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Johnson & Johnson Balance Sheet 2025-2006 | JNJ
Brief overview of Johnson & Johnson's assets and capital
The review uses the five latest available annual reports between 2021 and 2025.
The balance sheet expanded from $174.9 billion to $199.2 billion. Growth of +13.9% and CAGR of 3.3% look measured and sustainable.
Assets outpaced liabilities, +13.9% versus +5.4%. Dependence on external funding declined.
Equity represents 40.9% of assets versus 36.2% initially. The capital structure appears balanced.
Net debt to equity stands at 0.27x; the current burden does not look excessive.
The cash reserve occupies 9.9% of the balance sheet, previously 8%. It is one marker of short-term resilience.
By the end of the period, accumulated earnings were $169 billion; the change from the start was +48.4%.
What the balance sheet shows
Johnson & Johnson's financial position is more positive than negative: the funding mix is workable, although the cushion is not unlimited.
Annual Balance Sheet Johnson & Johnson
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
21.7 B | 8.3 B | 5.49 B | 17.6 B | 18.6 B | - | 22.2 B | 24.5 B | 18 B | 14.2 B | - | 15.1 B | 13.5 B | 15.3 B | 12.3 B | -7.55 B | - | -2.65 B | - | - |
Long Term Debt |
39.4 B | 30.7 B | 25.9 B | 30 B | 32.6 B | - | 26.5 B | 27.7 B | 22.4 B | 12.9 B | - | 15.1 B | 13.3 B | 13 B | 9.16 B | 8.22 B | - | 8.12 B | - | - |
Long Term Debt Current |
2 B | 1.75 B | 1.47 B | 2.13 B | - | - | - | - | 1.5 B | - | - | - | - | - | - | 34 M | - | - | - | - |
Total Non Current Liabilities |
- | - | - | - | - | - | 62.3 B | 62 B | 44.5 B | 34.5 B | - | 36.3 B | 33 B | 33.8 B | 23.3 B | - | - | - | - | - |
Total Current Liabilities |
54.1 B | 50.3 B | 46.3 B | 45.2 B | 42.5 B | - | 36 B | 31.2 B | 30.5 B | 27.7 B | - | 25.1 B | 25.7 B | 24.3 B | 23.1 B | 21.7 B | - | 20.9 B | - | - |
Total Liabilities |
118 B | 109 B | 98.8 B | 108 B | 112 B | - | 98.3 B | 93.2 B | 70.8 B | 62.3 B | - | 61.4 B | 58.6 B | 56.6 B | 46.3 B | 44.1 B | - | 42.4 B | - | - |
Deferred Revenue |
- | - | - | - | - | - | 7.82 B | 7.64 B | 6.15 B | 5.49 B | - | 3.57 B | 3.61 B | 2.56 B | 2.22 B | - | - | - | - | - |
Retained Earnings |
169 B | 156 B | 154 B | 123 B | 114 B | - | 111 B | 106 B | 111 B | 104 B | - | 97.2 B | 89.5 B | 81.3 B | 77.8 B | 70.3 B | - | 63.4 B | - | - |
Total Assets |
199 B | 180 B | 168 B | 182 B | 175 B | - | 158 B | 153 B | 141 B | 133 B | - | 131 B | 133 B | 114 B | 103 B | 94.7 B | - | 84.9 B | - | - |
Cash and Cash Equivalents |
19.7 B | 24.1 B | 21.9 B | 14.5 B | 14 B | - | 17.3 B | 18.1 B | 17.8 B | 13.7 B | - | 14.5 B | 20.9 B | 14.9 B | 19.4 B | 15.8 B | - | 10.8 B | 7.77 B | 4.08 B |
Book Value |
81.5 B | 71.5 B | 68.8 B | 74 B | 63.3 B | - | 59.5 B | 59.8 B | 70.4 B | 71.2 B | - | 69.8 B | 74.1 B | 57.1 B | 56.6 B | 50.6 B | - | 42.5 B | - | - |
Total Shareholders Equity |
81.5 B | 71.5 B | 68.8 B | 74 B | 63.3 B | - | 59.5 B | 59.8 B | 60.2 B | 71.2 B | - | 69.8 B | 74.1 B | 64.8 B | 56.6 B | 50.6 B | - | 42.5 B | 43.3 B | 39.3 B |
All numbers in USD currency
Quarterly Balance Sheet Johnson & Johnson
| 2026-Q2 | 2026-Q1 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | 2010-Q3 | 2010-Q2 | 2010-Q1 | 2009-Q3 | 2009-Q2 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
37.3 B | 37.5 B | 39.4 B | 39.2 B | 38.4 B | 31.3 B | 31.6 B | 25.1 B | 26.1 B | 33.9 B | 34.9 B | 26.9 B | 27.6 B | - | 28.9 B | 32.6 B | 30.1 B | 30.3 B | 30.3 B | - | 32.7 B | 25.1 B | 25.4 B | 26.5 B | 26.5 B | 26.5 B | 26.5 B | 27.7 B | 27.7 B | 27.7 B | 27.7 B | 30.7 B | 30.7 B | 30.7 B | 30.7 B | 12.9 B | 23.5 B | 24.5 B | 20.2 B | - | 14.1 B | 14.1 B | 14.9 B | 15.1 B | 15.1 B | 15.1 B | 15.1 B | 13.3 B | 13.3 B | 13.3 B | 13.3 B | 11.5 B | 11.5 B | 11.5 B | 11.5 B | 9.16 B | 13 B | 13.7 B | 9.26 B | 9.18 B | 7.94 B | 8.06 B | 8.26 B | 8.18 B |
Total Liabilities |
116 B | 120 B | 114 B | 115 B | 116 B | 108 B | 110 B | 102 B | 94.8 B | 115 B | 125 B | 111 B | 101 B | - | 104 B | 112 B | 109 B | 107 B | 107 B | - | 106 B | 95.4 B | 93.7 B | 98.3 B | 98.3 B | 98.3 B | 98.3 B | 93.2 B | 93.2 B | 93.2 B | 93.2 B | 97.1 B | 97.1 B | 97.1 B | 97.1 B | 62.3 B | 67.6 B | 67.3 B | 63.6 B | - | 61.7 B | 60.9 B | 60.7 B | 60.6 B | 61.4 B | 61.4 B | 61.4 B | 58.6 B | 58.6 B | 58.6 B | 58.6 B | 56.5 B | 56.5 B | 56.5 B | 56.5 B | 46.3 B | 50.3 B | 50 B | 48.3 B | 41 B | 39.4 B | 40.5 B | 41.2 B | 41.2 B |
Retained Earnings |
172 B | 169 B | 167 B | 165 B | 163 B | 155 B | 155 B | 153 B | 153 B | 129 B | 125 B | 128 B | 128 B | - | 124 B | 114 B | 121 B | 120 B | 117 B | - | 115 B | 114 B | 113 B | 111 B | 111 B | 111 B | 111 B | 106 B | 106 B | 106 B | 106 B | 102 B | 102 B | 102 B | 102 B | 104 B | 109 B | 107 B | 105 B | - | 103 B | 101 B | 98.7 B | 97.2 B | 97.2 B | 97.2 B | 97.2 B | 89.5 B | 89.5 B | 89.5 B | 89.5 B | 86 B | 86 B | 86 B | 86 B | 77.8 B | 82.6 B | 80.8 B | 79.5 B | 77.3 B | 75.3 B | 73.2 B | 69.5 B | 67.4 B |
Total Assets |
201 B | 201 B | 193 B | 193 B | 194 B | 178 B | 181 B | 172 B | 166 B | 192 B | 196 B | 187 B | 175 B | - | 178 B | 175 B | 179 B | 176 B | 173 B | - | 171 B | 158 B | 155 B | 158 B | 158 B | 158 B | 158 B | 153 B | 153 B | 153 B | 153 B | 157 B | 157 B | 157 B | 157 B | 133 B | 140 B | 140 B | 136 B | - | 133 B | 132 B | 129 B | 130 B | 131 B | 131 B | 131 B | 133 B | 133 B | 133 B | 133 B | 121 B | 121 B | 121 B | 121 B | 103 B | 112 B | 112 B | 108 B | 98.2 B | 92.3 B | 93.4 B | 91.6 B | 87.4 B |
Cash and Cash Equivalents |
20.4 B | 21.7 B | 18.2 B | 18.6 B | 38.5 B | 20 B | 24.9 B | 25.5 B | 19.7 B | 21.2 B | 26.9 B | 14.1 B | 11.4 B | 11 B | 10.5 B | 14 B | 17.6 B | 14.3 B | 12.7 B | - | 19 B | 11.2 B | 15.5 B | 17.3 B | 17.3 B | 17.3 B | 17.3 B | 18.1 B | 18.1 B | 18.1 B | 18.1 B | 17.8 B | 17.8 B | 17.8 B | 17.8 B | 13.7 B | 18.2 B | 18.6 B | 13.9 B | - | 13.6 B | 10.6 B | 12 B | 14.5 B | 14.5 B | 14.5 B | 14.5 B | 20.9 B | 20.9 B | 20.9 B | 20.9 B | 14.9 B | 14.9 B | 14.9 B | 14.9 B | 19.4 B | 15.6 B | 15 B | 22.4 B | 14.3 B | 12.7 B | 13.7 B | 11.9 B | 11.7 B |
Book Value |
85 B | 81.2 B | 79.3 B | 78.5 B | 78.1 B | 70.2 B | 71.5 B | 70 B | 71.2 B | 76.4 B | 70.9 B | 76.8 B | 74.6 B | - | 74.7 B | 63.3 B | 70.3 B | 69.6 B | 65.8 B | - | 64.5 B | 63 B | 61.3 B | 59.5 B | 59.5 B | 59.5 B | 59.5 B | 59.8 B | 59.8 B | 59.8 B | 59.8 B | 60.2 B | 60.2 B | 60.2 B | 60.2 B | 71.2 B | 72.8 B | 72.5 B | 72.6 B | - | 71.6 B | 71.1 B | 67.9 B | 69.8 B | 69.8 B | 69.8 B | 69.8 B | 74.1 B | 74.1 B | 74.1 B | 74.1 B | 64.8 B | 64.8 B | 64.8 B | 64.8 B | 56.6 B | 61.5 B | 62.1 B | 59.9 B | 57.3 B | 52.9 B | 52.9 B | 50.4 B | 46.2 B |
Total Shareholders Equity |
85 B | 81.2 B | 79.3 B | 78.5 B | 78.1 B | 70.2 B | 71.5 B | 70 B | 71.2 B | 76.4 B | 70.9 B | 76.8 B | 74.6 B | 76.4 B | 74.7 B | 63.3 B | 70.3 B | 69.6 B | 65.8 B | - | 64.5 B | 63 B | 61.3 B | 59.5 B | 59.5 B | 59.5 B | 59.5 B | 59.8 B | 59.8 B | 59.8 B | 59.8 B | 60.2 B | 60.2 B | 60.2 B | 60.2 B | 71.2 B | 72.8 B | 72.5 B | 72.6 B | - | 71.6 B | 71.1 B | 67.9 B | 69.8 B | 69.8 B | 69.8 B | 69.8 B | 74.1 B | 74.1 B | 74.1 B | 74.1 B | 64.8 B | 64.8 B | 64.8 B | 64.8 B | 56.6 B | 61.5 B | 62.1 B | 59.9 B | 57.3 B | 52.9 B | 52.9 B | 50.4 B | 46.2 B |
All numbers in USD currency
Balance Sheet is a fundamental financial report of Johnson & Johnson, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
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