysts
22
Buy
Range
$190–$320
low – high
● price · ◆ mean target

Annual history

FYRevenueNet incomeFree cash flow
2025$94.2B$26.8B$19.7B
2024$88.8B$14.1B$19.8B
2023$85.2B$35.2B$18.2B
2023$80.0B$17.9B$17.2B
2022$78.7B$20.9B$19.8B
2021$82.6B$14.7B$20.2B

From the company's 10-K filings via SEC XBRL. 3-year revenue CAGR +5.6%.

For information only · Important disclosures

Grades vs sector

Momentum
74th percentile in sector
B+
12-1 return: +43.3%
Percentile within its GICS sector across the S&P 1500.
Growth
36th percentile in sector
C-
Revenue growth (YoY): +5.9%
Percentile within its GICS sector across the S&P 1500.
Value
35th percentile in sector
C-
Forward E/P: 4.6% · EBITDA/EV: 5.3%
Percentile within its GICS sector across the S&P 1500.
Profitability
74th percentile in sector
B+
Profit margin: +16.2% · Return on equity: –
Percentile within its GICS sector across the S&P 1500.
Revisions
Not enough data yet
–
EPS estimate change, 30 days (current FY): –
30-day change in analysts' current-year EPS estimate; graded across covered stocks.

Systematic Models

Held by 1 of 7 live models: New Highs Growth.

New Highs Growth
4.0% of the book
 HeldQuality Growth
Outside this model's universe or screens
 Momentum Top 15
ranked 73 of 499 · 12-month momentum 46.6%
 Momentum Blend
Not in the current book
 SURVYR. Barbell Momentum & T-Bill Shield
Outside this model's universe or screens
 SURVYR. Physical AI Grid & Power
Outside this model's universe or screens
 SURVYR. Long Book
Not in the current book
Why it's in the New Highs Growth

Qualified on Pharma, -5% from 52-week high, held: still within 25% of its high, 12-1 momentum +50%.

What would knock it out: Drops out if it falls outside the top 25 at the next rebalance (Oct 30). In the latest preview (2026-10-27) it is outside the top 25.

Earnings & events

JNJ earningsNext report in 90 days
Next report
Tue Jan 26, 2027Before the open
EPS consensus$2.92 range $2.86–$2.97
Revenue consensus$26.4B 16 analysts
Last 4 quarters · EPS vs estimate
Oct 13, 2026$2.59est $2.52+2.7%Above estimates
Jul 15, 2026$2.90est $2.85+1.6%Above estimates
Apr 14, 2026$2.70est $2.68+0.8%In line with estimates
Jan 21, 2026$2.46est $2.46−0.1%In line with estimates

In line = within 1% of the estimate.

Source: Yahoo Finance · refreshed 2026-10-27 18:23:58 ET
25-0125-0425-0725-1026-0126-0426-0726-100.002.90
EstimateActual (beat)Actual (miss)

Quarterly revenue

QuarterRevenueYoY
2026-09-30$25.4B+5.9%
2026-06-30$25.3B–
2026-03-31$24.1B–
2025-12-31$24.6B–
2025-09-30$24.0B–

Recent dividends

2026-08-25: $1.340 · 2026-05-26: $1.340 · 2026-02-24: $1.300 · 2025-11-25: $1.300 · 2025-08-26: $1.300 · 2025-05-27: $1.300 · 2025-02-18: $1.240 · 2024-11-26: $1.240

News & catalysts

More news
CDs or Dividend Stocks: Which Pays Retirees Better Right Now?
24/7 Wall St. · 19h ago
Dimensional US Large Cap Value (DFLV) Sells $90.1 Million of J&J on Oct. 22
GuruFocus.com · Oct 26
Amgen vs. Johnson & Johnson: Which Healthcare Giant Has the Better Stock to Buy?
Nasdaq · Oct 24
Johnson & Johnson’s prostate cancer drug shrinks tumors in early-stage trial
Investing.com · Oct 24
Procter & Gamble Jumps 6% as Earnings Beat Draws Defensive Buyers; Johnson & Johnson Rises 3%, Coca-Cola Ticks Up
24/7 Wall St. · Oct 22
Rating changes
Reiterated
2026-10-16 · Wells Fargo reiterated Overweight on JNJ
Reiterated
2026-10-15 · Morgan Stanley reiterated Overweight on JNJ
Reiterated
2026-10-14 · Leerink Partners reiterated Outperform on JNJ
Reiterated
2026-10-14 · Wells Fargo reiterated Overweight on JNJ
Reiterated
2026-10-14 · RBC Capital reiterated Outperform on JNJ
Reiterated
2026-10-07 · Guggenheim reiterated Buy on JNJ

Third-party analyst actions, not SURVYR.'s views. All rating changes

Insider trades
Schmid Timothy
EVP, WW Chair, MedTech · 2026-09-02
Sell
$6.2M
Schmid Timothy
EVP, WW Chair, MedTech · 2026-09-02
Sell
$3.0M
Taubert Jennifer L
EVP, WWC. Innovative Medicine · 2026-08-17
Sell
$4.0M
Duato Joaquin
Director, CEO and Chairman of the Board · 2026-08-13
Sell
$26.7M
Duato Joaquin
Director, CEO and Chairman of the Board · 2026-08-13
Sell
$5.5M
Forminard Elizabeth
EVP, Chief Legal Officer · 2026-08-06
Sell
$1.7M
Forminard Elizabeth
EVP, Chief Legal Officer · 2026-08-06
Sell
$2.4M
Duato Joaquin
Director, CEO and Chairman of the Board · 2026-08-05
Sell
$1.7M
Duato Joaquin
Director, CEO and Chairman of the Board · 2026-08-05
Sell
$10.8M
None
None · None
Sell
–
None
None · None
Sell
–
None
None · None
Sell
–

Stats refreshed 2026-10-27 18:23:58 ET from Yahoo Finance (yfinance). "–" means the data isn't available. Refresh now

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Systematic research · Not investment advice · Hypothetical unless marked Live · Data: Yahoo Finance (15-min delayed), SEC EDGAR, House Clerk · Important disclosures · Contact desk@coteau.app

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